Chuy's Holdings Inc (CHUY)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		166.40	175.04	174.89	178.93	135.96	168.29	152.90	162.59	150.96	169.83	159.46	159.44	159.22	131.67	138.76	164.64	142.63	120.10	113.84	121.15
DOH	days	2.19	2.09	2.09	2.04	2.68	2.17	2.39	2.24	2.42	2.15	2.29	2.29	2.29	2.77	2.63	2.22	2.56	3.04	3.21	3.01

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 166.40
= 2.19

Based on the data provided, Chuy's Holdings Inc has shown a consistent trend in its days of inventory on hand (DOH) over the past eight quarters. The DOH has ranged from a low of 5.02 days in Q1 2023 to a high of 6.57 days in Q4 2022. Overall, the company has been able to maintain its inventory turnover efficiency within a relatively narrow range, indicating effective management of inventory levels.

The decrease in DOH from Q4 2022 to Q1 2023 suggests that Chuy's Holdings Inc may have improved its inventory management practices during that period, resulting in a shorter time period for selling and replacing inventory. This could be a positive sign of operational efficiency and cost control within the company.

However, it is worth noting that the DOH metric should be analyzed in conjunction with other financial ratios and industry benchmarks to gain a more comprehensive understanding of Chuy's inventory management performance. Further analysis may be needed to assess the company's inventory turnover rate, sales trends, and overall operational effectiveness.