ChampionX Corporation (CHX)

Days of inventory on hand (DOH)

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Inventory turnover 5.02 5.36 4.29 3.47 3.57
DOH days 72.70 68.11 84.99 105.31 102.29

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.02
= 72.70

ChampionX Corp.'s Days of Inventory on Hand (DOH) has shown a fluctuating trend over the past five years. In 2023, the company had 72.70 days of inventory on hand, which increased from 68.11 days in 2022. This decrease in efficiency indicates that ChampionX held its inventory for a longer period in 2023 compared to the previous year.

Despite this increase in 2023, the company has managed to improve its inventory management efficiency since 2020 when DOH was significantly higher at 105.31 days. The decreasing trend from 2020 to 2022 suggests that ChampionX made efforts to optimize its inventory levels during this period.

Overall, ChampionX Corp. should continue monitoring its inventory management closely to maintain an optimal balance between having enough inventory to meet demand without tying up excess funds in inventory that could impact profitability.


Peer comparison

Dec 31, 2023

Company name
Symbol
DOH
ChampionX Corporation
CHX
72.70
Dover Corporation
DOV
61.42