CMS Energy Corporation (CMS)

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		1.12	0.99	1.35	1.81	1.20	1.01	1.40	2.32	1.53	1.34	1.74	2.14	1.45	1.25	1.61	2.01	1.47	1.29	1.66	2.31
DOH	days	326.07	369.18	271.15	201.21	304.94	362.50	261.60	157.52	238.92	271.96	209.74	170.17	251.18	292.27	226.06	181.87	248.40	283.17	219.96	158.32

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.12
= 326.07

The days of inventory on hand (DOH) for CMS Energy Corporation have varied over the past eight quarters. In Q4 2022, the DOH was 97.89 days, increased to 118.93 days in Q3 2022, and then decreased to 83.29 days in Q2 2022, and further dropped to 49.25 days in Q1 2022. However, there was an upward trend beginning in Q1 2023, with DOH at 64.60 days, which increased to 87.57 days in Q2 2023, and further to 118.10 days in Q3 2023. In Q4 2023, the DOH was recorded at 117.53 days.

This trend indicates fluctuations in the efficiency of CMS Energy Corporation's inventory management. A higher DOH implies a longer time it takes for the company to sell its inventory, indicating potential overstocking or slower sales. Conversely, a lower DOH suggests efficient inventory turnover. The recent increase in DOH may be a cause for concern, requiring further analysis to understand the factors influencing this metric and its impact on the company's operations and financial performance.