Coty Inc (COTY)

Days of inventory on hand (DOH)

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Inventory turnover 2.61 2.98 3.05 2.82 2.91 2.89 2.82 2.49 2.35 2.44 2.64 2.86 2.93 2.97 3.19 2.88 2.86 2.94 3.20 3.13
DOH days 139.96 122.62 119.48 129.59 125.26 126.45 129.65 146.59 155.22 149.32 138.27 127.81 124.77 122.89 114.43 126.82 127.59 124.22 114.14 116.62

June 30, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.61
= 139.96

The analysis of Coty Inc.'s days of inventory on hand (DOH) over the period from September 2020 through June 2025 reveals several notable trends and fluctuations. Initially, in September 2020, the DOH stood at approximately 116.62 days. This figure decreased slightly over the subsequent quarter, reaching around 114.14 days by the end of 2020, indicating an improvement in inventory management or accelerated turnover during that period.

Entering 2021, the DOH experienced an upward movement, peaking at approximately 127.59 days by June 2021. This increase suggests that inventory was held longer, possibly due to strategic stockpiling, supply chain disruptions, or changes in market demand. The increasing trend persisted into September 2021, with DOH reaching about 126.82 days, before decreasing again toward the end of the year, with December 2021's DOH at approximately 114.43 days, reverting to levels similar to late 2020.

In 2022, the DOH once again exhibited an upward trend, reaching approximately 138.27 days in December, indicative of longer inventory periods, which may point to either slower sales, increased inventory levels, or strategic inventory buildup. The DOH continued to increase through the first quarter of 2023, peaking at around 149.32 days in March 2023, further emphasizing a significant elongation in inventory holding period.

Subsequently, the DOH experienced a gradual decline, with figures showing 155.22 days in June 2023, then decreasing to 146.59 days by September 2023, and further to 129.65 days at the end of December 2023. This reduction could signal an improvement in inventory turnover or supply chain efficiencies. In early 2024, the DOH fluctuated slightly but remained within a range of approximately 119.48 to 126.45 days through March to June, before trending upward again to about 129.59 days in September 2024. The level then declined to approximately 119.48 days at the end of 2024.

In the first half of 2025, the DOH initially increased to around 122.62 days in March before rising significantly to approximately 139.96 days in June. Overall, the data illustrates that Coty’s inventory holding period has experienced considerable variability over the analyzed period, with notable peaks in mid-2023 and early 2025, and periods of reduction indicating potential operational improvements or strategic adjustments. The fluctuations suggest responses to external market conditions, supply chain factors, or internal inventory management policies over the analyzed timeframe.