CTS Corporation (CTS)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.99 | 6.04 | 6.63 | 6.21 | 7.37 | |
| DOH | days | 60.94 | 60.39 | 55.04 | 58.75 | 49.50 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.99
= 60.94
The days of inventory on hand (DOH) for CTS Corp. have shown some fluctuations over the past five years.
In 2019, the company had a DOH of 49.50 days, which increased to 58.75 days in 2020. However, in 2021, there was a decrease in DOH to 55.04 days, indicating that the company managed its inventory more efficiently that year.
Subsequently, in 2022 and 2023, the DOH increased to 60.39 days and 60.94 days respectively. This indicates that the company might have experienced challenges in managing its inventory effectively during these two years.
Overall, it is important for CTS Corp. to closely monitor its inventory levels and implement strategies to optimize its inventory management to ensure efficient operations and maximize profitability.
Peer comparison
Dec 31, 2023