CTS Corporation (CTS)

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		5.99	5.63	6.05	5.94	6.04	5.81	5.41	6.40	6.63	6.38	6.63	6.32	6.21	6.77	6.39	6.67	7.37	6.88	7.20	7.23
DOH	days	60.94	64.81	60.31	61.40	60.39	62.79	67.47	57.01	55.04	57.17	55.01	57.73	58.74	53.89	57.14	54.74	49.50	53.05	50.70	50.48

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.99
= 60.94

The days of inventory on hand (DOH) for CTS Corp. has shown some fluctuations over the past eight quarters. In Q4 2023, the company had an average of 60.94 days of inventory on hand, showing a slight decrease from the previous quarter's 64.81 days. This indicates that the company was able to manage its inventory more efficiently during this period.

Looking at the trend over the past two years, there seems to be some seasonality in CTS Corp.'s inventory management. The highest DOH was recorded in Q3 2022 at 67.47 days, while the lowest was in Q2 2022 at 57.01 days. This fluctuation may be influenced by factors such as fluctuations in demand, production efficiencies, or inventory management practices.

Overall, CTS Corp. should continue monitoring and managing its inventory levels effectively to ensure optimal use of resources and minimize any potential carrying costs associated with excess inventory.