Corteva Inc (CTVA)
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 | 2.01 | 2.20 | 2.52 | 2.18 | 2.10 | 2.60 | 3.29 | 2.70 | 2.54 | 2.73 | 3.30 | 2.70 | 2.37 | 2.63 | 3.22 | 2.63 | 2.76 | ||||
| DOH | days | 181.93 | 165.79 | 144.99 | 167.72 | 173.70 | 140.28 | 110.78 | 135.27 | 143.76 | 133.84 | 110.54 | 135.34 | 153.93 | 138.98 | 113.20 | 138.72 | 132.13 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.01
= 181.93
The days of inventory on hand (DOH) for Corteva Inc has shown a fluctuating trend over the past eight quarters. In Q4 2023, the DOH stood at 253.84 days, indicating that the company held inventory for approximately 254 days before selling it. This represents a significant increase from the previous quarter's DOH of 229.21 days.
Looking at the historical data, we can observe that the DOH has been quite volatile, ranging from a low of 155.25 days in Q2 2022 to a high of 253.84 days in Q4 2023. Generally, a higher DOH suggests that Corteva Inc may be carrying excess inventory, which could tie up capital and potentially lead to higher holding costs.
It is essential for the company to effectively manage its inventory levels to optimize working capital and improve operational efficiency. Further analysis and monitoring of inventory turnover ratios and comparison with industry benchmarks can provide deeper insights into Corteva Inc's inventory management performance.
Peer comparison
Dec 31, 2023