CVR Energy Inc (CVI)

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		13.20	13.64	16.88	15.71	15.65	14.89	11.81	11.08	14.51	14.71	13.76	11.77	13.83	16.42	18.92	26.58	15.18	14.89	15.61	15.83
DOH	days	27.65	26.75	21.62	23.23	23.32	24.52	30.91	32.95	25.15	24.82	26.52	31.01	26.40	22.23	19.29	13.73	24.05	24.51	23.39	23.06

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 13.20
= 27.65

The days of inventory on hand (DOH) for CVR Energy Inc has shown fluctuations over the past eight quarters. In Q4 2023, the DOH was 31.44 days, showing a slight increase from the previous quarter's 30.26 days. However, compared to Q2 and Q1 2023, where the DOH was 24.40 days and 25.97 days respectively, there has been an increase in the number of days the company holds inventory.

When looking at the trend over a longer period, Q4 2022 had a DOH of 25.98 days, indicating a slight increase compared to the latest quarter. The highest DOH in the past eight quarters was in Q1 2022 with 37.19 days, while the lowest was in Q2 2023 with 24.40 days.

Overall, the fluctuations in the DOH for CVR Energy Inc suggest varying levels of efficiency in managing inventory levels. It is important for the company to monitor and control its inventory effectively to optimize working capital and enhance operational performance.