Chevron Corp (CVX)

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		14.74	14.03	15.01	16.11	18.44	16.02	16.78	16.94	14.09	13.89	12.03	11.38	10.81	13.13	14.71	14.03	16.54	15.29	14.09	14.84
DOH	days	24.77	26.01	24.32	22.65	19.79	22.79	21.75	21.55	25.91	26.28	30.35	32.07	33.76	27.80	24.82	26.02	22.07	23.87	25.91	24.60

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 14.74
= 24.77

Based on the data provided for Chevron Corp.'s days of inventory on hand (DOH) over the past eight quarters, there has been some fluctuation in the efficiency of managing inventory levels. The DOH ranged from a low of 20.70 days in Q4 2022 to a high of 27.44 days in Q3 2023.

Overall, there seems to be a slight upward trend in DOH over the past two quarters. This could suggest that Chevron may be experiencing challenges in efficiently managing their inventory levels, potentially leading to higher carrying costs and lower liquidity.

It is important for Chevron to closely monitor and optimize their inventory management practices to ensure that their inventory turnover remains efficient and in line with industry standards. Additionally, they may want to explore strategies to reduce excess inventory and improve their cash flow by minimizing the number of days inventory is held.