Crane NXT Co (CXT)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 7.26 | 19.81 | 4.83 | 4.59 | 4.14 | |
| DOH | days | 50.28 | 18.42 | 75.64 | 79.54 | 88.06 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 7.26
= 50.28
The days of inventory on hand (DOH) for Crane NXT Co have varied over the past five years, reflecting fluctuations in inventory management efficiency.
In 2023, the company had 50.28 days of inventory on hand, representing an increase from the previous year's 18.42 days. This indicates that Crane NXT Co held inventory for a longer period in 2023 compared to 2022, which may lead to higher carrying costs and potential obsolescence risks.
In 2022, the DOH decreased significantly to 18.42 days, suggesting improved inventory turnover and potentially more effective inventory management strategies implemented by the company.
The DOH was notably high in 2021, at 75.64 days, which indicates slower inventory turnover and potentially inefficient management of inventory levels during that year.
Similarly, in 2020 and 2019, the company had DOH of 79.54 days and 88.06 days, respectively, indicating prolonged periods of holding inventory before selling. This could tie up capital in inventory and increase the risks associated with holding excess stock.
Overall, the trend in DOH for Crane NXT Co over the past five years indicates varying levels of efficiency in managing inventory levels, with fluctuations likely influenced by factors such as demand variability, procurement practices, and production efficiency.
Peer comparison
Dec 31, 2023