3D Systems Corporation (DDD)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		5.64	4.43	6.63	5.78	5.92
DOH	days	64.68	82.37	55.05	63.19	61.68

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.64
= 64.68

The Days of Inventory on Hand (DOH) ratio for 3D Systems Corporation has varied over the past five years. In 2023, the company had 64.68 days of inventory on hand, a decrease from the previous year's 82.37 days. This indicates that the company was more efficient in managing its inventory levels in 2023 compared to 2022.

Looking further back, in 2021, 3D Systems had 55.05 days of inventory on hand, showing a relatively lower inventory holding period, possibly indicating better inventory management practices during that period. The DOH ratio was slightly higher in 2020 at 63.19 days and 61.68 days in 2019.

Overall, the decreasing trend in the DOH ratio from 2022 to 2023 suggests that 3D Systems may have implemented more effective inventory management strategies to streamline its operations and reduce excess inventory levels. However, it's essential to monitor this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial health and operational efficiency.