Quest Diagnostics Incorporated (DGX)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 32.63 | 33.59 | 31.63 | 26.03 | 40.95 | |
| DOH | days | 11.19 | 10.87 | 11.54 | 14.02 | 8.91 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 32.63
= 11.19
The days of inventory on hand (DOH) for Quest Diagnostics, Inc. have shown some fluctuations over the past five years. In 2023, the DOH was 11.19 days, slightly higher compared to 2022 when it was 10.87 days. This increase may indicate a slightly slower turnover of inventory, which could be a sign of inefficiency in inventory management.
In 2021, the DOH was 11.54 days, which was also higher compared to 2020 when it stood at 14.02 days. The decrease in DOH from 2020 to 2021 suggests a more efficient management of inventory levels during that period.
The lowest DOH was observed in 2019 at 8.91 days, indicating a faster turnover of inventory and potentially more effective inventory management practices during that year.
Overall, while there have been some fluctuations in the DOH for Quest Diagnostics over the past five years, it is important for the company to consistently monitor and adjust its inventory levels to optimize efficiency and maintain a healthy balance between carrying too much or too little inventory.
Peer comparison
Dec 31, 2023