Dover Corporation (DOV)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.94 | 5.35 | 5.70 | 7.10 | 5.60 | |
| DOH | days | 61.42 | 68.16 | 63.98 | 51.41 | 65.16 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.94
= 61.42
The days of inventory on hand (DOH) for Dover Corp. have exhibited fluctuations over the past five years. In 2023, the DOH was recorded at 83.55 days, showing a decrease from the previous year's figure of 91.62 days. This suggests that Dover Corp. has been able to manage its inventory more efficiently in 2023 compared to 2022.
Looking further back, in 2021, the DOH was 88.05 days, indicating a slight decrease in inventory turnover efficiency compared to 2020 when the DOH was 72.47 days. However, in both these years, the DOH was higher than in 2023, indicating that inventory management was more effective in the most recent year.
In 2019, the lowest DOH of 65.16 days was recorded, implying that Dover Corp. was able to turn over its inventory more quickly that year compared to the subsequent years. Overall, the trend in the DOH for Dover Corp. shows some variability, with fluctuations in inventory management efficiency over the past five years.
Peer comparison
Dec 31, 2023