Dover Corporation (DOV)
Days of inventory on hand (DOH)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 4.44 | 4.29 | 4.32 | 4.29 | 4.37 | 4.22 | 3.89 | 3.89 | 3.98 | 3.79 | 3.78 | 3.86 | 4.15 | 4.54 | 4.73 | 4.79 | 5.04 | 5.01 | 4.82 | 5.23 | |
| DOH | days | 82.28 | 84.99 | 84.45 | 85.08 | 83.55 | 86.40 | 93.83 | 93.82 | 91.62 | 96.24 | 96.65 | 94.65 | 88.05 | 80.31 | 77.18 | 76.23 | 72.47 | 72.79 | 75.78 | 69.76 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.44
= 82.28
Based on the data provided, Dover Corporation's days of inventory on hand (DOH) has shown some fluctuation over the past few years. The trend indicates an increase in the number of days inventory is held by the company.
Initially, the DOH was around 70 days in March 2020, and it increased gradually until it reached its peak at 96.65 days in June 2022. After that peak, there was a slight decrease in the DOH, but it remained relatively high compared to the earlier periods.
This increase in DOH may suggest that Dover Corporation is carrying more inventory on hand relative to its sales volume. A higher DOH could indicate inefficiencies in inventory management, such as overstocking or slow-moving inventory, which could tie up financial resources and lead to increased holding costs.
Management should closely monitor inventory levels and adjust their purchasing and production processes to optimize inventory turnover and reduce the DOH. By improving inventory management practices, Dover Corporation can potentially enhance working capital efficiency and profitability.
Peer comparison
Dec 31, 2024