ELF Beauty Inc (ELF)

Days of inventory on hand (DOH)

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Inventory turnover		4.66	6.33	4.38	5.59	5.61
DOH	days	78.27	57.64	83.29	65.31	65.07

March 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.66
= 78.27

ELF Beauty Inc's days of inventory on hand (DOH) has shown fluctuations over the past five years. As of March 31, 2024, the company had 78.27 days of inventory on hand, indicating an increase compared to the previous year. This suggests that the company may be holding onto inventory for a longer period before it is sold.

In the preceding year, on March 31, 2023, the DOH was 57.64 days, reflecting a significant decrease from the year before. This may indicate a more efficient inventory management strategy or a faster turnover of inventory during that period.

On March 31, 2022, ELF Beauty Inc's DOH was recorded at 83.29 days, which was higher than the previous year. This could imply potential challenges in inventory management, such as slow sales or overstocking.

In contrast, on March 31, 2021, the DOH was 65.31 days, showing a slight decrease from the prior year. This indicated a better management of inventory levels compared to the year before.

Going back to March 31, 2020, the DOH was 65.07 days, similar to the following year. This consistency might suggest stability in inventory management practices during that period.

Overall, fluctuations in ELF Beauty Inc's days of inventory on hand reflect varying levels of efficiency and effectiveness in managing inventory throughout the five-year period. Monitoring this metric is crucial for evaluating the company's inventory turnover and operational performance.