Enphase Energy Inc (ENPH)

Days of inventory on hand (DOH)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		5.77	8.56	9.44	9.91	9.06	8.14	7.95	9.47	11.12	11.03	15.72	13.83	10.26	11.13	14.41	13.32	12.57	11.08	13.56	18.26
DOH	days	63.26	42.64	38.66	36.84	40.29	44.86	45.89	38.55	32.81	33.11	23.22	26.39	35.58	32.80	25.32	27.40	29.03	32.93	26.92	19.99

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.77
= 63.26

The days of inventory on hand (DOH) for Enphase Energy Inc have fluctuated over the past eight quarters. In Q4 2023, the company had 63.26 days of inventory on hand, which was significantly higher than in the previous quarters. This increase may indicate an excess of inventory relative to sales demand during the period.

In Q3 2023, DOH decreased to 42.64 days, suggesting better inventory management compared to the preceding quarter. However, in Q2 and Q1 2023, the DOH further declined to 38.66 days and 36.84 days, respectively, indicating efficient inventory turnover during both periods.

Comparing these recent quarters to the same periods in 2022, Enphase Energy Inc managed its inventory more effectively in Q2 and Q1 2023, as DOH was lower than in Q2 and Q1 2022. Overall, the company has experienced some fluctuations in inventory management, but the downward trend in DOH in Q2 and Q1 2023 is a positive sign of improving efficiency in managing its inventory levels.