Fulgent Genetics Inc (FLGT)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 31.71 | 58.89 | 17.66 | 5.45 | 50.93 | |
| DOH | days | 11.51 | 6.20 | 20.67 | 67.02 | 7.17 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 31.71
= 11.51
The days of inventory on hand (DOH) for Fulgent Genetics Inc has shown significant fluctuations over the past five years.
In 2019, the company had a DOH of 7.17 days, indicating that, on average, Fulgent Genetics held its inventory for approximately a week before selling it. This relatively low DOH suggests efficient inventory management.
The DOH increased substantially to 67.02 days in 2020, which may suggest inventory management issues or challenges that led to a slower turnover of inventory. However, the company was able to significantly improve its inventory turnover in the following year.
By 2021, the DOH had decreased to 20.67 days, indicating that Fulgent Genetics was able to reduce the time it took to convert inventory into sales. This improvement in inventory turnover efficiency was positive for the company.
In 2022, Fulgent Genetics made significant progress in managing its inventory as the DOH dropped even further to 6.20 days, reflecting a more streamlined inventory management process and potentially better forecasting and demand planning.
It is important to note that there is missing data for 2023, which limits the ability to provide a full analysis for that year. Overall, the trend in Fulgent Genetics' inventory turnover indicates improvements in managing its inventory efficiently over the years, with a notable decrease in DOH from 2020 to 2022.
Peer comparison
Dec 31, 2023