Fabrinet (FN)
Days of inventory on hand (DOH)
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 5.17 | 5.40 | 5.60 | 5.97 | 5.46 | 5.37 | 5.73 | 5.31 | 4.44 | 4.06 | 4.03 | 3.93 | 3.56 | 4.24 | 3.81 | 3.76 | 3.93 | 4.44 | 4.07 | 4.39 | |
| DOH | days | 70.55 | 67.61 | 65.18 | 61.10 | 66.91 | 67.94 | 63.65 | 68.72 | 82.13 | 89.94 | 90.50 | 92.77 | 102.46 | 86.09 | 95.77 | 96.95 | 92.93 | 82.24 | 89.78 | 83.23 |
June 30, 2025 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.17
= 70.55
The analysis of Fabrinet’s days of inventory on hand (DOH) over the specified period indicates a general trend toward inventory reduction. Starting from approximately 83.23 days as of September 30, 2020, the DOH experienced periodic fluctuations, reaching peaks near 96.95 days in September 2021 and 102.46 days in June 2022. These increases suggest periods where inventory levels were maintained at higher levels relative to sales activity.
Subsequently, a downward trend becomes evident beginning around late 2022 and into 2023. The DOH decreased consistently, reaching a low of approximately 61.10 days by September 2024—representing a significant reduction from the earlier peaks. This decline may reflect improved inventory management, better forecasting, or increased sales velocity, contributing to leaner inventory holdings.
Moving into 2025, the DOH shows minor fluctuations but remains relatively stable, with values around 67.61 days at the end of the first quarter and increasing slightly to approximately 70.55 days by the second quarter. Despite some variability, the overall trend signifies a move towards more efficient inventory turnover over the analyzed period.
Overall, the data demonstrates that Fabrinet has progressively optimized its inventory levels since the peaks observed in the early 2020s, aligning inventory holdings more closely with sales demand, which could contribute to improved working capital management and operational efficiency.