Gentex Corporation (GNTX)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		4.15	3.55	3.88	5.28	5.13
DOH	days	88.03	102.68	94.17	69.11	71.09

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.15
= 88.03

The Days of Inventory on Hand (DOH) for Gentex Corp. has shown fluctuations over the past five years.

In 2023, the company had an average of 95.60 days of inventory on hand, which decreased from 112.74 days in 2022. This indicates that Gentex was able to manage its inventory more efficiently in 2023 compared to the previous year.

Looking further back, in 2021, the DOH was at 103.86 days, which was higher compared to 2020 when it was at 76.28 days. This suggests that in 2021, Gentex may have faced challenges in managing its inventory levels, which improved in 2020.

In 2019, the DOH was at 77.62 days, showing a slight decrease from the previous year. This indicates that Gentex was able to maintain a relatively stable inventory turnover during that period.

Overall, fluctuations in the Days of Inventory on Hand for Gentex Corp. reflecting changes in inventory management efficiency over the years. Companies strive to find the right balance between having enough inventory to meet demand while avoiding unnecessary holding costs, and analyzing this ratio can provide valuable insights into a company's operational effectiveness.