Gentex Corporation (GNTX)

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		4.15	4.10	4.05	3.75	3.55	3.28	3.27	3.41	3.88	4.32	4.89	5.14	5.28	4.98	4.52	5.09	5.13	5.41	5.65	5.57
DOH	days	88.02	89.12	90.10	97.31	102.69	111.15	111.77	107.09	94.17	84.54	74.69	70.99	69.11	73.35	80.78	71.67	71.09	67.44	64.60	65.53

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.15
= 88.02

The days of inventory on hand (DOH) for Gentex Corp. has shown a declining trend over the past few quarters. In Q4 2023, the DOH was 95.60 days, indicating that the company held inventory for approximately 95.60 days before selling it. This represents an improvement compared to previous quarters, where DOH ranged from 96.83 days to 123.79 days.

The decreasing trend in DOH could suggest more efficient inventory management practices by Gentex Corp., leading to quicker turnover of inventory and potentially lower carrying costs. However, it is important to monitor this ratio over time to ensure that inventory levels are not being depleted too quickly, which could result in stockouts or production disruptions.

Overall, the downward trend in DOH for Gentex Corp. is a positive indicator of improving inventory management efficiency, which could positively impact the company's financial performance and cash flow in the future.