Green Brick Partners Inc (GRBK)

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		0.80	0.85	0.88	0.93	0.87	0.87	0.90	0.87	0.86	0.76	0.77	0.82	0.88	0.94	0.92	0.85	0.83	0.80	0.75	0.74
DOH	days	455.15	430.63	415.38	392.45	420.55	421.72	404.99	421.13	422.13	480.19	476.95	446.61	415.81	388.31	397.72	430.34	441.80	458.84	486.58	491.50

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 0.80
= 455.15

Green Brick Partners Inc's days of inventory on hand (DOH) have been fluctuating over the past eight quarters. In Q4 2023, the company had an elevated DOH of 455.15 days, indicating that it took the company approximately 455 days to sell its inventory. This figure decreased in Q3 2023 to 430.63 days, before further declining in Q2 2023 to 415.38 days.

The DOH increased to 392.45 days in Q1 2023, which was the lowest level over the last eight quarters. However, this metric has been somewhat volatile, with fluctuations occurring from quarter to quarter. Comparing to the relevant quarters in the prior year, Q4 2022 saw a DOH of 420.55 days, Q3 2022 had 421.72 days, and Q2 2022 had 404.99 days, while Q1 2022 reported 421.13 days.

This trend suggests that the company has been managing its inventory relatively well in recent quarters, with a lower DOH indicating efficient inventory turnover. However, the volatility in the DOH figures may require further investigation to understand the underlying reasons and assess the effectiveness of Green Brick Partners Inc's inventory management strategy.