Granite Construction Incorporated (GVA)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 33.56 | 37.72 | 47.60 | 61.32 | 40.13 | |
| DOH | days | 10.87 | 9.68 | 7.67 | 5.95 | 9.09 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 33.56
= 10.87
Granite Construction Inc.'s Days of Inventory on Hand (DOH) has shown a fluctuating trend over the past five years. The company's DOH was 12.18 days at the end of 2023, which increased compared to the previous year. This indicates that, on average, Granite Construction Inc. held inventory for approximately 12.18 days before selling it.
In 2022, the DOH was 10.81 days, which was higher than in 2021 but lower than in 2020. This suggests a slight increase in the time taken to sell inventory compared to the previous year.
In 2021, the DOH was 8.36 days, marking a decrease from the prior year. This implies that the company effectively managed its inventory by reducing the number of days it held inventory before selling it.
In 2020, the DOH was 9.34 days, which was slightly lower compared to 2019. This indicates an improvement in inventory turnover efficiency, as the company took fewer days to sell its inventory.
In 2019, the DOH was 10.06 days, showing a moderate increase compared to the previous year. This implies that Granite Construction Inc. held its inventory for a longer period before selling it.
Overall, fluctuations in Granite Construction Inc.'s DOH over the past five years suggest varying levels of inventory management efficiency. A decreasing trend in DOH indicates better management of inventory levels, while an increasing trend may signal potential inefficiencies in inventory turnover.
Peer comparison
Dec 31, 2023