Granite Construction Incorporated (GVA)
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 | 33.72 | 35.82 | 35.15 | 32.02 | 35.57 | 31.34 | 33.38 | 37.87 | 47.60 | 48.30 | 57.79 | 57.91 | 61.32 | 36.21 | 34.43 | 36.64 | 40.13 | 37.16 | 34.12 | 34.75 | |
| DOH | days | 10.83 | 10.19 | 10.38 | 11.40 | 10.26 | 11.65 | 10.94 | 9.64 | 7.67 | 7.56 | 6.32 | 6.30 | 5.95 | 10.08 | 10.60 | 9.96 | 9.09 | 9.82 | 10.70 | 10.50 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 33.72
= 10.83
To analyze Granite Construction Inc.'s Days of Inventory on Hand (DOH) over the past eight quarters, we observe a fluctuating trend.
In Q4 2023, the company had an average of 12.18 days of inventory on hand, which was higher compared to the previous quarter at 10.75 days in Q3 2023. This indicates that the company may have experienced an increase in inventory levels or slower inventory turnover during this period.
Looking back further, we can see that DOH was also higher in Q4 2022 at 10.81 days compared to Q3 2022 at 12.44 days. This suggests fluctuation in inventory management practices or demand patterns for Granite Construction Inc.
Overall, the company's DOH ratio has displayed variability within a range of 10.46 to 12.44 days over the past eight quarters. Further analysis would be needed to understand the factors driving these fluctuations and to assess the efficiency of the company's inventory management strategies.
Peer comparison
Dec 31, 2023