Healthcare Services Group Inc (HCSG)
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 | 88.41 | 85.79 | 81.93 | 80.85 | 77.53 | 72.83 | 69.96 | 65.43 | 61.21 | 58.59 | 55.85 | 55.08 | 52.15 | 51.28 | 50.65 | 46.45 | 48.39 | 46.30 | 46.15 | 45.81 | |
| DOH | days | 4.13 | 4.25 | 4.45 | 4.51 | 4.71 | 5.01 | 5.22 | 5.58 | 5.96 | 6.23 | 6.54 | 6.63 | 7.00 | 7.12 | 7.21 | 7.86 | 7.54 | 7.88 | 7.91 | 7.97 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 88.41
= 4.13
Healthcare Services Group, Inc. has shown a decreasing trend in its days of inventory on hand (DOH) over the past eight quarters. The company managed to reduce its DOH from 6.24 days in Q1 2022 to 4.63 days in Q4 2023. This signifies that the company has been more efficient in managing its inventory levels, possibly through better inventory control and management strategies. Lower DOH indicates that the company is selling its inventory more quickly, which can lead to lower carrying costs and improved cash flow. The consistent decrease in DOH demonstrates an improvement in inventory management efficiency for Healthcare Services Group, Inc.