Hess Corporation (HES)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 2.14 | 2.85 | 1.96 | 6.84 | 2.26 | |
| DOH | days | 170.71 | 127.96 | 186.26 | 53.33 | 161.47 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.14
= 170.71
As the data for Hess Corporation's days of inventory on hand (DOH) for the past five years is not available, a trend analysis or comparison cannot be performed. DOH is a financial ratio that measures the average number of days it takes for a company to sell its inventory. It is calculated by dividing the average inventory by the cost of goods sold and multiplying by 365 days.
A lower DOH indicates that the company is selling its inventory more quickly, which can be a positive sign of efficient inventory management. On the other hand, a higher DOH may suggest that the company is carrying excess inventory which could tie up capital and impact profitability.
Without specific data for Hess Corporation's DOH, it is challenging to assess the efficiency of their inventory management practices over the past five years. Additional information and context would be needed to provide a more thorough analysis of this financial ratio.
Peer comparison
Dec 31, 2023