Harmonic Inc (HLIT)
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 | 5.46 | 4.31 | 4.01 | 3.45 | 3.77 | 4.58 | 5.26 | 5.00 | 5.42 | 7.09 | 8.13 | 9.22 | 8.87 | 8.43 | 9.57 | 9.02 | 10.56 | 10.24 | 11.04 | 10.60 | |
| DOH | days | 66.83 | 84.72 | 90.97 | 105.89 | 96.86 | 79.71 | 69.44 | 73.01 | 67.32 | 51.47 | 44.88 | 39.61 | 41.14 | 43.29 | 38.16 | 40.48 | 34.58 | 35.66 | 33.07 | 34.43 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.46
= 66.83
The days of inventory on hand (DOH) for Harmonic, Inc. has fluctuated over the past eight quarters. In Q1 2022, the DOH was 110.92 days, and after a slight decrease in Q2 2022, it remained relatively stable in the following quarters. However, there was a significant decrease in Q4 2022 to 103.53 days before increasing again in the first two quarters of 2023.
The upward trend observed from Q1 2023 (157.84 days) to Q2 2023 (138.02 days) reversed in Q3 2023 with a decrease to 131.13 days, followed by a further decline in Q4 2023 to 103.78 days. This recent decrease in DOH may suggest that Harmonic, Inc. has been managing its inventory more efficiently or experiencing an increase in sales relative to its inventory levels.
Overall, the analysis of DOH indicates that Harmonic, Inc. may have adjusted its inventory management practices to improve operational efficiency and financial performance, which could potentially lead to better working capital management and higher profitability in the future.
Peer comparison
Dec 31, 2023