HNI Corp (HNI)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 11.96 | 12.57 | 11.59 | 13.78 | 12.86 | |
| DOH | days | 30.51 | 29.04 | 31.48 | 26.49 | 28.39 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 11.96
= 30.51
The days of inventory on hand (DOH) for HNI Corp has shown some fluctuation over the past five years. In 2023, the DOH increased to 30.51 days from 29.04 days in 2022. This indicates that the company held inventory for a slightly longer period in 2023 compared to the previous year.
Looking back further, in 2021, the DOH was 31.48 days, higher than both 2023 and 2022. In 2020, the DOH was 26.49 days, which was the lowest in the past five years. However, in 2019, the DOH increased to 28.39 days.
Overall, the trend in DOH for HNI Corp suggests some variability in inventory management efficiency over the years. A higher DOH value may imply that the company is taking longer to turn its inventory into sales, which could tie up capital and increase holding costs. Conversely, a lower DOH may indicate efficient inventory management and quick turnover. It would be important for the company to analyze the reasons behind these fluctuations and potentially implement strategies to optimize its inventory management processes for better financial performance.