HNI Corp (HNI)

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		11.10	9.08	8.48	10.54	12.57	10.39	10.14	10.63	11.59	10.84	10.41	12.12	13.78	13.33	12.88	12.42	12.86	11.57	10.81	12.37
DOH	days	32.88	40.20	43.06	34.62	29.04	35.13	36.00	34.34	31.48	33.67	35.06	30.12	26.49	27.39	28.33	29.38	28.39	31.56	33.76	29.50

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 11.10
= 32.88

The days of inventory on hand (DOH) for HNI Corp has exhibited some fluctuations over the past few quarters. The trend indicates some volatility with the DOH ranging from a low of 26.49 days to a high of 43.06 days.

In the most recent quarter (December 31, 2023), the company had 32.88 days of inventory on hand, showing a decrease from the previous quarter. This suggests that the company may be managing its inventory more efficiently, leading to a lower number of days required to sell its inventory.

It is important for HNI Corp to closely monitor its inventory levels to ensure optimal utilization of resources and minimize carrying costs. Further analysis and comparison with industry benchmarks could provide more insights into the company's inventory management performance.