MarineMax Inc (HZO)
Days of inventory on hand (DOH)
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 1.92 | 3.31 | 6.08 | 3.73 | 1.91 | |
| DOH | days | 190.26 | 110.39 | 60.06 | 97.90 | 190.61 |
September 30, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.92
= 190.26
The days of inventory on hand (DOH) for Marinemax, Inc. have fluctuated over the past five years. In 2023, the DOH increased significantly to 190.26 days from 110.39 days in 2022. This suggests that the company took longer to sell off its inventory in 2023 compared to the previous year. The high DOH indicates a potential inefficiency in managing inventory levels or a decrease in demand for the company's products.
Looking back, in 2021, the DOH was 60.06 days, indicating a more efficient management of inventory, possibly resulting from improved inventory control or increased demand for the company's products. However, in 2020, the DOH rose to 97.90 days, signifying a slower turnover of inventory.
The DOH peaked at 190.61 days in 2019, mirroring the 2023 levels and indicating an extended period for Marinemax, Inc. to sell off its inventory at that time.
Overall, the upward and downward fluctuations in the DOH for Marinemax, Inc. suggest potential challenges in maintaining optimal inventory levels or fluctuations in customer demand. Further analysis of the company's inventory management practices and market conditions may provide insights into the reasons behind these fluctuations and inform strategies for improvement.
Peer comparison
Sep 30, 2023