MarineMax Inc (HZO)
Days of inventory on hand (DOH)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 1.80 | 1.87 | 1.73 | 1.81 | 1.92 | 2.04 | 2.08 | 2.51 | 3.31 | 3.88 | 4.43 | 4.37 | 6.08 | 6.68 | 4.33 | 3.10 | 3.73 | 3.34 | 1.89 | 1.94 | |
| DOH | days | 203.04 | 194.67 | 211.01 | 201.13 | 190.26 | 178.84 | 175.12 | 145.57 | 110.39 | 94.19 | 82.45 | 83.57 | 60.06 | 54.66 | 84.32 | 117.69 | 97.90 | 109.25 | 192.66 | 187.80 |
September 30, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.80
= 203.04
The days of inventory on hand (DOH) for MarineMax Inc have fluctuated over the past few years, indicating varying efficiency in managing inventory levels. The trend shows an increase in DOH from the end of 2019 to the first half of 2024, peaking at 211.01 days in March 2024. This suggests that the company may have been holding onto inventory for longer periods, which could tie up working capital and potentially lead to increased carrying costs.
However, there was a notable improvement in inventory management from the end of 2022 to mid-2023, with DOH decreasing steadily during this period. The lowest point was reached in September 2021 at 54.66 days, indicating a more efficient management of inventory levels at that time.
It is important for MarineMax Inc to strike a balance in its inventory management to avoid excess stock that may become obsolete or incur unnecessary costs, while ensuring that enough inventory is on hand to meet customer demand and prevent stockouts. Monitoring and analyzing DOH regularly will be crucial for the company to optimize inventory levels and improve overall operational efficiency.
Peer comparison
Sep 30, 2024