IDEXX Laboratories Inc (IDXX)

Days of inventory on hand (DOH)

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Inventory turnover 3.98 3.87 3.71 4.93 5.41
DOH days 91.79 94.36 98.50 74.06 67.46

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.98
= 91.79

IDEXX Laboratories Inc's days of inventory on hand (DOH) has shown an increasing trend over the past five years, from 67.46 days as of December 31, 2020, to 91.79 days as of December 31, 2024. This indicates that the company is holding inventory for a longer period before selling it. A higher DOH figure may suggest potential inefficiencies in inventory management or slower inventory turnover, which could tie up funds and impact profitability. It is important for the company to monitor and address the factors contributing to this increase in DOH to optimize inventory levels and improve overall operational efficiency.