IDEX Corporation (IEX)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 4.34 | 3.73 | 4.16 | 4.57 | 4.67 | |
| DOH | days | 84.07 | 97.94 | 87.77 | 79.91 | 78.21 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.34
= 84.07
The days of inventory on hand (DOH) for Idex Corporation has shown some fluctuations over the past five years. In 2023, the DOH was 84.07 days, indicating that the company held inventory for an average of 84.07 days before it was sold. This represents a decrease from the previous year, where the DOH was 97.94 days. The reduction in DOH from 2022 to 2023 suggests that Idex Corporation managed its inventory more efficiently and turned its inventory into sales at a faster rate.
Comparing the 2023 DOH to the figures for 2021, 2020, and 2019, we see a similar pattern of fluctuation. In 2021, the DOH was 87.77 days, which decreased slightly to 79.91 days in 2020 before increasing again to 78.21 days in 2019. These fluctuations indicate that Idex Corporation has been actively managing its inventory levels but may face challenges in achieving consistent efficiency in this area.
Overall, the trend in the DOH for Idex Corporation shows some variability, with occasional improvements in inventory management efficiency. However, the company may benefit from further efforts to streamline its inventory processes and reduce the number of days it takes to turn inventory into sales.
Peer comparison
Dec 31, 2023