Kirby Corporation (KEX)

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		0.76	0.67	0.67	0.68	0.67	0.76	1.70	1.72	1.86	1.97	0.81	0.81	2.68	2.48	2.38	2.35	0.69	0.71	0.69	0.65
DOH	days	483.09	543.57	548.55	536.39	543.28	480.78	214.81	211.69	196.53	185.63	452.56	448.47	136.27	147.23	153.39	155.29	529.73	517.60	530.46	564.00

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 0.76
= 483.09

To analyze Kirby Corp.'s days of inventory on hand (DOH) for the given periods, we need the specific inventory balances for each quarter in addition to the cost of goods sold (COGS). Without the numerical data for both inventory and COGS, it is not possible to calculate the DOH ratio, which is typically determined by dividing the average inventory by the COGS, then multiplying by the number of days in the period.

Assuming we had the required data, a high DOH ratio indicates that the company is holding onto inventory for an extended period, which may suggest inefficient inventory management or slow sales. Conversely, a low DOH ratio could imply quick turnover of inventory, which is generally favorable as it reduces holding costs and the risk of inventory obsolescence.

Given the importance of accurate financial information in calculating this ratio and drawing meaningful conclusions, it is recommended to obtain complete data to conduct a thorough analysis of Kirby Corp.'s inventory management efficiency.