Kennametal Inc (KMT)
Days of inventory on hand (DOH)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 2.54 | 2.47 | 2.62 | 2.63 | 2.77 | 2.60 | 2.50 | 2.50 | 2.57 | 2.38 | 2.31 | 2.33 | 2.39 | 2.39 | 2.50 | 2.61 | 2.71 | 2.58 | 2.45 | 2.50 | |
| DOH | days | 143.53 | 147.83 | 139.09 | 139.01 | 131.77 | 140.25 | 145.89 | 145.93 | 142.16 | 153.23 | 158.27 | 156.83 | 152.70 | 152.59 | 146.14 | 140.01 | 134.89 | 141.73 | 149.02 | 145.99 |
June 30, 2025 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.54
= 143.53
The analysis of Kennametal Inc.'s days of inventory on hand (DOH) over the specified periods reveals a generally stable cycle with moderate fluctuations. As of September 30, 2020, the DOH stood at approximately 146 days, indicating a relatively high inventory level relative to sales. By the end of 2020, this metric slightly increased to nearly 149 days, reflecting a marginal accumulation of inventory during that period.
In the subsequent quarters, the DOH exhibited minor variations, reaching approximately 142 days in March 2021 and decreasing further to about 135 days in June 2021. This decline suggests improved inventory efficiency or increased turnover rates in that quarter. However, the metric rose again towards the end of 2021, peaking at approximately 158 days in December 2022, which indicates a substantial buildup of inventory relative to sales during that time.
The first quarter of 2023 saw a modest decline to around 153 days, followed by a more noticeable reduction in inventory levels in the second quarter of 2023, where the DOH decreased to approximately 142 days. This trend continued into the third quarter of 2023, with the DOH slightly increasing to approximately 146 days.
From September 2023 onward, there was a notable downward trend, with the DOH decreasing to approximately 131.77 days in June 2024, which represents a significant improvement in inventory management efficiency. By the end of September 2024, the DOH was around 139 days, maintaining a relatively stable level. The subsequent quarter recorded a slight increase again to approximately 147.83 days in March 2025, followed by a modest decline to about 143.53 days in June 2025.
Overall, the data suggests periods of inventory accumulation, particularly toward the end of 2022, followed by a trend toward more efficient inventory management in 2023 and into mid-2024. The fluctuation indicates ongoing efforts to optimize inventory levels relative to sales and operational dynamics, with recent periods showing a trend toward improved turnover efficiency.