LeMaitre Vascular Inc (LMAT)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		2.54	2.48	2.40	2.05	2.27
DOH	days	143.79	147.39	151.82	178.42	160.50

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.54
= 143.79

To analyze Lemaitre Vascular Inc's Days of Inventory on Hand (DOH) trend, we observe that the company's DOH has fluctuated over the past five years. In 2019, the DOH was at its highest point at 338.15 days, indicating that the company held inventory for an average of approximately 338 days before selling it.

Subsequently, there was a slight decrease in DOH in 2020 when it dropped to 319.46 days. However, the DOH increased again in 2021 to 279.71 days, showing that the company held inventory for a shorter period before selling it compared to the previous year.

In 2022, there was a further decrease in DOH to 291.20 days, suggesting more efficient inventory management practices. However, in 2023, the DOH increased to 319.10 days, moving closer to the levels seen in 2020.

Overall, the fluctuation in Lemaitre Vascular Inc's DOH indicates variations in inventory management efficiency over the years. It is essential for the company to analyze the underlying reasons for these fluctuations to optimize inventory levels and improve liquidity and profitability in the future.