MDU Resources Group Inc (MDU)

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		37.77	47.95	77.40	12.22	77.93	53.15	87.10	11.05	12.23	13.11	12.95	12.78	13.94	14.15	13.36	13.20	14.08	13.27	10.98	11.03
DOH	days	9.66	7.61	4.72	29.87	4.68	6.87	4.19	33.04	29.84	27.84	28.19	28.55	26.18	25.79	27.31	27.65	25.93	27.51	33.24	33.09

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 37.77
= 9.66

The days of inventory on hand (DOH) for MDU Resources Group Inc have shown significant fluctuations over the last few quarters. In Q4 2023, the DOH stood at 37.49 days, indicating an increase from the previous quarter's 30.71 days. This suggests that the company is holding inventory for a longer period before it is sold. However, compared to Q2 and Q1 of 2023, the DOH has decreased, indicating improved inventory management efficiency during these periods.

The unusually high DOH of 163.34 days in Q1 2023 is a notable outlier and may require further investigation into the reasons behind such a prolonged inventory holding period. The DOH figures from Q4 2022 to Q2 2022 were consistently high, indicating potential issues with inventory turnover and management during that period.

Overall, MDU Resources Group Inc's DOH has been volatile, with fluctuations ranging from as low as 23.10 days to as high as 211.58 days over the past few quarters. This variability suggests that the company's inventory management practices may need closer scrutiny to ensure optimal efficiency and cost control in the future.