Mesa Laboratories Inc (MLAB)

Days of inventory on hand (DOH)

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Inventory turnover		2.54	2.31	2.57	2.41	2.46	1.87	2.41	2.15	2.09	2.73	4.30	2.03	4.20	4.11	4.43	4.02	4.69	2.54	6.13	6.07
DOH	days	143.80	158.23	142.14	151.38	148.08	195.48	151.52	169.47	174.47	133.80	84.80	179.51	86.95	88.88	82.35	90.82	77.88	143.64	59.54	60.13

March 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.54
= 143.80

The days of inventory on hand (DOH) for Mesa Laboratories Inc have exhibited fluctuations over the past several quarters. The company's DOH ranged from as high as 195.48 days on Dec 31, 2022, to as low as 59.54 days on Sep 30, 2019.

In recent quarters, Mesa Laboratories Inc has seen a decreasing trend in its DOH, indicating that the company is managing its inventory more efficiently. For example, the DOH decreased from 158.23 days on Dec 31, 2023, to 143.80 days on Mar 31, 2024.

However, there have been periods of volatility in the DOH, such as the significant increase from 84.80 days on Sep 30, 2021, to 179.51 days on Dec 31, 2021. This suggests potential challenges in managing inventory levels effectively during those periods.

Overall, Mesa Laboratories Inc should continue monitoring its DOH to ensure optimal inventory management, as a high DOH can tie up working capital and lead to increased carrying costs, while a low DOH may lead to stockouts and lost sales opportunities.