Callaway Golf Company (MODG)
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 | 1.41 | 1.52 | 1.32 | 1.16 | 1.10 | 1.42 | 1.67 | 1.76 | 1.64 | 2.85 | 3.80 | 4.49 | 4.93 | 5.16 | 4.34 | 3.81 | 3.54 | 4.36 | 3.75 | 3.33 | |
| DOH | days | 259.75 | 240.86 | 277.12 | 314.97 | 333.25 | 256.50 | 218.82 | 207.96 | 221.95 | 127.87 | 95.95 | 81.25 | 74.04 | 70.77 | 84.06 | 95.93 | 103.14 | 83.72 | 97.29 | 109.51 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.41
= 259.75
Days of Inventory on Hand (DOH) measures the number of days a company holds its inventory before it is sold. A higher DOH indicates slower inventory turnover, potentially signaling inefficiencies or overstocking.
Analyzing the trend of Topgolf Callaway Brands Corp's DOH over the past eight quarters, we observe fluctuations in inventory management. In Q1 2022, the company had 144.09 days of inventory on hand, which progressively increased to a peak of 220.94 days in Q4 2022, signifying a considerable slowdown in inventory turnover.
However, from Q1 2023 onwards, there was a declining trend in DOH, indicating improved efficiency in managing inventory levels. Notably, in Q2 2022, DOH dropped to 147.90 days, demonstrating a significant improvement in inventory turnover efficiency.
The latest data for Q4 2023 reflects a DOH of 177.81 days, which suggests a mild increase compared to the previous quarter but still marks an overall improvement compared to previous periods.
In conclusion, while Topgolf Callaway Brands Corp has shown fluctuations in inventory management over the analyzed period, there are recent signs of better inventory control. Further monitoring of DOH will be essential to assess the company's ongoing efforts to optimize inventory levels and enhance operational performance.
Peer comparison
Dec 31, 2023