Marathon Petroleum Corp (MPC)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		14.16	17.54	14.03	9.71	11.76
DOH	days	25.78	20.81	26.01	37.60	31.04

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 14.16
= 25.78

Based on the data provided, Marathon Petroleum Corp's days of inventory on hand (DOH) have fluctuated over the past five years. In 2023, the company had an average of 26.45 days of inventory on hand, which represents a slight increase compared to the previous year (21.24 days). The increase in DOH may indicate that the company is holding onto inventory for a longer period before selling it.

When comparing 2023 to 2021, there is a slight decrease in DOH from 26.73 days to 26.45 days. This suggests that the company's inventory management improved slightly during this period. However, compared to 2020 and 2019, where DOH was significantly higher at 44.42 days and 33.91 days respectively, the current level of 26.45 days appears to be more efficient.

Overall, Marathon Petroleum Corp's days of inventory on hand have shown variability over the past five years, with the company making efforts to manage its inventory more effectively. It is important for the company to continue monitoring and optimizing its inventory levels to ensure efficient operations and improved financial performance.