Marathon Oil Corporation (MRO)

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		1.75	1.89	2.48	2.46	2.48	4.30	4.84	6.41	6.86	11.48	11.04	10.60	13.41	7.32	7.58	7.77	9.12	22.72	22.92	22.78
DOH	days	208.89	193.63	147.30	148.62	147.18	84.86	75.43	56.94	53.23	31.79	33.07	34.43	27.22	49.83	48.12	46.98	40.00	16.07	15.93	16.02

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.75
= 208.89

By examining the trend of Marathon Oil Corporation's Days of Inventory on Hand (DOH) over the past eight quarters, it is observed that the DOH has displayed some fluctuations. In Q4 2023, the DOH increased to 81.99 days from 80.60 days in the previous quarter, indicating a slight decrease in inventory turnover efficiency. Comparing this with Q1 2022, where the DOH was 50.39 days, there has been an overall upward trend in inventory holding periods.

The highest DOH was recorded in Q4 2022 at 66.12 days, showing that the company held inventory for a longer period during that quarter. However, in Q2 2023, there was a significant decrease to 62.92 days, suggesting better inventory management during that period.

Overall, Marathon Oil Corporation should closely monitor its inventory levels and workflow processes to optimize inventory turnover, improve liquidity, and minimize holding costs.