MSA Safety (MSA)

Days of inventory on hand (DOH)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Inventory turnover		3.19	2.66	2.93	3.06	3.19	2.85	2.69	2.53	2.52	2.40	2.41	2.50	2.81	3.15	3.28	3.40	3.83	2.92	3.36	3.95
DOH	days	114.31	136.98	124.58	119.38	114.43	127.97	135.75	144.43	144.58	151.89	151.63	146.25	129.91	115.95	111.27	107.41	95.29	125.19	108.63	92.37

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.19
= 114.31

The days of inventory on hand (DOH) for MSA Safety have shown fluctuations over the analyzed period. The DOH has ranged from a low of 92.37 days as of March 31, 2020, to a high of 151.89 days as of September 30, 2022.

There was a general increasing trend in DOH from 2020 to 2022, indicating that MSA Safety was carrying more inventory relative to its sales. However, from March 31, 2023, to December 31, 2024, the DOH decreased, showing that MSA Safety managed its inventory more efficiently during this period.

Overall, fluctuations in DOH may suggest changes in inventory management practices, demand patterns, or production efficiency within the company. It is important for MSA Safety to strike a balance between avoiding stockouts and minimizing carrying costs to optimize its inventory management strategy.