Minerals Technologies Inc (MTX)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 6.03 | 5.37 | 5.43 | 5.59 | 6.16 | |
| DOH | days | 60.55 | 68.01 | 67.27 | 65.27 | 59.22 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 6.03
= 60.55
The Days of Inventory on Hand (DOH) for Minerals Technologies, Inc. has shown some fluctuation over the past five years. In 2023, the company held its inventory for an average of 71.43 days before selling it, showing a slight decrease from the previous year's 76.67 days. This reduction in DOH indicates the company's ability to efficiently manage its inventory levels.
Comparing the data further, we see that in 2021 and 2020, the DOH was relatively stable at around 76 days. However, in 2019, the company had a lower DOH of 68.46 days, suggesting a more efficient inventory turnover during that period.
Overall, the trend in DOH for Minerals Technologies, Inc. indicates that the company has been progressively improving its inventory management practices over the years, with a slight decrease in the number of days inventory is held before being sold in 2023 compared to the previous year.
Peer comparison
Dec 31, 2023