Myers Industries Inc (MYE)
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 | 8.24 | 8.00 | 8.14 | 8.00 | 8.81 | 7.55 | 7.31 | 7.61 | 7.69 | 7.34 | 7.48 | 7.55 | 7.21 | 9.39 | 9.09 | 9.54 | 11.01 | 11.61 | 12.30 | 12.33 | |
| DOH | days | 44.32 | 45.61 | 44.87 | 45.61 | 41.42 | 48.37 | 49.93 | 47.99 | 47.45 | 49.72 | 48.83 | 48.31 | 50.65 | 38.86 | 40.15 | 38.28 | 33.14 | 31.45 | 29.67 | 29.59 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 8.24
= 44.32
To analyze Myers Industries Inc.'s days of inventory on hand (DOH) trend, we observe fluctuations in the metric over the past eight quarters. The company has shown a range of DOH figures, with Q3 2022 reporting the highest at 65.63 days and Q4 2022 showing the lowest at 55.30 days.
It is noted that there was an overall decreasing trend in DOH from Q3 2022 to Q4 2022, followed by an increasing trend until Q3 2023. Q3 2023 and Q2 2023 recorded the highest DOH figures among the quarters analyzed, indicating a longer period for inventory turnover during these periods. Conversely, Q4 2023 experienced a decrease again in DOH, suggesting improved efficiency in managing inventory levels towards the end of the year.
The variations in DOH may indicate changes in inventory management practices, production levels, demand fluctuations, or supply chain efficiency within Myers Industries Inc. The company should continue to monitor and optimize its inventory turnover to ensure efficient use of resources and timely response to market demands.
Peer comparison
Dec 31, 2023