Myriad Genetics Inc (MYGN)
Days of inventory on hand (DOH)
| 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 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 24.99 | 25.98 | 29.81 | 33.70 | 36.73 | 36.62 | 30.95 | 28.79 | 25.66 | 36.14 | 37.52 | 40.19 | 35.81 | 32.72 | 26.92 | 24.52 | 22.82 | 22.94 | 21.93 | 21.91 | |
| DOH | days | 14.60 | 14.05 | 12.24 | 10.83 | 9.94 | 9.97 | 11.79 | 12.68 | 14.23 | 10.10 | 9.73 | 9.08 | 10.19 | 11.16 | 13.56 | 14.89 | 15.99 | 15.91 | 16.64 | 16.66 |
September 30, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 24.99
= 14.60
The days of inventory on hand (DOH) for Myriad Genetics Inc has shown fluctuations over the periods indicated in the table. DOH represents the average number of days it takes for a company to sell its inventory. A lower DOH is generally favorable as it indicates efficient inventory management.
From December 2019 to March 2020, there was a decrease in DOH from 16.64 days to 13.56 days, suggesting improved inventory turnover. However, from March 2020 to December 2020, there was an increase in DOH to 14.89 days, which could indicate potential issues with inventory management during that period.
Subsequently, there was a decreasing trend in DOH from December 2020 to December 2021, reaching a low of 9.08 days in March 2022, which indicates efficient inventory management and potentially strong sales. However, there was a slight increase in DOH to 10.10 days in June 2022, then fluctuated within a range between 10 to 14 days until September 2024.
Overall, Myriad Genetics Inc has exhibited variations in its DOH over the periods analyzed, reflecting changes in inventory management efficiency and sales performance. It is essential for the company to continually monitor and optimize its inventory levels to achieve a balance between maintaining sufficient stock and avoiding excess inventory that could tie up capital.
Peer comparison
Sep 30, 2024