The Marzetti Company (MZTI)
Days of inventory on hand (DOH)
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 8.59 | 7.53 | 8.70 | 7.45 | 8.31 | 8.97 | 9.16 | 8.21 | 9.06 | 9.22 | 9.98 | 8.12 | 9.13 | 7.56 | 7.65 | 7.09 | 8.86 | 9.93 | 9.18 | 8.94 | |
| DOH | days | 42.52 | 48.47 | 41.95 | 49.01 | 43.93 | 40.67 | 39.83 | 44.44 | 40.28 | 39.60 | 36.58 | 44.95 | 39.99 | 48.26 | 47.71 | 51.45 | 41.18 | 36.76 | 39.77 | 40.85 |
June 30, 2025 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 8.59
= 42.52
The days of inventory on hand (DOH) for The Marzetti Company over the period from September 2020 to June 2025 exhibit notable fluctuations, reflecting variations in inventory management and operational efficiency.
Between September 2020 and March 2021, DOH decreased from approximately 40.85 days to 36.76 days, indicating an improvement in inventory turnover and more efficient inventory utilization during this period. However, in the subsequent quarter (June 2021), DOH increased to 41.18 days, suggesting a slight accumulation of inventory or operational adjustments.
A significant rise occurred by September 2021, with DOH reaching 51.45 days—the highest within the observed timeframe—pointing to potential inventory build-up, slower sales, or supply chain considerations. This elevated level persisted into December 2021 and March 2022, with DOH values of 47.71 and 48.26 days, respectively, indicating sustained inventory holding periods.
From June 2022 onward, there was a notable decline to approximately 39.99 days, followed by some fluctuation—44.95 days in September 2022 and a decrease to 36.58 days in December 2022—reflecting efforts to optimize inventory levels. In 2023, DOH stabilized around 39.60 to 40.67 days through March and June, before experiencing an increase again to 44.44 days in September 2023.
The latter quarters reveal a pattern of cyclic variability around the mid-40-day range, with DOH reaching 49.01 days in September 2024 before decreasing to 41.95 days in December 2024 and then rising again to 48.47 days in March 2025. By June 2025, DOH decreased to 42.52 days.
Overall, the data indicates periods of both inventory accumulation and operational improvements. The fluctuations in DOH suggest that The Marzetti Company has experienced episodic changes in inventory management, possibly driven by shifts in sales volume, supply chain circumstances, or strategic inventory positioning. The tendency towards higher DOH in certain periods may warrant further investigation into inventory turnover efficiency and its impact on working capital management.
Peer comparison
Jun 30, 2025