Newmont Goldcorp Corp (NEM)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 57.78 | 68.80 | 49.18 | 37.69 | 3.95 | |
| DOH | days | 6.32 | 5.31 | 7.42 | 9.68 | 92.47 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 57.78
= 6.32
The days of inventory on hand (DOH) for Newmont Corp has shown a fluctuating trend over the past five years. In 2023, the DOH increased to 90.61 days from 55.25 days in 2022, indicating a significant increase in the number of days it takes for the company to sell its inventory. This could potentially signify issues such as overstocking, slower inventory turnover, or potential risks of obsolescence.
Comparing 2023 to 2021, there was an increase in DOH from 62.46 days to 90.61 days, suggesting a worsening situation in managing inventory levels efficiently. Similarly, the DOH increased from 70.10 days in 2020 to 90.61 days in 2023, reflecting a continued trend of inventory management challenges.
However, when comparing 2023 to 2019, a slight improvement was observed as the DOH decreased from 71.24 days to 90.61 days. This might indicate some efforts to enhance inventory management processes during this period.
Overall, the increasing trend in the days of inventory on hand for Newmont Corp reflects a potential area of concern in terms of inventory management efficiency, which may require further analysis and attention to optimize operations and working capital management.