NeoGenomics Inc (NEO)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 29.35 | 27.67 | 25.83 | 16.13 | 28.30 | |
| DOH | days | 12.44 | 13.19 | 14.13 | 22.64 | 12.90 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 29.35
= 12.44
Neogenomics Inc.'s days of inventory on hand (DOH) have exhibited some fluctuation over the past five years. The company managed its inventory efficiently in 2019 with DOH at 24.80 days. However, in 2020, there was a significant increase to 41.68 days, indicating a potential inefficiency in managing and selling inventory.
In the subsequent years, there was a gradual improvement in inventory management as demonstrated by decreasing DOH figures. By 2023, Neogenomics had effectively reduced its DOH to 25.41 days, signaling a more efficient utilization of inventory.
Overall, Neogenomics Inc. has shown a trend towards optimizing its inventory levels and turnover, which is a positive indication of effective inventory management practices within the company.