Neogen Corporation (NEOG)

Days of inventory on hand (DOH)

Feb 28, 2025 Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020
Inventory turnover 2.26 2.35 2.32 2.43 2.50 2.83 3.26 3.11 2.59 2.45 2.22 2.32 2.46 2.53 2.57 2.52 2.43 2.51 2.33 2.33
DOH days 161.61 155.56 157.54 150.07 146.11 129.06 111.97 117.27 140.79 148.92 164.72 157.12 148.46 144.33 141.88 145.05 150.33 145.14 156.42 156.36

February 28, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.26
= 161.61

Neogen Corporation's days of inventory on hand (DOH) has shown fluctuations over the period from May 31, 2020, to February 28, 2025. The DOH ranged from a high of 164.72 days on August 31, 2022, to a low of 111.97 days on August 31, 2023. The trend in DOH appears to be somewhat volatile, with periods of both increases and decreases observed.

On average, Neogen Corporation maintained its inventory for approximately 145.02 days during this period. The company's efficiency in managing its inventory levels can be further analyzed by comparing the DOH figures to industry benchmarks or historical data to determine if the current levels are optimal. A lower DOH indicates that the company is selling its inventory faster, potentially leading to better liquidity and lower holding costs, while a higher DOH may suggest inefficiencies in inventory management or slower sales turnover.