Neogen Corporation (NEOG)
Days of inventory on hand (DOH)
| 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 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 5.11 | 5.70 | 6.65 | 6.21 | 5.03 | 4.57 | 3.74 | 3.79 | 3.94 | 3.97 | 3.95 | 3.85 | 3.72 | 3.85 | 3.59 | 3.63 | 3.89 | 3.98 | 3.92 | 3.98 | |
| DOH | days | 71.36 | 64.00 | 54.87 | 58.81 | 72.60 | 79.80 | 97.60 | 96.34 | 92.75 | 91.83 | 92.34 | 94.75 | 98.02 | 94.88 | 101.76 | 100.59 | 93.93 | 91.79 | 93.16 | 91.67 |
February 29, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.11
= 71.36
The days of inventory on hand (DOH) for Neogen Corporation has exhibited some fluctuations over the past several periods. In the most recent period as of Feb 29, 2024, the company had an average of 71.36 days of inventory on hand, which shows an increase from the previous period. The trend has been somewhat volatile, with periods of higher and lower DOH figures observed.
Looking at the overall trend, there appears to be a general pattern of higher DOH values in some periods, indicating that Neogen may be carrying higher inventory levels relative to its sales. This could suggest potential inefficiencies in inventory management, tying up company resources in excess inventory. On the other hand, lower DOH values in certain periods imply that Neogen is able to move its inventory more quickly, potentially indicating effective inventory turnover.
It would be important for Neogen to further analyze the drivers behind these fluctuations in DOH, considering factors such as demand variability, production efficiency, and supply chain management. By addressing any inefficiencies and optimizing inventory levels, the company may be able to enhance its operational performance and financial health.
Peer comparison
Feb 29, 2024