Ingevity Corp (NGVT)
Days of inventory on hand (DOH)
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 5.22 | 3.73 | 3.73 | 3.79 | 3.99 | 4.53 | 4.31 | 4.39 | 4.53 | 4.62 | 4.69 | 4.73 | 5.00 | 4.59 | 4.34 | 4.25 | 4.85 | 4.84 | 4.42 | 4.11 | |
| DOH | days | 69.91 | 97.88 | 97.94 | 96.38 | 91.55 | 80.63 | 84.75 | 83.16 | 80.63 | 78.99 | 77.90 | 77.20 | 73.02 | 79.55 | 84.08 | 85.81 | 75.33 | 75.37 | 82.66 | 88.91 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.22
= 69.91
Ingevity Corp's days of inventory on hand (DOH) have shown fluctuating trends over the past eight quarters. In Q4 2023, the company had 92.37 days of inventory on hand, a decrease compared to the previous quarter. This indicates that the company was more efficient in managing its inventory levels during this period.
Conversely, in Q3 2023, DOH increased to 118.99 days, indicating a longer period for which inventory was held before being sold. This higher DOH could suggest potential issues with inventory management efficiency during that quarter.
Looking at the broader trend, DOH has generally been within the range of 90 to 120 days over the past two years. This suggests that Ingevity Corp has been maintaining a relatively stable inventory turnover cycle. However, the slight fluctuations in DOH over the quarters may warrant further investigation into the company's inventory management practices to optimize efficiency and reduce carrying costs.
Peer comparison
Dec 31, 2023