NOV Inc. (NOV)

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		3.14	2.87	2.88	3.01	3.26	3.18	3.28	3.47	3.57	3.64	3.72	3.75	4.02	3.53	3.58	3.74	3.47	3.04	2.63	2.29
DOH	days	116.31	127.20	126.64	121.43	112.10	114.63	111.18	105.31	102.28	100.17	98.14	97.31	90.86	103.26	102.07	97.47	105.04	119.98	139.02	159.06

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.14
= 116.31

The days of inventory on hand (DOH) for NOV Inc over the past eight quarters have shown some fluctuation. In Q4 2023, the DOH was 116.31 days, followed by 127.20 days in Q3 2023, indicating a slight decrease. However, in Q2 and Q1 2023, the DOH remained relatively stable at 126.64 days and 121.43 days, respectively.

Comparing to the previous year, the DOH in Q4 2022 was 112.10 days, showing an increase compared to Q4 2023. Additionally, in Q3 and Q2 2022, the DOH was slightly higher at 114.63 days and 111.18 days, respectively. However, in Q1 2022, the DOH was the lowest at 105.31 days.

Overall, the trend in DOH for NOV Inc seems to have slightly increased in the latter part of the year 2023 compared to the same period in 2022. It is essential for the company to closely monitor and manage its inventory levels to optimize efficiency and reduce carrying costs.