NOV Inc. (NOV)

Days of inventory on hand (DOH)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Inventory turnover		3.48	3.18	3.13	3.03	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
DOH	days	104.81	114.63	116.55	120.57	116.30	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

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.48
= 104.81

The days of inventory on hand (DOH) for NOV Inc. has exhibited some fluctuations over the period from March 31, 2020, to December 31, 2024. The trend indicates an initial increase from around 97 days in March 2020 to a peak of approximately 127 days by September 30, 2023, showcasing an extended period in which the company held its inventory.

However, starting from December 31, 2023, there was a noticeable decline in DOH, with the metric dropping to 116.30 days by the end of that quarter. This downward trajectory continued into the following period, with a further decrease to 120.57 days on March 31, 2024.

Subsequently, there was a significant decrease in DOH to 116.55 days by June 30, 2024, followed by a slight decrease to 114.63 days by September 30, 2024. This decline indicates an improvement in inventory management efficiency, as the company held less inventory compared to the previous periods.

The DOH metric further decreased to 104.81 days by the end of December 31, 2024, signifying a continued effort to streamline inventory levels. Overall, the trend in DOH for NOV Inc. suggests a recent focus on optimizing inventory levels, possibly to enhance liquidity, reduce holding costs, and improve overall operational efficiency.