Novanta Inc (NOVT)
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 | 4.61 | 4.49 | 4.28 | 4.17 | 4.06 | 4.17 | 4.21 | 4.40 | 4.66 | 4.49 | 5.39 | 5.49 | 5.26 | 4.96 | 4.80 | 4.68 | 4.51 | 4.37 | 4.57 | 4.80 | |
| DOH | days | 79.19 | 81.25 | 85.27 | 87.61 | 89.80 | 87.43 | 86.63 | 82.90 | 78.25 | 81.21 | 67.69 | 66.47 | 69.42 | 73.62 | 76.07 | 78.05 | 80.99 | 83.61 | 79.85 | 75.98 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.61
= 79.19
Novanta Inc's Days of Inventory on Hand (DOH) has shown a decreasing trend over the past eight quarters. In Q4 2023, the company had 113.17 days of inventory on hand, which decreased from 114.44 days in Q3 2023. This downward trend continued from previous quarters, indicating that the company is managing its inventory more efficiently. A lower DOH value suggests that Novanta Inc is selling its products faster or more efficiently, which can lead to lower carrying costs and potentially higher profitability. It is important to note that while a decreasing DOH can be positive, a very low value may also indicate stockouts or inefficient inventory management. Overall, Novanta Inc's decreasing trend in DOH over the past quarters reflects positively on its inventory management practices.
Peer comparison
Dec 31, 2023