nVent Electric PLC (NVT)
Days of inventory on hand (DOH)
| 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 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 6.42 | 6.36 | 6.13 | 5.48 | 5.18 | 6.62 | 6.96 | 6.37 | 6.15 | 6.32 | 6.42 | 6.44 | 7.45 | 8.15 | 8.22 | 12.41 | 9.92 | 8.73 | 7.54 | 3.27 | |
| DOH | days | 56.85 | 57.36 | 59.50 | 66.59 | 70.49 | 55.12 | 52.41 | 57.31 | 59.35 | 57.73 | 56.85 | 56.66 | 49.02 | 44.78 | 44.38 | 29.42 | 36.79 | 41.79 | 48.42 | 111.73 |
June 30, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 6.42
= 56.85
The days of inventory on hand (DOH) for nVent Electric PLC has exhibited some fluctuations over the past few quarters.
From September 2019 to March 2020, the company experienced a gradual increase in its DOH, reaching a peak of 111.73 days, indicating that it was holding inventory for an extended period. However, there was a significant decrease in DOH in the subsequent quarters, with the lowest being 29.42 days by the end of December 2020.
From December 2020 onwards, the DOH increased again, reaching 70.49 days by June 2023 before slightly declining to 55.12 days by March 2023. There was a slight increase in DOH in the following quarters, with the latest reported DOH standing at 56.85 days by June 2024.
Overall, while there have been fluctuations in nVent Electric PLC's DOH over the periods analyzed, the company appears to have managed its inventory levels more efficiently in recent quarters compared to the peak observed in early 2020. This can be a positive indicator of effective inventory management practices, but continued monitoring of inventory levels and trends is advisable to ensure optimal working capital management.
Peer comparison
Jun 30, 2024