Oceaneering International Inc (OII)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		9.66	9.54	10.45	11.78	11.16
DOH	days	37.80	38.26	34.94	30.98	32.71

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 9.66
= 37.80

The days of inventory on hand (DOH) for Oceaneering International, Inc. have shown fluctuations over the past five years. The trend indicates an increase from 32.71 days in 2019 to 37.80 days in 2023, with a peak of 38.26 days in 2022. This suggests that the company has been carrying its inventory for a longer period before it is sold or used in operations.

A higher DOH value may indicate potential issues such as excess inventory levels, slow-moving inventory, or inefficiencies in inventory management. Conversely, a lower DOH value may imply a more efficient inventory turnover and tighter inventory control.

Further analysis is recommended to understand the reasons behind the changes in DOH and to assess the effectiveness of Oceaneering International's inventory management practices in optimizing working capital and operational efficiency.