Oceaneering International Inc (OII)

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		9.66	9.24	8.94	9.20	9.54	10.13	9.71	10.01	10.45	12.39	12.39	11.90	11.78	12.56	11.87	11.86	11.16	9.21	8.97	9.11
DOH	days	37.80	39.52	40.84	39.69	38.26	36.02	37.59	36.45	34.94	29.45	29.46	30.66	30.98	29.05	30.75	30.77	32.71	39.63	40.69	40.08

December 31, 2023 calculation

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

The Days of Inventory on Hand (DOH) for Oceaneering International, Inc. has shown some fluctuation over the past eight quarters. In Q4 2023, the DOH was 37.80 days, slightly lower than the DOH in Q3 2023 at 39.52 days. This indicates that the company held its inventory for approximately 37.80 days before selling it in Q4 2023.

Comparing the current DOH to previous quarters, we observe a general trend of fluctuation within a relatively narrow range between 36.02 days and 40.84 days over the past two years. This suggests that Oceaneering International has been managing its inventory levels consistently during this period.

It is important for the company to monitor its inventory turnover and management practices to ensure that inventory levels are optimized to meet demand effectively while minimizing carrying costs associated with excess inventory. Understanding and interpreting the DOH trend can help Oceaneering International assess its inventory management efficiency and make appropriate adjustments to improve overall operational performance.