Universal Display (OLED)
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 | 0.90 | 0.92 | 0.91 | 0.84 | 0.77 | 0.71 | 0.75 | 0.73 | 0.70 | 0.72 | 0.75 | 0.87 | 0.86 | 0.90 | 0.97 | 0.85 | 0.93 | 0.91 | 0.84 | 1.11 | |
| DOH | days | 407.06 | 394.73 | 400.95 | 433.53 | 473.98 | 511.48 | 484.05 | 498.03 | 522.89 | 505.77 | 487.06 | 418.74 | 425.85 | 404.04 | 375.81 | 428.87 | 391.10 | 400.30 | 437.04 | 329.62 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 0.90
= 407.06
Universal Display's days of inventory on hand (DOH) have shown fluctuations over the periods analyzed. The DOH ranged from a low of 329.62 days on March 31, 2020, to a peak of 522.89 days on December 31, 2022. Generally, a higher number of DOH indicates that the company is holding more inventory relative to its sales, which can tie up capital and increase storage costs.
The trend in DOH for Universal Display indicates some variability, with peaks and troughs observed throughout the periods. The company seems to have effectively managed its inventory levels at times, as evidenced by lower DOH figures such as 400.30 days on September 30, 2020, and 394.73 days on September 30, 2024.
However, the DOH has been on an upward trajectory towards the latter periods, reaching 484.05 days on June 30, 2023, and 511.48 days on September 30, 2023, before decreasing to 407.06 days on December 31, 2024. This suggests that Universal Display might have faced challenges in efficiently managing its inventory during these periods.
Overall, the company's DOH trend indicates varying levels of inventory management effectiveness, with fluctuations that may require closer monitoring and potential adjustments to optimize inventory levels in line with sales demand.
Peer comparison
Dec 31, 2024