Universal Display (OLED)
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 | 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 | 1.18 | 1.31 | 1.24 | 0.91 | |
| DOH | days | 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 | 309.69 | 279.30 | 295.29 | 401.23 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 0.77
= 473.98
To analyze Universal Display Corp.'s days of inventory on hand (DOH) over the past eight quarters, we observe a fluctuating trend. The DOH has varied between 418.74 days in Q1 2022 and 522.89 days in Q4 2022.
In Q1 2022, the company held inventory for an average of 418.74 days before it was sold. The DOH increased steadily in the subsequent quarters, reaching its highest point in Q4 2022 at 522.89 days. However, in Q1 2023, there was a slight decrease in DOH compared to the previous quarter, standing at 498.03 days.
Notably, there was further variability in the following quarters, with Q4 2023 showing a decrease in DOH to 473.98 days. This reduction may indicate an improvement in inventory management efficiency or an adjustment in production levels relative to sales.
Overall, while the DOH has fluctuated over the period analyzed, Universal Display Corp. should continue to monitor its inventory levels closely to ensure optimal utilization of resources and efficient management of working capital.
Peer comparison
Dec 31, 2023