Onto Innovation Inc (ONTO)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 1.21 | 1.44 | 1.48 | 1.45 | 0.97 | |
| DOH | days | 302.41 | 254.02 | 246.61 | 251.02 | 376.25 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.21
= 302.41
The days of inventory on hand (DOH) for Onto Innovation Inc have shown a fluctuating trend over the past five years. In 2023, the DOH increased significantly to 302.41 days compared to the previous year. This rise indicates that the company is holding its inventory for a longer period before selling it, which may lead to potential inefficiencies and increased carrying costs.
In 2022, Onto Innovation Inc had a DOH of 254.02 days, showing a slight increase from 2021. This suggests that the company might be struggling to manage its inventory effectively, as it takes longer to sell its products.
On the other hand, in 2021, the DOH was recorded at 246.61 days, a slight improvement from the previous year. This indicates that the company managed to reduce the time it holds inventory before selling it.
In 2020, the DOH was 251.02 days, which indicates that the company's inventory turnover improved slightly compared to 2019 when the DOH was significantly higher at 376.25 days.
Overall, Onto Innovation Inc's DOH has been variable, with some improvements in inventory management efficiency in certain years, but still showing potential challenges in effectively managing inventory turnover. Further analysis of the company's inventory management practices and strategies may be necessary to address these fluctuations and optimize operational efficiency.
Peer comparison
Dec 31, 2023