Onto Innovation Inc (ONTO)
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 | 1.64 | 1.46 | 1.36 | 1.25 | 1.21 | 1.16 | 1.18 | 1.33 | 1.44 | 1.47 | 1.52 | 1.49 | 1.48 | 1.52 | 1.47 | 1.39 | 1.45 | 1.51 | 1.47 | 1.37 | |
| DOH | days | 221.92 | 249.31 | 267.73 | 291.94 | 302.41 | 315.17 | 309.03 | 274.55 | 254.02 | 248.74 | 239.54 | 245.31 | 246.61 | 240.25 | 248.41 | 262.30 | 251.02 | 241.80 | 247.85 | 267.22 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.64
= 221.92
The Days of Inventory on Hand (DOH) ratio for Onto Innovation Inc has shown some fluctuation over the past few years. The trend indicates a gradual decrease in the DOH from March 31, 2020, to June 30, 2021, reaching its lowest point of 239.54 days. This suggests that the company was able to manage its inventory more efficiently during this period.
However, starting from September 30, 2021, the DOH ratio began to increase, reaching a peak of 315.17 days on September 30, 2023. This significant increase in the DOH could signal potential issues with inventory management, such as overstocking or slow-moving inventory.
Subsequently, there was a slight decline in the DOH ratio by December 31, 2024, to 221.92 days. This could indicate efforts by the company to address the high inventory levels. Overall, Onto Innovation Inc may need to review its inventory management practices to find a balance between carrying enough inventory to meet demand while avoiding excess holding costs and potential obsolescence.
Peer comparison
Dec 31, 2024