Ormat Technologies Inc (ORA)

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		17.18	16.76	19.01	14.98	29.80	21.36	19.33	18.58	20.55	18.35	17.00	12.43	12.15	12.87	11.63	13.55	13.64	11.66	11.86	10.77
DOH	days	21.24	21.78	19.20	24.36	12.25	17.09	18.88	19.65	17.76	19.89	21.47	29.36	30.05	28.35	31.39	26.94	26.76	31.31	30.78	33.88

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 17.18
= 21.24

Ormat Technologies Inc's Days of Inventory on Hand (DOH) has shown some fluctuation over the past eight quarters. In Q4 2023, the company's DOH stood at 29.07 days, indicating that, on average, Ormat held inventory for nearly a month before selling it. This figure decreased from the previous quarter's 31.01 days, suggesting an improvement in inventory turnover efficiency.

Compared to the same period in the prior year, Q4 2022, the current DOH of 29.07 days is higher, representing a possible increase in the time it takes for Ormat to turn its inventory into sales. However, it is worth noting that Q4 2022 had a significantly lower DOH of 17.91 days, which may have been unusually low and could explain the apparent increase in Q4 2023.

Overall, the recent DOH figures for Ormat Technologies Inc indicate that the company is managing its inventory turnover reasonably well, with some quarter-to-quarter variability. Further analysis and comparison with industry benchmarks would provide additional insight into the company's inventory management efficiency.