Phibro Animal Health Corporation (PAHC)

Days of inventory on hand (DOH)

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Inventory turnover		3.70	3.30	3.37	2.60	2.76
DOH	days	98.53	110.64	108.45	140.49	132.08

June 30, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.70
= 98.53

The days of inventory on hand (DOH) for Phibro Animal Health Corporation have exhibited fluctuations over the past five years. The company's DOH was 98.53 days as of June 30, 2024, compared to 110.64 days in the previous year and 108.45 days in the year before that. This indicates an improvement in managing inventory levels more efficiently in the most recent period.

However, when looking further back, the DOH was higher at 140.49 days as of June 30, 2021, and 132.08 days as of June 30, 2020. This suggests that the company has made progress in reducing the number of days it takes to sell its inventory over the past few years.

Analyzing the trend, it appears that Phibro Animal Health Corporation has been successful in optimizing its inventory management processes, leading to a decreasing trend in DOH over the period under review. The company may have implemented more effective inventory control measures to minimize excess inventory and improve working capital efficiency.