Phibro Animal Health Corporation (PAHC)

Days of inventory on hand (DOH)

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Inventory turnover		2.02	2.65	2.45	2.53	2.60
DOH	days	180.99	137.75	149.07	144.00	140.49

June 30, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.02
= 180.99

The analysis of Phibro Animal Health Corporation’s days of inventory on hand (DOH) over the specified periods reveals notable fluctuations and trends across the five-year span. As of June 30, 2021, the company maintained a DOH of approximately 140.49 days. This figure increased modestly to 144.00 days by June 30, 2022, indicating a slight elongation in the inventory holding period. The upward trend continued into 2023, with the DOH reaching approximately 149.07 days, suggesting a gradual accumulation or slower turnover of inventory during this period.

However, a significant decrease is observed in 2024, where the DOH declines to roughly 137.75 days. This reduction may reflect improved inventory management, more rapid inventory turnover, or sales acceleration. Contrarily, the subsequent year, 2025, exhibits a substantial increase in DOH, soaring to approximately 180.99 days. This sharp increase indicates a notable extension in the duration inventory remains on hand, potentially signaling challenges in inventory management, demand slowdowns, overstocking, or supply chain disruptions.

Overall, the trend demonstrates that Phibro Animal Health Corporation experienced a relatively steady and moderate increment in inventory holding periods from 2021 through 2023, followed by a sharp and significant increase in 2025. The variation in DOH highlights periods of operational adjustment and points to possible underlying shifts in sales patterns, inventory strategies, or external market factors affecting inventory turnover efficiency.