Pitney Bowes Inc (PBI)

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		15.66	13.88	12.41	10.86	12.22	16.11	22.16	25.20	32.47	36.94	38.11	39.72	33.64	32.78	27.90	27.25	28.16	24.93	25.29	26.33
DOH	days	23.30	26.29	29.40	33.60	29.87	22.66	16.47	14.48	11.24	9.88	9.58	9.19	10.85	11.13	13.08	13.39	12.96	14.64	14.43	13.86

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 15.66
= 23.30

To analyze Pitney Bowes, Inc.'s days of inventory on hand (DOH) over the past eight quarters, we observe a fluctuating trend in the metric. In Q4 2023, the DOH stood at 11.72 days, indicating a decrease from the previous quarter. This suggests that the company managed its inventory more efficiently in the most recent quarter.

Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), we note a slight improvement in inventory management based on a lower DOH figure. However, it is important to note that DOH can be influenced by seasonal factors and changes in business operations.

Looking at the broader trend, over the past two years, there have been fluctuations in the DOH metric, with some quarters showing a decrease while others showing an increase. This implies that Pitney Bowes, Inc. may have implemented various inventory management strategies during this period.

In conclusion, the analysis of Pitney Bowes, Inc.'s days of inventory on hand suggests a varying performance in inventory management efficiency over the past eight quarters, with some quarters demonstrating improvements while others showing a deterioration in this aspect of the company's operations.