Penn National Gaming Inc (PENN)

Days of inventory on hand (DOH)

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Inventory turnover		—	19.66	34.23	23.79	18.05
DOH	days	—	18.56	10.66	15.34	20.22

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ —
= —

The days of inventory on hand (DOH) for Penn National Gaming Inc has shown a decreasing trend over the years, indicating a more efficient management of inventory. In December 2020, the DOH was 20.22 days, which decreased to 15.34 days by December 2021, and further declined to 10.66 days by December 2022. This reduction suggests that the company is able to sell its inventory faster, leading to lower holding costs and potentially improving cash flow.

However, by December 2023, the DOH increased to 18.56 days, which may indicate a slight slowdown in inventory turnover compared to the previous year. It would be worth investigating the reasons behind this change to ensure that it does not signal any underlying issues in the company's operations or demand for its products.

The data for December 31, 2024 is not available, indicated by "— days," making it impossible to draw conclusions for that year. In summary, the decreasing trend in DOH from 2020 to 2022 reflects improved inventory management efficiency for Penn National Gaming Inc, but the increase in 2023 warrants further analysis to understand any potential implications.