Penn National Gaming Inc (PENN)

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		10.64	184.07	65.35	60.54	173.20	17.73	13.97	13.48	13.52	14.92	15.59	13.60	20.65	38.44	33.27	—	17.85	16.93	13.59	11.93
DOH	days	34.29	1.98	5.59	6.03	2.11	20.58	26.14	27.08	26.99	24.47	23.41	26.84	17.68	9.49	10.97	—	20.45	21.55	26.85	30.60

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 10.64
= 34.29

The days of inventory on hand (DOH) for PENN Entertainment Inc fluctuated over the last eight quarters. The DOH was not available for Q4 2023 and Q1 2023. In Q3 2023, the company had 1.08 days of inventory on hand, indicating efficient management of inventory levels. However, in Q2 2023, the DOH increased to 3.15 days, suggesting a potential buildup of inventory. This trend continued in Q1 2023 with DOH at 3.38 days. The lack of information for previous quarters limits the ability to provide a comprehensive trend analysis, but the recent increase in DOH may signify a need for PENN Entertainment Inc to closely monitor and adjust its inventory management practices to optimize efficiency and reduce carrying costs.