PNM Resources Inc (PNM)
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 | 13.09 | 16.92 | 19.04 | 24.52 | 22.61 | 21.38 | 16.48 | 14.77 | 13.50 | 10.81 | 8.47 | 8.40 | 7.63 | 7.20 | 6.90 | 6.32 | 6.04 | 5.94 | 6.14 | 6.64 | |
DOH | days | 27.88 | 21.58 | 19.17 | 14.88 | 16.14 | 17.08 | 22.15 | 24.71 | 27.04 | 33.77 | 43.09 | 43.46 | 47.85 | 50.73 | 52.92 | 57.76 | 60.45 | 61.40 | 59.43 | 54.94 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 13.09
= 27.88
The days of inventory on hand (DOH) for PNM Resources Inc have shown fluctuation over the past eight quarters. In Q4 2023, the DOH increased to 40.03 days compared to 29.86 days in Q3 2023. This significant increase indicates that PNM Resources Inc held inventory for a longer period during Q4 2023, which may lead to higher carrying costs and potential risks of obsolescence.
Looking back further, in Q2 2023, the DOH was 25.55 days, showing a downward trend from the previous quarter. This suggests that the company managed its inventory more efficiently during that period. However, the DOH increased in Q1 2023 to 19.60 days, indicating a reversal in the trend.
Comparing the latest quarter (Q4 2023) to the same period a year ago (Q4 2022), we observe a higher DOH of 40.03 days compared to 21.45 days. This represents a significant increase in the number of days the company's inventory is held, which may raise concerns about inventory management efficiency.
Overall, the trend in PNM Resources Inc's DOH indicates fluctuations in inventory management effectiveness over the past eight quarters. Further analysis and monitoring of inventory levels and turnover are recommended to ensure optimal operational efficiency and cost control.
Peer comparison
Dec 31, 2023