Proto Labs Inc (PRLB)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 32.44 | 31.86 | 31.17 | 31.37 | 34.71 | |
| DOH | days | 11.25 | 11.46 | 11.71 | 11.63 | 10.52 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 32.44
= 11.25
The days of inventory on hand (DOH) for Proto Labs Inc have shown a slight fluctuation over the past five years. On December 31, 2023, the DOH was 17.68 days, slightly lower than the previous year's 18.16 days. This indicates that the company is holding inventory for a shorter period in 2023 compared to 2022.
When compared to 2021 and 2020, the DOH for 2023 falls within a similar range, showing relative stability in inventory management. However, the DOH was slightly higher in 2019 at 16.46 days, indicating that the company held inventory for a shorter period back then.
Overall, Proto Labs Inc has maintained a consistent level of inventory turnover efficiency in recent years, with a tendency towards shorter holding periods in 2023 compared to the previous year. This suggests effective inventory management practices and potentially improved operational performance in terms of managing and utilizing inventory efficiently.
Peer comparison
Dec 31, 2023