Patterson-UTI Energy Inc (PTEN)
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 | 1.74 | 1.25 | 1.99 | 1.85 | 1.83 | 2.73 | 2.77 | 3.29 | 3.43 | 3.30 | 3.46 | 3.44 | 15.82 | 15.65 | 15.92 | 16.58 | 4.72 | 10.19 | 5.25 | 5.51 | |
| DOH | days | 209.39 | 291.44 | 183.43 | 197.15 | 198.93 | 133.70 | 131.99 | 110.85 | 106.46 | 110.62 | 105.50 | 106.04 | 23.07 | 23.33 | 22.93 | 22.01 | 77.36 | 35.84 | 69.58 | 66.30 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.74
= 209.39
Patterson-UTI Energy Inc's days of inventory on hand (DOH) has fluctuated over the past eight quarters, ranging from a low of 11.82 days in Q4 2022 to a high of 31.58 days in Q3 2023. Generally, lower DOH values indicate efficient management of inventory, as the company is able to sell its inventory quickly. However, a sudden increase in DOH, as seen in Q3 2023, may indicate potential issues such as slow sales or overstocking.
The significant increase in DOH from Q2 2023 to Q3 2023 warrants further investigation to determine the underlying reasons. It could be due to a decrease in sales, an increase in inventory levels, or a combination of both factors.
Overall, monitoring Patterson-UTI Energy Inc's DOH trend is crucial to assess its inventory management efficiency and potential operational challenges.
Peer comparison
Dec 31, 2023