Patterson-UTI Energy Inc (PTEN)
Days of inventory on hand (DOH)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.36 | 3.17 | 2.65 | 2.14 | 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 | |
| DOH | days | 108.69 | 115.13 | 137.64 | 170.45 | 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 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.36
= 108.69
The days of inventory on hand (DOH) for Patterson-UTI Energy Inc have shown a fluctuating trend over the past few years.
From March 31, 2020, to December 31, 2020, the DOH remained relatively stable, ranging between 22 to 23 days, indicating efficient inventory management during this period.
However, a significant increase in DOH was observed from March 31, 2021, to September 30, 2021, where it spiked to over 100 days and continued to rise into December 31, 2021. This prolonged DOH suggests potential issues in inventory management, possibly due to excess inventory levels or slow-moving inventory.
The trend continued into 2022, with DOH exceeding 100 days in March and reaching over 130 days by June 30, 2022. This demonstrates a continued challenge in managing inventory efficiently.
A substantial increase in DOH was noted in the latter half of 2022, reaching almost 200 days by December 31, 2022. This sharp rise may indicate inventory-related difficulties that need to be addressed promptly to avoid potential inefficiencies and cost implications.
The DOH improved slightly in the following periods but remained elevated compared to previous years. The trend fluctuated between 100 to 200 days, indicating ongoing challenges in inventory management.
Overall, the analysis of Patterson-UTI Energy Inc.'s DOH suggests varying levels of efficiency in managing inventory over the analyzed period, with several instances of prolonged DOH potentially signaling inefficiencies that warrant closer attention and strategic inventory management adjustments.
Peer comparison
Dec 31, 2024