Repligen Corporation (RGEN)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		3.16	2.57	2.72	3.19	4.30
DOH	days	115.36	141.96	134.25	114.35	84.95

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.16
= 115.36

Based on the data provided, Repligen Corp.'s Days of Inventory on Hand (DOH) has shown some fluctuations over the past five years. The DOH measures the average number of days it takes for a company to sell its inventory. A higher DOH value indicates that the company is holding onto inventory for a longer period before selling it, which could tie up working capital and increase carrying costs.

In 2023, the DOH stands at 208.65 days, showing a decrease from the previous year. This suggests that Repligen Corp. has improved its inventory management efficiency compared to 2022 when the DOH was 251.49 days. However, the current DOH value is still relatively high, indicating that the company may have excess inventory on hand.

Comparing the DOH values over the past five years, there is a general upward trend from 2019 to 2022, indicating that Repligen Corp. may have been experiencing challenges in managing its inventory levels during this period. The significant increase in DOH from 2019 to 2020, followed by relatively stable but elevated levels in 2021 and 2022, could have implications for the company's cash flow and profitability.

Overall, it is essential for Repligen Corp. to closely monitor and manage its inventory levels to ensure efficient operations and reduce the risk of excess inventory tying up capital. A lower DOH value would indicate improved inventory turnover and better liquidity for the company.