Scotts Miracle-Gro Company (SMG)
Days of inventory on hand (DOH)
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 5.65 | 5.74 | 4.24 | 3.02 | 4.13 | 3.96 | 3.70 | 2.79 | 3.20 | 3.15 | 2.55 | 2.52 | 3.79 | 4.55 | 4.19 | 3.65 | 5.82 | 6.67 | 4.05 | 3.32 | |
| DOH | days | 64.57 | 63.59 | 86.08 | 120.73 | 88.45 | 92.13 | 98.59 | 130.84 | 113.97 | 115.83 | 143.08 | 145.06 | 96.24 | 80.22 | 87.16 | 99.98 | 62.67 | 54.70 | 90.22 | 109.87 |
September 30, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.65
= 64.57
The Days of Inventory on Hand (DOH) for Scotts Miracle-Gro Company have fluctuated over the past few years. The company's DOH ranged from a low of 54.70 days as of September 30, 2020, to a high of 145.06 days as of March 31, 2022. The trend indicates that Scotts Miracle-Gro has been managing its inventory levels with some variability.
The DOH metric helps assess how efficiently a company manages its inventory by indicating the number of days it takes for inventory to be sold or used in production. A lower DOH typically suggests that a company is selling its products quickly and efficiently, while a higher DOH may indicate excess inventory levels or potential slow-moving inventory.
Scotts Miracle-Gro's DOH has shown some improvement from the high levels seen in early 2022, with the most recent data as of September 30, 2024, at 64.57 days, which is closer to the lower end of the historical range. This may suggest better inventory management practices or adjustments in response to market conditions.
It is important for Scotts Miracle-Gro to continue monitoring its inventory levels closely to ensure efficient management and avoid excess inventory carrying costs. Analyzing DOH over time can provide valuable insights into the effectiveness of the company's inventory management strategies and help in making informed decisions to optimize operational efficiency.
Peer comparison
Sep 30, 2024