SPX Corp (SPXC)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.48 | 5.43 | 5.90 | 9.15 | 9.14 | |
| DOH | days | 66.59 | 67.27 | 61.83 | 39.90 | 39.92 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.48
= 66.59
The days of inventory on hand (DOH) for SPX Corp have exhibited fluctuations over the past five years. In 2023, the DOH stands at 66.59 days, a slight decrease from the previous year's 67.27 days. This suggests that the company took slightly less time to sell its inventory in 2023 compared to 2022. However, when compared to 2021 and prior years, the current DOH is notably higher.
In 2021, the DOH was 61.83 days, showing an increase from 2020's 39.90 days. This significant rise indicates that the company held inventory for a longer period in 2021 before it was sold. The DOH remained relatively stable in 2020 and 2019, at around 39-40 days, indicating efficient inventory management during those years.
Overall, the increasing trend in DOH from 2020 to 2021 and the subsequent fluctuations in 2022 and 2023 suggest some variability in the company's inventory management efficiency. Further analysis of the underlying reasons for these fluctuations and comparison with industry benchmarks may provide insights into SPX Corp's inventory management practices.
Peer comparison
Dec 31, 2023