Bio-Techne Corp (TECH)

Days of inventory on hand (DOH)

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Inventory turnover		5.45	4.76	5.65	5.89	5.60
DOH	days	66.92	76.72	64.61	61.93	65.23

June 30, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.45
= 66.92

Bio-Techne Corp's days of inventory on hand (DOH) has exhibited some fluctuation over the past five years. The DOH was 66.92 days as of June 30, 2024, representing a decrease from the prior year. This suggests that Bio-Techne Corp was able to sell its inventory at a faster rate in 2024 compared to 2023.

Comparing it with the DOH figures of the previous years, we see that the DOH was higher in 2023 (76.72 days) but lower in 2022 (64.61 days), 2021 (61.93 days), and 2020 (65.23 days). A lower DOH indicates that the company is managing its inventory more efficiently, as it takes fewer days to sell its inventory.

Further analysis would be necessary to understand the reasons behind the changes in DOH. Factors such as changes in demand, production efficiency, inventory management practices, and supply chain disruptions could all contribute to fluctuations in the DOH metric. Overall, a declining trend in DOH can be a positive indicator of operational efficiency and effective inventory management at Bio-Techne Corp.