Bio-Techne Corp (TECH)

Days of inventory on hand (DOH)

		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	Sep 30, 2019
Inventory turnover		3.75	4.73	4.58	4.22	4.53	4.85	5.45	6.23	6.52	6.76	6.42	5.93	5.63	4.83	4.73	4.52	4.59	4.76	4.92	5.09
DOH	days	97.42	77.20	79.72	86.40	80.55	75.19	66.93	58.55	56.02	54.03	56.88	61.55	64.82	75.53	77.11	80.66	79.46	76.64	74.21	71.70

June 30, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.75
= 97.42

Bio-Techne Corp's days of inventory on hand (DOH) has shown some fluctuations over the past few years. The DOH has generally ranged between 54 to 97 days, indicating the number of days it takes for the company to sell its inventory.

The trend in the DOH shows an increase from the end of 2019 to mid-2020, reaching a peak of 80.66 days by September 2020. However, there was a slight decrease in DOH by the end of 2020 and throughout 2021, before a noticeable increase in mid-2022.

From mid-2022 to mid-2023, there was a consistent decrease in DOH, indicating that the company was managing its inventory more efficiently. However, the most recent data shows a slight increase in DOH, suggesting that the company may be carrying more inventory relative to its sales.

Overall, Bio-Techne Corp should continue to monitor its inventory levels closely to ensure optimal management and strive to strike a balance between meeting customer demand and controlling inventory costs.