Bio-Techne Corp (TECH)

Days of inventory on hand (DOH)

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 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
Inventory turnover 2.27 2.16 2.17 2.17 2.15 2.13 2.08 1.98 2.14 2.11 2.22 2.35 2.47 2.68 2.71 2.71 2.55 2.52 2.50 2.43
DOH days 161.05 169.11 168.11 168.07 169.44 171.26 175.38 184.28 170.75 172.71 164.71 155.35 147.55 135.99 134.51 134.53 142.91 144.61 145.74 150.47

June 30, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.27
= 161.05

The analysis of Bio-Techne Corp's days of inventory on hand (DOH) from September 2020 through June 2025 reveals a general upward trend over the period.

Starting at approximately 150.47 days as of September 30, 2020, the DOH decreased slightly to around 145.74 days by the end of 2020 and remained relatively stable through March 2021 at approximately 144.61 days. This suggests a period of inventory management stability in early 2021.

In the subsequent quarters of 2021, there was a gradual decline in DOH, reaching a low of approximately 134.53 days by September 30, 2021, and persisting at similar levels through December 2021. However, starting in the first quarter of 2022, the trend reversed, with the DOH increasing steadily—reaching about 147.55 days by June 2022 and continuing its upward trajectory through subsequent quarters.

By September 30, 2022, the DOH had increased to approximately 155.35 days, and this steady rise continued, peaking at about 164.71 days at the close of 2022, and further increasing to approximately 172.71 days by March 2023. The upward movement persisted into mid-2023, with the DOH reaching around 170.75 days at June 30, 2023, and further rising to approximately 184.28 days by September 30, 2023.

During the final part of the observation period, the DOH exhibited some reduction, decreasing to about 175.38 days at the end of 2023 and slightly lower at approximately 171.26 days in March 2024. The trend stabilized somewhat, with values remaining in the vicinity of 169 to 171 days through mid-2024 and into the third quarter of 2024.

As of the most recent data points, the DOH declined slightly further, with a value of roughly 161.05 days projected for June 2025.

Overall, the data indicates a notable increase in inventory holding periods over the observed period, particularly from late 2021 onward. This escalation in DOH may reflect strategic inventory buildup, changes in supply chain or production efficiency, shifts in demand, or inventory management practices. The recent decrease in 2024 suggests a possible effort to optimize inventory levels, although the overall trend remains elevated compared to the initial years.