Tennant Company (TNC)
Days of inventory on hand (DOH)
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 4.01 | 4.07 | 3.25 | 4.06 | 4.65 | |
| DOH | days | 91.06 | 89.69 | 112.33 | 89.80 | 78.57 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.01
= 91.06
The days of inventory on hand (DOH) for Tennant Company have shown fluctuations over the past five years. As of December 31, 2020, the company had an inventory turnover period of 78.57 days, which increased to 89.80 days by December 31, 2021. In the following year, the DOH rose significantly to 112.33 days, indicating a longer period for inventory to be converted into sales.
However, by December 31, 2023, the DOH decreased to 89.69 days, showing an improvement in inventory management efficiency. In the most recent year ending December 31, 2024, the DOH slightly increased to 91.06 days, suggesting a moderate slowdown in inventory turnover.
Overall, Tennant Company's DOH trend reflects variations in inventory management effectiveness, with a notable spike in 2022 followed by some stabilization in subsequent years. Analysis of the reasons behind these fluctuations and comparison with industry benchmarks could provide further insights into the company's inventory management performance.
Peer comparison
Dec 31, 2024