Tennant Company (TNC)
Days of inventory on hand (DOH)
| 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 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 4.01 | 3.59 | 3.77 | 3.91 | 4.07 | 3.85 | 3.53 | 3.40 | 3.25 | 3.36 | 3.56 | 3.59 | 4.06 | 4.03 | 4.27 | 4.30 | 4.62 | 4.53 | 4.10 | 4.32 | |
| DOH | days | 91.06 | 101.68 | 96.83 | 93.39 | 89.69 | 94.77 | 103.38 | 107.33 | 112.33 | 108.53 | 102.45 | 101.67 | 89.80 | 90.54 | 85.52 | 84.82 | 79.04 | 80.58 | 89.07 | 84.57 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.01
= 91.06
Tennant Company's days of inventory on hand (DOH) have shown some fluctuations over the periods provided. The trend indicates an increase in DOH from the first quarter of 2022 to the third quarter of 2022, with a peak at 112.33 days on December 31, 2022. Subsequently, there was a slight decrease in the first quarter of 2023, followed by a more pronounced decline by the third quarter of 2023, reaching 94.77 days. This decreasing trend continued into the fourth quarter of 2023 and the first quarter of 2024, hitting a low of 89.69 days on December 31, 2023.
However, there was a subsequent increase in DOH in the first quarter of 2024, followed by further increases in the second and third quarters of 2024, reaching 101.68 days on September 30, 2024. The DOH decreased in the fourth quarter of 2024 to 91.06 days.
Overall, Tennant Company's DOH has exhibited variability over the given periods, which may indicate changes in inventory management efficiency and inventory turnover. Further analysis of the underlying reasons for these fluctuations would be necessary to assess the effectiveness of the company's inventory management strategies.
Peer comparison
Dec 31, 2024