Tootsie Roll Industries Inc (TR)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 11.27 | 10.19 | 13.15 | 9.20 | 10.51 | |
| DOH | days | 32.39 | 35.82 | 27.76 | 39.68 | 34.72 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 11.27
= 32.39
Tootsie Roll Industries, Inc.'s Days of Inventory on Hand (DOH) measures the number of days it takes for the company to sell its average inventory. Looking at the historical trend, we observe fluctuation in the DOH over the past five years.
In 2023, Tootsie Roll Industries had 67.60 days of inventory on hand, slightly lower than the previous year's figure of 67.71 days. This indicates that the company was able to manage its inventory more efficiently in 2023 compared to 2022.
In 2021, the DOH was significantly lower at 54.53 days, suggesting that the company was selling its inventory at a faster pace or managing inventory levels more effectively during that year. On the other hand, in 2020, the DOH was higher at 72.32 days, indicating that the company took longer to sell its inventory that year.
In 2019, the DOH was 65.34 days, showing a relatively stable inventory turnover compared to the following years. Overall, the fluctuation in DOH over the years might indicate changes in the company's inventory management practices, sales trends, or supply chain efficiencies. Investors and analysts should closely monitor the DOH metric to assess Tootsie Roll Industries' inventory management efficiency and operational effectiveness.
Peer comparison
Dec 31, 2023