Titan International Inc (TWI)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		4.56	4.92	4.29	4.41	4.41
DOH	days	80.12	74.12	85.02	82.73	82.80

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 4.56
= 80.12

The days of inventory on hand (DOH) for Titan International, Inc. have fluctuated over the past five years. In 2023, the company had 87.92 days of inventory on hand, which was higher compared to the previous year (80.16 days) but lower than the DOH in 2021 (92.89 days) and 2020 (94.84 days). The lowest DOH was recorded in 2019 at 92.20 days.

The increase in DOH from 2022 to 2023 may indicate that Titan International, Inc. is carrying more inventory relative to its sales. This could potentially tie up more capital in inventory and increase holding costs. On the other hand, the DOH in 2023 is still lower than the levels seen in 2020 and 2021, suggesting some improvement in inventory management efficiency compared to those years.

Overall, further analysis of the company's inventory turnover ratio and comparison with industry benchmarks would provide more insights into the effectiveness of Titan International's inventory management strategy.