Veeco Instruments Inc (VECO)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 2.03 | 2.33 | 2.56 | 2.42 | 2.77 | |
| DOH | days | 179.72 | 156.70 | 142.44 | 150.94 | 131.83 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.03
= 179.72
Veeco Instruments Inc's Days of Inventory on Hand (DOH) has exhibited some fluctuations over the past five years. The trend shows an increasing pattern from 2019 to 2020, followed by a decrease in 2021, a slight increase in 2022, and a further increase in 2023.
The most recent DOH of 227.43 days as of December 31, 2023, is the highest among the data points provided, indicating that the company is holding inventory for a longer period compared to the previous years. This might suggest issues related to inventory management efficiency or potentially slower inventory turnover.
It is important for Veeco Instruments Inc to monitor its inventory levels closely and work on improving its inventory management processes to reduce the number of days inventory is held on hand. High DOH can tie up capital and increase holding costs, potentially impacting the company's profitability and liquidity.
Peer comparison
Dec 31, 2023