Vulcan Materials Company (VMC)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		9.48	9.94	8.02	7.97	8.01
DOH	days	38.52	36.73	45.53	45.80	45.54

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 9.48
= 38.52

The days of inventory on hand (DOH) for Vulcan Materials Co have fluctuated over the past five years. In 2023, the company had 38.52 days of inventory on hand, which was an increase from the previous year's 36.73 days. This suggests that Vulcan Materials Co was holding inventory for a slightly longer period in 2023 compared to 2022.

Looking further back, we see a notable decrease in DOH in 2022 compared to 2021, where the company had 45.53 days of inventory on hand. This decrease indicates that in 2022, Vulcan Materials Co managed its inventory more efficiently and reduced the number of days it held inventory.

Similarly, in 2021, there was a minor decrease in DOH compared to 2020, indicating improved inventory management. However, the DOH figures for 2021 and 2020 were relatively close at 45.53 days and 45.80 days, respectively.

It is worth noting that the DOH has remained relatively consistent over the last three years (2023, 2022, 2021) with minor fluctuations. This consistency suggests that Vulcan Materials Co has maintained a stable inventory holding period during this period.

Overall, analyzing the trend of DOH for Vulcan Materials Co, it appears that the company has made efforts to optimize its inventory management practices, with some fluctuations in the holding period over the years.