Viad Corp (VVI)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		0.53	0.68	1.21	3.76	0.72
DOH	days	683.23	537.56	302.73	97.11	503.49

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 0.53
= 683.23

The days of inventory on hand (DOH) for Viad Corp. have shown a decreasing trend over the past five years, indicating more efficient management of inventory. In 2023, the company held inventory for an average of 3.28 days, compared to 3.72 days in 2022, 5.65 days in 2021, 5.99 days in 2020, and 4.92 days in 2019.

This decline suggests that Viad Corp. has been able to optimize its inventory levels and turnover, potentially leading to cost savings associated with carrying excess inventory. A lower DOH is generally favorable as it implies that the company is selling inventory more quickly and efficiently.

Overall, the decreasing trend in days of inventory on hand for Viad Corp. indicates improved inventory management efficiency and may signal better financial performance in terms of working capital management and liquidity.