Viad Corp (VVI)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		0.53	0.47	0.37	0.61	0.68	0.71	0.59	0.89	1.21	1.15	1.66	2.18	3.65	1.99	1.18	1.47	0.52	0.49	0.27	0.10
DOH	days	683.23	777.62	980.84	599.35	537.56	515.48	621.72	411.37	302.73	316.25	219.39	167.35	99.89	183.84	308.89	248.92	705.13	745.48	1,357.06	3,776.82

December 31, 2023 calculation

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

The days of inventory on hand (DOH) for Viad Corp. have exhibited fluctuations over the past eight quarters. In Q2 2022, the company had the highest DOH of 6.24 days, indicating that it took the company on average 6.24 days to sell its inventory. This was followed by a decrease in DOH in subsequent quarters, reaching its lowest point in Q4 2023 with 3.28 days.

A lower DOH signifies that the company is efficiently managing its inventory by quickly turning over its stock. Conversely, a higher DOH could suggest potential issues such as overstocking or slow sales.

Overall, Viad Corp. has shown a trend towards reducing its DOH, which could be a positive sign of effective inventory management and potentially improved cash flow efficiency. However, further analysis and comparison with industry benchmarks would provide a more comprehensive understanding of the company's inventory management performance.