WEC Energy Group Inc (WEC)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 3.24 | 4.50 | 4.15 | 3.41 | 3.73 | |
| DOH | days | 112.57 | 81.17 | 88.02 | 106.92 | 97.95 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.24
= 112.57
The days of inventory on hand (DOH) for WEC Energy Group Inc has shown fluctuating trends over the past five years. In 2023, the DOH increased to 88.67 days from 67.58 days in 2022, indicating a potential increase in the time it takes to sell inventory or potential inventory management concerns. However, when compared to 2021 and 2020, the DOH in 2023 is still higher, suggesting that there may have been changes in the company's inventory turnover efficiency. It is important for the company to monitor and potentially improve inventory management practices to optimize the use of resources and improve overall operational efficiency.
Peer comparison
Dec 31, 2023