Worthington Industries Inc (WOR)
Days of inventory on hand (DOH)
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.84 | 7.00 | 5.96 | 4.48 | 6.46 | |
| DOH | days | 62.54 | 52.18 | 61.20 | 81.40 | 56.53 |
May 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.84
= 62.54
The days of inventory on hand (DOH) for Worthington Industries Inc has shown fluctuations in recent years. As of May 31, 2020, the company had approximately 56.53 days of inventory on hand. This number increased significantly to 81.40 days by May 31, 2021, indicating a slower inventory turnover rate.
However, Worthington Industries managed to improve its inventory management in the following year, with the DOH decreasing to 61.20 days as of May 31, 2022. This indicates a more efficient use of inventory and potentially better inventory control.
By May 31, 2023, the DOH further decreased to 52.18 days, suggesting continued improvements in inventory turnover and management efficiency. The company maintained a relatively stable performance in managing its inventory, with the DOH at 62.54 days as of May 31, 2024.
Overall, Worthington Industries has demonstrated efforts to optimize its inventory management practices, as evidenced by the fluctuations in the days of inventory on hand over the years, ultimately indicating a relatively efficient utilization of inventory resources.
Peer comparison
May 31, 2024