United States Steel Corporation (X)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		7.76	7.40	6.96	7.30	7.09
DOH	days	47.04	49.34	52.43	49.97	51.49

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 7.76
= 47.04

The days of inventory on hand (DOH) for United States Steel Corp. have shown a fluctuating trend over the past five years. In 2023, the company had a DOH of 49.15 days, a slight improvement from the previous year's DOH of 51.32 days. This indicates that the company managed its inventory more efficiently in 2023 compared to 2022.

Looking back further, the DOH was 55.50 days in 2021, which decreased from 53.54 days in 2020 and 53.93 days in 2019. This suggests that United States Steel Corp. has made progress in managing its inventory levels over the years, as it took fewer days to sell its inventory in 2023 compared to previous years.

Overall, a decreasing trend in DOH is generally favorable, as it indicates that the company is able to sell its inventory more quickly, which can lead to lower carrying costs and better cash flow management. However, it is important to consider industry standards and the company's specific operations when evaluating inventory management efficiency.