Inventory Days Benchmark — FMCG Food
How many days of inventory does a typical FMCG Food business hold? This page tracks the listed companies in this segment — inventory days (DIO), the spread between the fastest and slowest quartile, and where Australian and American peers diverge, built from company filings, not survey responses.
Explore the full interactive tool, filter by segment, or enter your own numbers →Across 21 listed FMCG Food companies reporting in 2024, the median inventory position was 61.2 days of cost of goods sold sitting in stock. The fastest quarter of the panel held 52.4 days or fewer; the slowest quarter held 82.8 days or more.
By listing venue
Published separately because the two panels aren't measuring the same thing until a venue clears a minimum of four reporting peers — below that, a "median" is an anecdote, not a benchmark.
The named companies
Each row is that company's own latest reported fiscal year — not all companies report on the same calendar, so years vary by row.
| Company | Exchange | Latest FY | Inventory days | Trend | Source |
|---|---|---|---|---|---|
| Clover Corporation CLV | ASX | 2024 (31 Jul 2024) | 267.4 days | ASX filing | |
| Bubs Australia BUB | ASX | 2024 (30 Jun 2025) | 164.8 days | — | ASX filing |
| B&G Foods BGS | US | 2025 (3 Jan 2026) | 119.0 days | 10-K (SEC EDGAR) | |
| McCormick MKC | US | 2025 (30 Nov 2025) | 107.9 days | 10-K (SEC EDGAR) | |
| Conagra Brands CAG | US | 2025 (31 May 2026) | 84.1 days | 10-K (SEC EDGAR) | |
| Australian Agricultural Company AAC | ASX | 2024 (31 Mar 2025) | 74.5 days | ASX filing | |
| Campbell's CPB | US | 2025 (3 Aug 2025) | 71.9 days | 10-K (SEC EDGAR) | |
| Kraft Heinz KHC | US | 2025 (27 Dec 2025) | 71.8 days | 10-K (SEC EDGAR) | |
| J.M. Smucker SJM | US | 2025 (30 Apr 2026) | 70.9 days | 10-K (SEC EDGAR) | |
| Hershey HSY | US | 2025 (31 Dec 2025) | 63.0 days | 10-K (SEC EDGAR) | |
| Simply Good Foods SMPL | US | 2025 (30 Aug 2025) | 61.0 days | 10-K (SEC EDGAR) | |
| Hormel Foods HRL | US | 2025 (26 Oct 2025) | 59.4 days | 10-K (SEC EDGAR) | |
| General Mills GIS | US | 2025 (31 May 2026) | 57.1 days | 10-K (SEC EDGAR) | |
| The a2 Milk Company A2M | ASX | 2024 (30 Jun 2025) | 56.8 days | ASX filing | |
| Synlait Milk SM1 | ASX | 2024 (31 Jul 2024) | 54.7 days | ASX filing | |
| Mondelez MDLZ | US | 2025 (31 Dec 2025) | 54.5 days | 10-K (SEC EDGAR) | |
| Post Holdings POST | US | 2025 (30 Sep 2025) | 51.1 days | 10-K (SEC EDGAR) | |
| Inghams Group ING | ASX | 2023 (30 Jun 2024) | 48.1 days | ASX filing | |
| Bega Cheese BGA | ASX | 2024 (30 Jun 2025) | 47.1 days | ASX filing | |
| Utz Brands UTZ | US | 2025 (28 Dec 2025) | 37.3 days | 10-K (SEC EDGAR) | |
| Ridley Corporation RIC | ASX | 2024 (30 Jun 2025) | 32.2 days | ASX filing | |
| Flowers Foods FLO | US | 2025 (3 Jan 2026) | 25.4 days | 10-K (SEC EDGAR) |
What this means
Packaged food manufacturing turns stock roughly every two months on the US panel, and slightly faster on the ASX one. Dairy, meat and grain processors carry raw-material buffer stock but don't hold finished goods long once packaged and shipped. The Australian names here are mostly dairy and infant-formula businesses (a2 Milk, Bega Cheese, Bubs Australia, Synlait Milk) alongside protein and grain processors (Inghams Group, Ridley Corporation, Australian Agricultural Company) — a narrower mix than the much larger US panel of branded packaged-goods majors (General Mills, Kraft Heinz, Hershey, McCormick).
How this is calculated
Inventory days (DIO) is calculated as 365 × average inventory ÷ COGS, with the balance averaged against the prior year where one exists so a single year-end stock date can't distort the figure. US figures come from each company's own 10-K, pulled from the SEC's XBRL company-facts API. Australian figures come from each company's statutory accounts as rendered by Yahoo Finance, linking through to the company's ASX page — a weaker chain of custody than the US half, one step removed from the primary filing rather than pulled from it directly. Australian coverage runs three benchmark years (2022–2024) against eight for the US, because only a handful of fiscal years of ASX data are obtainable this way.
If your inventory days sit in the top quartile, that gap is cash.
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