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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 2/10

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Business Description

Industry: Credit Services » Credit Services
Compare:V, MA, TCAP, DFS, COF » details
Asset Acceptance Capital Corp., a Delaware corporation was formed in 1962. It purchases and collects defaulted and charged-off accounts receivable portfolios. Charged-off receivables are the unpaid obligations of individuals to credit originators, such as credit card issuers, consumer finance companies, telecommunications providers and other utility providers. It purchases and collects charged-off consumer receivable portfolios for its own account. These receivables are acquired from consumer credit originators, mainly credit card issuers, consumer finance companies, healthcare providers, retail merchants, telecommunications and other utility providers as well as from resellers and other holders of consumer debt. The company periodically sells receivables from these portfolios to unaffiliated companies. In addition, the company finances the sales of consumer product retailers. It currently has three operating segments, one for purchased receivables, one for finance contract receivables and one for licensed software. The finance contract receivables and licensed software segments are not material and therefore are not disclosed separately from the purchased receivables segment. Purchased receivables are receivables that have been charged-off as uncollectible by the originating organization and typically have been subject to previous collection efforts. The company acquires the rights to the unrecovered balances owed by individual debtors through such purchases. The receivable portfolios are purchased at a considerable discount (generally more than 90%) from their face values and are initially recorded at the company's acquisition cost, which equals fair value at the acquisition date. Financing for the purchases is mainly provided by the company's cash generated from operations and its revolving credit facility. The Company faces competition from other purchasers of charged-off consumer receivables, third party collection agencies, other financial service companies and credit originators that manage their own consumer receivables.

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