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74.5 (1y: +44%)
Market Cap 1.03 B P/E(ttm)
Enterprise Value 1.91 B P/B 2.00
ASCMA- NAS (USA)
Ascent Capital Group Inc
Not Rated
Top Ranked Predictable Companies
$74.50
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Ascent Capital Group Inc Accounts Receivable: 11.6 ( as of Mar13)

* All numbers are in millions except for per share data ASCMA 10-Y Financials »

Definition

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Explanation

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Accounts receivable can be measured by Days Sales Outstanding:

Days Sales Outstanding = Account Receivable/Revenue x Days in Period.

In Ben Graham’s calculation of liquidation value, accounts receivable are only considered to be worth 75% of book value:

Liquidation value = Cash and cash equivalents + (0.75 * accounts receivable) + (0.5 * inventory) - Total Liabilities

Beaware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company’s sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Related Terms

Days Sales Outstanding, Total Current Assets
* All numbers are in millions except for per share data

Ascent Capital Group Inc Annual Data

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Ascent Capital Group Inc Quarterly Data

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Financial Dictionary

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