Sonic (SONC) Accounts Receivable : $20.2 Mil (As of Aug. 2018)

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What is Sonic Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Sonic's accounts receivables for the quarter that ended in Aug. 2018 was $20.2 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Sonic's Days Sales Outstanding for the quarter that ended in Aug. 2018 was 16.48.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Sonic's Net-Net Working Capital per share for the quarter that ended in Aug. 2018 was $-21.48.

Sonic Accounts Receivable Historical Data

The historical data trend for Sonic's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sonic Accounts Receivable Chart

Sonic Annual Data

Trend

Aug09

Aug10

Aug11

Aug12

Aug13

Aug14

Aug15

Aug16

Aug17

Aug18

Accounts Receivable

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18.29

18.64

19.99

19.57

20.18

Sonic Quarterly Data
	Nov13	Feb14	May14	Aug14	Nov14	Feb15	May15	Aug15	Nov15	Feb16	May16	Aug16	Nov16	Feb17	May17	Aug17	Nov17	Feb18	May18	Aug18
Accounts Receivable	Get a 7-Day Free Trial															19.57	15.84	24.13	21.05	20.18

Sonic Accounts Receivable Calculation

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

Sonic Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Sonic's Days Sales Outstanding for the quarter that ended in Aug. 2018 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	20.177	/	111.754	*	91
=	16.48

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Sonic's accounts receivable are only considered to be worth 75% of book value:

Sonic's Net-Net Working Capital Per Share for the quarter that ended in Aug. 2018 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(39.835	+	0.75 * 20.177	+	0.5 * 1.774	-	819.98
-	0	-	0)	/	35.575
=	-21.48

Be Aware

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.

Sonic Accounts Receivable Related Terms

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Sonic (SONC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Sonic Corp (NAS:SONC) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.sonicdrivein.com

Sonic Corp operates and franchises drive-in restaurants throughout the United States. The restaurants typically consist of a building that houses only a kitchen to go along with 16 to 24 parking spaces that have their own payment terminals, intercom speakers, and menu boards. Carhops serve customers in their cars. Many locations also have a drive-thru lane and patio seating as alternatives. Sonic franchises roughly 90% of its restaurants, and the royalty revenue the company earns on franchise sales contributes roughly a quarter of total company revenue. Company-operated stores provide the balance of total revenue. Sonic owns the property on which hundreds of its restaurants are located. For those properties that house franchised stores, franchisees lease from the company.

Executives

Steven A Davis	director	3776 SOUTH HIGH ST, COLUMBUS OH 43207
Lauren R Hobart	director	345 COURT STREET, CORAOPOLIS PA 15275
Tony Bartel	director	625 WESTPORT PARKWAY, GRAPEVINE TX 76051
Kathy L Taylor	director	C/O FREDERIC DORWART LAWYERS, 124 EAST FOURTH STREET, TULSA OK 74103
Pedro Claudia San	officer: President	300 JOHNNY BENCH DRIVE, OKLAHOMA CITY OK 73104
Kate S Lavelle	director	24089 3RD STREET, FAIRHOPE AL 36532
Federico F Pena	director	711 HIGH STREET, DES MOINES IA 50392-0300
J Larry Nichols	director	DEVON ENERGY CORP, 20 NORTH BROADWAY STE 1500, OKLAHOMA CITY OK 73102-8260
Southeastern Asset Management Inc/tn/	10 percent owner	6410 POPLAR AVENUE, SUITE 900, MEMPHIS TN 38119
Longleaf Partners Funds Trust	10 percent owner	C/O SOUTHEASTERN ASSET MANAGEMENT, 6410 POPLAR AVE, SUITE 900, MEMPHIS TN 38119
Todd Whitney Smith	officer: President and CMO	300 JOHNNY BENCH DRIVE, OKLAHOMA CITY OK 73104
Craig Jeffrey Miller	officer: Former Officer of Subsidiary	5008 HARTRIDGE WAY, GREENSBORO NC 27407
Robert M Rosenberg	director
Michael J Maples	director	2208 WINDSOR ROAD, AUSTIN TX 78703
Douglas N Benham	director