AZ Electronic Materials (FRA:OAZ) Accounts Receivable : €86.7 Mil (As of Dec. 2013)

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What is AZ Electronic Materials Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. AZ Electronic Materials's accounts receivables for the quarter that ended in Dec. 2013 was €86.7 Mil.

Accounts receivable can be measured by Days Sales Outstanding. AZ Electronic Materials's Days Sales Outstanding for the quarter that ended in Dec. 2013 was 59.09.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. AZ Electronic Materials's Net-Net Working Capital per share for the quarter that ended in Dec. 2013 was €-0.86.

AZ Electronic Materials Accounts Receivable Historical Data

The historical data trend for AZ Electronic Materials'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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AZ Electronic Materials Accounts Receivable Chart

AZ Electronic Materials Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Accounts Receivable

127.22

103.65

102.68

107.75

86.65

AZ Electronic Materials Semi-Annual Data
	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13
Accounts Receivable	Get a 7-Day Free Trial			102.68	123.69	107.75	110.14	86.65

AZ Electronic Materials Accounts Receivable Calculation

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

AZ Electronic Materials 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.

AZ Electronic Materials's Days Sales Outstanding for the quarter that ended in Dec. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	86.651	/	267.618	*	91
=	59.09

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

AZ Electronic Materials's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2013 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)
=	(80.008	+	0.75 * 86.651	+	0.5 * 54.385	-	500.926
-	0	-	0)	/	380.252
=	-0.86

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.

AZ Electronic Materials Accounts Receivable Related Terms

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AZ Electronic Materials (FRA:OAZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » AZ Electronic Materials SA (FRA:OAZ) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.azem.com

AZ Electronic Materials SA is a Luxembourg- based company engaged in producing and supplying specialty chemicals. It focuses on three business areas Integrated Circuits which involves dielectrics, underlayers, yield enhancers, CMP slurries and pattern enhancers, Display Materials and AZ products such as specialty chemicals and materials used in integrated circuits and devise as well as flat panel displays and photolithographic printing.

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