Fiat Industrial SpA (MIL:FI) Accounts Receivable : €1,504 Mil (As of Jun. 2013)

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What is Fiat Industrial SpA Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Fiat Industrial SpA's accounts receivables for the quarter that ended in Jun. 2013 was €1,504 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Fiat Industrial SpA's Days Sales Outstanding for the quarter that ended in Jun. 2013 was 20.11.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Fiat Industrial SpA's Net-Net Working Capital per share for the quarter that ended in Jun. 2013 was €-22.07.

Fiat Industrial SpA Accounts Receivable Historical Data

The historical data trend for Fiat Industrial SpA'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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Fiat Industrial SpA Accounts Receivable Chart

Fiat Industrial SpA Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Accounts Receivable

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1,436.00

Fiat Industrial SpA Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13
Accounts Receivable	Get a 7-Day Free Trial										-	1,546.00	1,436.00	1,492.00	1,504.00

Fiat Industrial SpA Accounts Receivable Calculation

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

Fiat Industrial SpA 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.

Fiat Industrial SpA's Days Sales Outstanding for the quarter that ended in Jun. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	1504	/	6825	*	91
=	20.11

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

Fiat Industrial SpA's Net-Net Working Capital Per Share for the quarter that ended in Jun. 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)
=	(3869	+	0.75 * 1504	+	0.5 * 5821	-	34030
-	0	-	860)	/	1222.560
=	-22.07

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.

Fiat Industrial SpA Accounts Receivable Related Terms

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Fiat Industrial SpA (MIL:FI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » Fiat Industrial SpA (MIL:FI) » Definitions » Accounts Receivable

Traded in Other Exchanges

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Address

Website

http://www.fiatindustrial.com

Fiat Industrial SpA operates in the capital goods sector. Each of the Group's businesses is a major international player in its respective industry sector: Iveco, CNH-Case New Holland and FPT Industrial. These three sectors design, produce and sell trucks, commercial vehicles, buses, special vehicles (Iveco), tractors, and agricultural and construction equipment (CNH), in addition to engines and transmissions for those vehicles and engines for marine applications (FPT Industrial). Agricultural equipment is sold under the New Holland Agriculture and Case IH and, in the premium segment in Europe, Steyr brands. Construction equipment is sold under the New Holland Construction and Case Construction brands, as well as the Kobelco brand in North America. Iveco designs, manufactures and sells a wide range of light (2.8-6 tons GVW), medium (6-16 tons GVW) and heavy (above 16 tons GVW) commercial vehicles for on-road and off-road use. In addition to its main product offer, the Company also offers after-sales and financing services, in addition to services related to used-vehicles. FPT Industrial is specialized in the design, production and sale of propulsion and transmission systems for on- and off-road trucks and commercial vehicles, as well as engines for marine application and power generation.