Mirvac Group (ASX:MGR) Receivables Turnover : 9.23 (As of Dec. 2023)

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What is Mirvac Group Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Mirvac Group's Revenue for the six months ended in Dec. 2023 was A$1,251 Mil. Mirvac Group's average Accounts Receivable for the six months ended in Dec. 2023 was A$136 Mil. Hence, Mirvac Group's Receivables Turnover for the six months ended in Dec. 2023 was 9.23.

Mirvac Group Receivables Turnover Historical Data

The historical data trend for Mirvac Group's Receivables Turnover 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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Mirvac Group Receivables Turnover Chart

Mirvac Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Receivables Turnover

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20.40

25.21

18.05

32.58

43.98

Mirvac Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															7.67	6.95	6.34	8.37	9.23

Competitive Comparison of Mirvac Group's Receivables Turnover

For the REIT - Diversified subindustry, Mirvac Group's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mirvac Group's Receivables Turnover Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mirvac Group's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Mirvac Group's Receivables Turnover falls into.

Mirvac Group Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Mirvac Group's Receivables Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Receivables Turnover (A: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jun. 2023 )	/ (	(Accounts Receivable (A: Jun. 2022 )	+	Accounts Receivable (A: Jun. 2023 ))	/	count )
=	1803	/ (	(40	+	42)	/	2 )
=	1803	/	41
=	43.98

Mirvac Group's Receivables Turnover for the quarter that ended in Dec. 2023 is calculated as

	Receivables Turnover (Q: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2023 )	/ (	(Accounts Receivable (Q: Jun. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	1251	/ (	(42	+	229)	/	2 )
=	1251	/	135.5
=	9.23

Mirvac Group (ASX:MGR) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Mirvac Group Receivables Turnover Related Terms

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Mirvac Group (ASX:MGR) Business Description

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MRVGF:USA MJB:Germany

Address

200 George Street, Level 28, Sydney, NSW, AUS, 2000

Website

https://www.mirvac.com

Mirvac is one of Australia's largest residential developers, particularly apartments. Residential development earnings are volatile, generating about a fifth of EBIT in fiscal 2023, despite accounting for only about 15% of the group's invested capital. Over our 10-year discrete forecast period we don't expect residential development to exceed the lofty peaks seen in 2017, when Mirvac settled 3,400 residential lots, however, we expect modest growth over time as Mirvac gains market share and constructs housing into an under-supplied market. About 80% of Mirvac's earnings come from a predictable commercial property portfolio, more than half of which is high-grade office and another fourth in retail, a small industrial portfolio, and a small but growing build-to-rent residential portfolio.

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