Covalon Technologies (Covalon Technologies) Receivables Turnover : 0.97 (As of Dec. 2023)

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What is Covalon Technologies 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. Covalon Technologies's Revenue for the three months ended in Dec. 2023 was $3.48 Mil. Covalon Technologies's average Accounts Receivable for the three months ended in Dec. 2023 was $3.57 Mil. Hence, Covalon Technologies's Receivables Turnover for the three months ended in Dec. 2023 was 0.97.

Covalon Technologies Receivables Turnover Historical Data

The historical data trend for Covalon Technologies'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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Covalon Technologies Receivables Turnover Chart

Covalon Technologies Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Receivables Turnover

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7.69

3.88

4.08

3.17

4.85

Covalon Technologies Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															1.27	1.34	1.15	1.20	0.97

Competitive Comparison of Covalon Technologies's Receivables Turnover

For the Biotechnology subindustry, Covalon Technologies'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.

Covalon Technologies's Receivables Turnover Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Covalon Technologies's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Covalon Technologies's Receivables Turnover falls into.

Covalon Technologies Receivables Turnover Calculation

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

Covalon Technologies's Receivables Turnover for the fiscal year that ended in Sep. 2023 is calculated as

	Receivables Turnover (A: Sep. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Sep. 2023 )	/ (	(Accounts Receivable (A: Sep. 2022 )	+	Accounts Receivable (A: Sep. 2023 ))	/	count )
=	19.655	/ (	(3.547	+	4.554)	/	2 )
=	19.655	/	4.0505
=	4.85

Covalon Technologies'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: Sep. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	3.476	/ (	(4.554	+	2.587)	/	2 )
=	3.476	/	3.5705
=	0.97

Covalon Technologies (OTCPK:CVALF) 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.

Covalon Technologies Receivables Turnover Related Terms

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Covalon Technologies (Covalon Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Covalon Technologies Ltd (OTCPK:CVALF) » Definitions » Receivables Turnover

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COV:Canada

Address

1660 Tech Avenue, Unit 5, Mississauga, ON, CAN, L4W 5S7

Website

https://www.covalon.com

Covalon Technologies Ltd is principally engaged in the business of developing, licensing, and selling medical technologies. The company develops advanced wound care line which is designed for the treatment of a wide range of wounds; and infection prevention products such as MediClear PreOp which is a breathable, transparent, self-adhesive silicone barrier film that conforms to the contours of the body. It also develops perioperative care products. The company generates its revenue through development contracts, licensing agreements, and distribution contracts, and sales.