Essential Energy Services (TSX:ESN) Receivables Turnover : 1.04 (As of Jun. 2023)

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What is Essential Energy Services 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. Essential Energy Services's Revenue for the three months ended in Jun. 2023 was C$28.6 Mil. Essential Energy Services's average Accounts Receivable for the three months ended in Jun. 2023 was C$27.5 Mil. Hence, Essential Energy Services's Receivables Turnover for the three months ended in Jun. 2023 was 1.04.

Essential Energy Services Receivables Turnover Historical Data

The historical data trend for Essential Energy Services'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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Essential Energy Services Receivables Turnover Chart

Essential Energy Services Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Receivables Turnover

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5.34

4.85

4.33

4.77

5.34

Essential Energy Services Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Receivables Turnover	Get a 7-Day Free Trial															1.07	1.48	1.29	1.53	1.04

Competitive Comparison of Essential Energy Services's Receivables Turnover

For the Oil & Gas Equipment & Services subindustry, Essential Energy Services'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.

Essential Energy Services's Receivables Turnover Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Essential Energy Services's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Essential Energy Services's Receivables Turnover falls into.

Essential Energy Services Receivables Turnover Calculation

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

Essential Energy Services's Receivables Turnover for the fiscal year that ended in Dec. 2022 is calculated as

	Receivables Turnover (A: Dec. 2022 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2022 )	/ (	(Accounts Receivable (A: Dec. 2021 )	+	Accounts Receivable (A: Dec. 2022 ))	/	count )
=	150.097	/ (	(29.256	+	26.968)	/	2 )
=	150.097	/	28.112
=	5.34

Essential Energy Services's Receivables Turnover for the quarter that ended in Jun. 2023 is calculated as

	Receivables Turnover (Q: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Jun. 2023 )	/ (	(Accounts Receivable (Q: Mar. 2023 )	+	Accounts Receivable (Q: Jun. 2023 ))	/	count )
=	28.573	/ (	(33.005	+	21.987)	/	2 )
=	28.573	/	27.496
=	1.04

Essential Energy Services (TSX:ESN) 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.

Essential Energy Services Receivables Turnover Related Terms

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Essential Energy Services (TSX:ESN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Essential Energy Services Ltd (TSX:ESN) » Definitions » Receivables Turnover

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Address

250 - 2nd Street SW, Suite 1100, Livingston Place West, Calgary, AB, CAN, T2P 0C1

Website

https://www.essentialenergy.ca

Essential Energy Services Ltd provides oilfield services to oil and natural gas producers, primarily in Western Canada. It operates through two segments: The Essential Coil Well Service segment provides completion, production, and workover services with its fleet of coiled tubing rigs, fluid pumpers, nitrogen pumpers, and ancillary equipment. Tryton segment provides downhole tools and rental services in Canada and the U.S. The majority of revenue is from the ECWS segment.

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