Source Energy Services (TSX:SHLE) Receivables Turnover : 2.83 (As of Mar. 2024)

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What is Source 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. Source Energy Services's Revenue for the three months ended in Mar. 2024 was C$169.6 Mil. Source Energy Services's average Accounts Receivable for the three months ended in Mar. 2024 was C$60.0 Mil. Hence, Source Energy Services's Receivables Turnover for the three months ended in Mar. 2024 was 2.83.

Source Energy Services Receivables Turnover Historical Data

The historical data trend for Source 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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Source Energy Services Receivables Turnover Chart

Source Energy Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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8.99

6.01

8.29

9.69

13.20

Source Energy Services Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															3.28	2.49	2.97	3.70	2.83

Competitive Comparison of Source Energy Services's Receivables Turnover

For the Oil & Gas Equipment & Services subindustry, Source 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.

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

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

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

Source Energy Services Receivables Turnover Calculation

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

Source Energy Services's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	569.748	/ (	(42.304	+	44.01)	/	2 )
=	569.748	/	43.157
=	13.20

Source Energy Services's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	169.568	/ (	(44.01	+	75.973)	/	2 )
=	169.568	/	59.9915
=	2.83

Source Energy Services (TSX:SHLE) 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.

Source Energy Services Receivables Turnover Related Terms

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Source Energy Services (TSX:SHLE) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

SCEYF:USA S4O0:Germany

Address

500, 1060 - 7th Street SW, Calgary, AB, CAN, T2R 0C4

Website

https://www.sourceenergyservices.com

Source Energy Services Ltd is a Canada based company engaged in the integrated production and distribution of frac sand as well as the distribution of other bulk oil and gas well completion materials that aren't produced by Source. It provides customers with an end-to-end solution for frac sand supported by its Wisconsin mines and processing facilities, its Western Canadian terminal network and its last mile logistics capabilities. The company also offers storage and logistics services for other bulk oil and gas well completion materials and has developed Sahara, a proprietary wellsite mobile sand storage and handling system. The geographical segments of the group are the US Operations and Canadian Operations.

Executives

Derren James Newell

Senior Officer

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