Toromont Industries (TSX:TIH) Receivables Turnover : 1.81 (As of Mar. 2024)

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What is Toromont Industries 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. Toromont Industries's Revenue for the three months ended in Mar. 2024 was C$1,016 Mil. Toromont Industries's average Accounts Receivable for the three months ended in Mar. 2024 was C$563 Mil. Hence, Toromont Industries's Receivables Turnover for the three months ended in Mar. 2024 was 1.81.

Toromont Industries Receivables Turnover Historical Data

The historical data trend for Toromont Industries'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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Toromont Industries Receivables Turnover Chart

Toromont Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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7.76

7.43

9.11

8.95

8.26

Toromont Industries 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															1.94	2.08	1.93	2.00	1.81

Competitive Comparison of Toromont Industries's Receivables Turnover

For the Industrial Distribution subindustry, Toromont Industries'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.

Toromont Industries's Receivables Turnover Distribution in the Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, Toromont Industries's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Toromont Industries's Receivables Turnover falls into.

Toromont Industries Receivables Turnover Calculation

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

Toromont Industries'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 )
=	4622.301	/ (	(530.741	+	588.894)	/	2 )
=	4622.301	/	559.8175
=	8.26

Toromont Industries'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 )
=	1016.349	/ (	(588.894	+	536.739)	/	2 )
=	1016.349	/	562.8165
=	1.81

Toromont Industries (TSX:TIH) 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.

Toromont Industries Receivables Turnover Related Terms

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Toromont Industries (TSX:TIH) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » Toromont Industries Ltd (TSX:TIH) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

TMTNF:USA 14T:Germany

Address

3131 Highway 7 West, P.O. Box 5511, Concord, ON, CAN, L4K 1B7

Website

https://www.toromont.com

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates majorly in Canada and derives a smaller portion of sales from the United States of America.

Executives

Jennifer Cochrane	Senior Officer
Miles Sean Ryan Gregg	Senior Officer
Mike Cuddy	Senior Officer
David Allan Malinauskas	Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)

Toromont Industries (TSX:TIH) Headlines

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