Permex Petroleum (XCNQ:OIL) Receivables Turnover : 1.22 (As of Jun. 2023)

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What is Permex Petroleum 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. Permex Petroleum's Revenue for the three months ended in Jun. 2023 was C$0.21 Mil. Permex Petroleum's average Accounts Receivable for the three months ended in Jun. 2023 was C$0.17 Mil. Hence, Permex Petroleum's Receivables Turnover for the three months ended in Jun. 2023 was 1.22.

Permex Petroleum Receivables Turnover Historical Data

The historical data trend for Permex Petroleum'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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Permex Petroleum Receivables Turnover Chart

Permex Petroleum Annual Data

Trend

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Receivables Turnover

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5.52

8.10

10.38

3.13

11.77

Permex Petroleum 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															1.72	1.60	1.39	1.07	1.22

Competitive Comparison of Permex Petroleum's Receivables Turnover

For the Oil & Gas E&P subindustry, Permex Petroleum'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.

Permex Petroleum's Receivables Turnover Distribution in the Oil & Gas Industry

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

* The bar in red indicates where Permex Petroleum's Receivables Turnover falls into.

Permex Petroleum Receivables Turnover Calculation

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

Permex Petroleum's Receivables Turnover for the fiscal year that ended in Sep. 2022 is calculated as

	Receivables Turnover (A: Sep. 2022 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Sep. 2022 )	/ (	(Accounts Receivable (A: Sep. 2021 )	+	Accounts Receivable (A: Sep. 2022 ))	/	count )
=	1.171	/ (	(0.016	+	0.183)	/	2 )
=	1.171	/	0.0995
=	11.77

Permex Petroleum'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 )
=	0.209	/ (	(0.213	+	0.129)	/	2 )
=	0.209	/	0.171
=	1.22

Permex Petroleum (XCNQ:OIL) 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.

Permex Petroleum Receivables Turnover Related Terms

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Permex Petroleum (XCNQ:OIL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Permex Petroleum Corp (XCNQ:OIL) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

OILCF:USA 75P:Germany

Address

666 Burrard Street, Suite 500, Vancouver, BC, CAN, V6C 2X8

Website

https://www.permexpetroleum.com

Permex Petroleum Corp is a junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware SubBasin of New Mexico. The company through its wholly-owned subsidiary, Permex Petroleum US Corporation owns and operates on private, state, and federal land. The company has a single reportable segment i.e. acquisition, development, and production of oil and gas properties in the United States.

Executives

Mehran Ehsan

Director, Senior Officer