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Tesla Inc  (NAS:TSLA) Accounts Receivable: \$608 Mil (As of Sep. 2017)

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Tesla Inc's accounts receivables for the quarter that ended in Sep. 2017 was \$608 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Tesla Inc's Days Sales Outstanding for the quarter that ended in Sep. 2017 was 18.58.

In Ben Graham's calculation of liquidation value, accounts receivable are only considered to be worth 75% of book value. Tesla Inc's Net-Net Working Capital for the quarter that ended in Sep. 2017 was \$-18,174 Mil.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Tesla Inc Annual Data

 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Accounts Receivable 26.84 49.11 226.60 168.97 499.14

Tesla Inc Quarterly Data

 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Accounts Receivable 326.90 499.14 440.35 453.54 607.73

Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Tesla Inc's Days Sales Outstanding for the quarter that ended in Sep. 2017 is calculated as:

 Days Sales Outstanding = Accounts Receivable / Revenue * Days in Period = 607.734 / 2984.675 * 91 = 18.58

2. In Ben Graham's calculation of liquidation value, Tesla Inc's accounts receivable are only considered to be worth 75% of book value:

Tesla Inc's liquidation value for the quarter that ended in Sep. 2017 is calculated as:

 Liquidation value = Cash And Cash Equivalents - Total Liabilities + (0.75 * Accounts Receivable) + (0.5 * Total Inventories) = 3530.03 - 23395.594 + 0.75 * 607.734 + 0.5 * 2471.382 = -18,174

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

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