Empire Petroleum (Empire Petroleum) Accounts Receivable

: $8.36 Mil (As of Dec. 2023)

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Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Empire Petroleum's accounts receivables for the quarter that ended in Dec. 2023 was $8.36 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Empire Petroleum's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 76.90.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Empire Petroleum's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-1.68.

Empire Petroleum Accounts Receivable Historical Data

The historical data trend for Empire Petroleum's Accounts Receivable 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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Empire Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

0.98

1.25

7.73

7.78

8.36

Empire Petroleum Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Accounts Receivable																7.78	6.50	7.69	7.23	8.36

Empire Petroleum Accounts Receivable Calculation

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

Empire Petroleum Accounts Receivable 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.

Empire Petroleum's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	8.355	/	9.914	*	91
=	76.90

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Empire Petroleum's accounts receivable are only considered to be worth 75% of book value:

Empire Petroleum's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(7.793	+	0.75 * 8.355	+	0.5 * 1.433	-	57.659
-	0	-	0)	/	25.5035
=	-1.68

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.

Empire Petroleum Accounts Receivable Related Terms

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Empire Petroleum (Empire Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Empire Petroleum Corp (AMEX:EP) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

2200 South Utica Place, Suite 150, Tulsa, OK, USA, 74114

Website

http://www.empirepetroleumcorp.com

Empire Petroleum Corp is engaged in the exploration and development of oil and natural gas in the United States. All of the company's producing properties are located in Louisiana, Texas, North Dakota, and New Mexico. It generates revenue from Oil and Gas sales.

Executives

Marchive Benjamin J. Ii	director	1021 MAIN STREET, SUITE 2626, HOUSTON TX 77002-6516
Energy Evolution Master Fund, Ltd.	10 percent owner	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
J Kevin Vann	officer: VP, Finance/Strategic Planning	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
Phil E Mulacek	10 percent owner	25025 I 45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Mason H. Matschke	director	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Faulkner Stephen L Jr	officer: Controller and Chief Acctg Ofc	3500 ONE WILLIAMS CENTER, TULSA OK 74172
Eugene J Sweeney	officer: Chief Operating Officer	151 W BURTON PL, CHICAGO IL 60610
Michael R. Morrisett	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324
Thomas W. Pritchard	officer: Chief Executive Officer	15798 SPYGLASS HILL LOOP, GAINESVILLE VA 20155
Andrew Lloyd Lewis	director	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Angela M Baker	officer: Chief Accounting Officer	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Puckett Land Co	10 percent owner	5460 S. QUEBEC ST., SUITE 250, GREENWOOD VILLAGE CO 80111
Tony Kamin	director, 10 percent owner	619 BLUFF STREET, GLENCOE IL 60022
Gary C Adams	10 percent owner	1437 S. BOULDER AVENUE, SUITE 930, TULSA OK 74119
Empire Petroleum Holdings, Llc	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324

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