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Esterline Technologies Corp  (NYSE:ESL) Accounts Receivable: $438 Mil (As of Sep. 2017)

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Esterline Technologies Corp's accounts receivables for the quarter that ended in Sep. 2017 was $438 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Esterline Technologies Corp's Days Sales Outstanding for the quarter that ended in Sep. 2017 was 75.19.

In Ben Graham's calculation of liquidation value, accounts receivable are only considered to be worth 75% of book value. Esterline Technologies Corp's Net-Net Working Capital for the quarter that ended in Sep. 2017 was $-416 Mil.


Historical Data

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

* Premium members only.

Esterline Technologies Corp Annual Data

Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Sep15 Sep16 Sep17
Accounts Receivable Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 383.67 379.89 380.75 422.07 437.96

Esterline Technologies Corp Quarterly Data

Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
Accounts Receivable Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 422.07 363.83 398.79 401.48 437.96

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.

Esterline Technologies Corp's Days Sales Outstanding for the quarter that ended in Sep. 2017 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=437.963/531.527*91
=75.19

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

Esterline Technologies Corp'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)
=307.826-1293.716+0.75 * 437.963+0.5 * 482.701
=-416

* 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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