FRMO (FRMO) Accounts Receivable : $0.60 Mil (As of May. 2014)

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What is FRMO Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. FRMO's accounts receivables for the quarter that ended in May. 2014 was $0.60 Mil.

Accounts receivable can be measured by Days Sales Outstanding. FRMO's Days Sales Outstanding for the quarter that ended in May. 2014 was 17.00.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. FRMO's Net-Net Working Capital per share for the quarter that ended in May. 2014 was $1.60.

FRMO Accounts Receivable Historical Data

The historical data trend for FRMO'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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FRMO Accounts Receivable Chart

FRMO Annual Data

Trend

Feb00

Feb01

Feb02

Feb03

Feb04

May12

May13

May14

Accounts Receivable

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0.02

0.04

0.41

0.48

0.60

FRMO Semi-Annual Data
	Feb00	Feb01	Feb02	Feb03	Feb04	May12	May13	May14
Accounts Receivable	Get a 7-Day Free Trial			0.02	0.04	0.41	0.48	0.60

FRMO Accounts Receivable Calculation

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

FRMO 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.

FRMO's Days Sales Outstanding for the quarter that ended in May. 2014 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.595	/	6.386	*	91
=	17.00

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

FRMO's Net-Net Working Capital Per Share for the quarter that ended in May. 2014 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)
=	(85.927	+	0.75 * 0.595	+	0.5 * 0	-	16.393
-	0	-	0)	/	43.713
=	1.60

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.

FRMO Accounts Receivable Related Terms

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FRMO (FRMO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » FRMO Corp (OTCPK:FRMO) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

1 North Lexington Avenue, Suite 12C, White Plains, NY, USA, 10601

Website

https://www.frmocorp.com

FRMO Corp is focused its activities on making strategic investments in public and private companies.

Executives

Steven Bregman	director, 10 percent owner, officer: President	HORIZON KINETICS LLC, 470 PARK AVENUE SOUTH, 4TH FLOOR SOUTH, NEW YORK NY 10016
Santa Monica Partners Lp	director	1865 PALMER AVENUE, LARCHMONT NY 10538
Lawrence J Goldstein	director	1865 PALMER AVE 108, LARCHMONT NY 10538
Jay P Hirschson	director	747 GREENWICH ST, SUITE 400, NEW YORK NY 10014
Murray Stahl	director, 10 percent owner, officer: CEO	C/O HORIZON KINETICS LLC, 470 PARK AVE S 8TH FL S, NEW YORK NY 10016
Peter Doyle	director, 10 percent owner, officer: Vice President, other: Secretary	470 PARK AVENUE SOUTH, 8TH FLOOR, NEW YORK NY 10016
Lester J Tanner	director, officer: Secretary	100 PARK AVENUE SUITE 3302, NEW YORK NY 10017
Allan Kornfeld	director	123 WILD DUNES WAY, JACKSON NJ 08527