Legg Mason (Legg Mason) Accounts Receivable : $406 Mil (As of Jun. 2020)

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What is Legg Mason Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Legg Mason's accounts receivables for the quarter that ended in Jun. 2020 was $406 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Legg Mason's Days Sales Outstanding for the quarter that ended in Jun. 2020 was 55.67.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Legg Mason's Net-Net Working Capital per share for the quarter that ended in Jun. 2020 was $-26.15.

Legg Mason Accounts Receivable Historical Data

The historical data trend for Legg Mason'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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Legg Mason Accounts Receivable Chart

Legg Mason Annual Data

Trend

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Accounts Receivable

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334.92

433.19

475.59

425.47

407.89

Legg Mason Quarterly Data
	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20
Accounts Receivable	Get a 7-Day Free Trial															425.32	455.24	461.79	407.89	406.41

Legg Mason Accounts Receivable Calculation

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

Legg Mason 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.

Legg Mason's Days Sales Outstanding for the quarter that ended in Jun. 2020 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	406.411	/	666.186	*	91
=	55.67

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

Legg Mason's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2020 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)
=	(1378.726	+	0.75 * 406.411	+	0.5 * 0	-	4022.115
-	0	-	28.974)	/	90.5349
=	-26.15

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.

Legg Mason Accounts Receivable Related Terms

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Legg Mason (Legg Mason) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Legg Mason Inc (NYSE:LM) » Definitions » Accounts Receivable

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Traded in Other Exchanges

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Address

100 International Drive, Baltimore, MD, USA, 21202-1099

Website

https://www.leggmason.com

Legg Mason provides investment management services for institutional and individual investors. The firm had $783.4 billion in managed assets at the end of June, spread among its equity (25% of total AUM), fixed-income (57%), alternatives (9%), and money market (9%) investment platforms. Legg Mason uses a multiaffiliate business model, with its single- largest affiliate, Western Asset Management, accounting for more than 60% of managed assets. Other major affiliates include ClearBridge Investments (more than 15% of AUM), Brandywine (less than 10%), and Clarion Partners (less than 10%). The remaining affiliates--Martin Currie, Royce & Associates, EnTrustPermal, QS Investors, and RARE Infrastructure--each account for 2% or less of Legg Mason's managed assets.