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RLI Accounts Receivable

: \$559.4 Mil (As of Sep. 2020)
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Accounts Receivable are created when a customer has received a product but has not yet paid for that product. RLI's accounts receivables for the quarter that ended in Sep. 2020 was \$559.4 Mil.

Accounts receivable can be measured by Days Sales Outstanding. RLI's Days Sales Outstanding for the quarter that ended in Sep. 2020 was 194.22.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. RLI's Net-Net Working Capital per share for the quarter that ended in Sep. 2020 was \$-0.96.

RLI Accounts Receivable Historical Data

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

 RLI Annual Data Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Accounts Receivable 441.51 414.61 436.34 517.58 544.89

 RLI Quarterly Data Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Accounts Receivable 539.14 544.89 520.53 519.70 559.39

RLI Accounts Receivable Calculation

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

RLI 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.

RLI's Days Sales Outstanding for the quarter that ended in Sep. 2020 is calculated as:

 Days Sales Outstanding = Accounts Receivable / Revenue * Days in Period = 559.387 / 262.811 * 91 = 194.22

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

RLI's Net-Net Working Capital Per Share for the quarter that ended in Sep. 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) = (2230.384 + 0.75 * 559.387 + 0.5 * 0 - 2693.161 - 0 - 0) / 45.0552 = -0.96

* 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.