Western Refining (Western Refining) Accounts Receivable : $406 Mil (As of Mar. 2017)

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What is Western Refining Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Western Refining's accounts receivables for the quarter that ended in Mar. 2017 was $406 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Western Refining's Days Sales Outstanding for the quarter that ended in Mar. 2017 was 15.90.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Western Refining's Net-Net Working Capital per share for the quarter that ended in Mar. 2017 was $-27.06.

Western Refining Accounts Receivable Historical Data

The historical data trend for Western Refining'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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Western Refining Accounts Receivable Chart

Western Refining Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Accounts Receivable

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273.09

599.93

467.53

359.24

423.17

Western Refining Quarterly Data
	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17
Accounts Receivable	Get a 7-Day Free Trial															337.08	539.21	447.33	423.17	405.70

Western Refining Accounts Receivable Calculation

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

Western Refining 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.

Western Refining's Days Sales Outstanding for the quarter that ended in Mar. 2017 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	405.699	/	2328.532	*	91
=	15.90

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

Western Refining's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2017 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)
=	(160.027	+	0.75 * 405.699	+	0.5 * 828.974	-	3226.718
-	0	-	596.803)	/	108.818
=	-27.06

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.

Western Refining Accounts Receivable Related Terms

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Western Refining (Western Refining) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Western Refining Inc (NYSE:WNR) » Definitions » Accounts Receivable

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Address

Website

http://www.wnr.com

Western Refining is an independent oil refiner with total crude oil throughput capacity of 240,500 barrels per day. It owns and operates three refineries in Texas, New Mexico, and Minnesota. The company also operates more than 300 retail service stations throughout the Southwest and Midwest as well as a wholesale petroleum product distributor. It holds a 65% limited partner interest in Western Refining Logistics. It is slated to be acquired by Tesoro in the first half of 2017.

Executives

Sigmund L Cornelius	director	C/O COLUMBIA PIPELINE GROUP, INC., 5151 SAN FELIPE, STE. 2500, HOUSTON TX 77056
David L Lamp	officer: President and COO	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Scott D Weaver	director	C/O WESTERN REFINING, INC., 6500 TROWBRIDGE DRIVE, EL PASO TX 79905
Karen Berriman Davis	officer: EVP and CFO	123 WEST MILLS AVENUE, SUITE 200, EL PASO TX 79901
Carin Marcy Barth	director
Mark B Cox	officer: SVP-Treasurer, Director of IR	680 LEGENDS CREST DRIVE, FRANKLIN TN 37069