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GuruFocus has detected 2 Warning Signs with Finisar Corp $FNSR.
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Finisar Corp (NAS:FNSR)
Change In Receivables
$-2 Mil (As of Jan. 2017)

Finisar Corp's change in receivables for the quarter that ended in Jan. 2017 was $-2 Mil. It means Finisar Corp's accounts receivables declined by $2 Mil from Oct. 2016 to Jan. 2017 .

Finisar Corp's change in receivables for the fiscal year that ended in Apr. 2016 was $-36 Mil. It means Finisar Corp's accounts receivables declined by $36 Mil from Apr. 2015 to Apr. 2016 .

Finisar Corp's accounts receivables for the quarter that ended in Jan. 2017 was $280 Mil.

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. Finisar Corp's days sales outstanding for the three months ended in Jan. 2017 was 67.16.

In Ben Graham’s calculation of liquidation value, Apple Inc's accounts receivables are only considered to be worth 75% of book value. Finisar Corp's liquidation value for the three months ended in Jan. 2017 was $603 Mil.


Definition

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.


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.

Finisar Corp's Days Sales Outstanding for the quarter that ended in Jan. 2017 is calculated as:

Days Sales Outstanding
=Account Receivable/Revenue*Days in Period
=280.099/380.588*91
=67.16

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

Finisar Corp's liquidation value for the quarter that ended in Jan. 2017 is calculated as:

Liquidation Value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=1214.267-977.1+0.75 * 280.099+0.5 * 312.271
=603

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


Related Terms

Days Sales Outstanding, Account Receivable, Revenue, NCAV, Cash and Cash Equivalents, Total Liabilities, Inventory


Historical Data

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

Finisar Corp Annual Data

Apr07Apr08Apr09Apr10Apr11Apr12Apr13Apr14Apr15Apr16
ChangeInReceivables 29-33-46-411222-7412-36

Finisar Corp Quarterly Data

Oct14Jan15Apr15Jul15Oct15Jan16Apr16Jul16Oct16Jan17
ChangeInReceivables 184-3-225-11-8-6-23-2
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