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Steiner Leisure Ltd  (NAS:STNR) Change In Receivables: \$-1.7 Mil (As of Sep. 2015)

Steiner Leisure Ltd's change in receivables for the quarter that ended in Sep. 2015 was \$-1.7 Mil. It means Steiner Leisure Ltd's Accounts Receivable declined by \$1.7 Mil from Jun. 20 to Sep. 2015 .

Steiner Leisure Ltd's change in receivables for the fiscal year that ended in Dec. 2014 was \$-18.3 Mil. It means Steiner Leisure Ltd's Accounts Receivable declined by \$18.3 Mil from Dec. 2013 to Dec. 2014 .

Steiner Leisure Ltd's Accounts Receivable for the quarter that ended in Sep. 2015 was \$76.3 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 Receivable are being managed. Steiner Leisure Ltd's Days Sales Outstanding for the three months ended in Sep. 2015 was 30.63.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Steiner Leisure Ltd's liquidation value for the three months ended in Sep. 2015 was \$-224.1 Mil.

Historical Data

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

Steiner Leisure Ltd Annual Data

 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Change In Receivables -7.15 2.73 -13.25 -8.40 -18.33

Steiner Leisure Ltd Quarterly Data

 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Change In Receivables -17.83 1.48 -11.67 9.27 -1.67

Calculation

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 Receivable are being managed.

Steiner Leisure Ltd's Days Sales Outstanding for the quarter that ended in Sep. 2015 is calculated as:

 Days Sales Outstanding = Accounts Receivable / Revenue * Days in Period = 76.333 / 227.405 * 91 = 30.63

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

Steiner Leisure Ltd's liquidation value for the quarter that ended in Sep. 2015 is calculated as:

 Liquidation Value = Cash, Cash Equivalents, Marketable Securities - Total Liabilities + (0.75 * Accounts Receivable) + (0.5 * Total Inventories) = 54.404 - 363.179 + 0.75 * 76.333 + 0.5 * 54.861 = -224.1

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

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