Patriot Lithium (ASX:PAT) Accounts Receivable : A$0.06 Mil (As of Dec. 2023)

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What is Patriot Lithium Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Patriot Lithium's accounts receivables for the quarter that ended in Dec. 2023 was A$0.06 Mil.

Accounts receivable can be measured by Days Sales Outstanding.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Patriot Lithium's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was A$0.02.

Patriot Lithium Accounts Receivable Historical Data

The historical data trend for Patriot Lithium'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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Patriot Lithium Accounts Receivable Chart

Patriot Lithium Annual Data

Trend

Jun22

Jun23

Accounts Receivable

0.02

Patriot Lithium Semi-Annual Data
	Dec22	Jun23	Dec23
Accounts Receivable	0.12	-	0.06

Patriot Lithium Accounts Receivable Calculation

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

Patriot Lithium 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.

Patriot Lithium's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.06	/	0	*	91
=

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

Patriot Lithium's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 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)
=	(1.641	+	0.75 * 0.06	+	0.5 * 0	-	0.117
-	0	-	0)	/	91.4546
=	0.02

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.

Patriot Lithium Accounts Receivable Related Terms

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Patriot Lithium (ASX:PAT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Patriot Lithium Ltd (ASX:PAT) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

16 Milligan Street, Level 3, Perth, WA, AUS, 6000

Website

https://www.patriot-lithium.com

Patriot Lithium Ltd is focused on acquiring, exploring and developing lithium projects in South Dakota, Wyoming and Arizona in the United States of America. The company has three project areas, namely the Keystone Project comprising of 255 unpatented lode mining claims, the Tinton West Project comprising the TSD Claim Group of 20 unpatented lode mining claims and the TW Claim Group of 49 unpatented lode mining claims, and the Wickenburg Project comprising of 347 unpatented lode mining claims. The company is also engaged in the Ontario Lithium project.

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