ITT Educational Services (ITT Educational Services) Accounts Receivable : $49.2 Mil (As of Jun. 2016)

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What is ITT Educational Services Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. ITT Educational Services's accounts receivables for the quarter that ended in Jun. 2016 was $49.2 Mil.

Accounts receivable can be measured by Days Sales Outstanding. ITT Educational Services's Days Sales Outstanding for the quarter that ended in Jun. 2016 was 25.48.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. ITT Educational Services's Net-Net Working Capital per share for the quarter that ended in Jun. 2016 was $-12.71.

ITT Educational Services Accounts Receivable Historical Data

The historical data trend for ITT Educational Services'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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ITT Educational Services Accounts Receivable Chart

ITT Educational Services Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Accounts Receivable

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48.11

78.93

99.53

46.38

48.84

ITT Educational Services Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
Accounts Receivable	Get a 7-Day Free Trial															45.20	42.85	48.84	47.09	49.24

ITT Educational Services Accounts Receivable Calculation

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

ITT Educational Services 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.

ITT Educational Services's Days Sales Outstanding for the quarter that ended in Jun. 2016 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	49.242	/	176.324	*	91
=	25.48

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

ITT Educational Services's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2016 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)
=	(77.999	+	0.75 * 49.242	+	0.5 * 0	-	419.831
-	0	-	0)	/	23.9884
=	-12.71

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.

ITT Educational Services Accounts Receivable Related Terms

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ITT Educational Services (ITT Educational Services) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » ITT Educational Services Inc (OTCPK:ESINQ) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

13000 North Meridian Street, Carmel, IN, USA, 46032-1404

Website

http://www.ittesi.com

ITT Educational Services Inc is a United States based proprietary provider of postsecondary degree programs in the United States based on revenue and student enrollment. The company provides technology-oriented undergraduate and graduate degree programs through its accredited postsecondary institutions, ITT Technical Institutes and Daniel Webster College, to help students develop skills and knowledge that can be used to pursue career opportunities in a variety of fields.

Executives

Tarasi Rocco F Iii	officer: EVP, Chief Financial Officer	C/O ITT EDUCATIONAL SERVICES INC, 13000 NORTH MERIDIAN STREET, CARMEL IN 46032
June M Mccormack	officer: EVP & President Online Div	13000 NORTH MERIDIAN STREET, CARMEL IN 46032
Brown C David Ii	director	3000 GALLERIA TOWER, STE 1000, BIRMINGHAM AL 35244
Thomas I Morgan	director	30541 CARNEY CREEK ROAD, BIGFORK MT 59911
Joanna T Lau	director	30 MONUMENT SQUARE, SUITE 220, CONCORD MA 01742
Ryan L Roney	officer: EVP,Chief Admin&Legal Officer	1541 REYNOLDS ROAD, CHARLOTTE MI 48813
Richard C Blum & Associates Inc	10 percent owner	909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Blum Capital Partners Lp	10 percent owner	909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Blum Strategic Gp Iii, L.l.c.	10 percent owner	909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Blum Strategic Gp Iv, L.l.c.	10 percent owner	909 MONTOGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Saddlepoint Partners Gp, L.l.c.	10 percent owner	909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Jeffrey R Cooper	officer: SVP, Chief Compliance Officer	231 N. MARTINGALE ROAD, SCHAUMBURG IL 60173
Blum Strategic Gp Ii Llc	10 percent owner	909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133
Rand V Araskog	director	-, 125 WORTH AVENUE, SUITE 300, PALM BEACH FL 33480
Richard C Blum	10 percent owner	BLUM CAPITAL PARTNERS, LP, 909 MONTGOMERY STREET, SUITE 400, SAN FRANCISCO CA 94133