GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Covenant Logistics Group Inc (FRA:CV5) » Definitions » Accounts Receivable

Covenant Logistics Group (FRA:CV5) Accounts Receivable : €135 Mil (As of Jun. 2024)


View and export this data going back to 2014. Start your Free Trial

What is Covenant Logistics Group Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Covenant Logistics Group's accounts receivables for the quarter that ended in Jun. 2024 was €135 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Covenant Logistics Group's Days Sales Outstanding for the quarter that ended in Jun. 2024 was 46.04.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Covenant Logistics Group's Net-Net Working Capital per share for the quarter that ended in Jun. 2024 was €-32.64.


Covenant Logistics Group Accounts Receivable Historical Data

The historical data trend for Covenant Logistics Group'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.

* Premium members only.

Covenant Logistics Group Accounts Receivable Chart

Covenant Logistics Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Accounts Receivable
Get a 7-Day Free Trial Premium Member Only Premium Member Only 73.09 75.04 125.99 113.06 130.68

Covenant Logistics Group Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Accounts Receivable Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 132.36 144.47 130.68 132.46 134.77

Covenant Logistics Group Accounts Receivable Calculation

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


Covenant Logistics Group 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.

Covenant Logistics Group's Days Sales Outstanding for the quarter that ended in Jun. 2024 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=134.765/267.085*91
=46.04

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

Covenant Logistics Group's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2024 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)
=(1.189+0.75 * 134.765+0.5 * 5.207-534.745
-0-0)/13.1709
=-32.64

* 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.


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.


Covenant Logistics Group Accounts Receivable Related Terms

Thank you for viewing the detailed overview of Covenant Logistics Group's Accounts Receivable provided by GuruFocus.com. Please click on the following links to see related term pages.


Covenant Logistics Group Business Description

Traded in Other Exchanges
Address
400 Birmingham Highway, Chattanooga, TN, USA, 37419
Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Covenant Logistics Group Headlines

No Headlines