Foster Wheeler AG (FRA:FWI) Accounts Receivable : €482 Mil (As of Sep. 2014)

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What is Foster Wheeler AG Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Foster Wheeler AG's accounts receivables for the quarter that ended in Sep. 2014 was €482 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Foster Wheeler AG's Days Sales Outstanding for the quarter that ended in Sep. 2014 was 65.90.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Foster Wheeler AG's Net-Net Working Capital per share for the quarter that ended in Sep. 2014 was €-5.98.

Foster Wheeler AG Accounts Receivable Historical Data

The historical data trend for Foster Wheeler AG'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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Foster Wheeler AG Accounts Receivable Chart

Foster Wheeler AG Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Accounts Receivable

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361.20

436.51

325.27

464.22

490.39

Foster Wheeler AG Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
Accounts Receivable	Get a 7-Day Free Trial															463.55	490.39	517.21	506.58	481.79

Foster Wheeler AG Accounts Receivable Calculation

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

Foster Wheeler AG 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.

Foster Wheeler AG's Days Sales Outstanding for the quarter that ended in Sep. 2014 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	481.792	/	667.143	*	91
=	65.90

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

Foster Wheeler AG's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2014 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)
=	(347.383	+	0.75 * 481.792	+	0.5 * 0	-	1290.181
-	0	-	17.649)	/	100.127
=	-5.98

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.

Foster Wheeler AG Accounts Receivable Related Terms

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Foster Wheeler AG (FRA:FWI) Business Description

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Website

http://www.fwc.com

Foster Wheeler AG was formed in 1927. The Company, with its subsidiaries, is a provider of construction and engineering services. The Company serves the oil and gas, oil refining, chemical and petrochemical, environmental, power generation, and power plant operation and maintenance industries. The Company operates through two business groups: its Global Engineering and Construction Group (Global E&C Group) and its Global Power Group. The Global E&C Group operates and designs, engineers, and constructs onshore and offshore upstream oil and gas processing facilities, natural gas liquefaction facilities and receiving terminals, gas-to-liquids facilities, oil refining, pharmaceutical and biotechnology facilities and related infrastructure, power generation and distribution facilities, and gasification facilities. The group provides engineering, project management and construction management services, and also designs facilities in new or developing market sectors, such as carbon capture and storage, solid fuel-fired integrated gasification combined-cycle power plants, coal-to-liquids, coal-to-chemicals and biofuels. The Global E&C Group additionally performs environmental remediation services. The Global Power Group designs, manufactures and installs steam generators and auxiliary equipment for electric power generating stations, district heating and power plants and industrial facilities. It offers new and retrofit nitrogen-oxide reduction systems, and provides site services related to these products, including construction and erection, maintenance engineering, plant upgrading, and life extensions. The Global Power Group conducts research and development in the areas of combustion, solid, fluid, and gas dynamics, heat transfer, materials, and solid mechanics. Further, this group owns and operates independent power production and waste-to-energy facilities, as well as power generation facilities for the process and petrochemical industries. Companies that compete with Global E&C Group include but are not limited to the following: Bechtel Corporation; Chicago Bridge & Iron Company N.V.; Chiyoda Corporation; Fluor Corporation; Jacobs Engineering Group Inc.; JGC Corporation; KBR, Inc.; Saipem S.p.A.; Technip; TÃ©cnicas Reunidas, SA; and WorleyParsons Ltd. Companies that compete with Global Power Group include but are not limited to the following: Alstom Power S.A.; Andritz Group AG; The Babcock & Wilcox Company; Babcock Power Inc.; Dongfang Boiler Works (a subsidiary of Dong Fang Electric Corporation); Doosan-Babcock; Harbin Boiler Co., Ltd.; Hitachi, Ltd.; Metso Corporation; Mitsubishi Heavy Industries Ltd.; and Shanghai Boiler Works Ltd. The operations are subject to certain federal, state and local environmental, occupational health and product safety laws.

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