GLKFF (Cleantek Industries) Accounts Receivable : $1.63 Mil (As of Sep. 2024)

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What is Cleantek Industries Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Cleantek Industries's accounts receivables for the quarter that ended in Sep. 2024 was $1.63 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Cleantek Industries's Days Sales Outstanding for the quarter that ended in Sep. 2024 was 72.57.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Cleantek Industries's Net-Net Working Capital per share for the quarter that ended in Sep. 2024 was $-0.27.

Cleantek Industries Accounts Receivable Historical Data

The historical data trend for Cleantek Industries'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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Cleantek Industries Accounts Receivable Chart

Cleantek Industries Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

1.09

1.51

1.85

1.89

Cleantek Industries Quarterly Data
	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Accounts Receivable	Get a 7-Day Free Trial												2.23	1.89	1.86	1.44	1.63

Cleantek Industries Accounts Receivable Calculation

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

Cleantek Industries 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.

Cleantek Industries's Days Sales Outstanding for the quarter that ended in Sep. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	1.632	/	2.052	*	91
=	72.57

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

Cleantek Industries's Net-Net Working Capital Per Share for the quarter that ended in Sep. 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)
=	(0.124	+	0.75 * 1.632	+	0.5 * 0	-	9.327
-	0	-	0)	/	29.260
=	-0.27

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.

Cleantek Industries Accounts Receivable Related Terms

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Cleantek Industries Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Cleantek Industries Inc (OTCPK:GLKFF) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

CTEK:Canada

Address

500 - 4th Avenue SW, Suite 3200, Calgary, AB, CAN, T2P 3C4

Website

https://www.cleantekinc.com

Cleantek Industries Inc is engaged in the manufacturing and rental of equipment to the oil and gas and construction industries in Western Canada and the United States. Its products include ZeroE, Halo, DZeroE, and SolarHybrid.Li, SolarHybrid, and Stadium Lighting among others. The company's revenue is generated from the rental and service of dehydration units, lighting towers, and lighting systems based on fixed or agreed-upon service contracts with the customer.