Hagerty (Hagerty) Accounts Receivable : $209 Mil (As of Dec. 2023)

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What is Hagerty Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Hagerty's accounts receivables for the quarter that ended in Dec. 2023 was $209 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Hagerty's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 73.94.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Hagerty's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-14.55.

Hagerty Accounts Receivable Historical Data

The historical data trend for Hagerty'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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Hagerty Accounts Receivable Chart

Hagerty Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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62.50

86.51

122.03

158.96

209.06

Hagerty Quarterly Data
	Dec18	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Accounts Receivable	Get a 7-Day Free Trial												158.96	197.87	270.06	261.13	209.06

Hagerty Accounts Receivable Calculation

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

Hagerty 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.

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

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	209.055	/	258.005	*	91
=	73.94

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

Hagerty'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)
=	(108.326	+	0.75 * 209.055	+	0.5 * 0	-	1177.703
-	0	-	317.805)	/	84.5885
=	-14.55

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.

Hagerty Accounts Receivable Related Terms

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Hagerty (Hagerty) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Hagerty Inc (NYSE:HGTY) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

121 Drivers Edge, Traverse, MI, USA, 49684

Website

https://www.hagerty.com

Hagerty Inc is a provider of specialty automotive insurance. It offers insurance for cars, boats, trucks, motorcycles, tractors, motorsports and others. Substantial revenue is derived from Commission and fees. Geographically it serves Europe, Canada and the United States.

Executives

Laurie Harris	director	C/O SYNCHRONOSS TECHNOLOGIES INC., 200 CROSSING BOULEVARD, BRIDGEWATER TOWNSHIP NJ 08807
Patrick Mcclymont	officer: Chief Financial Officer	902 BROADWAY, 20TH FLOOR, IMAX CORPORATION, NEW YORK NY 10010-6002
Kenneth Ahn	officer: President, Hagerty Marketplace	C/O BRIMSTONE ACQUISITION HOLDINGS CORP., 500 SOUTH POINTE DRIVE, SUITE 240, MIAMI BEACH FL 33139
William H Swanson	director	870 WINTER STREET, WALTHAM MA 02451
Kelly Edward Smith	officer: Chief Strategy Officer	2310 W. THREE LAKES DR., MERIDIAN ID 83646
John Carlisle Butcher	officer: President	18 THOMASINA LN., DARIEN CT 06820
Hagerty Holding Corp.	10 percent owner	121 DRIVERS EDGE, TRAVERSE CITY MI 49684
Mika Salmi	director	GSTEIGSTRASSE 17, ERLENBACH V8 8703
Mckeel Hagerty	director, officer: Chief Executive Officer	175 WILSON RD., TRAVERSE CITY MI 49686
Frederick Turcotte	officer: Chief Financial Officer	579 HIDDEN RIDGE DR., TRAVERSE CITY MI 49686
Champagne Collette	officer: Chief Operating Officer	510 SIXTH ST., TRAVERSE CITY MI 49684
Barbara E Matthews	officer: SVP, Gen. Counsel & Corp Secr.	323 GREEN ACRES LN., ELK RAPIDS MI 49629
Paul Rehrig	officer: Pres. of Hagerty Media & Entmt	13821 W. 87TH DR., ARVADA CO 80005
Michael L. Tipsord	director	STATE FARM INSURANCE COMPANYS, 1 STATE FARM PLAZA, BLOOMINGTON IL 61710
Sabrina Kay	director	30930 RUSSELL RANCH ROAD, SUITE 300, WESTLAKE VILLAGE CA 91362