Kits Eyecare (TSX:KITS) Accounts Receivable : C$1.7 Mil (As of Dec. 2023)

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What is Kits Eyecare Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Kits Eyecare's accounts receivables for the quarter that ended in Dec. 2023 was C$1.7 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Kits Eyecare's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 4.86.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Kits Eyecare's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was C$-0.36.

Kits Eyecare Accounts Receivable Historical Data

The historical data trend for Kits Eyecare'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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Kits Eyecare Accounts Receivable Chart

Kits Eyecare Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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0.85

1.00

0.44

0.85

1.69

Kits Eyecare Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Accounts Receivable	Get a 7-Day Free Trial													0.85	0.71	0.82	1.00	1.69

Kits Eyecare Accounts Receivable Calculation

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

Kits Eyecare 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.

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

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	1.688	/	31.663	*	91
=	4.86

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

Kits Eyecare'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)
=	(16.04	+	0.75 * 1.688	+	0.5 * 15.409	-	36.195
-	0	-	0)	/	31.4398
=	-0.36

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.

Kits Eyecare Accounts Receivable Related Terms

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Kits Eyecare (TSX:KITS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Kits Eyecare Ltd (TSX:KITS) » Definitions » Accounts Receivable

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KTYCF:USA 0P3:Germany

Address

510 Seymour Street, Suite 1020, Vancouver, BC, CAN, V6B 3J5

Website

https://www.kits.com

Kits Eyecare Ltd is a vertically integrated, digitally native eyecare platform that offers its customers access to a vast selection of the highest quality contact lenses and eyeglasses, including its own exclusive KITS-designed products, and a suite of online vision tools. It operates a network of optical e-commerce websites, including KITS.com, KITS.ca, OptiContacts.com, and ContactsExpress.ca. The company's contact lens partners include Alcon, Bausch & Lomb, CooperVision, and Johnson & Johnson, and its glasses partners include Gucci, Oakley, Prive Revaux, Ray-Ban, and Tom Ford, which enables it to offer its customers first class brands and products in eye care.

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