Westgate Energy (TSXV:WGT) Accounts Receivable : C$0.56 Mil (As of Sep. 2024)

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What is Westgate Energy Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Westgate Energy's accounts receivables for the quarter that ended in Sep. 2024 was C$0.56 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Westgate Energy's Days Sales Outstanding for the quarter that ended in Sep. 2024 was 64.04.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Westgate Energy's Net-Net Working Capital per share for the quarter that ended in Sep. 2024 was C$-0.01.

Westgate Energy Accounts Receivable Historical Data

The historical data trend for Westgate Energy'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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Westgate Energy Accounts Receivable Chart

Westgate Energy Annual Data

Trend

Dec22

Accounts Receivable

0.01

Westgate Energy Quarterly Data
	Dec22	Jun23	Sep23	Dec23	Jun24	Sep24
Accounts Receivable	Get a 7-Day Free Trial			-	-	0.17	0.42	0.56

Westgate Energy Accounts Receivable Calculation

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

Westgate Energy 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.

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

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.56	/	0.798	*	91
=	64.04

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

Westgate Energy'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)
=	(2.789	+	0.75 * 0.56	+	0.5 * 0.058	-	3.859
-	0	-	0)	/	50.328
=	-0.01

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.

Westgate Energy Accounts Receivable Related Terms

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Westgate Energy Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Westgate Energy Inc (TSXV:WGT) » Definitions » Accounts Receivable

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Address

2020 4th Street SW, Suite 420, Calgary, AB, CAN, T2S 1W3

Website

https://www.westgateenergy.ca

Westgate Energy Inc is focused on the emerging Mannville Stack fairway located in East-Central Alberta and West Central Saskatchewan, where known accumulations of medium and heavy oil are being unlocked via the application of modern drilling techniques utilizing multi-lateral horizontal drilling. The application of these modernized multi-lateral drilling techniques has yielded some of the strongest oil well economics throughout Western Canada.

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