SHP Celex a.d (XBLB:CELX-R-A) Accounts Receivable : BAM5.57 Mil (As of Dec. 2013)

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What is SHP Celex a.d Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. SHP Celex a.d's accounts receivables for the quarter that ended in Dec. 2013 was BAM5.57 Mil.

Accounts receivable can be measured by Days Sales Outstanding. SHP Celex a.d's Days Sales Outstanding for the quarter that ended in Dec. 2013 was 13.74.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. SHP Celex a.d's Net-Net Working Capital per share for the quarter that ended in Dec. 2013 was BAM-2.86.

SHP Celex a.d Accounts Receivable Historical Data

The historical data trend for SHP Celex a.d'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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SHP Celex a.d Accounts Receivable Chart

SHP Celex a.d Annual Data

Trend

Dec12

Dec13

Accounts Receivable

5.58

5.57

SHP Celex a.d Semi-Annual Data
	Dec12	Dec13
Accounts Receivable	5.58	5.57

SHP Celex a.d Accounts Receivable Calculation

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

SHP Celex a.d 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.

SHP Celex a.d's Days Sales Outstanding for the quarter that ended in Dec. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	5.567	/	73.965	*	91
=	13.74

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

SHP Celex a.d's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2013 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)
=	(2.858	+	0.75 * 5.567	+	0.5 * 7.422	-	48.49
-	0	-	0)	/	13.2089
=	-2.86

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.

SHP Celex a.d Accounts Receivable Related Terms

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SHP Celex a.d (XBLB:CELX-R-A) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » SHP Celex a.d (XBLB:CELX-R-A) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

Veljka Mladjenoviaea bb, Banja Luka, BIH, 78102

Website

http://www.shpgroup.eu

SHP Celex a.d. operates in the industry of household and personal products. The company is engaged in manufacturing of hygienic papers in Central and South Eastern Europe. The products of the company include toilet paper, kitchen towels, handkerchiefs, facial tissues, and napkins.

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