Harvey Norman Holdings's Days Sales Outstanding for the
six
months ended in Dec. 2025 was 75.87.
Harvey Norman Holdings's Days Inventory for the
six
months ended in Dec. 2025 was 102.97.
Harvey Norman Holdings's Days Payable for the
six
months ended in Dec. 2025 was 60.71.
Therefore, Harvey Norman Holdings's Cash Conversion Cycle (CCC) for the
six
months ended in Dec. 2025 was 118.13.
Harvey Norman Holdings (OTCPK:HNORF) Cash Conversion Cycle Explanation
Generally, the lower this number is, the better for the company. Although it should be combined with other metrics (such as ROE % and ROA %), it can be especially useful for comparing close competitors, because the company with the lowest CCC is often the one with better management.
Be Aware
CCC is most effective with retail-type companies, which have inventories that are sold to customers. Consulting businesses, software companies and insurance companies are all examples of companies for whom this metric is meaningless.
The CCC is one of several tools that can help you evaluate management, especially if it is calculated for several consecutive time periods and for several competitors. Decreasing or steady CCCs are good, while rising ones should motivate you to dig a bit deeper.
Harvey Norman Holdings Cash Conversion Cycle Related Terms
Harvey Norman Holdings Cash Conversion Cycle Historical Data
* Premium members only.
The historical data trend for Harvey Norman Holdings's Cash Conversion Cycle 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.
Harvey Norman Holdings Cash Conversion Cycle Chart
HNORF vs CASY, WSM, ULTA: Cash Conversion Cycle Comparison
For the Specialty Retail subindustry, Harvey Norman Holdings's Cash Conversion Cycle, along with its competitors' market caps and Cash Conversion Cycle data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Harvey Norman Holdings Cash Conversion Cycle vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Harvey Norman Holdings's Cash Conversion Cycle distribution charts can be found below:
* The bar in red indicates where Harvey Norman Holdings's Cash Conversion Cycle falls into.
Harvey Norman Holdings Cash Conversion Cycle Calculation
Cash Conversion Cycle (CCC) measures how fast a company can convert cash on hand into even more cash on hand. This metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables and the length of time the company is afforded to pay its bills without incurring penalties.
Cash Conversion Cycle is one of several measures of management effectiveness.
Harvey Norman Holdings's Cash Conversion Cycle for the fiscal year that ended in Jun. 2025 is calculated as
* 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.
Harvey Norman Holdings (HNORF) has a Cash Conversion Cycle of 118.13 as of Dec. 2025. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on Harvey Norman Holdings and its competitors.
Is Harvey Norman Holdings' Cash Conversion Cycle too high?
Harvey Norman Holdings' current Cash Conversion Cycle is 118.13. The Retail - Cyclical industry median Cash Conversion Cycle is 69.79. Harvey Norman Holdings' value of 118.13 is 69.3% above this industry median. Overall, Harvey Norman Holdings has a GF Score™ of 54/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harvey Norman Holdings' Cash Conversion Cycle compare to CASY and WSM?
Harvey Norman Holdings' Cash Conversion Cycle of 118.13 can be compared against companies in the Retail - Cyclical industry. The industry median Cash Conversion Cycle is 69.79. Harvey Norman Holdings' value of 118.13 is 69.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Conversion Cycle for a Retail - Cyclical company?
The median Cash Conversion Cycle among Retail - Cyclical companies is 69.79, based on 1,126 companies in the industry. Companies in the top quartile (top 25%) have a Cash Conversion Cycle significantly above this median, while those in the bottom quartile fall well below. However, Cash Conversion Cycle should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harvey Norman Holdings's current Cash Conversion Cycle of 118.13 is 69.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Conversion Cycle mean?
A high Cash Conversion Cycle can signal that a stock is expensive relative to its fundamentals. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on Harvey Norman Holdings and its competitors. For the Retail - Cyclical industry, the median Cash Conversion Cycle is 69.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harvey Norman Holdings's current Cash Conversion Cycle is 118.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harvey Norman Holdings stock overvalued right now?
Based on GuruFocus' analysis, Harvey Norman Holdings (HNORF) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.07, compared to a current price of $3.72 — trading 21.2% above its estimated fair value. The current Cash Conversion Cycle is 118.13 and 69.3% above the Retail - Cyclical industry median of 69.79. Harvey Norman Holdings' overall GF Score™ is 54/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Conversion Cycle calculated?
Cash Conversion Cycle is calculated from a company's financial statements. For Harvey Norman Holdings (HNORF), the current Cash Conversion Cycle is 118.13 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Harvey Norman Holdings (HNORF) Overvalued in 2026?
Based on GuruFocus' analysis, Harvey Norman Holdings stock appears to be overvalued.
The current stock price of $3.72 is trading 21.2% above its estimated GF Value™ of $3.07.
GuruFocus considers Harvey Norman Holdings to be Modestly Overvalued.
Key valuation signals for HNORF:
Cash Conversion Cycle: 118.13
GF Value™: $3.07 vs. price of $3.72 (21.2% above fair value)
Industry Position: 69.3% above the Retail - Cyclical median
No single metric tells the full story. See the HNORF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harvey Norman Holdings Limited is the franchisor of Harvey Norman, a leading Australia-based retailer that sells goods from the electrical, computer, furniture, entertainment, and bedding sectors. The majority of earnings are generated in Australia, with the international divisions gradually growing in significance.
54GF Score
Get the complete analysis for HNORF
Cash Conversion Cycle is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HNORF has been successfully added to your 
