Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Circle SpA's change in receivables for the quarter that ended in Dec. 2025 was €3,757.55 Mil. It means Circle SpA's Accounts Receivable
declined by €3,757.55 Mil
from Jun. 2025 to Dec. 2025 .
Circle SpA's change in receivables for the fiscal year that ended in Dec. 2025 was €-5.47 Mil. It means Circle SpA's Accounts Receivable
increased by €5.47 Mil
from Dec. 2024 to Dec. 2025 .
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 Receivable are being managed.
Circle SpA's Days Sales Outstanding for the
six
months ended in Dec. 2025 was 189.90.
In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Circle SpA's liquidation value for the
six
months ended in Dec. 2025 was €-0.41 Mil.
Circle SpA (MIL:CIRC) Change In Receivables 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 Receivable are being managed.
Circle SpA's Days Sales Outstanding for the quarter that ended in Dec. 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.
Circle SpA Change In Receivables Related Terms
Circle SpA Change In Receivables Historical Data
* Premium members only.
The historical data trend for Circle SpA's Change In Receivables 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.
Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.
Change In Receivables for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €-5.47 Mil.
* 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.
What does a Change In Receivables of €-5.47 Mil mean?
Circle SpA (MIL:CIRC) has a Change In Receivables of €-5.47 Mil as of Dec. 2025. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Circle SpA and its competitors.
Is Circle SpA's Change In Receivables too high?
Circle SpA's current Change In Receivables is €-5.47 Mil. Overall, Circle SpA has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Circle SpA's Change In Receivables compare to IBM and ACN?
Circle SpA's Change In Receivables of €-5.47 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Receivables for a Software company?
A good Change In Receivables depends on the Software industry context. However, Change In Receivables should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Receivables mean?
A high Change In Receivables can signal that a stock is expensive relative to its fundamentals. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Circle SpA and its competitors. Circle SpA's current Change In Receivables is €-5.47 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Circle SpA stock overvalued right now?
Based on GuruFocus' analysis, Circle SpA (MIL:CIRC) is currently considered Modestly Overvalued. The stock's GF Value™ is €12.21, compared to a current price of €13.65 — trading 11.8% above its estimated fair value. The current Change In Receivables is €-5.47 Mil. Circle SpA's overall GF Score™ is 85/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Receivables calculated?
Change In Receivables is calculated from a company's financial statements. For Circle SpA (MIL:CIRC), the current Change In Receivables is €-5.47 Mil 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 Circle SpA (MIL:CIRC) Overvalued in 2026?
Based on GuruFocus' analysis, Circle SpA stock appears to be overvalued.
The current stock price of €13.65 is trading 11.8% above its estimated GF Value™ of €12.21.
GuruFocus considers Circle SpA to be Modestly Overvalued.
Key valuation signals for MIL:CIRC:
Change In Receivables: €-5.47 Mil
GF Value™: €12.21 vs. price of €13.65 (11.8% above fair value)
No single metric tells the full story. See the MIL:CIRC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Circle SpA is engaged in providing consulting services, technological solutions, and digital marketing services to companies operating predominantly in the logistics and transportation sectors. It provides strategic consulting services in the fields of port management, logistics, and transport, and also develops software solutions to optimize flow management and improve logistics processes. The company's service offerings in the digital marketing sector include; services for the analysis, identification, and use of multi-channel communication tools for the implementation of digital marketing strategies.
85GF Score
Get the complete analysis for MIL:CIRC
Change In Receivables is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MIL:CIRC has been successfully added to your 
