VNE SpA (MIL:VNE) Change In Receivables: €-0.49 Mil (TTM As of Dec. 2025)

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MIL:VNE VNE SpA MIL:VNE
38 GF Score
Price €2.68
GF Value €3.73
Valuation Modestly Undervalued
! 3 Warning Signs
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What is VNE SpA Change In Receivables?

VNE SpA MIL:VNE +8.06% 38 Change In Receivables is €-0.49 Mil as of Dec. 2025. GuruFocus rates MIL:VNE with a GF Score™ of 38/100 and a GF Value™ of €3.73 (Modestly Undervalued). The stock has 3 warning signs investors should review.

VNE SpA's change in receivables for the quarter that ended in Dec. 2025 was €-0.05 Mil. It means VNE SpA's Accounts Receivable increased by €0.05 Mil from Jun. 2025 to Dec. 2025 .

VNE SpA's change in receivables for the fiscal year that ended in Dec. 2025 was €-0.49 Mil. It means VNE SpA's Accounts Receivable increased by €0.49 Mil from Dec. 2024 to Dec. 2025 .

VNE SpA's Accounts Receivable for the quarter that ended in Dec. 2025 was €9.01 Mil.

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. VNE SpA's Days Sales Outstanding for the six months ended in Dec. 2025 was 182.32.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. VNE SpA's liquidation value for the six months ended in Dec. 2025 was €-3.03 Mil.


VNE SpA  (MIL:VNE) 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.

VNE SpA's Days Sales Outstanding for the quarter that ended in Dec. 2025 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=9.006/9.015*91
=182.32

2. In Ben Graham's calculation of liquidation value, VNE SpA's accounts receivable are only considered to be worth 75% of book value:

VNE SpA's liquidation value for the quarter that ended in Dec. 2025 is calculated as:

Liquidation Value
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=2.424-15.073+0.75 * 9.006+0.5 * 5.731
=-3.03

* 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.


VNE SpA Change In Receivables Related Terms


VNE SpA Change In Receivables Historical Data

* Premium members only.

The historical data trend for VNE 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.

VNE SpA Change In Receivables Chart

VNE SpA Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Change In Receivables
0.78 -1.04 1.61 0.37 -0.49

VNE SpA Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Change In Receivables Get a 7-Day Free Trial 0.00 0.08 0.29 -0.44 -0.05
MIL:VNE
38GF Score
VNE SpA MIL:VNE
Change In Receivables is just one metric. See GF Score™, valuation, warning signs, and more.
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VNE SpA Change In Receivables Calculation

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 €-0.49 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.

Frequently Asked Questions Learn more about Change In Receivables →
What does a Change In Receivables of €-0.49 Mil mean?
VNE SpA (MIL:VNE) has a Change In Receivables of €-0.49 Mil as of Dec. 2025. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for VNE SpA and its competitors.
Is VNE SpA's Change In Receivables too high?
VNE SpA's current Change In Receivables is €-0.49 Mil. Overall, VNE SpA has a GF Score™ of 38/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does VNE SpA's Change In Receivables compare to GEV and ETN?
VNE SpA's Change In Receivables of €-0.49 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Change In Receivables depends on the Industrial Products 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 VNE SpA and its competitors. VNE SpA's current Change In Receivables is €-0.49 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VNE SpA stock overvalued right now?
Based on GuruFocus' analysis, VNE SpA (MIL:VNE) is currently considered Modestly Undervalued. The stock's GF Value™ is €3.73, compared to a current price of €2.68 — trading 28.2% below its estimated fair value. The current Change In Receivables is €-0.49 Mil. VNE SpA's overall GF Score™ is 38/100 with 3 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 VNE SpA (MIL:VNE), the current Change In Receivables is €-0.49 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 VNE SpA (MIL:VNE) Overvalued in 2026?

Based on GuruFocus' analysis, VNE SpA stock appears to be undervalued. The current stock price of €2.68 is trading 28.2% below its estimated GF Value™ of €3.73. GuruFocus considers VNE SpA to be Modestly Undervalued.

Key valuation signals for MIL:VNE:

  • Change In Receivables: €-0.49 Mil
  • GF Value™: €3.73 vs. price of €2.68 (28.2% below fair value)
  • GF Score™: 38/100 with 3 warning signs

No single metric tells the full story. See the MIL:VNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


VNE SpA Business Description

Address Via Biagioni, 371 loc. Querceta, Seravezza (Lu), ITA, 55047
VNE SpA produces hardware and software for the management of banknotes, coins, and, more generally, payments and transactions through cash and cashless systems, offering a wide range of customized products. It creates, samples, and produces all its appliances internally. The company offers consulting and commercial assistance all over the world through a stable and efficient operating network; moreover, it guarantees qualified and immediate maintenance and technical assistance anywhere on every type of machine. The main markets where the company operates internationally are gambling, retail & vending, casino & ticket, and wherever there is a need to manage payments or automated transactions.
38GF Score

Get the complete analysis for MIL:VNE

Change In Receivables is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€2.68
Price
€3.73
GF Value