Bitfarms (TSX:BITF) Days Sales Outstanding : 2.25 (As of Sep. 2024)

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What is Bitfarms Days Sales Outstanding?

Bitfarms's average Accounts Receivable for the three months ended in Sep. 2024 was C$1.5 Mil. Bitfarms's Revenue for the three months ended in Sep. 2024 was C$60.8 Mil. Hence, Bitfarms's Days Sales Outstanding for the three months ended in Sep. 2024 was 2.25.

The historical rank and industry rank for Bitfarms's Days Sales Outstanding or its related term are showing as below:

TSX:BITF' s Days Sales Outstanding Range Over the Past 10 Years
Min: 1.78 Med: 6.08 Max: 14.18
Current: 1.92

During the past 7 years, Bitfarms's highest Days Sales Outstanding was 14.18. The lowest was 1.78. And the median was 6.08.

TSX:BITF's Days Sales Outstanding is ranked better than
93.11% of 566 companies
in the Capital Markets industry
Industry Median: 62.275 vs TSX:BITF: 1.92

Bitfarms's Days Sales Outstanding declined from Sep. 2023 (2.85) to Sep. 2024 (2.25).

Bitfarms Days Sales Outstanding Historical Data

The historical data trend for Bitfarms's Days Sales Outstanding 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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Bitfarms Days Sales Outstanding Chart

Bitfarms Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Sales Outstanding

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13.96

14.18

2.31

2.15

1.78

Bitfarms Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Days Sales Outstanding	Get a 7-Day Free Trial															2.85	1.86	1.30	1.60	2.25

Competitive Comparison of Bitfarms's Days Sales Outstanding

For the Capital Markets subindustry, Bitfarms's Days Sales Outstanding, along with its competitors' market caps and Days Sales Outstanding 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.

Bitfarms's Days Sales Outstanding Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Bitfarms's Days Sales Outstanding distribution charts can be found below:

* The bar in red indicates where Bitfarms's Days Sales Outstanding falls into.

Bitfarms Days Sales Outstanding Calculation

Days Sales Outstanding measures 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.

Accounts Receivable can be measured by Days Sales Outstanding.

Bitfarms's Days Sales Outstanding for the fiscal year that ended in Dec. 2023 is calculated as

	Days Sales Outstanding (A: Dec. 2023 )
=	Average Accounts Receivable					/	Revenue	*	Days in Period
=	( (Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )	/	Revenue (A: Dec. 2023 )	*	Days in Period
=	( (0.952	+	0.958)	/	2 )	/	196.365	*	365
=	0.955					/	196.365	*	365
=	1.78

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

	Days Sales Outstanding (Q: Sep. 2024 )
=	Average Accounts Receivable					/	Revenue	*	Days in Period
=	( (Accounts Receivable (A: Jun. 2024 )	+	Accounts Receivable (A: Sep. 2024 ))	/	count )	/	Revenue (A: Sep. 2024 )	*	Days in Period
=	( (1.007	+	1.995)	/	2 )	/	60.758	*	365 / 4
=	1.501					/	60.758	*	365 / 4
=	2.25

Bitfarms (TSX:BITF) Days Sales Outstanding Explanation

For retailers, when we compare Days Sales Outstanding, it is important to compare the same period in the previous years.

Bitfarms Days Sales Outstanding Related Terms

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Bitfarms Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Bitfarms Ltd (TSX:BITF) » Definitions » Days Sales Outstanding

Comparable Companies

Traded in Other Exchanges

BITF:USA 1B2:Germany

Address

110 Yonge Street, Suite 1601, Toronto, ON, CAN, M5C 1T4

Website

https://bitfarms.com

Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina, and Paraguay. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain.

Executives

Brian Howlett	Director
Inc. Riot Platforms	10% Security Holder
Philippe Fortier	Senior Officer
Damian Polla	Senior Officer
Guillaume Reeves	Senior Officer
Colin Yee	Deemed Insider - 6 Months before becoming Insider, Director or Senior Officer of 10% Security Holder
Nicolas Bonta	10 percent owner, Director
Andres Finkielsztain	Director
Lawrence Geoffrey Morphy	Director, Senior Officer
Patricia Osorio	Senior Officer
Jeffrey Lucas	Senior Officer
Paul Magrath	Senior Officer
Marc-andré Ammann	Senior Officer
Andrea Keen	Senior Officer
Benoit Gobeil	Senior Officer