Cardia Bioplastics (ASX:CNN) Receivables Turnover : 1.68 (As of Dec. 2023)

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What is Cardia Bioplastics Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Cardia Bioplastics's Revenue for the six months ended in Dec. 2023 was A$6.19 Mil. Cardia Bioplastics's average Accounts Receivable for the six months ended in Dec. 2023 was A$3.69 Mil. Hence, Cardia Bioplastics's Receivables Turnover for the six months ended in Dec. 2023 was 1.68.

Cardia Bioplastics Receivables Turnover Historical Data

The historical data trend for Cardia Bioplastics's Receivables Turnover 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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Cardia Bioplastics Receivables Turnover Chart

Cardia Bioplastics Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Receivables Turnover

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5.43

6.13

6.66

4.52

3.82

Cardia Bioplastics Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															2.48	2.20	1.76	2.31	1.68

Competitive Comparison of Cardia Bioplastics's Receivables Turnover

For the Packaging & Containers subindustry, Cardia Bioplastics's Receivables Turnover, along with its competitors' market caps and Receivables Turnover 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.

Cardia Bioplastics's Receivables Turnover Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Cardia Bioplastics's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Cardia Bioplastics's Receivables Turnover falls into.

Cardia Bioplastics Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Cardia Bioplastics's Receivables Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Receivables Turnover (A: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jun. 2023 )	/ (	(Accounts Receivable (A: Jun. 2022 )	+	Accounts Receivable (A: Jun. 2023 ))	/	count )
=	22.836	/ (	(7.87	+	4.075)	/	2 )
=	22.836	/	5.9725
=	3.82

Cardia Bioplastics's Receivables Turnover for the quarter that ended in Dec. 2023 is calculated as

	Receivables Turnover (Q: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2023 )	/ (	(Accounts Receivable (Q: Jun. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	6.193	/ (	(4.075	+	3.307)	/	2 )
=	6.193	/	3.691
=	1.68

Cardia Bioplastics (ASX:CNN) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Cardia Bioplastics Receivables Turnover Related Terms

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Cardia Bioplastics (ASX:CNN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Cardia Bioplastics Ltd (ASX:CNN) » Definitions » Receivables Turnover

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SES:Australia

Address

247 Ferntree Gully Road, Unit 1, Mount Waverley, Melbourne, VIC, AUS, VIC 3149

Website

https://www.secosgroup.com.au

SECOS Group Ltd is an Australian developer and manufacturer of sustainable packaging materials. . Business operating segment includes the manufacture and distribution of polyethylene films, renewable resource-based resins, and finished products. It supplies proprietary biodegradable resins, packaging products cast films to a customer base spread globally.SECOS Global Application Development Centre is in Australia. Product Development Centre and manufacturing plant for resins and finished products in China and resins plant in Malaysia. It also has manufacturing plants for cast films in Malaysia. It conducts sales via geographical regions that include Australia, Asia, America, Europe, and Africa. Asia generates maximum revenue for the company.

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