McMillan Shakespeare (ASX:MMS) Receivables Turnover : 4.12 (As of Jun. 2024)

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What is McMillan Shakespeare 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. McMillan Shakespeare's Revenue for the six months ended in Jun. 2024 was A$170.6 Mil. McMillan Shakespeare's average Accounts Receivable for the six months ended in Jun. 2024 was A$41.4 Mil. Hence, McMillan Shakespeare's Receivables Turnover for the six months ended in Jun. 2024 was 4.12.

McMillan Shakespeare Receivables Turnover Historical Data

The historical data trend for McMillan Shakespeare'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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McMillan Shakespeare Receivables Turnover Chart

McMillan Shakespeare Annual Data

Trend

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Receivables Turnover

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14.54

16.40

12.93

12.55

15.73

McMillan Shakespeare Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Receivables Turnover	Get a 7-Day Free Trial															2.52	6.44	1.96	6.30	4.12

Competitive Comparison of McMillan Shakespeare's Receivables Turnover

For the Staffing & Employment Services subindustry, McMillan Shakespeare'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.

McMillan Shakespeare's Receivables Turnover Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, McMillan Shakespeare's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where McMillan Shakespeare's Receivables Turnover falls into.

McMillan Shakespeare Receivables Turnover Calculation

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

McMillan Shakespeare's Receivables Turnover for the fiscal year that ended in Jun. 2024 is calculated as

	Receivables Turnover (A: Jun. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jun. 2024 )	/ (	(Accounts Receivable (A: Jun. 2023 )	+	Accounts Receivable (A: Jun. 2024 ))	/	count )
=	415.667	/ (	(23.978	+	28.865)	/	2 )
=	415.667	/	26.4215
=	15.73

McMillan Shakespeare's Receivables Turnover for the quarter that ended in Jun. 2024 is calculated as

	Receivables Turnover (Q: Jun. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Jun. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Jun. 2024 ))	/	count )
=	170.603	/ (	(53.874	+	28.865)	/	2 )
=	170.603	/	41.3695
=	4.12

McMillan Shakespeare (ASX:MMS) 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.

McMillan Shakespeare Receivables Turnover Related Terms

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McMillan Shakespeare Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » McMillan Shakespeare Ltd (ASX:MMS) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

NMN:Germany

Address

360 Elizabeth Street, Level 21, The Tower, Melbourne Central, Melbourne, VIC, AUS, 3000

Website

https://www.mmsg.com.au

McMillan Shakespeare is a provider of salary packaging, novated leasing, disability plan management and support co-ordination, and fleet management services. It actively works to cross-sell its products to clients, for example, selling its salary packaging services to its fleet management customers in Australia and New Zealand. McMillan dominates Australia's salary packaging market together with Smartgroup (also covered by Morningstar), and is also Australia's largest provider of novated leasing services by volumes—marginally ahead of Smartgroup and SG Fleet. The group has three operating segments: group remuneration services, asset management services, and plan and support services. Most of the group's revenue is generated from the group remuneration services segment.