Zhejiang Taimei Medical Technology Co (HKSE:02576) Receivables Turnover : 0.90 (As of Mar. 2024)

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What is Zhejiang Taimei Medical Technology Co 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. Zhejiang Taimei Medical Technology Co's Revenue for the three months ended in Mar. 2024 was HK$143.4 Mil. Zhejiang Taimei Medical Technology Co's average Accounts Receivable for the three months ended in Mar. 2024 was HK$158.8 Mil. Hence, Zhejiang Taimei Medical Technology Co's Receivables Turnover for the three months ended in Mar. 2024 was 0.90.

Zhejiang Taimei Medical Technology Co Receivables Turnover Historical Data

The historical data trend for Zhejiang Taimei Medical Technology Co'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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Zhejiang Taimei Medical Technology Co Receivables Turnover Chart

Zhejiang Taimei Medical Technology Co Annual Data

Trend

Dec21

Dec22

Dec23

Receivables Turnover

4.62

4.58

4.13

Zhejiang Taimei Medical Technology Co Quarterly Data
	Dec21	Dec22	Mar23	Dec23	Mar24
Receivables Turnover	-	-	1.02	-	0.90

Competitive Comparison of Zhejiang Taimei Medical Technology Co's Receivables Turnover

For the Health Information Services subindustry, Zhejiang Taimei Medical Technology Co'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.

Zhejiang Taimei Medical Technology Co's Receivables Turnover Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Zhejiang Taimei Medical Technology Co's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Zhejiang Taimei Medical Technology Co's Receivables Turnover falls into.

Zhejiang Taimei Medical Technology Co Receivables Turnover Calculation

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

Zhejiang Taimei Medical Technology Co's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	626.885	/ (	(144.134	+	159.413)	/	2 )
=	626.885	/	151.7735
=	4.13

Zhejiang Taimei Medical Technology Co's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	143.449	/ (	(159.413	+	158.194)	/	2 )
=	143.449	/	158.8035
=	0.90

Zhejiang Taimei Medical Technology Co (HKSE:02576) 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.

Zhejiang Taimei Medical Technology Co Receivables Turnover Related Terms

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Zhejiang Taimei Medical Technology Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Zhejiang Taimei Medical Technology Co Ltd (HKSE:02576) » Definitions » Receivables Turnover

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Traded in Other Exchanges

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Address

36 Changsheng South Road, 3rd Floor, Building 9, Smart Industry Innovation Park, Zhejiang, Jiaxing, CHN

Website

https://www.taimei.com

Zhejiang Taimei Medical Technology Co Ltd is a digital solution provider focused on the pharmaceutical and medical device industry in China, It designs and delivers industry-specific software and digital services that facilitate the research and development (R&D) as well as the commercialization of pharmaceuticals and medical devices. The software It offers is cloud-based, allowing users to access it from various devices at any time over the internet, without the need for software installation and maintenance on their devices. These cloud-based software covers critical use cases in R&D and commercialization of innovative drugs and medical devices.

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