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. HireQuest's Revenue for the
three
months ended in Dec. 2023 was $9.76 Mil. HireQuest's average Accounts Receivable for the
three
months ended in Dec. 2023 was $47.28 Mil.
Hence, HireQuest's Receivables Turnover for the
three
months ended in Dec. 2023 was 0.21.
HireQuest Receivables Turnover Historical Data
The historical data trend for HireQuest'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.
Competitive Comparison of HireQuest's Receivables Turnover
For the Staffing & Employment Services subindustry, HireQuest'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.
HireQuest's Receivables Turnover Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, HireQuest's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where HireQuest's Receivables Turnover falls into.
HireQuest Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
HireQuest's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
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.
HireQuest Receivables Turnover Related Terms
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HireQuest Inc is a nationwide franchisor of offices providing direct-dispatch, executive search, and commercial staffing solutions in the light industrial and blue-collar segments of the staffing industry and traditional commercial staffing. The company's franchisees provide various types of temporary personnel through two business models operating under the trade names HireQuest Direct, HireQuest, Snelling, DriverQuest, HireQuest Health, Northbound Executive Search, and MRI. The primary source of revenue for the company is royalty fees based on the operation of its franchised offices.
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