Sorrento Therapeutics (LTS:0L85) Receivables Turnover : 0.51 (As of Jun. 2023)

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What is Sorrento Therapeutics 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. Sorrento Therapeutics's Revenue for the three months ended in Jun. 2023 was $15.03 Mil. Sorrento Therapeutics's average Accounts Receivable for the three months ended in Jun. 2023 was $29.62 Mil. Hence, Sorrento Therapeutics's Receivables Turnover for the three months ended in Jun. 2023 was 0.51.

Sorrento Therapeutics Receivables Turnover Historical Data

The historical data trend for Sorrento Therapeutics'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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Sorrento Therapeutics Receivables Turnover Chart

Sorrento Therapeutics Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Receivables Turnover

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7.01

3.44

2.67

3.09

2.91

Sorrento Therapeutics Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Receivables Turnover	Get a 7-Day Free Trial															0.46	0.71	0.64	0.64	0.51

Competitive Comparison of Sorrento Therapeutics's Receivables Turnover

For the Biotechnology subindustry, Sorrento Therapeutics'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.

Sorrento Therapeutics's Receivables Turnover Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Sorrento Therapeutics's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Sorrento Therapeutics's Receivables Turnover falls into.

Sorrento Therapeutics Receivables Turnover Calculation

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

Sorrento Therapeutics's Receivables Turnover for the fiscal year that ended in Dec. 2022 is calculated as

	Receivables Turnover (A: Dec. 2022 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2022 )	/ (	(Accounts Receivable (A: Dec. 2021 )	+	Accounts Receivable (A: Dec. 2022 ))	/	count )
=	62.839	/ (	(18.715	+	24.469)	/	2 )
=	62.839	/	21.592
=	2.91

Sorrento Therapeutics's Receivables Turnover for the quarter that ended in Jun. 2023 is calculated as

	Receivables Turnover (Q: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Jun. 2023 )	/ (	(Accounts Receivable (Q: Mar. 2023 )	+	Accounts Receivable (Q: Jun. 2023 ))	/	count )
=	15.025	/ (	(26.524	+	32.725)	/	2 )
=	15.025	/	29.6245
=	0.51

Sorrento Therapeutics (LTS:0L85) 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.

Sorrento Therapeutics Receivables Turnover Related Terms

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Sorrento Therapeutics (LTS:0L85) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Sorrento Therapeutics Inc (LTS:0L85) » Definitions » Receivables Turnover

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SRNEQ:USA

Address

4955 Directors Place, San Diego, CA, USA, 92121

Website

https://www.sorrentotherapeutics.com

Sorrento Therapeutics Inc is a clinical and commercial-stage biopharmaceutical company developing a portfolio of next-generation treatments for three major therapeutic areas: cancer, infectious disease, and pain. Its multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (G-MAB library), immuno-cellular therapies (DAR-T), antibody-drug conjugates (ADCs), and oncolytic virus (Seprehvec). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVI-AMG, COVIDROPS, COVISHIELD, FUJOVEE (Abivertinib), and OQORY (Covi-MSC), and diagnostic test solutions, including COVITRACK and COVIMARK.

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