MGI Tech Co (SHSE:688114) Receivables Turnover : 0.78 (As of Mar. 2024)

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What is MGI Tech 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. MGI Tech Co's Revenue for the three months ended in Mar. 2024 was ¥531 Mil. MGI Tech Co's average Accounts Receivable for the three months ended in Mar. 2024 was ¥684 Mil. Hence, MGI Tech Co's Receivables Turnover for the three months ended in Mar. 2024 was 0.78.

MGI Tech Co Receivables Turnover Historical Data

The historical data trend for MGI Tech 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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MGI Tech Co Receivables Turnover Chart

MGI Tech Co Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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1.99

3.77

5.58

7.78

4.52

MGI Tech Co Quarterly Data
	Dec17	Dec18	Dec19	Jun20	Sep20	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial													1.04	1.27	1.08	1.01	0.78

Competitive Comparison of MGI Tech Co's Receivables Turnover

For the Medical Devices subindustry, MGI Tech 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.

MGI Tech Co's Receivables Turnover Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, MGI Tech Co's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where MGI Tech Co's Receivables Turnover falls into.

MGI Tech Co Receivables Turnover Calculation

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

MGI Tech 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 )
=	2911.222	/ (	(593.438	+	695.776)	/	2 )
=	2911.222	/	644.607
=	4.52

MGI Tech 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 )
=	530.736	/ (	(695.776	+	673.12)	/	2 )
=	530.736	/	684.448
=	0.78

MGI Tech Co (SHSE:688114) 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.

MGI Tech Co Receivables Turnover Related Terms

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MGI Tech Co (SHSE:688114) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » MGI Tech Co Ltd (SHSE:688114) » Definitions » Receivables Turnover

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Address

Beishan Industrial Zone, 2nd Floor, Comprehensive Building and Building 11, Yantian District, Guangdong Province, Shenzhen, CHN, 518083

Website

http://www.mgi-tech.com

MGI Tech Co Ltd is a producer of clinical high-throughput gene sequencers, and its multi-omics platforms include genetic sequencing, medical imaging, and laboratory automation. It provides real-time, panoramic, and full-life-cycle equipment and systems for precision medicine, precision agriculture, precision healthcare and other relevant industries.

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