Major Drilling Group International (TSX:MDI) Receivables Turnover : 1.54 (As of Oct. 2023)

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What is Major Drilling Group International 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. Major Drilling Group International's Revenue for the three months ended in Oct. 2023 was C$207.0 Mil. Major Drilling Group International's average Accounts Receivable for the three months ended in Oct. 2023 was C$134.5 Mil. Hence, Major Drilling Group International's Receivables Turnover for the three months ended in Oct. 2023 was 1.54.

Major Drilling Group International Receivables Turnover Historical Data

The historical data trend for Major Drilling Group International'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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Major Drilling Group International Receivables Turnover Chart

Major Drilling Group International Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Receivables Turnover

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4.36

5.12

4.96

5.31

5.25

Major Drilling Group International Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Receivables Turnover	Get a 7-Day Free Trial															1.27	1.59	1.46	1.54	0.98

Competitive Comparison of Major Drilling Group International's Receivables Turnover

For the Other Industrial Metals & Mining subindustry, Major Drilling Group International'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.

Major Drilling Group International's Receivables Turnover Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Major Drilling Group International's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Major Drilling Group International's Receivables Turnover falls into.

Major Drilling Group International Receivables Turnover Calculation

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

Major Drilling Group International's Receivables Turnover for the fiscal year that ended in Apr. 2023 is calculated as

	Receivables Turnover (A: Apr. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Apr. 2023 )	/ (	(Accounts Receivable (A: Apr. 2022 )	+	Accounts Receivable (A: Apr. 2023 ))	/	count )
=	735.742	/ (	(142.621	+	137.633)	/	2 )
=	735.742	/	140.127
=	5.25

Major Drilling Group International's Receivables Turnover for the quarter that ended in Oct. 2023 is calculated as

	Receivables Turnover (Q: Oct. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Oct. 2023 )	/ (	(Accounts Receivable (Q: Jul. 2023 )	+	Accounts Receivable (Q: Oct. 2023 ))	/	count )
=	206.951	/ (	(133.986	+	134.915)	/	2 )
=	206.951	/	134.4505
=	1.54

Major Drilling Group International (TSX:MDI) 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.

Major Drilling Group International Receivables Turnover Related Terms

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Major Drilling Group International (TSX:MDI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Major Drilling Group International Inc (TSX:MDI) » Definitions » Receivables Turnover

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MJDLF:USA 3MJ:Germany

Address

111 St. George Street, Suite 100, Moncton, NB, CAN, E1C 1T7

Website

https://www.majordrilling.com

Major Drilling Group International Inc is engaged in the business of contract drilling, and it provides services to companies that are involved in mining and mineral exploration. It offers surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, and underground percussive/long-hole drilling services, as well as various drilling-related mine services. Its geographical segments are Canada - the United States; South and Central America; and Australasia and Africa, of which most of its revenue comes from Canada - the United States.

Major Drilling Group International (TSX:MDI) Headlines

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