Neo Performance Materials (TSX:NEO) Receivables Turnover : 1.86 (As of Mar. 2024)

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What is Neo Performance Materials 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. Neo Performance Materials's Revenue for the three months ended in Mar. 2024 was C$165.3 Mil. Neo Performance Materials's average Accounts Receivable for the three months ended in Mar. 2024 was C$89.1 Mil. Hence, Neo Performance Materials's Receivables Turnover for the three months ended in Mar. 2024 was 1.86.

Neo Performance Materials Receivables Turnover Historical Data

The historical data trend for Neo Performance Materials'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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Neo Performance Materials Receivables Turnover Chart

Neo Performance Materials Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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8.59

7.12

9.21

8.96

7.62

Neo Performance Materials Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															1.85	2.20	1.75	1.85	1.86

Competitive Comparison of Neo Performance Materials's Receivables Turnover

For the Specialty Chemicals subindustry, Neo Performance Materials'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.

Neo Performance Materials's Receivables Turnover Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Neo Performance Materials's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Neo Performance Materials's Receivables Turnover falls into.

Neo Performance Materials Receivables Turnover Calculation

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

Neo Performance Materials'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 )
=	766.785	/ (	(110.594	+	90.75)	/	2 )
=	766.785	/	100.672
=	7.62

Neo Performance Materials'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 )
=	165.268	/ (	(90.75	+	87.425)	/	2 )
=	165.268	/	89.0875
=	1.86

Neo Performance Materials (TSX:NEO) 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.

Neo Performance Materials Receivables Turnover Related Terms

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Neo Performance Materials (TSX:NEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Neo Performance Materials Inc (TSX:NEO) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

NOPMF:USA N14:Germany

Address

121 King Street West, Suite 1740, Toronto, ON, CAN, M5H 3T9

Website

https://www.neomaterials.com

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium. Its geographical segments are Asia, North America, Europe, and Others.

Executives

Rahim Suleman

Director, Senior Officer