Western Energy Services (TSX:WRG) Receivables Turnover : 1.60 (As of Mar. 2024)

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What is Western Energy Services 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. Western Energy Services's Revenue for the three months ended in Mar. 2024 was C$62.0 Mil. Western Energy Services's average Accounts Receivable for the three months ended in Mar. 2024 was C$38.7 Mil. Hence, Western Energy Services's Receivables Turnover for the three months ended in Mar. 2024 was 1.60.

Western Energy Services Receivables Turnover Historical Data

The historical data trend for Western Energy Services'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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Western Energy Services Receivables Turnover Chart

Western Energy Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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6.85

5.08

6.55

6.61

6.80

Western Energy Services 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															1.65	0.92	1.62	1.67	1.60

Competitive Comparison of Western Energy Services's Receivables Turnover

For the Oil & Gas Drilling subindustry, Western Energy Services'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.

Western Energy Services's Receivables Turnover Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Western Energy Services's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Western Energy Services's Receivables Turnover falls into.

Western Energy Services Receivables Turnover Calculation

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

Western Energy Services'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 )
=	233.451	/ (	(35.59	+	33.073)	/	2 )
=	233.451	/	34.3315
=	6.80

Western Energy Services'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 )
=	61.982	/ (	(33.073	+	44.419)	/	2 )
=	61.982	/	38.746
=	1.60

Western Energy Services (TSX:WRG) 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.

Western Energy Services Receivables Turnover Related Terms

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Western Energy Services (TSX:WRG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Western Energy Services Corp (TSX:WRG) » Definitions » Receivables Turnover

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Traded in Other Exchanges

WEEEF:USA

Address

215 - 9th Avenue SW, Suite 1700, Calgary, AB, CAN, T2P 1K3

Website

https://www.wesc.ca

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment. It generates revenue mainly through its Contract drilling operation segment.

Executives

Sime Armoyan	10% Security Holder
Tomer Cohen	Director

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