Westgate Energy (TSXV:WGT) Receivables Turnover : 2.74 (As of Dec. 2024)

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What is Westgate Energy 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. Westgate Energy's Revenue for the three months ended in Dec. 2024 was C$1.25 Mil. Westgate Energy's average Accounts Receivable for the three months ended in Dec. 2024 was C$0.46 Mil. Hence, Westgate Energy's Receivables Turnover for the three months ended in Dec. 2024 was 2.74.

Westgate Energy Receivables Turnover Historical Data

The historical data trend for Westgate Energy'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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Westgate Energy Receivables Turnover Chart

Westgate Energy Annual Data

Trend

Dec22

Dec23

Receivables Turnover

30.17

13.95

Westgate Energy Quarterly Data
	Dec22	Jun23	Sep23	Dec23	Jun24	Sep24	Dec24
Receivables Turnover	Get a 7-Day Free Trial			-	2.37	2.70	1.62	2.74

Competitive Comparison of Westgate Energy's Receivables Turnover

For the Oil & Gas Drilling subindustry, Westgate Energy'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.

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

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

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

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Westgate Energy Receivables Turnover Calculation

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

Westgate Energy'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 )
=	1.2	/ (	(0.006	+	0.166)	/	2 )
=	1.2	/	0.086
=	13.95

Westgate Energy's Receivables Turnover for the quarter that ended in Dec. 2024 is calculated as

	Receivables Turnover (Q: Dec. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2024 )	/ (	(Accounts Receivable (Q: Sep. 2024 )	+	Accounts Receivable (Q: Dec. 2024 ))	/	count )
=	1.246	/ (	(0.56	+	0.351)	/	2 )
=	1.246	/	0.4555
=	2.74

Westgate Energy (TSXV:WGT) 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.

Westgate Energy Receivables Turnover Related Terms

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Westgate Energy Business Description

Industry

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Traded in Other Exchanges

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Address

2020 4th Street SW, Suite 420, Calgary, AB, CAN, T2S 1W3

Website

https://www.westgateenergy.ca

Westgate Energy Inc is focused on the emerging Mannville Stack fairway located in East-Central Alberta and West Central Saskatchewan, where known accumulations of medium and heavy oil are being unlocked via the application of modern drilling techniques utilizing multi-lateral horizontal drilling. The application of these modernized multi-lateral drilling techniques has yielded some of the strongest oil well economics throughout Western Canada.

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