Midea Group Co (SZSE:000333) Receivables Turnover : 2.37 (As of Dec. 2023)

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What is Midea Group 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. Midea Group Co's Revenue for the three months ended in Dec. 2023 was ¥81,330 Mil. Midea Group Co's average Accounts Receivable for the three months ended in Dec. 2023 was ¥34,318 Mil. Hence, Midea Group Co's Receivables Turnover for the three months ended in Dec. 2023 was 2.37.

Midea Group Co Receivables Turnover Historical Data

The historical data trend for Midea Group 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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Midea Group Co Receivables Turnover Chart

Midea Group Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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14.68

13.72

14.42

13.08

12.23

Midea Group Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															2.48	3.03	2.81	2.62	2.37

Competitive Comparison of Midea Group Co's Receivables Turnover

For the Furnishings, Fixtures & Appliances subindustry, Midea Group 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.

Midea Group Co's Receivables Turnover Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Midea Group Co's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Midea Group Co's Receivables Turnover falls into.

Midea Group Co Receivables Turnover Calculation

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

Midea Group 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 )
=	373709.804	/ (	(28237.973	+	32884.739)	/	2 )
=	373709.804	/	30561.356
=	12.23

Midea Group Co's Receivables Turnover for the quarter that ended in Dec. 2023 is calculated as

	Receivables Turnover (Q: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2023 )	/ (	(Accounts Receivable (Q: Sep. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	81330.146	/ (	(35752.203	+	32884.739)	/	2 )
=	81330.146	/	34318.471
=	2.37

Midea Group Co (SZSE:000333) 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.

Midea Group Co Receivables Turnover Related Terms

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Midea Group Co (SZSE:000333) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Midea Group Co Ltd (SZSE:000333) » Definitions » Receivables Turnover

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Traded in Other Exchanges

N/A

Address

No. 6 Midea Avenue, Beijiao Town, Midea Headquarters Building, Shunde District, Guangdong Province, Foshan, CHN, 528311

Website

http://www.midea.com

Midea Group Co., Ltd. is one of the largest household appliance manufacturers in China, producing air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most of the home appliance products. The firm is also involved in industrial automation systems through its 100% stake in Kuka, a leading global player in the industry based in Germany. Heating, ventilation, and air-conditioning, or HVAC, products accounted for 44% of Midea's total revenue in 2022, followed by other consumer appliances (36%) and robotics and automation systems (9%). In addition, more than 40% of the group's sales is ex-China.

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