TAG Oil (TAG Oil) Receivables Turnover : 0.27 (As of Sep. 2023)

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What is TAG Oil 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. TAG Oil's Revenue for the three months ended in Sep. 2023 was $0.19 Mil. TAG Oil's average Accounts Receivable for the three months ended in Sep. 2023 was $0.72 Mil. Hence, TAG Oil's Receivables Turnover for the three months ended in Sep. 2023 was 0.27.

TAG Oil Receivables Turnover Historical Data

The historical data trend for TAG Oil'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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TAG Oil Receivables Turnover Chart

TAG Oil Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Receivables Turnover

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8.91

6.12

TAG Oil Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Receivables Turnover	Get a 7-Day Free Trial															-	-	-	0.36	0.27

Competitive Comparison of TAG Oil's Receivables Turnover

For the Oil & Gas E&P subindustry, TAG Oil'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.

TAG Oil's Receivables Turnover Distribution in the Oil & Gas Industry

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

* The bar in red indicates where TAG Oil's Receivables Turnover falls into.

TAG Oil Receivables Turnover Calculation

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

TAG Oil's Receivables Turnover for the fiscal year that ended in Mar. 2023 is calculated as

	Receivables Turnover (A: Mar. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Mar. 2023 )	/ (	(Accounts Receivable (A: Mar. 2022 )	+	Accounts Receivable (A: Mar. 2023 ))	/	count )
=	0	/ (	(0.216	+	0.749)	/	2 )
=	0	/	0.4825
=	N/A

TAG Oil's Receivables Turnover for the quarter that ended in Sep. 2023 is calculated as

	Receivables Turnover (Q: Sep. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Sep. 2023 )	/ (	(Accounts Receivable (Q: Jun. 2023 )	+	Accounts Receivable (Q: Sep. 2023 ))	/	count )
=	0.194	/ (	(0.519	+	0.912)	/	2 )
=	0.194	/	0.7155
=	0.27

TAG Oil (OTCPK:TAOIF) 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.

TAG Oil Receivables Turnover Related Terms

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TAG Oil (TAG Oil) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » TAG Oil Ltd (OTCPK:TAOIF) » Definitions » Receivables Turnover

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T0P:Germany TAO:Canada

Address

1710 - 1050 West Pender Street, Suite 2040, Vancouver, BC, CAN, V6E 3S7

Website

https://www.tagoil.com

TAG Oil Ltd is a Canada-based oil and gas exploration, development, and production company. It operates through three geographical segments namely Canada, New Zealand, and Australia. Geographically, the firm generates a majority of its revenue from New Zealand.