IGM Financial (TSX:IGM) Receivables Turnover : 2.42 (As of Dec. 2023)

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What is IGM Financial 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. IGM Financial's Revenue for the three months ended in Dec. 2023 was C$795 Mil. IGM Financial's average Accounts Receivable for the three months ended in Dec. 2023 was C$329 Mil. Hence, IGM Financial's Receivables Turnover for the three months ended in Dec. 2023 was 2.42.

IGM Financial Receivables Turnover Historical Data

The historical data trend for IGM Financial'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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IGM Financial Receivables Turnover Chart

IGM Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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8.73

7.51

8.63

8.33

9.05

IGM Financial 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															2.04	2.12	2.26	2.45	2.42

Competitive Comparison of IGM Financial's Receivables Turnover

For the Asset Management subindustry, IGM Financial'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.

IGM Financial's Receivables Turnover Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, IGM Financial's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where IGM Financial's Receivables Turnover falls into.

IGM Financial Receivables Turnover Calculation

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

IGM Financial'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 )
=	3186.368	/ (	(368.806	+	335.552)	/	2 )
=	3186.368	/	352.179
=	9.05

IGM Financial'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 )
=	794.882	/ (	(322.525	+	335.552)	/	2 )
=	794.882	/	329.0385
=	2.42

IGM Financial (TSX:IGM) 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.

IGM Financial Receivables Turnover Related Terms

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IGM Financial (TSX:IGM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » IGM Financial Inc (TSX:IGM) » Definitions » Receivables Turnover

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Traded in Other Exchanges

IGIFF:USA C7G:Germany

Address

447 Portage Avenue, Winnipeg, MB, CAN, R3B 3H5

Website

https://www.igmfinancial.com

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, and Canada Life. IGM has two main operating divisions—asset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management subsidiary)—that provide investment management products and services. IGM had CAD 215.3 billion in assets under management, or AUM, and CAD 35.0 billion in assets under advisement, or AUA, at the end of October 2023. Investment Planning Counsel is now being accounted for as a discontinued operation, having been sold earlier this year, with the deal closed in November 2023.