NYSE Euronext, (XPAR:NYX) Accounts Receivable : €298 Mil (As of Sep. 2013)

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What is NYSE Euronext, Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. NYSE Euronext,'s accounts receivables for the quarter that ended in Sep. 2013 was €298 Mil.

Accounts receivable can be measured by Days Sales Outstanding. NYSE Euronext,'s Days Sales Outstanding for the quarter that ended in Sep. 2013 was 40.91.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. NYSE Euronext,'s Net-Net Working Capital per share for the quarter that ended in Sep. 2013 was €-15.55.

NYSE Euronext, Accounts Receivable Historical Data

The historical data trend for NYSE Euronext,'s Accounts Receivable 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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NYSE Euronext, Accounts Receivable Chart

NYSE Euronext, Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Accounts Receivable

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550.56

452.76

397.66

377.72

308.61

NYSE Euronext, Quarterly Data
	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
Accounts Receivable	Get a 7-Day Free Trial															370.15	308.61	345.08	335.04	298.45

NYSE Euronext, Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

NYSE Euronext, Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

NYSE Euronext,'s Days Sales Outstanding for the quarter that ended in Sep. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	298.452	/	665.72	*	91
=	40.91

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), NYSE Euronext,'s accounts receivable are only considered to be worth 75% of book value:

NYSE Euronext,'s Net-Net Working Capital Per Share for the quarter that ended in Sep. 2013 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(326.876	+	0.75 * 298.452	+	0.5 * 0	-	4312.968
-	0	-	15.708)	/	243
=	-15.55

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

NYSE Euronext, Accounts Receivable Related Terms

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NYSE Euronext, (XPAR:NYX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » NYSE Euronext, Inc. (XPAR:NYX) » Definitions » Accounts Receivable

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Address

Website

http://www.nyse.com

NYSE Euronext, Inc., a Delaware corporation, was organized on May 22, 2006 in anticipation of the combination of the businesses of NYSE Group, Inc., a Delaware corporation, and Euronext N.V., a company organized under the laws of the Netherlands. The Company is a global operator of financial markets and provider of trading solutions. The Company offers an array of products and services in cash equities, futures, options, swaps, exchange-traded products, bonds, clearing operations, market data, commercial technology solutions and carbon trading, all designed to meet the evolving needs of investors, issuers, financial institutions and market participants. The Company consists of three business segments: Derivatives; Cash Trading and Listings; and Information Services and Technology Solutions. Derivatives segment is comprised of derivatives trading and clearing businesses and includes its subsidiaries NYSE Liffe, NYSE Liffe Clearing, NYSE Liffe US, NYSE Amex Options, NYSE Arca Options and joint venture NYPC as well as its related derivatives market data business. Cash Trading and Listings segment consists of cash trading and listings businesses and includes its subsidiaries the NYSE, Euronext, NYSE Amex, NYSE Arca, NYSE Alternext, NYSE Arca Europe and SmartPool, as well as NYSE Blue and Interbolsa, and its related cash trading market data business. Information Services and Technology Solutions segment refers to its commercial technology transactions, data and infrastructure businesses. The Company operates a commercial technology business, NYSE Technologies Inc., and also owns NYFIX, Inc., a provider of solutions that aims to optimize trading efficiency. NYSE Technologies provides comprehensive transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities. NYSE Technologies' integrated solutions power the trading operations of global financial institutions and exchanges, including non-NYSE Euronext markets in addition to all the exchanges in the NYSE Euronext group. NYSE Technologies operates five businesses: Global Market Data, which offers an array of global market information products covering multiple asset classes; Trading Solutions, which creates and implements high performance, end-to-end messaging software and real-time market data distribution and integration products; Exchange Solutions, which provides multi-asset exchange platform services, managed services and expert consultancy; Global Connectivity, which offers a financial transaction network connecting firms and exchanges worldwide; and Transaction Services, which mainly comprises the former NYFIX FIX business, and which incorporates the NYFIX Marketplace and FIX Software businesses. NYSE Liffe US, NYSE Arca and NYSE Amex face considerable competition in derivatives trading. Their main U.S. competitors are the CME Group Inc., Chicago Board Options Exchange, Inc., the International Securities Exchange Holdings, Inc

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