Prime Financial Group (ASX:PFG) Receivables Turnover : 3.32 (As of Dec. 2023)

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What is Prime Financial Group 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. Prime Financial Group's Revenue for the six months ended in Dec. 2023 was A$18.24 Mil. Prime Financial Group's average Accounts Receivable for the six months ended in Dec. 2023 was A$5.50 Mil. Hence, Prime Financial Group's Receivables Turnover for the six months ended in Dec. 2023 was 3.32.

Prime Financial Group Receivables Turnover Historical Data

The historical data trend for Prime Financial Group'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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Prime Financial Group Receivables Turnover Chart

Prime Financial Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Receivables Turnover

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7.43

8.10

7.64

6.66

6.70

Prime Financial Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															3.69	3.40	3.34	3.51	3.32

Competitive Comparison of Prime Financial Group's Receivables Turnover

For the Asset Management subindustry, Prime Financial Group'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.

Prime Financial Group's Receivables Turnover Distribution in the Asset Management Industry

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

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

Prime Financial Group Receivables Turnover Calculation

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

Prime Financial Group's Receivables Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Receivables Turnover (A: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jun. 2023 )	/ (	(Accounts Receivable (A: Jun. 2022 )	+	Accounts Receivable (A: Jun. 2023 ))	/	count )
=	33.649	/ (	(4.784	+	5.257)	/	2 )
=	33.649	/	5.0205
=	6.70

Prime Financial Group'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: Jun. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	18.237	/ (	(5.257	+	5.74)	/	2 )
=	18.237	/	5.4985
=	3.32

Prime Financial Group (ASX:PFG) 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.

Prime Financial Group Receivables Turnover Related Terms

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Prime Financial Group (ASX:PFG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Prime Financial Group Ltd (ASX:PFG) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

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Address

40 City Road, Level 17, HWT Tower, Southbank, Melbourne, VIC, AUS, 3006

Website

https://www.primefinancial.com.au

Prime Financial Group Ltd is an integrated accounting and business advisory, wealth management, and capital advisory company for business owners and family groups. It offers services accounting and tax compliance, start-up services, SME advisory, director and board services, life insurance, estate planning, lending and finance, transaction and restructuring services, superannuation, and others. Its segments are Accounting and Business Advisory plus Capital and the other to Wealth Management and Self- Managed Superannuation (SMSF). The company generates the majority of its revenue from Accounting and Business Advisory plus Capital.