Cover (COVCF) Receivables Turnover : 4.28 (As of Dec. 2023)

View and export this data going back to 2023. Start your Free Trial

What is Cover 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. Cover's Revenue for the three months ended in Dec. 2023 was $48.3 Mil. Cover's average Accounts Receivable for the three months ended in Dec. 2023 was $11.3 Mil. Hence, Cover's Receivables Turnover for the three months ended in Dec. 2023 was 4.28.

Cover Receivables Turnover Historical Data

The historical data trend for Cover'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.

* Premium members only.

Cover Receivables Turnover Chart

Cover Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

Receivables Turnover

5.71

8.92

7.52

8.49

Cover Quarterly Data
	Mar21	Mar22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial			3.69	2.27	5.40	4.28	4.05

Competitive Comparison of Cover's Receivables Turnover

For the Software - Application subindustry, Cover'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.

Cover's Receivables Turnover Distribution in the Software Industry

For the Software industry and Technology sector, Cover's Receivables Turnover distribution charts can be found below:

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

Cover Receivables Turnover Calculation

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

Cover's Receivables Turnover for the fiscal year that ended in Mar. 2024 is calculated as

	Receivables Turnover (A: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Mar. 2024 )	/ (	(Accounts Receivable (A: Mar. 2023 )	+	Accounts Receivable (A: Mar. 2024 ))	/	count )
=	201.35	/ (	(24.064	+	23.348)	/	2 )
=	201.35	/	23.706
=	8.49

Cover'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 )
=	48.265	/ (	(9.801	+	12.745)	/	2 )
=	48.265	/	11.273
=	4.28

Cover (OTCPK:COVCF) 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.

Cover Receivables Turnover Related Terms

Thank you for viewing the detailed overview of Cover's Receivables Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.

Cover (COVCF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Cover Corp (OTCPK:COVCF) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

5253:Japan

Address

1-7-17 Shiba, Sumitomo Fudosan Shiba No.3 Building B1, Minato-ku, Tokyo, JPN, 105-0014

Website

https://www.cover-corp.com

Cover Corp operates as a platformer for two-dimensional entertainment. It is engaged in developing multifaceted businesses to accelerate 2D entertainment such as distribution system development, VTuber office management, and content development.

Cover (COVCF) Headlines

No Headlines