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Hitek Global (Hitek Global) Receivables Turnover : 0.96 (As of Dec. 2023)


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What is Hitek Global 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. Hitek Global's Revenue for the six months ended in Dec. 2023 was $1.62 Mil. Hitek Global's average Accounts Receivable for the six months ended in Dec. 2023 was $1.69 Mil. Hence, Hitek Global's Receivables Turnover for the six months ended in Dec. 2023 was 0.96.

Hitek Global Receivables Turnover Historical Data

The historical data trend for Hitek Global'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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Hitek Global Receivables Turnover Chart

Hitek Global Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Receivables Turnover
Get a 7-Day Free Trial 2.46 1.76 2.31 2.00 1.58

Hitek Global Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Receivables Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.25 1.01 1.09 1.19 0.96

Competitive Comparison of Hitek Global's Receivables Turnover

For the Software - Application subindustry, Hitek Global'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.

Hitek Global's Receivables Turnover Distribution in the Software Industry

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

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


Hitek Global Receivables Turnover Calculation

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

Hitek Global'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 )
=4.564 / ((3.671 + 2.119) / 2 )
=4.564 / 2.895
=1.58

Hitek Global'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 )
=1.616 / ((1.263 + 2.119) / 2 )
=1.616 / 1.691
=0.96

* 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.

Hitek Global  (NAS:HKIT) 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.

Hitek Global Receivables Turnover Related Terms

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Hitek Global (Hitek Global) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » Hitek Global Inc (NAS:HKIT) » Definitions » Receivables Turnover
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Traded in Other Exchanges
4JX:Germany
Address
No. 30 Guanri Road, Siming District, Unit 304, Fujian Province, Phase II, Software Park, Xiamen, CHN
Website
http://www.xmhitek.com
Hitek Global Inc is a provider of information technology consulting and solutions services. The company has two lines of businesses such as services to small and medium businesses, which consist of Anti-Counterfeiting Tax Control System tax devices, including Golden Tax Disk and printers, ACTCS services, and IT services; and services to large businesses, which include hardware sales and software sales. It generates revenues from hardware sales, software sales, IT services, and tax devices and services.