Hongli Group (Hongli Group) Receivables Turnover : 1.13 (As of Dec. 2023)

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What is Hongli 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. Hongli Group's Revenue for the six months ended in Dec. 2023 was $7.08 Mil. Hongli Group's average Accounts Receivable for the six months ended in Dec. 2023 was $6.25 Mil. Hence, Hongli Group's Receivables Turnover for the six months ended in Dec. 2023 was 1.13.

Hongli Group Receivables Turnover Historical Data

The historical data trend for Hongli 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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Hongli Group Receivables Turnover Chart

Hongli Group Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

4.10

4.19

5.38

3.26

2.38

Hongli Group Semi-Annual Data
	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Receivables Turnover	Get a 7-Day Free Trial				2.28	1.83	1.41	1.28	1.13

Competitive Comparison of Hongli Group's Receivables Turnover

For the Steel subindustry, Hongli 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.

Hongli Group's Receivables Turnover Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Hongli Group's Receivables Turnover distribution charts can be found below:

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

Hongli Group Receivables Turnover Calculation

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

Hongli Group'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 )
=	15.998	/ (	(7.43	+	6.014)	/	2 )
=	15.998	/	6.722
=	2.38

Hongli 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 )
=	7.083	/ (	(6.476	+	6.014)	/	2 )
=	7.083	/	6.245
=	1.13

Hongli Group (NAS:HLP) 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.

Hongli Group Receivables Turnover Related Terms

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Hongli Group (Hongli Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Hongli Group Inc (NAS:HLP) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

Beisanli Street, Economic Development Zone, Changle County, Weifang, Shandong, CHN, 262400

Website

https://www.hlyxgg.com

Hongli Group Inc is a cold roll formed steel profile manufacturer in China. It customizes and manufactures cold roll formed steel profiles for machinery and equipment in a variety of sectors, including but not limited to mining and excavation, construction, agriculture and transportation.

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