Comet Industries (TSXV:CMU) Receivables Turnover : 1.53 (As of Jan. 2024)

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What is Comet Industries 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. Comet Industries's Revenue for the three months ended in Jan. 2024 was C$0.03 Mil. Comet Industries's average Accounts Receivable for the three months ended in Jan. 2024 was C$0.02 Mil. Hence, Comet Industries's Receivables Turnover for the three months ended in Jan. 2024 was 1.53.

Comet Industries Receivables Turnover Historical Data

The historical data trend for Comet Industries'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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Comet Industries Receivables Turnover Chart

Comet Industries Annual Data

Trend

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Jan24

Receivables Turnover

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79.38

34.44

47.22

Comet Industries Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Receivables Turnover	Get a 7-Day Free Trial															-	-	-	2.16	1.53

Competitive Comparison of Comet Industries's Receivables Turnover

For the Real Estate Services subindustry, Comet Industries'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.

Comet Industries's Receivables Turnover Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Comet Industries's Receivables Turnover distribution charts can be found below:

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

Comet Industries Receivables Turnover Calculation

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

Comet Industries's Receivables Turnover for the fiscal year that ended in Jan. 2024 is calculated as

	Receivables Turnover (A: Jan. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jan. 2024 )	/ (	(Accounts Receivable (A: Jan. 2023 )	+	Accounts Receivable (A: Jan. 2024 ))	/	count )
=	0.353	/ (	(0	+	0)	/	1 )
=	0.353	/	0
=	N/A

Comet Industries's Receivables Turnover for the quarter that ended in Jan. 2024 is calculated as

	Receivables Turnover (Q: Jan. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Jan. 2024 )	/ (	(Accounts Receivable (Q: Oct. 2023 )	+	Accounts Receivable (Q: Jan. 2024 ))	/	count )
=	0.029	/ (	(0.019	+	0)	/	1 )
=	0.029	/	0.019
=	1.53

Comet Industries (TSXV:CMU) 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.

Comet Industries Receivables Turnover Related Terms

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Comet Industries (TSXV:CMU) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Comet Industries Ltd (TSXV:CMU) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

1177 West Hastings Street, Suite 1610, Vancouver, BC, CAN, V6E 2K3

Website

Comet Industries Ltd is an exploration-stage company. Principally, it is engaged in the business of acquiring and holding mineral properties, and holding and managing real properties, in British Columbia. The company owns unimproved land in Kamloops, Terrace, Pender Harbor and a rental property in Vancouver, British Columbia on a freehold basis. Its segment includes Rental, Exploration, and General or administration. The company generates maximum revenue from the Rental segment. It owns an interest in the big onion zone on the iron mask property, which consists of approximately five crown granted mineral claims.

Executives

Jesus Alfonso

Director