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. Snap-on's Revenue for the
three
months ended in Mar. 2024 was $1,282 Mil. Snap-on's average Accounts Receivable for the
three
months ended in Mar. 2024 was $809 Mil.
Hence, Snap-on's Receivables Turnover for the
three
months ended in Mar. 2024 was 1.58.
Snap-on Receivables Turnover Historical Data
The historical data trend for Snap-on'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.
Competitive Comparison of Snap-on's Receivables Turnover
For the Tools & Accessories subindustry, Snap-on'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.
Snap-on's Receivables Turnover Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Snap-on's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where Snap-on's Receivables Turnover falls into.
Snap-on Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
Snap-on's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
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.
Snap-on Receivables Turnover Related Terms
Thank you for viewing the detailed overview of Snap-on's Receivables Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Snap-on manufactures premium tools and software for repair professionals. Hand tools are sold through franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique element of its business model is that franchisees bear significant risk, as they must invest in the mobile van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an individual tool basis. Snap-on currently operates three segments: repair systems and information, commercial and industrial, and tools. Its finance arm provides financing to franchisees to run their operations, which includes offering loans and leases for mobile vans.
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