IDP Education (ASX:IEL) Accounts Receivable : A$150 Mil (As of Dec. 2023)

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What is IDP Education Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. IDP Education's accounts receivables for the quarter that ended in Dec. 2023 was A$150 Mil.

Accounts receivable can be measured by Days Sales Outstanding. IDP Education's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 47.43.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. IDP Education's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was A$-1.70.

IDP Education Accounts Receivable Historical Data

The historical data trend for IDP Education's Accounts Receivable 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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IDP Education Accounts Receivable Chart

IDP Education Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Accounts Receivable

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64.82

65.34

70.20

91.75

156.01

IDP Education Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Accounts Receivable	Get a 7-Day Free Trial												69.68	91.75	110.15	156.01	150.06

IDP Education Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

IDP Education Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

IDP Education's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	150.062	/	577.411	*	91
=	47.43

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), IDP Education's accounts receivable are only considered to be worth 75% of book value:

IDP Education's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(141.912	+	0.75 * 150.062	+	0.5 * 0	-	728.033
-	0	-	0.26)	/	278.336
=	-1.70

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

IDP Education Accounts Receivable Related Terms

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IDP Education (ASX:IEL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » IDP Education Ltd (ASX:IEL) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

IDPUF:USA 03F:Germany

Address

697 Collins Street, Level 10, Docklands, VIC, AUS, 3008

Website

https://www.idp.com

IDP Education is a global leader in English language testing and student placement services, constituting 64% and 27% of fiscal 2022 group revenue, respectively. Additionally, IDP operates English language schools, organizes education events and delivers consultancy services to education institutions, which constitutes the remainder of group revenue. Originally established in Australia as an aid body for Southeast Asia, today IDP operates one of the world's most widely accepted English language tests and one of the world's largest student placement services businesses, predominantly connecting prospective migrants from India and China to Australia, Canada, and the United Kingdom.

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