Honma Golf (HKSE:06858) Accounts Receivable : HK$182 Mil (As of Sep. 2023)

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What is Honma Golf Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Honma Golf's accounts receivables for the quarter that ended in Sep. 2023 was HK$182 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Honma Golf's Days Sales Outstanding for the quarter that ended in Sep. 2023 was 47.46.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Honma Golf's Net-Net Working Capital per share for the quarter that ended in Sep. 2023 was HK$0.96.

Honma Golf Accounts Receivable Historical Data

The historical data trend for Honma Golf'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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Honma Golf Accounts Receivable Chart

Honma Golf Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Accounts Receivable

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693.66

641.00

442.70

349.37

200.58

Honma Golf Semi-Annual Data
	Mar14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Accounts Receivable	Get a 7-Day Free Trial														279.73	349.37	180.01	200.58	181.70

Honma Golf Accounts Receivable Calculation

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

Honma Golf 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.

Honma Golf's Days Sales Outstanding for the quarter that ended in Sep. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	181.695	/	698.676	*	91
=	47.46

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

Honma Golf's Net-Net Working Capital Per Share for the quarter that ended in Sep. 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)
=	(882.157	+	0.75 * 181.695	+	0.5 * 592.875	-	737.47
-	0	-	-2.408)	/	605.643
=	0.96

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.

Honma Golf Accounts Receivable Related Terms

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Honma Golf (HKSE:06858) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Honma Golf Ltd (HKSE:06858) » Definitions » Accounts Receivable

Comparable Companies

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Address

35th Floor, Roppongi Hills, Mori Tower, P.O. Box No. 62, 6-10-1, Roppongi, Minatoku, Tokyo, JPN

Website

https://www.honmagolf.com

Honma Golf Ltd is an investment holding company. It is engaged in the design, manufacturing, and sale of golf-related products and the rendering of services relating to such products. Geographically, it derives a majority of revenue from Japan and also has a presence in Korea, China, North America, Europe, and the Rest of the world. The group currently offers golf clubs mainly under three major product families, namely BERES, TOUR WORLD and Be ZEAL.

Executives

Huang Wenhuan	2202 Interest of your spouse
Liu Jianguo	2307 Founder of a discretionary trust who can infl
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Splendid Steed Investments Limited	2201 Interest of corporation controlled by you
Ma Jianrong	2201 Interest of corporation controlled by you
Vistra Trust (hong Kong) Limited	2301 Trustee
Charoen Pokphand Group Company Limited	2201 Interest of corporation controlled by you
Dazzling Coast Limited	2201 Interest of corporation controlled by you
Prize Ray Limited	2201 Interest of corporation controlled by you
Itochu Corporation	2101 Beneficial owner
Yuanta Financial Holding Co., Ltd	2201 Interest of corporation controlled by you

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