1st Source (1st Source) Accounts Receivable : $30.7 Mil (As of Mar. 2024)

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What is 1st Source Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. 1st Source's accounts receivables for the quarter that ended in Mar. 2024 was $30.7 Mil.

Accounts receivable can be measured by Days Sales Outstanding. 1st Source's Days Sales Outstanding for the quarter that ended in Mar. 2024 was 29.76.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. 1st Source's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $-245.54.

1st Source Accounts Receivable Historical Data

The historical data trend for 1st Source'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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1st Source Accounts Receivable Chart

1st Source Annual Data

Trend

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Accounts Receivable

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1st Source Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Accounts Receivable	Get a 7-Day Free Trial															24.87	25.14	28.12	-	30.69

1st Source Accounts Receivable Calculation

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

1st Source 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.

1st Source's Days Sales Outstanding for the quarter that ended in Mar. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	30.685	/	94.071	*	91
=	29.76

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), 1st Source's accounts receivable are only considered to be worth 75% of book value:

1st Source's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 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)
=	(1624.777	+	0.75 * 30.685	+	0.5 * 0	-	7586.288
-	0	-	71.663)	/	24.4777
=	-245.54

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.

1st Source Accounts Receivable Related Terms

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1st Source (1st Source) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » 1st Source Corp (NAS:SRCE) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

100 North Michigan Street, South Bend, IN, USA, 46601

Website

https://www.1stsource.com

1st Source Corp along with its subsidiary offers banking services. The bank provides Commercial, Agricultural, and Real Estate Loans which are given to privately owned business clients mainly located within regional market area, Consumer Services that consists of full range of consumer banking products and services, Trust and Wealth Advisory Services which includes wide range of trust, investment, agency, and custodial services for individual, corporate, and not-for-profit clients, and Specialty Finance Group Services that provide a broad range of comprehensive equipment loan and lease products addressing the financing needs of a broad array of companies.

Executives

Daniel B Fitzpatrick	director	4220 EDISON LAKES PKWY, C/O QUALITY DINING INC, MISHAWAKA IN 46545
Mark D Schwabero	director	BRUNSWICK CORPORATION, 1 N FIELD COURT, LAKE FOREST IL 60045
Isaac P. Torres	director	P O BOX 1602, SOUTH BEND IN 46634
Brett A. Bauer	officer: Treasurer and CFO	P O BOX 1602, SOUTH BEND IN 46634
Andrea G Short	officer: Treasurer and CFO	PO BOX 1602, SOUTH BEND IN 46634
Weybright Ronda Shrewsbury	director	P O BOX 1602, SOUTH BEND IN 46634
Tracy D Graham	director	PO BOX 1602, SOUTH BEND IN 46634
John T Phair	director	P.O. BOX 1602, SOUTH BEND IN 46634
Melody Birmingham-byrd	director	PO BOX 1602, SOUTH BEND IN 46634
Todd F. Schurz	director	P O BOX 1602, SOUTH BEND IN 46634
Murphy Christopher J Iii	director, officer: Chairman, CEO	P O BOX 1602, SOUTH BEND IN 46634
Carmen C Murphy	10 percent owner	1237 EAST JEFFERSON BOULEVARD, SOUTH BEND IN 46617
John B Griffith	officer: Sr. VP/Secy. 1st Source Bank	P O BOX 1602, SOUTH BEND IN 46634
John Afleck-graves	director	3820 EDISON LAKES PARKWAY, MISHAWAKA IN 46545
Jeffrey L Buhr	officer: Senior Vice President	PO BOX 1602, SOUTH BEND IN 46634