Worksport (Worksport) Accounts Receivable : $0.16 Mil (As of Mar. 2024)

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What is Worksport Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Worksport's accounts receivables for the quarter that ended in Mar. 2024 was $0.16 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Worksport's Days Sales Outstanding for the quarter that ended in Mar. 2024 was 27.75.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Worksport's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $-0.07.

Worksport Accounts Receivable Historical Data

The historical data trend for Worksport'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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Worksport Accounts Receivable Chart

Worksport Annual Data

Trend

Sep14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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0.12

0.06

0.46

Worksport 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															0.10	0.33	0.52	0.46	0.16

Worksport Accounts Receivable Calculation

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

Worksport 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.

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

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0.156	/	0.513	*	91
=	27.75

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

Worksport'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)
=	(3.537	+	0.75 * 0.156	+	0.5 * 6.54	-	8.39
-	0	-	0)	/	21.188
=	-0.07

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.

Worksport Accounts Receivable Related Terms

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Worksport (Worksport) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Worksport Ltd (NAS:WKSP) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

55G East Beaver Creek Road, Richmond Hill, ON, CAN, L4B 1E5

Website

https://www.worksport.com

Worksport Ltd through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. The company's product includes soft vinyl tonneau covers and hard aluminum tonneau covers.

Executives

Ned L Siegel	director	600 WILSHIRE BOULEVARD, LOS ANGELES CA 90017
William J Caragol	director	1690 SOUTH CONGRESS AVENUE, SUITE 200, DELRAY BEACH FL 33445
Craig William Loverock	director	48 UNION AVE, PORT PERRY A6 L9L 1G2
Michael D Johnston	officer: Chief Financial Officer	340 RICHMOND STREET WEST, TORONTO Z4 MSV 1X2
Lorenzo Rossi	director, officer: Treasurer	1895 CLEMENTS ROAD, SUITE 155, PICKERING A6 M1P 4Y9
Steven Raivio	director, officer: COO, Secretary	8820 JANE STREET, VAUGHAN A6 L4K 2M9
Steven F. Rossi	10 percent owner	1895 CLEMENTS ROAD, PICKERING A6 M1P 4Y9
Truxmart Ltd.	10 percent owner	1895 CLEMENTS ROAD, PICKERING A6 MIP 4Y9
Mathis Family Partners Ltd.	10 percent owner	2560 W. MAIN STREET, SUITE 200, LITTLETON CO 80120
Lazzeri Family Trust, Robert Lazzeri, Trustee	10 percent owner	5046 CHRISTENSEN DRIVE, LITTLETON CO 80123
Earnco M.p.p.p.	10 percent owner	2560 W MAIN ST, STE 200, LITTLETON CO 80120
Lazzeri Equity Partners 401k Plan	10 percent owner	2560 W MAIN STREET, SUITE 200, LITTLETON CO 80120
A. J. Boisdrenghien	director, 10 percent owner, officer: President	5910 SOUTH UNIVERSITY BOULEVARD, C-18, UNIT 165, LITTLETON CO 80121-2800