2 Cheap Cars Group (NZSE:2CC) Receivables Turnover : 31.45 (As of Mar. 2024)

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What is 2 Cheap Cars Group Receivables Turnover?

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. 2 Cheap Cars Group's Revenue for the six months ended in Mar. 2024 was NZ$44.38 Mil. 2 Cheap Cars Group's average Accounts Receivable for the six months ended in Mar. 2024 was NZ$1.41 Mil. Hence, 2 Cheap Cars Group's Receivables Turnover for the six months ended in Mar. 2024 was 31.45.

2 Cheap Cars Group Receivables Turnover Historical Data

The historical data trend for 2 Cheap Cars Group'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.

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2 Cheap Cars Group Receivables Turnover Chart

2 Cheap Cars Group Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

Receivables Turnover

303.36

188.64

164.63

151.50

2 Cheap Cars Group Semi-Annual Data
	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24
Receivables Turnover	Get a 7-Day Free Trial			18.06	22.69	23.28	30.38	31.45

Competitive Comparison of 2 Cheap Cars Group's Receivables Turnover

For the Auto & Truck Dealerships subindustry, 2 Cheap Cars Group'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.

2 Cheap Cars Group's Receivables Turnover Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, 2 Cheap Cars Group's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where 2 Cheap Cars Group's Receivables Turnover falls into.

2 Cheap Cars Group Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

2 Cheap Cars Group's Receivables Turnover for the fiscal year that ended in Mar. 2024 is calculated as

	Receivables Turnover (A: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Mar. 2024 )	/ (	(Accounts Receivable (A: Mar. 2023 )	+	Accounts Receivable (A: Mar. 2024 ))	/	count )
=	86.281	/ (	(0.538	+	0.601)	/	2 )
=	86.281	/	0.5695
=	151.50

2 Cheap Cars Group's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Sep. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	44.378	/ (	(2.221	+	0.601)	/	2 )
=	44.378	/	1.411
=	31.45

2 Cheap Cars Group (NZSE:2CC) Receivables Turnover Explanation

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.

2 Cheap Cars Group Receivables Turnover Related Terms

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2 Cheap Cars Group (NZSE:2CC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » 2 Cheap Cars Group Ltd (NZSE:2CC) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Mays Road, Onehunga, Auckland, NTL, NZL, 1061

Website

https://www.2cheapcars.co.nz

2 Cheap Cars Group Ltd is an integrated automotive group operating throughout New Zealand via two divisions: Automotive Retail and Finance. The 2 Cheap Cars Group draws revenue from the two divisions: automotive retail division, revenue is primarily from the sale of vehicles and from agent commissions relating to third-party finance and insurance products. NZ Motor Finance (NZMF) generates finance income from lending to customers who are financing vehicles, and from selling guaranteed asset protection insurance (GAP) and payment protection insurance (PPI) products.

2 Cheap Cars Group (NZSE:2CC) Headlines

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