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Focus Media Holding Ltd. Message Board

  • paultradestoday paultradestoday Nov 18, 2008 10:39 AM Flag

    Receivables turnover analysis

    AR turnover is Net credit sales/avg AR. The higher the ratio the closer to a cash basis. Lower ratios require management attention. So lets look at a few comparisons. I got this info from "Money".

    Ad Agencies Industry 2.4 (over all very low);
    S&P 500 13.9 (as expected);
    China exposure:
    FMCN 2.9;
    VISN 2.8;
    AMCN 4.4;
    CCO 3.9;
    SINA 4.7;
    SOHU 9.2;
    WW exposure:
    MWW 3.7;
    GOOG 9.4;
    YHOO 7.4;
    VCLK 6.3;

    Yup, FMCN needs to work on the collections side. But, it is competitive with VISN and the industry as a whole. I think there will be improvement with the CGEN restructuring. Let's see what these ratios look like In Feb 09.

 

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