What does US — accounts receivable sold mean?

The total value of customer invoices sold to third parties.

How do you interpret US — accounts receivable sold?

An increase indicates a greater reliance on factoring to manage working capital and liquidity.

How does US — accounts receivable sold compare across companies?

Commonly reported by companies with significant trade receivables and active working capital management programs.

Commercial Metals CMC US — Accounts Receivable Sold

Discontinued — last reported Q4 '18

Similar metrics at other companies

MKCAccounts Receivable, Amount Sold

$390M+51.5%

TEXAccounts Receivable Derecognized

$702M-1.8%

ACR

ACRNorth America — Financing Receivable Sale

$8.3M+300%

GEVSale of current customer receivables

$298M-20.1%

RRXAccount receivables in the securitization facility sold

$416.43M—

JBLNon Us — Trade Account Receivable Sold

$373.5M—

Other financials

Income statement

See full

Revenue$2.1B+21.5%

Gross profit$387.9M+76.7%

Net income$93.0M+265%

EPS (diluted)$0.83+277%

Balance sheet

See full

Cash & equivalents$503.6M-33.7%

Total debt$3.9B+211%

Total equity$4.4B+9.8%

Total assets$9.6B+42.9%

Cash flow

See full

Operating cash flow$166.3M+413%

CapEx$122.7M+42.2%

Free cash flow$43.6M—

Valuation

See full

Market cap$8.02B+47.7%

Enterprise value$11.38B+91.9%

P/E15.9×-58.4×

P/S1×+0.3×

Profitability

See full

Gross margin17.7%+2.4pp

Net margin6%+5.1pp

FCF margin4.7%—

Returns & leverage

See full

Return on equity12%+10.2pp

Debt / equity0.9×+0.6×

Current ratio2.4×-0.4×

Where this comes from

Reported directly by Commercial Metals in its filing.

Tagged under the XBRL concept cmc:AccountsReceivableSold.

The official record: Commercial Metals’s 10-K, filed October 25, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does US — accounts receivable sold mean?: The total value of customer invoices sold to third parties.
How do you interpret US — accounts receivable sold?: An increase indicates a greater reliance on factoring to manage working capital and liquidity.
How does US — accounts receivable sold compare across companies?: Commonly reported by companies with significant trade receivables and active working capital management programs.