Analysis of Bad Debts
Allowance for doubtful accounts receivable (bad debts) is a contra account which reduce the balance of the company gross accounts receivable. The relationship between the allowance and the balance in receivables should be relatively constant unless there is a change in the economy overall or a change in customer base.
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- Income Statement
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Allowance for Doubtful Accounts Receivable
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Allowance as a percentage of accounts receivable and accrued receivables, gross = 100 × Allowance for expected credit loss ÷ Accounts receivable and accrued receivables, gross
= 100 × ÷ =
- Allowance for Expected Credit Loss
- The allowance showed no recorded amount in 2019, but it was established at 100 thousand USD in 2020 and maintained at this level in 2021. In 2022, the allowance doubled to 200 thousand USD and remained steady at this value through 2023.
- Accounts Receivable and Accrued Receivables, Gross
- The gross accounts receivable exhibited variability over the period. It started at 62,995 thousand USD in 2019, decreased in 2020 to 48,316 thousand USD, then more than doubled in 2021 to 95,317 thousand USD. The upward trend continued with further increases to 104,183 thousand USD in 2022 and 129,171 thousand USD in 2023.
- Allowance as a Percentage of Accounts Receivable and Accrued Receivables, Gross
- This percentage was not reported in 2019. In 2020, it was 0.21%, followed by a decline to 0.10% in 2021. It then increased to 0.19% in 2022 before slightly decreasing to 0.15% in 2023. This pattern indicates variation in the relative level of expected credit losses compared to the gross receivables, with a notable dip in 2021 despite the significant increase in receivables that year.