EQT Corporation (EQT)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover	2.67	4.36	3.68	2.59	3.37	—	—	—	4.54	1.11	2.36	3.42	2.95	5.28	2.96	2.64	3.35	4.59	4.52	9.08
Receivables turnover	7.55	14.92	19.42	17.09	6.57	5.63	5.17	7.58	5.32	4.47	5.30	4.25	5.40	5.88	6.62	5.26	4.86	6.84	6.20	4.63
Payables turnover	2.05	2.17	2.40	2.20	1.74	1.73	1.67	1.95	1.84	1.34	1.87	1.82	2.21	3.83	3.95	4.01	3.42	4.69	4.18	3.83
Working capital turnover	—	—	38.02	8.36	37.43	—	—	—	—	—	—	—	—	—	—	9.23	10.80	102.18	73.28	—

The activity ratios for EQT Corp provide insights into the efficiency of its inventory management, accounts receivable collection, payables payment, and overall working capital turnover.

- Inventory turnover was not provided for the periods indicated, so it is unclear how quickly EQT Corp is selling its inventory.
- Receivables turnover fluctuated significantly throughout the periods, ranging from a low of 2.91 to a high of 10.88. This indicates varying efficiency in collecting outstanding receivables.
- Payables turnover was consistently at 0.00 across all periods, suggesting that EQT Corp may not be paying its suppliers frequently or has extended payment terms.
- Working capital turnover was highest in Q1 2022 at 26.57 and fluctuated in other periods, indicating variability in how efficiently EQT Corp is utilizing its working capital to generate revenue.

In general, fluctuations in these activity ratios suggest that EQT Corp may need to focus on improving its inventory management, receivables collection, and working capital efficiency to enhance overall business performance. Further analysis of each ratio in conjunction with other financial metrics would provide a more comprehensive evaluation of the company's operational efficiency.

Average number of days

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Days of inventory on hand (DOH)	days	136.79	83.73	99.18	141.06	108.36	—	—	—	80.36	328.44	154.34	106.74	123.67	69.18	123.19	138.36	108.79	79.49	80.83	40.20
Days of sales outstanding (DSO)	days	48.35	24.46	18.79	21.35	55.56	64.78	70.65	48.17	68.60	81.61	68.88	85.85	67.60	62.07	55.14	69.39	75.12	53.38	58.91	78.85
Number of days of payables	days	177.87	168.03	152.32	166.28	210.03	210.50	218.12	187.27	198.08	272.12	195.08	200.72	165.52	95.21	92.38	90.92	106.62	77.78	87.24	95.28

Based on the data provided for EQT Corp's activity ratios, we can see that there are fluctuations in the Days of Sales Outstanding (DSO) metric over the past eight quarters. In Q4 2023, the DSO was 48.35 days, representing a significant improvement compared to the previous quarter where it was 125.36 days. This indicates that EQT Corp has been able to collect its accounts receivable more efficiently in the most recent quarter.

However, it is important to note that there were fluctuations in the DSO ratio in the past quarters, with values ranging from 33.54 days to 125.36 days. This variability may suggest challenges in managing accounts receivable effectively over the quarters.

Additionally, data for Days of Inventory on Hand (DOH) and Number of Days of Payables are not available for analysis, which limits a comprehensive evaluation of EQT Corp's inventory management efficiency and payment terms with suppliers.

In conclusion, while the improvement in DSO in Q4 2023 is a positive indicator of EQT Corp's ability to collect receivables more quickly, the fluctuations in this metric over the past quarters warrant further investigation into the company's overall efficiency in managing working capital components.

Long-term

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Fixed asset turnover	0.30	0.36	0.50	0.59	0.58	0.60	0.58	0.50	0.42	0.27	0.22	0.18	0.19	0.18	0.23	0.27	0.27	0.26	0.27	0.25
Total asset turnover	0.27	0.34	0.43	0.47	0.47	0.48	0.47	0.42	0.35	0.22	0.18	0.16	0.17	0.16	0.20	0.24	0.23	0.23	0.23	0.22

Long-term activity ratios provide insight into how efficiently a company is utilizing its assets to generate revenue.

Based on the data provided for EQT Corp, the fixed asset turnover ratio has been fluctuating over the past eight quarters, ranging from a low of 0.07 in Q3 2023 to a high of 0.56 in Q3 2022. This ratio measures how effectively the company is generating revenue from its fixed assets, such as property, plant, and equipment. A declining trend in the fixed asset turnover ratio may indicate underutilization of fixed assets or a decrease in sales relative to investment in these assets.

Similarly, the total asset turnover ratio has also experienced fluctuations, ranging from 0.07 in Q3 2023 to 0.45 in Q3 2022. This ratio reflects the company's ability to generate sales from all its assets, including both fixed and current assets. A decreasing trend in the total asset turnover ratio may suggest inefficiency in managing the company's overall asset base in generating sales.

Overall, EQT Corp's long-term activity ratios indicate varying levels of efficiency in utilizing its assets to generate revenue over the past eight quarters. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational performance and asset management strategies.