EQT Corporation (EQT)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Inventory turnover	—	—	—	3.23	2.67	4.36	3.68	2.59	3.37	—	2.02	—	4.54	1.11	2.36	3.42	2.95	5.28	2.96	2.64
Receivables turnover	4.29	8.49	8.27	10.56	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
Payables turnover	2.32	2.48	2.23	2.35	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
Working capital turnover	—	—	—	—	—	—	38.02	8.36	37.43	—	—	—	—	—	—	—	—	—	—	9.23

EQT Corporation's activity ratios can provide insight into how effectively the company manages its assets and liabilities to generate revenue.

1. Inventory Turnover: This ratio measures how many times inventory is sold and replaced within a given period. EQT Corporation's inventory turnover has fluctuated over the years. It ranged from a low of 1.11 in September 2021 to a high of 5.28 in September 2020, indicating variations in the efficiency of managing inventory levels. The company should aim to strike a balance between keeping enough inventory to meet demand without tying up excess capital.

2. Receivables Turnover: This ratio indicates how efficiently the company collects payments from customers. EQT Corporation's receivables turnover has shown significant variability, with a peak of 19.42 in June 2023 and a low of 4.29 in December 2024. A higher turnover suggests faster collection of receivables, which can improve cash flow and reduce the risk of bad debts.

3. Payables Turnover: This ratio measures how quickly the company pays its suppliers. EQT Corporation's payables turnover has remained relatively stable over the years, ranging from 1.34 in September 2021 to 4.01 in March 2020. A lower turnover may indicate a longer time taken to settle payables, potentially affecting relationships with suppliers and liquidity management.

4. Working Capital Turnover: This ratio assesses how efficiently the company utilizes its working capital to generate revenue. EQT Corporation's working capital turnover has shown variability, with a peak of 38.02 in June 2023. A higher turnover implies that the company efficiently utilizes its working capital to support operations and growth.

In conclusion, analyzing activity ratios like inventory turnover, receivables turnover, payables turnover, and working capital turnover can help assess EQT Corporation's operational efficiency and effectiveness in managing assets and liabilities to drive business performance.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Days of inventory on hand (DOH)	days	—	—	—	112.89	136.79	83.73	99.18	141.06	108.36	—	180.76	—	80.36	328.44	154.34	106.74	123.67	69.18	123.19	138.36
Days of sales outstanding (DSO)	days	85.14	42.99	44.15	34.55	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
Number of days of payables	days	157.05	146.93	163.69	155.24	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

Based on the data provided, EQT Corporation's days of inventory on hand (DOH) fluctuated over the years. In the most recent period, as of December 31, 2024, the company had an unspecified number of days of inventory on hand. The highest DOH during the period was 328.44 days on September 30, 2021, indicating that the company may have faced challenges in managing its inventory efficiently.

Regarding days of sales outstanding (DSO), EQT Corporation showed varying trends over the years. The DSO decreased significantly from 85.85 days on March 31, 2021, to 21.35 days on March 31, 2023, before increasing to 85.14 days on December 31, 2024. A lower DSO typically indicates that the company is collecting its accounts receivable more quickly, which is a positive sign.

The number of days of payables also fluctuated over the years. EQT Corporation's payables were managed more efficiently in the most recent period, as of December 31, 2024, with 157.05 days of payables. The company managed to reduce its payables turnover cycle compared to the peak of 272.12 days on September 30, 2021.

Overall, EQT Corporation's activity ratios suggest fluctuations in the management of inventory, accounts receivable, and accounts payable over the years. The company should strive to maintain an optimal balance to ensure efficient working capital management and enhance overall financial performance.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Fixed asset turnover	0.17	0.17	0.24	0.25	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
Total asset turnover	0.13	0.14	0.23	0.22	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

The fixed asset turnover ratio for EQT Corporation has shown fluctuations over the years, starting at 0.27 in March 2020 and reaching a peak of 0.60 in September 2022. This ratio measures how efficiently the company generates revenue from its fixed assets. The increasing trend from 2020 to 2022 indicates that EQT was utilizing its fixed assets more effectively to generate sales. However, there was a slight decline in the ratio from September 2022 to December 2024.

On the other hand, the total asset turnover ratio, which reflects the company's ability to generate sales from all its assets, also showed variability during the period. It started at 0.24 in March 2020, peaked at 0.48 in September 2022, and decreased to 0.13 in December 2024. The ratio experienced fluctuations but generally trended upwards until September 2022, suggesting an improvement in the company's overall asset utilization efficiency.

Overall, the analysis of EQT Corporation's long-term activity ratios indicates that the company made improvements in asset turnover efficiency from 2020 to 2022 but experienced a decline in asset turnover thereafter, signaling potential challenges in effectively utilizing its assets to generate sales.