UNITIL Corporation (UTL)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		27.71	34.58	36.22	0.09	0.09
DOH	days	13.17	10.56	10.08	3,878.12	4,119.29

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 27.71
= 13.17

The days of inventory on hand (DOH) for Unitil Corp. has shown some fluctuations over the past five years. The ratio indicates the number of days a company holds onto its inventory before it is sold, with a lower number generally being more favorable as it suggests efficient inventory management.

In 2023, Unitil Corp. had 17.73 days of inventory on hand, which is an increase from the previous year. This may indicate a decrease in the efficiency of inventory turnover, potentially tying up more capital in inventory.

Comparing to 2021 and 2020, where the DOH was 14.43 days and 16.35 days respectively, we see a general trend of fluctuation over the years.

In 2019, the DOH was 14.23 days, relatively close to 2021. This suggests that Unitil Corp. has maintained a similar level of efficiency in managing its inventory compared to five years ago.

Overall, while there have been fluctuations in the days of inventory on hand for Unitil Corp. in recent years, further analysis would be necessary to understand the underlying reasons for these changes and their impact on the company's operations and financial performance.