UNITIL Corporation (UTL)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	298,200	374,100	394,200	311,500	800
Inventory	US$ in thousands	14,200	13,500	11,400	8,600	8,500
Inventory turnover		21.00	27.71	34.58	36.22	0.09

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $298,200K ÷ $14,200K
= 21.00

UNITIL Corporation's inventory turnover has exhibited significant fluctuations over the past five years. The turnover ratio was exceptionally low at 0.09 on December 31, 2020, indicating that the company's inventory took a long time to sell or turnover. Subsequently, there was a remarkable surge in inventory turnover to 36.22 on December 31, 2021, implying a much faster rate of inventory turnover.

The trend continued with relatively high turnover ratios of 34.58 on December 31, 2022, and 27.71 on December 31, 2023, suggesting efficient management of inventory levels. However, there was a notable decrease in inventory turnover to 21.00 on December 31, 2024, which may indicate potential challenges in selling inventory efficiently compared to previous years.

Overall, UNITIL Corporation's inventory turnover has shown significant variability, which could be reflective of changing sales patterns, inventory management strategies, or shifts in market demand. Further analysis and contextual information would be necessary to fully understand the implications of these fluctuations on the company's operations and financial performance.