UNITIL Corporation (UTL)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	324,200	361,300	369,200	416,400	394,200	372,400	362,400	361,700	311,500	219,900	210,900	199,300	197,800	197,700	193,700	140,800	58,400	59,900	62,900	63,200
Inventory	US$ in thousands	13,500	12,600	12,900	12,400	11,400	10,100	9,700	9,400	8,600	8,600	8,600	9,200	8,500	8,500	9,200	9,200	7,900	7,700	7,500	7,800
Inventory turnover		24.01	28.67	28.62	33.58	34.58	36.87	37.36	38.48	36.22	25.57	24.52	21.66	23.27	23.26	21.05	15.30	7.39	7.78	8.39	8.10

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $324,200K ÷ $13,500K
= 24.01

Unitil Corp.'s inventory turnover ratio has fluctuated over the past eight quarters, with values ranging from 20.59 to 29.44. The inventory turnover ratio indicates how many times a company's inventory is sold and replaced over a period. A higher turnover ratio is generally seen as more efficient, indicating that the company is effectively managing its inventory levels.

The trend in Unitil Corp.'s inventory turnover shows a consistent decrease from Q1 2022 to Q1 2023, with a slight fluctuation in the middle quarters. The highest turnover ratio was observed in Q1 2022 at 29.44, suggesting that inventory was being sold and replenished at a faster rate during that period.

Overall, Unitil Corp.'s inventory turnover ratios demonstrate a relatively healthy level of inventory management efficiency, as the values are consistently above 20. However, the decreasing trend over the quarters may warrant further investigation into factors affecting inventory turnover, such as demand fluctuations, production issues, or supply chain disruptions.