UNITIL Corporation (UTL)

Number of days of payables

		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
Payables turnover		6.80	10.15	10.06	8.99	5.75	10.58	10.57	9.27	5.94	7.45	6.47	6.94	5.96	7.88	7.84	5.31	1.55	2.62	2.87	1.92
Number of days of payables	days	53.70	35.96	36.28	40.58	63.52	34.50	34.55	39.36	61.40	48.97	56.42	52.56	61.26	46.34	46.54	68.70	235.00	139.54	127.08	190.59

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.80
= 53.70

Unitil Corp.'s number of days of payables have shown variability over the past eight quarters, ranging from a low of 38.56 days in Q3 2023 to a high of 78.12 days in Q4 2022. The trend indicates that payables were managed more efficiently in the recent quarters compared to earlier periods. It is noteworthy that the number of days of payables decreased significantly from Q4 2022 to Q1 2023, suggesting improved management of supplier obligations or changes in payment terms. Overall, a lower number of days of payables may indicate strong liquidity or negotiation power with suppliers, while a higher number of days may imply cash flow challenges or potentially taking advantage of extended payment terms.