UNITIL Corporation (UTL)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,079,300 | 1,098,100 | 919,400 | 810,800 | 862,300 |
| Receivables | US$ in thousands | 84,400 | 91,800 | 74,300 | 66,900 | 61,200 |
| Receivables turnover | 12.79 | 11.96 | 12.37 | 12.12 | 14.09 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,079,300K ÷ $84,400K
= 12.79
Unitil Corp.'s receivables turnover has shown a generally increasing trend over the past five years, reflecting the company's ability to efficiently collect payments from its customers. The ratio increased from 5.81 in 2019 to 6.60 in 2023, indicating that Unitil has been able to convert its accounts receivable into cash more quickly.
A higher receivables turnover ratio suggests that Unitil is managing its credit and collections processes effectively, potentially reducing the risk of bad debts and improving its cash flow. Overall, the increasing trend in receivables turnover is a positive sign of the company's financial health and operational efficiency in managing its accounts receivable.
Peer comparison
Dec 31, 2023