UNITIL Corporation (UTL)

Receivables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	953,400	1,079,300	1,098,100	919,400	810,800
Receivables	US$ in thousands	81,400	84,400	91,800	74,300	66,900
Receivables turnover		11.71	12.79	11.96	12.37	12.12

December 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $953,400K ÷ $81,400K
= 11.71

The receivables turnover ratio of UNITIL Corporation has shown a fluctuating trend over the past five years. In December 2020, the ratio was 12.12, indicating that the company collected its accounts receivables approximately 12 times during that year. The ratio increased slightly to 12.37 by December 2021, suggesting an improvement in the company's efficiency in collecting outstanding receivables.

However, in the following years, the receivables turnover ratio decreased to 11.96 in December 2022 and then surged to 12.79 by December 2023, reaching the highest point in the period under review. This spike might indicate a more aggressive collection strategy or an improvement in credit policies.

Nevertheless, by December 2024, the ratio dropped to 11.71, signaling a slight decline in the efficiency of collecting receivables compared to the previous year. Overall, UNITIL Corporation has maintained a relatively stable receivables turnover performance, albeit with some fluctuations, which would require further analysis to understand the underlying reasons.