UNITIL Corporation (UTL)

Receivables 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
Revenue (ttm)	US$ in thousands	1,079,300	1,149,700	1,162,300	1,153,300	1,098,100	1,055,800	1,031,600	1,027,000	919,400	874,400	853,000	827,600	810,800	809,600	805,400	806,400	862,300	879,700	884,400	883,500
Receivables	US$ in thousands	84,400	71,700	68,900	96,900	91,800	76,800	67,700	82,600	74,300	56,800	55,500	74,400	66,900	55,200	52,500	64,800	61,200	50,900	54,000	74,300
Receivables turnover		12.79	16.03	16.87	11.90	11.96	13.75	15.24	12.43	12.37	15.39	15.37	11.12	12.12	14.67	15.34	12.44	14.09	17.28	16.38	11.89

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,079,300K ÷ $84,400K
= 12.79

The receivables turnover ratio for Unitil Corp. has shown some fluctuations over the past eight quarters. The ratio indicates how efficiently the company is collecting payments from its customers. A higher receivables turnover ratio generally signifies a more efficient collection process, as it shows that the company is converting its accounts receivable into cash more quickly.

In Q2 and Q3 of 2023, Unitil Corp. experienced a significant increase in its receivables turnover ratio, reaching 8.64 and 8.21, respectively. This indicates that the company was collecting payments from its customers at a faster rate during these periods.

However, in Q4 2023, the receivables turnover ratio decreased to 6.60 from the previous quarter's high. While this decrease may indicate that Unitil Corp. took longer to collect payments from its customers in this quarter, the ratio is still above the levels seen in earlier periods.

Overall, Unitil Corp.'s receivables turnover has generally been healthy and relatively stable over the past eight quarters, indicating that the company has been effectively managing its accounts receivable and collecting payments in a timely manner. Tracking this ratio over time can provide insights into the company's financial performance and liquidity position.