UNITIL Corporation (UTL)
Total asset 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 |
| Total assets | US$ in thousands | 1,670,400 | 1,590,400 | 1,540,300 | 1,477,900 | 1,370,800 |
| Total asset turnover | 0.65 | 0.69 | 0.60 | 0.55 | 0.63 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,079,300K ÷ $1,670,400K
= 0.65
The total asset turnover ratio for Unitil Corp. has shown a fluctuating trend over the past five years. In 2023, the total asset turnover ratio decreased to 0.33 from 0.35 in 2022, indicating that the company generated $0.33 in revenue for every dollar of assets. This decline suggests a slightly lower efficiency in utilizing its assets to generate sales compared to the previous year.
Compared to 2021 and 2020 when the total asset turnover ratios were 0.31 and 0.28 respectively, the company exhibited relatively better asset utilization in 2023. However, in 2019, the total asset turnover ratio was higher at 0.32, indicating that the company was more efficient in generating revenue from its assets that year.
Overall, Unitil Corp. may need to focus on improving its asset management efficiency to increase revenue generation in the future, as the fluctuating trend in the total asset turnover ratio suggests varying levels of effectiveness in utilizing its assets to drive sales.
Peer comparison
Dec 31, 2023