UNITIL Corporation (UTL)

Total asset 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
Total assets	US$ in thousands	1,670,400	1,620,200	1,595,300	1,614,700	1,590,400	1,578,900	1,547,100	1,552,300	1,540,300	1,509,000	1,477,100	1,477,000	1,477,900	1,423,900	1,384,500	1,378,400	1,370,800	1,309,700	1,279,300	1,290,200
Total asset turnover		0.65	0.71	0.73	0.71	0.69	0.67	0.67	0.66	0.60	0.58	0.58	0.56	0.55	0.57	0.58	0.59	0.63	0.67	0.69	0.68

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,079,300K ÷ $1,670,400K
= 0.65

The total asset turnover ratio for Unitil Corp. has shown relatively consistent performance over the past eight quarters, hovering around the range of 0.33 to 0.37.

A total asset turnover ratio of less than 1 generally indicates that the company is not generating a high level of sales relative to its total assets. In the case of Unitil Corp., the consistent range of 0.33 to 0.37 suggests that the company is generating approximately 33% to 37% in sales for each dollar of total assets it holds.

While the total asset turnover ratio is a measurement of efficiency, it is important to consider industry benchmarks and compare the company's ratio to its competitors for a more insightful analysis of its performance. Additionally, it is advisable to analyze other financial ratios and consider qualitative factors to gain a comprehensive understanding of Unitil Corp.'s overall financial health and operational efficiency.