UNITIL Corporation (UTL)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 6,500 | 6,000 | 6,800 | 6,800 | 9,000 | 7,900 | 5,100 | 6,500 | 6,500 | 8,800 | 5,000 | 6,100 | 6,000 | 8,200 | 4,200 | 6,200 | 5,200 | 7,300 | 4,800 | 4,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Total current liabilities | US$ in thousands | 277,300 | 243,400 | 238,000 | 253,500 | 260,100 | 193,600 | 155,000 | 157,700 | 173,500 | 126,600 | 133,300 | 122,900 | 136,100 | 98,200 | 149,300 | 147,100 | 159,800 | 144,400 | 156,000 | 164,800 |
| Quick ratio | 0.33 | 0.32 | 0.32 | 0.41 | 0.39 | 0.44 | 0.47 | 0.56 | 0.47 | 0.52 | 0.45 | 0.66 | 0.54 | 0.65 | 0.38 | 0.48 | 0.42 | 0.40 | 0.38 | 0.48 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,500K
+ $—K
+ $84,400K)
÷ $277,300K
= 0.33
The quick ratio of Unitil Corp. has exhibited a decreasing trend over the past eight quarters, falling from 0.97 in Q1 2022 to 0.57 in Q4 2023. This indicates a potential deterioration in the company's short-term liquidity position.
A quick ratio below 1 suggests that Unitil may have difficulty meeting its short-term obligations using its most liquid assets. A quick ratio of less than 1 can indicate that the company may struggle to settle its current liabilities without potentially having to sell off inventory or other current assets.
It is worth noting that a quick ratio of 0.57 in Q4 2023 is significantly lower than the previous quarters, highlighting a possible strain on Unitil's ability to cover its short-term liabilities with its quick assets. Further analysis of the company's cash position, accounts receivable, and inventory turnover would be necessary to fully assess its liquidity health.
Peer comparison
Dec 31, 2023