UNITIL Corporation (UTL)
Debt-to-capital 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 | ||
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Long-term debt | US$ in thousands | 509,100 | 509,000 | 486,200 | 488,000 | 489,100 | 493,100 | 495,100 | 496,600 | 497,800 | 501,300 | 505,300 | 515,800 | 523,100 | 529,000 | 436,400 | 436,300 | 437,500 | 410,900 | 373,100 | 373,000 |
Total stockholders’ equity | US$ in thousands | 489,300 | 479,800 | 484,400 | 486,400 | 467,600 | 458,800 | 464,300 | 465,300 | 448,500 | 439,600 | 400,800 | 403,300 | 389,200 | 380,800 | 385,700 | 387,900 | 376,800 | 370,000 | 373,000 | 373,900 |
Debt-to-capital ratio | 0.51 | 0.51 | 0.50 | 0.50 | 0.51 | 0.52 | 0.52 | 0.52 | 0.53 | 0.53 | 0.56 | 0.56 | 0.57 | 0.58 | 0.53 | 0.53 | 0.54 | 0.53 | 0.50 | 0.50 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $509,100K ÷ ($509,100K + $489,300K)
= 0.51
The debt-to-capital ratio of Unitil Corp. has remained relatively stable in recent quarters, ranging from 0.54 to 0.58. This indicates that the company's level of debt compared to its total capital has been relatively consistent. A ratio of around 0.57 suggests that approximately 57% of Unitil's capital structure is funded by debt, while the remaining 43% is funded by equity. This level of debt may be considered moderate and within acceptable limits for the industry. Investors and creditors may view this stability positively as it indicates a consistent approach to managing the company's leverage over time.
Peer comparison
Dec 31, 2023