UNITIL Corporation (UTL)

Solvency ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Debt-to-assets ratio	0.36	0.37	0.30	0.30	0.30	0.31	0.30	0.30	0.31	0.31	0.32	0.32	0.32	0.33	0.34	0.35	0.35	0.37	0.32	0.32
Debt-to-capital ratio	0.55	0.56	0.50	0.50	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
Debt-to-equity ratio	1.25	1.27	1.00	0.99	1.04	1.06	1.00	1.00	1.05	1.07	1.07	1.07	1.11	1.14	1.26	1.28	1.34	1.39	1.13	1.12
Financial leverage ratio	3.50	3.46	3.33	3.32	3.41	3.38	3.29	3.32	3.40	3.44	3.33	3.34	3.43	3.43	3.69	3.66	3.80	3.74	3.59	3.55

UNITIL Corporation's solvency ratios provide insights into its ability to meet long-term obligations and depend on debt to fund its activities. The Debt-to-assets ratio has remained relatively stable around 0.30 to 0.37 over the periods analyzed, indicating that only around 30% to 37% of the company's assets are financed by debt.

The Debt-to-capital ratio has also shown consistency, staying within the range of 0.50 to 0.58. This metric shows that UNITIL relies on debt for approximately 50% to 58% of its capital structure, which indicates a moderate level of leverage.

The Debt-to-equity ratio exhibits fluctuations from 1.00 to 1.39 during the period under review. This metric signifies that UNITIL's liabilities ranged between being equal to its equity to being 1.39 times its equity, portraying variations in the company's capital structure over time.

The Financial leverage ratio presents a consistent pattern, ranging from 3.29 to 3.80. This ratio indicates the company's overall leverage position and reflects how much of the company's assets are financed through debt. The stability in this ratio implies a relatively consistent level of financial leverage.

Overall, while there have been some fluctuations in UNITIL's solvency ratios over the years, the company has maintained a generally stable and balanced approach to debt financing, ensuring a reasonable mix of debt and equity in its capital structure.

Coverage ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Interest coverage	2.60	2.51	2.48	2.66	2.61	2.69	2.78	2.82	2.84	2.99	3.04	3.00	2.88	2.82	2.87	2.92	2.71	2.60	2.69	2.70

The interest coverage ratio of UNITIL Corporation has shown some fluctuations over the past few years, ranging from a low of 2.48 to a high of 3.04. The trend indicates that the company generally has the ability to cover its interest expenses comfortably with operating income. During the most recent period ending December 31, 2024, the interest coverage ratio stood at 2.60, suggesting that the company earned $2.60 in operating income for every $1 in interest expense.

However, it's worth noting that the interest coverage ratio has slightly decreased from its peak in June 30, 2022, and experienced some volatility in the subsequent periods. This may raise concerns about the company's ability to service its debt obligations in the long run if this trend continues. Overall, while UNITIL Corporation currently maintains a reasonable level of interest coverage, it's important to monitor future changes in this ratio to assess the company's financial health and sustainability.