Unit (UNTCW) Receivables Turnover : 1.58 (As of Mar. 2024)

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What is Unit Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Unit's Revenue for the three months ended in Mar. 2024 was $67.20 Mil. Unit's average Accounts Receivable for the three months ended in Mar. 2024 was $42.41 Mil. Hence, Unit's Receivables Turnover for the three months ended in Mar. 2024 was 1.58.

Unit Receivables Turnover Historical Data

The historical data trend for Unit's Receivables Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Unit Receivables Turnover Chart

Unit Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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6.68

8.80

7.52

6.35

Unit Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															1.76	1.65	1.75	1.64	1.58

Competitive Comparison of Unit's Receivables Turnover

For the Oil & Gas Integrated subindustry, Unit's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Unit's Receivables Turnover Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Unit's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Unit's Receivables Turnover falls into.

Unit Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Unit's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	327.293	/ (	(57.776	+	45.382)	/	2 )
=	327.293	/	51.579
=	6.35

Unit's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	67.204	/ (	(45.382	+	39.438)	/	2 )
=	67.204	/	42.41
=	1.58

Unit (OTCPK:UNTCW) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Unit Receivables Turnover Related Terms

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Unit (UNTCW) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Unit Corp (OTCPK:UNTCW) » Definitions » Receivables Turnover

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UNTC:USA

Address

8200 South Unit Drive, Tulsa, OK, USA, 74132

Website

https://www.unitcorp.com

Unit Corp is an oil and natural gas contract drilling company. The company is also in exploration and production and mid-stream areas. There are three segments which include Oil and Natural gas, Contract Drilling and Mid-stream. The oil and natural gas segment is engaged in the development, acquisition, and production of oil, NGLs, and natural gas properties. The contract drilling segment is engaged in the land contract drilling of oil and natural gas wells and the mid-stream segment is engaged in the buying, selling, gathering, processing, and treating of natural gas. Majority of revenue is generated from Oil and Natural Gas.