UNITIL Corporation — Earnings Quality Grade F
UTL · Utilities
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 12 days
AR outpaced revenue for 2 consecutive years
Revenue 8.3%, CFFO 4.3%. Cash follows revenue
Expense Quality
Inventory 9.2% vs COGS 5.6%. Normal
CapEx growth 8.9% vs revenue 8.3%. Normal
Insufficient data
Gross margin 41.3%, change +1.5pp. Stable
Cash Flow Quality
CFFO/NI = 2.62. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -3.8%. Low accruals
Cash $0.0B covers only 2% of debt $0.9B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Debt/EBITDA = 4.7x (>4x). Financial stress
Other assets grew 160.0% vs revenue 8.3%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Insufficient data
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25