Unit (UNTC) Accounts Receivable : $39.4 Mil (As of Mar. 2024)

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What is Unit Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Unit's accounts receivables for the quarter that ended in Mar. 2024 was $39.4 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Unit's Days Sales Outstanding for the quarter that ended in Mar. 2024 was 53.55.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Unit's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $4.01.

Unit Accounts Receivable Historical Data

The historical data trend for Unit's Accounts Receivable 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 Accounts Receivable Chart

Unit Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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82.66

57.85

87.25

57.78

45.38

Unit Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Accounts Receivable	Get a 7-Day Free Trial															49.15	45.94	45.83	45.38	39.44

Unit Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Unit Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Unit's Days Sales Outstanding for the quarter that ended in Mar. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	39.438	/	67.204	*	91
=	53.55

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Unit's accounts receivable are only considered to be worth 75% of book value:

Unit's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(65.599	+	0.75 * 39.438	+	0.5 * 0	-	56.023
-	0	-	0)	/	9.75863
=	4.01

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Unit Accounts Receivable Related Terms

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Unit (UNTC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Unit Corp (OTCPK:UNTC) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

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.

Executives

Micheal L Hicks	officer: President, Superior Pipeline	8200 S. UNIT DRIVE, TULSA OK 74132
Peyton G Bailey Iv	director	8200 S. UNIT DRIVE, TULSA OK 74132
George L Austin	officer: Sr. VP and CFO	C/O CYPRESS ENERGY PARTNERS, L.P., 5727 S LEWIS AVENUE, SUITE 500, TULSA OK 74105
David P Dunham	officer: Sr VP Business Development	8200 S. UNIT DRIVE, TULSA OK 74132
Frank Q Young	officer: Executive Vice President, UPC	8200 S. UNIT DRIVE, TULSA OK 74132
Carla S Mashinski	director	8200 S. UNIT DRIVE, TULSA OK 74132
Larry C Payne	director	8200 S. UNIT DRIVE, TULSA OK 74132
Don A Hayes	officer: Controller	8200 S. UNIT DRIVE, TULSA OK 74132
Steven B Hildebrand	director	8200 S. UNIT DRIVE, TULSA OK 74132
Brad Guidry	officer: Senior Vice President, UPC	8200 S. UNIT DRIVE, TULSA OK 74132
John Cromling	officer: Executive Vice President, UDC	8200 S. UNIT DRIVE, TULSA OK 74132
Robert Parks	officer: Manager, Superior Pipeline	8200 S. UNIT DRIVE, TULSA OK 74132
Sullivan Robert J Jr	director	8200 S. UNIT DRIVE, TULSA OK 74132
Gary R Christopher	director	8200 S. UNIT DRIVE, TULSA OK 74132
George Kaiser Family Foundation	10 percent owner	7030 SOUTH YALE AVENUE, SUITE 600, TULSA OK 74136