Adapthealth Corp (AHCO)

Return on total capital

		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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	250,149	-86,635	-606,470	-606,589	-597,589	-325,782	180,809	177,374	203,555	229,442	273,643	339,734	284,124	151,380	13,386	-87,420	-132,193	-64,805	-13,158	-12,386
Long-term debt	US$ in thousands	1,964,920	2,013,640	2,040,450	2,159,160	2,094,610	2,126,800	2,135,620	2,169,440	2,153,270	2,162,090	2,170,910	2,179,730	2,183,550	2,187,370	1,776,330	1,748,830	776,568	722,730	443,248	463,553
Total stockholders’ equity	US$ in thousands	1,571,140	1,516,260	1,485,820	1,461,790	1,458,450	1,732,480	2,180,940	2,159,890	2,151,160	2,154,370	2,133,220	2,115,360	2,061,910	1,990,110	1,889,960	1,788,280	354,889	360,999	8,491	-33,173
Return on total capital		7.07%	-2.45%	-17.20%	-16.75%	-16.82%	-8.44%	4.19%	4.10%	4.73%	5.32%	6.36%	7.91%	6.69%	3.62%	0.37%	-2.47%	-11.68%	-5.98%	-2.91%	-2.88%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $250,149K ÷ ($1,964,920K + $1,571,140K)
= 7.07%

Adapthealth Corp's return on total capital has shown significant fluctuations over the periods provided. The company experienced negative returns in the range of -2.88% to -17.20% from March 2020 to June 2024. Notably, there was a sharp decline in return on total capital from December 2023 to June 2024. However, there was a positive turnaround in the following periods with returns improving to 7.07% by December 2024. It is important to further investigate the underlying factors contributing to these fluctuations in order to assess the company's overall financial health and performance.