Artivion Inc (AORT)

Return on total capital

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	3,713	6,707	1,796	-1,102	3,240	-17,602	2,169	2,691	671	17,472	6,147	3,758	-876	-335	1,554	9,159	16,544	13,838	17,438	14,865
Long-term debt	US$ in thousands	305,531	305,877	306,109	306,279	306,499	306,674	306,941	307,232	307,493	307,765	308,050	310,058	290,468	289,697	288,946	244,227	214,571	214,793	215,013	215,260
Total stockholders’ equity	US$ in thousands	281,780	271,975	282,508	279,917	284,329	255,108	281,509	297,492	300,728	311,541	301,835	297,331	328,713	325,766	296,556	276,609	285,696	277,501	282,153	272,622
Return on total capital		0.63%	1.16%	0.31%	-0.19%	0.55%	-3.13%	0.37%	0.44%	0.11%	2.82%	1.01%	0.62%	-0.14%	-0.05%	0.27%	1.76%	3.31%	2.81%	3.51%	3.05%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $3,713K ÷ ($305,531K + $281,780K)
= 0.63%

Artivion Inc's return on total capital has exhibited fluctuating performance over the past eight quarters. In Q4 2023, the return on total capital was -1.44%, indicating that the company generated a negative return on the total capital invested in the business during that period. This was a deterioration from the previous quarter's performance, where the return on total capital was -1.30%.

The negative trend continued in Q2 and Q3 2023, with returns on total capital of -1.75% and -1.30% respectively. However, the company showed a slight improvement in Q1 2023, achieving a return on total capital of 0.12%, turning positive for the first time in the analyzed period.

Comparing the most recent performance with the same quarter the previous year, there has been a significant decline in return on total capital. In Q4 2022, the return on total capital was 1.04%, illustrating a notable decrease in profitability for Artivion Inc over this one-year period.

Overall, Artivion Inc's return on total capital has been volatile and generally negative in recent quarters, indicating challenges in generating profits relative to the total capital invested in the business. Further analysis and scrutiny of the company's financial performance and operational efficiency may be necessary to improve this key financial metric.