Smith AO Corporation (AOS)

Return on total capital

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before interest and tax (EBIT) US$ in thousands 729,400 707,700 745,500 233,100 629,900
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands 2,130,500 1,883,500 1,844,400 1,747,700 1,832,200
Return on total capital 34.24% 37.57% 40.42% 13.34% 34.38%

December 31, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $729,400K ÷ ($—K + $2,130,500K)
= 34.24%