ASGN Inc (ASGN)

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	364,100	371,100	383,000	395,100	410,700	435,400	570,700	555,500	529,000	494,900	328,200	307,800	305,400	279,900	291,600	290,500	282,300	301,300	284,700	277,000
Long-term debt	US$ in thousands	1,036,600	1,000,000	—	—	1,066,600	1,000,000	1,000,000	1,000,000	1,033,900	1,100,000	1,000,000	1,000,000	1,033,400	—	1,032,900	1,065,500	1,032,300	985,200	1,026,000	1,107,700
Total stockholders’ equity	US$ in thousands	1,892,100	1,908,700	1,926,600	1,923,500	1,901,300	1,889,100	1,856,100	1,869,200	1,865,400	1,834,400	1,719,800	1,645,800	1,587,100	1,524,200	1,457,100	1,399,500	1,376,200	1,331,500	1,283,700	1,227,300
Return on total capital		12.43%	12.76%	19.88%	20.54%	13.84%	15.07%	19.98%	19.36%	18.25%	16.87%	12.07%	11.63%	11.65%	18.36%	11.71%	11.78%	11.72%	13.01%	12.33%	11.86%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $364,100K ÷ ($1,036,600K + $1,892,100K)
= 12.43%

ASGN Inc's return on total capital has been relatively stable over the past eight quarters, ranging from 12.43% to 13.80%. The company's return on total capital peaked at 13.80% in Q2 2022 and Q4 2022, but slightly decreased in subsequent quarters. The consistent performance indicates that ASGN Inc has been effectively utilizing its total capital to generate returns for its stakeholders. However, a slight decline in Q4 2023 compared to previous quarters may warrant further investigation to ensure sustained profitability and efficient capital allocation in the future.