Brinks Company (BCO)

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	430,700	458,700	384,400	374,600	350,800	357,200	364,300	342,300	337,700	302,300	294,900	213,000	169,100	107,900	88,800	143,800	180,600	208,100	222,500	101,100
Long-term debt	US$ in thousands	3,262,500	3,202,200	3,251,200	3,190,200	3,273,200	3,269,200	3,060,900	2,961,400	2,841,700	2,701,100	2,702,200	2,427,600	2,334,200	2,407,000	2,362,600	1,756,800	1,554,800	1,660,800	1,657,700	1,596,500
Total stockholders’ equity	US$ in thousands	397,400	462,800	541,300	478,800	447,100	202,700	240,500	240,000	123,000	121,400	174,000	99,800	128,800	90,000	111,300	66,300	191,800	169,200	194,200	165,300
Return on total capital		11.77%	12.52%	10.14%	10.21%	9.43%	10.29%	11.03%	10.69%	11.39%	10.71%	10.25%	8.43%	6.87%	4.32%	3.59%	7.89%	10.34%	11.37%	12.01%	5.74%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $430,700K ÷ ($3,262,500K + $397,400K)
= 11.77%

Over the past eight quarters, Brink's Co. has consistently maintained a relatively stable return on total capital, ranging from 10.33% to 12.52%. This indicates the company's ability to generate earnings in relation to the total capital invested in its operations. The higher returns observed in Q4 2023 (12.46%) and Q3 2023 (12.52%) suggest improved efficiency in utilizing capital to generate profits during those periods. However, the slight dip in Q2 2023 (10.60%) followed by a moderate increase in Q1 2023 (10.96%) indicates some variability in performance during the year. Overall, Brink's Co. appears to be effectively managing its capital to generate returns for its shareholders, with consistently positive results over the analyzed period.