Biomarin Pharmaceutical Inc (BMRN)

Return on total capital

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	254,532	205,898	166,541	123,868	88,013	165,546	116,750	71,685	50,948	-60,013	-39,396	-48,725	-100,923	-19,688	19,572	83,950	83,146	-71,351	-104,065	-124,106
Long-term debt	US$ in thousands	593,605	593,095	592,586	1,084,990	1,084,010	1,083,020	1,082,030	1,081,050	1,080,060	1,079,080	1,078,090	1,077,110	1,076,130	1,075,140	1,074,160	1,073,200	486,713	486,238	843,616	839,165
Total stockholders’ equity	US$ in thousands	5,073,820	4,951,550	4,896,900	4,782,830	4,659,040	4,603,160	4,568,510	4,499,740	4,386,240	4,265,670	4,261,080	4,236,500	4,162,010	4,100,930	4,053,890	3,236,680	3,239,960	3,122,380	3,074,400	2,960,950
Return on total capital		4.49%	3.71%	3.03%	2.11%	1.53%	2.91%	2.07%	1.28%	0.93%	-1.12%	-0.74%	-0.92%	-1.93%	-0.38%	0.38%	1.95%	2.23%	-1.98%	-2.66%	-3.27%

March 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $254,532K ÷ ($593,605K + $5,073,820K)
= 4.49%

Biomarin Pharmaceutical Inc's return on total capital has exhibited fluctuating trends over the past several quarters. The return on total capital ranged from -3.27% in Jun 2019 to a peak of 4.49% in Mar 2024. Overall, there has been a general upward trend in the return on total capital, with a few exceptions of negative returns in some quarters.

The return on total capital indicates the company's ability to generate profits from the total capital invested in the business, including both debt and equity. The increasing trend in the return on total capital suggests that the company may be improving its operational efficiency and generating higher returns on the capital employed.

However, it is important to note that the return on total capital can be influenced by various factors such as changes in profitability, asset utilization, and capital structure. Further analysis of the company's financial statements and business operations would provide a more in-depth understanding of the factors driving the changes in the return on total capital.