Bruker Corporation (BRKR)

Return on total capital

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	561,300	429,100	404,400	236,600	295,600
Long-term debt	US$ in thousands	1,160,300	1,200,500	1,221,800	842,300	812,800
Total stockholders’ equity	US$ in thousands	1,377,200	1,113,800	1,070,500	961,200	906,800
Return on total capital		22.12%	18.54%	17.64%	13.12%	17.19%

December 31, 2023 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $561,300K ÷ ($1,160,300K + $1,377,200K)
= 22.12%

Bruker Corp's return on total capital has fluctuated over the past five years. In 2023, the return on total capital was 18.27%, showing a slight decrease from 19.83% in 2022. Despite the decrease, the company's return on total capital remains relatively strong compared to previous years, where it ranged from 15.13% to 17.87%. This indicates that Bruker Corp has been efficient in generating profits from the total capital employed in its operations. Overall, the company has been maintaining a healthy return on investment, reflecting positively on its operational efficiency and capital utilization.