Cable One Inc (CABO)

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	527,287	345,968	371,305	375,990	498,163	614,939	581,831	584,217	451,038	500,270	503,853	469,733	454,315	376,034	358,387	330,505	305,544	286,445	269,552	276,620
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,873,140	1,802,730	1,767,740	1,742,610	1,757,970	1,897,130	1,905,500	1,936,150	1,793,100	1,731,220	1,680,840	1,600,650	1,495,300	1,384,400	1,323,550	810,891	841,569	774,759	762,908	769,035
Return on total capital		28.15%	19.19%	21.00%	21.58%	28.34%	32.41%	30.53%	30.17%	25.15%	28.90%	29.98%	29.35%	30.38%	27.16%	27.08%	40.76%	36.31%	36.97%	35.33%	35.97%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $527,287K ÷ ($—K + $1,873,140K)
= 28.15%

Cable One Inc's return on total capital has shown relatively stable performance over the past eight quarters. The return on total capital has ranged from 8.62% to 9.32% during this period, indicating consistent efficiency in generating returns from its total capital base. The average return on total capital over this period is approximately 9.03%, suggesting that the company has been effectively utilizing its total capital to generate profits for its shareholders. The company's ability to maintain a stable and relatively high return on total capital is a positive indicator of its operational efficiency and financial strength.