Cal-Maine Foods Inc (CALM)
Return on total capital
| Jun 1, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 312,452 | 306,489 | 551,485 | 797,119 | 967,726 | 977,200 | 608,987 | 347,054 | 143,537 | -15,188 | -55,251 | -38,707 | -26,263 | 62,855 | 68,560 | 37,516 | 1,269 | -105,243 | -72,265 | -30,366 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,800,150 | 1,723,750 | 1,626,410 | 1,613,340 | 1,611,080 | 1,535,990 | 1,320,960 | 1,188,320 | 1,104,550 | 1,030,330 | 997,448 | 995,567 | 1,012,780 | 1,016,450 | 1,004,710 | 991,945 | 1,009,680 | 947,448 | 933,731 | 941,301 |
| Return on total capital | 17.36% | 17.78% | 33.91% | 49.41% | 60.07% | 63.62% | 46.10% | 29.21% | 13.00% | -1.47% | -5.54% | -3.89% | -2.59% | 6.18% | 6.82% | 3.78% | 0.13% | -11.11% | -7.74% | -3.23% |
June 1, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $312,452K ÷ ($—K + $1,800,150K)
= 17.36%
Cal-Maine Foods Inc's return on total capital has varied over the past few quarters. The return on total capital ranged from -11.11% to 63.62% during the period specified in the data. The company experienced a significant decline in return on total capital in the earlier quarters, with negative returns recorded in some periods. However, there was a notable improvement in the more recent quarters, with the return on total capital climbing to above 30% in some periods.
This fluctuation in the return on total capital suggests that Cal-Maine Foods Inc's capital utilization and profitability have not been consistent. It is important for investors and analysts to closely monitor this metric to assess the company's ability to generate returns on its invested capital efficiently and sustainably.