Coterra Energy Inc (CTRA)

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	2,201,000	2,944,000	4,045,000	5,369,000	5,279,000	5,189,000	3,748,000	2,192,000	1,568,000	485,892	384,359	384,075	295,476	354,793	492,103	689,192	955,750	1,074,219	1,120,493	947,717
Long-term debt	US$ in thousands	1,586,000	1,592,000	2,171,000	2,176,000	2,181,000	2,188,000	2,981,000	3,090,000	3,125,000	946,509	946,316	946,123	946,000	973,712	1,045,500	1,045,260	1,133,020	1,132,790	1,219,560	1,219,340
Total stockholders’ equity	US$ in thousands	13,039,000	12,789,000	12,659,000	12,643,000	12,659,000	12,659,000	12,191,000	11,718,000	11,738,000	2,327,000	2,300,000	2,306,000	2,216,000	2,118,490	2,165,980	2,168,400	2,151,000	2,213,580	2,344,800	2,320,940
Return on total capital		15.05%	20.47%	27.28%	36.23%	35.57%	34.95%	24.70%	14.80%	10.55%	14.84%	11.84%	11.81%	9.34%	11.47%	15.32%	21.45%	29.10%	32.10%	31.44%	26.77%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,201,000K ÷ ($1,586,000K + $13,039,000K)
= 15.05%

Coterra Energy Inc's return on total capital has fluctuated over the past eight quarters, ranging from 14.07% to 35.61%. The company's return on total capital was highest in Q1 2023 at 35.61% and lowest in Q4 2023 at 14.07%.

The trend indicates an overall increasing pattern in return on total capital from Q1 2022 to Q1 2023, followed by a decrease in Q2 and Q3 2023, before a slight recovery in Q4 2023.

These fluctuations suggest that Coterra Energy Inc may have experienced changes in its capital efficiency and profitability over the period analyzed, which could be influenced by various factors such as operational performance, capital structure, or market conditions. Further evaluation of the underlying reasons for these fluctuations would provide a more in-depth understanding of the company's financial performance.