Corteva Inc (CTVA)
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 | -2,029,000 | -1,753,000 | -1,798,000 | -1,698,000 | -1,937,000 | -2,116,000 | -2,220,000 | -2,493,000 | -2,619,000 | -475,000 | -523,000 | -1,042,000 | -1,325,000 | -1,515,000 | -1,590,000 | -1,019,000 | -1,378,000 | |||
| Long-term debt | US$ in thousands | 2,434,000 | 2,320,000 | 2,368,000 | 1,198,000 | 1,172,000 | 1,154,000 | 1,188,000 | 1,107,000 | 1,120,000 | 1,134,000 | 1,139,000 | 1,121,000 | 1,166,000 | 1,164,000 | 1,141,000 | 612,000 | 114,000 | 123,000 | 119,000 | 6,830,000 |
| Total stockholders’ equity | US$ in thousands | 25,037,000 | 25,226,000 | 26,220,000 | 25,599,000 | 25,302,000 | 24,844,000 | 25,831,000 | 25,696,000 | 25,384,000 | 24,740,000 | 25,385,000 | 24,538,000 | 24,824,000 | 24,106,000 | 24,561,000 | 23,825,000 | 24,309,000 | 25,015,000 | 25,810,000 | 74,571,000 |
| Return on total capital | -7.39% | -6.36% | -6.29% | -6.34% | -7.32% | -8.14% | -8.22% | -9.30% | -9.88% | -1.84% | -1.97% | -4.06% | -5.10% | -6.00% | -6.19% | -4.17% | -5.64% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-2,029,000K ÷ ($2,434,000K + $25,037,000K)
= -7.39%
Corteva Inc's return on total capital has been relatively stable over the past eight quarters, ranging from 5.28% in Q1 2022 to 7.70% in Q4 2023. The company's return on total capital indicates its ability to generate profits from both its debt and equity capital. Overall, the trend shows a positive performance in effectively utilizing capital to generate returns for shareholders. However, it is important to closely monitor any fluctuations in this ratio to assess the company's long-term profitability and sustainable growth.
Peer comparison
Dec 31, 2023
Company name
Symbol
Return on total capital
Corteva Inc
CTVA
-7.39%
Fresh Del Monte Produce Inc
FDP
1.62%