Curtiss-Wright Corporation (CW)
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 | 514,463 | 505,332 | 477,119 | 459,050 | 436,175 | 386,018 | 375,985 | 368,348 | 394,750 | 365,612 | 354,306 | 310,527 | 298,596 | 346,018 | 367,952 | 428,264 | 427,809 | 415,107 | 404,073 | 398,564 |
| Long-term debt | US$ in thousands | 1,050,360 | 1,050,710 | 1,176,070 | 1,229,620 | 1,051,900 | 1,141,210 | 1,006,580 | 967,744 | 1,050,610 | 957,101 | 957,504 | 957,907 | 958,292 | 1,058,710 | 834,802 | 906,220 | 760,639 | 761,057 | 761,476 | 761,894 |
| Total stockholders’ equity | US$ in thousands | 2,328,410 | 2,185,160 | 2,138,260 | 2,054,160 | 1,981,210 | 1,884,240 | 1,867,640 | 1,849,420 | 1,826,490 | 1,900,060 | 1,894,700 | 1,838,160 | 1,787,570 | 1,799,460 | 1,713,300 | 1,669,840 | 1,774,370 | 1,701,140 | 1,652,300 | 1,585,580 |
| Return on total capital | 15.23% | 15.62% | 14.40% | 13.98% | 14.38% | 12.76% | 13.08% | 13.08% | 13.72% | 12.80% | 12.42% | 11.11% | 10.87% | 12.11% | 14.44% | 16.62% | 16.88% | 16.86% | 16.74% | 16.98% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $514,463K ÷ ($1,050,360K + $2,328,410K)
= 15.23%
Curtiss-Wright Corp.'s return on total capital has shown a positive trend over the recent quarters, with an increasing pattern from Q1 2022 to Q3 2023. The return on total capital ranged from 11.98% in Q3 2022 to a peak of 14.87% in Q3 2023. This indicates that the company has been efficiently utilizing its capital to generate profits and create value for its stakeholders. The consistently above-average return on total capital suggests effective capital allocation and operational performance, which is a positive signal for investors and creditors. Overall, the company's ability to generate returns on its total capital has been on an upward trajectory, reflecting well on its financial management and business operations.
Peer comparison
Dec 31, 2023