EQT Corporation (EQT)
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 | 2,323,846 | 3,924,598 | 4,805,783 | 6,109,924 | 2,574,344 | 2,716,634 | -742,060 | -3,214,960 | -1,281,033 | -3,614,859 | -1,809,422 | -902,794 | -994,824 | -2,628,268 | -2,270,687 | -1,755,061 | -1,397,620 | -577,958 | -233,770 | -468,700 |
| Long-term debt | US$ in thousands | 5,502,680 | 5,501,270 | 4,257,640 | 5,058,560 | 5,256,330 | 4,347,330 | 4,601,170 | 26,000 | 4,530,100 | 704,000 | 0 | 300,000 | 4,771,300 | 244,500 | 38,000 | 799,574 | 5,276,780 | 3,800,000 | 3,900,000 | 4,600,000 |
| Total stockholders’ equity | US$ in thousands | 14,773,200 | 14,201,300 | 12,005,800 | 12,112,100 | 11,172,500 | 9,618,960 | 9,061,190 | 8,188,670 | 9,954,760 | 8,248,460 | 8,291,760 | 9,219,640 | 9,255,240 | 8,845,810 | 9,438,830 | 9,633,880 | 9,803,590 | 10,897,600 | 11,248,500 | 11,139,600 |
| Return on total capital | 11.46% | 19.92% | 29.55% | 35.58% | 15.67% | 19.45% | -5.43% | -39.14% | -8.84% | -40.38% | -21.82% | -9.48% | -7.09% | -28.91% | -23.96% | -16.82% | -9.27% | -3.93% | -1.54% | -2.98% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,323,846K ÷ ($5,502,680K + $14,773,200K)
= 11.46%
EQT Corp's return on total capital has displayed fluctuations over the recent quarters, ranging from negative figures to a high of 36.80%. The company's return on total capital was -20.39% in Q1 2022 and gradually improved to reach 30.17% in Q2 2023. This upward trend continued into Q3 2023, where the return on total capital further increased to 20.44%. However, in Q4 2023, the return on total capital decreased to 12.28%, indicating a slight decline in the company's ability to generate returns. Overall, EQT Corp's return on total capital has shown variability, which may reflect changes in the company's operational efficiency, capital structure, and overall performance.
Peer comparison
Dec 31, 2023