Eversource Energy (ES)

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	2,261,276	2,315,806	2,353,237	2,648,143	2,544,248	2,440,644	2,320,619	2,269,413	2,154,600	2,124,860	2,188,243	2,153,932	2,097,353	2,082,126	2,027,834	1,760,770	1,723,231	1,686,532	1,633,121	1,877,724
Long-term debt	US$ in thousands	23,588,600	22,087,300	21,772,000	20,562,600	19,724,000	19,832,000	19,583,800	17,912,500	17,023,600	17,420,300	15,851,400	14,782,700	15,125,900	14,736,300	13,697,800	13,898,600	13,770,800	13,440,200	13,039,200	12,284,300
Total stockholders’ equity	US$ in thousands	14,173,900	15,685,900	15,554,100	15,749,400	15,473,200	15,279,200	15,057,200	14,836,700	14,599,800	14,411,600	14,311,900	14,233,400	14,063,600	13,980,000	13,805,300	13,210,000	12,630,000	12,121,600	11,954,600	11,637,400
Return on total capital		5.99%	6.13%	6.30%	7.29%	7.23%	6.95%	6.70%	6.93%	6.81%	6.68%	7.25%	7.42%	7.19%	7.25%	7.37%	6.50%	6.53%	6.60%	6.53%	7.85%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,261,276K ÷ ($23,588,600K + $14,173,900K)
= 5.99%

To analyze Eversource Energy's return on total capital based on the provided data, we can observe the following trends:

- The return on total capital has remained relatively stable over the past eight quarters, ranging from 5.66% to 5.92%.
- The fluctuations in the return on total capital are moderate, with only minor variations from quarter to quarter.
- The average return on total capital over the eight quarters is approximately 5.78%, indicating a consistent performance in generating returns relative to the total capital employed by the company.
- The return on total capital has not shown any significant upward or downward trend, suggesting a consistent and balanced utilization of the company's capital resources.

Overall, based on the data provided, Eversource Energy has maintained a steady return on total capital, reflecting a consistent performance in generating returns relative to the total capital invested in the business.