Edwards Lifesciences Corp (EW)

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	1,534,100	1,581,800	1,565,800	1,698,100	1,748,500	1,675,100	1,663,000	1,745,600	1,690,300	1,667,300	1,634,800	923,000	897,600	857,000	793,500	1,230,700	1,146,800	830,700	785,300	769,900
Long-term debt	US$ in thousands	597,000	596,800	596,700	596,500	596,300	596,200	596,000	595,900	595,700	595,500	595,400	595,200	595,000	594,900	594,700	594,600	594,400	594,200	594,100	593,900
Total stockholders’ equity	US$ in thousands	6,650,000	6,657,500	6,375,700	5,978,000	5,806,700	6,217,800	5,943,600	5,844,900	5,835,900	5,541,300	5,133,300	4,658,400	4,574,300	4,210,300	3,839,100	3,901,100	4,148,300	3,814,800	3,500,300	3,447,500
Return on total capital		21.17%	21.80%	22.46%	25.83%	27.31%	24.58%	25.43%	27.10%	26.28%	27.17%	28.54%	17.57%	17.36%	17.83%	17.90%	27.38%	24.18%	18.84%	19.18%	19.05%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,534,100K ÷ ($597,000K + $6,650,000K)
= 21.17%

Based on the data provided, Edwards Lifesciences Corp has shown a consistent and strong performance in terms of return on total capital over the past eight quarters. The company's return on total capital has ranged between 23.84% and 27.93% during this period.

The trend indicates that Edwards Lifesciences Corp has been effectively utilizing its total capital to generate profits. The company's ability to generate returns on the total capital invested reflects its operational efficiency and financial management.

The slight fluctuations in the return on total capital over the quarters may be influenced by various factors, such as changes in operating expenses, debt levels, or revenue growth. Overall, the consistently high levels of return on total capital demonstrate that Edwards Lifesciences Corp is efficiently utilizing its capital resources to drive profitability and create value for its shareholders.