Comfort Systems USA Inc (FIX)
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 | 398,475 | 361,132 | 311,852 | 279,273 | 249,210 | 227,144 | 211,982 | 199,583 | 196,470 | 199,371 | 196,589 | 209,566 | 199,925 | 191,860 | 183,245 | 160,282 | 161,059 | 149,074 | 150,877 | 160,801 |
| Long-term debt | US$ in thousands | 39,345 | 33,932 | 133,945 | 197,761 | 247,245 | 378,192 | 403,192 | 412,079 | 385,242 | 266,772 | 156,272 | 171,752 | 235,733 | 222,213 | 231,442 | 333,113 | 205,318 | 228,167 | 284,667 | 74,483 |
| Total stockholders’ equity | US$ in thousands | 1,277,830 | 1,207,160 | 1,111,460 | 1,053,490 | 999,923 | 951,132 | 896,845 | 878,408 | 805,666 | 771,789 | 752,012 | 723,103 | 696,429 | 668,126 | 628,433 | 593,043 | 585,304 | 557,630 | 532,088 | 515,195 |
| Return on total capital | 30.25% | 29.10% | 25.04% | 22.32% | 19.98% | 17.09% | 16.31% | 15.47% | 16.50% | 19.20% | 21.64% | 23.42% | 21.45% | 21.55% | 21.31% | 17.31% | 20.37% | 18.97% | 18.47% | 27.27% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $398,475K ÷ ($39,345K + $1,277,830K)
= 30.25%
Comfort Systems USA, Inc.'s return on total capital has shown a positive trend over the past eight quarters, indicating effective capital utilization by the company. The return on total capital has consistently increased from 14.49% in Q1 2022 to 31.47% in Q4 2023, reflecting an upward trajectory in generating profits relative to the capital invested. This improvement suggests that the company has been successful in maximizing returns for its investors and efficiently managing its overall capital structure. Overall, the rising trend in return on total capital indicates that Comfort Systems USA, Inc. has been enhancing its operational performance and financial efficiency over the analyzed period.
Peer comparison
Dec 31, 2023