Glaukos Corp (GKOS)

Return on total capital

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Earnings before interest and tax (EBIT) (ttm) US$ in thousands -120,311 -124,935 -127,284 -126,323 -120,129 -114,592 -111,431 -124,645 -84,709 -75,767 -42,074 -13,815 -35,895 -28,476 -50,673 -83,902 -123,553 -141,858 -141,921 -100,964
Long-term debt US$ in thousands — 56,759 56,692 283,117 282,773 282,430 282,087 281,743 281,400 281,056 280,713 280,370 280,026 279,683 — — 189,416 186,676 183,999 —
Total stockholders’ equity US$ in thousands 766,931 668,509 665,159 450,730 461,766 477,659 488,811 508,514 530,005 548,554 562,477 597,564 587,151 601,049 584,325 589,774 667,449 661,563 662,424 641,299
Return on total capital -15.69% -17.23% -17.63% -17.21% -16.13% -15.08% -14.45% -15.77% -10.44% -9.13% -4.99% -1.57% -4.14% -3.23% -8.67% -14.23% -14.42% -16.72% -16.77% -15.74%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-120,311K ÷ ($—K + $766,931K)
= -15.69%

Glaukos Corp's return on total capital has been negative consistently over the period from March 31, 2020, to December 31, 2024. The company's return on total capital ranged from -1.57% to -17.63% during this time frame. The trend shows a decline in the return on total capital from 2020 to 2024, with a slight improvement in the last quarter of 2024. This indicates that the company may not be effectively generating returns from its total capital investments and may need to reassess its capital allocation strategies to improve profitability.