Green Brick Partners Inc (GRBK)

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	355,105	326,221	324,160	357,552	352,982	364,828	332,387	272,280	227,690	187,457	168,539	129,771	122,370	109,987	90,925	80,686	69,966	69,171	66,203	69,272
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,300,700	1,245,220	1,174,080	1,114,150	1,061,910	1,009,240	947,391	912,183	874,548	766,789	717,389	666,131	640,242	610,079	575,759	542,982	523,168	508,715	493,470	480,869
Return on total capital		27.30%	26.20%	27.61%	32.09%	33.24%	36.15%	35.08%	29.85%	26.04%	24.45%	23.49%	19.48%	19.11%	18.03%	15.79%	14.86%	13.37%	13.60%	13.42%	14.41%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $355,105K ÷ ($—K + $1,300,700K)
= 27.30%

Green Brick Partners Inc has maintained a healthy return on total capital over the recent quarters, with figures ranging from 21.94% to 26.91%. The company's ability to generate returns relative to the total capital employed in its operations has been consistent, showcasing efficient capital allocation and utilization. The slight decrease in Q3 2023 compared to previous quarters could indicate a potential need for further analysis to identify any underlying factors affecting the return on total capital. Overall, Green Brick Partners Inc's strong performance in terms of return on total capital demonstrates operational effectiveness and financial efficiency.