Haynes International Inc (HAYN)
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 | 59,667 | 59,496 | 62,795 | 70,697 | 64,974 | 60,095 | 44,282 | 23,772 | 7,897 | -8,597 | -19,871 | -30,609 | -20,722 | -6,166 | 8,697 | 23,957 | 20,487 | 14,356 | 11,069 | 4,134 |
| Long-term debt | US$ in thousands | 109,463 | 114,843 | 98,665 | 108,000 | 88,025 | 74,721 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 442,056 | 434,324 | 413,501 | 405,759 | 389,144 | 375,488 | 354,073 | 345,310 | 340,209 | 343,321 | 295,012 | 293,891 | 297,891 | 301,501 | 295,124 | 303,612 | 303,626 | 296,275 | 330,140 | 329,692 |
| Return on total capital | 10.82% | 10.83% | 12.26% | 13.76% | 13.62% | 13.35% | 12.51% | 6.88% | 2.32% | -2.50% | -6.74% | -10.42% | -6.96% | -2.05% | 2.95% | 7.89% | 6.75% | 4.85% | 3.35% | 1.25% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $59,667K ÷ ($109,463K + $442,056K)
= 10.82%
The return on total capital for Haynes International Inc. has exhibited some fluctuations in recent quarters. In Q1 2024, the return on total capital was 10.32%, slightly lower than the previous quarter's figure of 10.34% in Q4 2023. The return saw a significant decline in Q3 2023 at 11.61%, followed by a further decrease in Q2 2023 to 12.95%. Q1 2023 witnessed a return of 12.60%, while Q4 2022 had a higher return of 14.45%.
Compared to the recent quarters, the return on total capital was notably lower in Q3 2022 at 10.14% and even lower at 5.96% in Q2 2022. Overall, the trend in the return on total capital demonstrates some variability, with Q4 2022 showing the highest return and Q2 2022 showing the lowest.
Further analysis and comparison with industry benchmarks would be beneficial to assess the company's performance in effectively utilizing its total capital to generate returns for its stakeholders.
Peer comparison
Dec 31, 2023