Harmonic Inc (HLIT)

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	65,259	21,472	-17,554	7,283	28,278	29,949	48,907	54,163	46,751	45,515	39,249	26,156	19,606	21,806	15,674	3,840	-11,024	-19,812	2,978	4,907
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	465,258	428,937	392,808	409,154	436,874	340,800	342,801	335,786	324,506	300,621	296,836	284,653	296,796	274,796	267,324	261,334	258,302	234,538	230,282	238,099
Return on total capital		14.03%	5.01%	-4.47%	1.78%	6.47%	8.79%	14.27%	16.13%	14.41%	15.14%	13.22%	9.19%	6.61%	7.94%	5.86%	1.47%	-4.27%	-8.45%	1.29%	2.06%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $65,259K ÷ ($—K + $465,258K)
= 14.03%

Analyzing the return on total capital for Harmonic Inc reveals fluctuations over the given time period. The ratio ranged from a low of -8.45% in September 2020 to a peak of 16.13% in March 2023. In general, the return on total capital showed a gradual improvement from negative percentages in 2020 to positive percentages in the following years. There was a notable spike in performance in June 2022, where the ratio reached 13.22%. However, there were some periods of decline, such as in June 2024 when the return dipped to -4.47%. Overall, Harmonic Inc's return on total capital demonstrated variability, with both peaks and troughs throughout the analyzed time frame.