Helix Energy Solutions Group Inc (HLX)

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	28,892	51,794	15,727	-22,795	-55,065	-91,808	-98,472	-84,973	-47,039	-10,868	40,874	62,998	34,011	41,182	46,372	61,789	96,964	75,774	68,979	67,327
Long-term debt	US$ in thousands	313,430	218,508	222,469	222,008	225,875	225,427	258,977	258,496	262,137	261,668	265,222	299,560	258,912	283,545	304,834	303,584	306,122	304,932	307,455	381,319
Total stockholders’ equity	US$ in thousands	1,501,000	1,530,520	1,531,930	1,515,720	1,516,710	1,481,850	1,531,790	1,592,750	1,647,470	1,669,660	1,700,060	1,707,460	1,740,500	1,705,490	1,654,700	1,649,060	1,699,590	1,679,020	1,648,400	1,629,840
Return on total capital		1.59%	2.96%	0.90%	-1.31%	-3.16%	-5.38%	-5.50%	-4.59%	-2.46%	-0.56%	2.08%	3.14%	1.70%	2.07%	2.37%	3.16%	4.83%	3.82%	3.53%	3.35%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $28,892K ÷ ($313,430K + $1,501,000K)
= 1.59%

Based on the data provided, Helix Energy Solutions Group Inc's return on total capital has shown a varying trend over the past eight quarters. The return on total capital has improved consistently from negative figures in the first and second quarters of 2022 to positive figures in the last four quarters of 2023. This indicates an overall positive performance in generating returns relative to the total capital employed.

The return on total capital ranged from a low of -4.30% in Q2 2022 to a high of 5.81% in Q4 2023. The steady improvement in the return on total capital demonstrates an increasing efficiency in utilizing the company's total capital to generate profits.

It is worth noting that while the return on total capital has been positive in the recent quarters, there is still room for further enhancement to ensure sustained profitability and value creation for the company and its stakeholders. Continued monitoring and analysis of this ratio will be essential to assess the company's financial performance and efficiency in capital allocation.