Hub Group Inc (HUBG)

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	222,640	293,603	365,792	439,012	474,588	487,758	430,141	329,451	238,213	151,174	125,192	109,461	105,443	114,501	118,621	138,882	154,864	179,636	265,892	254,741
Long-term debt	US$ in thousands	245,574	243,834	238,213	236,160	240,724	217,771	188,058	174,669	177,479	165,652	143,101	154,341	176,797	149,004	167,857	284,076	186,934	192,422	199,194	215,233
Total stockholders’ equity	US$ in thousands	1,634,640	1,629,070	1,610,740	1,659,050	1,599,600	1,517,380	1,535,190	1,426,970	1,340,310	1,255,120	1,207,080	1,176,500	1,157,920	1,135,010	1,105,840	1,088,710	1,075,280	1,044,560	1,032,580	1,007,060
Return on total capital		11.84%	15.68%	19.78%	23.16%	25.79%	28.11%	24.96%	20.57%	15.69%	10.64%	9.27%	8.22%	7.90%	8.92%	9.31%	10.12%	12.27%	14.52%	21.59%	20.84%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $222,640K ÷ ($245,574K + $1,634,640K)
= 11.84%

Hub Group, Inc.'s return on total capital has exhibited some fluctuations over the past eight quarters. The return on total capital ranged from 10.33% to 26.54% during this period. The trend shows a gradual decline from the highest point of 26.54% in Q3 2022 to the lowest point of 10.33% in Q4 2023.

Overall, the return on total capital has been somewhat volatile, with fluctuations of varying magnitudes. It is important for the company to closely monitor and analyze the factors influencing these fluctuations to maintain sustainable returns on total capital in the long term.