Ichor Holdings Ltd (ICHR)

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	-13,020	-19,346	-23,227	-21,835	-11,699	14,055	51,665	80,015	86,386	84,123	72,667	72,516	80,207	78,461	69,450	53,559	41,018	32,762	23,837	17,540
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	698,336	697,275	694,876	697,232	564,677	572,679	577,303	593,464	587,496	569,845	537,324	511,829	500,715	480,656	458,483	431,062	411,689	254,667	238,190	229,520
Return on total capital		-1.86%	-2.77%	-3.34%	-3.13%	-2.07%	2.45%	8.95%	13.48%	14.70%	14.76%	13.52%	14.17%	16.02%	16.32%	15.15%	12.42%	9.96%	12.86%	10.01%	7.64%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-13,020K ÷ ($—K + $698,336K)
= -1.86%

The return on total capital of Ichor Holdings Ltd has fluctuated over the periods provided in the data. Starting at 7.64% in March 31, 2020, it experienced an overall increasing trend until reaching its peak at 16.32% in September 30, 2021. However, from that point on, the return on total capital started to decline. Despite some fluctuations, it remained above 10% until March 31, 2023. From then on, there was a significant decrease, resulting in negative returns on total capital from June 30, 2023, onwards. This negative trend continued until the end of the data set on December 31, 2024. It is important for stakeholders to further investigate the reasons behind this declining trend to assess the company's capital efficiency and overall financial health.