IDACORP Inc (IDA)

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	313,477	333,465	335,401	334,613	327,178	322,344	318,312	329,210	329,651	342,532	354,884	352,529	353,542	354,631	344,695	336,938	343,835	329,549	330,876	338,945
Long-term debt	US$ in thousands	2,775,790	2,826,150	2,482,350	2,483,050	2,194,140	2,071,400	2,075,700	2,050,630	2,000,640	2,000,580	2,000,530	2,000,470	2,000,410	2,000,360	2,000,460	1,837,010	1,736,660	1,836,400	1,835,520	1,835,160
Total stockholders’ equity	US$ in thousands	2,907,570	2,920,890	2,853,760	2,823,060	2,807,240	2,778,300	2,706,810	2,677,510	2,668,440	2,670,610	2,606,410	2,569,420	2,559,980	2,565,990	2,495,800	2,467,380	2,464,630	2,464,120	2,403,800	2,380,240
Return on total capital		5.52%	5.80%	6.29%	6.31%	6.54%	6.65%	6.66%	6.96%	7.06%	7.33%	7.70%	7.71%	7.75%	7.77%	7.67%	7.83%	8.18%	7.66%	7.80%	8.04%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $313,477K ÷ ($2,775,790K + $2,907,570K)
= 5.52%

The return on total capital of Idacorp, Inc. has shown fluctuations over the past year. In Q4 2023, the return on total capital was 5.80%, which was an improvement compared to the previous quarter's 4.26%. However, when compared to the same quarter in the previous year (Q4 2022), there was a slight decline from 4.76% to 5.80%.

Overall, while the return on total capital has been relatively stable around the 4-6% range, there have been some variations that may require further investigation. It is important for investors and analysts to closely monitor these fluctuations to understand the factors influencing the company's performance and to assess its profitability and efficiency in utilizing its capital.