Innospec Inc (IOSP)

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	161,600	163,700	171,900	184,000	187,300	176,200	157,500	148,200	132,100	126,000	111,400	21,000	33,700	48,100	69,500	154,600	149,900	149,000	144,200	140,800
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	0	0	0	38,800	58,700	58,600	131,200	136,500	186,300
Total stockholders’ equity	US$ in thousands	1,147,100	1,125,400	1,092,200	1,078,200	1,038,000	1,089,400	1,067,900	1,068,200	1,032,400	992,500	973,600	958,600	944,400	-64,300	899,200	943,800	-74,400	881,800	862,700	848,400
Return on total capital		14.09%	14.55%	15.74%	17.07%	18.04%	16.17%	14.75%	13.87%	12.80%	12.70%	11.44%	2.19%	3.57%	—	7.41%	15.42%	—	14.71%	14.43%	13.61%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $161,600K ÷ ($—K + $1,147,100K)
= 14.09%

Innospec Inc's return on total capital has exhibited some fluctuations over the past eight quarters. The trend shows a gradual increase from Q1 2022 to Q1 2023, with the ratio peaking at 17.07% in Q1 2023. However, in Q2 2023, there was a slight drop to 15.74% followed by further decline in Q3 2023 to 14.55% and then to 14.09% in Q4 2023.

Overall, despite the slight decrease in the latter quarters of the data provided, the return on total capital for Innospec Inc remains relatively healthy and indicates that the company is generating a reasonable return on its total capital investments. Further analysis and comparison with industry benchmarks could provide more insights into the company's performance.