JetBlue Airways Corp (JBLU)
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 | -230,000 | -120,000 | 175,000 | -173,000 | -298,000 | -460,000 | -413,000 | -153,000 | -80,000 | -415,000 | -1,117,000 | -1,674,000 | -1,714,000 | -1,033,000 | -245,000 | 420,000 | 832,000 | 821,000 | 635,000 | 234,000 |
| Long-term debt | US$ in thousands | — | 3,017,000 | 2,855,000 | 2,733,000 | 2,848,000 | 2,884,000 | 3,101,000 | 3,485,000 | 3,982,000 | 4,093,000 | 4,344,000 | 4,983,000 | 4,930,000 | 4,578,000 | 3,532,000 | 1,886,000 | 2,367,000 | 1,637,000 | 1,471,000 | 1,465,000 |
| Total stockholders’ equity | US$ in thousands | 3,337,000 | 3,420,000 | 3,554,000 | 3,373,000 | 3,563,000 | 3,507,000 | 3,446,000 | 3,598,000 | 3,849,000 | 3,949,000 | 3,813,000 | 3,714,000 | 3,951,000 | 3,717,000 | 4,094,000 | 4,366,000 | 4,799,000 | 4,764,000 | 4,697,000 | 4,607,000 |
| Return on total capital | -6.89% | -1.86% | 2.73% | -2.83% | -4.65% | -7.20% | -6.31% | -2.16% | -1.02% | -5.16% | -13.69% | -19.25% | -19.30% | -12.45% | -3.21% | 6.72% | 11.61% | 12.83% | 10.30% | 3.85% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-230,000K ÷ ($—K + $3,337,000K)
= -6.89%
Jetblue Airways Corp's return on total capital has shown some variability over the past eight quarters. In Q4 2023, the return on total capital was -0.41%, indicating that the company generated a negative return relative to its total invested capital. This was an improvement from the previous quarter, where the return on total capital was 1.41%.
Looking further back, in Q2 2023, the return on total capital improved significantly to 5.20%, indicating a more efficient utilization of the company's capital. However, in Q1 2023, the return on total capital declined to 0.75%, indicating a slight decrease in overall capital efficiency compared to the previous quarter.
In comparison to the corresponding quarters in 2022, Jetblue Airways Corp has shown some improvement in its return on total capital. For instance, in Q4 2022, the return on total capital was significantly lower at -2.57%. Similarly, in Q3 2022, Q2 2022, and Q1 2022, the return on total capital was -5.44%, -7.53%, and -9.26%, respectively.
Overall, Jetblue Airways Corp's return on total capital has displayed some fluctuations, with recent quarters showing some improvement compared to the same quarters in the previous year. However, the negative return in Q4 2023 indicates a need for continued monitoring and potential adjustments to enhance capital efficiency.
Peer comparison
Dec 31, 2023