Kellanova (K)
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 | 1,965,000 | 1,313,000 | 1,188,000 | 1,107,000 | 1,034,000 | 1,087,000 | 1,157,000 | 1,187,000 | 1,415,000 | 2,099,000 | 2,124,000 | 2,239,000 | 2,189,000 | 1,933,000 | 1,967,000 | 1,913,000 | 1,882,000 | 1,828,000 | 1,760,000 | 1,666,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 3,775,000 | 3,650,000 | 3,307,000 | 3,152,000 | 3,175,000 | 4,038,000 | 3,965,000 | 4,052,000 | 3,941,000 | 4,283,000 | 4,082,000 | 3,795,000 | 3,720,000 | 3,484,000 | 3,362,000 | 3,138,000 | 3,112,000 | 3,044,000 | 2,870,000 | 2,674,000 |
| Return on total capital | 52.05% | 35.97% | 35.92% | 35.12% | 32.57% | 26.92% | 29.18% | 29.29% | 35.90% | 49.01% | 52.03% | 59.00% | 58.84% | 55.48% | 58.51% | 60.96% | 60.48% | 60.05% | 61.32% | 62.30% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,965,000K ÷ ($—K + $3,775,000K)
= 52.05%
The return on total capital for Kellanova has exhibited fluctuating trends during the period under review. Starting at 62.30% as of March 31, 2020, the return gradually decreased to 52.03% by June 30, 2022, reflecting a downward trend. However, there was a notable recovery as the return on total capital increased to 52.05% by December 31, 2024, reaching a level higher than the one observed at the beginning of the period.
Overall, it is essential to analyze the factors influencing these fluctuations in the return on total capital, including changes in financial performance, capital structure, and management efficiency, to assess Kellanova's ability to generate returns on its total capital over time effectively.
Peer comparison
Dec 31, 2024