LeMaitre Vascular Inc (LMAT)

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	36,712	34,304	31,272	27,368	27,490	28,123	31,030	36,432	36,506	37,584	38,572	32,455	28,665	24,344	20,191	21,446	21,679	23,684	22,407	27,860
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	0	0	19,448	28,485	35,532	36,229	36,990	—	0	—	—	—
Total stockholders’ equity	US$ in thousands	297,900	288,637	283,827	274,165	268,201	261,247	258,033	257,787	254,151	249,048	185,833	177,525	172,572	160,983	152,629	148,835	148,141	142,316	137,537	133,088
Return on total capital		12.32%	11.88%	11.02%	9.98%	10.25%	10.76%	12.03%	14.13%	14.36%	15.09%	18.79%	15.75%	13.77%	12.34%	10.65%	14.41%	14.63%	16.64%	16.29%	20.93%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $36,712K ÷ ($—K + $297,900K)
= 12.32%

The return on total capital for Lemaitre Vascular Inc has shown some fluctuations over the quarters. In Q4 2023, the return on total capital was 12.49%, indicating that the company generated a return of 12.49% on its total capital employed during that period. This was a slight improvement compared to the previous quarter, where the return was 11.76%. However, it is lower than the levels seen in the earlier quarters of 2022, where the return on total capital ranged from 11.97% to 14.12%.

Overall, the return on total capital indicates the efficiency with which the company is utilizing its capital to generate profits. While the recent return of 12.49% is relatively healthy, it is important for Lemaitre Vascular Inc to maintain or improve this metric to ensure sustainable profitability and effective capital allocation in the long run.