Light & Wonder Inc (LNW)

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	498,000	463,000	696,000	3,966,000	4,015,000	3,911,000	3,545,000	251,000	110,000	96,000	32,000	-92,000	-128,000	-222,000	-49,000	135,000	290,000	715,200	367,200	338,200
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	765,000	959,000	1,048,000	1,008,000	990,000	1,071,000	811,000	-2,289,000	-2,256,000	-2,335,000	-2,509,000	-2,656,000	-2,653,000	-2,541,000	-2,479,000	-2,358,000	-2,108,000	-2,125,000	-2,118,000	-2,423,000
Return on total capital		65.10%	48.28%	66.41%	393.45%	405.56%	365.17%	437.11%	—	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $498,000K ÷ ($—K + $765,000K)
= 65.10%

The return on total capital for Light & Wonder Inc has been showing a consistent growth trend over the past eight quarters. The company's return on total capital has gradually increased from 3.70% in Q1 2022 to 13.15% in Q4 2023. This indicates that the company has been efficiently utilizing its capital to generate profits for its investors. The increasing trend in the return on total capital signifies improved profitability and effective management of the company's operational and financial resources. Overall, Light & Wonder Inc's performance in terms of return on total capital has been positive and shows a favorable trajectory.