Landstar System Inc (LSTR)

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	344,149	393,916	447,066	509,534	571,083	595,489	593,403	565,233	505,668	441,340	392,280	302,213	252,950	235,057	223,343	272,013	298,904	318,473	334,903	337,478
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	983,923	1,043,150	993,561	935,652	887,221	873,173	856,870	856,149	862,010	899,690	830,173	762,919	691,835	705,634	649,121	627,095	721,469	755,975	728,300	728,260
Return on total capital		34.98%	37.76%	45.00%	54.46%	64.37%	68.20%	69.25%	66.02%	58.66%	49.05%	47.25%	39.61%	36.56%	33.31%	34.41%	43.38%	41.43%	42.13%	45.98%	46.34%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $344,149K ÷ ($—K + $983,923K)
= 34.98%

Landstar System Inc's return on total capital has shown a generally positive trend, with a high of 69.25% in the second quarter of 2022 and a low of 33.31% in the third quarter of 2020. The company's return on total capital has displayed periodic fluctuations but generally remained above 30% over the past five years. This indicates that Landstar System Inc has been efficiently utilizing its capital to generate profits. The increasing trend in the return on total capital suggests improving profitability and effective allocation of resources within the company. Investors and stakeholders may view this positive trend favorably as it reflects the company's ability to generate substantial returns on the capital invested in its operations.