Manhattan Associates Inc (MANH)

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	209,881	195,721	179,043	165,813	152,700	135,138	140,776	142,880	134,333	135,387	127,955	115,290	114,061	110,933	110,954	111,844	115,924	125,131	126,230	134,333
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	278,278	210,105	170,550	181,072	226,800	198,134	208,735	217,136	250,644	238,627	212,450	204,660	218,897	187,977	152,778	125,869	142,278	151,650	154,687	145,400
Return on total capital		75.42%	93.15%	104.98%	91.57%	67.33%	68.21%	67.44%	65.80%	53.60%	56.74%	60.23%	56.33%	52.11%	59.01%	72.62%	88.86%	81.48%	82.51%	81.60%	92.39%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $209,881K ÷ ($—K + $278,278K)
= 75.42%

Manhattan Associates, Inc.'s return on total capital has shown fluctuating performance over the past eight quarters. The company's return on total capital reached its peak in Q2 2023 at 104.98% and remained relatively high in Q3 2023 at 93.15%. However, in Q4 2023, there was a slight decrease to 75.42%, which may indicate a potential decline in the company's efficiency in generating returns from its total capital compared to the previous quarters.

Comparing the latest results to the same quarter in the previous year, Manhattan Associates, Inc.'s return on total capital has shown improvement, as Q4 2023 (75.42%) outperformed Q4 2022 (67.33%). This positive trend indicates potential operational advancements by the company in utilizing its capital more effectively to generate returns.

Overall, Manhattan Associates, Inc. has demonstrated a strong ability to generate returns on its total capital over the past quarters, despite some fluctuations. Continued monitoring of this financial metric will be essential to assess the company's financial performance and efficiency in capital utilization in the future.