Monarch Casino & Resort Inc (MCRI)

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	108,834	111,672	116,025	112,384	110,563	107,675	97,130	95,717	86,416	82,412	72,299	44,344	36,632	24,626	22,521	39,635	45,645	45,272	46,015	44,324
Long-term debt	US$ in thousands	5,500	8,000	41,000	51,000	—	—	43,837	58,511	68,152	85,792	114,900	142,455	167,162	171,864	181,684	173,049	175,400	155,850	132,510	110,520
Total stockholders’ equity	US$ in thousands	513,140	502,447	481,812	463,406	538,954	515,370	486,336	465,189	448,014	424,395	401,087	379,910	368,067	353,530	340,422	344,094	341,201	332,693	321,125	310,157
Return on total capital		20.98%	21.88%	22.19%	21.85%	20.51%	20.89%	18.32%	18.28%	16.74%	16.15%	14.01%	8.49%	6.84%	4.69%	4.31%	7.66%	8.84%	9.27%	10.14%	10.54%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $108,834K ÷ ($5,500K + $513,140K)
= 20.98%

The return on total capital for Monarch Casino & Resort, Inc. has been consistently strong over the past eight quarters, ranging from 18.38% to 22.60%. This indicates that the company has been effective in generating a favorable return on the capital invested in its operations. The upward trend in the return on total capital reflects the company's ability to efficiently utilize its capital to generate profits. Overall, the steady and positive performance in this ratio suggest that Monarch Casino & Resort, Inc. is effectively managing its capital resources to create value for its stakeholders.