Maximus Inc (MMS)

Return on total capital

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	488,499	475,867	392,516	327,527	294,794	310,194	306,363	319,146	325,898	279,551	356,300	393,678	398,946	415,514	370,846	296,064	289,121	282,122	279,567	324,089
Long-term debt	US$ in thousands	1,091,950	1,100,700	1,121,340	1,222,240	1,163,150	1,223,130	1,205,030	1,486,980	1,292,480	1,423,280	1,387,390	1,515,090	1,429,140	1,633,140	250,601	18,481	18,017	145,161	150,155	—
Total stockholders’ equity	US$ in thousands	1,842,820	1,818,720	1,789,140	1,717,810	1,667,840	1,632,850	1,601,720	1,581,010	1,549,370	1,521,560	1,554,220	1,528,430	1,480,330	1,453,450	1,369,900	1,298,310	1,241,820	1,194,950	1,138,470	1,299,000
Return on total capital		16.65%	16.30%	13.49%	11.14%	10.41%	10.86%	10.92%	10.40%	11.47%	9.49%	12.11%	12.93%	13.71%	13.46%	22.88%	22.48%	22.95%	21.05%	21.69%	24.95%

September 30, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $488,499K ÷ ($1,091,950K + $1,842,820K)
= 16.65%

Maximus Inc's return on total capital has shown fluctuations over the past few quarters. The return on total capital ranged from 9.49% to 24.95% over the last eight quarters, with the most recent figure as of September 30, 2024, standing at 16.65%. The company's return on total capital peaked in the first quarter of 2021 at 24.95% and hit a low point in the second quarter of 2022 at 9.49%.

Overall, Maximus Inc has generally maintained a healthy return on total capital, indicating its ability to generate profits from its capital investments. However, the fluctuations in the ratio suggest varying levels of efficiency and profitability in utilizing its total capital over the analyzed period. Further analysis and comparison with industry peers can provide additional insights into the company's performance and strategies.