The Mosaic Company (MOS)
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 | 1,338,100 | 1,760,200 | 2,769,100 | 4,074,100 | 4,785,300 | 5,054,400 | 4,601,300 | 3,411,100 | 2,468,500 | 1,793,600 | 1,190,500 | 792,300 | 412,900 | -1,076,500 | -1,035,500 | -1,363,200 | -1,094,900 | 357,700 | 611,500 | 1,049,700 |
| Long-term debt | US$ in thousands | 3,361,700 | 3,356,800 | 3,392,900 | 3,389,300 | 3,397,200 | 3,959,400 | 3,959,600 | 3,977,300 | 3,978,800 | 3,994,700 | 4,462,800 | 4,469,500 | 4,578,000 | 4,577,800 | 4,587,100 | 4,571,900 | 4,572,700 | 4,576,100 | 4,585,100 | 4,573,800 |
| Total stockholders’ equity | US$ in thousands | 12,290,200 | 12,050,300 | 12,405,000 | 11,893,800 | 12,054,600 | 11,580,600 | 11,751,300 | 11,638,400 | 10,604,100 | 10,420,400 | 10,338,000 | 9,624,200 | 9,581,400 | 8,532,800 | 8,493,000 | 8,386,200 | 9,185,500 | 10,100,400 | 10,473,000 | 10,601,200 |
| Return on total capital | 8.55% | 11.42% | 17.53% | 26.66% | 30.97% | 32.53% | 29.29% | 21.84% | 16.93% | 12.44% | 8.04% | 5.62% | 2.92% | -8.21% | -7.92% | -10.52% | -7.96% | 2.44% | 4.06% | 6.92% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,338,100K ÷ ($3,361,700K + $12,290,200K)
= 8.55%
The Return on Total Capital for Mosaic Company has shown a fluctuating trend over the past eight quarters. The ratio has ranged from a low of 8.71% in Q4 2023 to a high of 33.13% in Q3 2022.
The downward trend in return on total capital from Q3 2022 onwards could indicate potential challenges or inefficiencies in utilizing the company's capital effectively to generate returns. However, it's worth noting that even at its lowest point in Q4 2023, the return on total capital is still positive which suggests that the company is able to generate some return on its invested capital.
Investors and stakeholders may want to further investigate the factors contributing to the fluctuations in the return on total capital to assess the company's financial health and efficiency in capital allocation. Additional financial and operational metrics should be considered simultaneously to provide a more comprehensive analysis of Mosaic Company's overall performance.
Peer comparison
Dec 31, 2023