Metallus Inc (MTUS)

Return on total capital

		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	Sep 30, 2019	Jun 30, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	110,800	99,100	91,200	44,300	80,700	101,100	166,700	230,200	210,400	183,000	112,000	49,600	-19,600	-48,100	-128,000	-136,300	-134,800	-110,400	-46,300	-16,900
Long-term debt	US$ in thousands	0	0	0	0	0	0	0	0	0	0	—	—	44,700	39,300	20,000	60,000	139,800	168,600	187,400	221,300
Total stockholders’ equity	US$ in thousands	739,300	731,600	730,300	711,800	691,400	686,500	735,100	768,900	703,200	664,600	620,600	570,000	513,300	507,500	514,400	527,000	542,100	563,100	650,300	673,700
Return on total capital		14.99%	13.55%	12.49%	6.22%	11.67%	14.73%	22.68%	29.94%	29.92%	27.54%	18.05%	8.70%	-3.51%	-8.80%	-23.95%	-23.22%	-19.77%	-15.09%	-5.53%	-1.89%

March 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $110,800K ÷ ($0K + $739,300K)
= 14.99%

Metallus Inc's return on total capital has shown fluctuations over the past few quarters. The return on total capital increased steadily from Jun 30, 2021, to Dec 31, 2021, reaching a peak of 29.92%. However, the return decreased sharply to -3.51% in Mar 31, 2022, and further declined to -8.80% by Dec 31, 2022.

There was a significant turnaround in the performance in the first quarter of 2023, with the return on total capital rising to 11.67%. This positive trend continued as the return increased to 14.99% by Mar 31, 2024, indicating an improvement in utilizing the total capital efficiently to generate returns for the company.

Overall, the company's return on total capital has shown volatility, with some periods of strong performance and others showing weaknesses. It is important for stakeholders to monitor this metric closely to assess the company's ability to generate profits from the capital invested.