Minerals Technologies Inc (MTX)
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 | 167,000 | 141,700 | 176,700 | 194,800 | 198,200 | 218,600 | 250,500 | 244,600 | 238,200 | 227,600 | 213,500 | 176,100 | 175,000 | 171,100 | 177,300 | 196,500 | 198,700 | 214,200 | 225,900 | 249,200 |
| Long-term debt | US$ in thousands | 911,100 | 918,000 | 921,200 | 924,700 | 928,100 | 944,900 | 939,300 | 937,000 | 936,200 | 935,300 | 934,400 | 933,600 | 933,200 | 1,012,300 | 647,700 | 824,900 | 824,300 | 844,700 | 874,200 | 893,400 |
| Total stockholders’ equity | US$ in thousands | 1,652,000 | 1,589,100 | 1,626,500 | 1,622,800 | 1,579,500 | 1,502,000 | 1,543,400 | 1,562,000 | 1,539,300 | 1,506,300 | 1,499,700 | 1,464,000 | 1,460,800 | 1,438,100 | 1,406,500 | 1,379,800 | 1,402,700 | 1,402,700 | 1,390,900 | 1,393,500 |
| Return on total capital | 6.52% | 5.65% | 6.94% | 7.65% | 7.90% | 8.93% | 10.09% | 9.79% | 9.62% | 9.32% | 8.77% | 7.34% | 7.31% | 6.98% | 8.63% | 8.91% | 8.92% | 9.53% | 9.97% | 10.90% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $167,000K ÷ ($911,100K + $1,652,000K)
= 6.52%
Minerals Technologies, Inc. has demonstrated relatively consistent performance in terms of return on total capital over the past eight quarters. The company's return on total capital ranged from 9.29% to 10.66% during this period. Overall, the return on total capital has been above 9% in all quarters, indicating that the company has been effectively utilizing its capital to generate profits. However, there has been a slight fluctuation in the returns, with the highest return of 10.66% observed in Q4 2023 and the lowest return of 9.29% in Q2 2023. This suggests that the company's capital efficiency may vary slightly from quarter to quarter, but it has generally remained within a stable range. Overall, the return on total capital reflects the company's effectiveness in generating profits relative to the total capital invested in the business.
Peer comparison
Dec 31, 2023