Myers Industries Inc (MYE)

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	72,405	70,824	72,018	78,493	83,941	77,669	69,589	62,841	49,301	43,407	44,730	41,117	53,550	57,500	52,420	50,346	37,266	35,493	1,594	4,523
Long-term debt	US$ in thousands	31,989	33,987	52,986	62,784	93,962	97,961	103,956	92,450	90,945	111,339	57,833	70,928	37,582	37,501	37,420	37,338	77,176	77,080	76,983	76,887
Total stockholders’ equity	US$ in thousands	292,800	282,221	274,422	265,247	256,427	244,977	237,258	224,138	209,325	205,525	201,981	194,253	189,100	187,598	181,695	176,223	166,682	163,820	162,410	158,426
Return on total capital		22.29%	22.40%	22.00%	23.93%	23.96%	22.65%	20.39%	19.85%	16.42%	13.70%	17.22%	15.51%	23.62%	25.54%	23.92%	23.57%	15.28%	14.73%	0.67%	1.92%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $72,405K ÷ ($31,989K + $292,800K)
= 22.29%

Myers Industries Inc.'s return on total capital has been relatively stable and consistently above 20% in recent quarters, ranging from 18.69% to 23.31%. The company's ability to generate returns on its total capital indicates efficient utilization of both debt and equity financing to generate profits. The upward trend from Q1 2022 to Q4 2022 suggests improving performance, peaking at 23.31% in Q4 2022 before slightly declining to 20.06% in Q4 2023. Overall, the company demonstrates strong operational efficiency and effective capital allocation, which may be viewed positively by investors and stakeholders.