N-Able Inc (NABL)

Return on total capital

		Dec 31, 2024	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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	84,301	94,575	86,325	80,042	74,618	66,868	58,139	51,598	46,422	35,822	37,319	36,849	31,323	25,362	14,720	18,420	24,073
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	759,288	764,951	724,370	709,062	711,360	674,680	668,907	656,195	642,071	594,132	605,994	618,555	618,355	617,907	633,275	614,732	631,197
Return on total capital		11.10%	12.36%	11.92%	11.29%	10.49%	9.91%	8.69%	7.86%	7.23%	6.03%	6.16%	5.96%	5.07%	4.10%	2.32%	3.00%	3.81%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $84,301K ÷ ($—K + $759,288K)
= 11.10%

N-Able Inc's return on total capital has shown a fluctuating trend over the reported periods. Starting at 3.81% on December 31, 2020, it experienced a slight decline to 3.00% by March 31, 2021, followed by a further decrease to 2.32% by June 30, 2021.

However, there was a notable improvement in performance from September 30, 2021, with the return on total capital rising to 4.10% and continuing to increase steadily. The metric reached its peak at 12.36% on September 30, 2024, showing a consistent positive trajectory over the period.

The return on total capital reflects the company's efficiency in generating returns from its total invested capital, indicating an improvement in the company's capital utilization and overall financial performance. It is essential for investors and stakeholders to monitor this ratio to assess the company's ability to generate value from the capital employed in its operations.