Ormat Technologies Inc (ORA)

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	229,263	192,650	187,017	180,197	168,326	192,440	183,880	181,992	169,600	173,947	187,563	206,240	230,412	224,498	217,009	214,338	214,092	230,081	215,239	207,921
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	296,382	975,973	1,005,160	1,377,210	1,375,370	1,106,930	995,959	1,011,930	1,030,940	1,116,420	1,111,700
Total stockholders’ equity	US$ in thousands	2,315,430	2,278,830	2,254,390	2,184,540	1,867,570	1,846,500	1,832,630	1,870,670	1,855,000	1,833,380	1,825,080	1,816,610	1,805,980	1,439,740	1,428,400	1,409,060	1,392,420	1,380,730	1,369,560	1,340,350
Return on total capital		9.90%	8.45%	8.30%	8.25%	9.01%	10.42%	10.03%	9.73%	9.14%	8.17%	6.70%	7.31%	7.24%	7.97%	8.56%	8.91%	8.90%	9.54%	8.66%	8.48%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $229,263K ÷ ($—K + $2,315,430K)
= 9.90%

Ormat Technologies Inc's return on total capital has shown a relatively stable performance over the past eight quarters, ranging from 3.87% to 4.70%. The company's ability to generate returns on its total capital has been consistent, with the latest quarter showing a return of 4.43%. This indicates that Ormat Technologies has been effectively utilizing its total capital to generate profits for its shareholders. Overall, the company has maintained a stable return on total capital, reflecting efficient management of its resources and investments over the analyzed period.