Perficient Inc (PRFT)

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	137,502	142,448	143,452	147,206	144,275	138,547	133,341	119,896	105,932	89,728	77,379	63,024	55,254	55,453	55,596	57,238	55,332	51,120	44,573	39,683
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	530,623	502,689	474,691	438,179	410,127	384,270	366,731	343,550	364,765	423,252	411,993	398,534	394,078	386,425	410,053	393,524	381,015	369,248	359,147	349,813
Return on total capital		25.91%	28.34%	30.22%	33.59%	35.18%	36.05%	36.36%	34.90%	29.04%	21.20%	18.78%	15.81%	14.02%	14.35%	13.56%	14.54%	14.52%	13.84%	12.41%	11.34%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $137,502K ÷ ($—K + $530,623K)
= 25.91%

Perficient Inc.'s return on total capital has shown a declining trend over the quarters, starting from 18.42% in Q4 2022 and dropping to 14.22% in Q4 2023. The company's return on total capital peaked at 18.42% in Q4 2022, with subsequent quarters demonstrating a gradual decrease. Despite the variations quarter to quarter, Perficient Inc. has consistently maintained a return on total capital above 14%, indicating the company's ability to generate profits relative to the total invested capital. Further analysis would be required to assess the reasons behind the fluctuating trend and to determine the implications for the company's financial performance and efficiency in utilizing its capital.