Patterson-UTI Energy Inc (PTEN)
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 | 360,314 | 364,800 | 427,884 | 354,091 | 208,118 | -267,690 | -432,277 | -575,179 | -675,269 | -440,009 | -463,867 | -513,954 | -890,248 | -847,319 | -1,038,996 | -926,608 | -455,174 | -583,713 | -357,403 | -317,554 |
| Long-term debt | US$ in thousands | 1,224,940 | 1,228,210 | 822,408 | 822,196 | 830,937 | 852,949 | 877,739 | 852,530 | 852,323 | 902,104 | 901,896 | 901,689 | 901,484 | 967,366 | 967,140 | 966,768 | 966,540 | 969,909 | 1,119,650 | 1,119,430 |
| Total stockholders’ equity | US$ in thousands | 4,812,290 | 4,851,210 | 1,720,170 | 1,672,960 | 1,665,520 | 1,634,380 | 1,576,080 | 1,576,700 | 1,609,490 | 1,725,640 | 1,807,720 | 1,912,150 | 2,016,060 | 2,119,560 | 2,228,870 | 2,378,890 | 2,833,620 | 2,942,990 | 3,278,310 | 3,403,370 |
| Return on total capital | 5.97% | 6.00% | 16.83% | 14.19% | 8.34% | -10.76% | -17.62% | -23.68% | -27.43% | -16.74% | -17.12% | -18.27% | -30.51% | -27.45% | -32.51% | -27.70% | -11.98% | -14.92% | -8.13% | -7.02% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $360,314K ÷ ($1,224,940K + $4,812,290K)
= 5.97%
Over the past eight quarters, Patterson-UTI Energy Inc's return on total capital has varied significantly. The company experienced a notable positive trend from Q1 2023 to Q3 2023, with return on total capital increasing from 13.59% to 16.60%. However, in Q4 2023, there was a slight decrease to 7.10%. Compared to the same quarter in the previous year, Q4 2023 showed an improvement as the return on total capital was higher at 7.10% compared to 8.03% in Q4 2022.
Additionally, it is important to note the significant negative returns experienced in Q2 2022 and Q1 2022, with return on total capital at -17.41% and -23.30% respectively. This suggests that Patterson-UTI Energy Inc faced challenges during those periods in generating returns on its total capital.
Overall, Patterson-UTI Energy Inc's return on total capital has shown fluctuations over the analyzed quarters, indicating the company's varying ability to generate returns for its capital providers.
Peer comparison
Dec 31, 2023