Repligen Corporation (RGEN)

Return on total capital

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Earnings before interest and tax (EBIT)	US$ in thousands	44,957	56,207	195,941	173,114	74,557
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,972,720	1,971,200	397,272	1,750,070	65,769
Return on total capital		2.28%	2.85%	49.32%	9.89%	113.36%

December 31, 2024 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $44,957K ÷ ($—K + $1,972,720K)
= 2.28%

The Return on Total Capital for Repligen Corporation has displayed fluctuations over the years based on the provided data. In December 31, 2020, the return was significantly high at 113.36%, indicating efficient utilization of total capital to generate profits. However, there was a notable decrease in the Return on Total Capital for December 31, 2021, dropping to 9.89%. This decrease suggests a potential decline in the company's profitability compared to the previous year.

In the subsequent years, there was a recovery in the Return on Total Capital, with the ratio increasing to 49.32% in December 31, 2022. This uptrend indicates an improvement in the company's ability to generate profits relative to its total capital employed. Nevertheless, there was a substantial decline in the Return on Total Capital for December 31, 2023, dropping to 2.85%, which may raise concerns about the efficiency of capital utilization during that period.

The trend continued into December 31, 2024, with the Return on Total Capital decreasing further to 2.28%. This decline suggests a continued challenge in maintaining profitability relative to the capital invested. Overall, the fluctuating trend in the Return on Total Capital for Repligen Corporation highlights the importance of monitoring and managing capital efficiency to sustain and enhance profitability levels over time.