Regenxbio Inc (RGNX)

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	-268,128	-259,893	-264,463	-252,674	-257,151	112,443	130,277	140,323	167,524	-200,053	-134,406	-124,966	-119,233	-105,906	-155,753	-150,792	-148,998	-106,224	-93,053	-49,831
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	311,742	363,100	405,855	465,139	516,195	563,824	630,519	689,669	764,298	461,414	507,245	554,504	377,753	415,660	397,861	420,152	450,197	468,395	494,592	487,053
Return on total capital		-86.01%	-71.58%	-65.16%	-54.32%	-49.82%	19.94%	20.66%	20.35%	21.92%	-43.36%	-26.50%	-22.54%	-31.56%	-25.48%	-39.15%	-35.89%	-33.10%	-22.68%	-18.81%	-10.23%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-268,128K ÷ ($—K + $311,742K)
= -86.01%

Regenxbio Inc's return on total capital has shown a significant decline over the past four quarters, with the ratio deteriorating from -50.93% in Q4 2022 to -86.01% in Q4 2023. This indicates that the company's ability to generate returns from its total capital has weakened notably. The negative trend suggests that Regenxbio Inc may be facing challenges in utilizing its capital efficiently to generate profits. Further analysis and investigation into the factors contributing to this decline would be necessary to determine the underlying causes and potential strategies for improvement.