Spire Inc (SR)

Return on total capital

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	510,700	495,900	481,100	442,500	442,000	598,000	605,500	580,000	526,500	473,000	479,400	496,800	531,300	429,600	303,900	235,700	206,500	185,800	299,000	323,600
Long-term debt	US$ in thousands	3,704,400	3,422,300	3,421,400	3,247,800	3,554,000	3,553,300	3,702,500	3,156,300	2,958,500	3,207,900	3,207,300	3,206,800	2,939,100	2,939,000	2,692,500	2,517,600	2,423,700	2,478,300	2,484,800	2,484,400
Total stockholders’ equity	US$ in thousands	3,232,700	3,333,200	3,390,300	3,050,800	2,917,300	2,932,500	2,986,500	2,864,100	2,818,500	2,845,900	2,841,200	2,669,800	2,658,200	2,697,100	2,731,300	2,586,800	2,522,300	2,558,400	2,665,600	2,586,000
Return on total capital		7.36%	7.34%	7.06%	7.03%	6.83%	9.22%	9.05%	9.63%	9.11%	7.81%	7.93%	8.45%	9.49%	7.62%	5.60%	4.62%	4.18%	3.69%	5.81%	6.38%

September 30, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $510,700K ÷ ($3,704,400K + $3,232,700K)
= 7.36%

The return on total capital for Spire Inc has shown stability over the recent quarters, averaging around 7-9%. The return on total capital indicates the company's ability to generate profits from its total invested capital, including both debt and equity. The consistent performance of the return on total capital suggests that Spire Inc is effectively utilizing its capital to generate returns for its investors. However, there was a slight decrease in the return on total capital in the most recent quarter compared to the previous one. It is important for Spire Inc to continue monitoring and managing its capital efficiency to sustain and potentially improve its return on total capital in the future.