Teledyne Technologies Incorporated (TDY)

Return on total capital

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	1,035,300	997,100	624,600	485,000	494,700
Long-term debt	US$ in thousands	2,644,800	3,620,500	4,099,400	680,900	750,000
Total stockholders’ equity	US$ in thousands	9,221,200	8,169,200	7,622,000	3,228,600	2,714,700
Return on total capital		8.72%	8.46%	5.33%	12.41%	14.28%

December 31, 2023 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $1,035,300K ÷ ($2,644,800K + $9,221,200K)
= 8.72%

Teledyne Technologies Inc's return on total capital has experienced fluctuations over the past five years. The return on total capital was 8.30% as of December 31, 2023, showing a slight increase compared to the previous year's 8.04%. However, the return on total capital was notably lower at 5.33% on January 2, 2022.

The highest return on total capital for Teledyne Technologies Inc in the given period was noted at 13.79% as of December 29, 2019, followed by 11.98% on January 3, 2021. These figures indicate the company's ability to generate profits from its capital investments during those respective years.

Overall, while there have been fluctuations in Teledyne Technologies Inc's return on total capital, the company has generally demonstrated an ability to generate returns on its invested capital over the past five years.