TTM Technologies Inc (TTMI)

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	48,421	112,764	180,024	199,611	228,380	165,264	139,922	136,276	115,528	110,356	53,049	207,160	220,800	235,599	298,629	126,254	125,793	121,254	137,534	152,516
Long-term debt	US$ in thousands	914,336	864,824	864,413	879,993	879,407	929,004	928,605	928,210	927,818	926,922	926,523	926,128	842,853	840,023	832,834	1,229,370	1,225,960	1,472,580	1,469,270	1,466,010
Total stockholders’ equity	US$ in thousands	1,511,040	1,501,110	1,544,310	1,527,730	1,535,580	1,522,470	1,474,080	1,447,830	1,455,420	1,466,590	1,470,370	1,442,470	1,444,010	1,399,300	1,433,960	1,277,200	1,279,040	1,247,350	1,229,080	1,226,860
Return on total capital		2.00%	4.77%	7.47%	8.29%	9.46%	6.74%	5.82%	5.74%	4.85%	4.61%	2.21%	8.75%	9.66%	10.52%	13.17%	5.04%	5.02%	4.46%	5.10%	5.66%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $48,421K ÷ ($914,336K + $1,511,040K)
= 2.00%

The return on total capital for TTM Technologies Inc has displayed some variability over the past quarters. The ratio ranged from a low of 2.00% in December 2023 to a high of 13.17% in June 2020.

Overall, the return on total capital has shown a declining trend in recent quarters, with the profitability of the company's total capital decreasing. The company's ability to generate profits from its total capital has decreased from the previous high levels seen in mid-2020.

It is essential for TTM Technologies Inc to closely monitor and manage its capital allocation and utilization to improve its return on total capital and enhance overall financial performance in the future.