United Therapeutics Corporation (UTHR)

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	1,333,600	1,198,700	1,153,000	959,800	967,500	961,700	849,000	913,400	637,100	532,600	547,500	465,800	608,500	606,700	561,400	684,500	-135,600	-67,600	-96,600	-141,800
Long-term debt	US$ in thousands	300,000	500,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	600,000	750,000	800,000	1,050,000
Total stockholders’ equity	US$ in thousands	5,984,800	5,712,100	5,411,000	5,123,200	4,796,700	4,562,200	4,318,400	4,176,300	3,958,900	3,829,700	3,639,500	3,445,400	3,395,200	3,283,100	3,093,700	2,948,500	2,780,400	2,715,800	2,558,400	2,319,000
Return on total capital		21.22%	19.30%	18.56%	16.20%	17.29%	17.93%	16.59%	18.36%	13.39%	11.50%	12.33%	10.97%	14.50%	14.86%	14.42%	18.26%	-4.01%	-1.95%	-2.88%	-4.21%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,333,600K ÷ ($300,000K + $5,984,800K)
= 21.22%

United Therapeutics Corp's return on total capital has remained relatively stable over the past eight quarters, ranging from 16.48% to 18.26%. This indicates that the company has been effectively utilizing its total capital to generate returns for its investors. The highest return was recorded in Q1 2022 at 18.26%, while the lowest was in Q1 2023 at 16.48%. Overall, the company has consistently demonstrated strong performance in terms of generating returns relative to its total capital invested. However, further analysis and comparison with industry peers may provide additional insights into the company's overall financial health and efficiency.