UNITIL Corporation (UTL)

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	87,100	84,900	84,100	84,200	80,500	81,300	81,300	80,200	77,800	76,700	76,900	77,200	71,400	68,100	70,700	71,900	73,100	73,300	73,600	71,900
Long-term debt	US$ in thousands	509,100	509,000	486,200	488,000	489,100	493,100	495,100	496,600	497,800	501,300	505,300	515,800	523,100	529,000	436,400	436,300	437,500	410,900	373,100	373,000
Total stockholders’ equity	US$ in thousands	489,300	479,800	484,400	486,400	467,600	458,800	464,300	465,300	448,500	439,600	400,800	403,300	389,200	380,800	385,700	387,900	376,800	370,000	373,000	373,900
Return on total capital		8.72%	8.59%	8.66%	8.64%	8.41%	8.54%	8.47%	8.34%	8.22%	8.15%	8.49%	8.40%	7.83%	7.49%	8.60%	8.72%	8.98%	9.39%	9.86%	9.63%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $87,100K ÷ ($509,100K + $489,300K)
= 8.72%

Unitil Corp.'s return on total capital has shown relatively stable performance in recent quarters, ranging from 7.44% to 7.58%. This indicates that the company is effectively generating returns from its total capital employed in its operations. The slight fluctuations in the return on total capital suggest that the company's capital utilization efficiency has been relatively consistent over the periods analyzed. Overall, the company's ability to generate returns on its total capital is relatively healthy and consistent, which is a positive indicator of its operational performance and financial management.