VF Corporation (VFC)

Return on total capital

		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	Sep 30, 2019	Jun 30, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	11,351	196,144	704,182	240,681	217,677	583,891	749,153	1,415,982	1,830,391	1,781,998	1,547,293	1,299,688	668,539	256,981	356,417	585,031	927,805	1,310,926	1,247,430	1,209,604
Long-term debt	US$ in thousands	4,687,110	—	—	—	5,694,730	—	—	—	4,567,020	—	—	—	5,690,860	—	—	—	2,585,510	—	—	—
Total stockholders’ equity	US$ in thousands	1,658,360	2,109,190	2,210,040	2,716,760	2,910,710	3,319,630	3,085,640	3,352,490	3,530,360	3,653,400	3,598,480	3,274,030	3,056,160	3,138,170	2,945,240	2,912,600	3,357,330	4,567,590	4,647,620	4,151,610
Return on total capital		0.18%	9.30%	31.86%	8.86%	2.53%	17.59%	24.28%	42.24%	22.60%	48.78%	43.00%	39.70%	7.64%	8.19%	12.10%	20.09%	15.61%	28.70%	26.84%	29.14%

March 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $11,351K ÷ ($4,687,110K + $1,658,360K)
= 0.18%

VF Corporation's return on total capital has shown significant fluctuations over the past several quarters. The return on total capital for VF Corporation was 0.18% in March 2024, a significant decrease from the previous quarter. However, this figure was much lower compared to the return seen in prior periods, such as 31.86% in September 2023 and 48.78% in December 2021. These variations in return on total capital may indicate changes in the company's profitability and efficiency in utilizing its capital resources. Further analysis of VF Corporation's financial performance and operational strategies may be required to understand the factors driving these fluctuations in return on total capital.