Waters Corporation (WAT)
Return on total capital
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 826,353 | 798,313 | 766,607 | 777,354 | 817,676 | 839,736 | 852,320 | 852,093 | 873,395 | 849,312 | 849,117 | 845,907 | 821,707 | 823,218 | 788,748 | 747,218 | 644,520 | 617,226 | 632,620 | 655,040 |
| Long-term debt | US$ in thousands | 1,626,490 | 1,826,250 | 2,006,010 | — | 2,305,510 | 2,455,260 | 2,580,200 | 1,430,130 | 1,524,880 | 1,494,630 | 1,434,370 | 1,444,120 | 1,513,870 | 1,613,620 | 1,603,370 | 1,603,090 | 1,206,520 | 1,421,340 | 1,546,160 | 1,845,980 |
| Total stockholders’ equity | US$ in thousands | 1,828,510 | 1,603,100 | 1,411,970 | 1,256,520 | 1,150,340 | 905,522 | 771,229 | 599,823 | 504,488 | 385,236 | 392,124 | 374,937 | 367,554 | 295,222 | 268,273 | 230,962 | 232,144 | -41,581 | -191,742 | -337,999 |
| Return on total capital | 23.92% | 23.28% | 22.43% | 61.87% | 23.66% | 24.99% | 25.43% | 41.98% | 43.04% | 45.18% | 46.49% | 46.50% | 43.67% | 43.13% | 42.14% | 40.74% | 44.80% | 44.73% | 46.71% | 43.44% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $826,353K ÷ ($1,626,490K + $1,828,510K)
= 23.92%
Waters Corporation's return on total capital has shown variability over the periods analyzed. The ratio reached a high of 61.87% in March 31, 2024, indicating that the company generated $0.6187 in net income for every $1 of total capital employed. However, there was a significant decline in the subsequent periods, with the ratio dropping to 22.43% in June 30, 2024, and further to 23.92% by December 31, 2024.
Overall, the return on total capital for Waters Corporation has exhibited fluctuations, indicating changes in the efficiency and profitability of the company's capital utilization over time. Investors and analysts may want to further investigate the factors driving these fluctuations to assess the company's operational performance and future prospects.
Peer comparison
Dec 31, 2024