WEC Energy Group Inc (WEC)

Return on total capital

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	1,908,000	1,924,200	1,714,900	1,706,100	1,531,400
Long-term debt	US$ in thousands	15,366,900	14,655,700	13,472,400	11,672,800	11,171,400
Total stockholders’ equity	US$ in thousands	11,754,600	11,407,300	10,943,600	10,500,100	10,143,800
Return on total capital		7.04%	7.38%	7.02%	7.69%	7.18%

December 31, 2023 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $1,908,000K ÷ ($15,366,900K + $11,754,600K)
= 7.04%

WEC Energy Group Inc's return on total capital has been relatively stable over the past five years, ranging from 7.06% to 7.59%. This indicates that the company has been able to generate consistent returns relative to the total capital employed in its operations. The slight fluctuations in the return on total capital suggest that the company has maintained a relatively efficient use of capital over the years. The average return on total capital over this period is 7.34%, indicating that the company has been able to consistently generate value for its capital providers. Overall, WEC Energy Group Inc's return on total capital demonstrates a solid performance in utilizing its capital resources effectively.