ArcBest Corp (ARCB)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,422,890	5,336,500	3,996,140	2,942,940	2,993,880
Total assets	US$ in thousands	2,485,090	2,494,290	2,112,680	1,779,010	1,651,210
Total asset turnover		1.78	2.14	1.89	1.65	1.81

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,422,890K ÷ $2,485,090K
= 1.78

The total asset turnover of ArcBest Corp has fluctuated over the past five years, with a high of 2.13 in 2022 and a low of 1.65 in 2020. This ratio indicates the company's efficiency in generating sales revenue relative to its total assets. A higher total asset turnover ratio typically suggests that the company is using its assets more efficiently to generate sales. In the case of ArcBest Corp, the ratio has been above 1 for each year, indicating that, on average, the company generates more in sales compared to its total assets. This is generally a positive sign, as it suggests that the company is effectively utilizing its assets to drive revenue. Overall, the trend in ArcBest Corp's total asset turnover shows varying levels of efficiency in utilizing its assets to generate sales revenue over the past five years.