ArcBest Corp (ARCB)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	4,493,120	4,653,130	4,876,850	5,166,410	5,326,350	5,274,290	4,938,980	4,495,079	3,997,842	3,620,356	3,398,646	3,076,929	2,942,547	2,843,551	2,836,113	2,980,260	2,988,521	3,045,382	3,083,878	3,105,669
Total assets	US$ in thousands	2,485,090	2,437,450	2,414,100	2,431,590	2,494,290	2,440,110	2,293,710	2,209,700	2,112,680	1,962,430	1,841,470	1,768,020	1,779,010	1,746,230	1,870,760	1,834,360	1,651,210	1,670,630	1,633,930	1,559,660
Total asset turnover		1.81	1.91	2.02	2.12	2.14	2.16	2.15	2.03	1.89	1.84	1.85	1.74	1.65	1.63	1.52	1.62	1.81	1.82	1.89	1.99

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,493,120K ÷ $2,485,090K
= 1.81

ArcBest Corp's total asset turnover has been fluctuating over the past eight quarters. The ratio ranged from a low of 1.78 in Q4 2023 to a high of 2.16 in Q3 2022. Overall, the company has shown efficiency in generating sales revenue relative to its total assets, with higher turnover ratios indicating better asset utilization. The decreasing trend in total asset turnover from 2.13 in Q4 2022 to 1.78 in Q4 2023 may suggest potential challenges or inefficiencies in utilizing assets to generate revenue. Further analysis and comparison with industry benchmarks would provide a clearer understanding of ArcBest Corp's asset management efficiency.