ArcBest Corp (ARCB)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	244,434	172,619	394,526	280,986	98,278
Total assets	US$ in thousands	2,429,730	2,485,090	2,494,290	2,112,680	1,779,010
Operating ROA		10.06%	6.95%	15.82%	13.30%	5.52%

December 31, 2024 calculation

Operating ROA = Operating income ÷ Total assets
= $244,434K ÷ $2,429,730K
= 10.06%

ArcBest Corp's operating return on assets (Operating ROA) has shown variability over the past five years. The Operating ROA increased from 5.52% in December 31, 2020, to 15.82% by December 31, 2022, indicating an improvement in the company's ability to generate operating income relative to its total assets during this period. However, there was a decline in the Operating ROA to 6.95% by December 31, 2023, followed by a slight recovery to 10.06% by December 31, 2024.

The significant increase in Operating ROA from 2020 to 2022 suggests that ArcBest Corp effectively utilized its assets to generate operating income and improve profitability. The subsequent decline in 2023 followed by a recovery in 2024 indicates some fluctuations in the company's operational efficiency and profitability during those periods.

Overall, the trend in ArcBest Corp's Operating ROA reflects both positive and negative movements in the company's operational performance and asset utilization over the past five years, requiring further analysis to understand the underlying factors influencing these changes.