ArcBest Corp (ARCB)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	172,619	163,318	233,563	327,485	399,269	431,252	403,477	341,738	280,986	224,303	176,524	122,650	98,278	56,797	48,223	62,998	63,770	112,161	137,008	104,964
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
Operating ROA		6.95%	6.70%	9.67%	13.47%	16.01%	17.67%	17.59%	15.47%	13.30%	11.43%	9.59%	6.94%	5.52%	3.25%	2.58%	3.43%	3.86%	6.71%	8.39%	6.73%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $172,619K ÷ $2,485,090K
= 6.95%

To analyze ArcBest Corp's operating return on assets (operating ROA) based on the provided data, we observe a declining trend in operating ROA from Q1 2022 (15.56%) to Q4 2023 (6.95%). This may indicate a weakening ability of the company to generate operating profit from its assets over time. The peak operating ROA was recorded in Q4 2022 at 16.01%, suggesting efficient asset utilization during that period.

The decreasing trend from 14.00% in Q1 2023 to 6.95% in Q4 2023 might raise concerns about the effectiveness of the company's operations in generating returns relative to its asset base. Further analysis of the company's operational efficiency, asset management strategies, and overall business performance may be warranted to address the declining trend in operating ROA.

It is essential for stakeholders to monitor ArcBest Corp's operating ROA closely to understand the company's effectiveness in generating profit from its assets and to evaluate its financial performance and operational efficiency over time.