ArcBest Corp (ARCB)

Return on assets (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
Net income (ttm)	US$ in thousands	195,433	183,980	237,905	299,923	298,209	326,360	301,209	259,729	213,521	171,947	137,660	92,559	71,100	41,637	28,503	36,999	39,985	60,833	85,339	62,196
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
ROA		7.86%	7.55%	9.85%	12.33%	11.96%	13.37%	13.13%	11.75%	10.11%	8.76%	7.48%	5.24%	4.00%	2.38%	1.52%	2.02%	2.42%	3.64%	5.22%	3.99%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $195,433K ÷ $2,485,090K
= 7.86%

ArcBest Corp's return on assets (ROA) has shown some variability over the past eight quarters. The ROA has ranged from a low of 7.55% in Q3 2023 to a high of 13.37% in Q3 2022. Overall, the company's ROA appears to have experienced a downward trend recently, dropping from 13.13% in Q2 2022 to 7.86% in Q4 2023. This downward trend may indicate a decrease in the company's efficiency in generating profit from its assets. However, it's worth noting that ArcBest Corp's ROA remains above 7% in all quarters, suggesting that the company is still generating a reasonable return on its assets. The company may need to closely evaluate its asset management strategies to improve its ROA performance in the future.