Heartland Express Inc (HTLD)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,047,511	1,080,282	1,115,447	1,146,862	1,207,458	1,287,034	1,265,984	1,147,636	967,995	761,214	639,850	606,157	607,284	614,931	624,601	631,346	645,262	656,699	642,325	623,596
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	927,124	938,406	973,258	992,400	539,603	471,979	487,915	491,058	500,381	512,833	539,280	569,544	543,492	545,716
Fixed asset turnover		—	—	—	—	—	—	1.37	1.22	0.99	0.77	1.19	1.28	1.24	1.25	1.25	1.23	1.20	1.15	1.18	1.14

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,047,511K ÷ $—K
= —

Heartland Express Inc's fixed asset turnover has shown some fluctuations over the period from March 31, 2020 to June 30, 2024. The ratio increased from 1.14 in March 31, 2020 to a peak of 1.37 in June 30, 2023. This indicates that the company generated more revenue relative to its fixed assets in that period.

However, in the subsequent quarters, the fixed asset turnover ratio declined notably. In September 30, 2023, the ratio dropped to an unexpected low of 0.77, signifying a potential decline in efficiency in utilizing fixed assets to generate revenue. This trend continued to December 31, 2023, where the ratio remained at a lower level of 0.99.

For the later quarters of March 31, 2024 onwards, there is missing data, indicating a lack of available information to assess the performance of fixed asset turnover during this period. It is essential for stakeholders and management to closely monitor this ratio and take appropriate actions to improve efficiency and optimize the utilization of fixed assets to drive profitability in the future.