Heartland Express Inc (HTLD)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,047,510 | 1,207,460 | 967,996 | 607,284 | 645,262 |
| Total assets | US$ in thousands | 1,334,190 | 1,509,650 | 1,669,490 | 928,542 | 951,176 |
| Total asset turnover | 0.79 | 0.80 | 0.58 | 0.65 | 0.68 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,047,510K ÷ $1,334,190K
= 0.79
The total asset turnover ratio for Heartland Express Inc has shown fluctuations over the years, indicating varying levels of efficiency in utilizing its assets to generate revenue. From December 31, 2020 to December 31, 2022, the ratio decreased from 0.68 to 0.58, suggesting a decline in the company's ability to generate sales from its assets during this period. However, there was a notable improvement in the ratio in the following years, reaching 0.80 by December 31, 2023 and maintaining a similar level at 0.79 by December 31, 2024.
Overall, the trend in the total asset turnover ratio indicates that while there were periods of lower efficiency in asset utilization, the company managed to enhance its performance in this aspect towards the later years of the analyzed period. This improvement could potentially signify better operational efficiency and effective management of assets to drive revenue generation. Additional analysis and comparison with industry benchmarks may provide further insights into Heartland Express Inc's asset utilization efficiency relative to its peers.
Peer comparison
Dec 31, 2024