Heartland Express Inc (HTLD)

Total 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
Total assets	US$ in thousands	1,334,190	1,361,450	1,413,430	1,452,480	1,509,650	1,575,520	1,596,660	1,612,510	1,669,490	1,701,590	1,113,200	947,113	928,542	958,280	956,985	949,421	951,176	959,751	930,499	913,291
Total asset turnover		0.79	0.79	0.79	0.79	0.80	0.82	0.79	0.71	0.58	0.45	0.57	0.64	0.65	0.64	0.65	0.66	0.68	0.68	0.69	0.68

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,047,511K ÷ $1,334,190K
= 0.79

Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue relative to its total assets. A higher total asset turnover ratio indicates that a company is effectively using its assets to generate sales.

For Heartland Express Inc, the total asset turnover ratio has seen fluctuations over the past few years. From March 31, 2020, to December 31, 2021, the ratio remained relatively stable around 0.68, indicating a consistent level of asset utilization. However, there was a slight decline in the ratio to 0.64 by March 31, 2022, and further down to 0.45 by September 30, 2022, suggesting a potential decrease in sales relative to the total assets during that period.

Subsequently, the total asset turnover ratio rebounded, reaching 0.80 by December 31, 2024, showing an improvement in asset efficiency and possibly increased sales generation per unit of assets. The ratios of 0.79 for the quarters ending June 30, 2023, to December 31, 2024, remained constant, indicating sustained asset utilization levels during that period.

Overall, the fluctuations in Heartland Express Inc's total asset turnover ratio suggest varying levels of efficiency in utilizing its assets to generate sales revenue over the analyzed period. Monitoring this metric can provide insights into the company's operational performance and asset management strategies.