Heartland Express Inc (HTLD)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	42,385	188,358	105,407	93,419	94,275
Total assets	US$ in thousands	1,509,650	1,669,490	928,542	951,176	898,931
Operating ROA		2.81%	11.28%	11.35%	9.82%	10.49%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $42,385K ÷ $1,509,650K
= 2.81%

Heartland Express, Inc.'s operating return on assets (operating ROA) has shown a declining trend over the past five years. The operating ROA was 0.09% in 2023, significantly lower than the 5.48% recorded in 2022 and the 7.32% in 2021. This suggests a recent decrease in the company's ability to generate operating profit from its assets.

Comparing the latest operating ROA in 2023 to the levels seen in 2020 and 2019, there is a notable downward trend. In 2020, the operating ROA was 8.26%, and in 2019, it was 7.00%. This indicates a decreasing trend in the company's operational efficiency and profitability relative to its asset base over the years.

The decreasing trend in operating ROA may indicate potential inefficiencies in the company's operations or a decrease in the effectiveness of asset utilization. It is important for investors and stakeholders to closely monitor this metric to assess the company's operational performance and profitability in the coming periods.