Heartland Express Inc (HTLD)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	14,775	133,584	79,277	70,806	72,967
Total assets	US$ in thousands	1,509,650	1,669,490	928,542	951,176	898,931
ROA		0.98%	8.00%	8.54%	7.44%	8.12%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $14,775K ÷ $1,509,650K
= 0.98%

The return on assets (ROA) of Heartland Express, Inc. has exhibited some fluctuations over the past five years. In 2023, the ROA decreased significantly to 0.98% from the previous year's 8.00%. This decrease indicates a decline in the company's ability to generate profits from its assets compared to the prior year.

Compared to 2021 and 2020, the ROA of 0.98% in 2023 is notably lower. In 2021 and 2020, the company's ROA was relatively higher at 8.54% and 7.44%, respectively. This suggests a decrease in efficiency in utilizing its assets to generate profits in 2023 compared to these two years.

When compared to 2019 where the ROA was 8.12%, the decline to 0.98% in 2023 is significant, indicating a substantial decrease in the company's profitability relative to its total assets.

Overall, the decreasing trend in ROA over the years suggests potential challenges in effectively using the company's assets to generate profits, which warrants further investigation and analysis into the company's operational and financial performance.