Heartland Express Inc (HTLD)

Return on assets (ROA)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	14,775	25,169	60,287	129,422	133,585	138,431	138,482	82,318	79,277	76,614	72,862	71,302	70,806	65,921	65,708	68,887	72,967	82,620	81,175	76,617
Total assets	US$ in thousands	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	898,931	949,043	859,837	832,935
ROA		0.98%	1.60%	3.78%	8.03%	8.00%	8.14%	12.44%	8.69%	8.54%	7.99%	7.61%	7.51%	7.44%	6.87%	7.06%	7.54%	8.12%	8.71%	9.44%	9.20%

December 31, 2023 calculation

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

Heartland Express, Inc.'s return on assets (ROA) has fluctuated over the past eight quarters. Initially, the company experienced a significant decline in ROA in Q1 2022, followed by a gradual increase in subsequent quarters up to Q2 2023. However, in Q3 and Q4 2023, there was a noticeable decline in ROA. This downward trend may indicate a decrease in the company's ability to generate profits from its assets, signaling potential inefficiencies in asset utilization or declining profitability. Further investigation into the factors influencing this trend is recommended to assess the company's overall financial performance and make informed decisions.