Heartland Express Inc (HTLD)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	865,260	861,130	872,937	866,619	855,477	840,889	817,902	742,528	727,102	708,816	741,766	722,417	724,334	721,709	702,615	684,688	684,659	673,135	653,329	631,827
ROE		1.71%	2.92%	6.91%	14.93%	15.62%	16.46%	16.93%	11.09%	10.90%	10.81%	9.82%	9.87%	9.78%	9.13%	9.35%	10.06%	10.66%	12.27%	12.42%	12.13%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $14,775K ÷ $865,260K
= 1.71%

The return on equity (ROE) for Heartland Express, Inc. has been fluctuating over the past eight quarters. In Q4 2022, the ROE stood at 15.62% and gradually decreased to 1.71% in Q4 2023. This downward trend indicates a decline in the company's ability to generate profits from its shareholder's equity.

The highest ROE recorded during this period was 16.93% in Q2 2022. This suggests that the company was most efficient in utilizing its equity to generate profit during that quarter. However, the ROE has since been on a general downward trajectory.

The significant variance in ROE values across the quarters indicates fluctuations in the company's profitability and efficiency in utilizing shareholder equity. Investors and analysts may want to further investigate the factors influencing these fluctuations to assess the company's financial performance and sustainability.