Hub Group Inc (HUBG)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,197,040	5,358,280	4,244,580	3,485,460	3,658,380
Total assets	US$ in thousands	2,936,050	2,810,080	2,437,290	2,105,400	1,991,570
Total asset turnover		1.43	1.91	1.74	1.66	1.84

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $4,197,040K ÷ $2,936,050K
= 1.43

Hub Group, Inc.'s total asset turnover has shown fluctuations over the past five years. The ratio measures the efficiency of the company in generating revenue from its assets. A higher total asset turnover indicates that the company is generating more revenue per dollar of assets.

In 2023, the total asset turnover decreased to 1.43 from 1.90 in 2022, which suggests that the company generated less revenue per dollar of assets compared to the previous year. This decrease may be attributed to various factors such as changes in sales volume, asset utilization, or pricing strategy.

While the total asset turnover in 2023 was lower than the previous year, it is important to note that it is still higher than the ratios for 2020 and 2019. This indicates that the company has improved its efficiency in generating revenue from its assets in 2023 compared to two years prior.

Overall, the trend in total asset turnover for Hub Group, Inc. shows some variability, but it is essential for the company to continue monitoring and managing its asset utilization effectively to ensure optimal revenue generation.