Hub Group Inc (HUBG)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	4,195,418	4,499,370	4,831,330	5,194,040	5,341,940	5,319,660	5,039,710	4,619,111	4,237,513	3,925,073	3,774,338	3,571,114	3,487,825	3,435,776	3,423,820	3,566,056	3,660,550	3,778,159	3,798,353	4,056,790
Total assets	US$ in thousands	2,936,050	2,918,130	2,800,040	2,887,980	2,810,080	2,752,660	2,679,240	2,547,130	2,437,290	2,291,480	2,186,220	2,154,770	2,105,400	2,064,970	1,999,180	2,094,610	1,991,570	1,910,680	1,930,120	1,931,310
Total asset turnover		1.43	1.54	1.73	1.80	1.90	1.93	1.88	1.81	1.74	1.71	1.73	1.66	1.66	1.66	1.71	1.70	1.84	1.98	1.97	2.10

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,195,418K ÷ $2,936,050K
= 1.43

The total asset turnover of Hub Group, Inc. has exhibited fluctuations over the past eight quarters. The ratio decreased from 1.90 in Q4 2022 to 1.43 in Q4 2023, indicating a decline in the company's ability to generate sales from its total assets during this period. Subsequently, there was a slight increase in Q3 2023, followed by a more significant increase in Q2 2023, reaching 1.73 and 1.80, respectively. This suggests an improvement in efficiency in utilizing assets to generate sales during these quarters. The ratio continued to rise to 1.54 in Q3 2023 before reaching the peak of 1.93 in Q3 2022.

The overall trend indicates some volatility in how efficiently Hub Group, Inc. is utilizing its total assets to generate revenue. It is important for the company to consistently monitor and manage its asset turnover to ensure optimal utilization of resources and sustained financial performance.