JB Hunt Transport Services Inc (JBHT)

Fixed 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	12,747,130	13,119,770	13,793,300	14,499,970	14,784,890	14,626,330	13,934,470	13,006,090	12,117,390	11,371,780	10,700,040	9,936,910	9,599,420	9,312,090	9,202,630	9,316,330	9,123,180	8,990,700	8,838,860	8,721,150
Property, plant and equipment	US$ in thousands	5,773,910	5,717,770	5,484,080	5,197,800	4,979,820	4,708,010	4,447,700	4,234,270	4,067,660	3,854,580	3,717,730	3,650,920	3,688,890	3,682,400	3,626,400	3,618,300	3,620,870	3,650,360	3,678,080	3,539,740
Fixed asset turnover		2.21	2.29	2.52	2.79	2.97	3.11	3.13	3.07	2.98	2.95	2.88	2.72	2.60	2.53	2.54	2.57	2.52	2.46	2.40	2.46

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $12,747,130K ÷ $5,773,910K
= 2.21

The fixed asset turnover ratio of J.B. Hunt Transport Services, Inc. has shown a decreasing trend over the past eight quarters, declining from 3.14 in Q2 2022 to 2.22 in Q4 2023. This indicates that the company is generating less revenue per dollar of fixed assets invested in its operations. The trend may suggest inefficiencies in asset utilization or a decline in operational performance relative to its fixed asset base. Further analysis is needed to understand the drivers behind this trend and to assess the company's overall operational efficiency and asset management practices.