Knight Transportation Inc (KNX)

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	7,141,770	6,953,470	6,830,370	7,238,520	7,428,580	7,501,820	7,247,420	6,601,990	5,998,010	5,459,110	5,027,080	4,772,080	4,673,870	4,592,720	4,582,830	4,764,210	4,843,950	5,041,780	5,187,870	5,277,470
Property, plant and equipment	US$ in thousands	4,616,400	4,504,460	3,962,150	3,880,090	3,835,040	3,675,320	3,601,190	3,579,680	3,555,360	3,456,340	3,011,820	2,975,640	2,992,650	2,970,560	2,894,570	2,873,170	2,850,720	2,846,930	2,745,640	2,623,720
Fixed asset turnover		1.55	1.54	1.72	1.87	1.94	2.04	2.01	1.84	1.69	1.58	1.67	1.60	1.56	1.55	1.58	1.66	1.70	1.77	1.89	2.01

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,141,770K ÷ $4,616,400K
= 1.55

The fixed asset turnover ratio for Knight-Swift Transportation Holdings Inc has shown a decreasing trend over the last eight quarters. The ratio decreased from 2.04 in Q3 2022 to 1.55 in Q4 2023. This indicates that the company generated $1.55 in revenue for every dollar invested in fixed assets in Q4 2023.

A declining fixed asset turnover ratio may suggest inefficiency in utilizing the company's fixed assets to generate sales. It could indicate that the company is facing challenges in effectively managing and utilizing its fixed assets to generate revenue.

Further analysis is needed to understand the reasons behind this trend and to evaluate the company's performance in terms of asset utilization and operational efficiency.