Knight Transportation Inc (KNX)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	7,141,770	7,428,580	5,998,020	4,673,860	4,843,950
Total assets	US$ in thousands	12,870,800	10,951,700	10,655,500	8,468,000	8,281,730
Total asset turnover		0.55	0.68	0.56	0.55	0.58

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $7,141,770K ÷ $12,870,800K
= 0.55

The total asset turnover of Knight-Swift Transportation Holdings Inc has fluctuated over the past five years, ranging from 0.55 to 0.68. This ratio indicates the company's efficiency in generating revenue from its total assets. A higher total asset turnover ratio is generally preferred as it implies that the company is able to generate more revenue with a lower investment in assets.

In 2022, the total asset turnover ratio reached its peak at 0.68, showing improved efficiency in asset utilization compared to the other years. However, in 2023, this ratio decreased to 0.55, which could indicate a decline in the company's ability to generate revenue from its assets compared to the previous year.

The relatively low total asset turnover ratios in 2020, 2021, and 2019 suggest that Knight-Swift Transportation Holdings Inc may have struggled to efficiently utilize its total assets to generate revenue during those years. This could potentially indicate inefficiencies in operations or the need for better asset management strategies.

Overall, the trend in total asset turnover for Knight-Swift Transportation Holdings Inc shows variability, with fluctuations in the company's ability to efficiently generate revenue from its total assets over the past five years. Further analysis of operational and financial performance is recommended to better understand the factors contributing to these fluctuations.