Knight Transportation Inc (KNX)

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	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
Total assets	US$ in thousands	12,870,800	12,840,300	11,437,900	10,943,000	10,951,700	10,747,400	10,714,900	10,695,800	10,655,500	10,355,000	8,682,460	8,519,480	8,468,000	8,501,360	8,279,030	8,288,320	8,281,730	8,322,220	8,213,580	8,081,140
Total asset turnover		0.55	0.54	0.60	0.66	0.68	0.70	0.68	0.62	0.56	0.53	0.58	0.56	0.55	0.54	0.55	0.57	0.58	0.61	0.63	0.65

December 31, 2023 calculation

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

The total asset turnover ratio of Knight-Swift Transportation Holdings Inc has shown fluctuations over the past eight quarters. The ratio ranged from a low of 0.54 in Q3 2023 to a high of 0.70 in Q3 2022. This ratio measures the efficiency with which the company generates sales revenue from its total assets.

A decreasing trend in the total asset turnover ratio may indicate that the company is becoming less efficient in utilizing its assets to generate sales. On the contrary, an increasing trend suggests improving efficiency in asset utilization.

In the most recent quarter, Q4 2023, the total asset turnover ratio was 0.55, which is slightly lower compared to the previous quarter. This may raise concerns about the company’s ability to generate sales from its assets efficiently.

It is important for stakeholders to closely monitor this ratio over time to assess the company’s operational efficiency and asset management strategies. Further analysis of the underlying factors contributing to the fluctuations in the total asset turnover ratio would provide more insights into the company's performance.