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.
Peer comparison
Dec 31, 2023