Knight Transportation Inc (KNX)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	338,153	1,091,830	965,697	564,438	427,438
Total assets	US$ in thousands	12,870,800	10,951,700	10,655,500	8,468,000	8,281,730
Operating ROA		2.63%	9.97%	9.06%	6.67%	5.16%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $338,153K ÷ $12,870,800K
= 2.63%

Knight-Swift Transportation Holdings Inc's operating return on assets (operating ROA) has exhibited fluctuations over the past five years. In 2023, the operating ROA stood at 2.64%, marking a noticeable decrease from the previous year. Despite this, the company's performance in 2023 remains lower compared to the levels seen in 2022 and 2021, when it achieved operating ROA figures of 9.98% and 9.07%, respectively. This downward trend is worth noting as it suggests a potential decline in the company's ability to generate profits from its assets in the most recent period. However, it is important to consider other factors such as changes in the industry landscape and company-specific strategies that may have influenced this outcome. Overall, the operating ROA trend for Knight-Swift Transportation Holdings Inc reflects varying levels of efficiency in utilizing its assets to generate operating profits over the past five years.