Knight Transportation Inc (KNX)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	217,149	771,325	743,388	410,002	309,206
Total assets	US$ in thousands	12,870,800	10,951,700	10,655,500	8,468,000	8,281,730
ROA		1.69%	7.04%	6.98%	4.84%	3.73%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $217,149K ÷ $12,870,800K
= 1.69%

Based on the data provided, Knight-Swift Transportation Holdings Inc's return on assets (ROA) has fluctuated over the past five years. The ROA ranged from 1.69% in 2023 to 7.04% in 2022, indicating some volatility in the company's ability to generate profits relative to its total assets.

In 2022, the company achieved its highest ROA of 7.04%, signifying efficient utilization of its assets to generate profits. However, this performance was followed by a decline in ROA to 1.69% in 2023, which may indicate a decrease in profitability relative to its asset base.

Overall, Knight-Swift's ROA has shown an upward trend from 3.73% in 2019 to 7.04% in 2022 before decreasing in 2023. The company's management may need to focus on optimizing asset utilization and profitability to maintain or improve ROA levels in the future.