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.
Peer comparison
Dec 31, 2023