Knight Transportation Inc (KNX)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	217,149	376,505	511,106	667,272	771,325	877,240	888,623	821,935	743,388	631,101	546,981	474,366	410,002	335,117	287,678	286,694	309,206	393,458	424,720	436,838
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
ROA		1.69%	2.93%	4.47%	6.10%	7.04%	8.16%	8.29%	7.68%	6.98%	6.09%	6.30%	5.57%	4.84%	3.94%	3.47%	3.46%	3.73%	4.73%	5.17%	5.41%

December 31, 2023 calculation

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

Knight-Swift Transportation Holdings Inc's Return on Assets (ROA) has shown a declining trend over the past eight quarters. Q1 2022 recorded the highest ROA at 7.68%, followed by a gradual decrease in subsequent quarters. The ROA dropped to 6.10% in Q1 2023, indicating a decrease in the company's ability to generate profits from its assets. This declining trend continued in Q2 and Q3 2023, with ROA reaching 4.47% and 2.93%, respectively. Q4 2023 saw a further decrease in ROA to 1.69%, representing a significant decline compared to previous quarters. Overall, the decreasing trend in ROA suggests that Knight-Swift Transportation Holdings Inc may be facing challenges in efficiently utilizing its assets to generate profits.