Marten Transport Ltd (MRTN)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	963,708	1,001,498	1,043,670	1,083,104	1,131,455	1,185,817	1,230,727	1,274,620	1,263,878	1,208,170	1,135,002	1,037,879	973,644	934,101	898,832	878,774	874,374	864,226	863,188	862,894
Property, plant and equipment	US$ in thousands	—	—	—	—	—	771,001	770,520	733,720	728,877	711,972	681,755	663,819	682,277	689,900	680,729	652,593	654,173	664,570	367,784	389,295
Fixed asset turnover		—	—	—	—	—	1.54	1.60	1.74	1.73	1.70	1.66	1.56	1.43	1.35	1.32	1.35	1.34	1.30	2.35	2.22

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $963,708K ÷ $—K
= —

The fixed asset turnover ratio of Marten Transport Ltd has shown some fluctuations over the period from March 31, 2020, to June 30, 2023, with values ranging from 1.30 to 2.35. Initially, the ratio increased from 2.22 on March 31, 2020, to a peak of 2.35 on June 30, 2020, indicating that the company was generating $2.35 in revenue for every dollar invested in fixed assets.

However, from September 30, 2020, to June 30, 2022, the fixed asset turnover ratio experienced a downward trend, dropping to a low of 1.32 on June 30, 2021. This decline suggests that the efficiency of utilizing fixed assets to generate sales decreased during this period.

Subsequently, there was an improvement in the fixed asset turnover ratio from March 31, 2022, onwards, reaching a high of 1.74 on March 31, 2023. This increase indicates that Marten Transport Ltd was able to better utilize its fixed assets to generate revenue.

As of December 31, 2023, the fixed asset turnover ratio remained stable at 1.54, showing consistency in the company's ability to generate sales relative to its investment in fixed assets. However, data for the period beyond March 31, 2024, is not available.

Overall, analyzing the fixed asset turnover ratio provides insights into Marten Transport Ltd's efficiency in utilizing its fixed assets to generate revenue over the given period, highlighting both areas of improvement and potential challenges.