Marten Transport Ltd (MRTN)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	437,505	446,352	452,200	453,290	441,772	423,952	403,822	378,606	360,964	352,961	347,409	347,831	348,342	338,415	331,305	324,671	356,226	395,095	435,082	474,802
Inventory	US$ in thousands	6,286	—	0	—	5,427	—	—	—	-2,243	—	—	—	3,372	—	—	—	3,394	—	—	—
Inventory turnover		69.60	—	—	—	81.40	—	—	—	—	—	—	—	103.30	—	—	—	104.96	—	—	—

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $437,505K ÷ $6,286K
= 69.60

Based on the data provided, it appears that Marten Transport, Ltd. did not have any inventory turnover in both Q4 2023 and Q4 2022. This indicates that the company was not efficiently managing its inventory during these periods. Without additional information on the reasons behind this lack of inventory turnover, it is difficult to provide further analysis. It would be advisable for the company to investigate the causes of the zero inventory turnover and take necessary actions to improve inventory management efficiency in the future quarters.