Marten Transport Ltd (MRTN)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,131,460 | 1,263,880 | 973,644 | 874,374 | 843,271 |
| Total assets | US$ in thousands | 990,339 | 965,679 | 870,690 | 831,636 | 796,586 |
| Total asset turnover | 1.14 | 1.31 | 1.12 | 1.05 | 1.06 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,131,460K ÷ $990,339K
= 1.14
The total asset turnover ratio for Marten Transport, Ltd. has shown fluctuations over the past five years. In 2023, the ratio decreased to 1.14 from 1.31 in 2022, indicating that the company generated $1.14 in revenue for every dollar of assets. This decrease suggests that Marten Transport may not have efficiently utilized its assets to generate sales compared to the previous year.
When compared to the ratios in 2021, 2020, and 2019, the total asset turnover in 2023 is higher, indicating a potential improvement in asset utilization efficiency. However, it is still below the ratio in 2022, which reflects a potential area for management to focus on optimizing the utilization of assets to generate revenue.
Overall, the trend in total asset turnover for Marten Transport, Ltd. shows variability, and it may be beneficial for the company to assess its asset management practices to improve efficiency and maximize returns on its assets.
Peer comparison
Dec 31, 2023