Marten Transport Ltd (MRTN)

Total asset 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
Revenue (ttm)	US$ in thousands	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	843,271	830,047	814,723	799,657
Total assets	US$ in thousands	990,339	997,204	1,004,080	979,273	965,679	938,702	921,121	885,398	870,690	903,383	884,363	855,349	831,636	859,066	840,834	824,918	796,586	780,955	796,595	774,527
Total asset turnover		1.14	1.19	1.23	1.30	1.31	1.29	1.23	1.17	1.12	1.03	1.02	1.03	1.05	1.01	1.03	1.05	1.06	1.06	1.02	1.03

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,131,455K ÷ $990,339K
= 1.14

Total asset turnover is a financial ratio that measures a company's efficiency in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is utilizing its assets more effectively to generate sales.

Based on the data provided for Marten Transport, Ltd., we observe fluctuations in the total asset turnover ratio over the past eight quarters. The total asset turnover ratio has ranged from 1.14 to 1.31 during this period, showing some variability in the company's asset utilization efficiency.

From Q4 2022 to Q1 2023, there was a general uptrend in the total asset turnover ratio, indicating that Marten Transport was able to generate more sales revenue relative to its total assets during this period. However, from Q1 2023 to Q4 2023, we see a slight decline in the ratio, which suggests a potential decrease in efficiency in utilizing assets to generate sales.

Overall, Marten Transport's total asset turnover ratio has shown some variability but has generally remained above 1, indicating that the company is effectively generating sales relative to its asset base. However, management should continue to monitor and optimize asset utilization to maintain or improve the efficiency of generating revenue from assets.