Marten Transport Ltd (MRTN)

Working capital 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 current assets	US$ in thousands	196,582	224,586	231,959	243,912	235,840	225,309	237,883	220,034	186,949	211,944	201,940	201,058	175,658	192,546	194,722	159,547	154,166	147,899	192,914	193,267
Total current liabilities	US$ in thousands	110,242	121,644	131,020	119,602	124,310	125,457	130,717	109,382	93,559	152,271	106,989	97,851	89,794	87,947	87,579	91,126	76,326	84,930	85,176	79,542
Working capital turnover		13.10	11.52	12.19	10.25	11.33	12.10	10.59	9.38	10.43	15.65	9.47	8.51	10.18	8.26	8.06	12.61	10.83	13.18	7.56	7.03

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,131,455K ÷ ($196,582K – $110,242K)
= 13.10

The working capital turnover for Marten Transport, Ltd. has shown fluctuating values over the past eight quarters. The company's working capital turnover ratio ranged from 9.38 to 13.10 during this period.

A high working capital turnover ratio indicates that the company is efficient in managing its working capital and generating sales from its current assets. In the case of Marten Transport, Ltd., the ratios generally exhibit a positive trend, with a peak of 13.10 in Q4 2023.

Overall, the increasing trend in the working capital turnover ratios suggests that Marten Transport, Ltd. has been able to efficiently utilize its working capital to support its revenue generation activities. This trend signifies the company's effectiveness in converting its working capital into revenue over the analyzed quarters.