Marten Transport Ltd (MRTN)

Current ratio

		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
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
Current ratio		1.78	1.85	1.77	2.04	1.90	1.80	1.82	2.01	2.00	1.39	1.89	2.05	1.96	2.19	2.22	1.75	2.02	1.74	2.26	2.43

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $196,582K ÷ $110,242K
= 1.78

The current ratio of Marten Transport, Ltd. has displayed some fluctuations over the past eight quarters. From Q1 2022 to Q2 2023, the current ratio varied within a relatively narrow range, showing a slight decline in Q2 and Q3 2023 compared to the preceding quarters. Despite these fluctuations, the current ratio has generally remained above 1, indicating that the company has had more current assets than current liabilities to cover its short-term obligations.

The highest current ratio was observed in Q1 2023 at 2.04, indicating a strong ability to meet its short-term debt obligations with its current assets. However, this was followed by a decrease in Q2 and Q3 2023. The lowest current ratio recorded during the period was in Q4 2023, though it still remained above 1.5, suggesting the company's capability to meet its short-term liabilities.

Overall, the current ratio trend suggests that Marten Transport, Ltd. has generally maintained a healthy liquidity position over the period analyzed, with fluctuations within the boundaries of acceptable levels for a company in the transportation industry. The management should monitor these fluctuations to ensure the company's liquidity position remains stable in the long term.