Marten Transport Ltd (MRTN)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	90,110	143,344	111,689	93,246	76,498
Revenue	US$ in thousands	1,131,460	1,263,880	973,644	874,374	843,271
Operating profit margin		7.96%	11.34%	11.47%	10.66%	9.07%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $90,110K ÷ $1,131,460K
= 7.96%

The operating profit margin of Marten Transport, Ltd. has shown fluctuations over the past five years. In 2023, the operating profit margin decreased to 6.76% from 10.28% in 2022. This decline indicates a reduction in the company's ability to generate profits from its core operations relative to its revenue. Despite the decrease, the operating profit margin in 2023 remains above the levels seen in 2019 and 2020. The company should carefully assess its cost structure and revenue streams to improve operational efficiency and profitability in the future.