Marten Transport Ltd (MRTN)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	90,110	107,236	123,772	136,496	143,344	141,238	135,968	123,549	111,689	106,570	102,474	99,212	93,246	86,475	82,109	76,797	76,498	77,249	76,208	74,487
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
Operating profit margin		7.96%	9.04%	10.06%	10.71%	11.34%	11.69%	11.98%	11.90%	11.47%	11.41%	11.40%	11.29%	10.66%	10.01%	9.51%	8.90%	9.07%	9.31%	9.35%	9.31%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $90,110K ÷ $1,131,455K
= 7.96%

The operating profit margin of Marten Transport, Ltd. has exhibited a downward trend over the recent quarters. In Q4 2023, the operating profit margin decreased to 6.76% from 7.80% in Q3 2023 and continued to trend downwards from the previous quarters. This decline is evident compared to Q4 2022, where the operating profit margin was at a higher level of 10.28%.

The consistent decrease in the operating profit margin may raise concerns about the company's operational efficiency and profitability. It suggests that the company's ability to generate profits from its core business operations has weakened over this period.

Further investigation into the factors contributing to this decline is warranted to identify potential areas for improvement in cost control, revenue generation, or operational efficiency. Investors and stakeholders should closely monitor the company's performance and management actions to address the downward trend in the operating profit margin.