Marten Transport Ltd (MRTN)

Operating return on assets (Operating ROA)

		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
Total assets	US$ in thousands	990,339	965,679	870,690	831,636	796,586
Operating ROA		9.10%	14.84%	12.83%	11.21%	9.60%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $90,110K ÷ $990,339K
= 9.10%

Marten Transport, Ltd.'s operating return on assets (operating ROA) has fluctuated over the past five years. The trend shows that the company's performance in generating operating profit from its assets has been somewhat volatile. The operating ROA decreased from 8.51% in 2019 to 7.72% in 2023, with interim fluctuations.

While the operating ROA was relatively higher in 2022 and 2021 at 13.46% and 10.96%, respectively, it declined in the most recent year. This decrease may indicate that the company's ability to generate operating income from its assets has weakened or that it may have faced challenges impacting profitability in 2023.

It is crucial for Marten Transport, Ltd. to further analyze the factors influencing this decline in operating ROA and take necessary actions to improve operational efficiency and profitability in the upcoming periods.