Marten Transport Ltd (MRTN)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 70,373 | 110,354 | 85,428 | 69,500 | 61,071 |
| Total assets | US$ in thousands | 990,339 | 965,679 | 870,690 | 831,636 | 796,586 |
| ROA | 7.11% | 11.43% | 9.81% | 8.36% | 7.67% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $70,373K ÷ $990,339K
= 7.11%
The return on assets (ROA) for Marten Transport, Ltd. has shown fluctuations over the past five years. In 2023, the ROA decreased to 7.11% from 11.43% in 2022, indicating a decline in the company's efficiency in generating profits from its assets. However, when compared to 2021 and 2020, the ROA of 7.11% is still higher, suggesting that the company's asset utilization improved relative to those years.
On a broader historical perspective, the ROA has generally been trending upwards since 2019, with the highest ROA of 11.43% recorded in 2022. This indicates that Marten Transport, Ltd. has been more effective in generating profits from its assets in recent years.
Overall, while the ROA for 2023 decreased compared to the previous year, it may be beneficial for the company to assess its asset management strategies and operational efficiency to maintain or improve its profitability.
Peer comparison
Dec 31, 2023