Marten Transport Ltd (MRTN)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	70,373	83,488	95,536	105,323	110,354	109,570	105,198	94,955	85,428	80,302	77,072	73,788	69,500	65,644	64,187	61,243	61,071	61,060	59,730	58,242
Total assets	US$ in thousands	990,339	997,204	1,004,080	979,273	965,679	938,702	921,121	885,398	870,690	903,383	884,363	855,349	831,636	859,066	840,834	824,918	796,586	780,955	796,595	774,527
ROA		7.11%	8.37%	9.51%	10.76%	11.43%	11.67%	11.42%	10.72%	9.81%	8.89%	8.71%	8.63%	8.36%	7.64%	7.63%	7.42%	7.67%	7.82%	7.50%	7.52%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $70,373K ÷ $990,339K
= 7.11%

Marten Transport, Ltd.'s return on assets (ROA) has shown a declining trend over the past eight quarters, starting at 11.43% in Q4 2022 and decreasing to 7.11% in Q4 2023. This indicates that the company's ability to generate profit from its assets has been decreasing. The highest ROA was observed in Q2 2023 at 9.51%, suggesting a relatively more efficient utilization of assets during that period. However, the downward trend in ROA raises concerns about the company's asset management and profitability. Further analysis of the company's operations and financial performance is recommended to understand the reasons behind this decline and to identify potential areas for improvement.