Marten Transport Ltd (MRTN)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	757,386	703,919	651,677	620,333	597,589
ROE		9.29%	15.68%	13.11%	11.20%	10.22%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $70,373K ÷ $757,386K
= 9.29%

Marten Transport, Ltd.'s return on equity (ROE) has shown a fluctuating trend over the past five years. In 2023, the ROE decreased to 9.29% from 15.68% in 2022, marking a significant decline in profitability. This decrease suggests that the company's ability to generate profit from shareholders' equity weakened substantially in 2023.

Comparing the ROE in 2023 to previous years, it is lower than the figures reported in 2021 (13.11%), 2020 (11.20%), and 2019 (10.22%). The diminishing trend in ROE from 2022 to 2023 indicates a potential concern regarding Marten Transport's efficiency in utilizing equity to generate profits.

Overall, the declining ROE of Marten Transport, Ltd. in 2023 raises questions about the company's profitability and the effectiveness of its operations in maximizing returns for shareholders. It may be advisable for stakeholders and investors to further investigate the factors contributing to this decline and assess the company's strategies for improving ROE in the future.