Marten Transport Ltd (MRTN)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	757,386	749,357	740,020	721,511	703,919	682,437	660,157	648,762	651,677	630,087	653,641	634,978	620,333	644,708	629,398	609,380	597,589	582,857	602,390	587,737
ROE		9.29%	11.14%	12.91%	14.60%	15.68%	16.06%	15.94%	14.64%	13.11%	12.74%	11.79%	11.62%	11.20%	10.18%	10.20%	10.05%	10.22%	10.48%	9.92%	9.91%

December 31, 2023 calculation

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

The return on equity (ROE) for Marten Transport, Ltd. fluctuated over the past eight quarters. The ROE decreased from 15.68% in Q4 2022 to 9.29% in Q4 2023. This downward trend continued with consecutive decreases in Q1, Q2, and Q3 2023, reaching a low of 9.29%.

The highest ROE in the period was 16.06% in Q3 2022, followed closely by 15.94% in Q2 2022. Overall, the ROE has shown a general decline in recent quarters, indicating potential concerns about the company's profitability and efficiency in generating returns for shareholders relative to its equity base. Further analysis of the company's financial performance and strategies may be required to identify the underlying reasons for the declining trend in ROE.