Marten Transport Ltd (MRTN)

Financial leverage ratio

		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
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
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
Financial leverage ratio		1.31	1.33	1.36	1.36	1.37	1.38	1.40	1.36	1.34	1.43	1.35	1.35	1.34	1.33	1.34	1.35	1.33	1.34	1.32	1.32

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $990,339K ÷ $757,386K
= 1.31

The financial leverage ratio for Marten Transport, Ltd. has shown a declining trend over the past few quarters, decreasing from 1.37 in Q4 2022 to 1.31 in Q4 2023. This indicates that the company's reliance on debt to finance its operations has been decreasing. However, it is important to note that the ratio has fluctuated within a relatively narrow range of 1.31 to 1.40 over the past eight quarters, suggesting a stable capital structure overall. A financial leverage ratio of around 1.31 to 1.36 indicates that the company utilizes a moderate level of debt in its capital structure to support its business activities. Further analysis of the company's debt obligations, profitability, and cash flow is recommended to gain a deeper understanding of its financial health and risk profile.