Saia Inc (SAIA)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,877,990	2,789,400	2,289,390	1,819,720	1,780,450
Property, plant and equipment	US$ in thousands	1,763,310	1,482,620	1,280,450	1,136,030	1,052,600
Fixed asset turnover		1.63	1.88	1.79	1.60	1.69

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,877,990K ÷ $1,763,310K
= 1.63

Saia Inc.'s fixed asset turnover ratio has exhibited some fluctuations over the past five years. The ratio decreased from 1.70 in 2019 to 1.60 in 2020, indicating a decline in the company's ability to generate sales from its fixed assets. However, there was an improvement in 2021, with the ratio rising to 1.79. This increase suggests that Saia Inc. was able to more efficiently utilize its fixed assets to generate revenue.

In 2022, the fixed asset turnover ratio further increased to 1.88, indicating a significant improvement in the company's ability to generate sales relative to its investment in fixed assets. However, in 2023, there was a slight decrease in this ratio to 1.63.

Despite the fluctuations observed in the fixed asset turnover ratio, it generally remained above 1.5 over the five-year period, indicating that Saia Inc. has been effectively utilizing its fixed assets to generate revenue. Further analysis and comparison with industry benchmarks could provide more insights into the company's performance in this aspect.