Saia Inc (SAIA)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	460,496	470,488	335,141	180,321	152,586
Total assets	US$ in thousands	2,583,560	2,174,710	1,845,250	1,548,770	1,415,690
Operating ROA		17.82%	21.63%	18.16%	11.64%	10.78%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $460,496K ÷ $2,583,560K
= 17.82%

Saia Inc.'s operating return on assets (operating ROA) has shown an overall positive trend over the past five years, reflecting the company's ability to generate operating income relative to its assets. The operating ROA increased from 10.75% in 2019 to 17.86% in 2023, indicating an improvement in the company's operational efficiency and profitability.

The peak operating ROA of 21.64% in 2022 suggests that Saia Inc. was able to efficiently utilize its assets to generate operating income during that period. However, the slight dip to 17.95% in 2021 was followed by a notable increase in 2022, showcasing the company's ability to adapt and optimize its operations.

The consistent upward trend in operating ROA from 2020 to 2023 reflects Saia Inc.'s effective management of its assets and operations, resulting in improved profitability over time. Overall, the increasing trend in operating ROA indicates that the company has been successful in maximizing its operational efficiency and profitability in recent years.