Saia Inc (SAIA)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	460,496	440,524	440,444	466,182	470,488	475,182	452,944	389,876	335,141	288,404	237,503	190,259	180,321	157,103	147,246	162,731	152,586	158,492	151,830	142,229
Total assets	US$ in thousands	2,583,560	2,485,320	2,337,110	2,242,800	2,174,710	2,140,320	2,047,860	1,932,350	1,845,250	1,789,260	1,647,400	1,610,580	1,548,770	1,565,680	1,538,200	1,577,260	1,415,690	1,422,270	1,352,120	1,246,860
Operating ROA		17.82%	17.73%	18.85%	20.79%	21.63%	22.20%	22.12%	20.18%	18.16%	16.12%	14.42%	11.81%	11.64%	10.03%	9.57%	10.32%	10.78%	11.14%	11.23%	11.41%

December 31, 2023 calculation

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

To analyze Saia Inc.'s operating return on assets (ROA) over the past eight quarters, we observe a noticeable trend. The operating ROA has been relatively strong and stable, demonstrating consistently positive performance throughout the periods under review. The values ranged from a high of 22.22% in Q3 2022 to a low of 17.72% in Q3 2023.

Despite minor fluctuations, the operating ROA generally remained above 17%, indicating that Saia Inc. effectively generates operating income relative to its asset base. The highest operating ROA of 22.22% was achieved in Q3 2022, suggesting strong operational efficiency and asset utilization during that period. However, the metric declined in subsequent quarters but remained above the 17% threshold, demonstrating continued profitability and efficiency in utilizing assets.

Overall, the trend indicates that Saia Inc. has been efficiently utilizing its assets to generate operating income, albeit with some variations in performance levels. Further analysis of the company's operations and financial strategies could provide insights into the drivers behind these fluctuations and help in assessing the sustainability of its operating ROA performance.