Saia Inc (SAIA)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	354,857	357,422	253,235	138,340	113,719
Total stockholders’ equity	US$ in thousands	1,941,490	1,579,340	1,220,330	961,288	815,226
ROE		18.28%	22.63%	20.75%	14.39%	13.95%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $354,857K ÷ $1,941,490K
= 18.28%

Saia Inc.'s return on equity (ROE) has demonstrated variability over the past five years. The ROE stood at 18.28% at the end of 2023, reflecting a slight decrease from the prior year. Although the ROE decreased in 2023, it remains relatively strong compared to the 5-year historical average.

In 2022, Saia Inc. achieved an ROE of 22.63%, marking the highest return on equity in the period under review. This indicates that the company generated substantial profits relative to its shareholders' equity during that year.

The ROE was 20.75% in 2021, showcasing a well-performing year for Saia Inc. as it continued to deliver solid returns to its equity investors. This performance was consistent with the positive trend observed in recent years.

In 2020, the ROE was 14.39%, showing a dip compared to the previous year. This decline may indicate a relative decrease in the company's profitability or efficiency in generating returns from its equity base during that period.

Similarly, in 2019, the ROE was 13.95%, suggesting a relatively lower return on equity compared to the subsequent years. This could be attributed to various factors such as changes in market conditions, operational challenges, or strategic decisions impacting the company's profitability.

Overall, Saia Inc.'s ROE has fluctuated over the past five years, with some years showing higher returns than others. Investors and stakeholders may analyze the drivers behind these fluctuations to assess the company's financial performance, management effectiveness, and overall value creation for shareholders.