Saia Inc (SAIA)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	354,857	336,491	336,169	354,095	357,422	360,321	342,139	295,368	253,235	219,710	181,540	147,520	138,340	119,523	110,952	119,571	113,719	117,680	112,907	106,115
Total stockholders’ equity	US$ in thousands	1,941,490	1,849,460	1,746,220	1,650,940	1,579,340	1,506,480	1,403,760	1,291,490	1,220,330	1,144,730	1,063,160	997,618	961,288	918,466	875,090	843,387	815,226	792,371	757,502	717,650
ROE		18.28%	18.19%	19.25%	21.45%	22.63%	23.92%	24.37%	22.87%	20.75%	19.19%	17.08%	14.79%	14.39%	13.01%	12.68%	14.18%	13.95%	14.85%	14.91%	14.79%

December 31, 2023 calculation

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

To analyze Saia Inc.'s return on equity (ROE) over the past eight quarters, we observe a downward trend from Q1 2022 to Q4 2023. The ROE has decreased from 22.87% in Q1 2022 to 18.28% in Q4 2023. This decline in ROE may indicate a reduction in the company's profitability relative to its shareholders' equity over the period.

Despite the overall decrease in ROE, Saia Inc. consistently maintained a ROE above 18% throughout the analyzed period, indicating that the company has been generating a healthy return for its shareholders relative to the equity invested in the business.

The fluctuations in ROE could be attributed to various factors such as changes in net income, shareholder equity, or financial leverage. It is essential for stakeholders to closely monitor these trends to understand the company's performance and profitability dynamics accurately. Further analysis of the company's financial statements and business operations can provide valuable insights into the drivers behind the observed changes in ROE.