Werner Enterprises Inc (WERN)

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	176,416	226,865	265,226	292,951	323,076	333,183	328,246	330,186	309,146	292,109	282,888	258,843	227,438	211,641	202,895	208,519	225,472	234,749	244,778	237,119
Total assets	US$ in thousands	3,157,940	3,194,460	3,105,190	3,116,320	3,097,260	2,859,130	2,848,590	2,649,030	2,603,710	2,479,140	2,382,870	2,229,530	2,156,680	2,140,140	2,079,710	2,088,900	2,143,860	2,163,540	2,128,620	2,118,830
Operating ROA		5.59%	7.10%	8.54%	9.40%	10.43%	11.65%	11.52%	12.46%	11.87%	11.78%	11.87%	11.61%	10.55%	9.89%	9.76%	9.98%	10.52%	10.85%	11.50%	11.19%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $176,416K ÷ $3,157,940K
= 5.59%

The operating return on assets (operating ROA) of Werner Enterprises, Inc. has shown a declining trend over the past quarters, starting at 12.18% in Q1 2022 and decreasing to 5.19% in Q4 2023. This indicates a reduction in the company's ability to generate operating income from its assets during this period.

The decreasing trend in operating ROA could be a result of various factors such as increased operating expenses, lower revenue generation from assets, or inefficient asset utilization.

Management should closely evaluate the factors contributing to this decline in operating ROA and take necessary actions to improve the company's operational efficiency and asset productivity in order to enhance profitability in the future.