Marten Transport (MRTN) Financials

$16.53 +0.13 (+0.79%)

As of 02:31 PM Eastern

Annual Income Statements for Marten Transport

This table shows Marten Transport's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	36	33	90	55	61	70	85	110	70	27	17
Consolidated Net Income / (Loss)	36	33	90	55	61	70	85	110	70	27	17
Net Income / (Loss) Continuing Operations	36	33	90	55	61	70	85	110	70	27	17
Total Pre-Tax Income	61	57	56	71	78	93	112	144	94	36	24
Total Operating Income	61	58	57	70	76	93	112	143	90	33	23
Total Gross Profit	233	242	354	391	410	420	462	624	553	453	412
Total Revenue	665	671	698	788	843	874	974	1,264	1,131	964	884
Operating Revenue	665	671	698	788	843	874	974	1,264	1,131	964	884
Total Cost of Revenue	432	430	344	397	433	455	511	640	578	511	471
Operating Cost of Revenue	432	430	344	397	433	455	511	640	578	511	471
Total Operating Expenses	172	183	297	321	334	326	351	480	463	420	390
Selling, General & Admin Expense	19	20	55	61	61	69	69	89	91	83	87
Depreciation Expense	75	82	85	89	95	103	103	111	117	112	105
Other Operating Expenses / (Income)	48	49	162	179	186	165	196	294	269	230	210
Other Special Charges / (Income)	-	-	-5.50	-7.24	-8.68	-10	-16	-13	-14	-4.97	-12
Total Other Income / (Expense), net	-0.37	-1.24	-0.39	0.68	1.19	0.14	0.04	0.83	3.81	3.13	1.46
Other Income / (Expense), net	-0.37	-1.24	-0.39	0.68	1.19	0.14	0.04	0.83	3.81	3.13	1.46
Income Tax Expense	25	24	-34	16	17	24	26	34	24	9.42	6.93
Basic Earnings per Share	$0.64	$0.62	$1.66	$0.67	$0.75	$0.84	$1.03	$1.35	$0.87	$0.33	$0.21
Weighted Average Basic Shares Outstanding	33.48M	54.18M	54.49M	54.59M	54.77M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Diluted Earnings per Share	$0.64	$0.61	$1.65	$0.67	$0.74	$0.84	$1.02	$1.35	$0.86	$0.33	$0.21
Weighted Average Diluted Shares Outstanding	33.48M	54.18M	54.49M	54.59M	54.77M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Weighted Average Basic & Diluted Shares Outstanding	33.48M	54.18M	54.49M	54.59M	54.77M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Cash Dividends to Common per Share	$0.06	$0.06	$0.08	$0.07	$0.51	$0.63	$0.66	$0.24	$0.24	$0.24	$0.24

This table shows Marten Transport's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	14	12	9.65	7.89	3.75	5.63	4.34	7.19	2.23	3.70	1.38
Consolidated Net Income / (Loss)	14	12	9.65	7.89	3.75	5.63	4.34	7.19	2.23	3.70	1.38
Net Income / (Loss) Continuing Operations	14	12	9.65	7.89	3.75	5.63	4.34	7.19	2.23	3.70	1.38
Total Pre-Tax Income	18	17	13	11	5.19	7.12	6.21	10	2.95	5.05	2.05
Total Operating Income	17	16	12	9.97	4.27	6.73	5.86	9.73	2.74	4.58	1.59
Total Gross Profit	89	178	119	116	109	108	107	108	99	98	98
Total Revenue	280	268	250	246	237	230	223	230	220	210	204
Operating Revenue	280	268	250	246	237	230	223	230	220	210	204
Total Cost of Revenue	191	90	131	130	128	122	116	122	121	112	106
Operating Cost of Revenue	191	90	131	130	128	122	116	122	121	112	106
Total Operating Expenses	71	163	107	107	105	101	101	98	96	94	96
Selling, General & Admin Expense	22	23	19	21	21	22	22	24	19	22	19
Depreciation Expense	29	29	29	28	27	28	27	27	25	25	25
Other Operating Expenses / (Income)	23	113	61	60	57	52	53	53	54	50	53
Other Special Charges / (Income)	-3.01	-1.80	-1.17	-2.53	-0.88	-0.39	-1.67	-5.18	-1.90	-3.32	-1.42
Total Other Income / (Expense), net	1.02	0.87	0.80	1.01	0.92	0.39	0.35	0.44	0.21	0.47	0.46
Other Income / (Expense), net	1.02	0.87	0.80	1.01	0.92	0.39	0.35	0.44	0.21	0.47	0.46
Income Tax Expense	4.65	4.13	3.40	3.10	1.44	1.49	1.87	2.98	0.73	1.35	0.67
Basic Earnings per Share	$0.17	$0.15	$0.12	$0.10	$0.05	$0.06	$0.05	$0.09	$0.03	$0.04	$0.02
Weighted Average Basic Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Diluted Earnings per Share	$0.17	$0.14	$0.12	$0.10	$0.05	$0.06	$0.05	$0.09	$0.03	$0.04	$0.02
Weighted Average Diluted Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Weighted Average Basic & Diluted Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Cash Dividends to Common per Share	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06	$0.06

This table details how cash moves in and out of Marten Transport's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.31	0.05	15	41	-25	35	-9.13	24	-27	-36	31
Net Cash From Operating Activities	129	134	122	154	156	190	171	219	164	135	93
Net Cash From Continuing Operating Activities	129	134	122	154	156	190	171	219	164	135	93
Net Income / (Loss) Continuing Operations	36	33	90	55	61	70	85	110	70	27	17
Consolidated Net Income / (Loss)	36	33	90	55	61	70	85	110	70	27	17
Depreciation Expense	75	82	85	89	95	103	103	111	117	112	105
Amortization Expense	-	-	-	6.98	6.86	6.58	6.43	6.60	7.17	6.89	6.40
Non-Cash Adjustments To Reconcile Net Income	-7.99	-8.60	-6.57	-3.70	-6.71	-5.33	-14	-4.21	-22	-5.79	-14
Changes in Operating Assets and Liabilities, net	26	26	-47	7.31	0.10	16	-9.44	-4.27	-8.11	-4.86	-22
Net Cash From Investing Activities	-125	-97	-95	-105	-141	-106	-124	-135	-173	-152	-43
Net Cash From Continuing Investing Activities	-125	-97	-95	-105	-141	-106	-124	-135	-173	-152	-43
Purchase of Property, Plant & Equipment	-188	-162	-157	-169	-189	-173	-199	-177	-241	-233	-145
Sale of Property, Plant & Equipment	63	65	61	64	48	67	76	42	68	81	102
Other Investing Activities, net	-0.04	-0.04	-0.04	-0.02	-0.03	-0.04	-0.04	-0.04	-0.05	-0.05	-0.05
Net Cash From Financing Activities	-3.28	-36	-11	-8.38	-41	-49	-57	-61	-19	-19	-20
Net Cash From Continuing Financing Activities	-3.28	-36	-11	-8.38	-41	-49	-57	-61	-19	-19	-20
Payment of Dividends	-3.34	-3.25	-4.36	-5.46	-42	-52	-55	-20	-20	-20	-20
Issuance of Common Equity	3.49	4.42	1.09	0.94	1.62	4.79	0.88	2.00	1.21	1.30	0.25
Other Financing Activities, net	-0.75	-0.13	-0.10	-0.10	-0.78	-0.44	-2.74	-1.61	-0.93	-0.38	-0.28
Cash Interest Paid	0.25	0.21	0.15	0.05	0.05	0.00	0.00	0.07	0.01	0.00	0.00
Cash Income Taxes Paid	2.12	0.03	14	9.53	4.95	18	22	24	37	19	27

This table details how cash moves in and out of Marten Transport's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-12	-15	21	3.47	-34	-26	23	-4.85	19	-6.21	27
Net Cash From Operating Activities	28	38	46	36	29	24	36	33	19	5.58	33
Net Cash From Continuing Operating Activities	28	38	46	36	29	24	36	33	19	5.58	33
Net Income / (Loss) Continuing Operations	14	12	9.65	7.89	3.75	5.63	4.34	7.19	2.23	3.70	1.38
Consolidated Net Income / (Loss)	14	12	9.65	7.89	3.75	5.63	4.34	7.19	2.23	3.70	1.38
Depreciation Expense	29	29	29	28	27	28	27	27	25	25	25
Amortization Expense	1.83	1.76	1.76	1.78	1.70	1.64	1.58	1.63	1.59	1.60	1.49
Non-Cash Adjustments To Reconcile Net Income	-11	7.44	1.99	-4.33	-0.46	0.07	-1.26	-9.22	9.60	-18	-1.29
Changes in Operating Assets and Liabilities, net	-5.02	-12	3.80	2.28	-2.91	-11	4.08	6.24	-20	-7.20	6.45
Net Cash From Investing Activities	-36	-48	-20	-28	-59	-45	-8.41	-33	5.79	-7.14	-1.61
Net Cash From Continuing Investing Activities	-36	-48	-20	-28	-59	-45	-8.41	-33	5.79	-7.14	-1.61
Purchase of Property, Plant & Equipment	-53	-65	-30	-65	-79	-58	-19	-57	-49	-19	-12
Sale of Property, Plant & Equipment	17	17	10	38	20	13	10	24	55	12	10
Other Investing Activities, net	-	-	-0.05	-	-	-	-0.05	-	-	-	-0.05
Net Cash From Financing Activities	-4.76	-4.83	-4.96	-4.58	-4.47	-4.63	-5.16	-4.89	-4.89	-4.65	-4.93
Net Cash From Continuing Financing Activities	-4.76	-4.83	-4.96	-4.58	-4.47	-4.63	-5.16	-4.89	-4.89	-4.65	-4.93
Payment of Dividends	-4.88	-4.88	-4.88	-4.88	-4.89	-4.89	-4.89	-4.89	-4.89	-4.89	-4.90
Issuance of Common Equity	0.12	0.05	0.31	0.31	0.42	0.26	0.01	-	-	0.24	0.24
Other Financing Activities, net	-	-	-0.38	-	-	-	-0.28	-	-	-	-0.28

This table presents Marten Transport's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	632	654	690	754	797	832	871	966	990	969	950
Total Current Assets	100	93	117	164	154	176	187	236	197	139	172
Cash & Equivalents	0.43	0.49	16	57	31	66	57	81	53	17	43
Note & Lease Receivable	11	4.44	6.13	3.81	11	4.20	6.97	7.22	10	5.36	13
Accounts Receivable	71	69	75	83	91	83	99	121	106	90	86
Prepaid Expenses	18	19	20	20	21	22	24	27	28	26	25
Other Current Assets	-	-	-	-	-	-	-	-	-	0.00	5.00
Plant, Property, & Equipment, net	528	558	572	588	640	654	682	728	792	829	777
Plant, Property & Equipment, gross	-	-	-	816	904	930	956	1,075	1,162	1,199	1,129
Accumulated Depreciation	197	202	212	228	264	276	274	347	370	370	352
Total Noncurrent Assets	3.47	2.49	1.87	2.15	2.03	1.81	1.46	1.67	1.52	1.63	1.56
Other Noncurrent Operating Assets	3.47	2.49	1.87	2.15	2.03	1.81	1.46	1.67	1.52	1.63	1.56
Total Liabilities & Shareholders' Equity	632	654	690	754	797	832	871	966	990	969	950
Total Liabilities	222	216	165	178	199	211	219	262	233	201	182
Total Current Liabilities	50	61	64	72	76	90	94	124	110	94	92
Accounts Payable	12	14	16	16	23	26	20	37	37	26	29
Accrued Expenses	38	46	48	56	53	64	73	87	74	68	63
Total Noncurrent Liabilities	172	156	101	106	123	122	125	137	123	107	90
Noncurrent Deferred & Payable Income Tax Liabilities	134	148	101	106	122	121	125	137	122	107	90
Other Noncurrent Operating Liabilities	-	-	-	0.00	0.65	0.41	0.29	0.41	0.25	0.28	0.19
Total Equity & Noncontrolling Interests	409	437	526	576	598	620	652	704	757	768	768
Total Preferred & Common Equity	409	437	526	576	598	620	652	704	757	768	768
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	409	437	526	576	598	620	652	704	757	768	768
Common Stock	77	75	77	77	80	86	87	48	51	54	56
Retained Earnings	333	363	449	499	517	534	565	656	707	714	712

This table presents Marten Transport's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	939	979	1,004	997	993	1,010	1,000	983	992	976	947
Total Current Assets	225	244	232	225	214	220	170	163	156	176	196
Cash & Equivalents	71	96	81	68	74	77	43	40	35	49	70
Note & Lease Receivable	4.44	7.99	11	12	10	11	6.89	4.72	7.39	9.20	8.11
Accounts Receivable	125	115	112	118	105	100	94	95	91	92	92
Prepaid Expenses	25	24	29	27	25	31	27	23	22	25	21
Other Current Assets	-	-	-	-	-	-	-	-	-	-	5.00
Plant, Property, & Equipment, net	712	734	771	771	777	789	828	819	834	793	750
Plant, Property & Equipment, gross	1,046	1,082	1,123	1,129	1,156	1,150	1,193	1,199	1,207	1,148	1,113
Accumulated Depreciation	335	349	352	358	378	361	365	380	373	355	363
Total Noncurrent Assets	1.42	1.64	1.61	1.62	1.50	1.52	1.71	1.78	1.74	6.66	1.55
Other Noncurrent Operating Assets	1.42	1.64	1.61	1.62	1.50	1.52	1.71	1.78	1.74	6.66	1.55
Total Liabilities & Shareholders' Equity	939	979	1,004	997	993	1,010	1,000	983	992	976	947
Total Liabilities	256	258	264	248	231	243	234	216	221	207	183
Total Current Liabilities	125	120	131	122	111	119	117	110	117	116	94
Accounts Payable	43	42	36	42	38	47	47	38	45	40	28
Accrued Expenses	82	78	95	80	74	72	69	72	72	76	66
Total Noncurrent Liabilities	131	138	133	126	119	124	117	106	104	92	89
Noncurrent Deferred & Payable Income Tax Liabilities	131	138	133	126	119	124	116	106	104	92	89
Other Noncurrent Operating Liabilities	0.21	0.34	0.31	0.32	0.20	0.22	0.35	0.39	0.32	0.25	0.16
Total Equity & Noncontrolling Interests	682	722	740	749	762	767	766	768	771	768	764
Total Preferred & Common Equity	682	722	740	749	762	767	766	768	771	768	764
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	682	722	740	749	762	767	766	768	771	768	764
Common Stock	47	48	49	50	51	52	53	54	55	55	56
Retained Earnings	635	674	691	699	712	715	713	714	716	713	709

This table displays calculated financial ratios and metrics derived from Marten Transport's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	81,520,424.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	81,520,424.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.18%	0.92%	4.02%	12.82%	7.07%	3.69%	11.35%	29.81%	-10.48%	-14.83%	-8.31%
EBITDA Growth	13.42%	2.57%	1.49%	17.66%	7.86%	12.89%	8.81%	18.60%	-16.80%	-28.89%	-12.08%
EBIT Growth	17.45%	-5.97%	-1.04%	25.78%	9.38%	20.21%	19.65%	29.03%	-34.86%	-61.30%	-32.93%
NOPAT Growth	22.12%	-4.93%	165.89%	-40.05%	10.34%	15.40%	23.06%	28.49%	-38.46%	-63.56%	-33.37%
Net Income Growth	19.81%	-6.38%	169.79%	-39.05%	10.98%	13.80%	22.92%	29.18%	-36.23%	-61.74%	-35.21%
EPS Growth	19.81%	-6.38%	170.49%	-39.05%	10.98%	13.51%	21.43%	32.35%	-36.30%	-61.63%	-36.36%
Operating Cash Flow Growth	56.97%	3.99%	-8.91%	26.52%	1.46%	21.18%	-9.70%	28.20%	-25.11%	-17.99%	-30.65%
Free Cash Flow Firm Growth	103.45%	2,723.07%	-28.57%	73.59%	-70.68%	516.11%	-44.76%	80.51%	-116.44%	-64.07%	295.22%
Invested Capital Growth	8.41%	-0.47%	14.61%	1.86%	9.04%	-2.11%	7.30%	4.82%	12.97%	6.60%	-3.50%
Revenue Q/Q Growth	-0.71%	0.58%	1.47%	2.76%	1.59%	1.17%	4.23%	4.61%	-4.58%	-3.77%	-2.25%
EBITDA Q/Q Growth	0.73%	0.33%	0.10%	8.88%	5.07%	3.81%	2.37%	2.52%	-7.49%	-6.48%	-3.18%
EBIT Q/Q Growth	-1.80%	-1.59%	0.24%	8.47%	-0.92%	7.51%	4.80%	1.84%	-15.16%	-20.56%	-7.84%
NOPAT Q/Q Growth	-0.56%	-1.04%	167.82%	-47.51%	-0.03%	6.19%	6.38%	0.37%	-16.52%	-20.72%	-10.70%
Net Income Q/Q Growth	-0.50%	-1.43%	169.40%	-47.27%	0.02%	12.46%	1.52%	0.72%	-15.71%	-20.08%	-9.99%
EPS Q/Q Growth	-0.50%	-1.43%	170.49%	-47.27%	0.02%	12.00%	0.99%	0.00%	-16.50%	-19.51%	-8.70%
Operating Cash Flow Q/Q Growth	2.93%	1.74%	-1.90%	10.73%	-4.67%	0.24%	5.16%	6.28%	-9.98%	-9.56%	-16.30%
Free Cash Flow Firm Q/Q Growth	152.99%	-9.17%	139.01%	26.24%	-71.38%	58.52%	-1.76%	-9.25%	-226.56%	-96.30%	84.74%
Invested Capital Q/Q Growth	0.98%	1.75%	10.77%	-1.73%	4.38%	-0.40%	0.63%	2.03%	3.36%	3.76%	0.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.03%	35.99%	50.66%	49.64%	48.64%	47.99%	47.50%	49.35%	48.90%	46.99%	46.68%
EBITDA Margin	20.45%	20.79%	20.28%	21.15%	21.31%	23.20%	22.67%	20.71%	19.25%	16.07%	15.41%
Operating Margin	9.18%	8.69%	8.15%	8.93%	9.07%	10.66%	11.47%	11.34%	7.96%	3.45%	2.59%
EBIT Margin	9.13%	8.50%	8.09%	9.02%	9.21%	10.68%	11.48%	11.41%	8.30%	3.77%	2.76%
Profit (Net Income) Margin	5.38%	4.99%	12.93%	6.99%	7.24%	7.95%	8.77%	8.73%	6.22%	2.79%	1.97%
Tax Burden Percent	58.90%	58.64%	159.87%	77.47%	78.61%	74.42%	76.46%	76.54%	74.93%	74.07%	71.56%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	41.10%	41.36%	-59.87%	22.53%	21.39%	25.58%	23.54%	23.46%	25.07%	25.93%	28.44%
Return on Invested Capital (ROIC)	8.37%	7.67%	19.05%	10.59%	11.08%	12.39%	14.87%	18.02%	10.17%	3.38%	2.22%
ROIC Less NNEP Spread (ROIC-NNEP)	7.66%	4.43%	33.87%	9.14%	8.96%	12.17%	14.81%	17.10%	5.91%	-3.19%	-1.24%
Return on Net Nonoperating Assets (RNNOA)	0.59%	0.23%	-0.30%	-0.60%	-0.67%	-0.98%	-1.43%	-1.74%	-0.54%	0.15%	0.05%
Return on Equity (ROE)	8.97%	7.90%	18.75%	9.99%	10.41%	11.41%	13.43%	16.28%	9.63%	3.53%	2.27%
Cash Return on Invested Capital (CROIC)	0.30%	8.14%	5.43%	8.75%	2.43%	14.52%	7.82%	13.31%	-2.01%	-3.01%	5.79%
Operating Return on Assets (OROA)	10.05%	8.88%	8.40%	9.84%	10.02%	11.47%	13.13%	15.70%	9.60%	3.71%	2.54%
Return on Assets (ROA)	5.92%	5.21%	13.43%	7.62%	7.88%	8.54%	10.04%	12.02%	7.20%	2.75%	1.82%
Return on Common Equity (ROCE)	8.97%	7.90%	18.75%	9.99%	10.41%	11.41%	13.43%	16.28%	9.63%	3.53%	2.27%
Return on Equity Simple (ROE_SIMPLE)	8.73%	7.65%	17.18%	9.55%	10.22%	11.20%	13.11%	15.68%	9.29%	3.51%	0.00%
Net Operating Profit after Tax (NOPAT)	36	34	91	54	60	69	85	110	68	25	16
NOPAT Margin	5.41%	5.09%	13.02%	6.92%	7.13%	7.94%	8.77%	8.68%	5.97%	2.55%	1.86%
Net Nonoperating Expense Percent (NNEP)	0.71%	3.24%	-14.82%	1.45%	2.12%	0.21%	0.05%	0.92%	4.26%	6.57%	3.46%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	15.59%	8.92%	3.20%	2.14%
Cost of Revenue to Revenue	64.97%	64.01%	49.34%	50.36%	51.36%	52.01%	52.50%	50.65%	51.10%	53.01%	53.32%
SG&A Expenses to Revenue	2.84%	2.94%	7.90%	7.70%	7.27%	7.91%	7.07%	7.01%	8.05%	8.63%	9.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.84%	27.30%	42.52%	40.70%	39.57%	37.33%	36.03%	38.01%	40.94%	43.54%	44.08%
Earnings before Interest and Taxes (EBIT)	61	57	56	71	78	93	112	144	94	36	24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	136	140	142	167	180	203	221	262	218	155	136
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.23	1.48	1.81	1.32	1.76	2.13	2.12	2.22	2.22	1.66	1.21
Price to Tangible Book Value (P/TBV)	1.23	1.48	1.81	1.32	1.76	2.13	2.12	2.22	2.22	1.66	1.21
Price to Revenue (P/Rev)	0.76	0.97	1.36	0.96	1.25	1.51	1.42	1.24	1.49	1.32	1.05
Price to Earnings (P/E)	14.14	19.35	10.51	13.80	17.25	19.06	16.16	14.17	23.91	47.23	53.18
Dividend Yield	0.67%	0.50%	0.46%	0.72%	0.62%	0.83%	3.73%	1.24%	1.16%	1.54%	2.11%
Earnings Yield	7.07%	5.17%	9.52%	7.25%	5.80%	5.25%	6.19%	7.06%	4.18%	2.12%	1.88%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.47	1.83	1.35	1.80	2.27	2.22	2.38	2.31	1.67	1.22
Enterprise Value to Revenue (EV/Rev)	0.82	0.98	1.34	0.89	1.21	1.44	1.36	1.17	1.44	1.30	1.00
Enterprise Value to EBITDA (EV/EBITDA)	3.99	4.70	6.59	4.22	5.69	6.20	5.99	5.67	7.48	8.10	6.50
Enterprise Value to EBIT (EV/EBIT)	8.95	11.48	16.52	9.89	13.15	13.47	11.84	10.29	17.35	34.51	36.28
Enterprise Value to NOPAT (EV/NOPAT)	15.10	19.16	10.26	12.89	16.99	18.13	15.49	13.52	24.14	50.97	53.94
Enterprise Value to Operating Cash Flow (EV/OCF)	4.22	4.90	7.66	4.56	6.53	6.64	7.73	6.76	9.91	9.30	9.46
Enterprise Value to Free Cash Flow (EV/FCFF)	422.15	18.04	35.98	15.61	77.41	15.47	29.46	18.30	0.00	0.00	20.71
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.09	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.08	0.05	-0.01	-0.07	-0.08	-0.08	-0.10	-0.10	-0.09	-0.05	-0.04
Leverage Ratio	1.52	1.52	1.40	1.31	1.32	1.34	1.34	1.35	1.34	1.28	1.25
Compound Leverage Factor	1.52	1.52	1.40	1.31	1.32	1.34	1.34	1.35	1.34	1.28	1.25
Debt to Total Capital	8.47%	1.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	8.47%	1.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	91.53%	98.23%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.28	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.28	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.28	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	1.05	0.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	1.04	0.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	1.05	0.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.57	3.95	5.73	4.99	5.58	6.21	6.36	6.48	6.89	6.00	5.22
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.01	1.54	1.81	2.27	2.02	1.96	2.00	1.90	1.78	1.48	1.86
Quick Ratio	1.64	1.22	1.51	2.00	1.75	1.71	1.74	1.68	1.53	1.20	1.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1.29	36	26	45	13	81	45	81	-13	-22	43
Operating Cash Flow to CapEx	102.90%	137.59%	127.92%	147.09%	110.45%	178.38%	138.41%	162.68%	95.29%	88.64%	218.30%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.04	1.04	1.09	1.09	1.07	1.14	1.38	1.16	0.98	0.92
Accounts Receivable Turnover	9.31	9.60	9.69	9.97	9.71	10.04	10.67	11.51	10.00	9.86	10.05
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.34	1.24	1.24	1.36	1.37	1.35	1.46	1.79	1.49	1.19	1.10
Accounts Payable Turnover	29.72	32.55	22.32	24.65	22.43	18.71	22.30	22.28	15.66	16.40	17.28
Days Sales Outstanding (DSO)	39.21	38.01	37.67	36.59	37.60	36.35	34.19	31.72	36.49	37.02	36.31
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	12.28	11.21	16.36	14.81	16.27	19.51	16.37	16.38	23.30	22.25	21.13
Cash Conversion Cycle (CCC)	26.93	26.80	21.31	21.79	21.33	16.84	17.82	15.35	13.19	14.77	15.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	447	445	510	519	566	554	595	623	704	751	724
Invested Capital Turnover	1.55	1.51	1.46	1.53	1.55	1.56	1.69	2.08	1.70	1.32	1.20
Increase / (Decrease) in Invested Capital	35	-2.12	65	9.48	47	-12	40	29	81	46	-26
Enterprise Value (EV)	543	655	933	703	1,022	1,258	1,323	1,484	1,630	1,254	884
Market Capitalization	505	648	949	759	1,053	1,324	1,380	1,564	1,683	1,271	928
Book Value per Share	$12.18	$13.43	$9.64	$10.58	$10.93	$7.50	$7.86	$8.68	$9.31	$9.43	$9.42
Tangible Book Value per Share	$12.18	$13.43	$9.64	$10.58	$10.93	$7.50	$7.86	$8.68	$9.31	$9.43	$9.42
Total Capital	447	445	526	576	598	620	652	704	757	768	768
Total Debt	38	7.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	38	7.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	37	7.40	-16	-57	-31	-66	-57	-81	-53	-17	-43
Capital Expenditures (CapEx)	125	97	95	105	142	106	124	135	172	152	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	50	32	37	35	46	20	36	31	33	28	36
Debt-free Net Working Capital (DFNWC)	50	33	52	92	78	86	93	112	86	45	79
Net Working Capital (NWC)	50	33	52	92	78	86	93	112	86	45	79
Net Nonoperating Expense (NNE)	0.22	0.73	0.62	-0.53	-0.94	-0.10	-0.03	-0.63	-2.85	-2.32	-1.05
Net Nonoperating Obligations (NNO)	37	7.40	-16	-57	-31	-66	-57	-81	-53	-17	-43
Total Depreciation and Amortization (D&A)	75	82	85	96	102	109	109	118	124	119	112
Debt-free, Cash-free Net Working Capital to Revenue	7.48%	4.81%	5.24%	4.42%	5.50%	2.26%	3.74%	2.45%	2.93%	2.88%	4.10%
Debt-free Net Working Capital to Revenue	7.55%	4.88%	7.50%	11.62%	9.23%	9.82%	9.59%	8.82%	7.63%	4.67%	8.99%
Net Working Capital to Revenue	7.55%	4.88%	7.50%	11.62%	9.23%	9.82%	9.59%	8.82%	7.63%	4.67%	8.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.43	$0.41	$1.11	$0.67	$0.75	$0.84	$1.03	$1.35	$0.87	$0.33	$0.21
Adjusted Weighted Average Basic Shares Outstanding	80.98M	81.62M	81.85M	81.70M	82.15M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Adjusted Diluted Earnings per Share	$0.42	$0.41	$1.10	$0.67	$0.74	$0.84	$1.02	$1.35	$0.86	$0.33	$0.21
Adjusted Weighted Average Diluted Shares Outstanding	80.98M	81.62M	81.85M	81.70M	82.15M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	80.98M	81.62M	81.85M	81.70M	82.15M	82.71M	83.04M	81.15M	81.32M	81.46M	81.54M
Normalized Net Operating Profit after Tax (NOPAT)	36	34	36	49	53	62	73	99	57	21	7.76
Normalized NOPAT Margin	5.41%	5.09%	5.15%	6.21%	6.32%	7.05%	7.49%	7.87%	5.07%	2.17%	0.88%
Pre Tax Income Margin	9.13%	8.50%	8.09%	9.02%	9.21%	10.68%	11.48%	11.41%	8.30%	3.77%	2.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.35%	9.72%	4.83%	9.92%	68.92%	75.35%	64.07%	17.73%	27.72%	72.58%	112.14%
Augmented Payout Ratio	54.60%	32.17%	4.83%	16.75%	68.92%	76.21%	64.07%	55.56%	27.72%	72.58%	112.14%

This table displays calculated financial ratios and metrics derived from Marten Transport's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	81,520,424.00	81,542,153.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	81,520,424.00	81,542,153.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.05	0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-13.84%	-16.85%	-16.22%	-13.80%	-15.09%	-14.09%	-10.62%	-6.63%	-7.12%	-8.82%	-8.79%
EBITDA Growth	-23.42%	-27.28%	-29.13%	-32.31%	-30.16%	-22.84%	-18.63%	-4.55%	-12.55%	-12.34%	-19.04%
EBIT Growth	-46.38%	-50.38%	-56.30%	-62.49%	-71.55%	-56.91%	-52.41%	-7.44%	-43.15%	-29.11%	-66.99%
NOPAT Growth	-49.54%	-53.23%	-58.58%	-66.01%	-75.96%	-54.70%	-54.83%	-3.95%	-33.10%	-36.94%	-73.75%
Net Income Growth	-46.98%	-51.40%	-57.13%	-63.93%	-72.39%	-54.57%	-55.06%	-8.91%	-40.70%	-34.37%	-68.12%
EPS Growth	-46.88%	-54.84%	-57.14%	-62.96%	-70.59%	-57.14%	-58.33%	-10.00%	-40.00%	-33.33%	-60.00%
Operating Cash Flow Growth	-56.42%	-32.39%	-7.13%	-26.85%	4.78%	-37.46%	-20.79%	-7.45%	-37.11%	-76.54%	-8.74%
Free Cash Flow Firm Growth	-1,149.73%	-1,862.48%	-157.64%	50.90%	32.02%	40.44%	36.04%	-71.31%	117.45%	172.07%	198.40%
Invested Capital Growth	11.51%	12.97%	10.15%	4.56%	6.19%	6.60%	5.65%	6.69%	-0.66%	-3.50%	-4.56%
Revenue Q/Q Growth	-2.15%	-4.05%	-6.92%	-1.38%	-3.60%	-2.92%	-3.16%	3.03%	-4.11%	-4.70%	-3.13%
EBITDA Q/Q Growth	-18.90%	-4.21%	-7.85%	-5.45%	-16.32%	5.84%	-2.83%	10.92%	-23.33%	6.09%	-10.26%
EBIT Q/Q Growth	-37.70%	-9.44%	-21.05%	-15.78%	-52.76%	37.18%	-12.82%	63.82%	-70.98%	71.06%	-59.41%
NOPAT Q/Q Growth	-39.06%	-8.51%	-22.90%	-20.94%	-56.89%	72.37%	-23.12%	68.11%	-69.97%	62.48%	-68.00%
Net Income Q/Q Growth	-37.83%	-8.82%	-22.20%	-18.21%	-52.41%	50.05%	-23.04%	65.77%	-69.02%	66.08%	-62.62%
EPS Q/Q Growth	-37.04%	-17.65%	-14.29%	-16.67%	-50.00%	20.00%	-16.67%	80.00%	-66.67%	33.33%	-50.00%
Operating Cash Flow Q/Q Growth	-42.55%	35.24%	20.18%	-21.65%	-17.71%	-19.29%	52.21%	-8.46%	-44.08%	-69.89%	492.06%
Free Cash Flow Firm Q/Q Growth	-23.30%	-20.17%	21.25%	57.92%	-70.71%	-5.29%	15.44%	-12.72%	117.39%	334.87%	15.45%
Invested Capital Q/Q Growth	3.31%	3.36%	-2.20%	0.12%	4.92%	3.76%	-3.07%	1.11%	-2.30%	0.78%	-4.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.68%	66.48%	47.70%	47.31%	45.95%	46.95%	47.81%	47.07%	45.00%	46.80%	48.12%
EBITDA Margin	17.56%	17.53%	17.36%	16.64%	14.44%	15.75%	15.80%	17.01%	13.60%	15.14%	14.03%
Operating Margin	6.16%	5.84%	4.91%	4.05%	1.80%	2.92%	2.63%	4.23%	1.24%	2.18%	0.78%
EBIT Margin	6.53%	6.16%	5.23%	4.46%	2.19%	3.09%	2.78%	4.42%	1.34%	2.40%	1.01%
Profit (Net Income) Margin	4.86%	4.62%	3.86%	3.20%	1.58%	2.44%	1.94%	3.13%	1.01%	1.76%	0.68%
Tax Burden Percent	74.52%	75.03%	73.94%	71.80%	72.32%	79.10%	69.83%	70.66%	75.43%	73.24%	67.45%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	25.48%	24.97%	26.06%	28.20%	27.68%	20.90%	30.17%	29.34%	24.57%	26.76%	32.55%
Return on Invested Capital (ROIC)	8.43%	7.47%	5.98%	4.50%	1.85%	3.06%	2.43%	3.87%	1.17%	1.91%	0.64%
ROIC Less NNEP Spread (ROIC-NNEP)	7.34%	6.49%	5.29%	3.58%	0.65%	2.18%	2.00%	3.32%	0.83%	0.79%	0.08%
Return on Net Nonoperating Assets (RNNOA)	-0.72%	-0.59%	-0.61%	-0.37%	-0.05%	-0.10%	-0.15%	-0.24%	-0.05%	-0.03%	-0.01%
Return on Equity (ROE)	7.71%	6.87%	5.38%	4.13%	1.81%	2.96%	2.28%	3.62%	1.12%	1.88%	0.64%
Cash Return on Invested Capital (CROIC)	1.63%	-2.01%	-1.33%	1.59%	-1.59%	-3.01%	-2.72%	-3.75%	3.21%	5.79%	6.55%
Operating Return on Assets (OROA)	8.00%	7.13%	5.74%	4.62%	2.19%	3.04%	2.64%	4.07%	1.22%	2.21%	0.90%
Return on Assets (ROA)	5.96%	5.35%	4.24%	3.32%	1.59%	2.41%	1.84%	2.88%	0.92%	1.62%	0.61%
Return on Common Equity (ROCE)	7.71%	6.87%	5.38%	4.13%	1.81%	2.96%	2.28%	3.62%	1.12%	1.88%	0.64%
Return on Equity Simple (ROE_SIMPLE)	11.14%	0.00%	7.54%	5.68%	4.40%	0.00%	2.82%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	13	12	9.06	7.16	3.09	5.32	4.09	6.88	2.07	3.36	1.07
NOPAT Margin	4.59%	4.38%	3.63%	2.91%	1.30%	2.31%	1.83%	2.99%	0.94%	1.60%	0.53%
Net Nonoperating Expense Percent (NNEP)	1.09%	0.97%	0.69%	0.92%	1.20%	0.88%	0.43%	0.55%	0.35%	1.13%	0.56%
Return On Investment Capital (ROIC_SIMPLE)	-	1.55%	-	-	-	0.69%	0.53%	0.89%	0.27%	0.44%	0.14%
Cost of Revenue to Revenue	68.32%	33.52%	52.30%	52.69%	54.05%	53.05%	52.19%	52.93%	55.00%	53.20%	51.88%
SG&A Expenses to Revenue	7.88%	8.55%	7.58%	8.41%	9.00%	9.60%	9.73%	10.25%	8.76%	10.45%	9.52%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.51%	60.64%	42.79%	43.25%	44.15%	44.03%	45.19%	42.84%	43.76%	44.62%	47.34%
Earnings before Interest and Taxes (EBIT)	18	17	13	11	5.19	7.12	6.21	10	2.95	5.05	2.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	49	47	43	41	34	36	35	39	30	32	29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.11	2.22	1.96	1.96	1.88	1.66	1.46	1.37	1.13	1.21	1.40
Price to Tangible Book Value (P/TBV)	2.11	2.22	1.96	1.96	1.88	1.66	1.46	1.37	1.13	1.21	1.40
Price to Revenue (P/Rev)	1.33	1.49	1.38	1.44	1.44	1.32	1.19	1.15	0.96	1.05	1.24
Price to Earnings (P/E)	18.94	23.91	26.04	34.48	42.78	47.23	51.72	50.63	44.84	53.18	73.88
Dividend Yield	1.23%	1.16%	1.30%	1.30%	1.36%	1.54%	1.75%	1.85%	2.25%	2.11%	1.83%
Earnings Yield	5.28%	4.18%	3.84%	2.90%	2.34%	2.12%	1.93%	1.98%	2.23%	1.88%	1.35%
Enterprise Value to Invested Capital (EV/IC)	2.22	2.31	2.07	2.07	1.93	1.67	1.48	1.39	1.14	1.22	1.44
Enterprise Value to Revenue (EV/Rev)	1.28	1.44	1.31	1.36	1.40	1.30	1.15	1.11	0.91	1.00	1.16
Enterprise Value to EBITDA (EV/EBITDA)	6.43	7.48	7.12	7.89	8.44	8.10	7.34	7.06	5.83	6.50	7.73
Enterprise Value to EBIT (EV/EBIT)	13.67	17.35	18.46	24.21	30.56	34.51	36.53	35.68	30.98	36.28	49.50
Enterprise Value to NOPAT (EV/NOPAT)	18.71	24.14	26.02	34.90	45.04	50.97	54.85	52.82	44.64	53.94	74.89
Enterprise Value to Operating Cash Flow (EV/OCF)	8.29	9.91	8.85	9.64	9.38	9.30	8.60	8.35	7.34	9.46	11.08
Enterprise Value to Free Cash Flow (EV/FCFF)	143.66	0.00	0.00	132.65	0.00	0.00	0.00	0.00	35.45	20.71	21.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.10	-0.09	-0.11	-0.10	-0.07	-0.05	-0.07	-0.07	-0.06	-0.04	-0.07
Leverage Ratio	1.35	1.34	1.33	1.34	1.32	1.28	1.29	1.30	1.29	1.25	1.26
Compound Leverage Factor	1.35	1.34	1.33	1.34	1.32	1.28	1.29	1.30	1.29	1.25	1.26
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	6.18	6.64	6.16	5.88	5.78	5.91	5.16	4.89	4.55	5.15	5.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.85	1.78	1.92	1.85	1.46	1.48	1.48	1.34	1.52	1.86	2.08
Quick Ratio	1.62	1.53	1.70	1.59	1.23	1.20	1.28	1.15	1.30	1.54	1.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-58	-69	-54	-23	-39	-41	-35	-39	6.82	30	34
Operating Cash Flow to CapEx	78.51%	79.15%	226.35%	128.96%	49.78%	53.00%	433.14%	100.11%	0.00%	78.23%	2,128.07%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	1.16	1.10	1.04	1.00	0.98	0.95	0.92	0.92	0.92	0.90
Accounts Receivable Turnover	9.78	10.00	9.82	9.87	9.48	9.86	9.35	9.62	9.74	10.05	9.23
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.60	1.49	1.43	1.34	1.25	1.19	1.17	1.13	1.12	1.10	1.10
Accounts Payable Turnover	20.47	15.66	14.03	12.99	10.71	16.40	13.16	10.61	11.07	17.28	14.05
Days Sales Outstanding (DSO)	37.31	36.49	37.18	36.98	38.52	37.02	39.04	37.92	37.46	36.31	39.53
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	17.84	23.30	26.02	28.10	34.06	22.25	27.74	34.40	32.98	21.13	25.98
Cash Conversion Cycle (CCC)	19.47	13.19	11.16	8.89	4.45	14.77	11.30	3.53	4.48	15.18	13.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	681	704	689	690	723	751	728	736	719	724	694
Invested Capital Turnover	1.84	1.70	1.65	1.55	1.43	1.32	1.32	1.29	1.25	1.20	1.22
Increase / (Decrease) in Invested Capital	70	81	63	30	42	46	39	46	-4.76	-26	-33
Enterprise Value (EV)	1,513	1,630	1,424	1,424	1,398	1,254	1,078	1,024	820	884	1,001
Market Capitalization	1,582	1,683	1,497	1,501	1,441	1,271	1,118	1,059	869	928	1,071
Book Value per Share	$9.22	$9.31	$9.37	$9.42	$9.41	$9.43	$9.42	$9.46	$9.42	$9.42	$9.37
Tangible Book Value per Share	$9.22	$9.31	$9.37	$9.42	$9.41	$9.43	$9.42	$9.46	$9.42	$9.42	$9.37
Total Capital	749	757	762	767	766	768	768	771	768	768	764
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-68	-53	-74	-77	-43	-17	-40	-35	-49	-43	-70
Capital Expenditures (CapEx)	36	48	20	28	59	45	8.36	33	-5.79	7.14	1.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)	35	33	29	23	11	28	13	4.08	11	36	32
Debt-free Net Working Capital (DFNWC)	103	86	103	101	54	45	53	39	60	79	101
Net Working Capital (NWC)	103	86	103	101	54	45	53	39	60	79	101
Net Nonoperating Expense (NNE)	-0.76	-0.65	-0.59	-0.73	-0.67	-0.31	-0.24	-0.31	-0.16	-0.34	-0.31
Net Nonoperating Obligations (NNO)	-68	-53	-74	-77	-43	-17	-40	-35	-49	-43	-70
Total Depreciation and Amortization (D&A)	31	31	30	30	29	29	29	29	27	27	26
Debt-free, Cash-free Net Working Capital to Revenue	2.94%	2.93%	2.66%	2.24%	1.05%	2.88%	1.38%	0.44%	1.21%	4.10%	3.65%
Debt-free Net Working Capital to Revenue	8.68%	7.63%	9.47%	9.64%	5.34%	4.67%	5.64%	4.25%	6.68%	8.99%	11.73%
Net Working Capital to Revenue	8.68%	7.63%	9.47%	9.64%	5.34%	4.67%	5.64%	4.25%	6.68%	8.99%	11.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.17	$0.15	$0.12	$0.10	$0.05	$0.06	$0.05	$0.09	$0.03	$0.04	$0.02
Adjusted Weighted Average Basic Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Adjusted Diluted Earnings per Share	$0.17	$0.14	$0.12	$0.10	$0.05	$0.06	$0.05	$0.09	$0.03	$0.04	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	81.31M	81.32M	81.36M	81.41M	81.45M	81.46M	81.49M	81.52M	81.52M	81.54M	81.59M
Normalized Net Operating Profit after Tax (NOPAT)	11	10	8.19	5.34	2.45	5.02	2.93	3.22	0.63	0.93	0.12
Normalized NOPAT Margin	3.79%	3.88%	3.28%	2.17%	1.03%	2.18%	1.31%	1.40%	0.29%	0.44%	0.06%
Pre Tax Income Margin	6.53%	6.16%	5.23%	4.46%	2.19%	3.09%	2.78%	4.42%	1.34%	2.40%	1.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.34%	27.72%	33.93%	44.85%	57.97%	72.58%	90.45%	93.53%	100.93%	112.14%	135.04%
Augmented Payout Ratio	23.34%	27.72%	33.93%	44.85%	57.97%	72.58%	90.45%	93.53%	100.93%	112.14%	135.04%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, four-year trend scan for Marten Transport (NASDAQ: MRTN) based on the quarterly cash flow, income, and balance sheet data provided. The focus is on points that may be relevant to retail investors evaluating profitability, cash generation, and balance-sheet health.

Gross margin has stayed in the mid-40s percent range across 2022–2025, indicating consistent profitability on core operations despite revenue fluctuations.
Net income attributable to common shareholders has remained positive in all observed periods and quarters, signaling ongoing profitability even as quarterly earnings have fluctuated and trended lower over the window.
The company has maintained a steady quarterly cash dividend of $0.06 per share, supporting ongoing shareholder returns.
Balance-sheet strength is evident from a robust equity base (generally around $760–770M) and solid total assets (near or above $970–1,000M) across the period, with manageable liability levels.
Cash flow from operations has shown positive activity across multiple periods, highlighting underlying cash-generation ability to support capex and distributions even during revenue cyclicality.
Revenue has remained within a relatively predictable band for a trucking-focused operator (roughly $210M–$250M per quarter in core periods), suggesting stable demand exposure over time.
Depreciation and amortization are consistently large, non-cash charges (approximately $25–$29M per quarter), a normal feature for asset-heavy operations and a factor weighing on reported net income vs. cash flow.
Capital expenditures remain substantial (PPE purchases in the tens of millions per quarter), contributing to recurring negative cash flow from investing activities and balancing long-term asset growth with short-term liquidity considerations.
Earnings per share have declined meaningfully from around $0.31 in early 2022 to about $0.04 by late 2025, signaling a material contraction in per-share profitability over the period.
Net cash from financing activities has often been negative due to sustained dividend payments and financing actions, leading to a negative net change in cash in several periods and potential liquidity pressure if operating cash flow weakens further.

05/21/26 02:31 PM ETAI Generated. May Contain Errors.

Marten Transport Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Marten Transport's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Marten Transport's net income for the last 5 years looks like this:

2021: $85.43 million
2022: $110.35 million
2023: $70.37 million
2024: $26.92 million
2025: $17.44 million

See Marten Transport's forecast for analyst expectations on what's next for the company.

Marten Transport's total operating income in 2025 was $22.91 million, based on the following breakdown:

Total Gross Profit: $412.47 million
Total Operating Expenses: $389.56 million

Over the last 10 years, Marten Transport's total revenue changed from $664.99 million in 2015 to $883.65 million in 2025, a change of 32.9%.

Marten Transport's total liabilities were at $182.14 million at the end of 2025, a 9.3% decrease from 2024, and a 18.0% decrease since 2015.

In the past 10 years, Marten Transport's cash and equivalents has ranged from $434 thousand in 2015 to $80.60 million in 2022, and is currently $43.28 million as of their latest financial filing in 2025.

Over the last 10 years, Marten Transport's book value per share changed from 12.18 in 2015 to 9.42 in 2025, a change of -22.7%.

Related Companies

Financial statements for NASDAQ:MRTN last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Marten Transport (MRTN) Financials

Financials Breakdown Chart

Key Financial Trends

Marten Transport Financials - Frequently Asked Questions

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Marten Transport (MRTN) Financials

Annual Income Statements for Marten Transport

Quarterly Income Statements for Marten Transport

Annual Cash Flow Statements for Marten Transport

Quarterly Cash Flow Statements for Marten Transport

Annual Balance Sheets for Marten Transport

Quarterly Balance Sheets for Marten Transport

Annual Metrics And Ratios for Marten Transport

Quarterly Metrics And Ratios for Marten Transport

Financials Breakdown Chart

Key Financial Trends

Marten Transport Financials - Frequently Asked Questions

When does Marten Transport's fiscal year end?

How has Marten Transport's net income changed over the last 10 years?

What is Marten Transport's operating income?

How has Marten Transport's revenue changed over the last 10 years?

How much debt does Marten Transport have?

How much cash does Marten Transport have?

How has Marten Transport's book value per share changed over the last 10 years?

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