Marten Transport Ltd NasdaqGS MRTN Financials

5/22/2018 Marten Transport Ltd NasdaqGS MRTN Financials

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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Key Stats

In Millions of the trading currency, except per share items. Currency: Trading Currency Conversion: Today's Spot Rate

Order: Latest on Right Units: S&P Capital IQ (Defau

Decimals: Capital IQ (Default)

Key Financials

For the Fiscal Period Ending 12 months

Dec-31-2010A

12 months

Dec-31-2011A

12 months

Dec-31-2012A

12 months

Dec-31-2013A

LTM

12 months

Mar-31-2014A

Currency USD USD USD USD USD

Total Revenue 516.9 603.7 638.5 659.2 654.1

Growth Over Prior Year 2.2% 16.8% 5.8% 3.3% 0.4%

Gross Profit 120.9 135.2 142.5 155.4 154.2

Margin % 23.4% 22.4% 22.3% 23.6% 23.6%

EBITDA 86.1 96.8 101.5 110.5 109.0

Margin % 16.7% 16.0% 15.9% 16.8% 16.7%

EBIT 34.2 39.2 40.6 46.0 43.9

Margin % 6.6% 6.5% 6.4% 7.0% 6.7%

Earnings from Cont. Ops. 20.4 25.1 27.8 30.2 28.2

Margin % 3.9% 4.2% 4.3% 4.6% 4.3%

Net Income 19.7 24.3 27.3 30.1 28.2

Margin % 3.8% 4.0% 4.3% 4.6% 4.3%

Diluted EPS Excl. Extra Items 0.6 0.73 0.82 0.9 0.84Growth Over Prior Year 21.6% 21.7% 12.3% 9.8% (3.8%)

All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages.

Growth rates for the LTM period are calculated against the LTM period ending 12 months before.

All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as f inancials.

Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page.

Current Capitalization (Millions of USD)

Currency USD Share Price as of May-30-2014 $24.09

Shares Out. 33.4


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Market Capitalization** 803.5

- Cash & Short Term Investments 19.3

+ Total Debt 0+ Pref. Equity -

+ Total Minority Interest -

= Total Enterprise Value (TEV) 784.2

Book Value of Common Equity 364.2

+ Pref. Equity -

+ Total Minority Interest -

+ Total Debt 0

= Total Capital 364.2

**For companies that have multiple share classes that publicly trade,

we are incorporating the different prices to calculate our company

level market capitalization. Please click on the value to see the

detailed calculation. Prices shown on this page are the close price of

the companys primary stock class. Shares shown on this page are

total company as-reported share values.

Note: Striped area represents the impact of negative Net Liability on Market Cap.

Total Liability includes Total Debt, Minority Interest and Pref. Equity.

Net Liability includes Total Liability, net of Cash and Short Term Investments.TEV includes Market Cap and Net Liability.

Total Capital includes Common Equity and Total Liability.


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Valuation Multiples based on Current Capitalization


Dec-31-2013A

LTM

12 months

Mar-31-2014A

12 months

Dec-31-2014E

12 months

Dec-31-2015E

12 months

Dec-31-2016ETEV/Total Revenue 1.2x 1.2x 1.13x 1.04x 1.00x

TEV/EBITDA 7.1x 7.2x 6.14x 5.35x 5.33x

TEV/EBIT 17.2x 17.9x - - -

P/Diluted EPS Before Extra 26.8x 28.7x 22.65x 18.25x 18.25x

P/BV 2.2x 2.2x - - -

Price/Tang BV 2.2x 2.2x - - -


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lt)

12 months

Dec-31-2014E

12 months

Dec-31-2015E

12 months

Dec-31-2016E

USD USD USD

695.83 754.63 781.1

5.55% 8.45% 3.51%

- - -

- - -

127.76 146.59 147.1

18.36% 19.42% 18.83%

- - -

- - -

- - -

- - -

- - -

- - -

1.06 1.32 1.32

18.19% 24.09% 0.00%


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Income Statement

In Millions of the reported currency, except per share i tems. Template: Standard Restatement: Latest Filings

Period Type: Annual Order: Latest on Right

Currency: Reported Currency Conversion: Today's Spot Rate

Units: S&P Capital IQ (Defau Decimals: Capital IQ (Default)

Income Statement

For the Fiscal Period Ending

Reclassified

12 months

Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012

12 months

Dec-31-2013


Revenue 505.9 516.9 603.7 638.5 659.2

Other Revenue - - - - -

Total Revenue 505.9 516.9 603.7 638.5 659.2

Cost Of Goods Sold 387.6 396.0 468.5 496.0 503.8

Gross Profit 118.3 120.9 135.2 142.5 155.4

Selling General & Admin Exp. 19.9 16.6 18.2 20.7 23.7

R & D Exp. - - - - -

Depreciation & Amort. 53.1 51.9 57.5 60.9 64.5

Other Operating Expense/(Income) 17.6 18.2 20.3 20.3 21.2

Other Operating Exp., Total 90.5 86.7 96.0 101.9 109.4

Operating Income 27.7 34.2 39.2 40.6 46.0

Interest Expense 0 - - - -

Interest and Invest. Income - 0.0 - - - Net Interest Exp. 0 0.0 - - -

Other Non-Operating Inc. (Exp.) - - 0.0 0.0 0.4

EBT Excl. Unusual Items 27.7 34.2 39.3 40.6 46.4

Impairment of Goodwill - - - - -

Gain (Loss) On Sale Of Assets 1.6 1.1 3.8 5.3 6.0

Other Unusual Items - - - - -

EBT Incl. Unusual Items 29.3 35.3 43.1 45.9 52.4

Income Tax Expense 12.5 14.9 18.0 18.1 22.2

Earnings from Cont. Ops. 16.9 20.4 25.1 27.8 30.2


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Earnings of Discontinued Ops. - - - - -

Extraord. Item & Account. Change - - - - -

Net Income to Company 16.9 20.4 25.1 27.8 30.2

Minority Int. in Earnings (0.6) (0.6) (0.8) (0.5) (0.1)

Net Income 16.3 19.7 24.3 27.3 30.1

Pref. Dividends and Other Adj. - - - - -

NI to Common Incl Extra Items 16.3 19.7 24.3 27.3 30.1

NI to Common Excl. Extra Items 16.3 19.7 24.3 27.3 30.1

Per Share Items

Basic EPS $0.5 $0.6 $0.74 $0.82 $0.91

Basic EPS Excl. Extra Items 0.5 0.6 0.74 0.82 0.91

Weighted Avg. Basic Shares Out. 32.8 32.9 33.0 33.1 33.2

Diluted EPS $0.49 $0.6 $0.73 $0.82 $0.9

Diluted EPS Excl. Extra Items 0.49 0.6 0.73 0.82 0.9

Weighted Avg. Diluted Shares Out. 33.0 33.0 33.1 33.2 33.4

Normalized Basic EPS $0.51 $0.63 $0.72 $0.75 $0.87

Normalized Diluted EPS 0.51 0.63 0.72 0.75 0.87

Dividends per Share NA $0.03 $0.05 $0.06 $0.08

Payout Ratio % NA 4.4% 7.2% 7.8% 9.2%

Supplemental Items

EBITDA 80.8 86.1 96.8 101.5 110.5

EBITA 27.7 34.2 39.2 40.6 46.0

EBIT 27.7 34.2 39.2 40.6 46.0

Effective Tax Rate % 42.5% 42.3% 41.7% 39.5% 42.3%Current Domestic Taxes 6.9 4.4 7.9 13.3 17.9

Total Current Taxes 6.9 4.4 7.9 13.3 17.9

Deferred Domestic Taxes 5.6 10.6 10.1 4.8 4.3

Total Deferred Taxes 5.6 10.6 10.1 4.8 4.3

Normalized Net Income 16.7 20.7 23.7 24.9 28.9

Filing Date Mar-14-2012 Mar-14-2013 Mar-12-2014 Mar-12-2014 Mar-12-2014

Restatement Type RC NC NC NC O

Calculation Type REP REP REP REP REP

Supplemental Operating Expense Items

Stock-Based Comp., COGS 0.6 1.3 1.3 1.2 1.1

Stock-Based Comp., Unallocated - - - - -


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Stock-Based Comp., Total 0.6 1.3 1.3 1.2 1.1

Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.


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LTM

12 months

Mar-31-2014

USD

654.1

-

654.1

499.9

154.2

24.0-

65.2

21.2

110.4

43.9

-

--

0.5

44.4

-

4.2

-

48.6

20.3

28.2


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-

-

28.2

0

28.2

-

28.2

28.2

$0.85

0.85

33.3

$0.84

0.84

33.5

$0.83

0.83

$0.09

10.8%

109.0

43.9

43.9

41.9%17.9

17.9

4.3

4.3

27.7

May-09-2014

O

LTM

1.1

0


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1.1


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Balance Sheet

In Millions of the reported currency, except per share items. Template: Standard Restatement: Latest FilingsPeriod Type: Annual Order: Latest on Right



Balance Sheet

Balance Sheet as of:

Dec-31-2009 Dec-31-2010 Dec-31-2011

Restated

Dec-31-2012 Dec-31-2013


ASSETS

Cash And Equivalents 5.4 5.3 20.8 3.5 13.7

Short Term Investments 0.1 0.1 - - -

Total Cash & ST Investments 5.5 5.4 20.8 3.5 13.7

Accounts Receivable 45.4 51.1 59.4 66.2 70.9

Other Receivables 4.4 13.0 3.4 7.2 4.1

Total Receivables 49.8 64.1 62.8 73.4 75.0

Inventory 2.2 2.8 3.3 3.1 3.1

Prepaid Exp. 7.2 7.5 8.4 8.2 8.2

Deferred Tax Assets, Curr. 5.2 4.8 2.7 3.2 3.4

Other Current Assets 2.9 3.0 3.7 4.3 4.0

Total Current Assets 72.8 87.7 101.8 95.5 107.4

Gross Property, Plant & Equipment 491.1 515.6 524.0 551.1 579.9

Accumulated Depreciation (149.7) (143.6) (155.8) (156.7) (164.9)

Net Property, Plant & Equipment 341.5 372.1 368.2 394.5 415.0

Other Long-Term Assets 0.5 0.5 0.6 0.6 3.4Total Assets 414.8 460.3 470.6 490.6 525.8

LIABILITIES

Accounts Payable 16.3 17.8 17.9 16.1 19.4

Accrued Exp. 31.7 29.9 27.8 26.8 26.7

Curr. Port. of LT Debt 1.4 19.3 - - -

Curr. Income Taxes Payable 3.1 0.5 0.7 4.0 3.1

Other Current Liabilities 1.7 1.1 - - 3.9

Total Current Liabilities 54.2 68.6 46.4 46.9 53.0

Long-Term Debt 0.1 - - 2.7 -

Def. Tax Liability, Non-Curr. 85.6 95.8 103.8 109.1 113.6


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Other Non-Current Liabilities - - - - -

Total Liabilities 139.9 164.4 150.2 158.7 166.7

Common Stock 0.2 0.2 0.2 0.3 0.3Additional Paid In Capital 76.5 78.4 80.1 82.7 85.1

Retained Earnings 196.5 215.3 237.9 246.3 273.7

Treasury Stock - - - - -

Comprehensive Inc. and Other - - - - -

Total Common Equity 273.2 294.0 318.2 329.4 359.1

Minority Interest 1.7 1.9 2.2 2.6 -

Total Equity 274.9 295.9 320.4 331.9 359.1

Total Liabilities And Equity 414.8 460.3 470.6 490.6 525.8

Supplemental Items

Total Shares Out. on Filing Date 32.9 32.9 33.1 33.2 33.3

Total Shares Out. on Balance Sheet Date 32.8 32.9 33.0 33.2 33.3

Book Value/Share $8.32 $8.93 $9.65 $9.93 $10.78

Tangible Book Value 273.2 294.0 318.2 329.4 359.1

Tangible Book Value/Share $8.32 $8.93 $9.65 $9.93 $10.78

Total Debt 1.5 19.3 0 2.7 0

Net Debt (4.0) 13.9 (20.8) (0.7) (13.7)

Total Minority Interest 1.7 1.9 2.2 2.6 NA

Inventory Method NA NA NA NA NA

Raw Materials Inventory 2.2 2.8 3.3 3.1 3.1

Buildings 18.8 25.7 30.6 39.7 52.2

Machinery 472.4 489.9 493.4 511.5 527.7

Full Time Employees 2,666 2,678 2,787 2,946 3,045

Accum. Allowance for Doubtful Accts 0.2 0.2 0.5 0.3 0.5


Restatement Type NC NC NC RS OCalculation Type RUP RUP RUP REP REP

Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.


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Mar-31-2014

USD

19.3

-

19.3

70.3

2.2

72.5

- 13.4

3.5

-

108.7

596.0

(171.9)

424.1

3.5536.3

40.3

14.8

-

-

2.2

57.3

-

114.8


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-

172.1

0.385.7

278.2

-

-

364.2

-

364.2

536.3

33.4

33.3

$10.92

364.2

$10.92

0

(19.3)

NA

NA

NA

NA

NA

NA

0.4

May-09-2014

OREP


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Cash Flow

In Millions of the reported currency, except per share items. Template: Standard Restatement: Latest FilingsPeriod Type: Annual Order: Latest on Right



Cash Flow


Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

Reclassified

12 months

Dec-31-2012

12 months

Dec-31-2013


Net Income 16.3 19.7 24.3 27.3 30.1

Depreciation & Amort. 53.1 51.9 57.5 60.9 64.5

Depreciation & Amort., Total 53.1 51.9 57.5 60.9 64.5

Minority Int. in Earnings 0.6 0.6 0.8 0.5 0.1

(Gain) Loss From Sale Of Assets (1.6) (1.1) (3.8) (5.3) (6.0)

(Income) Loss on Equity Invest. - - - - (0.1)

Stock-Based Compensation 0.6 1.3 1.3 1.2 1.1

Tax Benefit from Stock Options 0.0 0.0 0.0 0.1 0.0

Other Operating Activities 5.6 10.6 10.1 4.8 4.3

Change in Acc. Receivable 7.7 (14.2) 1.2 (7.8) (6.5)

Change in Acc. Payable 3.5 0.3 (1.6) 1.0 2.4

Change in Other Net Operating Assets (4.0) (4.6) (3.7) 2.8 (0.8)

Cash from Ops. 81.7 64.5 86.2 85.5 89.2

Capital Expenditure (112.8) (121.3) (84.9) (135.4) (120.8)

Sale of Property, Plant, and Equipment 32.9 40.1 36.5 47.3 48.1

Cash Acquisitions - - - - -Divestitures - - - - (1.9)

Invest. in Marketable & Equity Securt. 2.5 - - - -

Net (Inc.) Dec. in Loans Originated/Sold - - - - -

Other Investing Activities 0.2 0 0.1 0 0

Cash from Investing (77.2) (81.2) (48.3) (88.1) (74.7)

Short Term Debt Issued - - - - -

Long-Term Debt Issued 1.1 160.4 37.6 21.5 82.7

Total Debt Issued 1.1 160.4 37.6 21.5 82.7

Short Term Debt Repaid (0.1) (0.6) (1.1) - -Long-Term Debt Repaid (2.5) (142.5) (57.0) (18.8) (85.4)

Total Debt Repaid (2.6) (143.2) (58.0) (18.8) (85.4)


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Issuance of Common Stock 0.3 0.3 0.1 1.0 1.1

Common Dividends Paid - (0.9) (1.8) (2.1) (2.8)Total Dividends Paid - (0.9) (1.8) (2.1) (2.8)

Special Dividend Paid - - - (16.6) -

Other Financing Activities (0.3) (0.1) (0.4) 0.2 0.1

Cash from Financing (1.5) 16.6 (22.4) (14.8) (4.3)

Net Change in Cash 3.0 (0.1) 15.5 (17.3) 10.2

Supplemental Items

Cash Interest Paid 0.2 0.2 0.0 0.0 0.1Cash Taxes Paid 4.9 13.8 (2.6) 8.8 16.2

Levered Free Cash Flow (35.1) (65.3) (3.1) (58.4) (22.0)

Unlevered Free Cash Flow (35.0) (65.3) (3.1) (58.4) (22.0)

Change in Net Working Capital (6.8) 18.5 1.6 10.6 (4.5)

Net Debt Issued (1.5) 17.2 (20.4) 2.7 (2.7)


Restatement Type NC NC NC RC O

Calculation Type REP REP REP REP REP


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LTM

12 months

Mar-31-2014

USD

28.2

65.2

65.2

0

(4.2)

(0.1)

1.10.1

3.8

(4.4)

5.0

0.1

94.7

(126.3)

43.4

- 0

-

-

(0.1)

(83.0)

-

-

80.0

--

(80.0)


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1.5

(3.1)(3.1)

-

0.2

(1.4)

10.3

0.114.8

(37.9)

(37.9)

5.3

0

May-09-2014

O

LTM


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Multiples

View: Data Frequency: QuarterlyOrder: Latest on Right Decimals: Capital IQ (Default)

Multiples Detail

For Quarter Ending Mar-28-2013 Jun-28-2013 Sep-30-2013 Dec-31-2013

TEV/LTM Total Revenue Average 0.70x 0.74x 0.88x 0.92x

High 0.74x 0.83x 0.95x 1.02x

Low 0.65x 0.63x 0.78x 0.83x

Close 0.70x 0.79x 0.88x 1.02x

TEV/NTM Total Revenues Average 0.66x 0.70x 0.84x 0.88x

High 0.69x 0.78x 0.90x 0.98x

Low 0.60x 0.60x 0.74x 0.79x

Close 0.65x 0.75x 0.84x 0.98x

TEV/LTM EBITDA Average 4.45x 4.61x 5.50x 5.51x

High 4.68x 5.13x 5.87x 6.09x

Low 4.07x 3.94x 4.86x 4.96x

Close 4.41x 4.88x 5.46x 6.09x

TEV/NTM EBITDA Average 3.93x 4.09x 4.78x 4.92x

High 4.07x 4.58x 5.09x 5.43x

Low 3.71x 3.54x 4.34x 4.47x

Close 3.85x 4.36x 4.75x 5.43x

TEV/LTM EBIT Average 11.07x 11.34x 13.64x 13.26x

High 11.66x 12.59x 14.61x 14.54x

Low 10.11x 9.62x 11.93x 11.89x

Close 11.03x 11.99x 13.59x 14.54x

P/LTM EPS Average 16.48x 17.08x 19.76x 20.05x

High 17.32x 18.99x 21.04x 22.19x

Low 15.20x 14.59x 18.00x 18.17x

Close 16.37x 18.08x 19.55x 22.19x

P/NTM EPS Average 15.15x 15.70x 17.62x 17.87x

High 15.60x 17.47x 18.75x 19.67x

Low 14.64x 13.83x 16.53x 16.48x

Close 14.75x 16.60x 17.45x 19.67x


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P/LTM Normalized EPS Average 18.05x 18.72x 21.78x 21.20x

High 18.96x 20.82x 23.22x 23.28x

Low 16.67x 16.00x 19.74x 19.06x

Close 17.92x 19.83x 21.58x 23.28x

P/BV Average 1.35x 1.45x 1.68x 1.72x

High 1.43x 1.62x 1.78x 1.91x

Low 1.22x 1.25x 1.54x 1.56x

Close 1.35x 1.55x 1.66x 1.91x

P/Tangible BV Average 1.35x 1.45x 1.68x 1.72x

High 1.43x 1.62x 1.78x 1.91x

Low 1.22x 1.25x 1.54x 1.56x

Close 1.35x 1.55x 1.66x 1.91x

TEV/LTM Unlevered FCF Average NM NM NM NM

High NM NM NM NM

Low NM NM NM NM

Close NM NM NM NM

Market Cap/LTM Levered FCF Average NM NM NM NM

High NM NM NM NM

Low NM NM NM NM

Close NM NM NM NM

Average multiples are calculated using positive close values on each trading day within the frequency periods selected. Negative values are excluded from the calculation. When the Multi

When a mismatch exists between the currency of the equity listing and the reported financial results such results are translated into the currency of the listing at the exchange rate applica

Historical Equity Pricing Data supplied by


23/52

Mar-31-2014 May-30-2014

0.99x 1.13x

1.07x 1.23x

0.90x 1.01x

1.07x 1.20x

0.94x 1.04x

1.02x 1.13x

0.85x 0.96x

1.01x 1.10x

5.91x 6.77x

6.41x 7.38x

5.39x 6.05x6.37x 7.19x

5.09x 5.58x

5.61x 6.01x

4.57x 5.22x

5.45x 5.86x

14.16x 16.67x

15.40x 18.33x

12.90x 14.51x15.30x 17.87x

22.08x 26.63x

24.08x 29.40x

20.27x 22.71x

23.91x 28.69x

18.74x 20.06x

20.79x 21.38x

16.95x 19.31x

20.09x 20.86x


24/52

23.00x 27.17x

25.04x 29.84x

21.08x 23.62x

24.87x 29.12x

1.85x 2.08x

2.01x 2.26x

1.69x 1.89x

2.00x 2.21x

1.85x 2.08x

2.01x 2.26x

1.69x 1.89x

2.00x 2.21x

NM NM

NM NM

NM NM

NM NM

NM NM

NM NM

NM NM

NM NM

les are not meaningful, due to negative values, then they will not be displayed in the chart.

ble on the financial period end date.


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Historical Capitalization

In Millions of the trading currency, except per share items. Frequency: Quarterly Order: Latest on RightCurrency: Trading Currency Conversion: Today's Spot Rate


Historical Capitalization

Balance Sheet as of:

Dec-31-2012 Mar-31-2013 Jun-30-2013 Sep-30-2013 Dec-31-2013

Pricing as of* Mar-14-2013 May-10-2013 Aug-09-2013 Nov-08-2013 Mar-12-2014


Capitalization DetailShare Price $14.2 $14.45 $17.65 $17.64 $20.66

Shares Out. 33.2 33.2 33.2 33.2 33.3

Market Capitalization 471.0 480.0 586.4 586.5 688.6

- Cash & Short Term Investments 3.5 9.0 0.6 1.1 13.7

+ Total Debt 2.7 0 7.4 0.8 0

+ Pref. Equity - - - - -

+ Total Minority Interest 2.6 - - - -

= Total Enterprise Value (TEV) 472.8 471.0 593.1 586.2 674.9

Book Value of Common Equity 329.4 336.2 344.1 351.6 359.1

+ Pref. Equity - - - - -

+ Total Minority Interest 2.6 - - - -

+ Total Debt 2.7 0 7.4 0.8 0

= Total Capital 334.6 336.2 351.5 352.4 359.1

* Pricing as of the filing date of the balance sheet period end date. For

TEV calculation purposes on this page Capital IQ only uses balance

sheet components from the original f iling that is publicly available as

of a given pricing date and does not use restated balance sheet data

from a later f iling. In the cases where a company did not disclose

balance sheet values for a particular period, TEV is calculated using

balance sheet components from the last reported balance sheet as of

this date. The table above is organized along period end dates.


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** For companies that have multiple share classes that publicly trade,

we are incorporating the different prices to calculate our company

level market capitalization. Please click on the value to see thedetailed calculation. Prices shown on this page are the close price of

the companys primary stock class. Shares shown on this page are

total company as-reported share values.

Historical Equity Pricing Data supplied by


27/52

Mar-31-2014

May-09-2014

USD

$22.62

33.4

754.5

19.3

0

-

-

735.2

364.2

-

-

0

364.2


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Capital Structure Summary

In Millions of the reported currency, except ratios and % of Totalvalues. Restatement: Latest Filings Period Type: Annual



Order: Latest on Right

Capital Structure Data


Currency USD USD USD Units Millions % of Total Millions % of Total Millions

Total Debt 2.7 0.8% 0 0.0% 0

Total Common Equity 329.4 98.4% 359.1 100.0% 364.2

Total Minority Interest 2.6 0.8% - - -

Total Capital 334.6 100.0% 359.1 100.0% 364.2

Currency USD USD USD

Exchange Rate 1.0 1.0 1.0Conversion Method S S S

Debt Summary Data



Units Millions % of Total Millions % of Total Millions

Total Revolving Credit 2.7 100.0% 0 - 0Total Principal Due 2.7 100.0% 0 - 0

Total Debt Outstanding 2.7 100.0% 0 100.0% 0

Available Credit

Undrawn Revolving Credit - - 41.7 - 41.7

Total Undrawn Credit - - 41.7 - 41.7

Additional Totals

Total Cash & ST Investments 3.5 - 13.7 - 19.3Net Debt (0.7) - (13.7) - (19.3)

Total Senior Debt 2.7 100.0% 0 - 0

12 months Dec-31-2012 12 months Dec-31-2013 3 months

12 months Dec-31-2012 12 months Dec-31-2013 3 months


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Long-Term Debt (Incl. Cap. Leases) 2.7 100.0% - - -

Total Bank Debt 2.7 100.0% 0 - 0

Total Unsecured Debt 2.7 100.0% 0 - 0

Variable Rate Debt 2.7 100.0% 0 - 0

Credit Ratios

Net Debt/EBITDA NM - NM - NM

Total Debt/EBITDA 0.0x - - - -

Total Senior Debt/EBITDA 0.0x - NM - NM

Net Debt/(EBITDA-CAPEX) NM - NM - NM

Total Debt/(EBITDA-CAPEX) NM - - - -

Total Senior Debt/(EBITDA-CAPEX) NM - NM - NM

Fixed Payment ScheduleLT Debt (Incl. Cap. Leases) Due +4 1.4 50.0% - - -

LT Debt (Incl. Cap. Leases) Due +5 1.4 50.0% - - -

LT Debt (Incl. Cap. Leases) Due, Next 5 Yrs 2.7 100.0% - - -

Operating Lease Commitment Due +1 0.5 - 0.5 - -





Operating Lease Commitment Due, Next 5 Yrs 0.9 - 1.1 - -

Contractual Obligations Due +1 1.7 - 4.2 - -

Contractual Obligations Due, Next 5 Yrs 1.7 - 4.2 - -

Total Contractual Obligations 1.7 - 4.2 - -

Interest Rate Data

W/Avg. Interest Rate - Long-term Debt 1.1% - - - -

Filing Date Mar-12-2014 - Mar-12-2014 - May-09-2014


Exchange Rate 1.0 1.0 1.0

Conversion Method S S S


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% of Total

0.0%

100.0%

-

100.0%

% of Total

-

-

100.0%

-

-

-

-

-

ar-31-2014

ar-31-2014


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-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Capital Structure Details

Principal Due in Millions of the

reported currency. Period Type: Annual

Source: A 2013 filed Mar-12-2014Currency: Reported Currency Conversion: Today's Spot Rate

Units: S&P Capital IQ (Default Decimals: Capital IQ (Default)

FY 2013 (Dec-31-2013) Capital Structure As Reported Details

Description Type Principal Due (USD)

Coupon/Base

Rate Floating Rate Maturity Seniority

Unsecured Committed Credit

Facility May 2016

Revolving Credit - 0.990% Various Benchmarks May-01-2016 Senior

FY 2012 (Dec-31-2012) Capital Structure As Reported Details

Description Type Principal Due (USD)Coupon/BaseRate Floating Rate Maturity Seniority

Unsecured Committed Credit

Facility May 2016

Revolving Credit 2.7 0.990% Various Benchmarks May-01-2016 Senior


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Secured Convertible

Repaymen

t Currency

No No USD

Secured Convertible

Repaymen

t Currency

No No USD


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Ratios

Restatement: Latest Filings Period Type: Annual

Order: Latest on Right Decimals: Capital IQ (Default)

Ratios


Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012

12 months

Dec-31-2013

Profitability

Return on Assets % 4.3% 4.9% 5.3% 5.3% 5.7%

Return on Capital % 6.5% 7.2% 7.7% 7.7% 8.3%Return on Equity % 6.3% 7.1% 8.1% 8.5% 8.7%

Return on Common Equity % 6.2% 7.0% 7.9% 8.4% 8.8%

Margin Analysis

Gross Margin % 23.4% 23.4% 22.4% 22.3% 23.6%

SG&A Margin % 3.9% 3.2% 3.0% 3.2% 3.6%

EBITDA Margin % 16.0% 16.7% 16.0% 15.9% 16.8%

EBITA Margin % 5.5% 6.6% 6.5% 6.4% 7.0%

EBIT Margin % 5.5% 6.6% 6.5% 6.4% 7.0%

Earnings from Cont. Ops Margin % 3.3% 3.9% 4.2% 4.3% 4.6%Net Income Margin % 3.2% 3.8% 4.0% 4.3% 4.6%

Net Income Avail. for Common Margin % 3.2% 3.8% 4.0% 4.3% 4.6%

Normalized Net Income Margin % 3.3% 4.0% 3.9% 3.9% 4.4%

Levered Free Cash Flow Margin % (6.9%) (12.6%) (0.5%) (9.2%) (3.3%)

Unlevered Free Cash Flow Margin % (6.9%) (12.6%) (0.5%) (9.2%) (3.3%)

Asset Turnover

Total Asset Turnover 1.2x 1.2x 1.3x 1.3x 1.3x

Fixed Asset Turnover 1.5x 1.4x 1.6x 1.7x 1.6x

Accounts Receivable Turnover 10.6x 10.7x 10.9x 10.2x 9.6x Inventory Turnover 173.9x 156.9x 152.0x 154.8x 162.5x

Short Term Liquidity

Current Ratio 1.3x 1.3x 2.2x 2.0x 2.0x

Quick Ratio 1.0x 1.0x 1.8x 1.6x 1.7x

Cash from Ops. to Curr. Liab. 1.5x 0.9x 1.9x 1.8x 1.7x

Avg. Days Sales Out. 34.5 34.1 33.4 36.0 38.0

Avg. Days Inventory Out. 2.1 2.3 2.4 2.4 2.2

Avg. Days Payable Out. 15.1 15.7 13.9 12.5 12.8

Avg. Cash Conversion Cycle 21.5 20.7 21.9 25.8 27.4


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Long Term Solvency

Total Debt/Equity 0.5% 6.5% NA 0.8% NA

Total Debt/Capital 0.5% 6.1% NA 0.8% NA

LT Debt/Equity 0.0% NA NA 0.8% NA

LT Debt/Capital 0.0% NA NA 0.8% NA

Total Liabilities/Total Assets 33.7% 35.7% 31.9% 32.3% 31.7%

EBIT / Interest Exp. NM NA NA NA NA

EBITDA / Interest Exp. NM NA NA NA NA

(EBITDA-CAPEX) / Interest Exp. NM NA NA NA NA

Total Debt/EBITDA 0.0x 0.2x NA 0.0x NA

Net Debt/EBITDA NM 0.2x NM NM NM

Total Debt/(EBITDA-CAPEX) NM NM NA NM NA

Net Debt/(EBITDA-CAPEX) NM NM NM NM NM

Altman Z Score 3.88 3.74 4.16 4.03 4.3

Growth Over Prior Year

Total Revenue (16.7%) 2.2% 16.8% 5.8% 3.3%

Gross Profit (4.1%) 2.2% 11.8% 5.4% 9.1%

EBITDA 1.3% 6.6% 12.4% 4.9% 8.9%

EBITA (7.7%) 23.3% 14.8% 3.4% 13.5%

EBIT (7.7%) 23.3% 14.8% 3.4% 13.5%

Earnings from Cont. Ops. (12.2%) 20.9% 23.2% 10.6% 8.9%Net Income (10.0%) 21.4% 23.0% 12.3% 10.6%

Normalized Net Income (1.9%) 24.0% 14.4% 4.8% 16.3%

Diluted EPS before Extra (9.8%) 21.6% 21.7% 12.3% 9.8%

Accounts Receivable (9.4%) 12.5% 16.2% 11.5% 7.0%

Inventory (0.6%) 27.2% 18.2% (8.2%) 2.2%

Net PP&E 8.6% 9.0% (1.0%) 7.1% 5.2%

Total Assets 4.4% 11.0% 2.2% 4.3% 7.2%

Tangible Book Value 6.8% 7.6% 8.2% 3.5% 9.0%Common Equity 6.8% 7.6% 8.2% 3.5% 9.0%

Cash from Ops. 6.0% (21.0%) 33.6% (0.8%) 4.3%

Capital Expenditures 64.5% 7.5% (30.0%) 59.4% (10.7%)

Levered Free Cash Flow NM NM NM NM NM

Unlevered Free Cash Flow NM NM NM NM NM

Dividend per Share NA NA 98.5% 18.9% 32.4%

Compound Annual Growth Rate Over Two Years

Total Revenue (5.0%) (7.7%) 9.2% 11.1% 4.5%

Gross Profit 1.5% (1.0%) 6.9% 8.6% 7.2%

EBITDA 6.4% 3.9% 9.4% 8.6% 6.9%

EBITA 6.6% 6.7% 18.9% 8.9% 8.3%


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EBIT 6.6% 6.7% 18.9% 8.9% 8.3%

Earnings from Cont. Ops. 3.4% 3.0% 22.0% 16.7% 9.8%

Net Income 4.2% 4.5% 22.2% 17.5% 11.4%

Normalized Net Income 15.7% 10.3% 19.1% 9.5% 10.4%

Diluted EPS before Extra 4.3% 4.8% 21.6% 16.9% 11.0%

Accounts Receivable (6.1%) 0.9% 14.3% 13.9% 9.2%

Inventory 0.8% 12.4% 22.6% 4.2% (3.1%)

Net PP&E 2.5% 8.8% 3.8% 3.0% 6.2%

Total Assets 0.9% 7.6% 6.5% 3.2% 5.7%

Tangible Book Value 7.4% 7.2% 7.9% 5.8% 6.2%

Common Equity 7.4% 7.2% 7.9% 5.8% 6.2%

Cash from Ops. 14.6% (8.5%) 2.7% 15.1% 1.7%

Capital Expenditures 20.5% 33.0% (13.2%) 5.6% 19.3%



Dividend per Share NA NA NA 53.6% 25.4%

Compound Annual Growth Rate Over Three Years

Total Revenue (0.8%) (2.6%) (0.2%) 8.1% 8.4%

Gross Profit (1.0%) 1.7% 3.1% 6.4% 8.7%

EBITDA 0.9% 6.4% 6.7% 7.9% 8.7%

EBITA (6.7%) 11.9% 9.3% 13.5% 10.4%EBIT (6.7%) 11.9% 9.3% 13.5% 10.4%

Earnings from Cont. Ops. (12.7%) 8.9% 9.3% 18.1% 14.1%

Net Income (12.8%) 9.7% 10.4% 18.8% 15.2%

Normalized Net Income (4.3%) 18.4% 11.6% 14.1% 11.7%

Diluted EPS before Extra (12.9%) 9.8% 10.1% 18.5% 14.5%

Accounts Receivable (1.8%) (0.3%) 5.8% 13.4% 11.5%

Inventory 1.7% 8.9% 14.3% 11.3% 3.5%

Net PP&E 1.2% 4.6% 5.4% 4.9% 3.7%

Total Assets 0.3% 4.2% 5.8% 5.8% 4.5%


Common Equity 7.3% 7.5% 7.6% 6.4% 6.9%

Cash from Ops. 2.0% 1.2% 3.8% 1.5% 11.4%

Capital Expenditures (3.8%) 16.0% 7.4% 6.3% (0.1%)



Dividend per Share NA NA NA NA 46.2%

Compound Annual Growth Rate Over Five Years

Total Revenue 5.9% 2.4% 3.1% 2.7% 1.7%

Gross Profit 3.6% 0.9% 2.1% 4.4% 4.7%


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EBITDA 5.5% 2.2% 4.3% 7.3% 6.7%

EBITA (1.0%) (2.6%) 2.8% 10.7% 8.9%

EBIT (1.0%) (2.6%) 2.8% 10.7% 8.9%

Earnings from Cont. Ops. (0.9%) (4.6%) (0.2%) 12.0% 9.5%

Net Income (1.5%) (4.7%) (0.2%) 12.7% 10.8%Normalized Net Income (1.2%) (2.2%) 4.5% 14.8% 11.1%

Diluted EPS before Extra (1.8%) (4.6%) (0.5%) 12.6% 10.5%

Accounts Receivable 3.1% 1.5% 4.3% 5.1% 7.2%

Inventory 9.5% 7.7% 9.6% 7.0% 7.0%

Net PP&E 9.6% 6.6% 2.2% 3.9% 5.7%

Total Assets 7.5% 5.6% 2.8% 3.8% 5.8%


Common Equity 10.2% 8.7% 7.6% 6.8% 7.0%

Cash from Ops. 9.9% (2.3%) 2.3% 6.6% 3.0%

Capital Expenditures 1.0% (0.0%) (7.7%) 11.7% 12.0%



Dividend per Share NA NA NA NA NA


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LTM

12 months

Mar-31-2014

5.3%

7.8%8.1%

8.1%

23.6%

3.7%

16.7%

6.7%

6.7%

4.3%4.3%

4.3%

4.2%

(5.8%)

(5.8%)

1.3x

1.6x

9.6x

NA

1.9x

1.6x

1.7x

38.0

NA

32.1NA


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NA

NA

NA

NA32.1%

NA

NA

NA

NA

NM

NA

NM

4.36

0.4%

5.6%

4.1%

2.8%

2.8%

(4.1%)(2.7%)

5.5%

(3.8%)

6.5%

NA

4.0%

5.5%

8.3%8.3%

7.9%

(1.7%)

NM

NM

37.0%

2.9%

5.3%

5.0%

4.2%


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4.2%

3.3%

4.9%

6.5%

4.2%

9.5%

NA

5.1%

4.5%

6.0%

6.0%

10.2%

9.7%

NM

NM

31.0%

7.3%

8.0%

8.0%

8.7%8.7%

11.0%

12.3%

10.4%

11.5%

7.9%

NA

5.2%

6.0%

6.9%

6.9%

8.6%

9.4%

NM

NM

31.7%

2.2%

3.5%


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5.5%

6.3%

6.3%

6.8%

7.7%7.8%

7.4%

8.7%

NA

6.1%

5.8%

7.0%

7.0%

1.1%

9.9%

NM

NM

NA


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Supplemental

In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual


Order: Latest on Right Units: S&P Capital IQ (Defau


Supplemental


Dec-31-2008

12 months

Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012


Options Outstanding

Options Out. at the Beginning of the Period - - - - -

Options Granted During the Period - - - - -

Options Exercised During the Period - - - - -

Options Cancelled During the Period - - - - -

Options Out. at the End of the Period - - - - -

W/Avg. Strike Price of Out. at the End of the Period - - - - -

W/Avg. Strike Price of Granted - - - - -

Options Outstanding - All Classes

Options Out. at the Beginning of the Period - - - - -

Options Granted During the Period - - - - -

Options Exercised During the Period - - - - -

Options Cancelled During the Period - - - - -

Options Out. at the End of the Period - - - - -

Stock Based Compensation

Stock Based Comp. Exp., Before Tax 0.7 0.6 1.3 1.3 1.2

Stock Based Comp. Exp., After Tax 0.4 0.4 0.8 0.8 0.8

Adoption of FIN 48 Related Items

Unrecognized Tax Benefits - Beginning of Period - - - - -

Increase in Unrecog. Tax Benefits - Current Yr. - - - - -

Unrecognized Tax Benefits - End of Period - - - - 0.3

Unrecog. Tax Benefit Impacting Effective Tax Rate - - - - -



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45/52

lt)

12 months

Dec-31-2013

USD

1.0

0.2

0.1

0.0

1.0

$14.07

$16.76

1.00.2

0.1

0.0

1.0

1.1

0.7

0.3

0.1

0.3

0.2

Mar-12-2014


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Pension/OPEB

In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual

Currency: Reported Currency Conversion: Today's Spot RateOrder: Latest on Right Units: S&P Capital IQ (Defau


Pension/OPEB


Dec-31-2008

12 months

Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012


Pension Information - Total

Defined Benefit Net Periodic CostDef. Contribution Plan Cost 1.0 1.0 0.6 0.8 0.9

Total Pension Expense 1.0 1.0 0.6 0.8 0.9

Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (3.4) - - - -

Consolidated Balance Sheet Amounts

Current Liabilities (3.4) - - - -

Pension Information - DomesticAdj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (3.4) - - - -

Consolidated Balance Sheet Amounts

Current Liabilities (3.4) - - - -


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lt)

12 months

Dec-31-2013

USD

1.4

1.4

-

-

-

-


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Marten Transport Ltd. (NasdaqGS:MRTN) > Financials > Segments

In Millions of the reported currency. View By: Line Items Restatement: Latest Filings

Period Type: Annual Order: Latest on RightCurrency: Reported Currency Conversion: Today's Spot Rate


Business Segments


Reclassified

12 months

Dec-31-2008

Reclassified

12 months

Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012


Revenues

Truckload 508.2 396.8 392.8 455.8 483.3

Logistics 98.9 109.1 124.2 147.8 155.1

Total Revenues 607.1 505.9 516.9 603.7 638.5

Operating Profit Before Tax

Truckload 26.1 22.8 28.7 35.3 36.8

Logistics 6.7 6.5 6.6 7.7 9.0

Total Operating Profit Before Tax 32.7 29.4 35.3 43.0 45.9

Depreciation & Amortization

Truckload - 50.2 49.0 - 56.7

Logistics - 2.9 2.9 - 4.2

Total Depreciation & Amortization - 53.1 51.9 - 60.9


Geographic Segments


Reclassified

12 months

Dec-31-2008

Reclassified

12 months

Dec-31-2009

12 months

Dec-31-2010

12 months

Dec-31-2011

12 months

Dec-31-2012


Revenues

United States 607.1 505.9 516.9 603.7 638.5

Total Revenues 607.1 505.9 516.9 603.7 638.5

Operating Profit Before Tax

United States - 29.4 35.3 43.0 45.9Total Operating Profit Before Tax - 29.4 35.3 43.0 45.9


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Interest Expense

United States - 0 - - -

Total Interest Expense - 0 - - -

Net Profit Before Tax

United States - 28.7 34.7 42.2 45.4

Total Net Profit Before Tax - 28.7 34.7 42.2 45.4

Tax Expense

United States - 12.5 14.9 18.0 18.1

Total Tax Expense - 12.5 14.9 18.0 18.1

Net Profit After Tax

United States - 16.3 19.7 24.3 27.3Total Net Profit After Tax - 16.3 19.7 24.3 27.3

Assets

United States - - 460.3 470.6 490.6

Total Assets - - 460.3 470.6 490.6

Depreciation & Amortization

United States - 53.1 51.9 57.5 60.9

Total Depreciation & Amortization - 53.1 51.9 57.5 60.9

Capital Expenditure

United States - (112.8) (121.3) (84.9) (135.4)

Total Capital Expenditure - (112.8) (121.3) (84.9) (135.4)



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12 months

Dec-31-2013

USD

507.3

151.9

659.2

44.9

7.1

52.0

59.3

5.2

64.5

Mar-12-2014

12 months

Dec-31-2013

USD

659.2

659.2

52.0

52.0


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-

-

52.3

52.3

22.2

22.2

30.130.1

525.8

525.8

64.5

64.5

(120.8)

(120.8)

Mar-12-2014

Marten Transport Ltd NasdaqGS MRTN Financials

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Transcript of Marten Transport Ltd NasdaqGS MRTN Financials