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Forensic Analysis · Trucking & Courier · as of Nov 9, 2026

Marten Transport Ltd (MRTN)

A forensic read on Marten Transport Ltd built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
7.6
Distress distance
Clean
Earnings quality
1
Forensic signals
2.3%
ROE
-8.3%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Marten Transport Ltd earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 7.6, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

2.0%
FY2025
Return on invested capital. Return on invested capital is 2.0% in the latest fiscal year and slipping across FY2023–FY2025 from 8.2%. After-tax operating profit was $68M in FY2023 and $16M in FY2025, with operating income at 8.0% of revenue in FY2023, 3.4% in FY2024 and 2.6% in FY2025. The capital base behind it went from $827M in FY2023 to $836M in FY2025 (+1%), while the revenue it carried went from $1.1B to $884M.

Key fundamentals

Latest Revenue$883.7M
Revenue Growth YoY-8.3%
Revenue CAGR (2yr)-11.6%
Net Margin2.0%
Return on Equity2.3%

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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