A voluminous research on efficiency employs the DEA(Data Envelope Analysis) models. There are, however, only very few that have an interest in the factors influencing such efficiencies. We, furthermore, do not see any studies which analyze the long-term efficiency of the logistics providers using the panel cointegration techniques. The purpose of this paper, hence, is to evaluate the efficiency, analyse its determinants and show a long-term relationship between turnover and the other variables employing the SBM(Slack Based Measure) model, Tobit model, the panel procedure and the FMOLS(Fully Modified OLS). The panel data are composed of 9 individuals and 6 years. The panel cointegrating vectors show that the group coefficient of asset and employees is not only significant but has expected signs, while some of the individual coefficients are insignificant or/and exhibit wrong signs. The panel cointegrating vectors from fully modified OLS also indicate that the estimated coefficients of the panel analysis tend to be overvalued and the asset influences the turnover far greater than the employee does.