Old Dominion Freight Line Inc (ODFL)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	5,818,210	5,888,710	6,263,500	5,256,890	4,014,390
Property, plant and equipment	US$ in thousands	4,505,430	4,095,400	3,687,070	3,215,690	2,914,030
Fixed asset turnover		1.29	1.44	1.70	1.63	1.38

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,818,210K ÷ $4,505,430K
= 1.29

Old Dominion Freight Line Inc's fixed asset turnover has shown fluctuations over the years. The ratio increased from 1.38 in 2020 to 1.70 in 2022, indicating that the company generated more revenue per dollar of fixed assets invested. However, the ratio decreased to 1.29 in 2024, suggesting a decline in efficiency in utilizing fixed assets to generate sales. Overall, the trend of fixed asset turnover for Old Dominion Freight Line Inc has been mixed, with a peak in 2022 and a decrease in 2024.