Old Dominion Freight Line Inc (ODFL)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	5,815,630	5,938,920	5,983,990	5,898,480	5,885,610	5,867,450	5,955,860	6,210,120	6,262,120	6,180,360	5,976,720	5,628,680	5,256,110	4,918,280	4,576,400	4,153,200	4,014,576	3,950,876	3,941,166	4,105,626
Property, plant and equipment	US$ in thousands	4,505,430	4,425,750	4,277,820	4,128,100	4,095,400	4,085,410	4,001,100	3,841,460	3,687,070	3,491,510	3,378,730	3,225,310	3,215,690	3,110,110	2,998,730	2,907,670	2,914,030	2,935,480	2,955,080	2,953,990
Fixed asset turnover		1.29	1.34	1.40	1.43	1.44	1.44	1.49	1.62	1.70	1.77	1.77	1.75	1.63	1.58	1.53	1.43	1.38	1.35	1.33	1.39

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,815,630K ÷ $4,505,430K
= 1.29

Old Dominion Freight Line Inc's fixed asset turnover ratio has shown a slight fluctuation over the period under consideration. The ratio measures how efficiently the company is utilizing its fixed assets to generate revenue.

The trend of the fixed asset turnover ratio for Old Dominion Freight Line Inc is generally increasing, indicating an improvement in the efficiency of utilizing fixed assets to generate revenue. From a value of 1.39 on March 31, 2020, the ratio gradually increased to 1.77 by June 30, 2022, before experiencing a slight decline to 1.29 by December 31, 2024.

The company's fixed asset turnover ratio peaked at 1.77 on June 30, 2022, suggesting that Old Dominion Freight Line Inc was generating $1.77 in revenue for every $1 of fixed assets invested in the business. However, the subsequent decrease in the ratio may indicate a potential slowdown in revenue generation from fixed asset investments.

Overall, while Old Dominion Freight Line Inc's fixed asset turnover ratio has demonstrated some variability, the general increasing trend suggests an improvement in the efficiency of utilizing fixed assets to generate revenue during the period analyzed.