Old Dominion Freight Line Inc (ODFL)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		29.16	31.03	36.49	37.30	37.88
Number of days of payables	days	12.52	11.76	10.00	9.79	9.64

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 29.16
= 12.52

To analyze Old Dominion Freight Line, Inc.'s number of days of payables, we would need specific data for each year to calculate this ratio accurately. The number of days of payables ratio is calculated as (Accounts Payable / Cost of Goods Sold) x 365, where a higher number of days indicates the company takes longer to pay its suppliers. This metric provides insight into how efficiently the company manages its payables.

Without the specific data for the years given, it is not possible to provide a detailed analysis of Old Dominion Freight Line, Inc.'s number of days of payables. This ratio is essential for understanding the company's payment practices and liquidity position. Further information would be required to assess trends over time and compare them to industry benchmarks for a more comprehensive analysis.