Old Dominion Freight Line Inc (ODFL)

Number of days of payables

		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
Payables turnover		36.70	34.06	29.84	33.93	29.16	27.96	33.43	27.39	31.03	27.42	23.90	26.79	36.49	21.29	30.13	29.17	37.30	43.51	50.47	48.23
Number of days of payables	days	9.95	10.72	12.23	10.76	12.52	13.05	10.92	13.32	11.76	13.31	15.27	13.62	10.00	17.15	12.12	12.51	9.79	8.39	7.23	7.57

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 36.70
= 9.95

The number of days of payables for Old Dominion Freight Line Inc has displayed some fluctuation over the period from March 31, 2020, to December 31, 2024. The company's payables turnover indicates the average number of days it takes for the company to pay its suppliers.

From March 31, 2020, to September 30, 2021, the number of days of payables remained relatively stable, ranging between 7.23 and 17.15 days. However, a notable rise was observed in payables days during the period from September 30, 2021, to March 31, 2022, peaking at 17.15 days. This increase suggests that Old Dominion Freight Line Inc was taking longer to pay its suppliers during this period.

Subsequently, from June 30, 2022, to December 31, 2024, the number of days of payables demonstrated some variability, fluctuating between 9.95 and 15.27 days. The decreasing trend in payables days from September 2021 to march 2024 could suggest improved efficiency in managing payables or changes in the company's payment policies.

Overall, monitoring the number of days of payables is crucial as it provides insights into a company's payment practices and relationships with its suppliers. A lower number may indicate a more favorable position for the company, while an increasing trend might signify potential liquidity challenges or changes in the company's working capital management strategies.