Old Dominion Freight Line Inc (ODFL)

Total asset turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	4,108,645	4,126,375	4,136,145	4,108,975
Total assets	US$ in thousands	5,512,390	5,298,870	4,978,930	4,957,090	4,838,610	4,811,390	4,793,870	4,722,650	4,821,540	4,613,120	4,534,450	4,351,860	4,369,410	4,273,690	4,080,030	3,934,990	3,995,570	3,892,420	3,758,700	3,704,040
Total asset turnover		1.07	1.11	1.20	1.25	1.29	1.28	1.25	1.19	1.09	1.07	1.01	0.95	0.92	0.92	0.97	1.04	1.03	1.06	1.10	1.11

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,885,610K ÷ $5,512,390K
= 1.07

Old Dominion Freight Line, Inc. has shown fluctuations in its total asset turnover ratio over the past eight quarters. The ratio has ranged from a low of 1.06 in Q4 2023 to a high of 1.29 in Q4 2022. Overall, the company has maintained relatively healthy levels of total asset turnover, indicating its ability to generate sales revenue from its assets efficiently. The declining trend in the most recent quarters may suggest potential challenges in effectively utilizing its assets to drive revenue. Further analysis of the company's operational and financial performance is recommended to determine the underlying factors contributing to these fluctuations in total asset turnover.