Old Dominion Freight Line Inc (ODFL)

Total 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
Total assets	US$ in thousands	5,491,400	5,425,830	5,343,100	5,651,360	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
Total asset turnover		1.06	1.09	1.12	1.04	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

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,815,630K ÷ $5,491,400K
= 1.06

The total asset turnover ratio of Old Dominion Freight Line Inc has shown fluctuations over the past few years, ranging from 0.92 to 1.29. The ratio measures the efficiency of the company in generating revenue from its assets, with higher values indicating better asset utilization.

From the data provided, we can observe that the total asset turnover ratio increased gradually from March 31, 2022, to December 31, 2022, reaching its peak at 1.29. This suggests that the company was effectively utilizing its assets to generate revenue during this period.

However, in the following quarters, the total asset turnover ratio exhibited a slight decline, dipping to 1.04 by March 31, 2024. Despite this decrease, the ratio remained above 1, indicating that Old Dominion Freight Line Inc continued to generate revenue efficiently relative to its total assets.

Overall, the trend in the total asset turnover ratio of Old Dominion Freight Line Inc reflects fluctuations in asset utilization efficiency over the analyzed period, with some variability in performance but generally demonstrating effective management of assets to generate revenue.