Old Dominion Freight Line Inc (ODFL)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,239,500 | 1,377,160 | 1,034,380 | 672,682 | 615,518 |
| Revenue | US$ in thousands | 5,888,710 | 6,263,500 | 5,256,890 | 4,014,390 | 4,103,040 |
| Net profit margin | 21.05% | 21.99% | 19.68% | 16.76% | 15.00% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $1,239,500K ÷ $5,888,710K
= 21.05%
The net profit margin of Old Dominion Freight Line, Inc. has shown a positive trend over the past five years, indicating an improvement in profitability. The company's net profit margins have increased from 14.98% in 2019 to 21.13% in 2023, demonstrating a consistent growth in the percentage of revenue that translates into net income. This upward trajectory suggests that Old Dominion Freight Line has effectively managed its costs and operational efficiency to generate higher profits relative to revenue. The steady improvement in net profit margin reflects the company's ability to maintain a healthy bottom line and optimize its financial performance over the years.
Peer comparison
Dec 31, 2023