Old Dominion Freight Line Inc (ODFL)

Operating profit margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Operating income US$ in thousands 1,640,670 1,840,630 1,391,600 906,882 818,706
Revenue US$ in thousands 5,888,710 6,263,500 5,256,890 4,014,390 4,103,040
Operating profit margin 27.86% 29.39% 26.47% 22.59% 19.95%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $1,640,670K ÷ $5,888,710K
= 27.86%

Old Dominion Freight Line, Inc.'s operating profit margin has shown a positive trend over the five-year period from 2019 to 2023. The company's operating profit margin has consistently increased from 19.92% in 2019 to 27.97% in 2023. This indicates that the company has been able to generate more operating profit for each dollar of sales over the years, reflecting improved operational efficiency and cost management.

The significant increase in operating profit margin from 2019 to 2023, reaching 27.97%, demonstrates Old Dominion Freight Line's ability to effectively control costs and enhance profitability. The firm's ability to sustain and improve its operating profit margin over this period suggests that it has successfully managed its operating expenses while increasing revenue.

The steady growth in operating profit margin indicates the company's strong operating performance and efficient utilization of resources. Investors and stakeholders may view this as a positive sign of the company's operational effectiveness and profitability, potentially boosting confidence in Old Dominion Freight Line's financial health and management strategies.


Peer comparison

Dec 31, 2023


See also:

Old Dominion Freight Line Inc Operating Profit Margin