Old Dominion Freight Line Inc (ODFL)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 5,512,390 | 4,838,610 | 4,821,540 | 4,369,410 | 3,995,570 |
| Operating ROA | 29.76% | 38.04% | 28.86% | 20.76% | 20.49% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $1,640,670K ÷ $5,512,390K
= 29.76%
Old Dominion Freight Line, Inc.'s operating return on assets (ROA) has shown a fluctuating trend over the past five years. The operating ROA was 29.76% as of December 31, 2023, a decrease from the previous year but still at a relatively high level. In 2022, the operating ROA was 38.04%, indicating a strong performance in efficiently generating operating income from its assets.
The operating ROA for 2021 was 28.86%, showing a slight improvement compared to the previous year. In 2020 and 2019, the operating ROA was 20.76% and 20.49%, respectively, reflecting a steady performance in utilizing assets to generate operating profit.
Overall, Old Dominion Freight Line, Inc.'s operating ROA has demonstrated a generally positive performance over the past five years, with some fluctuations. The company has been effective in managing its assets to generate operating income, with the highest operating ROA observed in 2022. This indicates efficient asset utilization and effective operational management, contributing to the company's profitability.
Peer comparison
Dec 31, 2023