Old Dominion Freight Line Inc (ODFL)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,557,597	1,647,747	1,691,029	1,656,509	1,647,776	1,654,453	1,704,142	1,820,429	1,841,349	1,781,123	1,668,009	1,524,184	1,388,423	1,269,970	1,155,354	989,971	901,364	837,635	787,694	824,263
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
Pretax margin		26.78%	27.74%	28.26%	28.08%	28.00%	28.20%	28.61%	29.31%	29.40%	28.82%	27.91%	27.08%	26.42%	25.82%	25.25%	23.84%	22.45%	21.20%	19.99%	20.08%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,557,597K ÷ $5,815,630K
= 26.78%

The pretax margin of Old Dominion Freight Line Inc has shown a generally positive trend over the period from March 31, 2020, to December 31, 2024. The pretax margin increased steadily from 20.08% in March 2020 to a peak of 29.40% in December 2022. This indicates that the company was able to effectively manage its operating expenses and generate higher pre-tax profits relative to its total revenue during this period.

However, from March 2023 onwards, the pretax margin started to decrease, falling to 26.78% by December 31, 2024. This decline suggests that the company's profitability may have been impacted by factors such as rising costs or changes in revenue dynamics.

Overall, while Old Dominion Freight Line Inc exhibited a strong performance in terms of pretax margin in the earlier years of the period under review, there was a moderation in profitability in the latter part of the period. Further analysis would be needed to understand the specific factors driving these fluctuations in pretax margin.