Old Dominion Freight Line Inc (ODFL)

Pretax margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	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	823,949	851,706	862,516	848,414
Revenue (ttm)	US$ in thousands	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	4,108,645	4,126,375	4,136,145	4,108,975
Pretax margin		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%	20.05%	20.64%	20.85%	20.65%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,647,776K ÷ $5,885,610K
= 28.00%

Old Dominion Freight Line, Inc.'s pretax margin has shown relatively stable performance over the past eight quarters, ranging between 27.09% and 29.41%. The company's pretax margin peaked in Q4 2022 at 29.41% and has generally remained above 28% since then. This indicates that Old Dominion Freight Line has been effectively managing its operating expenses relative to its revenue, resulting in strong profitability before taxes. Overall, the consistent pretax margins suggest that the company has maintained operational efficiency and profitability in its freight transportation business. Further analysis could explore the factors contributing to the company's ability to sustain its pretax margin levels over time.