Old Dominion Freight Line Inc (ODFL)
Return on assets (ROA)
| 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 |
| Total assets | US$ in thousands | 5,512,390 | 4,838,610 | 4,821,540 | 4,369,410 | 3,995,570 |
| ROA | 22.49% | 28.46% | 21.45% | 15.40% | 15.41% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,239,500K ÷ $5,512,390K
= 22.49%
Old Dominion Freight Line, Inc.'s return on assets (ROA) has exhibited fluctuations over the past five years. The ROA was 22.49% at the end of 2023, showing a decrease from the previous year's 28.46%. Despite this decline, the ROA still remains relatively strong compared to earlier years. In 2021, the ROA was 21.45%, indicating a slight improvement from the 15.40% reported in 2020. The ROA also saw stability in 2019 at 15.41%.
Overall, the company's ROA performance reflects varying levels of efficiency in generating profits from its assets over the years. The recent decrease in ROA could suggest potential challenges in asset utilization or profitability, which may warrant further investigation to identify underlying factors impacting the company's performance.
Peer comparison
Dec 31, 2023