Old Dominion Freight Line Inc (ODFL)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	1,186,073	1,245,744	1,276,451	1,246,768	1,239,502	1,240,616	1,278,730	1,362,446	1,377,159	1,332,036	1,241,269	1,134,767	1,034,375	945,401	860,635	738,864	672,682	626,874	589,105	615,372
Total assets	US$ in thousands	5,491,400	5,425,830	5,343,100	5,651,360	5,512,390	5,298,870	4,978,930	4,957,090	4,838,610	4,811,390	4,793,870	4,722,650	4,821,540	4,613,120	4,534,450	4,351,860	4,369,410	4,273,690	4,080,030	3,934,990
ROA		21.60%	22.96%	23.89%	22.06%	22.49%	23.41%	25.68%	27.48%	28.46%	27.69%	25.89%	24.03%	21.45%	20.49%	18.98%	16.98%	15.40%	14.67%	14.44%	15.64%

December 31, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $1,186,073K ÷ $5,491,400K
= 21.60%

Old Dominion Freight Line Inc's return on assets (ROA) has shown a positive trend over the past few years, starting at 15.64% as of March 31, 2020, and increasing to a peak of 28.46% by December 31, 2022. This upward trend indicates that the company has been utilizing its assets more efficiently to generate profits during this period.

However, after reaching the peak at the end of 2022, the ROA started to decline, dropping to 21.60% by December 31, 2024. This decrease suggests that the company may have faced challenges in maintaining or further improving asset productivity in the latter part of the period under review.

Overall, while Old Dominion Freight Line Inc's ROA demonstrated a strong performance with significant growth until 2022, the subsequent decline in ROA highlights the need for the company to focus on effectively managing its assets to sustain or improve its profitability levels in the future.