Old Dominion Freight Line Inc (ODFL)
Return on equity (ROE)
| 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 stockholders’ equity | US$ in thousands | 4,257,810 | 3,652,920 | 3,679,810 | 3,326,290 | 3,326,290 |
| ROE | 29.11% | 37.70% | 28.11% | 20.22% | 18.50% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $1,239,500K ÷ $4,257,810K
= 29.11%
Old Dominion Freight Line, Inc.'s return on equity (ROE) has been fluctuating over the past five years. In 2023, the ROE decreased to 29.11% from 37.70% in 2022, indicating a decline in profitability generated from shareholder equity. Despite the decrease, the company still maintained a relatively healthy ROE level above 20%.
The ROE in 2021 was 28.11%, which was slightly lower compared to 2022 but higher than the 20% mark, showing consistent profitability relative to shareholder equity. In 2020, the ROE saw a notable improvement to 20.22% from 19.98% in 2019, indicating a positive trend in generating returns for shareholders over the period.
Overall, Old Dominion Freight Line, Inc.'s ROE performance has shown some variability in recent years, but the company has generally maintained a strong return on equity, reflecting its ability to efficiently utilize equity to generate profits for shareholders.
Peer comparison
Dec 31, 2023