Old Dominion Freight Line Inc (ODFL)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	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	615,518	630,953	640,296	629,658
Total stockholders’ equity	US$ in thousands	4,257,810	4,063,120	3,832,040	3,746,500	3,652,920	3,558,170	3,555,830	3,503,310	3,679,810	3,419,900	3,402,380	3,191,920	3,326,290	3,170,830	2,982,470	3,016,050	3,080,720	2,909,530	2,798,480	2,770,370
ROE		29.11%	30.53%	33.37%	36.37%	37.70%	37.44%	34.91%	32.39%	28.11%	27.64%	25.30%	23.15%	20.22%	19.77%	19.75%	20.40%	19.98%	21.69%	22.88%	22.73%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,239,502K ÷ $4,257,810K
= 29.11%

Old Dominion Freight Line, Inc.'s return on equity (ROE) has exhibited a declining trend over the past quarters. The ROE decreased from 37.70% in Q4 2022 to 29.11% in Q4 2023. This indicates a decrease in the company's ability to generate profits from shareholders' equity.

Although the ROE figures in Q1-Q3 2023 showed a slight improvement compared to Q4 2023, the overall trend is downward. The highest ROE was recorded in Q4 2022 at 37.70%, but it has been decreasing since then.

Old Dominion Freight Line, Inc. should focus on identifying the factors contributing to the declining ROE and implement strategies to improve shareholder value and profitability. Monitoring key financial metrics and conducting a detailed analysis of the business operations can help in addressing the decline in ROE and ensuring sustainable growth in the future.