Old Dominion Freight Line Inc (ODFL)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	56,500	57,300	56,000	74,500	75,400	72,300	74,000	94,200	92,600	89,600	94,700	98,100	104,500	104,800	104,000	104,700	105,400	151,100	150,400	45,500
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
Debt-to-assets ratio		0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.04	0.04	0.01

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $56,500K ÷ $5,491,400K
= 0.01

The debt-to-assets ratio of Old Dominion Freight Line Inc has shown consistency over the past few years, ranging from 0.01 to 0.04. This ratio indicates the percentage of the company's assets that are financed by debt. A lower ratio suggests that a company has a lower level of debt relative to its total assets, which can be viewed positively as it signifies lower financial risk. In the case of Old Dominion Freight Line Inc, the consistently low debt-to-assets ratio indicates that the company has minimal reliance on debt to fund its operations and investments, demonstrating a strong financial position and stability. Furthermore, the stable nature of this ratio over time suggests that the company has been managing its debt and assets prudently, which can be seen as a positive sign for investors and stakeholders.