Old Dominion Freight Line Inc (ODFL)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	56,500	75,400	92,600	104,500	105,400
Total stockholders’ equity	US$ in thousands	4,244,590	4,257,810	3,652,920	3,679,810	3,326,290
Debt-to-capital ratio		0.01	0.02	0.02	0.03	0.03

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $56,500K ÷ ($56,500K + $4,244,590K)
= 0.01

The debt-to-capital ratio for Old Dominion Freight Line Inc has shown a consistent downward trend over the past five years, declining from 0.03 in December 2020 to 0.01 in December 2024. This indicates that the company has been effectively managing its debt relative to its total capital. A lower debt-to-capital ratio suggests that the company relies less on debt financing and has a stronger capital structure. Overall, the decreasing trend in the debt-to-capital ratio reflects positively on the company's financial health and stability.