Old Dominion Freight Line Inc (ODFL)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	4,244,590	4,175,740	4,111,900	4,401,640	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
Debt-to-equity ratio		0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.05	0.05	0.02

December 31, 2024 calculation

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

Old Dominion Freight Line Inc's debt-to-equity ratio has shown a consistent downward trend over the past few years. The ratio decreased from 0.02 as of March 31, 2020, to 0.01 as of December 31, 2024, indicating a relatively low level of debt compared to equity in the company's capital structure. This downward trend suggests that the company has been decreasing its reliance on debt financing and improving its financial stability. A low debt-to-equity ratio generally indicates that the company has a strong financial position and is less risky for investors and creditors. Overall, Old Dominion Freight Line Inc's decreasing debt-to-equity ratio signifies a prudent approach towards managing its capital structure and financial obligations.