Old Dominion Freight Line Inc (ODFL)

Financial leverage ratio

		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
Total assets	US$ in thousands	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	3,995,570	3,892,420	3,758,700	3,704,040
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
Financial leverage ratio		1.29	1.30	1.30	1.32	1.32	1.35	1.35	1.35	1.31	1.35	1.33	1.36	1.31	1.35	1.37	1.30	1.30	1.34	1.34	1.34

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,512,390K ÷ $4,257,810K
= 1.29

Old Dominion Freight Line, Inc.'s financial leverage ratio has ranged from 1.29 to 1.35 over the past several quarters. A financial leverage ratio above 1 indicates that the company relies more on debt financing than equity financing to support its assets.

The slight fluctuations in the financial leverage ratio suggest that the company's capital structure has remained relatively stable. However, the gradual increase from 1.29 in Q4 2023 to 1.35 in Q1 2022 may indicate a potential trend towards higher leverage.

It is essential for stakeholders to closely monitor the company's leverage ratio to ensure that the level of debt is sustainable and does not pose undue financial risk, especially in times of economic uncertainty. Further analysis of the company's debt management and overall financial health would provide a more comprehensive understanding of Old Dominion Freight Line, Inc.'s financial leverage position.