Old Dominion Freight Line Inc (ODFL)

Financial leverage 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
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
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
Financial leverage ratio		1.29	1.30	1.30	1.28	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

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,491,400K ÷ $4,244,590K
= 1.29

The financial leverage ratio of Old Dominion Freight Line Inc has shown fluctuations over the past few years. The ratio was relatively stable around 1.30-1.35 from March 2020 to September 2021, indicating that the company had a moderate level of financial leverage during this period. However, there was a slight decrease to 1.31 by December 2021, which suggests a slightly lower reliance on debt to finance its operations.

Subsequently, the ratio fluctuated between 1.31 and 1.35 from March 2022 to September 2024, indicating that the company's financial leverage remained relatively stable during this period. The slight decrease in the ratio to 1.29-1.30 by December 2024 may suggest a potential decrease in the company's debt levels or an increase in equity, resulting in a lower reliance on debt financing.

Overall, the financial leverage ratio of Old Dominion Freight Line Inc has displayed some variability but generally remains within a moderate range, reflecting a balanced approach to capital structure management.