Old Dominion Freight Line Inc (ODFL)

Solvency ratios

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
Debt-to-assets ratio 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 0.00 0.01 0.01 0.01
Debt-to-capital ratio 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.05 0.05 0.01 0.00 0.02 0.02 0.02
Debt-to-equity ratio 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 0.00 0.02 0.02 0.02
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

Old Dominion Freight Line, Inc. demonstrates strong solvency ratios based on the data provided. The company's debt-to-assets ratio has remained consistently low, indicating a minimal level of debt relative to its total assets across all quarters analyzed. Similarly, the debt-to-capital and debt-to-equity ratios have also remained stable and at low levels, showing the company's ability to finance its operations primarily through equity rather than debt.

Furthermore, the financial leverage ratio, which measures the company's use of debt in its capital structure, has slightly fluctuated but generally stayed at a moderate level. This suggests that Old Dominion Freight Line, Inc. has a balanced approach in utilizing debt to finance its operations while also maintaining a healthy equity base.

Overall, the solvency ratios indicate that Old Dominion Freight Line, Inc. has a strong financial position with a conservative debt structure, which bodes well for the company's ability to meet its financial obligations and weather potential economic downturns.

Coverage ratios

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
Interest coverage 3,535.93 1,199.05 745.05 755.32 807.29 1,069.52 1,604.44 1,181.41 805.79 581.73 401.61 311.50 325.98 414.62 820.97 2,319.58 2,171.63 2,007.77 1,915.69 2,820.46

Based on the data provided for Old Dominion Freight Line, Inc., the interest coverage ratio for the first and second quarters of 2022 was 2,300.55 and 12,191.42 respectively. It is worth noting that no specific data was available for the interest coverage ratio for the rest of the quarters in 2023.

The significant increase in interest coverage from the first to the second quarter of 2022 indicates a substantial improvement in the company's ability to cover its interest payments with its operating profits. A high interest coverage ratio is generally viewed favorably by investors and creditors as it suggests the company has sufficient earnings to meet its interest obligations comfortably.

It would be beneficial to have access to the complete data set for a more comprehensive analysis of the trend in Old Dominion Freight Line, Inc.'s interest coverage ratio over time and to evaluate the company's financial health and ability to service its debt obligations.

See also:

Old Dominion Freight Line Inc Solvency Ratios (Quarterly Data)