Old Dominion Freight Line Inc (ODFL)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.01 | 0.01 | 0.01 | 0.01 | 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 |
| Debt-to-capital ratio | 0.01 | 0.01 | 0.01 | 0.02 | 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 |
| 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 |
| 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 |
Old Dominion Freight Line Inc's solvency ratios indicate a strong financial position with consistently low levels of debt relative to its assets, capital, and equity. The Debt-to-assets ratio has remained stable at around 0.01 to 0.04 over the past few years, suggesting that the company has very little debt in relation to its total assets.
Similarly, the Debt-to-capital ratio and Debt-to-equity ratio have also been consistently low, ranging from 0.01 to 0.05. This indicates that the company relies minimally on debt to finance its operations, with a significant portion of its capital and equity coming from sources other than debt.
The Financial leverage ratio has been relatively stable around 1.30 to 1.37, showing that the company has maintained a conservative level of leverage in its capital structure. This implies that Old Dominion Freight Line Inc has a strong ability to meet its financial obligations and is not overly reliant on borrowed funds.
Overall, based on these solvency ratios, Old Dominion Freight Line Inc appears to have a sound financial footing, with a low debt burden and a healthy mix of capital sources to support its operations and growth.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 7,283.01 | 5,996.28 | 4,880.90 | 5,461.96 | 3,535.93 | 2,503.63 | 1,086.18 | 1,075.78 | 1,177.63 | 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 |
Old Dominion Freight Line Inc's interest coverage ratio has shown variations over the past few years. The interest coverage ratio measures the company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio indicates the company is more capable of servicing its debt.
The interest coverage ratio for Old Dominion Freight Line Inc started at a very high level of 2,319.58 in March 2020, indicating a strong ability to cover interest expenses. However, the ratio decreased to 325.98 by December 2020 before gradually improving over the following quarters.
By the end of December 2024, the interest coverage ratio reached the highest point in the data set at 7,283.01. This significant increase suggests that the company's operating income became more than sufficient to cover its interest expenses, reflecting improved financial health and reduced financial risk.
Overall, the trend indicates that Old Dominion Freight Line Inc has managed to strengthen its ability to cover interest expenses, which is a positive sign for investors and creditors.
See also:
Old Dominion Freight Line Inc Solvency Ratios (Quarterly Data)