Stock Analysis on Net
Stock Analysis on Net

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

This company has been moved to the archive! The financial data has not been updated since August 4, 2023.

Common-Size Balance Sheet: Assets 

Old Dominion Freight Line Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 3.85 9.59 9.19 10.10 5.37
Short-term investments 1.02 5.28 7.56 0.00 0.00
Customer receivables, less allowances 11.96 11.77 10.18 9.95 12.06
Income taxes receivable 0.26 0.40 0.00 0.00 0.00
Other receivables 0.28 0.26 0.22 0.26 1.15
Prepaid expenses and other current assets 1.92 1.40 1.31 1.38 1.35
Current assets 19.30% 28.70% 28.46% 21.69% 19.92%
Net property and equipment 76.20 66.69 66.69 74.30 77.71
Other assets 4.50 4.61 4.85 4.00 2.37
Non-current assets 80.70% 71.30% 71.54% 78.31% 80.08%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Cash and Cash Equivalents
There was an increase in cash and cash equivalents as a percentage of total assets from 5.37% in 2018 to 10.1% in 2019, followed by a slight decrease and stabilization around 9% in 2020 and 2021. However, a notable decline occurred in 2022, dropping to 3.85%.
Short-term Investments
Short-term investments started being reported in 2020 at 7.56% of total assets, then decreased in subsequent years to 5.28% in 2021 and further to 1.02% in 2022, indicating a diminishing allocation to short-term investments over time.
Customer Receivables, Less Allowances
This category showed a decline from 12.06% in 2018 to 9.95% in 2019, then a gradual increase over the next three years, reaching 11.96% in 2022. The pattern suggests an initial reduction followed by growth in receivables relative to total assets.
Income Taxes Receivable
Income taxes receivable appeared in 2021 at 0.4% and slightly declined to 0.26% in 2022, reflecting a minor portion of assets allocated here with a small downward trend.
Other Receivables
Other receivables showed a significant decrease from 1.15% in 2018 to around 0.22-0.28% in subsequent years, maintaining a relatively stable but low proportion of total assets after the initial drop.
Prepaid Expenses and Other Current Assets
This category remained relatively stable, fluctuating slightly between 1.31% and 1.92%, with a small increase noted in 2022.
Current Assets
Current assets as a percentage of total assets increased substantially from 19.92% in 2018 to a peak of 28.7% in 2021, before declining sharply to 19.3% in 2022. This indicates more liquid assets were held during the middle years, followed by a reduction in the most recent year.
Net Property and Equipment
Net property and equipment decreased from 77.71% in 2018 to 66.69% in both 2020 and 2021. A significant rebound occurred in 2022, increasing to 76.2%, suggesting investment or revaluation of fixed assets in the latest period.
Other Assets
Other assets showed a rising trend from 2.37% in 2018 to a peak of 4.85% in 2020, with a slight decline thereafter, stabilizing around 4.5% by 2022.
Non-current Assets
Non-current assets as a percentage of total assets mirrored trends in net property and other assets, decreasing from 80.08% in 2018 to a low near 71.3% in 2021, before increasing substantially to 80.7% in 2022, indicating a shift back toward long-term asset holdings in the most recent year.
Total Assets
Total assets are consistently 100% each year, serving as the base for the relative percentages reported for asset categories.