Stock Analysis on Net
Stock Analysis on Net

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

$22.49

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

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

Old Dominion Freight Line Inc., ROA, long-term trends, calculation

Microsoft Excel
ROA = 100 × Net income1 ÷ Total assets1
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 31, 2014 = 100 × ÷
Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷
Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in thousands

Net Income Trends
Net income exhibited a general upward trajectory from 2005 through 2022. Starting at approximately 53.5 million USD in 2005, net income increased steadily with some fluctuations. Notably, there was a decline in 2009, dropping to around 34.9 million USD, likely influenced by external economic factors. Following this dip, a strong recovery occurred, with net income surpassing 1.3 billion USD in 2022. The period from 2016 onwards showed particularly accelerated growth, with net income more than doubling between 2016 and 2022.
Total Assets Evolution
Total assets consistently expanded over the period under review, growing from roughly 642 million USD in 2005 to nearly 4.8 billion USD by the end of 2022. This growth indicates ongoing asset accumulation and investment. The increase was relatively steady, with no significant contractions, suggesting sustained capital investment and asset base strengthening. The most substantial rises occurred after 2013, where assets expanded from approximately 2.2 billion USD to over 4.8 billion USD within nine years.
Return on Assets (ROA) Fluctuations
ROA demonstrated an overall improvement with some variability. Initial years showed ROA in the range of 6% to 8%, with a notable decline to nearly 3% in 2009, corresponding with the decrease in net income. After 2009, ROA rebounded steadily, reaching a peak of 28.46% in 2022. This sharp increase in recent years suggests enhanced operational efficiency or improved profitability relative to asset base. The upward trend post-2013 reflects a phase of increasing return efficiency despite ongoing asset growth.
Key Insights
There is a clear correlation between the recovery of net income and the growth in ROA beyond 2009, indicating that not only did profitability increase, but asset utilization efficiency also improved significantly. The continuous expansion of total assets coupled with rising net income and ROA implies effective asset management and scaling of business operations. The data highlights resilience during economic downturns and strong growth capacity in recent years.

Comparison to Competitors

Old Dominion Freight Line Inc., ROA, long-term trends, comparison to competitors

Microsoft Excel
Old Dominion Freight Line Inc. FedEx Corp. Uber Technologies Inc. Union Pacific Corp. United Airlines Holdings Inc. United Parcel Service Inc.
Dec 31, 2022
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Dec 31, 2005

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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Transportation)

Old Dominion Freight Line Inc., ROA, long-term trends, comparison to sector (transportation)

Microsoft Excel
Old Dominion Freight Line Inc. Transportation
Dec 31, 2022
Dec 31, 2021
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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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

Old Dominion Freight Line Inc., ROA, long-term trends, comparison to industry (industrials)

Microsoft Excel
Old Dominion Freight Line Inc. Industrials
Dec 31, 2022
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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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).