Return on Equity (ROE)
since 2005
Calculation
Old Dominion Freight Line Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income1 | ÷ | Shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 37.70% | = | 100 | × | 1,377,159) | ÷ | 3,652,917) |
| Dec 31, 2021 | 28.11% | = | 100 | × | 1,034,375) | ÷ | 3,679,807) |
| Dec 31, 2020 | 20.22% | = | 100 | × | 672,682) | ÷ | 3,326,288) |
| Dec 31, 2019 | 19.98% | = | 100 | × | 615,518) | ÷ | 3,080,717) |
| Dec 31, 2018 | 22.60% | = | 100 | × | 605,668) | ÷ | 2,680,483) |
| Dec 31, 2017 | 20.37% | = | 100 | × | 463,774) | ÷ | 2,276,854) |
| Dec 31, 2016 | 15.98% | = | 100 | × | 295,765) | ÷ | 1,851,158) |
| Dec 31, 2015 | 18.09% | = | 100 | × | 304,690) | ÷ | 1,684,637) |
| Dec 31, 2014 | 17.91% | = | 100 | × | 267,514) | ÷ | 1,494,064) |
| Dec 31, 2013 | 16.73% | = | 100 | × | 206,113) | ÷ | 1,232,082) |
| Dec 31, 2012 | 16.52% | = | 100 | × | 169,452) | ÷ | 1,025,969) |
| Dec 31, 2011 | 16.28% | = | 100 | × | 139,470) | ÷ | 856,519) |
| Dec 31, 2010 | 11.31% | = | 100 | × | 75,651) | ÷ | 668,649) |
| Dec 31, 2009 | 5.88% | = | 100 | × | 34,871) | ÷ | 593,000) |
| Dec 31, 2008 | 12.30% | = | 100 | × | 68,677) | ÷ | 558,129) |
| Dec 31, 2007 | 14.68% | = | 100 | × | 71,832) | ÷ | 489,452) |
| Dec 31, 2006 | 17.38% | = | 100 | × | 72,569) | ÷ | 417,620) |
| Dec 31, 2005 | 15.50% | = | 100 | × | 53,475) | ÷ | 345,051) |
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
The financial data reveals that net income experienced a general upward trajectory over the period, despite some fluctuations. Initially, net income showed moderate growth from 53,475 thousand US dollars at the end of 2005 to around 71,832 thousand by the end of 2007. A notable decline occurred in 2009, with net income dropping to 34,871 thousand, likely reflecting broader economic challenges during that time. However, from 2010 onwards, net income steadily increased, reaching significant highs in the later years, culminating at 1,377,159 thousand US dollars by the end of 2022.
Shareholders’ equity also displayed a consistent growth trend throughout the entire period. Starting from 345,051 thousand US dollars in 2005, it gradually rose to just over 3.65 billion by the end of 2022. The progression indicates steady capitalization and retention of earnings, supporting the company’s financial solidity and capacity for growth. There was consistent growth year over year, with no notable reversals or declines.
The return on equity (ROE) percentage exhibits oscillations initially but generally trends upward over the years. It started at 15.5% in 2005, dipped to a low of 5.88% in 2009, which aligns with the decline in net income, but then recovered steadily. From 2010 forward, ROE enhanced significantly, reaching above 20% by 2013 and peaking at 37.7% by the end of 2022. This suggests improved profitability and efficient use of equity in generating earnings, particularly in the later years.
- Net Income
- Overall steady increase with substantial growth in the last decade, interrupted by a notable dip during the 2008-2009 period.
- Marked recovery and strong gains post-2009, reflecting resilience and improved earnings capacity.
- Shareholders’ Equity
- Consistent and strong upward trend without any decline, indicating ongoing equity growth and reinvestment.
- Increased more than tenfold over the examined period, supporting sustained financial stability.
- Return on Equity (ROE)
- Fluctuated early in the period with a decline in 2009 but recovered to higher levels thereafter.
- Significant improvement in profitability ratios in recent years, peaking at 37.7% in 2022.
In summary, the data illustrates a company that overcame a downturn around 2009 to achieve strong and sustainable growth in net income and shareholders’ equity. The rising ROE indicates an increasingly efficient use of capital, contributing to enhanced shareholder value over the long term.
Comparison to Competitors
Old Dominion Freight Line Inc., ROE, long-term trends, comparison to competitors
| Old Dominion Freight Line Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 37.70% | 15.34% | -124.54% | 57.54% | 10.69% | 58.36% |
| Dec 31, 2021 | 28.11% | 21.64% | -3.43% | 46.06% | -39.05% | 90.44% |
| Dec 31, 2020 | 20.22% | 7.03% | -55.18% | 31.54% | -118.61% | 204.41% |
| Dec 31, 2019 | 19.98% | 3.04% | -59.94% | 32.65% | 26.09% | 135.90% |
| Dec 31, 2018 | 22.60% | 23.55% | — | 29.21% | 21.30% | 158.59% |
| Dec 31, 2017 | 20.37% | 18.65% | — | 43.10% | 24.20% | 491.00% |
| Dec 31, 2016 | 15.98% | 13.20% | — | 21.24% | 26.13% | 847.16% |
| Dec 31, 2015 | 18.09% | 7.00% | — | 23.05% | 81.86% | 196.11% |
| Dec 31, 2014 | 17.91% | 13.73% | — | 24.45% | 47.25% | 141.62% |
| Dec 31, 2013 | 16.73% | 8.97% | — | 20.67% | 19.14% | 67.53% |
| Dec 31, 2012 | 16.52% | 13.80% | — | 19.84% | -150.31% | 17.34% |
| Dec 31, 2011 | 16.28% | 9.54% | — | 17.72% | 46.51% | 54.07% |
| Dec 31, 2010 | 11.31% | 8.57% | — | 15.65% | 14.65% | 43.71% |
| Dec 31, 2009 | 5.88% | 0.72% | — | 11.20% | — | 28.20% |
| Dec 31, 2008 | 12.30% | 7.74% | — | 15.14% | — | 44.29% |
| Dec 31, 2007 | 14.68% | 15.93% | — | 11.90% | 16.67% | 3.14% |
| Dec 31, 2006 | 17.38% | 15.69% | — | 10.49% | 1,064.99% | 27.14% |
| Dec 31, 2005 | 15.50% | 15.11% | — | 7.49% | — | 22.92% |
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., ROE, long-term trends, comparison to sector (transportation)
| Old Dominion Freight Line Inc. | Transportation | |
|---|---|---|
| Dec 31, 2022 | 37.70% | 19.64% |
| Dec 31, 2021 | 28.11% | 30.78% |
| Dec 31, 2020 | 20.22% | -10.82% |
| Dec 31, 2019 | 19.98% | 8.33% |
| Dec 31, 2018 | 22.60% | 33.03% |
| Dec 31, 2017 | 20.37% | 40.90% |
| Dec 31, 2016 | 15.98% | 27.46% |
| Dec 31, 2015 | 18.09% | 38.20% |
| Dec 31, 2014 | 17.91% | 27.90% |
| Dec 31, 2013 | 16.73% | 22.65% |
| Dec 31, 2012 | 16.52% | 15.25% |
| Dec 31, 2011 | 16.28% | 22.02% |
| Dec 31, 2010 | 11.31% | 18.67% |
| Dec 31, 2009 | 5.88% | 9.88% |
| Dec 31, 2008 | 12.30% | 3.26% |
| Dec 31, 2007 | 14.68% | 10.87% |
| Dec 31, 2006 | 17.38% | 68.59% |
| Dec 31, 2005 | 15.50% | -101.45% |
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., ROE, long-term trends, comparison to industry (industrials)
| Old Dominion Freight Line Inc. | Industrials | |
|---|---|---|
| Dec 31, 2022 | 37.70% | 15.38% |
| Dec 31, 2021 | 28.11% | 15.38% |
| Dec 31, 2020 | 20.22% | 0.24% |
| Dec 31, 2019 | 19.98% | 14.56% |
| Dec 31, 2018 | 22.60% | 17.95% |
| Dec 31, 2017 | 20.37% | 18.24% |
| Dec 31, 2016 | 15.98% | 21.69% |
| Dec 31, 2015 | 18.09% | 16.11% |
| Dec 31, 2014 | 17.91% | 19.68% |
| Dec 31, 2013 | 16.73% | 16.40% |
| Dec 31, 2012 | 16.52% | 17.20% |
| Dec 31, 2011 | 16.28% | 20.10% |
| Dec 31, 2010 | 11.31% | 16.41% |
| Dec 31, 2009 | 5.88% | 12.84% |
| Dec 31, 2008 | 12.30% | 20.74% |
| Dec 31, 2007 | 14.68% | 20.36% |
| Dec 31, 2006 | 17.38% | 32.16% |
| Dec 31, 2005 | 15.50% | 7.80% |
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).