Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Old Dominion Freight Line Inc., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.76 | 2.98 | 3.33 | 2.37 | 1.98 | |
| Quick ratio | 1.56 | 2.79 | 3.18 | 2.22 | 1.85 | |
| Cash ratio | 0.44 | 1.54 | 1.96 | 1.10 | 0.53 |
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Old Dominion Freight Line Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Old Dominion Freight Line Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Old Dominion Freight Line Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Current Ratio
Old Dominion Freight Line Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 933,740) | 1,383,787) | 1,243,339) | 866,834) | 706,229) | |
| Current liabilities | 529,793) | 464,234) | 373,130) | 366,085) | 356,732) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.76 | 2.98 | 3.33 | 2.37 | 1.98 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.43 | 1.51 | 1.58 | 1.45 | — | |
| Uber Technologies Inc. | 1.04 | 0.98 | 1.44 | — | — | |
| Union Pacific Corp. | 0.72 | 0.62 | 1.01 | — | — | |
| United Airlines Holdings Inc. | 1.00 | 1.19 | 1.16 | — | — | |
| United Parcel Service Inc. | 1.22 | 1.42 | 1.19 | — | — | |
| Current Ratio, Sector | ||||||
| Transportation | 1.14 | 1.24 | 1.28 | — | — | |
| Current Ratio, Industry | ||||||
| Industrials | 1.20 | 1.29 | 1.41 | — | — | |
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).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 933,740 ÷ 529,793 = 1.76
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Old Dominion Freight Line Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Quick Ratio
Old Dominion Freight Line Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 186,312) | 462,564) | 401,430) | 403,571) | 190,282) | |
| Short-term investments | 49,355) | 254,433) | 330,274) | —) | —) | |
| Customer receivables, less allowances | 578,648) | 567,474) | 444,653) | 397,579) | 427,569) | |
| Other receivables | 13,743) | 12,410) | 9,569) | 10,586) | 40,691) | |
| Total quick assets | 828,058) | 1,296,881) | 1,185,926) | 811,736) | 658,542) | |
| Current liabilities | 529,793) | 464,234) | 373,130) | 366,085) | 356,732) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.56 | 2.79 | 3.18 | 2.22 | 1.85 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| FedEx Corp. | 1.31 | 1.40 | 1.45 | 1.27 | — | |
| Uber Technologies Inc. | 0.88 | 0.82 | 1.19 | — | — | |
| Union Pacific Corp. | 0.52 | 0.47 | 0.79 | — | — | |
| United Airlines Holdings Inc. | 0.91 | 1.10 | 1.02 | — | — | |
| United Parcel Service Inc. | 1.11 | 1.32 | 1.00 | — | — | |
| Quick Ratio, Sector | ||||||
| Transportation | 1.02 | 1.13 | 1.10 | — | — | |
| Quick Ratio, Industry | ||||||
| Industrials | 0.72 | 0.80 | 0.88 | — | — | |
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).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 828,058 ÷ 529,793 = 1.56
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Old Dominion Freight Line Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Cash Ratio
Old Dominion Freight Line Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 186,312) | 462,564) | 401,430) | 403,571) | 190,282) | |
| Short-term investments | 49,355) | 254,433) | 330,274) | —) | —) | |
| Total cash assets | 235,667) | 716,997) | 731,704) | 403,571) | 190,282) | |
| Current liabilities | 529,793) | 464,234) | 373,130) | 366,085) | 356,732) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.44 | 1.54 | 1.96 | 1.10 | 0.53 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| FedEx Corp. | 0.48 | 0.52 | 0.47 | 0.26 | — | |
| Uber Technologies Inc. | 0.56 | 0.55 | 1.03 | — | — | |
| Union Pacific Corp. | 0.18 | 0.17 | 0.43 | — | — | |
| United Airlines Holdings Inc. | 0.82 | 1.01 | 0.92 | — | — | |
| United Parcel Service Inc. | 0.42 | 0.60 | 0.37 | — | — | |
| Cash Ratio, Sector | ||||||
| Transportation | 0.55 | 0.65 | 0.62 | — | — | |
| Cash Ratio, Industry | ||||||
| Industrials | 0.32 | 0.39 | 0.47 | — | — | |
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).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 235,667 ÷ 529,793 = 0.44
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Old Dominion Freight Line Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |