Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $4,015 | $5,256 | $6,260 | $5,866 | $5,815 |
| Gross Profit | $907 | $1,392 | $1,841 | $1,641 | $1,544 |
| Operating Income | $907 | $1,392 | $1,841 | $1,641 | $1,544 |
| Net Income | $673 | $1,034 | $1,377 | $1,240 | $1,186 |
Over the five-year period, OLD DOMINION FREIGHT LINE, INC. displayed robust growth from 2020 to 2022, followed by a contraction phase in 2023 and 2024. Revenue surged by approximately 31% from 2020’s USD 4.02 billion to 2021’s USD 5.26 billion and continued rising to about USD 6.26 billion in 2022. Correspondingly, gross profit and operating income increased from roughly USD 907 million in 2020 to USD 1.84 billion in 2022—a notable jump of over 100% in gross profit. Net income advanced from USD 673 million to USD 1.38 billion during the same period, indicating strong operational efficiency and a healthy margin expansion. This upward trend may be attributed to favorable market conditions, economies of scale, and possibly improved operational management typical of companies within the freight and logistics industry. However, the trends reversed in 2023, with revenue falling by roughly 6% to USD 5.87 billion and further dipping marginally to about USD 5.81 billion in 2024. The parallel decline in gross profit, operating income, and net income (which dropped to approximately USD 1.24 billion in 2023 and USD 1.19 billion in 2024) suggests a contraction in profitability. This year-over-year decline of over 20% from the 2022 peak, particularly in the profitability measures, may reflect challenges such as market saturation or increases in operational costs. Overall, while OLD DOMINION FREIGHT LINE, INC. demonstrated substantial growth and strong financial health in the early part of the period, the recent downturn calls for closer monitoring of revenue drivers and cost structures to ensure long-term sustainability in a competitive and dynamic industry environment.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.