OLD DOMINION FREIGHT LINE, INC. ODFL
We are one of the largest North American less-than-truckload ("LTL") motor carriers. We provide regional, inter-regional and national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. Through strategic alliances, we also provide LTL services throughout North America. In addition to our core LTL services, we offer a range of value-added services including container drayage, truckload brokerage and supply chain consulting. More than 98% of our revenue has historically been derived from transporting LTL shipments for our customers, whose demand for our services is generally tied to industrial production and the overall health of the U.S. domestic economy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.50B | $5.81B | $5.87B | $6.26B | $5.26B | $4.02B | $4.11B | $4.04B | $3.36B | $2.99B |
| Total operating expenses | $4.14B | $4.27B | $4.23B | $4.42B | $3.86B | $3.11B | $3.29B | $3.23B | $2.78B | $2.51B |
| Operating income | $1.36B | $1.54B | $1.64B | $1.84B | $1.39B | $906.9M | $818.7M | $817.1M | $575.9M | $483.8M |
| Pre-tax income | $1.36B | $1.56B | $1.65B | $1.84B | $1.39B | $901.4M | $823.9M | $815.5M | $575.8M | $477.6M |
| Income tax | $337.6M | $371.5M | $408.3M | $464.2M | $354.0M | $228.7M | $208.4M | $209.8M | $112.1M | $181.8M |
| Net income | $1.02B | $1.19B | $1.24B | $1.38B | $1.03B | $672.7M | $615.5M | $605.7M | $463.8M | $295.8M |
| EPS, basic | 4.86 | 5.51 | 5.66 | 6.13 | 8.94 | 5.71 | 5.11 | 4.93 | 5.63 | 3.56 |
| EPS, diluted | 4.84 | 5.48 | 5.63 | 6.09 | 8.89 | 5.68 | 5.10 | 4.92 | 5.63 | 3.56 |
| Shares, diluted (wtd. avg.) | $211.6M | $216.5M | $220.2M | $226.2M | $116.4M | $118.5M | $120.6M | $123.0M | $82.4M | $83.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $120.1M | $108.7M | $433.8M | $186.3M | $462.6M | $401.4M | $403.6M | $190.3M | $127.5M | $10.2M |
| Short-term investments | $0 | $0 | $0 | $49.4M | $254.4M | $330.3M | — | — | — | — |
| Receivables | $471.9M | $501.6M | $578.9M | $578.6M | $567.5M | $444.7M | $397.6M | $427.6M | $394.2M | $320.1M |
| Total current assets | $694.8M | $720.7M | $1.14B | $933.7M | $1.38B | $1.24B | $866.8M | $706.2M | $584.7M | $382.6M |
| Property, plant and equipment | $4.50B | $4.51B | $4.10B | $3.69B | $3.22B | $2.91B | $2.97B | $2.75B | $2.40B | $2.24B |
| Goodwill | — | — | — | — | — | — | $19.5M | $19.5M | $19.5M | $19.5M |
| Total assets | $5.47B | $5.49B | $5.51B | $4.84B | $4.82B | $4.37B | $4.00B | $3.55B | $3.07B | $2.70B |
| Accounts payable | $62.7M | $91.8M | $112.8M | $106.3M | $82.5M | $68.5M | $70.3M | $78.5M | $73.7M | $89.2M |
| Short-term debt | $20.0M | $20.0M | $20.0M | $20.0M | — | — | — | — | — | — |
| Total current liabilities | $483.9M | $540.5M | $544.7M | $529.8M | $464.2M | $373.1M | $366.1M | $356.7M | $351.0M | $288.6M |
| Long-term debt | — | — | — | — | — | — | — | $45.0M | $95.0M | $105.0M |
| Total liabilities | $1.16B | $1.25B | $1.25B | $1.19B | $1.14B | $1.04B | $914.9M | $864.8M | $791.6M | $845.1M |
| Retained earnings | $4.06B | $4.00B | $4.00B | $3.40B | $3.49B | $3.09B | $2.85B | $2.53B | $2.13B | $1.71B |
| Total equity | $4.31B | $4.24B | $4.26B | $3.65B | $3.68B | $3.33B | $3.08B | $2.68B | $2.28B | $1.85B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.37B | $1.66B | $1.57B | $1.69B | $1.21B | $933.0M | $983.9M | $900.1M | $536.3M | $565.6M |
| Depreciation and amortisation | $364.7M | $344.5M | $324.0M | $275.6M | $259.5M | $261.3M | $253.7M | $230.4M | $205.6M | $189.6M |
| Stock-based compensation | $12.9M | $11.3M | $11.1M | $15.9M | $15.0M | $11.3M | $16.7M | $4.9M | $3.2M | $1.4M |
| Capital expenditure | $415.0M | $771.3M | $757.3M | $775.1M | $550.1M | $225.1M | $479.3M | $588.3M | $382.1M | $417.9M |
| Investing cash flow | -$366.4M | -$751.2M | -$659.8M | -$547.5M | -$455.3M | -$551.7M | -$473.6M | -$580.4M | -$367.7M | -$407.4M |
| Financing cash flow | -$992.3M | -$1.23B | -$661.8M | -$1.42B | -$696.2M | -$383.5M | -$297.0M | -$256.9M | -$51.3M | -$159.5M |
| Dividends paid | $235.6M | $223.6M | $175.1M | $134.5M | $92.4M | $71.0M | $54.6M | $42.6M | $32.9M | — |
| Buybacks | $730.3M | $967.3M | $453.6M | $1.28B | $536.5M | $364.1M | $241.0M | $163.3M | $8.0M | $130.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000878927-26-000006.
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