OLD DOMINION FREIGHT LINE, INC.
$174.54
+2.88 (+1.68%) · delayed · Nov 13, 2026
Five-year price
52w $126.01 to $252.03
- Market cap
- $36.0B
- Enterprise value
- $35.9B
- P/E
- 36.1×
- 32.8× on 3y avg EPS
- EV / EBIT
- 26.4×
- FCF yield
- 2.7%
- ROIC
- 24.2%
- Debt / equity
- 0.01
- Piotroski F
- 6/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ●ROIC > 12% (5y avg)5y avg ROIC 30.7%
- ●ROE > 15% (5y avg)5y avg ROE 29.3%
- ●Stable operating marginsMargin volatility 1.6% (σ, 5y)
- ○Earnings convert to cashFCF / net income 73% (5y avg)
- ●Growing revenueRevenue CAGR 5y 6.5%
- ○Shrinking share countDiluted shares 78.6% over 5y
Value
0
- ○P/E below 15P/E 36.1
- ○EV/EBIT below 12EV/EBIT 26.4
- ○FCF yield above 6%FCF yield 2.7%
- ○Price below Graham NumberGraham Number $47.73
- ○P/B below 3P/B 8.3
Safety
80
- ●Debt / equity below 0.5D/E 0.01
- ●Debt payable in < 4 yrs of earningsNet debt $-0.1B
- ●Interest coverage > 8xCoverage 304.9x
- ○Current ratio > 1.5Current ratio 1.44
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $5.5B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.44
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 13%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 32.8
- ○P/E × P/B ≤ 22.5Product 273.9
Valuation lab
What do you have to believe?
At $174.54, the market is pricing in about 14.0% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$80M · 206M shares · 5y revenue CAGR 6.5%
Intrinsic value
$95.57
Price
$174.54
Premium paid
83%
What the price implies
The market is paying for 14.0% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
58% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,992 | 3,358 | 4,044 | 4,109 | 4,015 | 5,256 | 6,260 | 5,866 | 5,815 | 5,496 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 484 | 576 | 817 | 819 | 907 | 1,392 | 1,841 | 1,641 | 1,544 | 1,361 |
| Operating margin | 16.2% | 17.1% | 20.2% | 19.9% | 22.6% | 26.5% | 29.4% | 28.0% | 26.6% | 24.8% |
| Pre-tax income | 478 | 576 | 816 | 824 | 901 | 1,388 | 1,841 | 1,648 | 1,558 | 1,361 |
| Income tax | 182 | 112 | 210 | 208 | 229 | 354 | 464 | 408 | 372 | 338 |
| Net income | 296 | 464 | 606 | 616 | 673 | 1,034 | 1,377 | 1,240 | 1,186 | 1,024 |
| EPS (diluted) | 3.56 | 5.63 | 4.92 | 5.10 | 5.68 | 8.89 | 6.09 | 5.63 | 5.48 | 4.84 |
| Diluted shares | 83 | 82 | 123 | 121 | 118 | 116 | 226 | 220 | 216 | 212 |
Who owns it
Superinvestors
Filings wire