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Old Dominion (ODFL) stock

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NASDAQ: ODFL Nasdaq Cargo Ground Transportation Next results ~February 3, 2027

A Fundamentals grade

Old Dominion is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$85

Cash-flow model

Base case. Range ~$64–$110 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 52% below it.

Price used: $176.23, November 2, 2026

Old Dominion valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds526 adding, 416 cuttingOf 75 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Old Dominion files

Where Old Dominion stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $5.60bn, down 0.6% on a year earlier, faster than -4.8% a quarter earlier. That puts it 845 of 931 for growth among all the companies we cover. Free-cash-flow margin rose to 19.9% from 13.8% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $76.16 a share, against a share price of $189. At that price, our model says the market is pricing in about 18.4% a year of cash-flow growth for five years, faster than the 1.3% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 3, 2027 (estimated)

Old Dominion's trailing-twelve-month revenue fell 0.6% year on year, with a free-cash-flow margin of 19.9%. Where it stands out: operating margin of 25.8% ranks 1 of 18 cargo ground transportation companies we cover.

Our discounted-cash-flow model values the business at ~$85 per share in the base case (~$64–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 42.8% while net income fell 0.5%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 25.8% of revenue is left as operating profit, against a median of 3.4% for cargo ground transportation companies we cover.
  • Shrinking share count. Diluted shares fell 1.9% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $176.23 is 52% above our value per share of $85.
  • Revenue shrinking. Revenue fell 0.6% over the last 12 months.
  • Insiders selling. 6 insiders sold $26M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$1.65 against an average estimate of $1.61: beat by 2.3%
Revenue
$1.55bn, up 10.4% on a year earlier
Share reaction
-7.8% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
aggregate capital expenditures $380m (2026); capital expenditures $180m (2026)
Next report
October 28, 2026; average EPS estimate $1.50

Old Dominion's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.1%
  • 1 week-3.4%
  • 1 month-2.4%
  • This year+12.9%
  • 1 year+26.3%
  • 5 years+3.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.6B
Operating margin
25.8%
Net margin
19.4%
EPS (TTM, diluted)
$5.19

Growth

Revenue growth
−0.6%
Change in growth rate
+4.1 pts
Share count change
−1.9%

Cash

Free cash flow (TTM)
$1.1B
FCF margin
19.9%

Earnings

Last results
October 28, 2026
Next results (est.)
February 3, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Dividend
  3. Announcement
  4. Announcement
  5. Leadership
  6. Announcement
  7. Announcement
  8. Announcement
  9. Insider trade
  10. Results
  11. Guidance
  12. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Old Dominion valuation models and calculator

What the price is pricing in

The share price implies about 17.0% a year of cash-flow growth for five years.That is faster than the 1.3% a year revenue growth Old Dominion has delivered.

  • Priced in17.0%
  • Last 12 months-0.6%
  • 3 years a year-2.0%
  • 5 years a year1.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($175.75, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$85
Price used
$175.75close November 3, 2026
Implied change
▼ 52%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Old Dominion's free cash flow after stock-based pay with after-tax interest added back ($941M, FY2026 Q2 TTM), growing 8.8% and 4.2% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$64–~$110 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Old Dominion's free cash flow after stock-based pay ( $941M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Old Dominion as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$85 ~$64–$110 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$99–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$170 ~$120–$240 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$100 ~$87–$120 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$110 ~$85–$170 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Old Dominion with Cargo Ground Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +43%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $67$90$121$162$215$284
8.5% $51$68$91$120$158$207
10% $42$55$72$95$124$161

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$27.38$42.15$39.71$61.29$94.89$174.74$138.95$199.33$174.40$156.14$176.23
Market value$6.8bn$10.4bn$9.8bn$14.8bn$22.5bn$40.7bn$31.4bn$43.9bn$37.8bn$33.0bn$37.0bn
+ Net debt (− = net cash)$95m−$32m−$145m−$359m−$301m−$363m−$86m−$354m−$49m−$80m−$264m
Enterprise value$6.9bn$10.4bn$9.6bn$14.4bn$22.2bn$40.3bn$31.3bn$43.5bn$37.7bn$33.0bn$36.7bn
Multiples
Price / sales 2.3x3.1x2.4x3.6x5.6x7.7x5.0x7.5x6.5x6.0x6.6x
Price / earnings 23.1x22.5x16.1x24.0x33.4x39.3x22.8x35.4x31.8x32.3x33.9x
Price / free cash flow 46.3x67.6x31.3x29.3x31.8x61.4x34.3x54.1x42.5x34.6x33.1x
EV / EBITDA 10.3x13.3x9.2x13.5x19.0x24.4x14.8x22.2x20.0x19.1x20.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

94 /100

Strong moat

How hard Old Dominion's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 19.0% of total assets over 10 years.

  • Durability 18 / 20

    Operating margin has been a median 25.4%; its worst year was 18.2%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 9 of 9 years, at a median 13.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 12.2% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.92 +22% $6.0bn +10%
Next $6.71 +13% $6.5bn +8%

Next year's EPS estimate has moved +2.2% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.3% on 90 days ago. In the last 30 days, 8 analysts raised Old Dominion's forecast and 2 cut it.

Consensus EPS forecast Old Dominion, last 90 days
$5.50 $6.00 $6.50 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.79 Current fiscal year, 60 days ago: $5.81 Current fiscal year, 30 days ago: $5.81 Current fiscal year, 7 days ago: $5.86 Current fiscal year, Now: $5.92 $5.92 Next fiscal year, 90 days ago: $6.56 Next fiscal year, 60 days ago: $6.59 Next fiscal year, 30 days ago: $6.60 Next fiscal year, 7 days ago: $6.69 Next fiscal year, Now: $6.71 $6.71

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.79$6.56
60 days ago $5.81$6.59
30 days ago $5.81$6.60
7 days ago $5.86$6.69
Now $5.92$6.71

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.61 $1.65 +2.3%
Jun 2026 $1.53 $1.68 +9.7%
Mar 2026 $1.05 $1.14 +8.6%
Dec 2025 $1.06 $1.09 +2.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • aggregate capital expenditures 2026 about $380m
    “The Company expects its aggregate capital expenditures for 2026 to total approximately $380 million.” source
  • capital expenditures · real estate and service center expansion projects 2026 about $180m
    “This total now includes planned expenditures of $180 million for real estate and service center expansion projects; $155 million for tractors and trailers; and $45 million for information technology and other assets.” source
  • capital expenditures · tractors and trailers 2026 about $155m
    “This total now includes planned expenditures of $180 million for real estate and service center expansion projects; $155 million for tractors and trailers; and $45 million for information technology and other assets.” source
  • capital expenditures · information technology and other assets 2026 about $45m
    “This total now includes planned expenditures of $180 million for real estate and service center expansion projects; $155 million for tractors and trailers; and $45 million for information technology and other assets.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Old Dominion's revenue by +8.8% next year and +4.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+11.8%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1042%
Hold1354%
Sell14%

Monthly trend

  1. Oct 202691324
  2. Sep 202691224
  3. Aug 2026812224
  4. Jul 2026812324

Counts of recommendations published by analysts covering Old Dominion, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.3%
of tradable shares
Days to cover
4.76
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
8.2%
of shares
Employees
20,182
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +26.3%

$139.55 on October 31, 2025 to $176.23

ThenNowEffect
Revenue (last 12 months) $5.6bn $5.6bn −0.6%
Net margin 19.4% 19.4% +0.1%
P/E multiple 27.2x 33.9x +24.5%
Share count 214m 210m +2.0%

Biggest factor: p/e multiple.

Last 3 years −8.6%

$192.75 on November 3, 2023 to $176.23

ThenNowEffect
Revenue (last 12 months) $6.0bn $5.6bn −5.9%
Net margin 21.5% 19.4% −9.5%
P/E multiple 33.7x 33.9x +0.7%
Share count 223m 210m +6.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ODFL+84%−21%+44%−13%−11%+13%
Industry peers (median)+36%−12%+11%−9%−14%+14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ODFL75%33%67%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ODFL−9%−35%−20%−25%−39%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 45% from November 11, 2024 to November 20, 2025. Getting back needed a 82% gain, reached on June 3, 2026, 195 days after the low.

Price behaviour

52-week range
$125.51 – $248.34
From 52-week high
−29.0%
vs 50-day average
−3.6%
vs 200-day average
−12.5%
Volatility (1 year)
38%
Beta vs S&P 500
0.92

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.5%
After a week
7 up, 4 down
typical move ±6.9%
After a month
6 up, 5 down
typical move ±7.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −7.8% 0.0% — —
July 29, 2026 −6.1% +0.1% −4.8% −11.6%
April 29, 2026 −4.2% +1.0% −9.5% +1.5%
February 4, 2026 +6.5% −1.7% +2.5% +2.4%
October 29, 2025 +0.9% −1.1% +3.4% −0.6%
July 30, 2025 −7.9% −0.5% −7.5% −7.7%
April 23, 2025 +4.5% +3.7% +0.8% +7.6%
February 5, 2025 +6.7% +0.8% +10.5% −2.1%
October 23, 2024 −3.9% −0.7% +2.1% +9.4%
July 24, 2024 +6.1% −2.8% +8.4% +3.6%
April 24, 2024 −10.3% −0.4% −16.8% −21.8%
January 31, 2024 −0.9% −0.3% +9.2% +12.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Old Dominion’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.12× the last 60 days’ realised volatility , richer than 35% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Old Dominion in five measures

Fundamentals grade A
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Old Dominion
$5.4B $5.6B $5.8B $6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $5.9B Revenue (TTM), FY23 Q4: $5.9B Revenue (TTM), FY24 Q1: $5.9B Revenue (TTM), FY24 Q2: $6B Revenue (TTM), FY24 Q3: $5.9B Revenue (TTM), FY24 Q4: $5.8B Revenue (TTM), FY25 Q1: $5.7B Revenue (TTM), FY25 Q2: $5.6B Revenue (TTM), FY25 Q3: $5.6B Revenue (TTM), FY25 Q4: $5.5B Revenue (TTM), FY26 Q1: $5.5B Revenue (TTM), FY26 Q2: $5.6B $5.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $5.9B
FY23 Q4 $5.9B
FY24 Q1 $5.9B
FY24 Q2 $6B
FY24 Q3 $5.9B
FY24 Q4 $5.8B
FY25 Q1 $5.7B
FY25 Q2 $5.6B
FY25 Q3 $5.6B
FY25 Q4 $5.5B
FY26 Q1 $5.5B
FY26 Q2 $5.6B
Revenue growth, TTM YoY Old Dominion
-8% -6% -4% -2% 0% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -5.1% Revenue growth, TTM YoY, FY23 Q4: -6.3% Revenue growth, TTM YoY, FY24 Q1: -5.2% Revenue growth, TTM YoY, FY24 Q2: 0.3% Revenue growth, TTM YoY, FY24 Q3: 1.1% Revenue growth, TTM YoY, FY24 Q4: -0.9% Revenue growth, TTM YoY, FY25 Q1: -2.6% Revenue growth, TTM YoY, FY25 Q2: -5.5% Revenue growth, TTM YoY, FY25 Q3: -5.9% Revenue growth, TTM YoY, FY25 Q4: -5.5% Revenue growth, TTM YoY, FY26 Q1: -4.8% Revenue growth, TTM YoY, FY26 Q2: -0.6% -0.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -5.1%
FY23 Q4 -6.3%
FY24 Q1 -5.2%
FY24 Q2 0.3%
FY24 Q3 1.1%
FY24 Q4 -0.9%
FY25 Q1 -2.6%
FY25 Q2 -5.5%
FY25 Q3 -5.9%
FY25 Q4 -5.5%
FY26 Q1 -4.8%
FY26 Q2 -0.6%
Operating margin (TTM) Old Dominion
24% 25% 26% 27% 28% 29% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 28.1% Operating margin (TTM), FY23 Q4: 28.0% Operating margin (TTM), FY24 Q1: 27.9% Operating margin (TTM), FY24 Q2: 28.0% Operating margin (TTM), FY24 Q3: 27.5% Operating margin (TTM), FY24 Q4: 26.6% Operating margin (TTM), FY25 Q1: 26.1% Operating margin (TTM), FY25 Q2: 25.4% Operating margin (TTM), FY25 Q3: 24.9% Operating margin (TTM), FY25 Q4: 24.8% Operating margin (TTM), FY26 Q1: 24.6% Operating margin (TTM), FY26 Q2: 25.8% 25.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 28.1%
FY23 Q4 28.0%
FY24 Q1 27.9%
FY24 Q2 28.0%
FY24 Q3 27.5%
FY24 Q4 26.6%
FY25 Q1 26.1%
FY25 Q2 25.4%
FY25 Q3 24.9%
FY25 Q4 24.8%
FY26 Q1 24.6%
FY26 Q2 25.8%
FCF margin (TTM) Old Dominion
5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 9.8% FCF margin (TTM), FY23 Q4: 13.8% FCF margin (TTM), FY24 Q1: 15.9% FCF margin (TTM), FY24 Q2: 17.5% FCF margin (TTM), FY24 Q3: 16.7% FCF margin (TTM), FY24 Q4: 15.3% FCF margin (TTM), FY25 Q1: 14.5% FCF margin (TTM), FY25 Q2: 13.8% FCF margin (TTM), FY25 Q3: 16.5% FCF margin (TTM), FY25 Q4: 17.4% FCF margin (TTM), FY26 Q1: 18.7% FCF margin (TTM), FY26 Q2: 19.9% 19.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 9.8%
FY23 Q4 13.8%
FY24 Q1 15.9%
FY24 Q2 17.5%
FY24 Q3 16.7%
FY24 Q4 15.3%
FY25 Q1 14.5%
FY25 Q2 13.8%
FY25 Q3 16.5%
FY25 Q4 17.4%
FY26 Q1 18.7%
FY26 Q2 19.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Old Dominion took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $5.5B
  2. Other operating costs $4.1B · 75.2%
  3. Operating income $1.4B · 24.8%
  4. Income tax $338M · 6.1%
  5. Net income $1B · 18.6%

Shares of revenue. Source: Old Dominion's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2,992 3,358 4,044 4,109 4,015 5,256 6,260 5,866 5,815 5,496 5,603
EBITDA 674 782 1,047 1,072 1,168 1,651 2,117 1,965 1,889 1,726 1,817
Operating income 484 576 817 819 907 1,392 1,841 1,641 1,544 1,361 1,448
Net income 296 464 606 616 673 1,034 1,377 1,240 1,186 1,024 1,089
Diluted EPS $1.19 $1.88 $2.46 $2.55 $2.84 $4.45 $6.09 $5.63 $5.48 $4.84 $5.19
Growth (year on year)
Revenue — +12.3% +20.4% +1.6% −2.3% +30.9% +19.1% −6.3% −0.9% −5.5% −0.6%
EBITDA — +16.0% +34.0% +2.4% +8.9% +41.4% +28.2% −7.2% −3.9% −8.6% +1.7%
Operating income — +19.0% +41.9% +0.2% +10.8% +53.4% +32.3% −10.9% −5.9% −11.8% +1.1%
Net income — +56.8% +30.6% +1.6% +9.3% +53.8% +33.1% −10.0% −4.3% −13.7% −0.5%
Diluted EPS — +58.1% +31.1% +3.7% +11.4% +56.5% +37.0% −7.6% −2.7% −11.7% +1.4%
Margins
EBITDA margin 22.5% 23.3% 25.9% 26.1% 29.1% 31.4% 33.8% 33.5% 32.5% 31.4% 32.4%
Operating margin 16.2% 17.1% 20.2% 19.9% 22.6% 26.5% 29.4% 28.0% 26.6% 24.8% 25.8%
Net margin 9.9% 13.8% 15.0% 15.0% 16.8% 19.7% 22.0% 21.1% 20.4% 18.6% 19.4%
Free-cash-flow margin 4.9% 4.6% 7.7% 12.3% 17.6% 12.6% 14.6% 13.8% 15.3% 17.4% 19.9%
Cash flow
Cash from operations 566 536 900 984 933 1,213 1,692 1,569 1,659 1,370 1,394
Capital spending 418 382 588 479 225 550 775 757 771 415 279
Free cash flow 148 154 312 505 708 663 916 812 888 955 1,115
Stock-based pay 1 3 5 17 11 15 16 11 11 13 —
Free cash flow after stock pay 146 151 307 488 697 647 901 801 877 942 —
Balance sheet
Cash 10 127 190 404 401 463 186 434 109 120 284
Total debt 105 95 45 45 100 100 100 80 60 40 20
Net debt (negative = net cash) 95 −32 −145 −359 −301 −363 −86 −354 −49 −80 −264
Diluted shares 249m 247m 246m 241m 237m 233m 226m 220m 216m 212m 210m
Returned to shareholders
Dividends — 33 43 55 71 92 134 175 224 236 238
Buybacks 130 8 163 241 364 536 1,277 454 967 730 545
Total returned 130 41 206 296 435 629 1,412 629 1,191 966 783

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

7 of 7 checks passed · June 30, 2026
What it owns · $5.7bn
Short-term assets $1.0bnLonger-term assets $4.7bn
What it owes, and who funded it · $5.7bn
Short-term liabilities $531mLonger-term liabilities $657mShareholders' equity $4.5bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $531m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $657m of longer-dated liabilities.
  • More cash than debt $284m of cash against $20m of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 3% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.4bn of operating cash flow against $20m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Old Dominion's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$545M
Dividends (TTM)
$238M
Returned to shareholders
70%
of free cash flow
Buybacks, last 3 fiscal years
$2.2B
Diluted share count
−1.9%
year over year
Total shareholder yield
2.1%
dividends 0.7% + buybacks 1.5% of market value
Dividend payout ratio
22%
of net income paid out
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in cargo ground transportation
Last 12 months unless stated ODFL LSTR SNDR ARCB TFII KNX Median
Revenue, last 12 months $5.6bn $5.3bn $6.0bn $4.2bn $7.9bn $8.0bn $3.5bn
Revenue growth, last 12 months −0.6% 10.7% 6.0% 3.7% −6.1% 7.0% 7.0%
Revenue growth, 3-year average −2.0% −2.9% 1.5% −3.3% — 4.8% −0.8%
Revenue growth, latest quarter 10.4% 25.4% 9.2% 15.9% — 14.2% 10.4%
Operating margin 25.8% 4.1% 3.4% 0.7% 7.2% 4.2% 3.2%
Operating margin, 3-year average 26.4% 4.4% 3.1% 3.4% — 3.4% 3.4%
Net margin 19.4% 3.0% 2.4% 0.4% 3.9% 1.9% 3.0%
Cash from operations / revenue 24.9% 3.2% 9.9% 6.7% 12.4% 19.0% 9.9%
Free-cash-flow margin 19.9% 3.0% 4.3% 4.1% 8.9% 9.6% 3.0%
Free-cash-flow margin, 3-year average 17.1% 4.3% 4.2% 2.6% — 3.8% 0.9%
Stock pay / revenue 0.3% 0.2% 0.3% 0.2% 0.2% 0.3% 0.3%
Change in share count −1.9% −2.8% 0.1% −4.2% −2.1% 0.4% −1.5%

Median of all 19 companies we cover in cargo ground transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

19 cargo ground transportation companies
Measure Company Peer median Rank
Revenue growth Growth -0.6% 7.0% 14 of 19
Change in growth rate Growth +4.1pp +3.0pp 9 of 19
Operating margin Profitability 25.8% 3.4% 1 of 18
Net margin Profitability 19.4% 3.0% 1 of 18
Free-cash-flow margin Cash generation 19.9% 3.0% 1 of 19
Long-term debt as % of assets Balance sheet 0.0% 11.5% 1 of 17
Change in share count Balance sheet -1.9% -1.5% 9 of 18
Days sales outstanding Balance sheet 39 days 49 days 3 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
LTL Service Revenue $5.4B 99.1% ▼ 5.5%
Other Service Revenue $50.2M 0.9% ▼ 6.5%

From Old Dominion's 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$35.8B
Institutions reporting
1,018
Shares held vs prior quarter
▼ 0.4%
Positions opened / closed
130 / 74

Top buyers and sellers, Q2 2026: 526 institutions bought and 416 sold ; the biggest buyer was FMR LLC (+982K shares) and the biggest seller Price T Rowe Associates Inc (−2.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.4B 15.8M 9.5% ▲ 5.9%
FMR LLC $2.7B 12.7M 7.7% ▲ 8.4%
Vanguard Capital Management LLC $2.6B 12.1M 7.3% ▲ 0.1%
Price T Rowe Associates Inc $2.1B 9.8M 5.9% ▼ 20.6%
Vanguard Portfolio Management LLC $1.9B 8.7M 5.3% ▲ 0.5%
State Street Corp $1.8B 8.3M 5.0% ▲ 5.7%
Invesco Ltd. $1.6B 7.3M 4.4% ▲ 5.0%
Geode Capital Management, LLC $1.1B 5.2M 3.1% ▲ 2.0%
Boston Partners $828M 3.8M 2.3% ▼ 4.3%
Goldman Sachs Group Inc $721M 3.3M 2.0% ▲ 8.9%
CIBC Bancorp Usa Inc. $695M 3.2M 1.9% ▼ 0.2%
Norges Bank $646M 3.0M 1.8% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Old Dominion's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $26.2M 12 trades by 6 insiders · 0% under pre-set plans
Net ▼ $26.2M net selling
Insider Date Trade Shares Price Value
Overbey Cecil E. Jr. SVP - Strategic Development August 25, 2026 Sell 19,952 $198.39 $4M
Gantt Greg C Director May 4, 2026 Sell 1,091 $193.24 $210,825
Gantt Greg C Director May 4, 2026 Sell 4,289 $192.53 $825,761
Gantt Greg C Director May 4, 2026 Sell 11,654 $191.47 $2.2M
Gantt Greg C Director May 4, 2026 Sell 5,073 $190.39 $965,848
Congdon Earl E Chair Emeritus & Sr. Advisor February 26, 2026 Sell 14,402 $196.50 $2.8M
Congdon Earl E Chair Emeritus & Sr. Advisor February 26, 2026 Sell 10,598 $195.62 $2.1M
Congdon David S Executive Chairman February 19, 2026 Sell 10,000 $195.17 $2M
Congdon David S Executive Chairman February 19, 2026 Sell 42,000 $194.67 $8.2M
Gabosch Bradley R Director February 18, 2026 Sell 3,134 $194.27 $608,842
Kelley Christopher James SVP - Operations February 18, 2026 Sell 80 $200.43 $16,034
Gantt Greg C Director February 9, 2026 Sell 12,024 $196.43 $2.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 16 trades and filings

No trades in Old Dominion disclosed in the last 12 months; 16 earlier trades on record.

  • Rick Larsen(D-WA 2):Sale (full), $1,001 - $15,000, traded October 6, 2025, filed October 16, 2025
  • Marjorie Taylor Greene(R-GA 14):Purchase, $1,001 - $15,000, traded May 5, 2025, filed May 6, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Purchase, $1,001 - $15,000, traded April 8, 2025, filed May 8, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • February 4, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Old Dominion was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Old Dominion in brief

What does Old Dominion do?
Old Dominion is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.
What is Old Dominion's stock ticker?
Old Dominion trades under the ticker ODFL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Old Dominion's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Old Dominion reported revenue of $5.6B, 0.6% lower than a year earlier, according to its SEC filings.
What is Old Dominion's free cash flow?
Old Dominion's free-cash-flow margin is 19.9% of revenue over the trailing twelve months, ranking 1 of the 19 cargo ground transportation companies we cover.
What is Old Dominion's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Old Dominion's free cash flow after stock-based pay gives ~$85 per share in the base case, and ~$64–$110 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Old Dominion's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Old Dominion buying back stock, and does it pay a dividend?
Old Dominion spent $545M on share repurchases over the trailing twelve months, and its diluted share count fell 1.9% over the year.
What is Old Dominion's market cap?
On November 2, 2026, Old Dominion's market capitalisation was about $37B, with a price-to-earnings ratio of 33.9 and net debt of -$264M. Market figures come from third-party market data and may be delayed.
Does Old Dominion pay a dividend?
Yes: Old Dominion paid $238M in dividends over the trailing twelve months, a dividend yield of 0.65% and a payout ratio of 21.8%.
How much debt does Old Dominion have?
Old Dominion's debt-to-equity ratio is 0.4%, from its latest balance sheet (2.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Old Dominion's competitors?
In our Cargo Ground Transportation peer group, the companies closest to Old Dominion are Landstar System Inc, Schneider National, Inc., Arcbest Corp, TFI International Inc. and Knight-swift Transportation Holdings Inc. The side-by-side comparison below sets their revenue, margins and growth against Old Dominion's.
Are insiders buying or selling Old Dominion stock?
Over the last 12 months, Old Dominion's directors and officers reported 0 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Old Dominion's next earnings date?
Around February 3, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Old Dominion announces its own schedule.