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Old Dominion key statistics and ratios

In fiscal 2025, Old Dominion had return on equity of 23.9%, an operating margin of 24.8%, debt equal to 0.9% of equity and a current ratio of 1.44. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin16.2%17.1%20.2%19.9%22.6%26.5%29.4%28.0%26.6%24.8%25.8%
Net margin9.9%13.8%15.0%15.0%16.8%19.7%22.0%21.1%20.4%18.6%19.4%
Free-cash-flow margin4.9%4.6%7.7%12.3%17.6%12.6%14.6%13.8%15.3%17.4%19.9%
Return on equity16.0%22.5%24.4%21.4%21.0%29.5%37.6%31.3%27.9%23.9%24.6%
Return on assets11.0%16.1%18.3%16.3%16.1%22.5%28.5%23.9%21.6%18.7%19.4%
Asset turnover1.111.171.221.090.961.141.301.131.061.001.00
Current ratio1.331.671.982.373.332.981.762.101.331.441.89
Debt to equity5.7%4.2%1.7%1.5%3.0%2.7%2.7%1.9%1.4%0.9%0.4%
Effective tax rate38.1%19.5%25.7%25.3%25.4%25.5%25.2%24.8%23.9%24.8%24.9%
Capital spending as % of revenue14.0%11.4%14.5%11.7%5.6%10.5%12.4%12.9%13.3%7.6%5.0%
Free cash flow ÷ net income49.9%33.2%51.5%82.0%105.2%64.1%66.5%65.5%74.9%93.3%102.3%
Dividends ÷ net income—7.1%7.0%8.9%10.6%8.9%9.8%14.1%18.9%23.0%21.8%
Dividends and buybacks ÷ free cash flow88.3%26.6%66.0%58.6%61.5%94.9%154.0%77.4%134.1%101.1%70.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

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Figures from Old Dominion's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Old Dominion.