# Old Dominion Freight Line (ODFL) — Stock CV

Old Dominion Freight Line is a $37.7B industrial company. Revenue shrank 0.6% over the last year, it keeps 19¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 34.6× earnings — around the middle of its own history.

> Old Dominion Freight Line is the second-largest less-than-truckload carrier in the United States (following FedEx Freight), with roughly 260 service centers and 11,000-plus tractors.

## Identity

- **Ticker**: ODFL
- **Sector**: Industrials
- **Industry**: Trucking (No Local)
- **Headquarters**: THOMASVILLE, NC
- **Employees**: 20 591
- **Website**: https://www.odfl.com
- **Market cap**: $37.7B
- **Last price**: $181.97
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $5.60B
- **Net income**: $1.09B
- **Free cash flow**: $1.11B
- **Net cash**: $100M
- **P/E**: 34.6
- **Revenue growth (YoY)**: -0.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 34 |
| Growth | 46 |
| Profitability | 85 |
| Health | 68 |
| Quality | 90 |
| Moat | 74 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [ ] Revenue growing — -0.6% YoY
- [x] Profitable — $1.09B TTM
- [ ] Profit growing — -7.4% YoY
- [x] Generates cash — $1.11B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $37.7B market cap
- [x] Not printing shares — -10.7% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 0.63%
- [x] Valuation not extreme — P/E 34.6

## Experience (career milestones)

- **FY2022** — Best year on record: $1.38B net income
- **Jan 24, 2022** — ODFL became a Nasdaq-100 company, replacing Peloton Interactive on the index
- **FY2017** — Became debt-free: cash now exceeds total debt
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $2.99B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **1991** — The company (ticker symbol: ODFL) became a public company via an initial public offering
- **1969** — Between 1969 and 1979, the company acquired several competing trucking lines
- **1962** — Five years later, in 1962, the company relocated its headquarters to High Point, North Carolina and merged with…
- **1942** — ODFL also received broader authorization to run routes within Virginia and acquired an additional route from the…
- **1942** — Also in 1942, Earl Sr. and Lillian became 50-50 partners in the business officially, though through the late 1940s…

## Strengths

- High gross margin (89.2%)
- Strong cash conversion — FCF is 19.9% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 1476.5× by operating earnings
- High returns on invested capital (ROIC 24.3%)

## Watch-outs

- Revenue shrinking 0.6% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.26B | $1.03B | $663M |
| FY2022 | $6.26B | $1.38B | $916M |
| FY2023 | $5.87B | $1.24B | $812M |
| FY2024 | $5.81B | $1.19B | $888M |
| FY2025 | $5.50B | $1.02B | $955M |

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Source: https://stockcv.com/ODFL — derived from company filings; may be delayed or incomplete. Information, not investment advice.