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Old Dominion Freight LineODFL

Legal name
Old Dominion Freight Line, Inc.
Sector
Other
Industry
Trucking (No Local)
Exchange
Nasdaq

Stock Price $ODFL

Latest filings

You are here#55 of 87 in Industrials by market cap

Filing record · 2016–202610-K1110-Q328-K144

ODFL filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 144 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Oct ’21Oct ’21
  3. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $5.50B
YoY changeLargest recent move+30.9%in FY21Latest −5.5%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All ODFL Financial Metrics49 metrics

Income Statement9

Balance Sheet22

Cash Flow13

Per Share5

02—Overview

Old Dominion Freight Line Financial Overview 2021–2025

Updated Nov 3, 2026

Despite a prolonged domestic freight recession driving a 9.1% drop in LTL tonnage, Old Dominion Freight Line still engineered a 4.8% increase in revenue per hundredweight (excluding fuel surcharges) in FY2025. This aggressive pricing discipline over pure volume constitutes the core investment thesis: the carrier can defend its profitability and fund substantial capital returns even during severe macroeconomic downturns.

The broader financial trajectory illustrates this resilience amidst shifting demand. Revenue initially surged from $5.3 billiona in FY2021 to a peak of $6.3 billion in FY2022, before macroeconomic headwinds brought the top line down to $5.5 billion by FY2025. Despite this loss in network density, Old Dominion maintained a tight 75.2% operating ratio in FY2025, minimizing the deleveraging effects of lower revenue. To support long-term capacity, the company consistently invested in its infrastructure, though capital expenditures were strategically dialed back to $366.5 million in FY2025 from a high of $751.2 million in FY2024.

Management has utilized robust cash flows to aggressively shrink the float. The company executed $2.26 billion in share repurchasesb in FY2024 alone and finished FY2025 with another $1.54 billion remaining authorized for buybacks. Investors have rewarded this operational stability in a highly cyclical industry. At the close of FY2025, the market valued the company at a $32.7 billion market cap, with shares trading at $156.80 and commanding a premium 32.4x P/E multiple.

Recent Developments (Q1 and Q2 2026)

Old Dominion's earnings inflected in the covered quarters. Revenue fell 2.9% to $1.33 billionc in Q1 2026, with the operating ratio at 76.2%. By Q2 2026, revenue rose 10.4% to $1.554 billion and the operating ratio improved to 70.1%. Q3 2026 revenue grew 13.1% to $1.59 billion, with the ratio at 71.5%. Diluted EPS reached $1.65 in Q3 2026. Much of the yield gain is fuel-related: Q2 2026 revenue per hundredweight rose 15.2%, but only 5.5% excluding fuel. Tonnage per day fell 4.1%, and $17.2 million of asset-sale gains flattered margins. Director John Kasarda retired in September 2026; Worthing Jackman joined the board.

Bull case: pricing and cost control are lifting earnings while volumes remain soft, and the company carries no long-term debt. Bear case: at 44.5x earnings as of the August 4, 2026 report date (not today), the stock prices in a recovery that still depends on fuel and one-time gains.

What to watch: tonnage trends versus the 0.9% August decline; yield growth excluding fuel surcharges

03—Filings

Recent SEC Filings

  1. 8-KOld Dominion Freight Line 8-K Report, Financial Results (Oct 28, 2026)Old Dominion Freight Line, Inc. (ODFL) reported strong third-quarter 2026 financial results, with total revenue increasing by 13.1% year-over-year to $1.59 billion. This growth was primarily driven by a significant 13.3% rise in LTL revenue per hundredweight, indicating successful yield management and pricing strategies, partially offset by a slight decrease in LTL tons per day. The company's operational efficiency also improved, evidenced by a 280 basis point reduction in its operating ratio to 71.5%, contributing to a substantial 28.9% increase in diluted earnings per share (EPS) to $1.65. The company demonstrated robust cash flow generation, with $469.5 million in net cash from operating activities for the quarter. ODFL continues to invest in its future growth, planning approximately $380 million in capital expenditures for 2026, allocated to real estate, service center expansion, equipment, and technology. Furthermore, ODFL actively returned capital to shareholders through share repurchases and dividend payments, underscoring its commitment to shareholder value.
  2. 8-KOld Dominion Freight Line 8-K Report, Corporate Update (Oct 22, 2026)Old Dominion Freight Line, Inc. (ODFL) has announced a quarterly cash dividend of $0.29 per share of common stock. This dividend is a 3.6% increase compared to the dividend paid in December 2025, signaling continued confidence by the Board of Directors in the company's financial health and commitment to returning value to shareholders. The dividend is payable on December 16, 2026, to shareholders of record as of December 2, 2026. This announcement, filed via an 8-K, primarily serves to inform investors about the dividend declaration. While the filing does not provide detailed financial performance metrics for the current quarter, the increased dividend suggests that ODFL is generating sufficient cash flow to support its growth initiatives and shareholder distributions. Investors should view this as a positive signal regarding the company's operational performance and outlook.
  3. 8-KOld Dominion Freight Line 8-K Report, Executive Changes (Sep 22, 2026)Old Dominion Freight Line, Inc. (ODFL) has announced a change to its Board of Directors. Dr. John D. Kasarda has retired from the Board, effective immediately. The company stated that his retirement was not due to any disagreements regarding operations, policies, or practices. Concurrently, the Board has elected Mr. Worthing F. Jackman as a new independent director. Mr. Jackman brings significant executive experience, most recently serving as CEO of Waste Connections, Inc. He has also been appointed to the Governance and Nomination Committee and the Talent and Compensation Committee, indicating his expected contributions to key board functions. His appointment is effective immediately, and he will receive compensation in line with the company's non-employee director program.
  4. 8-KOld Dominion Freight Line 8-K Report, Regulation FD Disclosure (Sep 3, 2026)Old Dominion Freight Line (ODFL) furnished a Regulation FD press release on September 3, 2026, providing an update on certain less-than-truckload (LTL) operating metrics for August 2026 and quarter-to-date third-quarter 2026. The release is a partial operating update, not a full earnings report. It contains no GAAP financial results, margins, earnings per share, or revised guidance. The headline is top-line strength driven by pricing. August revenue per day rose 12.4% year over year. That growth came from a higher LTL revenue per hundredweight, which more than offset a 0.9% decline in LTL tons per day. Tons per day fell because shipments per day dropped 2.4%, partly offset by a 1.7% increase in weight per shipment. Quarter to date, LTL revenue per hundredweight increased 11.3%, and excluding fuel surcharges it rose 4.8%. The gap between those two figures suggests fuel surcharges contributed a meaningful share of the pricing gain, so the underlying rate increase is closer to 4.8%. Management characterized demand as relatively consistent through the quarter and said service quality is supporting ongoing yield improvement. It also said ODFL has the capacity in place to support volume growth as the business environment evolves. Investors should read the release as a sign of pricing discipline with volume still soft. The release does not address margins, cost trends, or the timing of any volume recovery, so those questions require the company's formal third-quarter earnings release and call.
  5. 8-KOld Dominion Freight Line 8-K Report, Financial Results (Jul 29, 2026)Old Dominion Freight Line (ODFL) reported second quarter 2026 results that were strong on the top and bottom lines. Total revenue rose 10.4% year over year to $1.554 billion, driven by a 15.2% increase in LTL revenue per hundredweight, which more than offset a 4.1% decline in LTL tons per day. Operating income climbed 30.0% to $465.3 million, and the operating ratio improved 450 basis points to 70.1%. Diluted EPS of $1.68 rose 32.3% and matched the company's prior record set in Q3 2022. Management attributed part of the margin improvement to $17.2 million of net gains from property and equipment disposals, so investors should consider that gain when evaluating underlying run-rate profitability. Volume trends remain soft. LTL shipments per day fell 5.7%, and LTL tons per day fell 4.1%. Growth is therefore price- and mix-led rather than volume-led. Excluding fuel surcharges, LTL revenue per hundredweight rose 5.5%, which suggests that pricing discipline is doing most of the work. Management described demand as continuing to improve and emphasized 99% on-time service and a 0.1% claims ratio. Balance sheet and capital allocation remain strong. The company generated $272.7 million of operating cash flow in the quarter and $646.3 million year to date, and ended the period with $283.9 million in cash and no long-term debt outstanding (only $20.0 million of current maturities). Capital expenditures for 2026 are now expected to total approximately $380 million. Year-to-date, ODFL repurchased $239.7 million of stock and paid $120.7 million in dividends. Diluted share count declined 1.6% year over year. The filing contains no explicit full-year guidance beyond the capex figure.
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04—See also

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