Old Dominion Freight Line
ODFL · NasdaqTrucking (No Local) · Fiscal year ends Dec 31
Old Dominion Freight Line reported revenue of $5.5B in the fiscal year ended Dec 2025, down 5.5% from the year before. Operating income was $1.4B, an operating margin of 24.8%, and net income was $1B. Operating cash flow of $1.4B less capital expenditure of $415M left free cash flow of $955M. It held more cash than debt (net cash $80M).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $5.3B | $6.3B | $5.9B | $5.8B | $5.5B |
| Operating income | $1.4B | $1.8B | $1.6B | $1.5B | $1.4B |
| Pre-tax income | $1.4B | $1.8B | $1.6B | $1.6B | $1.4B |
| Income tax | $354M | $464M | $408M | $372M | $338M |
| Net income | $1B | $1.4B | $1.2B | $1.2B | $1B |
| Diluted EPS | 8.89 | 6.09 | 5.63 | 5.48 | 4.84 |
| Diluted shares | 116M | 226M | 220M | 216M | 212M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $463M | $186M | $434M | $109M | $120M |
| Receivables | $567M | $579M | $579M | $502M | $472M |
| Current assets | $1.4B | $934M | $1.1B | $721M | $695M |
| Net PP&E | $3.2B | $3.7B | $4.1B | $4.5B | $4.5B |
| Total assets | $4.8B | $4.8B | $5.5B | $5.5B | $5.5B |
| Payables | $83M | $106M | $113M | $92M | $63M |
| Current liabilities | $464M | $530M | $545M | $541M | $484M |
| Short-term debt | – | $20M | $20M | $20M | $20M |
| Long-term debt | $100M | $80M | $60M | $40M | $20M |
| Total liabilities | $1.1B | $1.2B | $1.3B | $1.2B | $1.2B |
| Shareholders' equity | $3.7B | $3.7B | $4.3B | $4.2B | $4.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $1.7B | $1.6B | $1.7B | $1.4B |
| Capital expenditure | $550M | $775M | $757M | $771M | $415M |
| Free cash flow | $663M | $916M | $812M | $888M | $955M |
| Depreciation & amortisation | $260M | $276M | $324M | $345M | $365M |
| Stock-based compensation | $15M | $16M | $11M | $11M | $13M |
| Share buybacks | $536M | $1.3B | $454M | $967M | $730M |
| Dividends paid | $92M | $134M | $175M | $224M | $236M |
| Dividend per share | 0.80 | 0.60 | 0.80 | 1.04 | 1.12 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 19.1% | −6.3% | −0.9% | −5.5% |
| Operating income growth (YoY) | – | 32.3% | −10.9% | −5.9% | −11.8% |
| EPS growth (YoY) | – | −31.5% | −7.6% | −2.7% | −11.7% |
| Operating margin | 26.5% | 29.4% | 28.0% | 26.6% | 24.8% |
| Net margin | 19.7% | 22.0% | 21.1% | 20.4% | 18.6% |
| Return on equityBlank when equity is negative | 28.1% | 37.7% | 29.1% | 27.9% | 23.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 31.9% | 42.7% | 33.0% | 31.2% | 27.3% |
| Free cash flow margin | 12.6% | 14.6% | 13.8% | 15.3% | 17.4% |
| Cash conversion (CFO ÷ net income) | 1.17x | 1.23x | 1.27x | 1.40x | 1.34x |
| Receivable days | 39 | 34 | 36 | 31 | 31 |
| Debt ÷ equity | 0.03x | 0.03x | 0.02x | 0.01x | 0.01x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$363M | −$86M | −$354M | −$49M | −$80M |
| Current ratio | 2.98x | 1.76x | 2.10x | 1.33x | 1.44x |
Recent filings
More in Trucking (No Local)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.