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Old Dominion Freight Line, Inc.

ODFL

Trucking (No Local)

Mkt Cap

$48.38B

PE

39.03

Debt

$79.98M

Cash

$433.8M

EV

$48.03B

FCF

$811.8M

Market Cap

$48.38B

P/E Ratio

39.03

Debt

$79.98M

Cash

$433.8M

EV

$48.03B

FCF

$811.8M
Charts data: {"Earnings":[{"time":"2014-12-30","value":267514000},{"time":"2015-12-30","value":304690000},{"time":"2016-12-30","value":295765000},{"time":"2017-12-30","value":463774000},{"time":"2018-12-30","value":605668000},{"time":"2019-12-30","value":615518000},{"time":"2020-12-30","value":672682000},{"time":"2021-12-30","value":1034375000},{"time":"2022-12-30","value":1377159000},{"time":"2023-12-30","value":1239502000}],"Sales":[{"time":"2014-12-30","value":2787897000},{"time":"2015-12-30","value":2972442000},{"time":"2016-12-30","value":2991517000},{"time":"2017-12-30","value":3358112000},{"time":"2018-12-30","value":4043695000},{"time":"2019-12-30","value":4109111000},{"time":"2020-12-30","value":4015129000},{"time":"2021-12-30","value":5256328000},{"time":"2022-12-30","value":6260077000},{"time":"2023-12-30","value":5866152000}],"Net Margins":[{"time":"2014-12-30","value":0.095955481856037},{"time":"2015-12-30","value":0.1025049437465895},{"time":"2016-12-30","value":0.09886789879515978},{"time":"2017-12-30","value":0.13810557837260937},{"time":"2018-12-30","value":0.1497808316403685},{"time":"2019-12-30","value":0.14979347114254155},{"time":"2020-12-30","value":0.16753683381032092},{"time":"2021-12-30","value":0.19678661605592346},{"time":"2022-12-30","value":0.21999074452279102},{"time":"2023-12-30","value":0.21129728653468235}],"Assets":[{"time":"2014-12-30","value":2236237000},{"time":"2015-12-30","value":2466504000},{"time":"2016-12-30","value":2696247000},{"time":"2017-12-30","value":3068424000},{"time":"2018-12-30","value":3545283000},{"time":"2019-12-30","value":3995568000},{"time":"2020-12-30","value":4369410000},{"time":"2021-12-30","value":4821544000},{"time":"2022-12-30","value":4838610000},{"time":"2023-12-30","value":5512393000}],"Stockholders Equity":[{"time":"2014-12-30","value":1494064000},{"time":"2015-12-30","value":1684637000},{"time":"2016-12-30","value":1851158000},{"time":"2017-12-30","value":2276854000},{"time":"2018-12-30","value":2680483000},{"time":"2019-12-30","value":3080717000},{"time":"2020-12-30","value":3326288000},{"time":"2021-12-30","value":3679807000},{"time":"2022-12-30","value":3652917000},{"time":"2023-12-30","value":4257811000}],"ROE":[{"time":"2014-12-30","value":0.17905123207573437},{"time":"2015-12-30","value":0.1808638893720131},{"time":"2016-12-30","value":0.15977296373405186},{"time":"2017-12-30","value":0.2036907065626518},{"time":"2018-12-30","value":0.2259547999371755},{"time":"2019-12-30","value":0.19979699530985806},{"time":"2020-12-30","value":0.2022320376347448},{"time":"2021-12-30","value":0.2810949052491068},{"time":"2022-12-30","value":0.37700254344678513},{"time":"2023-12-30","value":0.29111249888733903}],"ROA":[{"time":"2014-12-30","value":0.19734357315436601},{"time":"2015-12-30","value":0.20200251043582335},{"time":"2016-12-30","value":0.17944758028474395},{"time":"2017-12-30","value":0.1883657538853822},{"time":"2018-12-30","value":0.23046143283907095},{"time":"2019-12-30","value":0.20631009158147226},{"time":"2020-12-30","value":0.20755250708905779},{"time":"2021-12-30","value":0.28862165314679283},{"time":"2022-12-30","value":0.3805532993979676},{"time":"2023-12-30","value":0.29892208338556414}]}

Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting. As of December 31, 2022, it owned and operated 11,274 tractors, 31,252 linehaul trailers, and 14,315 pickup and delivery trailers; 44 fleet maintenance centers; and 255 service centers. Old Dominion Freight Line, Inc. was founded in 1934 and is headquartered in Thomasville, North Carolina.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$811.8M$1.055B$1.343B$1.671B$2.033B$2.417B$2.806B$3.18B$3.516B$3.79B$3.979B$39.79B
DCF$917.7M$1.015B$1.099B$1.162B$1.202B$1.213B$1.196B$1.149B$1.077B$983.6M$9.836B
Value$20.85B

In the chart Earnings are multiplied by this value.

Earnings Growth 23%
Earnings Stability 94%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin10%9.9%14%15%15%17%20%22%21%21%
ROA20%18%19%23%21%21%29%38%30%30%
ROE18%16%20%23%20%20%28%38%29%29%

What is the average Net Margin?

The average Net Margin over the past 5 years is +18.25%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +1.56%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +26.87%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +2.7%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +26.29%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +2.68%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF1.750.710.940.140.090.140.150.110.100.10
Debt Equity0.100.060.060.020.010.030.030.030.020.02
MIN
Graham Stability--100%100%100%100%100%100%100%100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.10.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.00.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201812-202012-2022Trend
Revenue10%7.7%13%-6.3%0.31%
Net Income23%15%23%-10%-0.25%
Stockholders Equity13%9.7%8.6%17%-0.85%
FCF28%21%4.7%-11%-22%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +7.72%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +0.31%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +15.4%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -0.25%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +9.7%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -0.85%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +21.09%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -22.12%.