Old Dominion Freight Line (ODFL) financial statements
Old Dominion Freight Line reported revenue of $5.5B in fiscal 2025, up 7.0% a year over 9 years.
Net income was $1.0B and the operating margin 24.8%, against 16.2% in 2016.
Free cash flow was $955M, and the company returned $236M in dividends and $730M in net buybacks.
The diluted share count fell 15% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Old Dominion Freight Line's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.4B | $4.0B | $4.1B | $4.0B | $5.3B | $6.3B | $5.9B | $5.8B | $5.5B |
| Operating income | $484M | $576M | $817M | $819M | $907M | $1.4B | $1.8B | $1.6B | $1.5B | $1.4B |
| Interest expense | $4M | $2M | $189,000 | $377,000 | $3M | $2M | $2M | $464,000 | $212,000 | $296,000 |
| Pre-tax income | $478M | $576M | $816M | $824M | $901M | $1.4B | $1.8B | $1.6B | $1.6B | $1.4B |
| Income tax | $182M | $112M | $210M | $208M | $229M | $354M | $464M | $408M | $372M | $338M |
| Net income | $296M | $464M | $606M | $616M | $673M | $1.0B | $1.4B | $1.2B | $1.2B | $1.0B |
| EPS (diluted) | $1.19 | $1.88 | $2.46 | $2.55 | $2.84 | $4.45 | $6.09 | $5.63 | $5.48 | $4.84 |
| Diluted shares | 249M | 247M | 246M | 241M | 237M | 233M | 226M | 220M | 216M | 212M |
| Operating margin | 16.2% | 17.1% | 20.2% | 19.9% | 22.6% | 26.5% | 29.4% | 28.0% | 26.6% | 24.8% |
| Net margin | 9.9% | 13.8% | 15.0% | 15.0% | 16.8% | 19.7% | 22.0% | 21.1% | 20.4% | 18.6% |
Balance sheet
Fiscal years, from Old Dominion Freight Line's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $127M | $190M | $404M | $732M | $717M | $236M | $434M | $109M | $120M |
| Receivables | $320M | $394M | $428M | $398M | $445M | $567M | $579M | $579M | $502M | $472M |
| Total current assets | $383M | $585M | $706M | $867M | $1.2B | $1.4B | $934M | $1.1B | $721M | $695M |
| Property, plant and equipment | $2.2B | $2.4B | $2.8B | $3.0B | $2.9B | $3.2B | $3.7B | $4.1B | $4.5B | $4.5B |
| Goodwill | $19M | $19M | $19M | $19M | — | — | — | — | — | — |
| Total assets | $2.7B | $3.1B | $3.5B | $4.0B | $4.4B | $4.8B | $4.8B | $5.5B | $5.5B | $5.5B |
| Total current liabilities | $289M | $351M | $357M | $366M | $373M | $464M | $530M | $545M | $541M | $484M |
| Long-term debt | $105M | $45M | $45M | $45M | $100M | $100M | $80M | $60M | $40M | $20M |
| Total liabilities | $845M | $792M | $865M | $915M | $1.0B | $1.1B | $1.2B | $1.3B | $1.2B | $1.2B |
| Shareholders' equity | $1.9B | $2.3B | $2.7B | $3.1B | $3.3B | $3.7B | $3.7B | $4.3B | $4.2B | $4.3B |
| Net debt | $95M | -$82M | -$145M | -$359M | -$301M | -$363M | -$86M | -$354M | -$49M | -$80M |
Cash flow
Fiscal years, from Old Dominion Freight Line's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $566M | $536M | $900M | $984M | $933M | $1.2B | $1.7B | $1.6B | $1.7B | $1.4B |
| Capital spending | $418M | $382M | $588M | $479M | $225M | $550M | $775M | $757M | $771M | $415M |
| Free cash flow | $148M | $154M | $312M | $505M | $708M | $663M | $916M | $812M | $888M | $955M |
| Stock-based compensation | $1M | $3M | $5M | $17M | $11M | $15M | $16M | $11M | $11M | $13M |
| Dividends paid | — | $33M | $43M | $55M | $71M | $92M | $134M | $175M | $224M | $236M |
| Share buybacks (net) | -$130M | -$8M | -$163M | -$241M | -$364M | -$536M | -$1.3B | -$454M | -$967M | -$730M |
| Net borrowing | -$26M | $0 | -$50M | — | $55M | — | — | -$20M | -$20M | -$20M |
| Free cash flow margin | 4.9% | 4.6% | 7.7% | 12.3% | 17.6% | 12.6% | 14.6% | 13.8% | 15.3% | 17.4% |
| Dividends per share | — | $0.13 | $0.17 | $0.23 | $0.30 | $0.40 | $0.59 | $0.80 | $1.03 | $1.11 |
Questions
What was Old Dominion Freight Line's revenue in 2025?
$5.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Old Dominion Freight Line generate?
$955M in fiscal 2025 (operating cash flow minus capital spending).
From Old Dominion Freight Line's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.