Old Dominion Freight Line, Inc. (ODFL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-66.1%

$60.09

vs $177.49 price

Levered DCF

$53.52

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

19.78

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	32.33×	32.01×	35.81×	23.15×	40.09×	34.12×	24.71×	16.73×
P/B	7.63×	8.95×	10.42×	8.78×	11.26×	6.95×	4.95×	3.78×
P/S	5.99×	6.53×	7.56×	5.13×	7.89×	5.76×	3.71×	2.5×
EV / EBITDA	19.08×	20×	22.3×	15.1×	24.88×	19.53×	13.82×	9.54×
Gross margin	32.2%	34.8%	35.3%	36.0%	33.8%	30.6%	28.5%	28.3%
Operating margin	24.8%	26.6%	28.0%	29.4%	26.5%	22.6%	19.9%	20.2%
Net margin	18.6%	20.4%	21.1%	22.0%	19.7%	16.8%	15.0%	15.0%
Current ratio	1.44×	1.33×	2.1×	1.76×	2.98×	3.33×	2.37×	1.98×
Debt / equity	0.03×	0.04×	0.02×	0.03×	0.03×	0.03×	0.01×	0.02×
Interest coverage	4,598.13×	7,283.01×	3,535.93×	1,177.63×	805.79×	325.98×	2,171.63×	4,323.02×
Dividend yield	0.7%	0.6%	0.4%	0.4%	0.2%	0.3%	0.4%	0.4%
Payout ratio	23.0%	18.9%	14.1%	9.8%	8.9%	10.6%	8.9%	7.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.7%	27.9%	29.1%	37.7%	28.1%	20.2%	20.0%	22.6%
Return on invested capital	19.9%	23.6%	24.7%	31.8%	23.8%	16.9%	16.9%	19.0%
Return on assets	18.3%	21.6%	22.5%	28.5%	21.5%	15.4%	15.4%	17.1%
Free cash flow yield	2.9%	2.3%	1.8%	2.9%	1.6%	3.1%	3.3%	3.1%
Earnings yield	3.1%	3.1%	2.8%	4.3%	2.5%	2.9%	4.0%	6.0%
Enterprise value	$32.9B	$38B	$44B	$32B	$41.1B	$22.8B	$14.9B	$10B
Net debt / EBITDA	0.01×	0.03×	-0.18×	-0.04×	-0.22×	-0.26×	-0.33×	-0.14×
Cash conversion cycle (days)	27	24	27	26	33	32	28	32