olivLaw · US equity research
Old Dominion Freight Line, Inc. ODFL
Trucking (No Local) · SIC 4213 · Vertical: Trucking (No Local) (SIC 4213)
Old Dominion Freight Line is one of the largest North American less-than-truckload (LTL) carriers, running an integrated network of service centers and focusing on high-quality service at a fair price. Its relevance now comes from a return to profit growth in the second quarter of 2026, as demand trends improved and revenue rose by 10.4%, while physical volumes remain below the prior year.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Old Dominion Freight Line, Inc. (ODFL) stock was 179.39 USD (+0.96% on the day), with market capitalisation 37.0 bn USD, P/E 32.2 on diluted EPS of 5.56 USD over the last 12 months, dividend yield 0.64%, beta 1.12, 52-week range 126.29–248.73 USD. Latest reported quarter (Q3 2026): revenue of 1.6 bn USD (+13.1% YoY), net income of 343.7 m USD (+26.9% YoY), diluted EPS 1.65 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 47.2
- neutral
- Bollinger (20, 2)
- 171.41 – 193.33
- in the lower half of the band · %B 0.36 · band width 12.0%
- SMA 50 / 200
- 182.09 / 201.78
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.88 / -1.29
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.0% | −1.1% | +1.1 pp | — |
| 3 months | −16.7% | −0.5% | −16.3 pp | — |
| 6 months | −10.6% | +4.4% | −15.0 pp | — |
| Year to date | +14.4% | +12.3% | +2.1 pp | — |
| 1 year | +26.9% | +13.5% | +13.4 pp | +34.0% |
| 3 years | −8.6% | +76.4% | −85.0 pp | +4.3% |
| 5 years | +2.9% | +63.7% | −60.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.4 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.3 bn | 1.3 bn | 1.6 bn | 1.6 bn |
| Operating income | 334.0 m | 338.1 m | 357.9 m | 360.8 m | 304.3 m | 317.3 m | 465.3 m | 452.6 m |
| Depreciation & amortisation | 88.8 m | 89.1 m | 90.7 m | 92.2 m | 92.7 m | 92.3 m | 91.7 m | 90.4 m |
| Interest expense | 25.0 k | 2.0 k | 6.0 k | 4.0 k | 284.0 k | 299.0 k | 76.0 k | 32.0 k |
| Pre-tax income | 335.2 m | 338.6 m | 357.2 m | 360.3 m | 305.1 m | 317.7 m | 467.5 m | 455.0 m |
| Income tax | 72.0 m | 84.0 m | 88.6 m | 89.4 m | 75.7 m | 79.4 m | 116.9 m | 111.3 m |
| Net income | 263.1 m | 254.7 m | 268.6 m | 270.9 m | 229.5 m | 238.3 m | 350.6 m | 343.7 m |
| Diluted EPS | 1.23 ≈ | 1.19 | 1.27 | 1.28 | 1.09 ≈ | 1.14 | 1.68 | 1.65 |
| Operating cash flow | 401.1 m | 336.5 m | 285.8 m ≈ | 437.5 m ≈ | 310.3 m | 373.6 m | 272.7 m ≈ | 469.5 m ≈ |
| Capex | 170.9 m | 88.1 m | 187.2 m ≈ | 93.9 m ≈ | 45.8 m | 62.6 m | 77.0 m ≈ | 67.0 m ≈ |
| Dividends paid | 55.4 m | 59.5 m | 59.0 m ≈ | 58.7 m ≈ | 58.4 m | 60.5 m | 60.2 m ≈ | 60.0 m ≈ |
| Share repurchases | 182.5 m | 201.1 m | 223.5 m ≈ | 180.8 m ≈ | 124.9 m | 88.1 m | 151.6 m ≈ | 160.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 84 percentile of its own 44-quarter history (min 5.5, median 15.3, max 43.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.0 bn | 4.1 bn | 4.0 bn | 5.3 bn | 6.3 bn | 5.9 bn | 5.8 bn | 5.5 bn |
| Revenue YoY | +20.4% | +1.6% | −2.3% | +30.9% | +19.1% | −6.3% | −0.9% | −5.5% |
| Net income | 605.7 m | 615.5 m | 672.7 m | 1.0 bn | 1.4 bn | 1.2 bn | 1.2 bn | 1.0 bn |
| Net income YoY | +30.6% | +1.6% | +9.3% | +53.8% | +33.1% | −10.0% | −4.3% | −13.7% |
| Diluted EPS | 4.92 | 5.10 | 5.68 | 8.89 | 6.09 | 5.63 | 5.48 | 4.84 |
| Diluted EPS YoY | −12.6% | +3.7% | +11.4% | +56.5% | −31.5% | −7.6% | −2.7% | −11.7% |
| net % | 15.0% | 15.0% | 16.8% | 19.7% | 22.0% | 21.1% | 20.4% | 18.6% |
| Free cash flow | 311.8 m | 504.6 m | 707.9 m | 662.5 m | 916.4 m | 811.8 m | 888.0 m | 955.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 120.1 m USD
- Financial debt
- 40.0 m USD
- Net debt
- -80.1 m USD
- Equity
- 4.3 bn USD
- Total assets
- 5.5 bn USD
- Debt / equity
- 0.01x
- Current ratio
- 1.44x
- ROE
- 23.9%
- ROA
- 18.7%
- FCF margin
- 17.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.0 bn | 5.3 bn | 6.3 bn | 5.9 bn | 5.8 bn | 5.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | 906.9 m | 1.4 bn | 1.8 bn | 1.6 bn | 1.5 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 261.3 m | 259.9 m | 276.1 m | 324.4 m | 344.6 m | 364.7 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | 1.2 bn ≈ | 1.7 bn ≈ | 2.1 bn ≈ | 2.0 bn ≈ | 1.9 bn ≈ | 1.7 bn ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Interest expense | 2.8 m | 1.7 m | 1.6 m | 464.0 k | 212.0 k | 296.0 k | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | 901.4 m | 1.4 bn | 1.8 bn | 1.6 bn | 1.6 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | 228.7 m | 354.0 m | 464.2 m | 408.3 m | 371.5 m | 337.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | 672.7 m | 1.0 bn | 1.4 bn | 1.2 bn | 1.2 bn | 1.0 bn | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | 5.68 | 8.89 | 6.09 | 5.63 | 5.48 | 4.84 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 118.5 m | 116.4 m | 226.2 m | 220.2 m | 216.5 m | 211.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Dividend per share | 0.60 | 0.80 | 0.60 | 0.80 | 1.04 | 1.12 | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 401.4 m | 462.6 m | 186.3 m | 433.8 m | 108.7 m | 120.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 444.7 m | 567.5 m | 578.6 m | 578.9 m | 501.6 m | 471.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 1.2 bn | 1.4 bn | 933.7 m | 1.1 bn | 720.7 m | 694.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 2.9 bn | 3.2 bn | 3.7 bn | 4.1 bn | 4.5 bn | 4.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 4.4 bn | 4.8 bn | 4.8 bn | 5.5 bn | 5.5 bn | 5.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 68.5 m | 82.5 m | 106.3 m | 112.8 m | 91.8 m | 62.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Short-term debt | 0 | 0 | 20.0 m | 20.0 m | 20.0 m | 20.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | — | — | — | — | — | 20.0 m | SEC (XBRL)· 06 May 2026verified |
| Current liabilities | 373.1 m | 464.2 m | 529.8 m | 544.7 m | 540.5 m | 483.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 1.0 bn | 1.1 bn | 1.2 bn | 1.3 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 3.3 bn † | 3.7 bn † | 3.7 bn † | 4.3 bn † | 4.2 bn † | 4.3 bn † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 933.0 m | 1.2 bn | 1.7 bn | 1.6 bn | 1.7 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 225.1 m | 550.1 m | 775.1 m | 757.3 m | 771.3 m | 415.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | 707.9 m ≈ | 662.5 m ≈ | 916.4 m ≈ | 811.8 m ≈ | 888.0 m ≈ | 955.1 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Investing cash flow | -551.7 m | -455.3 m | -547.5 m | -659.8 m | -751.2 m | -366.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | -383.5 m | -696.2 m | -1.4 bn | -661.8 m | -1.2 bn | -992.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Dividends paid | 71.0 m | 92.4 m | 134.5 m | 175.1 m | 223.6 m | 235.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 364.1 m | 536.5 m | 1.3 bn | 453.6 m | 967.3 m | 730.3 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 61 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 37.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation38
- Returns58
- Quality100
- Balance sheet100
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 63.36 – 331.77 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)63.36 – 94.50 (Mid 75.52)WACC 9.3% · starting FCFF 1.2 bn USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 37.7%
- Peers: EV/EBITDA96.20 – 138.73 (Mid 126.79)6 companies used · median multiple 13.5x · quartiles 10.2x – 14.8xARCB, HTLD, JBHT, KNX, SAIA, ULH
- Peers: P/E181.38 – 331.77 (Mid 198.26)6 companies used · median multiple 35.6x · quartiles 32.6x – 59.6xJBHT, KNX, LSTR, MRTN, SAIA, SNDR
- Dividend discount (DDM)outside the aggregate14.72 – 19.79 (Mid 16.88)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 61/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 27.4% | 100 (vs peers) | 10% |
| Net margin · Quality | 20.1% | 100 (vs peers) | 6% |
| FCF conversion · Quality | 101.0% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -4.2% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | -7.4% | 0 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | -0.2x | 100 (vs peers) | 10% |
| Interest coverage · Balance sheet | 2,228.0x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 2.0x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 32.2x | 75 (vs peers) | 10% |
| EV/EBITDA · Valuation | 19.2x | 0 (vs peers) | 10% |
| FCF yield · Valuation | 3.2% | 40 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 2.1% | 30 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 20.4% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet100/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality100/100 · 3/3 factors with a value
- Returns58/100 · 2/2 factors with a value
- Valuation38/100 · 3/3 factors with a value
Memo
OLD DOMINION FREIGHT LINE, INC. (ODFL). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.5 bn USD in 2025; YoY growth -5.5%; net margin 20.1%; ROE 26.0%; net debt/EBITDA -0.2x.
The estimated value range is 96.20–138.73 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 126.79 USD, the price of 179.39 USD leaves a potential of -29.3% (value / price − 1) and a margin of safety of -41.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 61/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 27.4%
- Net margin: 20.1%
- FCF conversion: 101.0%
- Net debt / EBITDA: -0.2x
- Interest coverage: 2,228.0x
- Current ratio: 2.0x
- P/E (TTM): 32.2x
- Payout ratio (FCF): 20.4%
What contradicts it
- Revenue CAGR 3Y: -4.2%
- EPS CAGR 3Y: -7.4%
- EV/EBITDA: 19.2x
- Shareholder yield (distributions): 2.1%
- The price is above the estimated value range
- The valuation methods diverge
Versus the vertical median
Trucking (No Local) (SIC 4213) · same industry (4-digit SIC) · compared with 12 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ODFLOld Dominion Freight Line, Inc. | 37.0 bn | 32.2 | 26.0% | 20.1% | −5.5% | +27% / −9% |
| JBHTJ.b. Hunt Transport Services, Inc. | 21.2 bn | 31.9 | 18.8% | 5.1% | −0.7% | +31% / +23% |
| KNXKnight-Swift Transportation Holdings Inc. | 10.2 bn | 67.2 | 2.2% | 1.9% | +0.8% | +36% / +16% |
| SAIASaia, Inc. | 9.7 bn | 34.3 | 10.6% | 8.0% | +0.8% | +28% / −7% |
| LSTRLandstar System, Inc. | 5.1 bn | 32.0 | 18.7% | 3.0% | −1.6% | +16% / −12% |
| ARCBArcbest Corporation | 3.1 bn | 109.6 | 2.2% | 0.7% | −4.0% | +117% / +17% |
| WERNWerner Enterprises, Inc. | 1.8 bn | — | -3.3% | -1.4% | −1.8% | +15% / −27% |
| MRTNMarten Transport, Ltd. | 1.0 bn | 74.8 | 1.6% | 1.5% | −8.3% | +21% / −34% |
| ULHUniversal Logistics Holdings, Inc. | 862.8 m | — | -15.1% | -6.0% | −15.6% | +118% / +32% |
| HTLDHeartland Express Inc | 829.0 m | — | -2.8% | -3.0% | −23.1% | +36% / −20% |
| PAMTPamt Corp | 259.3 m | — | -18.9% | -7.1% | −16.3% | +38% / −34% |
| SNDRSchneider National, Inc. | — | 37.0 | 4.6% | 2.4% | +7.3% | +32% / +29% |
| CVLGCovenant Logistics Group, Inc. | — | 237.7 | 0.9% | 0.3% | +2.9% | +70% / +59% |
1- and 3-year price returns: for ODFL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 98.05 Total return -45% · Per year -45% | 174.15 Total return -2% · Per year -2% | 263.41 Total return 48% · Per year 48% |
| 3 years | 79.17 Total return -55% · Per year -23% | 159.68 Total return -9% · Per year -3% | 267.41 Total return 51% · Per year 15% |
| 5 years | 63.93 Total return -62% · Per year -18% | 146.41 Total return -16% · Per year -3% | 271.46 Total return 55% · Per year 9% |
- Exit P/E± 39.92
- Net margin± 27.94
- Annual revenue growth± 25.04
- Annual dilution± 2.35
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (28 Oct 2026 · results).
In brief
Old Dominion Freight Line is one of the largest North American less-than-truckload (LTL) carriers, running an integrated network of service centers and focusing on high-quality service at a fair price. Its relevance now comes from a return to profit growth in the second quarter of 2026, as demand trends improved and revenue rose by 10.4% 3, while physical volumes remain below the prior year.
SWOT
Strengths
Weaknesses
- Revenue and physical volumes fell in 2025 and net income declined, showing sensitivity to the economic cycle 1.
- The company does not hedge diesel price risk, and fuel surcharge recovery lags behind price changes 1.
- The company retains a significant portion of insurance and claims risk, which exposes results to unexpected costs 1.
Opportunities
- A recovery in industrial demand could raise network density and volumes on existing capacity 3.
- Consolidation in the LTL industry could open acquisition opportunities, although the company acknowledges funding limits 1.
- Demand for nationwide carriers and complementary services could favor an expanded offering 1.
Threats
- A slowdown in the domestic economy could reduce volumes and hit profitability through the effect on fixed costs 1.
- Rising costs for equipment, parts and labor could squeeze margins if they cannot be passed on to customers 1.
- Changing regulations on driver safety and emissions could raise operating costs 2.
Risks
- Dependence on the domestic economyhigh
LTL volumes depend on industrial production and the health of the US economy, and a slowdown could reduce revenue and network density 1.
- Diesel fuel priceshigh
The company does not hedge diesel prices, and surcharges may not fully offset increases, especially when prices rise quickly 1.
- Labor costsmedium
Wages and benefits are the largest cost component, and market pressure for drivers and technicians could raise expenses 12.
- Equipment and real estatemedium
Limited supply of new equipment or service center sites could slow growth and raise investment costs 1.
- Insurance and claimsmedium
Large claims or higher premiums could affect results, since the company bears a significant part of the risk 1.
Investment thesis
What would need to be true (bull case)
- Revenue growth in the second quarter of 2026 and the better operating ratio show that pricing management works even with lower volumes 3.
- The service center network and fleet could support higher volumes without large additional investment if demand recovers 13.
- Its leading position in LTL consolidation and service quality could favor long-term market share gains 1.
What would break the thesis
- Physical volumes kept falling in 2026, and revenue growth depends heavily on yield rather than volume 2.
- Labor and depreciation costs are rising, and a slowdown in the economy could quickly compress margins 12.
- Exposure to diesel prices and changing regulations could hurt results if surcharges do not cover the gap 1.
What to watch
- Trend in LTL volumes and tonnage per dayQ3 2026
- Delivery of the roughly 380 million USD capital expenditure plan2026
- Evolution of the operating ratio and labor costsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (28 Oct 2026 · results).
The business
The business model relies on density: more freight through the existing network improves asset utilization and labor productivity, while pricing is managed through yield on each customer account 1. The company says it differentiates itself through faster and more reliable transit times than its main national competitors, supported by its network, team drivers and proprietary technology 1. Its in-house driver training program and union-free structure are, in its view, important to service quality and driver retention 1.
Market context
Trends
Competitive position
The LTL market is highly consolidated, but competition across transportation and logistics overall remains intense and fragmented; ODFL faces regional, inter-regional and national LTL carriers and, to a lesser extent, truckload carriers, small package carriers, airfreight carriers and railroads 1. Some competitors have a broader global network and a wider service range 1.
Third-party logistics providers that choose the mode and carrier are also a competitive force, since they can steer freight to other operators 1. The company says it keeps its edge through better transit times and wider geographic coverage than many regional rivals 1.
- XPO, Inc.XPO
Nationwide LTL carrier, cited within the category of national competitors, though the sources give no figures for it.
- Saia, Inc.
Regional and inter-regional LTL carrier competing in the same market segments, cited in the context of regional competition.
- Estes Express Lines
Privately held nationwide LTL carrier, part of the group of the industry's largest operators.
- Truckload carriers and railroads
Truckload and rail operators that compete for certain freight volumes depending on capacity and price.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Old Dominion pulls forward 4.9% GRI as LTL carriers accelerate rate hikesYahoo Finance — News · 21 Sept 2026 · EN
- How Is Old Dominion Freight's Stock Performance Compared to Other Industrial StocksYahoo Finance — News · 10 Sept 2026 · EN
- Old Dominion’s August: Some good, some OKYahoo Finance — News · 03 Sept 2026 · EN
The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Current report22 Oct 2026Other events · Financial statements and exhibits
- Current report22 Sept 2026Departure or appointment of officers
- Current report03 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report23 Jul 2026Other events · Financial statements and exhibits
- Current report03 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report21 May 2026Shareholder vote · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Old Dominion Freight Line, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Old Dominion Freight Line, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Old Dominion Freight Line, Inc. · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.