Latest Ratios: P/E Ratio 29.5x · EV/EBITDA 18.0x · ROE 23.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $34.3B | $32.9B | $38.2B | $44.6B | $32.1B | $41.7B | $23.1B | $15.3B | $10.1B | $10.8B | $7.1B |
| Enterprise Value | $34.3B | $32.9B | $38.2B | $44.3B | $32.0B | $41.4B | $22.8B | $14.9B | $10.0B | $10.8B | $7.2B |
| P/E Ratio → | 29.54 | 32.46 | 32.19 | 36.00 | 23.30 | 40.27 | 34.36 | 24.81 | 16.73 | 23.32 | 24.03 |
| P/S Ratio | 5.93 | 5.99 | 6.57 | 7.61 | 5.13 | 7.94 | 5.76 | 3.71 | 2.50 | 3.23 | 2.38 |
| P/B Ratio | 8.03 | 7.63 | 9.00 | 10.48 | 8.78 | 11.34 | 6.95 | 4.95 | 3.78 | 4.76 | 3.85 |
| P/FCF | 29.22 | 34.46 | 43.01 | 54.97 | 35.02 | 62.97 | 32.67 | 30.24 | 32.48 | 70.32 | 48.32 |
| P/OCF | 25.03 | 24.02 | 23.01 | 28.44 | 18.97 | 34.40 | 24.79 | 15.51 | 11.25 | 20.21 | 12.61 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.99 | 6.58 | 7.55 | 5.11 | 7.87 | 5.68 | 3.63 | 2.47 | 3.22 | 2.42 |
| EV / EBITDA | 18.00 | 19.08 | 20.25 | 22.53 | 15.12 | 25.04 | 19.54 | 13.90 | 9.53 | 13.83 | 10.73 |
| EV / EBIT | 25.22 | 24.19 | 24.55 | 26.86 | 17.37 | 29.75 | 25.25 | 18.08 | 12.22 | 18.77 | 14.94 |
| EV / FCF | — | 34.48 | 43.07 | 54.53 | 34.92 | 62.42 | 32.24 | 29.53 | 32.01 | 70.11 | 48.97 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.2% | 32.2% | 34.8% | 35.3% | 36.0% | 33.8% | 30.6% | 28.5% | 28.3% | 26.1% | 24.9% |
| Operating Margin | 24.8% | 24.8% | 26.6% | 28.0% | 29.4% | 26.5% | 22.6% | 19.9% | 20.2% | 17.1% | 16.2% |
| Net Profit Margin | 18.6% | 18.6% | 20.4% | 21.1% | 22.0% | 19.7% | 16.8% | 15.0% | 15.0% | 13.8% | 9.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.9% | 23.9% | 27.9% | 31.3% | 37.6% | 29.5% | 21.0% | 21.4% | 24.4% | 22.5% | 16.7% |
| ROA | 18.5% | 18.5% | 21.6% | 23.9% | 28.5% | 22.5% | 16.1% | 16.3% | 18.3% | 16.1% | 11.5% |
| ROIC | 23.6% | 23.6% | 28.2% | 32.9% | 40.1% | 32.9% | 23.7% | 23.4% | 25.6% | 20.6% | 19.3% |
| ROCE | 27.1% | 27.1% | 31.1% | 35.4% | 42.5% | 33.3% | 23.8% | 24.0% | 27.7% | 22.5% | 21.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.02 | 0.03 | 0.03 | 0.03 | 0.01 | 0.02 | 0.04 | 0.06 |
| Debt / EBITDA | 0.08 | 0.08 | 0.09 | 0.04 | 0.05 | 0.06 | 0.09 | 0.04 | 0.04 | 0.12 | 0.16 |
| Net Debt / Equity | — | 0.00 | 0.01 | -0.08 | -0.02 | -0.10 | -0.09 | -0.12 | -0.05 | -0.01 | 0.05 |
| Net Debt / EBITDA | 0.01 | 0.01 | 0.03 | -0.18 | -0.04 | -0.22 | -0.26 | -0.33 | -0.14 | -0.04 | 0.14 |
| Debt / FCF | — | 0.02 | 0.07 | -0.44 | -0.09 | -0.55 | -0.43 | -0.71 | -0.47 | -0.21 | 0.64 |
| Interest Coverage | 4600.01 | 4600.01 | 7348.16 | 3552.24 | 1179.09 | 804.95 | 325.00 | 2186.54 | 4323.02 | 267.36 | 111.69 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.44 | 1.44 | 1.33 | 2.10 | 1.76 | 2.98 | 3.33 | 2.37 | 1.98 | 1.67 | 1.33 |
| Quick Ratio | 1.44 | 1.44 | 1.33 | 2.10 | 1.76 | 2.98 | 3.33 | 2.37 | 1.98 | 1.67 | 1.33 |
| Cash Ratio | 0.25 | 0.25 | 0.20 | 0.80 | 0.44 | 1.54 | 1.96 | 1.10 | 0.53 | 0.36 | 0.04 |
| Asset Turnover | — | 0.98 | 1.06 | 1.06 | 1.29 | 1.09 | 0.92 | 1.03 | 1.14 | 1.09 | 1.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 32.83 | 33.12 | 38.29 | 35.28 | 41.60 | 41.29 | 36.26 | 42.27 | 45.19 | 40.81 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.7% | 0.6% | 0.4% | 0.4% | 0.2% | 0.3% | 0.4% | 0.4% | 0.3% | — |
| Payout Ratio | 23.0% | 23.0% | 18.9% | 14.1% | 9.8% | 8.9% | 10.6% | 8.9% | 7.0% | 7.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 3.1% | 3.1% | 2.8% | 4.3% | 2.5% | 2.9% | 4.0% | 6.0% | 4.3% | 4.2% |
| FCF Yield | 3.4% | 2.9% | 2.3% | 1.8% | 2.9% | 1.6% | 3.1% | 3.3% | 3.1% | 1.4% | 2.1% |
| Buyback Yield | 2.1% | 2.2% | 2.5% | 1.0% | 4.0% | 1.3% | 1.6% | 1.6% | 1.6% | 0.1% | 1.8% |
| Total Shareholder Yield | 2.8% | 2.9% | 3.1% | 1.4% | 4.4% | 1.5% | 1.9% | 1.9% | 2.0% | 0.4% | 1.8% |
| Shares Outstanding | — | $210M | $216M | $220M | $226M | $233M | $237M | $241M | $246M | $247M | $249M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ODFL stock.
Old Dominion Freight Line, Inc.'s current P/E ratio is 29.5x. The historical average is 20.3x. This places it at the 80th percentile of its historical range.
Old Dominion Freight Line, Inc.'s current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
Old Dominion Freight Line, Inc.'s return on equity (ROE) is 23.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 18.0%.
Based on historical data, Old Dominion Freight Line, Inc. is trading at a P/E of 29.5x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Old Dominion Freight Line, Inc.'s current dividend yield is 0.68% with a payout ratio of 23.0%.
Old Dominion Freight Line, Inc. has 32.2% gross margin and 24.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Old Dominion Freight Line, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Cyclical freight demand softness
Metrics are mathematically derived from official filings.
Premium Multiples Pricing In Recovery
According to reported figures, ODFL trades at 29.5x trailing earnings and 18.0x EV/EBITDA, a premium to most LTL and trucking peers that leaves little room for a stalled freight recovery.
Against a peer group where SAIA trades at 31.4x and XPO at 41.5x on earnings, ODFL's multiple is not an outlier, but the 2.64 PEG indicates the market is paying for growth that trailing revenue of roughly -5.5% does not yet demonstrate. The 8.0x price-to-book reflects the value of owned terminal real estate and a durable return profile rather than a near-term earnings step-up. Investors should treat the current multiple as a bet on sustained yield discipline and a volume rebound.
Margins Rebuilding Toward Prior Peaks
As reported in financial statements, ODFL's operating margin climbed from 23.8% in Q1 2026 to 28.5% in Q3 2026, approaching the 27-28% range seen in 2024 and signaling recovering operating leverage.
Gross margin recovered from 27.7% to 34.7% over the same period, suggesting pricing and density are offsetting soft tonnage. Net margin of 21.6% sits well above the peer group, where ArcBest and Werner report margins near or below 2%, which points to a structural cost and service premium rather than a cyclical blip. Whether the current margin is representative depends on whether volume recovers without yield concessions.
Returns Recovering From Cyclical Trough
Based on reported quarterly figures, ODFL's ROIC expanded from 5.6% in Q1 2026 to 8.0% in Q3 2026, still below the 7.9% to 7.3% range of 2024 peak quarters only in the opposite direction, indicating returns are rebuilding but not yet at prior highs.
ROIC remains below peers XPO and TFI at roughly 9-10%, which suggests the asset-heavy terminal base is currently generating lower returns on invested capital than the market-leading benchmark implies. ROE of 7.5% is modest for a business of this quality because the equity base has grown substantially through retained earnings. The trend is improving, but sustained compounding requires margins to hold while the asset base is absorbed by volume.
Negligible Debt Eliminates Refinancing Exposure
According to reported balance sheets, ODFL's debt-to-equity ratio is effectively zero and interest coverage is extremely high, leaving no meaningful refinancing or interest-rate risk within the reported debt base.
Total debt of roughly $20M against equity near $4.7B means the company has no covenant or refinancing pressure in the reported data, in sharp contrast to XPO's 2.53x debt-to-equity. This structural insulation appears deliberate and allows the company to fund capex and buybacks from operating cash flow. The analytical question is less about solvency and more about whether management's conservative stance limits capital deployment during a downturn.
Premium Valuation Meets Fragile Recovery
Based on reported figures, the most commonly misapplied metric here is the trailing P/E, which appears inflated relative to a trailing revenue decline of roughly -5.5% and does not reflect the recovery's early and unconfirmed stage.
Trailing earnings momentum has been driven by a single strong quarter, so a P/E on depressed trailing figures may overstate how cheap or expensive the stock is on normalized earnings. Operating cash flow conversion and free cash flow margin are better gauges of durable earning power for an asset-heavy LTL carrier. Investors should monitor whether volume stabilizes and whether margins hold without relying on fuel surcharge or pricing tailwinds.