Intrinsic value of Old Dominion Freight Line - ODFL

Previous Close

$94.79

  Intrinsic Value

$42.62

stock screener

  Rating & Target

str. sell

-55%

  Value-price divergence*

-36%

Previous close

$94.79

 
Intrinsic value

$42.62

 
Up/down potential

-55%

 
Rating

str. sell

 
Value-price divergence*

-36%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ODFL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  0.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
Revenue, $m
  2,992
  3,186
  3,389
  3,599
  3,819
  4,047
  4,286
  4,534
  4,793
  5,064
  5,346
  5,642
  5,950
  6,273
  6,611
  6,964
  7,334
  7,721
  8,126
  8,551
  8,995
  9,462
  9,950
  10,462
  10,999
  11,562
  12,153
  12,773
  13,422
  14,104
  14,819
Variable operating expenses, $m
 
  2,654
  2,823
  2,998
  3,181
  3,371
  3,569
  3,776
  3,992
  4,217
  4,452
  4,696
  4,953
  5,221
  5,502
  5,796
  6,104
  6,426
  6,764
  7,117
  7,487
  7,875
  8,282
  8,708
  9,155
  9,624
  10,116
  10,631
  11,172
  11,740
  12,335
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,508
  2,654
  2,823
  2,998
  3,181
  3,371
  3,569
  3,776
  3,992
  4,217
  4,452
  4,696
  4,953
  5,221
  5,502
  5,796
  6,104
  6,426
  6,764
  7,117
  7,487
  7,875
  8,282
  8,708
  9,155
  9,624
  10,116
  10,631
  11,172
  11,740
  12,335
Operating income, $m
  484
  532
  566
  601
  638
  677
  717
  758
  802
  847
  894
  946
  997
  1,052
  1,108
  1,167
  1,229
  1,294
  1,362
  1,433
  1,508
  1,586
  1,668
  1,754
  1,844
  1,938
  2,037
  2,141
  2,250
  2,364
  2,484
EBITDA, $m
  674
  735
  782
  831
  881
  934
  989
  1,046
  1,106
  1,168
  1,234
  1,302
  1,373
  1,447
  1,525
  1,607
  1,692
  1,781
  1,875
  1,973
  2,076
  2,183
  2,296
  2,414
  2,538
  2,668
  2,804
  2,947
  3,097
  3,254
  3,419
Interest expense (income), $m
  6
  5
  8
  11
  14
  17
  20
  24
  27
  31
  35
  39
  43
  47
  52
  56
  61
  67
  72
  78
  84
  90
  97
  104
  111
  119
  126
  135
  144
  153
  162
Earnings before tax, $m
  478
  527
  558
  591
  624
  660
  696
  735
  775
  816
  860
  907
  955
  1,004
  1,056
  1,111
  1,168
  1,228
  1,290
  1,355
  1,424
  1,496
  1,571
  1,650
  1,733
  1,820
  1,911
  2,006
  2,106
  2,212
  2,322
Tax expense, $m
  182
  142
  151
  159
  169
  178
  188
  198
  209
  220
  232
  245
  258
  271
  285
  300
  315
  331
  348
  366
  384
  404
  424
  446
  468
  491
  516
  542
  569
  597
  627
Net income, $m
  296
  385
  407
  431
  456
  481
  508
  536
  565
  596
  628
  662
  697
  733
  771
  811
  853
  896
  942
  989
  1,040
  1,092
  1,147
  1,205
  1,265
  1,328
  1,395
  1,465
  1,538
  1,614
  1,695

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,696
  2,860
  3,042
  3,231
  3,428
  3,633
  3,847
  4,070
  4,303
  4,546
  4,799
  5,064
  5,341
  5,631
  5,934
  6,251
  6,583
  6,930
  7,294
  7,676
  8,075
  8,493
  8,932
  9,392
  9,874
  10,379
  10,909
  11,465
  12,049
  12,661
  13,303
Adjusted assets (=assets-cash), $m
  2,686
  2,860
  3,042
  3,231
  3,428
  3,633
  3,847
  4,070
  4,303
  4,546
  4,799
  5,064
  5,341
  5,631
  5,934
  6,251
  6,583
  6,930
  7,294
  7,676
  8,075
  8,493
  8,932
  9,392
  9,874
  10,379
  10,909
  11,465
  12,049
  12,661
  13,303
Revenue / Adjusted assets
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
  1.114
Average production assets, $m
  2,133
  2,272
  2,416
  2,566
  2,723
  2,886
  3,056
  3,233
  3,418
  3,610
  3,812
  4,023
  4,243
  4,473
  4,713
  4,965
  5,229
  5,505
  5,794
  6,097
  6,414
  6,746
  7,094
  7,460
  7,843
  8,244
  8,665
  9,107
  9,570
  10,056
  10,566
Working capital, $m
  94
  89
  95
  101
  107
  113
  120
  127
  134
  142
  150
  158
  167
  176
  185
  195
  205
  216
  228
  239
  252
  265
  279
  293
  308
  324
  340
  358
  376
  395
  415
Total debt, $m
  105
  161
  218
  278
  340
  404
  472
  542
  615
  692
  772
  855
  943
  1,034
  1,129
  1,229
  1,334
  1,443
  1,558
  1,678
  1,804
  1,935
  2,074
  2,218
  2,370
  2,529
  2,696
  2,872
  3,055
  3,248
  3,450
Total liabilities, $m
  845
  901
  958
  1,018
  1,080
  1,144
  1,212
  1,282
  1,355
  1,432
  1,512
  1,595
  1,683
  1,774
  1,869
  1,969
  2,074
  2,183
  2,298
  2,418
  2,544
  2,675
  2,814
  2,958
  3,110
  3,269
  3,436
  3,612
  3,795
  3,988
  4,190
Total equity, $m
  1,851
  1,959
  2,084
  2,213
  2,348
  2,489
  2,635
  2,788
  2,947
  3,114
  3,288
  3,469
  3,659
  3,857
  4,065
  4,282
  4,509
  4,747
  4,997
  5,258
  5,531
  5,818
  6,118
  6,433
  6,764
  7,110
  7,473
  7,854
  8,253
  8,673
  9,112
Total liabilities and equity, $m
  2,696
  2,860
  3,042
  3,231
  3,428
  3,633
  3,847
  4,070
  4,302
  4,546
  4,800
  5,064
  5,342
  5,631
  5,934
  6,251
  6,583
  6,930
  7,295
  7,676
  8,075
  8,493
  8,932
  9,391
  9,874
  10,379
  10,909
  11,466
  12,048
  12,661
  13,302
Debt-to-equity ratio
  0.057
  0.080
  0.100
  0.130
  0.140
  0.160
  0.180
  0.190
  0.210
  0.220
  0.230
  0.250
  0.260
  0.270
  0.280
  0.290
  0.300
  0.300
  0.310
  0.320
  0.330
  0.330
  0.340
  0.340
  0.350
  0.360
  0.360
  0.370
  0.370
  0.370
  0.380
Adjusted equity ratio
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685
  0.685

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  296
  385
  407
  431
  456
  481
  508
  536
  565
  596
  628
  662
  697
  733
  771
  811
  853
  896
  942
  989
  1,040
  1,092
  1,147
  1,205
  1,265
  1,328
  1,395
  1,465
  1,538
  1,614
  1,695
Depreciation, amort., depletion, $m
  190
  203
  216
  229
  243
  257
  272
  288
  304
  321
  339
  356
  375
  396
  417
  439
  463
  487
  513
  540
  568
  597
  628
  660
  694
  730
  767
  806
  847
  890
  935
Funds from operations, $m
  610
  588
  623
  660
  699
  739
  781
  824
  870
  917
  967
  1,018
  1,072
  1,129
  1,188
  1,250
  1,315
  1,383
  1,454
  1,529
  1,607
  1,689
  1,775
  1,865
  1,959
  2,058
  2,162
  2,271
  2,385
  2,504
  2,630
Change in working capital, $m
  44
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  17
  18
  19
  20
Cash from operations, $m
  566
  582
  617
  654
  693
  732
  774
  817
  862
  910
  959
  1,010
  1,064
  1,120
  1,179
  1,240
  1,305
  1,372
  1,443
  1,517
  1,595
  1,676
  1,761
  1,850
  1,944
  2,042
  2,145
  2,253
  2,366
  2,485
  2,610
Maintenance CAPEX, $m
  0
  -189
  -201
  -214
  -227
  -241
  -255
  -270
  -286
  -302
  -320
  -337
  -356
  -375
  -396
  -417
  -439
  -463
  -487
  -513
  -540
  -568
  -597
  -628
  -660
  -694
  -730
  -767
  -806
  -847
  -890
New CAPEX, $m
  -418
  -139
  -144
  -150
  -156
  -163
  -170
  -177
  -185
  -193
  -202
  -211
  -220
  -230
  -241
  -252
  -264
  -276
  -289
  -303
  -317
  -332
  -348
  -365
  -383
  -402
  -421
  -442
  -463
  -486
  -510
Cash from investing activities, $m
  -407
  -328
  -345
  -364
  -383
  -404
  -425
  -447
  -471
  -495
  -522
  -548
  -576
  -605
  -637
  -669
  -703
  -739
  -776
  -816
  -857
  -900
  -945
  -993
  -1,043
  -1,096
  -1,151
  -1,209
  -1,269
  -1,333
  -1,400
Free cash flow, $m
  159
  254
  272
  290
  309
  328
  349
  370
  392
  414
  438
  462
  488
  514
  542
  572
  602
  634
  667
  702
  738
  776
  816
  857
  901
  947
  995
  1,045
  1,097
  1,152
  1,210
Issuance/(repayment) of debt, $m
  -29
  56
  57
  60
  62
  65
  67
  70
  73
  77
  80
  83
  87
  91
  95
  100
  105
  109
  115
  120
  126
  132
  138
  145
  152
  159
  167
  175
  184
  193
  202
Issuance/(repurchase) of shares, $m
  -130
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -159
  56
  57
  60
  62
  65
  67
  70
  73
  77
  80
  83
  87
  91
  95
  100
  105
  109
  115
  120
  126
  132
  138
  145
  152
  159
  167
  175
  184
  193
  202
Total cash flow (excl. dividends), $m
  -1
  310
  329
  350
  371
  393
  416
  440
  465
  491
  518
  546
  575
  606
  638
  671
  706
  743
  782
  822
  864
  908
  954
  1,002
  1,053
  1,106
  1,162
  1,220
  1,281
  1,345
  1,412
Retained Cash Flow (-), $m
  -166
  -118
  -124
  -130
  -135
  -141
  -146
  -153
  -159
  -166
  -174
  -182
  -190
  -198
  -208
  -217
  -227
  -238
  -249
  -261
  -274
  -287
  -300
  -315
  -330
  -346
  -363
  -381
  -400
  -419
  -440
Prev. year cash balance distribution, $m
 
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  202
  205
  220
  236
  253
  270
  287
  305
  324
  344
  364
  385
  407
  430
  454
  479
  505
  532
  561
  590
  621
  653
  687
  723
  760
  798
  839
  881
  926
  973
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  193
  188
  192
  194
  196
  196
  194
  191
  186
  180
  173
  164
  155
  144
  133
  122
  110
  98
  86
  75
  64
  54
  45
  37
  30
  23
  18
  14
  10
  7
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing. As of December 31, 2015, it owned 7,688 tractors, as well as operated 225 service and 38 maintenance centers. Old Dominion Freight Line, Inc. was founded in 1934 and is based in Thomasville, North Carolina.

FINANCIAL RATIOS  of  Old Dominion Freight Line (ODFL)

Valuation Ratios
P/E Ratio 26.4
Price to Sales 2.6
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 13.8
Price to Free Cash Flow 52.8
Growth Rates
Sales Growth Rate 0.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -9.5%
Cap. Spend. - 3 Yr. Gr. Rate 7.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 5.7%
Total Debt to Equity 5.7%
Interest Coverage 81
Management Effectiveness
Return On Assets 11.6%
Ret/ On Assets - 3 Yr. Avg. 12.6%
Return On Total Capital 15.7%
Ret/ On T. Cap. - 3 Yr. Avg. 16.9%
Return On Equity 16.7%
Return On Equity - 3 Yr. Avg. 18.5%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 89.2%
Gross Margin - 3 Yr. Avg. 87.3%
EBITDA Margin 22.5%
EBITDA Margin - 3 Yr. Avg. 22%
Operating Margin 16.2%
Oper. Margin - 3 Yr. Avg. 16.3%
Pre-Tax Margin 16%
Pre-Tax Margin - 3 Yr. Avg. 16%
Net Profit Margin 9.9%
Net Profit Margin - 3 Yr. Avg. 9.9%
Effective Tax Rate 38.1%
Eff/ Tax Rate - 3 Yr. Avg. 38%
Payout Ratio 0%

ODFL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ODFL stock intrinsic value calculation we used $2992 million for the last fiscal year's total revenue generated by Old Dominion Freight Line. The default revenue input number comes from 2016 income statement of Old Dominion Freight Line. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ODFL stock valuation model: a) initial revenue growth rate of 6.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ODFL is calculated based on our internal credit rating of Old Dominion Freight Line, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Old Dominion Freight Line.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ODFL stock the variable cost ratio is equal to 83.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ODFL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5% for Old Dominion Freight Line.

Corporate tax rate of 27% is the nominal tax rate for Old Dominion Freight Line. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ODFL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ODFL are equal to 71.3%.

Life of production assets of 11.3 years is the average useful life of capital assets used in Old Dominion Freight Line operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ODFL is equal to 2.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1851 million for Old Dominion Freight Line - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 81.853 million for Old Dominion Freight Line is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Old Dominion Freight Line at the current share price and the inputted number of shares is $7.8 billion.

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COMPANY NEWS

▶ YRC Worldwide Missed 2Q17 Earnings: Stock Rose   [Aug-08-17 03:47PM  Market Realist]
▶ Old Dominion tops Street 2Q forecasts   [Jul-28-17 01:06AM  Associated Press]
▶ Trucker Stocks Shake Off J.B. Hunt Shortfall   [Jul-17-17 12:35PM  Investopedia]
▶ The 3 Best Dividend Stocks In Freight   [Jul-05-17 11:20AM  Motley Fool]
▶ Chart in Focus: ODFLs May 2017 Operating Metrics   [Jun-30-17 10:39AM  Market Realist]
▶ PACCAR Stock Upgraded: What You Need to Know   [Jun-06-17 02:23PM  Motley Fool]
▶ Old Dominion Freight Line: The Truck Could Be Backing Up   [May-26-17 02:18PM  TheStreet.com]
▶ Opening Bell, May 2, 2017   [May-02-17 09:29AM  CNBC Videos]
▶ Today's Bell Ringer, May 2, 2017   [09:14AM  CNBC Videos]
▶ Old Dominion beats Street 1Q forecasts   [Apr-27-17 07:20AM  Associated Press]
▶ Old Dominion Signs Sponsorship Deal With MLB   [10:44AM  TheStreet.com]
▶ How Canadian Pacifics Intermodal Traffic Trended   [Mar-20-17 05:00PM  Market Realist]
▶ Old Dominion misses 4Q profit forecasts   [07:32AM  Associated Press]
Stock chart of ODFL Financial statements of ODFL
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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