Intrinsic value of Old Dominion Freight Line - ODFL

Previous Close

$144.60

  Intrinsic Value

$38.36

stock screener

  Rating & Target

str. sell

-73%

Previous close

$144.60

 
Intrinsic value

$38.36

 
Up/down potential

-73%

 
Rating

str. sell

*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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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
  11.50
  10.85
  10.27
  9.74
  9.26
  8.84
  8.45
  8.11
  7.80
  7.52
  7.27
  7.04
  6.84
  6.65
  6.49
  6.34
  6.20
  6.08
  5.98
  5.88
  5.79
  5.71
  5.64
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
Revenue, $m
  2,992
  3,336
  3,698
  4,078
  4,475
  4,889
  5,321
  5,771
  6,239
  6,726
  7,232
  7,757
  8,303
  8,871
  9,461
  10,075
  10,713
  11,378
  12,070
  12,791
  13,543
  14,327
  15,146
  16,000
  16,892
  17,824
  18,798
  19,817
  20,883
  21,998
  23,166
Variable operating expenses, $m
 
  2,779
  3,080
  3,396
  3,727
  4,072
  4,431
  4,806
  5,195
  5,600
  6,021
  6,457
  6,911
  7,384
  7,875
  8,386
  8,917
  9,470
  10,047
  10,647
  11,273
  11,926
  12,607
  13,318
  14,060
  14,836
  15,647
  16,495
  17,382
  18,311
  19,282
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
  2,779
  3,080
  3,396
  3,727
  4,072
  4,431
  4,806
  5,195
  5,600
  6,021
  6,457
  6,911
  7,384
  7,875
  8,386
  8,917
  9,470
  10,047
  10,647
  11,273
  11,926
  12,607
  13,318
  14,060
  14,836
  15,647
  16,495
  17,382
  18,311
  19,282
Operating income, $m
  484
  557
  618
  682
  748
  818
  890
  966
  1,044
  1,126
  1,210
  1,300
  1,392
  1,487
  1,586
  1,689
  1,796
  1,907
  2,023
  2,144
  2,270
  2,402
  2,539
  2,682
  2,832
  2,988
  3,151
  3,322
  3,501
  3,688
  3,883
EBITDA, $m
  674
  770
  853
  941
  1,032
  1,128
  1,228
  1,332
  1,440
  1,552
  1,669
  1,790
  1,916
  2,047
  2,183
  2,325
  2,472
  2,625
  2,785
  2,951
  3,125
  3,306
  3,495
  3,692
  3,898
  4,113
  4,337
  4,573
  4,818
  5,076
  5,345
Interest expense (income), $m
  6
  5
  10
  15
  21
  26
  32
  38
  45
  51
  58
  65
  73
  80
  88
  97
  105
  114
  124
  134
  144
  154
  166
  177
  189
  202
  215
  229
  243
  258
  274
Earnings before tax, $m
  478
  552
  608
  666
  728
  791
  858
  927
  999
  1,074
  1,152
  1,235
  1,319
  1,407
  1,498
  1,592
  1,690
  1,793
  1,899
  2,011
  2,126
  2,247
  2,373
  2,505
  2,642
  2,786
  2,936
  3,093
  3,258
  3,429
  3,609
Tax expense, $m
  182
  149
  164
  180
  196
  214
  232
  250
  270
  290
  311
  333
  356
  380
  404
  430
  456
  484
  513
  543
  574
  607
  641
  676
  713
  752
  793
  835
  880
  926
  975
Net income, $m
  296
  403
  444
  486
  531
  578
  626
  677
  730
  784
  841
  902
  963
  1,027
  1,093
  1,162
  1,234
  1,309
  1,387
  1,468
  1,552
  1,641
  1,733
  1,829
  1,929
  2,034
  2,143
  2,258
  2,378
  2,503
  2,635

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
  2,995
  3,320
  3,660
  4,017
  4,389
  4,777
  5,181
  5,601
  6,038
  6,492
  6,963
  7,453
  7,963
  8,493
  9,044
  9,617
  10,213
  10,835
  11,482
  12,157
  12,861
  13,596
  14,362
  15,163
  16,000
  16,875
  17,789
  18,746
  19,747
  20,795
Adjusted assets (=assets-cash), $m
  2,686
  2,995
  3,320
  3,660
  4,017
  4,389
  4,777
  5,181
  5,601
  6,038
  6,492
  6,963
  7,453
  7,963
  8,493
  9,044
  9,617
  10,213
  10,835
  11,482
  12,157
  12,861
  13,596
  14,362
  15,163
  16,000
  16,875
  17,789
  18,746
  19,747
  20,795
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
  2,379
  2,637
  2,907
  3,190
  3,486
  3,794
  4,115
  4,449
  4,796
  5,156
  5,531
  5,920
  6,325
  6,746
  7,183
  7,638
  8,112
  8,606
  9,120
  9,656
  10,215
  10,799
  11,408
  12,044
  12,709
  13,403
  14,130
  14,890
  15,685
  16,517
Working capital, $m
  94
  93
  104
  114
  125
  137
  149
  162
  175
  188
  202
  217
  232
  248
  265
  282
  300
  319
  338
  358
  379
  401
  424
  448
  473
  499
  526
  555
  585
  616
  649
Total debt, $m
  105
  203
  306
  413
  525
  643
  765
  892
  1,024
  1,162
  1,305
  1,453
  1,608
  1,768
  1,935
  2,109
  2,289
  2,477
  2,673
  2,877
  3,090
  3,311
  3,543
  3,784
  4,036
  4,300
  4,576
  4,864
  5,165
  5,480
  5,810
Total liabilities, $m
  845
  943
  1,046
  1,153
  1,265
  1,383
  1,505
  1,632
  1,764
  1,902
  2,045
  2,193
  2,348
  2,508
  2,675
  2,849
  3,029
  3,217
  3,413
  3,617
  3,830
  4,051
  4,283
  4,524
  4,776
  5,040
  5,316
  5,604
  5,905
  6,220
  6,550
Total equity, $m
  1,851
  2,051
  2,274
  2,507
  2,752
  3,006
  3,272
  3,549
  3,837
  4,136
  4,447
  4,770
  5,106
  5,455
  5,817
  6,195
  6,587
  6,996
  7,422
  7,865
  8,328
  8,810
  9,313
  9,838
  10,387
  10,960
  11,559
  12,186
  12,841
  13,527
  14,245
Total liabilities and equity, $m
  2,696
  2,994
  3,320
  3,660
  4,017
  4,389
  4,777
  5,181
  5,601
  6,038
  6,492
  6,963
  7,454
  7,963
  8,492
  9,044
  9,616
  10,213
  10,835
  11,482
  12,158
  12,861
  13,596
  14,362
  15,163
  16,000
  16,875
  17,790
  18,746
  19,747
  20,795
Debt-to-equity ratio
  0.057
  0.100
  0.130
  0.160
  0.190
  0.210
  0.230
  0.250
  0.270
  0.280
  0.290
  0.300
  0.310
  0.320
  0.330
  0.340
  0.350
  0.350
  0.360
  0.370
  0.370
  0.380
  0.380
  0.380
  0.390
  0.390
  0.400
  0.400
  0.400
  0.410
  0.410
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
  403
  444
  486
  531
  578
  626
  677
  730
  784
  841
  902
  963
  1,027
  1,093
  1,162
  1,234
  1,309
  1,387
  1,468
  1,552
  1,641
  1,733
  1,829
  1,929
  2,034
  2,143
  2,258
  2,378
  2,503
  2,635
Depreciation, amort., depletion, $m
  190
  212
  235
  259
  284
  310
  338
  366
  396
  426
  458
  489
  524
  560
  597
  636
  676
  718
  762
  807
  855
  904
  956
  1,010
  1,066
  1,125
  1,186
  1,250
  1,318
  1,388
  1,462
Funds from operations, $m
  610
  615
  679
  746
  815
  888
  964
  1,043
  1,125
  1,211
  1,299
  1,391
  1,487
  1,587
  1,690
  1,798
  1,910
  2,027
  2,148
  2,275
  2,407
  2,545
  2,688
  2,838
  2,995
  3,159
  3,330
  3,509
  3,696
  3,892
  4,097
Change in working capital, $m
  44
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  31
  33
Cash from operations, $m
  566
  606
  669
  735
  804
  877
  952
  1,030
  1,112
  1,197
  1,285
  1,376
  1,472
  1,571
  1,674
  1,781
  1,892
  2,008
  2,129
  2,255
  2,386
  2,523
  2,665
  2,814
  2,970
  3,132
  3,302
  3,480
  3,666
  3,860
  4,064
Maintenance CAPEX, $m
  0
  -189
  -210
  -233
  -257
  -282
  -309
  -336
  -364
  -394
  -424
  -456
  -489
  -524
  -560
  -597
  -636
  -676
  -718
  -762
  -807
  -855
  -904
  -956
  -1,010
  -1,066
  -1,125
  -1,186
  -1,250
  -1,318
  -1,388
New CAPEX, $m
  -418
  -246
  -258
  -271
  -283
  -296
  -308
  -321
  -334
  -347
  -361
  -375
  -389
  -405
  -421
  -438
  -455
  -474
  -494
  -514
  -536
  -559
  -583
  -609
  -636
  -665
  -695
  -726
  -760
  -795
  -832
Cash from investing activities, $m
  -407
  -435
  -468
  -504
  -540
  -578
  -617
  -657
  -698
  -741
  -785
  -831
  -878
  -929
  -981
  -1,035
  -1,091
  -1,150
  -1,212
  -1,276
  -1,343
  -1,414
  -1,487
  -1,565
  -1,646
  -1,731
  -1,820
  -1,912
  -2,010
  -2,113
  -2,220
Free cash flow, $m
  159
  171
  200
  231
  264
  299
  335
  374
  414
  456
  500
  545
  593
  642
  693
  746
  801
  858
  917
  979
  1,043
  1,109
  1,178
  1,250
  1,324
  1,402
  1,483
  1,567
  1,656
  1,747
  1,844
Issuance/(repayment) of debt, $m
  -29
  98
  102
  107
  112
  117
  122
  127
  132
  138
  143
  149
  154
  160
  167
  174
  181
  188
  196
  204
  213
  222
  231
  242
  252
  264
  276
  288
  301
  315
  330
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
  98
  102
  107
  112
  117
  122
  127
  132
  138
  143
  149
  154
  160
  167
  174
  181
  188
  196
  204
  213
  222
  231
  242
  252
  264
  276
  288
  301
  315
  330
Total cash flow (excl. dividends), $m
  -1
  269
  303
  338
  376
  416
  458
  501
  547
  594
  643
  694
  747
  803
  860
  920
  982
  1,046
  1,113
  1,183
  1,255
  1,331
  1,409
  1,491
  1,576
  1,666
  1,758
  1,856
  1,957
  2,063
  2,174
Retained Cash Flow (-), $m
  -166
  -210
  -223
  -233
  -244
  -255
  -266
  -277
  -288
  -299
  -311
  -323
  -336
  -349
  -363
  -377
  -393
  -409
  -426
  -444
  -462
  -482
  -503
  -525
  -549
  -573
  -599
  -627
  -655
  -686
  -718
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
 
  69
  80
  105
  132
  161
  192
  224
  259
  295
  332
  371
  411
  454
  497
  542
  589
  637
  687
  739
  793
  848
  906
  966
  1,028
  1,092
  1,159
  1,229
  1,302
  1,377
  1,456
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
 
  66
  73
  91
  109
  125
  139
  152
  162
  169
  174
  176
  176
  172
  167
  159
  150
  139
  127
  114
  101
  88
  75
  63
  52
  42
  34
  26
  20
  15
  11
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. is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company's LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America. In addition to its LTL services, the Company offers a range of other value-added services that include container drayage, truckload brokerage, supply chain consulting and warehousing. As of December 31, 2016, the Company operated 226 service center locations, of which it owned 182 and leased 44. As of December 31, 2016, its network included 10 breakbulk facilities located in Rialto, California; Atlanta, Georgia; Columbus, Ohio; Indianapolis, Indiana; Greensboro, North Carolina; Harrisburg, Pennsylvania; Memphis and Morristown, Tennessee; Dallas, Texas, and Salt Lake City, Utah. As of December 31, 2016, the Company owned 7,994 tractors.

FINANCIAL RATIOS  of  Old Dominion Freight Line (ODFL)

Valuation Ratios
P/E Ratio 40.3
Price to Sales 4
Price to Book 6.4
Price to Tangible Book
Price to Cash Flow 21.1
Price to Free Cash Flow 80.5
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 11.5% 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 83.162 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 $12.0 billion.

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COMPANY NEWS

▶ What Sank CSXs Intermodal Revenues in 4Q17?   [Jan-18-18 12:10PM  Market Realist]
▶ Johnson, Thompson help WKU hold off Old Dominion 75-68   [Jan-11-18 11:15PM  Associated Press]
▶ JB Hunt Transport Services Tests Buy Point On Weak Q4 Earnings Guidance   [Dec-28-17 04:07PM  Investor's Business Daily]
▶ How Analysts Look at FedEx after Fiscal 2Q18 Earnings   [Dec-26-17 09:01AM  Market Realist]
▶ A Look at FedExs Revenues in Fiscal 2Q18   [Dec-22-17 10:35AM  Market Realist]
▶ How FedEx Is Valued among Peers before Fiscal 2Q18 Earnings   [Dec-18-17 09:01AM  Market Realist]
▶ Old Dominion tops Street 3Q forecasts   [07:49AM  Associated Press]
▶ Freightliner, Old Dominion mark 26-year partnership with Rowan ceremony   [12:05PM  American City Business Journals]
▶ How the Market Views Less-than-Truckload Carriers   [Oct-03-17 07:37AM  Market Realist]
▶ Do SAIAs 3Q17 Operating Metrics Support LTL Trend?   [Oct-02-17 09:08AM  Market Realist]
▶ Old Dominion Fght Line Sees Its Composite Rating Rise To 96   [03:00AM  Investor's Business Daily]
▶ As Harvey gained fury, Home Depot raced to respond   [Aug-31-17 06:59PM  Reuters]
▶ Songwriting is most important to Old Dominion   [04:57PM  Associated Press Videos]
▶ 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]
Financial statements of ODFL
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