Intrinsic value of Old Dominion Freight Line - ODFL

Previous Close

$136.10

  Intrinsic Value

$84.40

stock screener

  Rating & Target

sell

-38%

Previous close

$136.10

 
Intrinsic value

$84.40

 
Up/down potential

-38%

 
Rating

sell

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 0001), $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 11.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  23.00
  21.20
  19.58
  18.12
  16.81
  15.63
  14.57
  13.61
  12.75
  11.97
  11.28
  10.65
  10.08
  9.58
  9.12
  8.71
  8.34
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.60
  6.44
  6.29
  6.16
  6.05
  5.94
  5.85
Revenue, $m
  4,130
  5,006
  5,986
  7,071
  8,260
  9,551
  10,942
  12,431
  14,016
  15,694
  17,464
  19,323
  21,272
  23,309
  25,434
  27,648
  29,953
  32,350
  34,841
  37,430
  40,121
  42,917
  45,824
  48,846
  51,990
  55,261
  58,667
  62,214
  65,911
  69,765
Variable operating expenses, $m
  3,093
  3,749
  4,482
  5,294
  6,184
  7,150
  8,191
  9,306
  10,492
  11,748
  13,070
  14,462
  15,920
  17,445
  19,035
  20,692
  22,417
  24,211
  26,076
  28,014
  30,027
  32,120
  34,295
  36,557
  38,910
  41,358
  43,907
  46,562
  49,329
  52,214
Fixed operating expenses, $m
  279
  285
  291
  298
  304
  311
  318
  325
  332
  339
  347
  354
  362
  370
  378
  387
  395
  404
  413
  422
  431
  441
  450
  460
  470
  481
  491
  502
  513
  524
Total operating expenses, $m
  3,372
  4,034
  4,773
  5,592
  6,488
  7,461
  8,509
  9,631
  10,824
  12,087
  13,417
  14,816
  16,282
  17,815
  19,413
  21,079
  22,812
  24,615
  26,489
  28,436
  30,458
  32,561
  34,745
  37,017
  39,380
  41,839
  44,398
  47,064
  49,842
  52,738
Operating income, $m
  758
  972
  1,213
  1,479
  1,772
  2,090
  2,433
  2,801
  3,192
  3,607
  4,047
  4,507
  4,989
  5,494
  6,020
  6,569
  7,140
  7,735
  8,353
  8,995
  9,662
  10,356
  11,078
  11,828
  12,609
  13,422
  14,268
  15,150
  16,069
  17,027
EBITDA, $m
  1,012
  1,279
  1,580
  1,912
  2,277
  2,674
  3,102
  3,560
  4,048
  4,566
  5,111
  5,685
  6,286
  6,915
  7,571
  8,255
  8,966
  9,707
  10,477
  11,277
  12,108
  12,973
  13,872
  14,806
  15,779
  16,791
  17,845
  18,943
  20,087
  21,280
Interest expense (income), $m
  6
  5
  15
  26
  39
  52
  68
  84
  102
  121
  141
  162
  185
  208
  233
  259
  286
  314
  344
  374
  406
  439
  473
  509
  546
  584
  624
  666
  709
  755
  802
Earnings before tax, $m
  753
  957
  1,187
  1,441
  1,719
  2,022
  2,349
  2,699
  3,071
  3,466
  3,884
  4,322
  4,781
  5,260
  5,761
  6,283
  6,826
  7,391
  7,978
  8,589
  9,223
  9,883
  10,569
  11,282
  12,025
  12,797
  13,602
  14,440
  15,314
  16,225
Tax expense, $m
  203
  258
  320
  389
  464
  546
  634
  729
  829
  936
  1,049
  1,167
  1,291
  1,420
  1,555
  1,696
  1,843
  1,996
  2,154
  2,319
  2,490
  2,668
  2,854
  3,046
  3,247
  3,455
  3,673
  3,899
  4,135
  4,381
Net income, $m
  550
  699
  866
  1,052
  1,255
  1,476
  1,715
  1,970
  2,242
  2,530
  2,836
  3,155
  3,490
  3,840
  4,206
  4,586
  4,983
  5,395
  5,824
  6,270
  6,733
  7,215
  7,715
  8,236
  8,778
  9,342
  9,929
  10,541
  11,179
  11,844

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  3,776
  4,576
  5,472
  6,464
  7,550
  8,730
  10,002
  11,363
  12,812
  14,346
  15,963
  17,663
  19,444
  21,306
  23,249
  25,273
  27,379
  29,570
  31,847
  34,214
  36,674
  39,230
  41,886
  44,649
  47,522
  50,513
  53,626
  56,868
  60,248
  63,771
Adjusted assets (=assets-cash), $m
  3,776
  4,576
  5,472
  6,464
  7,550
  8,730
  10,002
  11,363
  12,812
  14,346
  15,963
  17,663
  19,444
  21,306
  23,249
  25,273
  27,379
  29,570
  31,847
  34,214
  36,674
  39,230
  41,886
  44,649
  47,522
  50,513
  53,626
  56,868
  60,248
  63,771
Revenue / Adjusted assets
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
Average production assets, $m
  2,871
  3,479
  4,161
  4,914
  5,741
  6,638
  7,605
  8,640
  9,741
  10,907
  12,137
  13,430
  14,784
  16,200
  17,677
  19,215
  20,817
  22,483
  24,215
  26,014
  27,884
  29,827
  31,848
  33,948
  36,133
  38,406
  40,773
  43,239
  45,808
  48,487
Working capital, $m
  190
  230
  275
  325
  380
  439
  503
  572
  645
  722
  803
  889
  979
  1,072
  1,170
  1,272
  1,378
  1,488
  1,603
  1,722
  1,846
  1,974
  2,108
  2,247
  2,392
  2,542
  2,699
  2,862
  3,032
  3,209
Total debt, $m
  278
  484
  715
  971
  1,251
  1,556
  1,884
  2,235
  2,609
  3,005
  3,422
  3,860
  4,320
  4,800
  5,302
  5,824
  6,367
  6,932
  7,520
  8,131
  8,765
  9,425
  10,110
  10,823
  11,564
  12,336
  13,139
  13,975
  14,847
  15,756
Total liabilities, $m
  974
  1,181
  1,412
  1,668
  1,948
  2,252
  2,580
  2,932
  3,305
  3,701
  4,118
  4,557
  5,017
  5,497
  5,998
  6,520
  7,064
  7,629
  8,217
  8,827
  9,462
  10,121
  10,807
  11,519
  12,261
  13,032
  13,835
  14,672
  15,544
  16,453
Total equity, $m
  2,801
  3,395
  4,060
  4,796
  5,602
  6,478
  7,421
  8,431
  9,506
  10,644
  11,845
  13,106
  14,427
  15,809
  17,250
  18,752
  20,315
  21,941
  23,631
  25,387
  27,212
  29,108
  31,080
  33,130
  35,262
  37,480
  39,790
  42,196
  44,704
  47,318
Total liabilities and equity, $m
  3,775
  4,576
  5,472
  6,464
  7,550
  8,730
  10,001
  11,363
  12,811
  14,345
  15,963
  17,663
  19,444
  21,306
  23,248
  25,272
  27,379
  29,570
  31,848
  34,214
  36,674
  39,229
  41,887
  44,649
  47,523
  50,512
  53,625
  56,868
  60,248
  63,771
Debt-to-equity ratio
  0.100
  0.140
  0.180
  0.200
  0.220
  0.240
  0.250
  0.270
  0.270
  0.280
  0.290
  0.290
  0.300
  0.300
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
  0.320
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
Adjusted equity ratio
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  550
  699
  866
  1,052
  1,255
  1,476
  1,715
  1,970
  2,242
  2,530
  2,836
  3,155
  3,490
  3,840
  4,206
  4,586
  4,983
  5,395
  5,824
  6,270
  6,733
  7,215
  7,715
  8,236
  8,778
  9,342
  9,929
  10,541
  11,179
  11,844
Depreciation, amort., depletion, $m
  254
  307
  367
  433
  506
  584
  669
  760
  856
  959
  1,065
  1,178
  1,297
  1,421
  1,551
  1,686
  1,826
  1,972
  2,124
  2,282
  2,446
  2,616
  2,794
  2,978
  3,170
  3,369
  3,577
  3,793
  4,018
  4,253
Funds from operations, $m
  803
  1,006
  1,233
  1,485
  1,761
  2,060
  2,384
  2,730
  3,099
  3,489
  3,900
  4,333
  4,787
  5,261
  5,756
  6,272
  6,809
  7,367
  7,948
  8,552
  9,179
  9,831
  10,509
  11,214
  11,948
  12,711
  13,506
  14,334
  15,197
  16,098
Change in working capital, $m
  36
  40
  45
  50
  55
  59
  64
  68
  73
  77
  81
  86
  90
  94
  98
  102
  106
  110
  115
  119
  124
  129
  134
  139
  145
  150
  157
  163
  170
  177
Cash from operations, $m
  768
  966
  1,188
  1,435
  1,706
  2,001
  2,320
  2,661
  3,026
  3,412
  3,819
  4,248
  4,697
  5,167
  5,658
  6,170
  6,703
  7,257
  7,834
  8,433
  9,055
  9,702
  10,375
  11,075
  11,803
  12,561
  13,349
  14,171
  15,027
  15,920
Maintenance CAPEX, $m
  -205
  -252
  -305
  -365
  -431
  -504
  -582
  -667
  -758
  -854
  -957
  -1,065
  -1,178
  -1,297
  -1,421
  -1,551
  -1,686
  -1,826
  -1,972
  -2,124
  -2,282
  -2,446
  -2,616
  -2,794
  -2,978
  -3,170
  -3,369
  -3,577
  -3,793
  -4,018
New CAPEX, $m
  -538
  -609
  -681
  -754
  -826
  -897
  -967
  -1,035
  -1,101
  -1,166
  -1,230
  -1,292
  -1,354
  -1,416
  -1,477
  -1,539
  -1,602
  -1,666
  -1,732
  -1,800
  -1,870
  -1,943
  -2,020
  -2,100
  -2,185
  -2,274
  -2,367
  -2,465
  -2,569
  -2,679
Cash from investing activities, $m
  -743
  -861
  -986
  -1,119
  -1,257
  -1,401
  -1,549
  -1,702
  -1,859
  -2,020
  -2,187
  -2,357
  -2,532
  -2,713
  -2,898
  -3,090
  -3,288
  -3,492
  -3,704
  -3,924
  -4,152
  -4,389
  -4,636
  -4,894
  -5,163
  -5,444
  -5,736
  -6,042
  -6,362
  -6,697
Free cash flow, $m
  25
  105
  202
  316
  449
  600
  771
  959
  1,166
  1,391
  1,632
  1,891
  2,165
  2,455
  2,760
  3,081
  3,416
  3,765
  4,130
  4,509
  4,903
  5,313
  5,739
  6,181
  6,640
  7,117
  7,613
  8,129
  8,665
  9,223
Issuance/(repayment) of debt, $m
  183
  207
  231
  256
  280
  304
  328
  351
  374
  396
  417
  439
  460
  480
  501
  522
  543
  565
  588
  611
  635
  659
  685
  713
  741
  771
  803
  837
  872
  909
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  183
  207
  231
  256
  280
  304
  328
  351
  374
  396
  417
  439
  460
  480
  501
  522
  543
  565
  588
  611
  635
  659
  685
  713
  741
  771
  803
  837
  872
  909
Total cash flow (excl. dividends), $m
  208
  312
  433
  572
  729
  905
  1,099
  1,311
  1,540
  1,787
  2,050
  2,329
  2,624
  2,935
  3,262
  3,603
  3,959
  4,331
  4,717
  5,120
  5,538
  5,973
  6,424
  6,894
  7,382
  7,889
  8,417
  8,966
  9,537
  10,132
Retained Cash Flow (-), $m
  -525
  -594
  -665
  -736
  -806
  -876
  -944
  -1,010
  -1,075
  -1,138
  -1,200
  -1,261
  -1,322
  -1,381
  -1,441
  -1,502
  -1,563
  -1,626
  -1,690
  -1,756
  -1,825
  -1,897
  -1,971
  -2,050
  -2,132
  -2,219
  -2,310
  -2,406
  -2,507
  -2,614
Prev. year cash balance distribution, $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 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
  -317
  -282
  -232
  -164
  -77
  29
  155
  301
  465
  649
  849
  1,068
  1,303
  1,554
  1,820
  2,101
  2,396
  2,705
  3,028
  3,364
  3,713
  4,076
  4,453
  4,844
  5,249
  5,670
  6,107
  6,560
  7,030
  7,518
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
  -304
  -258
  -202
  -135
  -60
  21
  105
  188
  267
  340
  403
  456
  495
  522
  534
  534
  521
  498
  466
  427
  384
  338
  292
  247
  204
  165
  131
  101
  77
  57
Current shareholders' claim on cash, %
  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 37.9
Price to Sales 3.7
Price to Book 6.1
Price to Tangible Book
Price to Cash Flow 19.8
Price to Free Cash Flow 75.8
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 $3358.112 million for the last fiscal year's total revenue generated by Old Dominion Freight Line. The default revenue input number comes from 0001 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 23% 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 74.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $273 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 5.4% 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 69.5%.

Life of production assets of 11.4 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 4.6%. 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 - $2276.854 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 82.199 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 $11.2 billion.

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COMPANY NEWS

▶ David Rolfe Buys 3 Stocks in 3rd Quarter   [Nov-16-18 04:43PM  GuruFocus.com]
▶ Forbes Names Old Dominion Freight Line Worlds Best Employer   [Nov-13-18 02:47PM  GlobeNewswire]
▶ Triad transportation company fined for air pollution in California   [Nov-06-18 01:41PM  American City Business Journals]
▶ Old Dominion posts another record quarter   [07:30AM  American City Business Journals]
▶ Briefcase: Historic mansion named top LGBTQ venue, ski town rebrands   [Oct-29-18 09:30AM  American City Business Journals]
▶ Old Dominion: 3Q Earnings Snapshot   [07:18AM  Associated Press]
▶ Morgan Stanley Downgrades A Fleet Of Freight Stocks   [Oct-22-18 01:18PM  Benzinga]
▶ David Rolfe Comments on Old Dominion Freight Line   [Oct-12-18 05:10PM  GuruFocus.com]
▶ Old Dominion broadens network with six new or expanded terminals   [Sep-25-18 07:00AM  American City Business Journals]
▶ Apple, Snap Weak Again; Will This Sector Help Dow Beat Nasdaq In Q3?   [Sep-10-18 04:45PM  Investor's Business Daily]
▶ Keeping up with technology and Tesla is ongoing challenge for Old Dominion   [Aug-31-18 05:55AM  American City Business Journals]
▶ Old Dominion purchases property for second Triad service center   [Aug-03-18 12:00PM  American City Business Journals]
▶ Old Dominion Goes On Hiring Spree, Boosted by Robust Demand   [Aug-01-18 02:01PM  The Wall Street Journal]
▶ Top Ranked Growth Stocks to Buy for July 23rd   [Jul-23-18 10:01AM  Zacks]
▶ PHOTOS: Exhibit at NC Transportation Museum highlights trucking company   [Jul-20-18 02:01PM  American City Business Journals]
▶ Top Ranked Growth Stocks to Buy for July 13th   [Jul-13-18 09:20AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for July 10th   [Jul-10-18 09:56AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for July 2nd   [Jul-02-18 10:32AM  Zacks]

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