Latest Ratios: P/E Ratio 44.8x · EV/EBITDA 26.1x · 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 | $45.0B | $32.9B | $38.2B | $44.6B | $32.1B | $41.7B | $23.1B | $15.3B | $10.1B | $10.8B | $7.1B |
| Enterprise Value | $45.0B | $32.9B | $38.2B | $44.3B | $32.0B | $41.4B | $22.8B | $14.9B | $10.0B | $10.8B | $7.2B |
| P/E Ratio → | 44.81 | 32.46 | 32.19 | 36.00 | 23.30 | 40.27 | 34.36 | 24.81 | 16.73 | 23.32 | 24.03 |
| P/S Ratio | 8.19 | 5.99 | 6.57 | 7.61 | 5.13 | 7.94 | 5.76 | 3.71 | 2.50 | 3.23 | 2.38 |
| P/B Ratio | 10.54 | 7.63 | 9.00 | 10.48 | 8.78 | 11.34 | 6.95 | 4.95 | 3.78 | 4.76 | 3.85 |
| P/FCF | 47.13 | 34.46 | 43.01 | 54.97 | 35.02 | 62.97 | 32.67 | 30.24 | 32.48 | 70.32 | 48.32 |
| P/OCF | 32.85 | 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 | 26.10 | 19.08 | 20.25 | 22.53 | 15.12 | 25.04 | 19.54 | 13.90 | 9.53 | 13.83 | 10.73 |
| EV / EBIT | 33.09 | 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 | 0.5% | 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 | 2.2% | 3.1% | 3.1% | 2.8% | 4.3% | 2.5% | 2.9% | 4.0% | 6.0% | 4.3% | 4.2% |
| FCF Yield | 2.1% | 2.9% | 2.3% | 1.8% | 2.9% | 1.6% | 3.1% | 3.3% | 3.1% | 1.4% | 2.1% |
| Buyback Yield | 1.6% | 2.2% | 2.5% | 1.0% | 4.0% | 1.3% | 1.6% | 1.6% | 1.6% | 0.1% | 1.8% |
| Total Shareholder Yield | 2.1% | 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 |
Cyclical freight demand softening
According to current market data, ODFL trades at a forward P/E of 39.99, which represents a significant premium compared to peers like TFI International, suggesting that investors are pricing in a high-quality growth trajectory that may be increasingly difficult to sustain given the recent revenue contraction.
The current valuation multiples appear to reflect a 'quality premium' that assumes ODFL will maintain its superior operating margins despite the broader industrial slowdown. Investors should monitor whether this valuation remains defensible if the company's growth rate continues to lag behind historical averages, as the current PEG ratio of 4.04 indicates a high price paid for expected future earnings.
Based on reported financial statements, ODFL's ROIC has trended downward from 8.1% in 2023Q4 to 5.6% in 2026Q1, indicating that the company's ability to compound returns on its massive terminal infrastructure is currently being challenged by the prevailing softness in freight demand.
The decline in ROIC suggests that the high fixed-cost nature of the business is creating a drag on returns as tonnage volumes fail to fully utilize the expanded terminal network. While the company remains profitable, the compression in returns warrants further investigation into whether the current capital allocation strategy requires a more defensive posture until industrial production cycles recover.
As reported in recent filings, ODFL has maintained a consistent DSO of approximately 36 to 37 days, demonstrating that despite the broader industry downturn, the company continues to exercise effective control over its receivables and maintains strong leverage over its customer base.
The stability of the DSO metric suggests that ODFL's service-based moat remains intact, as customers continue to prioritize timely payments to maintain access to the company's premium LTL network. This operational discipline provides a critical buffer, ensuring that cash conversion remains predictable even as top-line growth faces cyclical headwinds.
According to the latest balance sheet data, ODFL maintains a negligible debt-to-equity ratio of 0.01%, which effectively insulates the company from interest rate volatility and provides a significant competitive advantage over more levered peers like XPO or TFI International.
This minimal leverage profile allows management to maintain its strategic focus on organic terminal expansion without the burden of debt service obligations during periods of revenue contraction. Investors should monitor this strength as a potential source of defensive optionality, should the company choose to pursue opportunistic investments while competitors are forced to deleverage.
Market participants frequently over-rely on tonnage as the primary indicator of ODFL's health, which obscures the company's strategic focus on yield management and high-value freight that allows it to maintain profitability even when physical volumes are in a state of cyclical decline.
Focusing solely on tonnage ignores the 'service premium' that ODFL commands, which is the true driver of its long-term margin stability. Analysts should instead prioritize revenue per hundredweight and operating ratio trends, as these metrics better capture the company's ability to extract value from its network regardless of the broader freight volume environment.
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 44.8x. The historical average is 20.3x. This places it at the 100th percentile of its historical range.
Old Dominion Freight Line, Inc.'s current EV/EBITDA is 26.1x. 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 44.8x. This is at the 100th 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 0.52% 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.