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Company file · ODFL

Old Dominion

Old Dominion's revenue fell 5.5% in FY2025, to $5.5B, and net income fell 13.7% to $1.0B

Revenue fell 5.5% to $5.5B in FY2025, from $5.8B in FY2024. Net income fell 13.7% to $1.0B. LTL Service Revenue was the largest product or service, at 99% of revenue.

Key facts

Old Dominion (Nasdaq: ODFL) closed fiscal 2025 on Dec 31, 2025 with revenue of $5.5B, down 5.5% from a year before; net income came to $1.0B, down 13.7%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $1.6B, up 13.1% on the same stretch of the prior year, and net income of $344M. Broken down by product or service, LTL Service Revenue led with 99% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 24, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 4, 2026).

Revenue$5.5BFY2025 · −5.5% vs FY2024
Net income$1.0BFY2025 · −13.7% vs FY2024
Operating cash flow$1.4BFY2025 · −17.4% vs FY2024
Cash & equivalents$466Mat Sep 30, 2026 · +288.2% vs FY2025 end
Total debt$40MFY2025 end · −33.3% vs FY2024
Diluted shares212MFY2025 avg · −2.3% vs FY2024
Revenue and net income, three fiscal yearsBy fiscal year, $bn
RevenueNet income
Revenue and net income by fiscal yearRevenue FY2023: $5.9B5.9Net income FY2023: $1.2B1.2FY2023Revenue FY2024: $5.8B5.8Net income FY2024: $1.2B1.2FY2024Revenue FY2025: $5.5B5.5Net income FY2025: $1.0B1.0FY2025Data: Ticker Sage, from SEC EDGAR · tickersage.com

Source: 10-K FY2025, filed Feb 24, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly revenue, fiscal 2026 vs 2025FY2025 Q1: $1.4B1.4FY2026 Q1: $1.3B1.3Q1FY2025 Q2: $1.4B1.4FY2026 Q2: $1.6B1.6Q2FY2025 Q3: $1.4B1.4FY2026 Q3: $1.6B1.6Q3Data: Ticker Sage, from SEC EDGAR · tickersage.com

Source: 10-Q filed May 6, 2026 · 10-Q filed Aug 5, 2026 · 10-Q filed Nov 4, 2026

How it makes money

FY2025 total by categoryLTL Service Revenue: $5.4B (99%)Other Service Revenue: $50M (1%)$5.5BFY2025 totalData: Ticker Sage, from SEC EDGARtickersage.com

By product or service, FY2025

  • LineAmountSharevs FY2024
  • LTL Service Revenue$5.4B99%−5.5%
  • Other Service Revenue$50M1%−6.5%

Source: 10-K FY2025, XBRL breakdown

By product or service in FY2025: LTL Service Revenue (99%) and Other Service Revenue (1%), as shares of total revenue. Total revenue was $5.5B.

By product or service: three-year mixShare of the total each fiscal year
LTL Service RevenueOther Service Revenue

Source: 10-K FY2025

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue
$1.6B Q3 2026
$1.4B Q3 2025
13.1% increase
Net income
$344M Q3 2026
$271M Q3 2025
26.9% increase

Source: Old Dominion 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026

By product or service

LTL Service Revenue
$1.6B Q3 2026
$1.4B Q3 2025
13.1% increase
Other Service Revenue
$14M Q3 2026
$12M Q3 2025
16.3% increase

Source: Old Dominion 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026

  • Cash & equivalents $466M at Sep 30, 2026, vs $120M at FY2025 end.
  • Operating cash flow, first 9 months of fiscal 2026: $1.1B vs $1.1B a year earlier.

The bull case and the bear case

The bull case

The bear case

  • Revenue fell 5.5% in FY2025 to $5.5B, from $5.8B a year earlier. 10-K, FY2025
  • Net income fell 13.7% in FY2025 to $1.0B, from $1.2B. 10-K, FY2025
  • Operating cash flow fell 17.4% in FY2025 to $1.4B. 10-K, FY2025
  • Other Service Revenue revenue fell 6.5% in FY2025 to $50M. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Old Dominion is in the cargo ground transportation industry, part of the industrials sector. The SEC files it under Trucking (No Local).

The full description of Old Dominion's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the cargo ground transportation industry. They are not a summary of Old Dominion’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

  1. Economic cyclesDemand for equipment and services rises and falls with business investment.
  2. Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
  3. Trade and tariffsTariffs and trade policy affect costs and sales.
  4. Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
  5. Regulation and liabilitySafety, environmental and product-liability rules can raise costs.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2023FY2024FY2025
Revenue$5.9B$5.8B$5.5B
Net income$1.2B$1.2B$1.0B
Operating cash flow$1.6B$1.7B$1.4B
Cash & equivalents (year end)$434M$109M$120M
Total debt (year end)$80M$60M$40M
Diluted shares220M216M212M
  • Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
  • Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
  • Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
  • Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
  • Total debt: The current part of long-term debt plus long-term debt, at carrying value.
  • Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

    Recent filings

    FormFiledPeriod
    10-QNov 4, 2026Sep 30, 2026
    10-QAug 5, 2026Jun 30, 2026
    10-QMay 6, 2026Mar 31, 2026
    DEF 14AApr 20, 2026May 20, 2026
    10-KFeb 24, 2026Dec 31, 2025

    Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

    Common questions about Old Dominion

    How does Old Dominion make money?

    Fiscal 2025 revenue: $5.5B. By product or service in FY2025: LTL Service Revenue (99%) and Other Service Revenue (1%), as shares of total revenue. Total revenue was $5.5B. Source: 10-K for fiscal 2025, filed Feb 24, 2026.

    What was Old Dominion's revenue in fiscal 2025?

    $5.5B, down 5.5% from fiscal 2024 ($5.8B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $5.9B. Source: 10-K for fiscal 2025, filed Feb 24, 2026.

    Is Old Dominion profitable?

    Net income was $1.0B in fiscal 2025 (down 13.7%; fiscal 2024 was $1.2B). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $344M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 24, 2026.

    What did Old Dominion report in its latest quarterly filing?

    For the three months to Sep 30, 2026: revenue $1.6B (up 13.1% from $1.4B) and net income $344M (up 26.9% from $271M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026.

    What are the main risks Old Dominion faces?

    Old Dominion's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 24, 2026. Risks that are common among companies in the cargo ground transportation industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.

    Where do these Old Dominion numbers come from?

    The 10-K filed Feb 24, 2026 (fiscal 2025) and the 10-Q filed Nov 4, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

    Tracked funds that report owning Old Dominion

    • Citadel Advisors: 1,270,635 shares, reported value $275.2M at Jun 30, 2026 (+326.3% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
    • Markel Group: 429,150 shares, reported value $74.6M at Sep 30, 2026 (same number of shares as in the filing for Jun 30, 2026). Form 13F filed Oct 30, 2026.
    • Two Sigma Investments: 172,912 shares, reported value $37.5M at Jun 30, 2026 (−27.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
    • Millennium Management: 161,409 shares, reported value $35.0M at Jun 30, 2026 (−25.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
    • Baillie Gifford: 14,849 shares, reported value $2.6M at Sep 30, 2026 (−62.9% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.

    From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

    Disclosures

    Editor holdings in ODFL
    The editor holds no position in Old Dominion (ODFL). As of Nov 11, 2026.
    Trading rule
    The editor does not buy or sell ODFL from 3 days before to 3 days after this page is published or substantively updated.
    Compensation
    Nobody paid for this page. No affiliate links on this page.
    Sources
    The company's SEC filings, linked next to each number or, for charts, in the source line under them.
    Last updated
    Nov 9, 2026

    General education, the same for every reader. Not a recommendation to buy, sell or hold ODFL, and it doesn't consider your situation.

    Compare with peers

    CompanyFiscal yearRevenueRevenue growthNet income
    Old DominionODFLFY2025$5.5B−5.5%$1.0B
    FedEx FreightFDXFFY2026$8.8B−1.1%$655M
    CaterpillarCATFY2025$67.6B+4.3%$8.9B

    Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

    More company files

    New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.