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).
Source: 10-K FY2025, filed Feb 24, 2026
Source: 10-Q filed May 6, 2026 · 10-Q filed Aug 5, 2026 · 10-Q filed Nov 4, 2026
How it makes money
By product or service, FY2025
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.
Source: 10-K FY2025
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
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
Source: Old Dominion 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026
By product or service
Source: Old Dominion 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026
The bull case and the bear case
The bull case
- Diluted shares fell 2.3% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Total debt fell 33.3% in FY2025 to $40M. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $1.6B, up 13.1% on a year earlier. 10-Q, quarter ended Sep 30, 2026
- Net income in the quarter ended Sep 30, 2026 was $344M, up 26.9% on a year earlier. 10-Q, quarter ended Sep 30, 2026
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 $50M. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Old Dominion is in the cargo ground transportation industry, part of the industrials sector. The SEC files it under Trucking (No Local).
The full description of Old Dominion's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the cargo ground transportation industry. They are not a summary of Old Dominion’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| 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 shares | 220M | 216M | 212M |
- 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
- Debt-to-equity ratio
- Risk factors (Item 1A)
- The cash flow statement
- Net debt and net cash
- Remaining performance obligations (RPO)
- Trade settlement (T+1)
- MD&A: management's discussion and analysis
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Nov 4, 2026 | Sep 30, 2026 |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 |
| 10-Q | May 6, 2026 | Mar 31, 2026 |
| DEF 14A | Apr 20, 2026 | May 20, 2026 |
| 10-K | Feb 24, 2026 | Dec 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
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Old DominionODFL | FY2025 | $5.5B | −5.5% | $1.0B |
| FedEx FreightFDXF | FY2026 | $8.8B | −1.1% | $655M |
| CaterpillarCAT | FY2025 | $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
- UNP Union Pacific
- UPS
- FDX FedEx
- DAL Delta Air Lines
- UAL United Airlines Holdings
- EXPD Expeditors International
- LUV Southwest Airlines
- CHRW C.H. Robinson
- AAPL Apple
- MSFT Microsoft
- NVDA Nvidia
- AMZN Amazon
- GOOGL Alphabet
- META
- BRK.B Berkshire Hathaway
- AVGO Broadcom
- JPM JPMorgan Chase
- LLY Eli Lilly
- MU Micron
- WMT Walmart
- AMD
- V Visa
- XOM ExxonMobil
- JNJ Johnson & Johnson
- MA Mastercard
- ABBV AbbVie
- PLTR Palantir
- INTC Intel
- CVX Chevron
- COST Costco
New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.