Old Dominion Freight Line Inc., current enterprise value calculation

Current share price (P)	$407.11
No. shares of common stock outstanding	109,268,081
US$ in thousands
Common equity (market value)¹	44,484,128)
Total equity	44,484,128)
Add: Current maturities of long-term debt (per books)	20,000)
Add: Long-term debt, excluding current maturities (per books)	79,963)
Total equity and debt	44,584,091)
Less: Cash and cash equivalents	186,312)
Less: Short-term investments	49,355)
Enterprise value (EV)	44,348,424)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 407.11 × 109,268,081

Old Dominion Freight Line Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$342.01	$282.48	$217.31	$137.52	$100.31
No. shares of common stock outstanding¹	110,026,430	114,863,803	116,937,111	119,545,928	121,720,484
US$ in thousands
Common equity (market value)³	37,630,139)	32,446,727)	25,411,604)	16,439,956)	12,209,782)
Total equity	37,630,139)	32,446,727)	25,411,604)	16,439,956)	12,209,782)
Add: Current maturities of long-term debt (book value)	20,000)	—)	—)	—)	—)
Add: Long-term debt, excluding current maturities (book value)	79,963)	99,947)	99,931)	45,000)	45,000)
Total equity and debt	37,730,102)	32,546,674)	25,511,535)	16,484,956)	12,254,782)
Less: Cash and cash equivalents	186,312)	462,564)	401,430)	403,571)	190,282)
Less: Short-term investments	49,355)	254,433)	330,274)	—)	—)
Enterprise value (EV)	37,494,435)	31,829,677)	24,779,831)	16,081,385)	12,064,500)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Old Dominion Freight Line Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 342.01 × 110,026,430

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Old Dominion Freight Line Inc. EV increased from 2020 to 2021 and from 2021 to 2022.

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

Enterprise Value (EV)