Stock Analysis on Net
Stock Analysis on Net

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

This company has been moved to the archive! The financial data has not been updated since August 4, 2023.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Old Dominion Freight Line Inc., FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income 1,377,159 1,034,375 672,682 615,518 605,668
Net noncash charges 367,200 319,430 244,292 300,687 293,437
Changes in assets and liabilities (52,777) (141,199) 16,050 67,683 1,011
Net cash provided by operating activities 1,691,582 1,212,606 933,024 983,888 900,116
Purchase of property and equipment (775,148) (550,077) (225,081) (479,325) (588,292)
Proceeds from sale of property and equipment 22,096 19,548 3,690 5,686 6,983
Proceeds from issuance of long-term debt — — 99,923 — —
Principal payments under debt agreements — — (45,000) — (50,000)
Free cash flow to equity (FCFE) 938,530 682,077 766,556 510,249 268,807

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Old Dominion Freight Line Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Old Dominion Freight Line Inc. FCFE decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Price to FCFE Ratio, Current

Old Dominion Freight Line Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 109,268,081
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 938,530
FCFE per share 8.59
Current share price (P) 407.11
Valuation Ratio
P/FCFE 47.40
Benchmarks
P/FCFE, Competitors1
FedEx Corp. 23.54
Uber Technologies Inc. 43.88
Union Pacific Corp. 33.86
United Parcel Service Inc. 15.33
P/FCFE, Sector
Transportation 23.95
P/FCFE, Industry
Industrials 29.81

Based on: 10-K (reporting date: 2022-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Old Dominion Freight Line Inc., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
No. shares of common stock outstanding1 110,026,430 114,863,803 116,937,111 119,545,928 121,720,484
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 938,530 682,077 766,556 510,249 268,807
FCFE per share3 8.53 5.94 6.56 4.27 2.21
Share price1, 4 342.01 282.48 217.31 137.52 100.31
Valuation Ratio
P/FCFE5 40.09 47.57 33.15 32.22 45.42
Benchmarks
P/FCFE, Competitors6
FedEx Corp. 19.48 36.75 13.28 38.51 —
Uber Technologies Inc. 333.68 139.66 — — —
Union Pacific Corp. 13.19 17.16 18.08 15.24 —
United Parcel Service Inc. 21.80 22.62 33.39 19.54 —
P/FCFE, Sector
Transportation 20.55 24.57 31.15 31.09 —
P/FCFE, Industry
Industrials 23.85 — 49.40 28.48 —

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 938,530,000 ÷ 110,026,430 = 8.53

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

5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= 342.01 ÷ 8.53 = 40.09

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Old Dominion Freight Line Inc. P/FCFE ratio increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.