Old Dominion Freight Line (ODFL) FY2020 results: revenue $4.0 billion, down 2.3% on the year
Old Dominion Freight Line, Inc. (ODFL) reported revenue of $4.0 billion for fiscal 2020, the year ended 31 December 2020, down 2.3% on the year before. Net income was $673 million, up 9.3%, and diluted earnings per share $2.84. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$4.0 billion
-2.3% on the year
FY2016FY2020
Operating margin
22.6%
19.9% a year earlier
FY2016FY2020
Net income
$673 million
+9.3% on the year
FY2016FY2020
Diluted EPS
$2.84
+11.2% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,015
4,109
4,044
-2.3%
Operating income
907
819
817
+10.8%
Operating margin
22.6%
19.9%
20.2%
Pre-tax income
901
824
816
+9.4%
Income tax
229
208
210
+9.7%
Effective tax rate
25.4%
25.3%
25.7%
Net income
673
616
606
+9.3%
Net margin
16.8%
15.0%
15.0%
Diluted EPS
$2.84
$2.55
$2.46
+11.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
933
984
900
-5.2%
Capital expenditure
225
479
588
-53.0%
Free cash flow
708
505
312
+40.3%
Free cash flow margin
17.6%
12.3%
7.7%
Cash from investing
-552
-474
-580
Cash from financing
-384
-297
-257
Depreciation and amortisation
261
254
230
+3.0%
Share-based compensation
11.3
16.7
4.9
-32.2%
Buybacks
364
241
163
+51.1%
Dividends paid
71.0
54.6
42.6
+30.2%
Dividend per share
$0.30
$0.23
$0.17
+32.3%
Diluted shares, weighted
237m
241m
246m
-1.8%
Shares outstanding at period end
234m
239m
244m
-2.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,326
3,081
2,680
+8.0%
Debt
99.9
45.0
45.0
+122.1%
Operating lease liabilities
93.3
56.1
n/a
+66.3%
Other liabilities
850
814
820
+4.4%
Total liabilities and equity
4,369
3,996
3,545
+9.4%
Fixed assets
2,914
2,969
2,755
-1.8%
Goodwill
n/a
19.5
19.5
Investments
330
n/a
n/a
Cash and equivalents
401
404
190
-0.5%
Receivables
445
398
428
+11.8%
Other assets
279
206
153
+35.4%
Total assets
4,369
3,996
3,545
+9.4%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.