Old Dominion Freight Line (ODFL) FY2023 results: revenue $5.9 billion, down 6.3% on the year
Old Dominion Freight Line, Inc. (ODFL) reported revenue of $5.9 billion for fiscal 2023, the year ended 31 December 2023, down 6.3% on the year before. Net income was $1.2 billion, down 10.0%, and diluted earnings per share $5.63. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$5.9 billion
-6.3% on the year
FY2016FY2023
Operating margin
28.0%
29.4% a year earlier
FY2016FY2023
Net income
$1.2 billion
-10.0% on the year
FY2016FY2023
Diluted EPS
$5.63
-7.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,569
1,692
1,213
-7.2%
Capital expenditure
757
775
550
-2.3%
Free cash flow
812
916
663
-11.4%
Free cash flow margin
13.8%
14.6%
12.6%
Cash from investing
-660
-547
-455
Cash from financing
-662
-1,420
-696
Depreciation and amortisation
324
276
260
+17.5%
Share-based compensation
11.1
15.9
15.0
-30.3%
Buybacks
454
1,277
536
-64.5%
Dividends paid
175
134
92.4
+30.2%
Dividend per share
$0.80
$0.60
$0.40
+33.3%
Diluted shares, weighted
220m
226m
233m
-2.6%
Shares outstanding at period end
218m
220m
230m
-1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,258
3,653
3,680
+16.6%
Debt
80.0
100.0
99.9
-20.0%
Operating lease liabilities
105
80.8
88.8
+29.7%
Other liabilities
1,070
1,005
953
+6.5%
Total liabilities and equity
5,512
4,839
4,822
+13.9%
Fixed assets
4,095
3,687
3,216
+11.1%
Investments
0.0
49.4
254
Cash and equivalents
434
186
463
+132.8%
Receivables
579
579
567
+0.0%
Other assets
404
337
321
+19.9%
Total assets
5,512
4,839
4,822
+13.9%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.