Name: Old Dominion Freight Line Inc. (NASDAQ:ODFL) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

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)

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

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

Download chart

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)

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 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

A consistent and significant upward trajectory in valuation is observed from 2018 through 2022. The overall financial profile indicates a period of aggressive growth in market capitalization and enterprise value, coupled with a conservative approach to leverage.

Market Equity Growth: Common equity market value experienced substantial expansion over the five-year period, rising from 12,209,782 thousand US$ in 2018 to 37,630,139 thousand US$ by the end of 2022. This represents a growth of approximately 208%, with the most pronounced increase occurring between 2019 and 2020.
Capital Structure and Leverage: The variance between total equity and total equity and debt remains minimal throughout the analyzed period. For instance, in 2022, total equity and debt stood at 37,730,102 thousand US$ compared to total equity of 37,630,139 thousand US$, suggesting a capital structure heavily weighted toward equity with very low reliance on external debt financing.
Enterprise Value (EV) Analysis: Enterprise value followed a growth pattern nearly identical to that of the market equity, increasing from 12,064,500 thousand US$ in 2018 to 37,494,435 thousand US$ in 2022. Notably, the enterprise value remained consistently lower than the market value of common equity across all five years. This disparity indicates a net cash position, where the company's cash and cash equivalents exceed its total debt obligations.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)