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Old Dominion Freight Line Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Old Dominion Freight Line has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Old Dominion Freight Line's Piotroski F-Score or its related term are showing as below:

NAS:ODFL' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 8

4
9

During the past 13 years, the highest Piotroski F-Score of Old Dominion Freight Line was 9. The lowest was 4. And the median was 6.


Old Dominion Freight Line Piotroski F-Score Historical Data

The historical data trend for Old Dominion Freight Line's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Old Dominion Freight Line Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 9.00 9.00 7.00 6.00

Old Dominion Freight Line Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 7.00 9.00 8.00

Competitive Comparison

For the Trucking subindustry, Old Dominion Freight Line's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Old Dominion Freight Line Piotroski F-Score Distribution

For the Transportation industry and Industrials sector, Old Dominion Freight Line's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Old Dominion Freight Line's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 189.832 + 199.359 + 269.576 + 286.634 = $945 Mil.
Cash Flow from Operations was 246.566 + 310.308 + 197.983 + 364.324 = $1,119 Mil.
Revenue was 1073.389 + 1126.515 + 1319.409 + 1400.046 = $4,919 Mil.
Gross Profit was 331.62 + 357.999 + 462.44 + 486.655 = $1,639 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(4273.688 + 4369.41 + 4351.863 + 4534.446 + 4613.12) / 5 = $4428.5054 Mil.
Total Assets at the begining of this year (Sep20) was $4,274 Mil.
Long-Term Debt & Capital Lease Obligation was $100 Mil.
Total Current Assets was $1,279 Mil.
Total Current Liabilities was $534 Mil.
Net Income was 144.024 + 133.177 + 147.805 + 201.868 = $627 Mil.

Revenue was 1009.206 + 987.364 + 896.21 + 1058.166 = $3,951 Mil.
Gross Profit was 277.154 + 268.953 + 275.174 + 352.851 = $1,174 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(3892.418 + 3995.568 + 3934.986 + 4080.028 + 4273.688) / 5 = $4035.3376 Mil.
Total Assets at the begining of last year (Sep19) was $3,892 Mil.
Long-Term Debt & Capital Lease Obligation was $100 Mil.
Total Current Assets was $1,138 Mil.
Total Current Liabilities was $449 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Old Dominion Freight Line's current Net Income (TTM) was 945. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Old Dominion Freight Line's current Cash Flow from Operations (TTM) was 1,119. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep20)
=945.401/4273.688
=0.22121432

ROA (Last Year)=Net Income/Total Assets (Sep19)
=626.874/3892.418
=0.16105002

Old Dominion Freight Line's return on assets of this year was 0.22121432. Old Dominion Freight Line's return on assets of last year was 0.16105002. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Old Dominion Freight Line's current Net Income (TTM) was 945. Old Dominion Freight Line's current Cash Flow from Operations (TTM) was 1,119. ==> 1,119 > 945 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=99.943/4428.5054
=0.02256811

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=99.927/4035.3376
=0.02476298

Old Dominion Freight Line's gearing of this year was 0.02256811. Old Dominion Freight Line's gearing of last year was 0.02476298. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep21)=Total Current Assets/Total Current Liabilities
=1278.852/534.291
=2.39354958

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=1138.496/449.288
=2.53400046

Old Dominion Freight Line's current ratio of this year was 2.39354958. Old Dominion Freight Line's current ratio of last year was 2.53400046. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Old Dominion Freight Line's number of shares in issue this year was 116.162. Old Dominion Freight Line's number of shares in issue last year was 117.933. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1638.714/4919.359
=0.33311535

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1174.132/3950.946
=0.29717744

Old Dominion Freight Line's gross margin of this year was 0.33311535. Old Dominion Freight Line's gross margin of last year was 0.29717744. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep20)
=4919.359/4273.688
=1.15108052

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=3950.946/3892.418
=1.01503641

Old Dominion Freight Line's asset turnover of this year was 1.15108052. Old Dominion Freight Line's asset turnover of last year was 1.01503641. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Old Dominion Freight Line has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Old Dominion Freight Line  (NAS:ODFL) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Old Dominion Freight Line Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Old Dominion Freight Line's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Old Dominion Freight Line Business Description

Old Dominion Freight Line logo
Industry
Industrials » Transportation NAICS : 484121 SIC : 4213
Traded in Other Exchanges
Address
500 Old Dominion Way, Thomasville, NC, USA, 27360
Old Dominion Freight Line is the third- largest less-than-truckload carrier in the United States, with more than 240 service centers and 9,200-plus tractors. OD is by far one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns stand head and shoulders above its peers. Strategic initiatives revolve around increasing network density through market share gains and maintaining industry- leading service via consistent infrastructure investment.
Executives
Hanley Patrick D director 1000 SEMMES AVE RICHMOND VA 23224
Suggs Leo H director UNION PACIFIC CORP 1416 DODGE ST OMAHA NE 68179
Stallings Wendy T. director 500 OLD DOMINION WAY THOMASVILLE NC 27360
Gabosch Bradley R director 500 OLD DOMINION WAY THOMASVILLE NC 27360
Wray D. Michael director 7205 PINETREE ROAD RICHMOND VA 23229
Kasarda John D. director 500 OLD DOMINION WAY THOMASVILLE NC 27360
Aaholm Sherry A director 500 JACKSON STREET COLUMBUS IN 47201
Congdon John R Jr director C/O OLD DOMINION FREIGHT LINE, INC. 500 OLD DOMINION WAY THOMASVILLE NC 27360
Parr Ross H. officer: SVP - Legal Affairs, GC & Sec. 500 OLD DOMINION WAY THOMASVILLE NC 27360
Plemmons Gregory B officer: SVP - Sales 500 OLD DOMINION WAY THOMASVILLE NC 27360
Brooks Christopher T officer: SVP - Human Resources & Safety 500 OLD DOMINION WAY THOMASVILLE NC 27360
Maready Kimberly S officer: VP - Accounting & Fin. (PAO) 500 OLD DOMINION WAY THOMASVILLE NC 27360
Satterfield Adam N officer: CFO, SVP-Finance & Asst. Sec. 500 OLD DOMINION WAY THOMASVILLE NC 27360
Bates David J. officer: SVP - Operations 500 OLD DOMINION WAY THOMASVILLE NC 27360
Overbey Cecil E. Jr. officer: SVP - Strategic Development 500 OLD DOMINION WAY THOMASVILLE NC 27360

Old Dominion Freight Line Headlines

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