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Old Dominion Freight Line cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$402M in Q3 2026 · $1.2B over twelve months

Operating cash flow$469M
Capital spending−$67.0M
Free cash flow+$402M
Cash / net income1.4×

Analysis

In Q3 2026, Old Dominion Freight Line generated $469M of operating cash flow and spent $67.0M on capital projects, leaving free cash flow of $402M. That is $58.9M more than in Q3 2025 ($344M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.4B; the largest uses were buybacks ($526M), capital spending ($252M), dividends ($239M); besides operations, cash came from asset & business sales ($78.5M), other investing ($3.2M); the cash balance rose by $420M.

Operating cash flow was $469M against net income of $344M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$90.4M, gains on disposals +$1.1M.

Free cash flow

Old Dominion Freight Line: free cash flow by quarterOld Dominion Freight Line: free cash flow by quarter$230MQ4 2024$248MQ1 2025$98.7MQ2 2025$344MQ3 2025$265MQ4 2025$311MQ1 2026$196MQ2 2026$402MQ3 2026
Operating cash flow less capital spending.
Old Dominion Freight Line: operating cash flow against capital spendingOld Dominion Freight Line: operating cash flow against capital spendingOperating cash flowCapital spending$401M$171MQ4 2024$337M$88.1MQ1 2025$286M$187MQ2 2025$437M$93.9MQ3 2025$310M$45.8MQ4 2025$374M$62.6MQ1 2026$273M$77.0MQ2 2026$469M$67.0MQ3 2026
Latest (Q3 2026): Operating cash flow $469M, Capital spending $67.0M.

Capital allocation, year by year

Old Dominion Freight Line: where the cash came from (up) and went (down), by fiscal yearOld Dominion Freight Line: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.2BFY2021: Asset sales $19.5MFY2021: Capital spending −$550MFY2021: Buybacks −$536MFY2021: Dividends −$92.4M$1.2BFY2021FY2022: Operating cash flow $1.7BFY2022: Asset sales $22.1MFY2022: Capital spending −$775MFY2022: Buybacks −$1.3BFY2022: Dividends −$134M$1.7BFY2022FY2023: Operating cash flow $1.6BFY2023: Net borrowing −$20.0MFY2023: Asset sales $48.6MFY2023: Capital spending −$757MFY2023: Buybacks −$454MFY2023: Dividends −$175M$1.6BFY2023FY2024: Operating cash flow $1.7BFY2024: Net borrowing −$20.0MFY2024: Asset sales $20.1MFY2024: Capital spending −$771MFY2024: Buybacks −$967MFY2024: Dividends −$224M$1.7BFY2024FY2025: Operating cash flow $1.4BFY2025: Net borrowing −$20.0MFY2025: Asset sales $48.5MFY2025: Capital spending −$415MFY2025: Buybacks −$730MFY2025: Dividends −$236M$1.4BFY2025
Over these 5 years operating cash flow totalled $7.5B; the largest uses were buybacks ($4.0B) and capital spending ($3.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$466M
Debt$20.0M
Net cash$446M
Due within a year$20.0M

Old Dominion Freight Line funds itself: free cash flow was $1.2B over the last twelve months, and $466M of cash and investments stands against $20.0M of debt ($20.0M due within a year, 23.3× covered by cash).

Where the cash came from and went

Old Dominion Freight Line: sources (+) and uses (−) of cash, Q3 2026Old Dominion Freight Line: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$469MCash drawn (+) / kept (−)−$182MBuybacks−$161MCapital spending−$67.0MDividends−$60.0MAsset & business sales$1.5MOther financing−$700K
Old Dominion Freight Line: sources (+) and uses (−) of cash, TTM to Q3 2026Old Dominion Freight Line: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.4BBuybacks−$526MCash drawn (+) / kept (−)−$420MCapital spending−$252MDividends−$239MAsset & business sales$78.5MOther financing−$51.0MNet borrowing (+) / repaid (−)−$20.0MOther investing$3.2M

From profit to cash

Old Dominion Freight Line: net income to operating cash flow, Q3 2026Old Dominion Freight Line: net income to operating cash flow, Q3 2026Net income$344MDepreciation & amortization$90.4MGains on disposals$1.1MOperating cash flow$469M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$469M−$67.0M−$161M−$60.0M—−$182M$402M
Q2 2026$273M−$77.0M−$152M−$60.2M—$4.1M$196M
Q1 2026$374M−$62.6M−$88.1M−$60.5M—−$168M$311M
Q4 2025$310M−$45.8M−$125M−$58.4M—−$73.5M$265M
Q3 2025$437M−$93.9M−$181M−$58.7M−$85.0M−$22.5M$344M
Q2 2025$286M−$187M−$224M−$59.0M—$73.1M$98.7M
Q1 2025$337M−$88.1M−$201M−$59.5M—$11.5M$248M
Q4 2024$401M−$171M−$183M−$55.4M—−$34.5M$230M

Old Dominion Freight Line: income statement and cash flow

Old Dominion Freight Line, Q3 2026: revenue $1.6B (+13% year over year), operating margin 28.5%. The chart follows the revenue to costs, profit and cash.

Old Dominion Freight Line: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.