Knight-Swift vs Old Dominion
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The short version
- Knight-Swift is the larger business, with $7.5B of revenue in fiscal 2025 against $5.5B for Old Dominion.
- Knight-Swift grew revenue faster (0.8%, against −5.5%).
- Old Dominion kept more of each dollar of sales as operating profit (24.8% operating margin, against 2.9%).
- Old Dominion earned a higher return on the capital invested in it (24.3%, against 1.6%).
| Latest fiscal year | KNX · FY25 | ODFL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.0B | $38.1B |
| Revenue | $7.5B | $5.5B |
| Free cash flow | $1.3B | $955M |
| Net income | $65.9M | $1.0B |
| Growth | ||
| Revenue growth | 0.8% | −5.5% |
| 5-year growth | 9.8% | 6.5% |
| Share count change | 0.3% | −2.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 2.9% | 24.8% |
| Net margin | 0.9% | 18.6% |
| FCF margin | 16.9% | 17.4% |
| Return on capital | 1.6% | 24.3% |
| Return on equity | 0.9% | 23.9% |
| Balance sheet | ||
| Net debt | $2.1B | −$80.1M |
| Net debt / EBITDA | 2.1x | −0.1x |
| Dividends and buybacks | $117M | $966M |
| Valuation & quality | ||
| P/E | — | 35.1x |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
KNX $1.1B
ODFL $3.0B
FY17
KNX $2.4B
ODFL $3.4B
FY18
KNX $5.3B
ODFL $4.0B
FY19
KNX $4.8B
ODFL $4.1B
FY20
KNX $4.7B
ODFL $4.0B
FY21
KNX $6.0B
ODFL $5.3B
FY22
KNX $7.4B
ODFL $6.3B
FY23
KNX $7.1B
ODFL $5.9B
FY24
KNX $7.4B
ODFL $5.8B
FY25
KNX $7.5B
ODFL $5.5B
KNX
ODFL
Operating margin
FY16
KNX 13.3%
ODFL 16.2%
FY17
KNX 8.3%
ODFL 17.2%
FY18
KNX 10.7%
ODFL 20.2%
FY19
KNX 8.8%
ODFL 19.9%
FY20
KNX 12.1%
ODFL 22.6%
FY21
KNX 16.1%
ODFL 26.5%
FY22
KNX 14.7%
ODFL 29.4%
FY23
KNX 4.7%
ODFL 28.0%
FY24
KNX 3.3%
ODFL 26.6%
FY25
KNX 2.9%
ODFL 24.8%
KNX
ODFL
Free cash flow
FY16
KNX $89.2M
ODFL $148M
FY17
KNX −$64.6M
ODFL $154M
FY18
KNX $126M
ODFL $312M
FY19
KNX $9.6M
ODFL $505M
FY20
KNX $919M
ODFL $708M
FY21
KNX $1.2B
ODFL $663M
FY22
KNX $1.4B
ODFL $916M
FY23
KNX $1.2B
ODFL $812M
FY24
KNX $799M
ODFL $888M
FY25
KNX $1.3B
ODFL $955M
KNX
ODFL
Return on capital
FY16
KNX 8.4%
ODFL 16.0%
FY17
KNX 6.4%
ODFL 22.1%
FY18
KNX 7.7%
ODFL 25.4%
FY19
KNX 5.4%
ODFL 23.3%
FY20
KNX 6.6%
ODFL 25.0%
FY21
KNX 10.2%
ODFL 36.0%
FY22
KNX 10.1%
ODFL 41.8%
FY23
KNX 3.1%
ODFL 33.3%
FY24
KNX 2.1%
ODFL 29.0%
FY25
KNX 1.6%
ODFL 24.3%
KNX
ODFL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.