This Stock-Split Stock Is Up 269% Over the Past 5 Years. Here's Why
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Old Dominion Freight Line (NASDAQ: ODFL) has seen its stock increase over 13,000% since 2003 on a split-adjusted basis. The company has split its shares five times since 2003, with the most recent split being 2-for-1 in March 2024. While stock splits don't meaningfully alter the fundamentals of a stock investment, Old Dominion's strong fundamentals make it an attractive investment. The company is comparatively undervalued when compared to its competitor Saia, Inc (NASDAQ: SAIA), with a lower price-to-earnings ratio and price-to-free cash flow per share. Old Dominion also has an enviable balance sheet, pays a dividend, and regularly repurchases shares. It is a strong choice for investors looking to capitalize on the move to shorten supply chains by manufacturing more goods in America. Despite the negative economic outlook, Old Dominion has held up well and can be viewed as a bet on continued strength in the American economy. The Motley Fool Stock Advisor analyst team did not include Old Dominion Freight Line in their list of top stocks to buy, but the company has a strong track record of performance.

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