Knight-Swift Transportation Holdings Inc. KNX
Certain acronyms and terms used throughout this Annual Report are specific to our company, commonly used in our industry, or are otherwise frequently used throughout our document. Definitions for these acronyms and terms are provided in the "Glossary of Terms," available in the front of this document.
Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight transportation companies, providing multiple full truckload, LTL, intermodal, and other complementary services. Our objective is to operate our business with industry-leading margins, continued organic growth and growth through acquisitions while providing safe, high-quality, cost-effective solutions for our customers. Knight-Swift uses a nationwide network of business units and terminals in the US and Mexico to serve customers throughout North America. In addition to operating one of the country's largest truckload fleets, Knight-Swift also contracts with third-party carriers to provide a broad range of transportation services to our customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.47B | $7.41B | $7.14B | $7.43B | $6.00B | $4.67B | $4.84B | $5.34B | $2.43B | $1.12B |
| Total operating expenses | $7.25B | $7.17B | $6.80B | $6.34B | $5.03B | $4.11B | $4.42B | $4.78B | $2.22B | $969.6M |
| Operating income | $216.1M | $243.4M | $338.2M | $1.09B | $965.7M | $564.4M | $427.4M | $569.0M | $200.6M | $148.5M |
| Interest expense | $161.8M | $171.2M | $127.1M | $50.8M | $21.1M | $17.3M | $29.4M | $30.2M | $8.7M | $897.0K |
| Pre-tax income | $95.3M | $149.0M | $270.3M | $1.02B | $974.6M | $560.3M | $414.0M | $552.0M | $193.7M | $152.8M |
| Income tax | $29.8M | $33.0M | $54.8M | $249.4M | $230.9M | $149.7M | $103.8M | $131.4M | $291.7M | $57.6M |
| Net income | $65.9M | $117.6M | $217.1M | $771.3M | $743.4M | $410.0M | $309.2M | $419.3M | $484.3M | $93.9M |
| EPS, basic | 0.41 | 0.73 | 1.35 | 4.75 | 4.48 | 2.42 | 1.80 | 2.37 | 4.38 | 1.17 |
| EPS, diluted | 0.41 | 0.73 | 1.34 | 4.73 | 4.45 | 2.40 | 1.80 | 2.36 | 4.34 | 1.16 |
| Shares, diluted (wtd. avg.) | $162.6M | $162.2M | $161.8M | $163.2M | $167.1M | $170.5M | $172.1M | $178.0M | $111.7M | $81.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $220.4M | $218.3M | $168.5M | $385.3M | $350.0M | $197.3M | $202.2M | $131.0M | $151.7M | $9.4M |
| Receivables | $305.3M | $803.7M | $888.6M | $842.3M | $911.3M | $578.5M | $518.5M | $601.2M | $574.3M | $133.8M |
| Total current assets | $887.5M | $1.45B | $1.71B | $1.49B | $1.41B | $923.4M | $890.0M | $907.2M | $923.2M | $190.2M |
| Property, plant and equipment | $4.72B | $4.70B | $4.62B | $3.84B | $3.56B | $2.99B | $2.85B | $2.61B | $2.38B | $802.9M |
| Goodwill | $3.93B | $3.96B | $3.85B | $3.52B | $3.52B | $2.92B | $2.92B | $2.92B | $2.89B | $47.0M |
| Other intangibles | $1.94B | $2.06B | $2.06B | $1.78B | $1.83B | $1.39B | $1.38B | $1.42B | $1.44B | $2.6M |
| Total assets | $11.96B | $12.70B | $12.87B | $10.95B | $10.66B | $8.47B | $8.28B | $7.91B | $7.68B | $1.08B |
| Accounts payable | $200.8M | $329.7M | $355.2M | $220.8M | $224.8M | $101.0M | $99.2M | $117.9M | $119.9M | $18.0M |
| Short-term debt | — | — | — | — | — | — | $364.8M | $421.0K | $30.0K | $0 |
| Total current liabilities | $1.03B | $1.71B | $1.83B | $894.0M | $1.07B | $839.7M | $993.0M | $614.6M | $609.5M | $78.7M |
| Long-term debt | $1.74B | $1.83B | $1.63B | $1.08B | $1.51B | $508.9M | $643.8M | $364.6M | $364.8M | $0 |
| Total liabilities | $4.86B | $5.58B | $5.77B | $4.00B | $4.11B | $2.60B | $2.61B | $2.45B | $2.44B | $289.8M |
| Retained earnings | $2.60B | $2.66B | $2.66B | $2.55B | $2.18B | $1.57B | $1.40B | $1.22B | $1.02B | $562.4M |
| Total equity | $7.08B | $7.11B | $7.10B | $6.96B | $6.54B | $5.87B | $5.67B | $5.46B | $5.24B | $788.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.27B | $799.1M | $1.16B | $1.44B | $1.19B | $919.6M | $839.6M | $882.0M | $322.6M | $243.8M |
| Depreciation and amortisation | $788.1M | $792.8M | $735.1M | $659.8M | $577.9M | $506.7M | $463.0M | $430.1M | $207.1M | $116.2M |
| Stock-based compensation | — | — | — | — | — | — | — | — | $6.2M | $4.0M |
| Capital expenditure | — | — | — | — | — | — | $830.0M | $756.0M | $387.2M | $154.6M |
| Investing cash flow | -$520.4M | -$759.1M | -$1.23B | -$646.2M | -$1.82B | -$480.7M | -$583.7M | -$647.3M | -$204.3M | -$101.1M |
| Financing cash flow | -$807.7M | -$139.4M | $150.7M | -$754.3M | $779.3M | -$443.9M | -$184.6M | -$255.4M | $24.0M | -$143.0M |
| Dividends paid | $117.4M | $104.2M | $91.1M | $78.3M | $63.5M | $54.6M | $41.4M | $42.8M | $25.5M | $19.6M |
| Buybacks | — | $0 | $0 | $299.9M | $57.2M | $179.6M | $86.9M | $179.3M | $0 | $39.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001492691-26-000016.
Others in SIC 4213
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ODFL | OLD DOMINION FREIGHT LINE, INC. | $38.54B | 38.4x | -5.5% |
| JBHT | HUNT J B TRANSPORT SERVICES INC | $25.71B | 44.7x | -0.7% |
| SAIA | SAIA INC | $9.55B | 37.6x | 0.8% |
| SNDR | Schneider National, Inc. | $6.14B | 59.4x | 7.3% |
| LSTR | LANDSTAR SYSTEM INC | $6.04B | 53.8x | -1.6% |
| ARCB | ARCBEST CORP /TX/ | $3.15B | 53.9x | -4.0% |
| WERN | WERNER ENTERPRISES INC | $2.40B | — | -1.9% |
| MRTN | MARTEN TRANSPORT LTD | $1.18B | 68.6x | -8.3% |