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Knight-Swift

KNX NYSE Cargo Ground Transportation Financials FY2016–FY2025

Knight-Swift's revenue rose 0.8% to $7.5 billion in fiscal 2025. Its operating margin was 2.9%, down from 3.3% a year earlier. Free cash flow was $1.3 billion, up 58.5%. It paid out $117 million in dividends and buybacks, 9% of free cash flow. The diluted share count rose 0.3%.

Last close · Oct 23, 2026

$61.21

2.1%
Value it Compare
Revenue Total sales reported in the income statement.
$7.5B
0.8% vs prior year
Operating margin Operating income as a share of revenue.
2.9%
0.4 pts
Net income Profit after all expenses, interest and tax.
$65.9M
44.0%
Free cash flow Cash from operations minus capital spending.
$1.3B
58.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
1.6%
0.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $0.21 EPS (TTM)

What Knight-Swift does

No business description yet.

Legal name
Knight-Swift Transportation Holdings Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001492691-26-000016
0001492691

Revenue and margins

Knight-Swift had $7.5B of revenue in fiscal 2025, up 0.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −10.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.3B in fiscal 2025, 16.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Knight-Swift returned $117M to shareholders in fiscal 2025, 9% of free cash flow. The diluted share count rose 0.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Knight-Swift yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.1B and divides by 162.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today — · peers 40.5x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Knight-Swift can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $261M$197M$169M$218M$220M
Debt incl. finance leases $1.8B$1.5B$2.2B$2.4B$2.4B
Net debt / EBITDA 1.0x0.7x1.9x2.1x2.1x
Debt / equity 0.3x0.2x0.3x0.3x0.3x
Interest coverage 45.7x21.5x2.7x1.4x1.3x
Current ratio 1.3x1.7x0.9x0.9x0.9x
Quick ratio 1.3x1.7x0.9x0.9x0.9x
Total assets $10.7B$11.0B$12.9B$12.7B$12.0B
Total liabilities $4.1B$4.0B$5.8B$5.6B$4.9B
Shareholders' equity $6.5B$6.9B$7.1B$7.1B$7.1B
Net debt (− = net cash) $1.6B$1.3B$2.0B$2.2B$2.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$23.5M

8 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 13, 2026 Reid DoveCEO AAA Cooper Transportation, Director Sold 126,864 $73.13 $9.3M Form 4
Aug 12, 2026 Ploeg David VanderDirector Sold 2,200 $52.33 $0.1M Form 4
Aug 12, 2026 Reid DoveCEO AAA Cooper Transportation, Director Sold 42,290 $71.49 $3.0M Form 4
Jul 31, 2026 Cary M FlanaganExec VP and CAO Sold 3,600 $70.82 $0.3M Form 4
Jul 31, 2026 Reid DoveDirector Sold 50,000 $70.25 $3.5M Form 4
Feb 26, 2026 Joshua SmithCFO - US Xpress Sold 5,770 $60.91 $0.4M Form 4
Feb 20, 2026 Kevin P KnightExecutive Chairman, Director Sold 30,000 $61.00 $1.8M Form 4
Feb 18, 2026 Kevin P KnightExecutive Chairman, Director Sold 38,857 $59.96 $2.3M Form 4
Feb 17, 2026 Kevin P KnightExecutive Chairman, Director Sold 31,143 $60.07 $1.9M Form 4
Feb 10, 2026 Timothy Sean HarringtonPres - US Xpress Sold 8,500 $59.81 $0.5M Form 4
Feb 4, 2026 James L FitzsimmonsCOO Swift Transportation Sold 5,917 $54.77 $0.3M Form 4
Feb 4, 2026 Michael K LiuEVP - Operations Sold 1,243 $60.87 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 4 / 83 / 86 / 8
Accruals ratio −7.9%−5.3%−9.7%
Altman Z'' 2.082.022.28

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10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.1B $2.4B $5.3B $4.8B $4.7B $6.0B $7.4B $7.1B $7.4B $7.5B
Operating income $149M $201M $569M $427M $564M $966M $1.1B $338M $243M $216M
Interest expense $0.9M $8.7M $30.2M $29.4M $17.3M $21.1M $50.8M $127M $171M $162M
Pretax income $153M $194M $552M $414M $560M $975M $1.0B $270M $149M $95.3M
Income tax $57.6M −$292M $131M $104M $150M $231M $249M $54.8M $33.0M $29.8M
Net income $93.9M $484M $419M $309M $410M $743M $771M $217M $118M $65.9M
Diluted EPS $1.16 $4.34 $2.36 $1.80 $2.40 $4.45 $4.73 $1.34 $0.73 $0.41
Diluted shares 0.08B 0.11B 0.18B 0.17B 0.17B 0.17B 0.16B 0.16B 0.16B 0.16B
Cash flow
Cash from operations $244M $323M $882M $840M $920M $1.2B $1.4B $1.2B $799M $1.3B
Capital expenditure $155M $387M $756M $830M $0.5M $1.4M $0.5M $0.8M $0.4M $1.1M
Free cash flow $89.2M −$64.6M $126M $9.6M $919M $1.2B $1.4B $1.2B $799M $1.3B
Depreciation and amortization $116M $207M $430M $463M $507M $578M $660M $735M $793M $788M
Stock-based compensation $4.0M $6.2M $12.4M $16.0M $26.6M $28.1M $33.9M $27.9M $23.6M $28.6M
Acquisitions $0.0M $92.0M $102M $1.9M $46.8M $1.5B $31.3M $458M $186M $0.0M
Share buybacks $39.9M $0.0M $179M $86.9M $180M $57.2M $300M $0.0M $0.0M $0.0M
Dividends paid $19.6M $25.5M $42.8M $41.4M $54.6M $63.5M $78.3M $91.1M $104M $117M
Dividends and buybacks $59.5M $25.5M $222M $128M $234M $121M $378M $91.2M $104M $117M
Balance sheet
Cash and short-term investments $8.0M $76.6M $82.5M $160M $157M $261M $197M $169M $218M $220M
Total debt $0.0M $365M $365M $644M $509M $1.5B $1.1B $1.6B $1.8B $1.7B
Finance lease liabilities $0.0M $0.0M $0.0M $70.2M $191M $306M $403M $529M $597M $606M
Current assets $190M $923M $907M $890M $923M $1.4B $1.5B $1.7B $1.4B $888M
Current liabilities $78.6M $610M $615M $993M $840M $1.1B $894M $1.8B $1.7B $1.0B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $803M $2.4B $2.6B $2.9B $3.0B $3.6B $3.8B $4.6B $4.7B $4.7B
Total assets $1.1B $7.7B $7.9B $8.3B $8.5B $10.7B $11.0B $12.9B $12.7B $12.0B
Total liabilities $290M $2.4B $2.4B $2.6B $2.6B $4.1B $4.0B $5.8B $5.6B $4.9B
Shareholders' equity $787M $5.2B $5.5B $5.7B $5.9B $6.5B $6.9B $7.1B $7.1B $7.1B
Margins
Operating margin 13.3% 8.3% 10.7% 8.8% 12.1% 16.1% 14.7% 4.7% 3.3% 2.9%
EBITDA margin 23.7% 16.8% 18.7% 18.4% 22.9% 25.7% 23.6% 15.0% 14.0% 13.4%
Net margin 8.4% 20.0% 7.9% 6.4% 8.8% 12.4% 10.4% 3.0% 1.6% 0.9%
FCF margin 8.0% −2.7% 2.4% 0.2% 19.7% 19.8% 19.3% 16.3% 10.8% 16.9%
Returns
Return on capital 8.4% 6.4% 7.7% 5.4% 6.6% 10.2% 10.1% 3.1% 2.1% 1.6%
Return on capital employed 8.4% 5.0% 7.9% 5.9% 7.6% 11.2% 11.1% 3.2% 2.2% 2.0%
Return on equity 12.3% 16.1% 7.8% 5.6% 7.1% 12.0% 11.5% 3.1% 1.7% 0.9%
Return on assets 4.7% 11.1% 5.4% 3.8% 4.9% 7.8% 7.1% 1.8% 0.9% 0.5%
Growth
Revenue growth −5.5% 116.9% 120.3% −9.4% −3.5% 28.3% 23.9% −3.9% 3.8% 0.8%
Net income growth −19.6% 416.0% −13.4% −26.3% 32.6% 81.3% 3.8% −71.9% −45.8% −43.9%
EPS growth −18.3% 274.1% −45.6% −23.7% 33.3% 85.4% 6.3% −71.7% −45.5% −43.8%
FCF growth — −172.4% — −92.4% 9,457.7% 29.3% 20.7% −19.1% −31.2% 58.5%
Share count change −1.5% 37.5% 59.4% −3.3% −0.9% −2.1% −2.3% −0.9% 0.2% 0.3%
Financial health
Net debt / EBITDA −0.0x 0.7x 0.3x 0.6x 0.5x 1.0x 0.7x 1.9x 2.1x 2.1x
Debt / equity 0.0x 0.1x 0.1x 0.1x 0.1x 0.3x 0.2x 0.3x 0.3x 0.3x
Interest coverage 165.5x 23.1x 18.9x 14.5x 32.6x 45.7x 21.5x 2.7x 1.4x 1.3x
Current ratio 2.4x 1.5x 1.5x 0.9x 1.1x 1.3x 1.7x 0.9x 0.9x 0.9x
Quick ratio 2.4x 1.5x 1.5x 0.9x 1.1x 1.3x 1.7x 0.9x 0.9x 0.9x
Capital allocation
Capex / revenue 13.8% 16.0% 14.2% 17.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Stock comp / revenue 0.4% 0.3% 0.2% 0.3% 0.6% 0.5% 0.5% 0.4% 0.3% 0.4%
Payouts / FCF 66.7% — 176.3% 1,334.3% 25.5% 10.2% 26.4% 7.9% 13.0% 9.3%
Quality scores
Piotroski F-score 6.0 4.0 4.0 4.0 7.0 7.0 6.0 4.0 3.0 6.0
Altman Z'' 6.2 3.1 3.6 3.1 3.5 3.2 3.6 2.1 2.0 2.3
Accruals ratio −7.5% 3.7% −5.9% −6.6% −6.1% −4.7% −6.2% −7.9% −5.3% −9.7%

Source: SEC EDGAR XBRL filings (CIK 0001492691). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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