Knight-Swift vs Saia
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The short version
- Knight-Swift is the larger business, with $7.5B of revenue in fiscal 2025 against $3.2B for Saia, about 2.3 times as much.
- Saia kept more of each dollar of sales as operating profit (10.9% operating margin, against 2.9%).
- Knight-Swift turned more of its sales into free cash flow (16.9% FCF margin, against 0.9%).
- Saia earned a higher return on the capital invested in it (10.2%, against 1.6%).
| Latest fiscal year | KNX · FY25 | SAIA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.0B | $8.9B |
| Revenue | $7.5B | $3.2B |
| Free cash flow | $1.3B | $27.3M |
| Net income | $65.9M | $255M |
| Growth | ||
| Revenue growth | 0.8% | 0.8% |
| 5-year growth | 9.8% | 12.2% |
| Share count change | 0.3% | −0.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 2.9% | 10.9% |
| Net margin | 0.9% | 7.9% |
| FCF margin | 16.9% | 0.9% |
| Return on capital | 1.6% | 10.2% |
| Return on equity | 0.9% | 10.4% |
| Balance sheet | ||
| Net debt | $2.1B | $144M |
| Net debt / EBITDA | 2.1x | 0.2x |
| Dividends and buybacks | $117M | $0.0M |
| Valuation & quality | ||
| P/E | — | 32.1x |
| Piotroski F-score | 6 | 6 |
FY16
KNX $1.1B
SAIA $1.3B
FY17
KNX $2.4B
SAIA $1.4B
FY18
KNX $5.3B
SAIA $1.7B
FY19
KNX $4.8B
SAIA $1.8B
FY20
KNX $4.7B
SAIA $1.8B
FY21
KNX $6.0B
SAIA $2.3B
FY22
KNX $7.4B
SAIA $2.8B
FY23
KNX $7.1B
SAIA $2.9B
FY24
KNX $7.4B
SAIA $3.2B
FY25
KNX $7.5B
SAIA $3.2B
KNX
SAIA
FY16
KNX 13.3%
SAIA 6.3%
FY17
KNX 8.3%
SAIA 6.7%
FY18
KNX 10.7%
SAIA 8.5%
FY19
KNX 8.8%
SAIA 8.5%
FY20
KNX 12.1%
SAIA 9.9%
FY21
KNX 16.1%
SAIA 14.6%
FY22
KNX 14.7%
SAIA 16.9%
FY23
KNX 4.7%
SAIA 16.0%
FY24
KNX 3.3%
SAIA 15.0%
FY25
KNX 2.9%
SAIA 10.9%
KNX
SAIA
FY16
KNX $89.2M
SAIA $27.1M
FY17
KNX −$64.6M
SAIA −$28.9M
FY18
KNX $126M
SAIA $32.8M
FY19
KNX $9.6M
SAIA −$14.8M
FY20
KNX $919M
SAIA $78.0M
FY21
KNX $1.2B
SAIA $96.9M
FY22
KNX $1.4B
SAIA $106M
FY23
KNX $1.2B
SAIA $138M
FY24
KNX $799M
SAIA −$460M
FY25
KNX $1.3B
SAIA $27.3M
KNX
SAIA
FY16
KNX 8.4%
SAIA 9.6%
FY17
KNX 6.4%
SAIA 15.0%
FY18
KNX 7.7%
SAIA 14.3%
FY19
KNX 5.4%
SAIA 13.4%
FY20
KNX 6.6%
SAIA 14.5%
FY21
KNX 10.2%
SAIA 23.5%
FY22
KNX 10.1%
SAIA 27.8%
FY23
KNX 3.1%
SAIA 22.7%
FY24
KNX 2.1%
SAIA 17.7%
FY25
KNX 1.6%
SAIA 10.2%
KNX
SAIA
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.