CVLG NYSE Trucking (No Local) Financials FY2014βFY2025
Covenant Logistics Group, Inc. had $1.1B of revenue in fiscal 2025. Over five years, revenue changed +5.6% a year on average.
Last close Β· Oct 26, 2026
$29.03
+$9.00 (+44.93%) past year
Hi! I read Covenant Logistics Group, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Does it make a profit?
5.0%
A little. It keeps 5.0% of every sale as profit.
Does profit turn into cash?
β12.0%
No. It spent more cash than it brought in.
Is debt under control?
2.3x
Keep an eye on it. Repaying its debt would take 2.3 years of operating profit.
How is the share priced?
15.9x
One share costs 15.9 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA summarises the numbers
Covenant Logistics Group, Inc. had $1.1B of revenue in fiscal 2025.
Over five years, revenue changed +5.6% a year on average.
Its operating margin was 5.3%, down 4.6Β pts: of every 100 in sales, about 5 is left after running the business.
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Loss periods are shown in red.
KIRA summarises the numbers
Covenant Logistics Group, Inc. made $55.2M of net profit in fiscal 2025.
From fiscal 2014 to 2025, diluted EPS grew 6.3% a year.
Net income
Net income
Diluted EPS
Diluted EPS
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
KIRA summarises the numbers
Free cash flow was β$133M in fiscal 2025, β12.0% of revenue.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
KIRA summarises the numbers
Covenant Logistics Group, Inc. returned $31.2M to shareholders in fiscal 2025.
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
In the last 12 months, insiders sold $15.1M of shares on the open market and bought none.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$15.1M
6 insiders
Of sales under plans
8%
$1.2M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 1, 2026 | Joey BallardEVP, Chief People & Safety Off | Sold plan | 4,000 | $40.15 | $0.2M | Form 4 |
| May 27, 2026 | Joey B HoganDirector | Sold | 12,800 | $39.18 | $0.5M | Form 4 |
| May 26, 2026 | Joey BallardEVP, Chief People & Safety Off | Sold plan | 3,718 | $38.00 | $0.1M | Form 4 |
| May 22, 2026 | Joey BallardEVP, Chief People & Safety Off | Sold plan | 4,282 | $37.40 | $0.2M | Form 4 |
| Apr 29, 2026 | D Michael KramerDirector | Sold | 2,650 | $34.72 | $0.1M | Form 4 |
| Apr 28, 2026 | Joey B HoganDirector | Sold | 14,700 | $34.76 | $0.5M | Form 4 |
| Apr 20, 2026 | James S Grant IIIEVP and CFO | Sold plan | 22,388 | $30.75 | $0.7M | Form 4 |
| Feb 20, 2026 | Jacqueline F Parker10% owner | Sold | 30,400 | $29.18 | $0.9M | Form 4 |
| Feb 19, 2026 | Jacqueline F Parker10% owner | Sold | 55,000 | $29.38 | $1.6M | Form 4 |
| Feb 18, 2026 | Jacqueline F Parker10% owner | Sold | 65,000 | $29.34 | $1.9M | Form 4 |
| Feb 17, 2026 | David Ray ParkerChairman and CEO, Director, 10% owner | Sold | 100,000 | $29.67 | $3.0M | Form 4 |
| Feb 13, 2026 | David Ray ParkerChairman and CEO, Director, 10% owner | Sold | 15,000 | $28.46 | $0.4M | Form 4 |
| Feb 12, 2026 | David Ray ParkerChairman and CEO, Director, 10% owner | Sold | 20,000 | $29.02 | $0.6M | Form 4 |
| Feb 11, 2026 | Jacqueline F Parker10% owner | Sold | 27,400 | $29.35 | $0.8M | Form 4 |
| Feb 10, 2026 | Jacqueline F Parker10% owner | Sold | 70,000 | $29.05 | $2.0M | Form 4 |
| Feb 9, 2026 | Jacqueline F Parker10% owner | Sold | 56,000 | $28.66 | $1.6M | Form 4 |
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Covenant Logistics Group, Inc. can carry it.
KIRA summarises the numbers
Covenant Logistics Group, Inc. owes $296M more than it holds in cash, about 2.3 years of operating profit.
Cash vs debt (incl. leases)
| Fiscal year end | FY19 | FY20 | FY21 | FY22 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $43.6M | $8.4M | $8.4M | $68.7M | $4.9M |
| Debt incl. finance leases | $288M | $71.9M | $36.9M | $115M | $301M |
| Net debt / EBITDA | 2.7x | 1.2x | 0.2x | 0.3x | 2.3x |
| Debt / equity | 0.7x | 0.2x | 0.1x | 0.3x | 0.7x |
| Interest coverage | 1.1x | β2.1x | 24.1x | 39.1x | 7.4x |
| Current ratio | 1.6x | 1.1x | 1.3x | 1.4x | 1.1x |
| Quick ratio | 1.6x | 1.1x | 1.3x | 1.4x | 1.1x |
| Total assets | $882M | $677M | $652M | $797M | $1.0B |
| Total liabilities | $532M | $386M | $302M | $420M | $642M |
| Shareholders' equity | $350M | $291M | $350M | $377M | $404M |
| Net debt (β = net cash) | $244M | $63.5M | $28.5M | $46.4M | $296M |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
KIRA summarises the numbers
Its return on capital was 6.4%: every 100 invested in the business earned about 6 in a year.
Return on capital, equity and assets (annual)
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
| Test | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 6 / 8 | 7 / 8 | 5 / 8 | 3 / 8 | 5 / 8 | 8 / 8 | 5 / 8 | β / 3 |
| Accruals ratio | β10.4% | β7.3% | β13.5% | β4.3% | β11.6% | β6.7% | β13.6% | β1.9% | β7.0% | β2.8% |
| Altman Z'' | 1.72 | 2.07 | 2.03 | 2.77 | 2.88 | 2.22 | 1.59 | 3.50 | 3.86 | 2.05 |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
| Fiscal year | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $719M | $724M | $671M | $705M | $880M | $885M | $839M | $1.0B | $1.2B | $1.1B |
| Operating income | $39.6M | $67.8M | $32.4M | $28.2M | $55.4M | $8.8M | β$14.0M | $67.2M | $121M | $58.8M |
| Interest expense | $10.8M | $8.4M | $8.2M | $8.3M | $7.3M | $8.2M | $6.8M | $2.8M | $3.1M | $8.0M |
| Pretax income | $32.6M | $63.9M | $27.2M | $23.3M | $55.8M | $7.6M | β$16.9M | $79.2M | $143M | $72.2M |
| Income tax | $14.8M | $21.8M | $10.4M | β$32.1M | $14.9M | $2.3M | β$2.8M | $21.0M | $34.9M | $17.6M |
| Net income | $17.8M | $42.1M | $16.8M | $55.4M | $42.5M | $8.5M | β$42.7M | $60.7M | $109M | $55.2M |
| Diluted EPS | $1.15 | $2.30 | $0.92 | $3.02 | $2.30 | $0.45 | β$2.46 | $3.57 | $3.50 | $2.00 |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.03B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | $73.7M | $85.5M | $102M | $82.9M | $125M | $64.0M | $63.0M | $73.2M | $159M | $84.8M |
| Capital expenditure | $164M | $182M | $113M | $111M | $75.1M | $138M | $94.0M | $35.3M | $100M | $218M |
| Free cash flow | β$89.9M | β$96.5M | β$10.4M | β$27.9M | $49.7M | β$74.2M | β$31.0M | $37.9M | $58.8M | β$133M |
| Depreciation and amortization | $49.0M | $62.0M | $71.6M | $72.4M | $75.8M | $80.5M | $65.5M | $53.9M | $57.5M | $69.9M |
| Stock-based compensation | $1.3M | $1.3M | $1.2M | $1.0M | $4.8M | β | β | $9.1M | $6.6M | $7.1M |
| Acquisitions | β | β | β | β | $106M | $0.0M | $0.0M | $0.0M | $38.5M | $108M |
| Share buybacks | β | $5.0M | β | β | $0.0M | $0.0M | $17.5M | $10.3M | $84.7M | $25.4M |
| Dividends paid | β | β | β | β | β | β | β | $0.0M | $4.3M | $5.8M |
| Dividends and buybacks | β | $5.0M | β | β | $0.0M | $0.0M | $17.5M | $10.3M | $89.0M | $31.2M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $21.3M | $4.5M | $7.8M | $15.4M | $23.1M | $43.6M | $8.4M | $8.4M | $68.7M | $4.9M |
| Total debt | $187M | $235M | $194M | $189M | $195M | $255M | $55.5M | $26.1M | $109M | $298M |
| Finance lease liabilities | β | β | β | β | β | $33.3M | $16.4M | $10.8M | $5.8M | $3.2M |
| Current assets | $142M | $173M | $135M | $162M | $212M | $254M | $148M | $189M | $223M | $233M |
| Current liabilities | $101M | $126M | $87.8M | $81.2M | $127M | $161M | $133M | $143M | $156M | $210M |
| Property and equipment, net | $382M | $454M | $465M | $464M | $451M | $517M | $391M | $346M | $408M | β |
| Goodwill | $0.0M | $0.0M | $0.0M | $0.0M | $41.6M | $42.5M | $42.5M | $42.5M | $58.2M | $80.5M |
| Intangible assets | $0.2M | $0.2M | $0.0M | $0.0M | $32.5M | $29.6M | $24.5M | $20.5M | $48.2M | $106M |
| Total assets | $539M | $647M | $621M | $650M | $774M | $882M | $677M | $652M | $797M | $1.0B |
| Total liabilities | $370M | $445M | $384M | $354M | $430M | $532M | $386M | $302M | $420M | $642M |
| Shareholders' equity | $169M | $202M | $236M | $295M | $343M | $350M | $291M | $350M | $377M | $404M |
| Margins | ||||||||||
| Operating margin | 5.5% | 9.4% | 4.8% | 4.0% | 6.3% | 1.0% | β1.7% | 6.4% | 9.9% | 5.3% |
| EBITDA margin | 12.3% | 17.9% | 15.5% | 14.3% | 14.9% | 10.1% | 6.1% | 11.6% | 14.6% | 11.7% |
| Net margin | 2.5% | 5.8% | 2.5% | 7.9% | 4.8% | 1.0% | β5.1% | 5.8% | 8.9% | 5.0% |
| FCF margin | β12.5% | β13.3% | β1.5% | β4.0% | 5.6% | β8.4% | β3.7% | 3.6% | 4.8% | β12.0% |
| Returns | ||||||||||
| Return on capital | 7.7% | 10.3% | 5.0% | 6.0% | 7.9% | 1.1% | β3.3% | 13.4% | 21.8% | 6.4% |
| Return on capital employed | 9.0% | 13.0% | 6.1% | 5.0% | 8.6% | 1.2% | β2.6% | 13.2% | 18.8% | 7.0% |
| Return on equity | 10.5% | 22.7% | 7.7% | 20.9% | 13.3% | 2.4% | β13.3% | 19.0% | 29.9% | 13.7% |
| Return on assets | 3.3% | 7.1% | 2.7% | 8.7% | 6.0% | 1.0% | β5.5% | 9.1% | 15.0% | 5.3% |
| Return on tangible equity | 10.5% | 20.8% | 7.1% | 18.8% | 15.8% | 3.0% | β19.1% | 21.2% | 40.1% | 25.3% |
| Growth | ||||||||||
| Revenue growth | β | 0.7% | β7.4% | 5.1% | 24.9% | 0.6% | β5.3% | 24.7% | 16.3% | β |
| Net income growth | β | 136.3% | β60.0% | 229.3% | β23.3% | β80.1% | β603.9% | β | 79.0% | β |
| EPS growth | β | 100.0% | β60.0% | 228.3% | β23.8% | β80.4% | β646.7% | β | β2.0% | β |
| FCF growth | β | β | β | β | β | β249.5% | β | β | 54.9% | β |
| Share count change | β | 18.0% | β0.2% | 0.6% | 0.5% | 0.9% | β6.9% | β1.9% | 82.4% | β |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.9x | 1.8x | 1.8x | 1.7x | 1.3x | 2.7x | 1.2x | 0.2x | 0.3x | 2.3x |
| Debt / equity | 1.1x | 1.2x | 0.8x | 0.6x | 0.6x | 0.7x | 0.2x | 0.1x | 0.3x | 0.7x |
| Interest coverage | 3.7x | 8.0x | 3.9x | 3.4x | 7.5x | 1.1x | β2.1x | 24.1x | 39.1x | 7.4x |
| Current ratio | 1.4x | 1.4x | 1.5x | 2.0x | 1.7x | 1.6x | 1.1x | 1.3x | 1.4x | 1.1x |
| Quick ratio | 1.4x | 1.4x | 1.5x | 2.0x | 1.7x | 1.6x | 1.1x | 1.3x | 1.4x | 1.1x |
| Capital allocation | ||||||||||
| Capex / revenue | 22.8% | 25.1% | 16.8% | 15.7% | 8.5% | 15.6% | 11.2% | 3.4% | 8.3% | 19.7% |
| Stock comp / revenue | 0.2% | 0.2% | 0.2% | 0.1% | 0.5% | β | β | 0.9% | 0.5% | 0.6% |
| Payouts / FCF | β | β | β | β | 0.0% | β | β | 27.3% | 151.5% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 6.0 | 7.0 | 5.0 | 3.0 | 5.0 | 8.0 | 5.0 | β |
| Altman Z'' | 1.7 | 2.1 | 2.0 | 2.8 | 2.9 | 2.2 | 1.6 | 3.5 | 3.9 | 2.1 |
| Accruals ratio | β10.4% | β7.3% | β13.5% | β4.3% | β11.6% | β6.7% | β13.6% | β1.9% | β7.0% | β2.8% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
Source: SEC EDGAR XBRL filings (CIK 0000928658). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
