Landstar System vs Saia
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KIRA’s take AI analyst
I put Landstar System and Saia side by side, using each one’s latest annual report. Here is what stands out:
- Landstar System is the larger business, with $4.7B of revenue in fiscal 2025 against $3.2B for Saia.
- Saia grew revenue faster (0.8%, against −1.6%).
- Saia kept more of each dollar of sales as operating profit (10.9% operating margin, against 3.2%).
- Landstar System turned more of its sales into free cash flow (4.5% FCF margin, against 0.9%).
- Landstar System earned a higher return on the capital invested in it (24.9%, against 10.2%).
- Investors pay more for each dollar of Landstar System’s earnings: a P/E of 45.6x against 31.6x for Saia.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Landstar System
LSTR
5/10
FCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Saia
SAIA
5/10
Revenue growth5-year growthOperating marginNet marginPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | LSTR FY25 | SAIA FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.6B | $8.8B |
| Revenue | $4.7B | $3.2B |
| Free cash flow | $215M | $27.3M |
| Net income | $115M | $255M |
| Growth | ||
| Revenue growth | −1.6% | 0.8% |
| 5-year growth | 2.8% | 12.2% |
| Share count change | −2.3% | −0.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 3.2% | 10.9% |
| Net margin | 2.4% | 7.9% |
| FCF margin | 4.5% | 0.9% |
| Return on capital | 24.9% | 10.2% |
| Return on equity | 13.0% | 10.4% |
| Balance sheet | ||
| Net debt | −$375M | $144M |
| Net debt / EBITDA | −1.9x | 0.2x |
| Dividends and buybacks | $305M | $0.0M |
| Valuation & quality | ||
| P/E | 45.6x | 31.6x |
| Piotroski F-score | 4 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.