Logo

KNX

Knight-Swift Transportation Holdings Inc.

KNX

Knight-Swift Transportation Holdings Inc. • NYSE
$45.80 ▲ 0.00% (+0.00)
Market Cap $7.43 B
52w High $61.51
52w Low $36.69
Dividend Yield 0.70%
P/E 52.05
Volume 976.29K
Outstanding Shares 162.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.927B ▲ $122.73M ▲ $7.861M ▼ 0.408% ▼ $0.048 ▼ $254.936M ▼
Q2-2025 $1.862B ▲ $48.733M ▼ $34.243M ▲ 1.839% ▲ $0.21 ▲ $284.586M ▲
Q1-2025 $1.824B ▼ $368.879M ▼ $30.639M ▼ 1.679% ▼ $0.19 ▼ $248.135M ▼
Q4-2024 $1.864B ▼ $382.527M ▲ $69.497M ▲ 3.728% ▲ $0.43 ▲ $268.174M ▼
Q3-2024 $1.877B $366.997M $30.464M 1.623% $0.19 $270.857M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $294.354M ▼ $12.619B ▲ $5.498B ▲ $7.112B ▼
Q2-2025 $339.372M ▼ $12.523B ▼ $5.391B ▼ $7.125B ▲
Q1-2025 $344.632M ▼ $12.606B ▼ $5.483B ▼ $7.115B ▲
Q4-2024 $365.945M ▲ $13.075B ▲ $5.958B ▲ $7.109B ▲
Q3-2024 $317.218M $12.825B $5.759B $7.059B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.861M ▼ $217.502M ▲ $-234.893M ▼ $-27.551M ▲ $-45.018M ▼ $151.202M ▼
Q2-2025 $34.243M ▲ $216.5M ▲ $-135.398M ▼ $-85.283M ▼ $-5.26M ▲ $166.3M ▲
Q1-2025 $30.639M ▼ $109.429M ▼ $-54.219M ▲ $-76.303M ▲ $-21.313M ▼ $-12.619M ▼
Q4-2024 $69.127M ▲ $274.322M ▲ $-140.102M ▲ $-84.902M ▼ $49.318M ▲ $47.565M ▲
Q3-2024 $30.059M $214.041M $-360.179M $127.793M $-18.345M $-5.691M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Revenue excluding truckload fuel surcharge
Revenue excluding truckload fuel surcharge
 $1.68Bn ▲$1.63Bn ▼$1.67Bn ▲$1.72Bn ▲
Truckload fuel surcharge revenue
Truckload fuel surcharge revenue
 $190.00M ▲$190.00M ▲$190.00M ▲$210.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown over the past five years and stayed relatively high, but profit quality has clearly come under pressure. Margins were strong in the freight boom years and then compressed as the trucking cycle turned, costs rose, and pricing power weakened. Operating income and net income have fallen significantly from prior peaks, and earnings per share have dropped sharply. Overall, the business is still large and diversified, but it is currently operating in a tougher profitability environment than a few years ago.

Balance Sheet

Balance Sheet The balance sheet shows a larger company than five years ago, with total assets and shareholder equity steadily built up, helped by acquisitions and retained earnings over time. Debt levels have risen along with growth, so leverage is higher than in the past but still appears supportable relative to the size of the asset base and equity cushion. Cash on hand is modest but fairly stable, suggesting the company relies more on ongoing cash generation and credit access than on large cash reserves. In short, it is a scaled, asset-heavy balance sheet with more leverage than before but not out of line for a big fleet operator.

Cash Flow

Cash Flow The business still generates healthy cash from operations, but those inflows have eased from their best levels as profits softened. At the same time, Knight-Swift has been spending heavily on trucks, trailers, terminals, and related investments, which has pushed free cash flow down, even slightly negative in the most recent year. That pattern signals a deliberate choice to reinvest through the down cycle—supporting fleet renewal, network build-out, and integration—rather than maximizing near-term cash. The key watch point is whether these investments translate into stronger, more stable cash generation when freight conditions improve.

Competitive Edge

Competitive Edge Knight-Swift holds a top-tier position as the largest full truckload carrier in North America, with a broad network, dense freight lanes, and a national terminal footprint that many rivals cannot match. Its strategy of building freight density through regional hubs, heavy contract business, and a wide mix of services—truckload, LTL, logistics, intermodal, and power-only—gives it meaningful scale advantages and flexibility. Recent acquisitions further widen its reach, especially in LTL. The flip side is complexity: integrating multiple acquisitions, managing a large driver base, and operating across volatile freight markets all add execution risk. Still, in terms of size, breadth of services, and network coverage, the competitive position is a core strength.

Innovation and R&D

Innovation and R&D Innovation at Knight-Swift is focused on practical, operations-driven technology rather than lab-style R&D. The company is leaning into data analytics, AI, and automation to optimize routing, cut empty miles, improve fuel usage, and predict maintenance needs. It has invested in digital freight platforms and driver-facing apps to streamline workflows and give customers better visibility. Safety tech, including AI-enabled dash cams, supports both risk reduction and cost control. Partnerships in autonomous trucking and alternative fuels show a willingness to experiment with longer-term, higher-uncertainty technologies. Overall, the company is clearly positioning itself as a tech-enabled carrier, though the financial payoff from newer bets like autonomy and zero-emission trucks will likely take time and depend on industry-wide adoption.

Summary

Knight-Swift today is a large, diversified trucking and logistics platform whose scale and network are clear advantages, but whose earnings are currently feeling the weight of a weaker freight cycle and higher costs. The income statement tells a story of strong growth followed by margin compression; the balance sheet reflects a bigger, more leveraged but still solid asset base; and cash flows show a trade-off between near-term free cash and heavy reinvestment. Strategically, the company benefits from its leadership position, dense freight network, and growing LTL presence, while its sustained push into technology, safety, digital platforms, autonomous partnerships, and sustainability initiatives could reinforce its moat over time. Key uncertainties revolve around freight demand cycles, integration of acquisitions, execution on technology rollouts, and whether today’s investment-heavy approach produces meaningfully stronger, more resilient profitability in the next upturn.

NEWS

November 7, 2025 · 9:00 AM UTC

Knight-Swift Transportation Holdings Inc. Announces Quarterly Cash Dividend

Read more

October 22, 2025 · 4:05 PM UTC

Knight-Swift Transportation Holdings Inc. Announces Results for Third Quarter 2025

Read more

September 2, 2025 · 4:10 PM UTC

Knight-Swift Transportation Holdings Inc. Endorses Union Pacific – Norfolk Southern Merger

Read more