Logo

SAIA

Saia, Inc.

SAIA

Saia, Inc. • NASDAQ
$281.56 ▲ 0.75% (+2.09)
Market Cap $7.50 B
52w High $581.12
52w Low $229.12
Dividend Yield 0%
P/E 26.59
Volume 175.70K
Outstanding Shares 26.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $839.644M ▲ $94.92M ▲ $86.316M ▲ 10.28% ▲ $3.23 ▲ $183.345M ▲
Q2-2025 $817.115M ▲ $44.862M ▲ $71.391M ▲ 8.737% ▲ $2.67 ▲ $162.852M ▲
Q1-2025 $787.575M ▼ $42.588M ▼ $49.81M ▼ 6.324% ▼ $1.86 ▼ $128.893M ▼
Q4-2024 $788.952M ▼ $46.009M ▲ $76.103M ▼ 9.646% ▼ $2.85 ▼ $155.842M ▼
Q3-2024 $842.103M $39.825M $92.748M 11.014% $3.47 $180.332M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $35.5M ▲ $3.501B ▲ $974.933M ▼ $2.526B ▲
Q2-2025 $18.837M ▲ $3.458B ▲ $1.021B ▲ $2.437B ▲
Q1-2025 $16.535M ▼ $3.365B ▲ $1.005B ▲ $2.36B ▲
Q4-2024 $19.473M ▲ $3.167B ▲ $855.586M ▲ $2.311B ▲
Q3-2024 $14.405M $3.082B $850.639M $2.231B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $86.316M ▲ $177.85M ▲ $-70.505M ▲ $-90.682M ▼ $16.663M ▲ $87.576M ▲
Q2-2025 $71.391M ▲ $170.742M ▲ $-181.904M ▲ $13.464M ▼ $2.302M ▲ $-3.909M ▲
Q1-2025 $49.81M ▼ $109.073M ▼ $-202.063M ▼ $90.052M ▲ $-2.938M ▼ $-93.816M ▼
Q4-2024 $76.103M ▼ $164.739M ▼ $-167.64M ▲ $7.969M ▼ $5.068M ▲ $-3.516M ▲
Q3-2024 $92.748M $181.721M $-191.947M $13.462M $3.236M $-11.662M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, roughly doubling from the start of the period and still inching higher recently even after the freight boom faded. Profitability has improved meaningfully versus early years, showing that Saia converted higher volumes into better earnings rather than just chasing freight. That said, profits and earnings per share have flattened out over the last couple of years despite continued revenue growth, which hints at rising costs, softer pricing, or mix pressure. Overall, this is a solid, profitable income statement for a cyclical trucking business, but it is clearly transitioning from a fast margin expansion phase into a more mature, grind-it-out phase where efficiency and pricing discipline matter more than simple growth.

Balance Sheet

Balance Sheet The balance sheet shows a company that has been steadily building its asset base and shareholder equity over time. Saia has invested heavily in terminals, equipment, and technology, and those investments now represent a much larger physical and operational footprint than a few years ago. Debt remains present but not extreme, although it has stepped up recently as the company leaned into expansion, and the cash balance dropped sharply in the latest year as capital spending surged. In simple terms, the company remains equity-rich and not highly leveraged, but it is clearly using more of its balance sheet to fund growth than it did earlier in the period, which modestly raises financial risk while also supporting a larger network.

Cash Flow

Cash Flow Operating cash flow has been consistently healthy and has grown alongside earnings, which supports the quality of reported profits. For several years, Saia generated positive free cash flow after investments, indicating it could both grow and still have cash left over. In the most recent year, that pattern flipped: free cash flow turned negative because capital spending jumped much faster than cash coming in from operations. This suggests a deliberate, heavy investment cycle—likely in new terminals, fleet, and technology—rather than a deterioration in the core business. The trade-off is clear: stronger future capacity and service potential in exchange for near-term cash strain and a greater need to draw on cash reserves or debt to fund the build-out.

Competitive Edge

Competitive Edge Saia operates in the less-than-truckload niche, where dense networks, reliable service, and disciplined operations are critical. Over the last several years, the company has moved from being mainly a regional carrier to a more national player, especially by expanding in the Northeast and taking advantage of terminal opportunities created by a competitor’s exit. This broader footprint, combined with a service-first culture and performance guarantees, helps differentiate it from rivals that compete mostly on price. However, the LTL market remains very competitive and economically sensitive, with strong peers that also invest heavily. Saia’s network scale, improving service reach, and operational focus give it an increasingly solid position, but its moat is more about relentless execution than about an unassailable dominance.

Innovation and R&D

Innovation and R&D Saia is leaning into practical, operations-focused innovation rather than flashy experimentation. It is using artificial intelligence to improve route planning, staffing, and freight flows, aiming to cut waste and reduce handling. On the customer side, it is investing in better tracking, self-service tools, and simplified interfaces so shippers can see and manage freight more easily. Technology spending has ramped up meaningfully, and planned initiatives focus on network visibility and predictive capacity planning—areas that can directly enhance service quality and asset utilization. Combined with its unique service guarantees and expanded logistics offerings, these investments should deepen customer relationships. Still, many competitors are also modernizing, so Saia’s edge will depend on how well and how quickly it executes these projects, not just on spending levels.

Summary

Over the last five years, Saia has transformed from a smaller, more regional carrier into a larger, more profitable LTL operator with a growing national footprint. Revenue and profits have climbed substantially, although earnings are now leveling off as the cycle normalizes and costs rise. The balance sheet is still relatively conservative, but recent growth has required more debt and a drawdown in cash. Cash flow from operations is solid, yet heavy capital spending has pushed free cash flow negative, reflecting a choice to prioritize expansion and technology over near-term cash accumulation. Strategically, Saia is betting that a denser terminal network, especially after acquiring select facilities from a failed competitor, combined with technology-driven efficiency and customer-centric tools, will support durable service advantages. The opportunity is to emerge as a top-tier, national LTL carrier with stronger pricing power and loyalty; the risks are integration challenges, ongoing capital intensity, and exposure to freight downturns in a highly competitive industry. Overall, Saia appears to be in the middle of a major investment phase, trading short-term financial comfort for the potential of a stronger, more differentiated network in the years ahead.

NEWS

October 30, 2025 · 7:30 AM UTC

Saia Reports Third Quarter Results

Read more

October 22, 2025 · 7:30 AM UTC

Saia Announces Retirement of CIO Rohit Lal and Appointment of Successor Tarak Patel

Read more

September 30, 2025 · 4:30 PM UTC

Saia to Announce Third Quarter 2025 Results on October 30, 2025

Read more

September 5, 2025 · 7:30 AM UTC

Saia Provides Third Quarter LTL Operating Data

Read more