Knight-Swift Transportation Holdings Inc.

Trucking (No Local)

KNXStrained9 of 11 basics passed

$64.47

-0.89%

Market cap $10.5B

$64.47

-0.89%

Market cap $10.5B

Knight-Swift Transportation is the largest full-truckload carrier in the US, with a diversified transportation offering. Roughly 82% of revenue derives from Knight's asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) making up 63% and less than truckload 19%.

It is a $10.5B industrial company. Revenue grew 4.1% over the last year, it keeps 1¢ of every dollar of sales as profit, and its net debt equals ~1.1 years of free cash flow. It trades at 244.4× earnings — in the most expensive third of its own history.

Website: knight-swift.com
Location: Phoenix, AZ
Employees: 37 100
Sector: Industrials
Founded: 1990

Share price · 3 years

$49.46 → $64.47+30.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $7.73B
Profit: keeps 1¢ of every $1 sold; $42.9M
Free cash flow: cash left after running the business; $545M
Net debt: debt minus cash on hand; $600M
P/E: years of profit in the price; 244.4
EPS: earnings per share, TTM; $0.26
Dividend: pays out 122% of profit · 23% of FCF; 1.18%
Shares: up 20% since 2016 — dilution; 162.6M
Volatility: beta vs the market — under 1 swings less; 1.22

Revenue, last 9 years

52-week range

Low $41.68$64.47High $82.45

Today's price is 56% of the way from the year's low to its high.

P/E vs its history5y

244.4×median 34.7×

Higher than 88% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

244.4×

12%

P/S

1.4×

21%

EV/EBITDA

62.3×

P/B

1.5×

12%

FCF yield

5.2%

93%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$16.2Mnet selling

Purchases$0

Sales$16.2M

Insiders trading, last 14d0 buy · 0 sell

Standing in Industrials

Size$10.5Btop 80%
Revenue growth+0%top 70%
Net margin1%top 96%
Return on equity1%top 97%
P/E244.4×top 98%
Dividend yield1.18%top 46%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Growth, Profitability, Health and Moat lag behind.

Valuation65

P/E vs own history88th pct · 0/25
FCF yield5.2% · 20/25
P/S1.4x · 25/25
EV/EBITDA12.7x · 20/25

Growth37

Revenue CAGR5.6% · 12/25
Net income CAGR-45.4% · 0/25
EPS CAGR ~5Y-29.9% · 0/25
Fwd implied growth1186.3% · 25/25

Profitability21

ROIC0.9% · 5/25
ROE0.6% · 5/25
Net margin0.6% · 6/25
Operating margin2.7% · 5/25

Health39

Altman Z1.91 · 10/25
Current ratio0.88 · 6/25
Interest coverage1.6x · 3/25
Net cash / debtD/A 5% · 20/25

Quality90

Piotroski F5/9 · 15/25
Beneish M-3.44 · 25/25
FCF conversion1270% · 25/25
Margin stabilityσ 4.4% · 25/25

Moat22

ROIC >12% years2/9 yrs · 0/25
Median gross margin8.4% · 0/25
FCF-positive years6/8 yrs · 10/25
Worst-year net marginworst 0.9% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

2023Acquisition
Knight-Swift acquired truckload carrier U.S
FY2022Financial
Became debt-free
cash now exceeds total debt
FY2022Financial
Best year on record
$771M net income
2022Acquisition
Further acquisitions have expanded Knight-Swift's footprint in LTL including its January 2022 acquisition of Midwest…
2021Acquisition
Knight-Swift expanded from its core truckload market into less than truckload (LTL) freight in July 2021 when it…
2017Acquisition
Knight Transportation merged with Swift Transportation and Knight-Swift Transportation Holdings Inc
FY2016Financial
Profitable every year on record
9 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$4.03B in first reported year
1990Founded
Knight Transportation was founded in 1990 by four cousins: brothers Randy and Gary Knight

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$12 379 today — price return only

$7.5B revenue in FY2025

Profitable 9 years in a row

37 100 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (65.1%)

Watch-outs

Thin interest coverage (1.6×)

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+4.1% YoY
Profitable — makes more than it spends$42.9M TTM
Profit growing — earnings are higher than last year-55.9% YoY
Generates cash — cash left after running and investing$545M TTM
Debt under control — could handle its obligations~1.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$10.5B market cap
Not printing shares — share count not ballooning — you keep your slice-4.7% shares over ~5y
Proven track record — years of profitability behind it9/9 profitable years
Financially stable — balance sheet not near distressAltman Z 1.9 — grey
Pays a dividend — returns cash to shareholdersyield 1.18%
Valuation not extreme — price not wildly above earningsP/E 244.4

Peer comparisonKnight-Swift Transportation Holdings Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
KNX this company	$10.5B	244.4	+4.1%	0.6%	Strained
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: KNX vs LRCX · KNX vs CAT · KNX vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 13Hold 5

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $7.73B · net income $42.9M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$7.73B

YoY 4.1%

Net income (TTM)

$42.9M

Margin 0.6%

Gross margin

65.1%

Operating margin

2.7%

P/E ratio

244.4

Dividend yield

1.18%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	4.7	6.0	7.4	7.1	7.4	7.5
Gross profit	0.6	1.0	1.1	0.3	0.2	0.2
Operating income (EBIT)	0.6	1.0	1.1	0.3	0.2	0.2
Net income	0.4	0.7	0.8	0.2	0.1	0.1
EPS (diluted)	2.40	4.45	4.73	1.34	0.73	0.41

Cash flowFree cash flow $545M · operating cash flow $1.39B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$545M

Margin 7.1%

Operating cash flow (TTM)

$1.39B

FCF margin

7.1%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.9	1.2	1.4	1.2	0.8	1.3
Capital expenditure	—	-0.5	-0.8	-1.1	-0.8	-0.8
Free cash flow	0.9	0.7	0.6	0.1	-0.0	0.5
FCF margin	19.7%	10.9%	8.5%	1.2%	-0.3%	6.2%

Balance sheetAssets $12.0B · net debt $600M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $12.0B of assets is financed

41%

59%

Liabilities $4.86B — borrowed moneyEquity $7.08B — owners' stake

Cash vs debt

Total debt $820M − cash $220M = net debt $600M

Cash on hand covers 27% of debt.

Altman Z-Score

1.91

Grey zone

Debt repayment

4.6 yrs

Years of free cash flow to clear net debt

Interest coverage

1.6x

EBIT ÷ interest expense

ROE

0.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.2	0.3	0.2	0.2	0.2	0.2
Total assets	8.5	10.7	11.0	12.9	12.7	12.0
Total liabilities	2.6	4.1	4.0	5.8	5.6	4.9
Total debt	0.3	0.5	0.1	0.5	0.5	0.8
Equity	5.9	6.5	6.9	7.1	7.1	7.1
Net debt	0.1	0.3	-0.1	0.4	0.3	0.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of KNX on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $64.47 · market cap $10.5B.