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Knight-Swift Transportation Holdings Inc Class A KNX

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Stock XNYS Rating as of
$46.48 −0.65 (1.37%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Knight-Swift Earnings: Trucking and Logistics Backdrop Still Bouncing Along the Bottom

Matthew Young

Diversified trucking and logistics specialist Knight-Swift’s first-quarter revenue-before-fuel grew 11% year over year. The increase was driven by the July 2023 U.S. Xpress acquisition and organic LTL-segment growth. Otherwise, the operating backdrop for the for-hire truckload, truck brokerage, and intermodal operations continued to face lackluster retailer restocking and abundant TL-market capacity, which has weighed heavily on spot and contract pricing for more than a year. Severe winter weather also pressured results.

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Price vs Fair Value

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KNX is trading at a 10% discount.
Price
$49.23
Fair Value
$75.00
Uncertainty
Medium
1-Star Price
$32.21
5-Star Price
$92.80
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Market share gains linked to the failure of former industry giant Yellow are providing a material volume boost for Knight's LTL division.

Bears

Truckload-industry contract pricing headwinds from excess capacity will linger into first half 2024.

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News

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Trading Information

Previous Close Price
$47.13
Day Range
$46.27–47.31
52-Week Range
$45.74–60.99
Bid/Ask
$46.47 / $46.49
Market Cap
$7.48 Bil
Volume/Avg
2.2 Mil / 2.2 Mil

Key Statistics

Price/Earnings (Normalized)
28.20
Price/Sales
1.07
Dividend Yield (Trailing)
1.20%
Dividend Yield (Forward)
1.32%
Total Yield
1.23%

Company Profile

Knight-Swift is the largest truckload, or TL, carrier in the U.S., with a diversified transportation offering. Pro forma for the U.S. Xpress deal, about 82% of revenue derives from Knight’s asset-based trucking business, with full-truckload (for-hire dry van, refrigerated, and dedicated contract) making up 69% and LTL at 13%. Truck brokerage and other asset-light logistics services make up 9% of revenue, with intermodal near 6%. Knight's intermodal operations use the Class-I railroads for the underlying movement of its shipping containers and also include drayage (regional trucking services to and from inland intermodal ramps/terminals). The remainder of revenue reflects services offered to shippers and third-party truckers including equipment maintenance and leasing.
Sector
Industrials
Industry
Trucking
Stock Style Box
Small Core
Total Number of Employees
34,800
Website
https://www.knight-swift.com

Competitors

Valuation

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Metric
KNX
JBHT
ODFL
Price/Earnings (Normalized)
 28.2021.8534.93
Price/Book Value
 1.114.089.72
Price/Sales
 1.071.377.34
Price/Cash Flow
 7.2610.2026.66
Price/Earnings
KNX
JBHT
ODFL

Financial Strength

Metric
KNX
JBHT
ODFL
Quick Ratio
 0.620.981.93
Current Ratio
 0.941.172.10
Interest Coverage
 2.9615.063,524.66
Quick Ratio
KNX
JBHT
ODFL

Profitability

Metric
KNX
JBHT
ODFL
Return on Assets (Normalized)
 2.36%9.96%24.05%
Return on Equity (Normalized)
 3.95%20.81%31.48%
Return on Invested Capital (Normalized)
 3.76%16.19%30.55%
Return on Assets
KNX
JBHT
ODFL
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