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C.H. Robinson Worldwide Inc CHRW

Morningstar Rating
$86.79 −0.70 (0.80%)
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Company Report

C.H. Robinson Still Navigating Pricing Headwinds, but Execution Improving

C.H. Robinson dominates the $90 billion-plus asset-light truck brokerage market, and its immense network of shippers and asset-based truckers supports a wide economic moat, in our view. Although the company is by no means immune to freight pullbacks, its variable-cost model historically helps shield profitability during periods of lackluster volume and pricing, as evidenced by a long history of above-average operating margins. The firm's ownership of transportation equipment is minimal, and a large swath of operating expenses are tied to performance-based variable compensation, which moves with net revenue. We think the company remains well positioned to capitalize on gradual truck brokerage industry consolidation (including market share gains) despite intensifying competition.

Price vs Fair Value

CHRW is trading at a 599% premium.
Price
$87.49
Fair Value
$93.00
Uncertainty
Medium
1-Star Price
$734.65
5-Star Price
$61.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

C.H. Robinson enjoys a history of solid execution throughout the freight cycle, and it has thwarted a host of competitive threats over the years.

Bears

Because of excess truckload market capacity, spot rates will likely remain depressed into the first half of 2024.

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News

Trading Information

Previous Close Price
$87.49
Day Range
$86.4688.24
52-Week Range
$65.00100.88
Bid/Ask
$86.64 / $86.79
Market Cap
$10.16 Bil
Volume/Avg
4.3 Mil / 1.6 Mil

Key Statistics

Price/Earnings (Normalized)
27.99
Price/Sales
0.60
Dividend Yield (Trailing)
2.79%
Dividend Yield (Forward)
2.79%
Total Yield
3.11%

Company Profile

C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (about 61% of net revenue), which reflects mostly truck brokerage but also rail intermodal. Additionally, the firm operates a large air and ocean forwarding division (27%), which has grown organically and via tuck-in acquisitions over the years. The remainder of revenue consists of the European truck-brokerage division, transportation management services, and a legacy produce-sourcing operation.
Sector
Industrials
Industry
Integrated Freight & Logistics
Stock Style Box
Mid Core
Total Number of Employees
15,246

Competitors

Valuation

Metric
CHRW
EXPD
LSTR
Price/Earnings (Normalized)
27.9923.9027.90
Price/Book Value
7.108.136.37
Price/Sales
0.602.091.29
Price/Cash Flow
22.6622.9421.97
Price/Earnings
CHRW
EXPD
LSTR

Financial Strength

Metric
CHRW
EXPD
LSTR
Quick Ratio
1.301.612.20
Current Ratio
1.371.852.22
Interest Coverage
18.50
Quick Ratio
CHRW
EXPD
LSTR

Profitability

Metric
CHRW
EXPD
LSTR
Return on Assets (Normalized)
6.56%15.73%12.87%
Return on Equity (Normalized)
25.22%28.92%23.49%
Return on Invested Capital (Normalized)
10.70%22.39%20.36%
Return on Assets
CHRW
EXPD
LSTR
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Integrated Freight & Logistics Industry Comparables

1-Day Chart
Name
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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
United Parcel Service Inc Class B
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DHL Group ADR
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Expeditors International of Washington Inc
EXPD
BytchmxysHyq$17.8 Bil
ZTO Express (Cayman) Inc ADR
ZTO
VysxptztqdKbzhqk$17.5 Bil
JB Hunt Transport Services Inc
JBHT
BrzcqqttPgsvmw$16.0 Bil
Landstar System Inc
LSTR
MpdjbmqqpJvqd$6.5 Bil
Hub Group Inc Class A
HUBG
BxxlcckpqCgtpgp$2.7 Bil

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