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C.H. Robinson Worldwide Inc CHRW

Morningstar Rating
$74.39 +0.17 (0.23%)
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Company Report

C.H. Robinson Earnings: Freight Brokerage Backdrop Remains Challenging; Margins Disappoint

C.H. Robinson’s fourth-quarter gross revenue fell 17% year over year (slightly below our forecast), though declines are easing. The key theme throughout 2023 was declining freight demand and customer pricing for NAST and global forwarding, driven by muted retail sector restocking, soft industrial end markets, and the swing to excess transportation industry capacity.

Price vs Fair Value

CHRW is trading at a 12% discount.
Price
$74.39
Fair Value
$25.00
Uncertainty
Medium
1-Star Price
$565.12
5-Star Price
$63.30
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

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

Bears

Freight demand is amid a pullback due to muted retailer restocking and sluggish industrial end markets. Robinson's truck brokerage and global forwarding operations will see top-line and margin pressure throughout 2023.

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News

Trading Information

Previous Close Price
$74.22
Day Range
$73.7974.56
52-Week Range
$71.29106.36
Bid/Ask
$71.98 / $75.86
Market Cap
$8.70 Bil
Volume/Avg
1.2 Mil / 1.4 Mil

Key Statistics

Price/Earnings (Normalized)
23.10
Price/Sales
0.51
Dividend Yield (Trailing)
3.28%
Dividend Yield (Forward)
3.28%
Total Yield
4.01%

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 60% of 2022 net revenue), which reflects mostly truck brokerage but also rail intermodal. Additionally, the firm operates a large air and ocean forwarding division (30%), 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 Value
Total Number of Employees
15,246

Competitors

Valuation

Metric
CHRW
JBHT
EXPD
Price/Earnings (Normalized)
23.1027.2422.45
Price/Book Value
6.125.167.15
Price/Sales
0.511.671.92
Price/Cash Flow
19.7712.7120.56
Price/Earnings
CHRW
JBHT
EXPD

Financial Strength

Metric
CHRW
JBHT
EXPD
Quick Ratio
1.320.981.79
Current Ratio
1.401.172.02
Interest Coverage
4.8815.06197.79
Quick Ratio
CHRW
JBHT
EXPD

Profitability

Metric
CHRW
JBHT
EXPD
Return on Assets (Normalized)
7.18%9.96%16.17%
Return on Equity (Normalized)
28.44%20.81%29.03%
Return on Invested Capital (Normalized)
13.64%16.19%22.87%
Return on Assets
CHRW
JBHT
EXPD
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Integrated Freight & Logistics Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
UPS
United Parcel Service Inc Class BGxdzc$126.0 Bil
FDX
FedEx CorpNctkhj$61.1 Bil
DPSTF
DHL GroupKjkrcx$55.4 Bil
DHLGY
DHL Group ADRJdvbxt$55.4 Bil
JBHT
JB Hunt Transport Services IncHzgnxwr$21.2 Bil
EXPD
Expeditors International of Washington IncXbpgs$17.1 Bil
ZTO
ZTO Express (Cayman) Inc ADRWdvlqfh$15.5 Bil
LSTR
Landstar System IncNrpg$6.8 Bil
HUBG
Hub Group Inc Class AZgmmpx$2.8 Bil

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