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Knight-Swift Transportation Holdings Inc Class A KNX

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Stock XNYS Rating as of
$51.25 −0.80 (1.54%)
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Company Report

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Knight-Swift Earnings: Operating Conditions Remain Soft, but Signs of Demand Improvement Emerging

Matthew Young

Diversified trucking and logistics specialist Knight-Swift’s second-quarter revenue before fuel grew 18% year over year, mostly in line with our expectations. The increase was driven by the 2023 US Xpress acquisition and solid organic LTL-segment growth. Otherwise, the backdrop for the for-hire truckload, truck brokerage, and intermodal operations remains sluggish due to muted retailer restocking and abundant TL-market capacity, pushing pricing down to unusually low levels.

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Price vs Fair Value

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KNX is trading at a 116% premium.
Price
$51.25
Fair Value
$87.00
Uncertainty
Medium
1-Star Price
$92.64
5-Star Price
$48.90
Economic Moat
Kbcf
Capital Allocation
Zyvycyl

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
$52.05
Day Range
$50.96–52.66
52-Week Range
$45.55–60.99
Bid/Ask
$50.82 / $51.68
Market Cap
$8.28 Bil
Volume/Avg
2.7 Mil / 2.1 Mil

Key Statistics

Price/Earnings (Normalized)
46.15
Price/Sales
1.09
Dividend Yield (Trailing)
1.17%
Dividend Yield (Forward)
1.25%
Total Yield
1.17%

Company Profile

Knight-Swift is the largest truckload, or TL, carrier in the us, with a diversified transportation offering. Pro forma for the us 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
ODFL
JBHT
Price/Earnings (Normalized)
 46.1535.7327.10
Price/Book Value
 1.1710.724.29
Price/Sales
 1.097.441.44
Price/Cash Flow
 8.0327.0912.17
Price/Earnings
KNX
ODFL
JBHT

Financial Strength

Metric
KNX
ODFL
JBHT
Quick Ratio
 0.702.150.83
Current Ratio
 0.932.291.21
Interest Coverage
 1.735,446.6811.67
Quick Ratio
KNX
ODFL
JBHT

Profitability

Metric
KNX
ODFL
JBHT
Return on Assets (Normalized)
 1.48%23.37%8.19%
Return on Equity (Normalized)
 2.55%30.38%16.96%
Return on Invested Capital (Normalized)
 2.89%29.46%13.37%
Return on Assets
KNX
ODFL
JBHT
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