| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 46 | 253.5x | 17.8x | Around median | |
Growth | 45 | 4.1% | 7.1% | Around median | |
Quality | 49 | 1.9% | 4.5% | Around median | |
Safety | 62 | 2.9x | 2.6x | Around median | |
Capital Return | 46 | 1.06% | 2.12% | Around median | |
Momentum | 77 | 64.6% | 2.9% | Top tier | |
Sentiment | 53 | 13 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Knight-Swift Transportation Holdings Inc. operates through a portfolio of transportation and logistics services that includes full truckload, less-than-truckload LTL, logistics brokerage, intermodal transportation, as well as warehousing, trailer leasing, equipment services, insurance, and maintenance. The company generates revenue from transported volumes and pricing per mile, shipment, or load, while profitability depends on contract and spot-market rates, the percentage of empty miles, tractor utilization, driver costs, and network efficiency.
In Q2 of fiscal year 2026, consolidated revenue excluding truckload and LTL fuel surcharges increased 5.5% year over year, and adjusted operating income increased by $47.2 million, or 45.5%. GAAP diluted earnings per share were $0.26, up 23.8%, and adjusted earnings per share were $0.63, up 80%, while the adjusted operating ratio improved by 240 basis points to 91.4%. The call did not disclose an absolute value for consolidated revenue for this quarter, while EDGAR filings show revenue of $1.9 billion and a net loss of $1.3 million in Q1 of fiscal year 2026.
The truckload segment led the earnings improvement in Q2 of fiscal year 2026; its revenue excluding fuel grew 2.8%, adjusted operating income grew 69.4%, and its operating ratio improved to 91%. By contrast, LTL revenue excluding fuel declined 1.4%, logistics revenue increased 8.9% while its gross margin fell to 15.4%, and intermodal transportation recorded revenue growth of 34.9%. Margins and operating income improved across all reported segments except logistics.
The average analyst price target is $88 with a “Buy” consensus, and the target range is between $70 and $100; the average is above the 52-week range high of $82.86, while the annual range extends from $38.63 to $82.86. A reliable earnings multiple is not available in the data, which is important in light of net income of only $34 million and earnings per share of approximately $0.21 during the twelve months ended in 2026, so the valuation depends heavily on the realization of a recovery in pricing and margins, while the wide range of analyst targets reflects meaningful disagreement about the extent of this recovery.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
The improvement came primarily from pricing and network efficiency in the asset-based businesses. Consolidated revenue excluding truckload and LTL fuel surcharges increased 5.5%, while adjusted operating income increased 45.5% and adjusted earnings per share increased 80% to $0.63. In the truckload segment, a 5.5% increase in revenue per loaded mile and a 140-basis-point reduction in empty miles led to a 360-basis-point improvement in the operating ratio to 91%.
The U.S. Xpress over-the-road business achieved its first profitable quarter since Knight-Swift acquired it in Q2 of fiscal year 2026. Management explained that U.S. Xpress achieved greater pricing gains than the legacy brands because of the lower starting point in its pricing portfolio. This occurred as part of a 69.4% increase in the truckload segment's adjusted operating income and an improvement in its operating ratio to 91%.
The company expects adjusted earnings per share of between $0.71 and $0.77 in Q3 of fiscal year 2026. The guidance assumes continued improvement in contract and spot-market rates, with the tractor count and miles per tractor remaining approximately stable sequentially. By contrast, fuel, driver wages, and lower equipment-sale gains may pressure the improvement, while management is targeting a truckload segment operating ratio in the high-80s range.
Automated analysis for informational purposes only — not investment advice.
The driver shortage represents both, but it directly limits the company's ability to operate unseated tractors and capitalize on freight opportunities. In Q3 of fiscal year 2026, Knight-Swift began implementing targeted hiring, productivity, and wage incentives, leveraging its academy network and AI-supported recruiting tools. Management believes the increases will be less broad than in the 2020–2021 cycle, but acknowledged that these investments may exert limited cost pressure.
Management said on July 22, 2026 that the ruling could push shippers toward asset-based carriers with higher safety compliance, which could benefit Knight-Swift's truckload segment. However, the June 2026 brokerage insurance renewal came with premiums at multiples of the previous level, along with reduced insurance capacity and the emergence of exclusions related to carrier vetting. Therefore, the ruling may expand market-share opportunities over the longer term, but it raises costs and legal risks within the brokerage business.
In Q2 of fiscal year 2026, Knight-Swift issued 1% convertible notes to repay floating-rate financing costing approximately 5%. The company expects this to generate annual savings of approximately $44 million before tax after transaction costs, alongside extending maturities and reducing exposure to variable interest rates. It also used $107 million to raise the effective conversion price from approximately $80 to $105 per share, limiting dilution until the stock rises significantly.
