| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 33 | 44.8x | 17.8x | Bottom tier | |
Growth | 16 | 4.1% | 7.1% | Bottom tier | |
Quality | 62 | 12.8% | 4.5% | Around median | |
Safety | 82 | — | 2.6x | Top tier | |
Capital Return | 60 | 2.06% | 2.12% | Around median | |
Momentum | 64 | 38.8% | 2.9% | Around median | |
Sentiment | 63 | 11 | 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.
Landstar System, Inc. operates through a transportation and logistics services model that relies on a network of independent agents and independent BCO truck operators, along with the use of third-party carriers in brokerage operations. Revenue comes from truckload transportation, including flatbed equipment, specialized heavy-haul freight, and van equipment, as well as non-truck services such as air freight and intermodal transportation. The variable-cost structure reduces the need to own a full operating fleet, while the model’s success depends on agents’ ability to attract freight and the availability of safe capacity within the network.
In quarter 2 of fiscal year 2026, revenue calculated from gross profit and margin was approximately $1.44 billion, up 18% year over year. Gross profit increased to $132.3 million from $109.3 million, and its margin improved to 9.2% from 9.0%, while variable contribution rose to $199.4 million from $170.5 million, but its margin declined to 13.9% from 14.1%. The call did not include a figure for quarterly net income, while EDGAR data for quarter 1 of fiscal year 2026 showed net income of $39.4 million and earnings per share of $1.16.
Transportation Logistics segment revenue increased 18% in quarter 2 of fiscal year 2026, driven by a 16% increase in revenue per load and a 2% increase in volume. Heavy-haul freight generated $164 million, up 18%, driven by a 9% increase in volumes and an 8% increase in revenue per load, while non-truck transportation services revenue increased 6%, or $5 million, due to a 50% jump in revenue per air freight load and a 16% increase in intermodal pricing. The five largest commodity categories accounted for approximately 69% of transportation revenue, but were spread across more than 20 thousand customers, and no customer contributed more than 8% of revenue during the first half of fiscal year 2026.
Automated analysis for informational purposes only — not investment advice.
The analysts’ average price target is $203.4, within a wide range of $181 to $240, while the average is approximately 11% below the 52-week range high of $228.46, and the highest target exceeds that high. The “Neutral” consensus and dispersion of targets reflect the absence of strong agreement on the extent to which earnings will benefit from an improving freight market, particularly amid rising claims costs, pressure on the brokerage margin, and negative free cash flow; the data do not include a valid earnings multiple that could be used as an additional valuation anchor.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
In quarter 2 of fiscal year 2026, Landstar’s revenue increased 18% year over year, with truck revenue per load up 17% and volume up approximately 2%. Heavy-haul freight generated $164 million in revenue, up 18% due to 9% volume growth and an 8% increase in revenue per load. In July of quarter 3 of fiscal year 2026, truckloads increased approximately 5% and revenue per load approximately 26% compared with July of fiscal year 2025.
Heavy-haul freight generated revenue of $164 million in quarter 2 of fiscal year 2026, an increase of 18% from the corresponding period. Management reported that 22 customers in this business each increased their freight volume with Landstar by at least 50 loads during the quarter. Demand was spread across the data center, aviation, defense, and energy ecosystem, indicating that performance was not driven by a single customer or end market.
Insurance and claims costs totaled $39.4 million in quarter 2 of fiscal year 2026, compared with $30.4 million in the corresponding quarter, and included $10.5 million in unfavorable adjustments to prior-year claims. These adjustments came from approximately five specific claims, three of which were related to truck brokerage. Management also explained that the Montgomery decision may increase the need to defend brokerage cases in approximately half of the states, while vehicle liability coverage was renewed from June 1, 2026 at a nearly stable cost and brokerage liability coverage at a 3% increase.
Landstar added a net 68 BCO trucks in quarter 2 of fiscal year 2026, the strongest quarterly increase since quarter 1 of fiscal year 2022. During the four-week July 2026 period, the network added another net 49 trucks, after gross additions increased 4.2% and cancellations declined 13.6% sequentially during the quarter. The 12-month turnover rate declined to 28.3% from 31.4% at the end of fiscal year 2025, while utilization increased 12% year over year and 8% sequentially.
Management stated on the July 28, 2026 call that it had developed AI applications to improve agent workflows, information retrieval speed, exception handling, and data visibility. The company intends to begin expanding the deployment of repeatable applications within agent offices in the middle of quarter 3 of fiscal year 2026. The tools are intended to increase efficiency and help agents grow their businesses, with management emphasizing that technology supports rather than replaces agent relationships and expertise.
Landstar ended quarter 2 of fiscal year 2026 with $348 million in cash and short-term investments. Operating cash flow totaled $28 million and cash capital expenditures were $9 million during the first half, but free cash flow was negative in quarter 2 because of the working-capital draw associated with the sharp growth. In the first half of fiscal year 2026, the company paid approximately $95 million in dividends and repurchased approximately $24 million of shares, then declared a quarterly dividend of $0.44 per share, an increase of 10%.
