Hub Group, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Hub Group, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	3,526	3,573	4,035	3,684	3,668	3,496	4,232	5,340	4,203	3,946
Cost of revenue	3,113	2,419	2,785	3,238	3,147	3,070	3,633	4,451
Gross profit	413	331	338	446	521	425	600	890
General and administrative	60	60.9	77.2	81.3	104	99.6	90	121	106	114
Operating expenses	296	235	265	321	369	320	3,994	4,866	3,990	3,806
Operating income	117	96.6	72.7	125	152	106	238	475	212	140
Interest expense	2.97	3.63	6.75	9.61	11	9.34	7.31	7.51	13.4	14.5
Interest income		0.35	0.35	1.36	2.1	0.4	0.01	0.87	10	6.89
Other non-operating income	-5.45	-2.53	-5.74	-8.19	-8.55	-9.73	-7.55	-6.76	-3.03	-7.75
Pre-tax income	112	94	66.9	117	144	96.1	231	468	209	133
Income tax	40.6	36.4	-53.1	29.1	36.7	22.5	59.4	111	41.7	28.5
Income from continuing operations		57.6	120	87.7	107	73.6
Net income to minority interests								0	0	0.05
Net income	70.9	74.8	135	202	107	73.6	171	357	168	104
EBITDA	154	141	135	209	269	230	369	628	397	333
EPS, basic	0.99	1.11	2.04	3.02	1.61	1.11	2.56	5.37	2.65	1.72
EPS, diluted	0.99	1.10	2.03	3.01	1.60	1.10	2.53	5.32	2.62	1.70
Shares, basic (weighted)	71.8	67.7	66.4	66.8	0.07	0.07	0.07	0.07	0.06	0.06
Shares, diluted (weighted)	71.9	67.9	66.7	67.1	0.07	0.07	0.07	0.07	0.06	0.06

Balance sheet

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	208	127	28.6	61.4	169	125	160	287	187	98.2
Receivables	380	474	425	477	444
Other current assets	17.8	16.7	25.4	27.5	24.1	26.8	27.8	32.9	41.1	33.9
Total current assets	625	622	656	589	640	673	894	1,057	849	768
Property, plant and equipment	375	439	561	682	663	671	681	784	792	740
Lease right-of-use assets					35.5	43.6	44	102	211	234
Goodwill	263	262	319	484	484	509	577	629	734	814
Intangible assets	13.1	11.8	64.7	135	121	164	197	197	305	267
Other non-current assets	4.85	4.28	5.49	16.7	18.7	18.5	18.4	21.5	22.8	22.1
Total assets	1,301	1,360	1,671	1,925	1,992	2,105	2,437	2,810	2,936	2,868
Accounts payable	230	267	238	273	257	285	425	345	349	280
Accrued liabilities	33	36.2	26.7	55.5	45.5	23	56.9	66.7	21.7	32.8
Short-term debt	32.4	45.2	77.3	102	94.7	93.6	97.3	102	105	100
Total current liabilities	359	418	520	527	507	529	687	692	658	579
Long-term debt	101	116	215	229	187	177	177	241	246	164
Lease liabilities					28.5	36.3	34.9	78.6	178	198
Other non-current liabilities	20.2	23.6	33.6	29.6	36.4	42.9	41.6	43.5	55.3	51
Total liabilities	653	732	901	944	916	947	1,097	1,210	1,301	1,176
Total debt	133	161	292	331	282	270	275	342	351	264
Paid-in capital	174	174	173	172	180	186	189	208	210	222
Retained earnings	661	736	871	1,072	1,180	1,253	1,425	1,782	1,949	2,022
Treasury stock	-172	-266	-259	-249	-269	-266	-258	-375	-525	-599
Other comprehensive income	-0.18	-0.27	-0.19	-0.18	-0.19	-0.19	-0.21	-0.21	-0.13	-1.45
Shareholders' equity	648	628	770	981	1,075	1,158	1,340	1,600	1,635	1,645
Minority interests									0	47
Total equity	648	628	770	981	1,075	1,158	1,340	1,600	1,635	1,692
Total liabilities and equity	1,301	1,360	1,671	1,925	1,992	2,105	2,437	2,810	2,936	2,868

Cash flow statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	70.9	74.8	135	202	107	73.6	171	357	168	104
Depreciation and amortization	37	44.7	62.2	83.9	117	124	131	154	184	193
Stock-based compensation	7.83	8.48	9.87	13.5	16.3	17.1	20.1	20.4	21.3	19.2
Deferred income tax	16.1	11.7	-44.3	41.3	1.43	7.02	-6.4	-0.02	7.86	-10.5
Change in receivables	36.4	-87.6	-84.8	-31.5	32.7	-47.2	-116	8.3	145	33.6
Change in payables	-25.7	35.7	59	5.52	-14.9	5.59	78.4	-89.1	1.22	-73.9
Cash from operations	172	102	125	211	255	175	253	458	422	194
Capital expenditures	-83	-107	-74.5	-200	-94.8	-115	-133	-219	-140	-50.8
Acquisitions			-166	-249	-0.73	-84.8	-122	-103	-261	-14.6
Cash from investing	-80.7	-105	-235	-209	-66.1	-197	-210	-279	-373	-53.3
Debt issued	64.4	62.2	98.5	172	56.5	187	112	179	114	17.8
Debt repaid	-23.2	-34.8	-79.9	-133	-106	-199	-108	-111	-106	-107
Stock issued	0
Share buybacks	-28.8	-100			-25	0	0	-75	-144	-68.3
Dividends paid								0	0	-30.2
Cash from financing	7.15	-77.4	11.1	31.6	-81.1	-22.3	-7.41	-52.5	-148	-201
Exchange rate effect		-0.11	0.01	-0.03	-0	-0.02	-0.01
Net change in cash	98	-80.3	-98.8	32.9	107	-44.2	35.3	127	-99.4	-60.3
Free cash flow	88.7	-4.94	50.7	11	160	59.6	120	239	282	144
Interest paid	2.98	3.67	6.16	9.68	11.3	9.46	7.6	7.99	12.5	14.6
Income taxes paid	6.99	33.2	13.1	13.6	40.3	18.4	58.6	129	34.9	38.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2025; growth uses fiscal years. Valuation uses the share price of $30.34 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	3.8%	Operating income / revenue.
EBITDA margin	8.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.7%	Pre-tax income / revenue.
Net margin	2.8%	Net income / revenue.
FCF margin	3.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.3%	Cash from operations / revenue.
Effective tax rate	22.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.6%	Net income / average total assets.
Return on invested capital (ROIC)	6.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.3%	Capital expenditures / revenue.
D&A / revenue	4.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-33.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-16.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-1.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-16.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-37.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-15.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-0.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-35.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-12.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-53.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-8.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-5.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-49.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	6.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-2.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.47x	Current assets / current liabilities.
Quick ratio	0.22x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.22x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.15x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	8.8%	Total debt / total assets.
Liabilities / assets	39.5%	Total liabilities / total assets.
Net debt	$135.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.45x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	11.2x	Operating income / interest expense.
Working capital	$253.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	36.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$632.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.29x	Revenue / average total assets.
Fixed asset turnover	4.88x	Revenue / average property, plant and equipment.
FCF conversion	108.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	29.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1,740.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$61,805.00	Revenue / diluted weighted shares.
FCF per share	$1,880.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2,656.00	Cash from operations / diluted weighted shares.
Book value per share	$28,217.00	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10,481.00	Tangible book value / shares outstanding.
Cash per share	$1,984.00	(Cash + short-term investments) / shares outstanding.
Payout ratio	28.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	26.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	12.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.86B	Share price x shares outstanding.
Enterprise value	$1.99B	Market cap + total debt - cash - short-term investments.
P/E	17.7x	Market cap / net income. Only when net income is positive.
P/S	0.50x	Market cap / revenue.
P/B	1.09x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.93x	Market cap / tangible book value, when positive.
P/FCF	16.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.6x	Market cap / cash from operations, when positive.
EV/Sales	0.53x	Enterprise value / revenue.
EV/EBIT	14.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.62x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.1%	Free cash flow / market cap.
Earnings yield	5.7%	Net income / market cap (the inverse of P/E).
Dividend yield	1.6%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was Hub Group, Inc.'s revenue in fiscal 2024?

Hub Group, Inc. reported revenue of $3.95B for fiscal 2024, 6.1% lower than the year before.

Was Hub Group, Inc. profitable in fiscal 2024?

Yes. Net income was $104.0M, a net margin of 2.6%.

How much free cash flow did Hub Group, Inc. generate in fiscal 2024?

Cash from operations of $194.4M minus capital expenditures of $50.8M left free cash flow of $143.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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