Knight-Swift Transportation Holdings Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Knight-Swift Transportation Holdings 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

	FY2016	FY2017	FY2017	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,118	2,425	5,344	4,844	4,674	5,998	7,429	7,142	7,410	7,470
Operating expenses	970	2,225	4,775	4,417	12.3
Operating income	148	201	569	427	564	966	1,092	338	243	216
Interest expense	0.9	8.69	30.2	29.4	17.3	21.1	50.8	127	171	162
Interest income	0.31	1.21	3.2	3.83	1.93	1.17	5.44	21.6	16.6	10.9
Other non-operating income	4.35	-6.92	-17	-13.5	-4.13	8.94	-71.3	-67.9	-94.3	-121
Pre-tax income	153	194	552	414	560	975	1,021	270	149	95.3
Income tax	57.6	-292	131	104	150	231	249	54.8	33	29.8
Net income to minority interests	1.38	1.13	1.39	0.97	0.63	0.36	-0.21	-1.63	-1.54	-0.39
Net income	93.9	484	419	309	410	743	771	217	118	65.9
EBITDA	265	408	999	890	1,071	1,544	1,752	1,073	1,036	1,004
EPS, basic	1.17	4.38	2.37	1.80	2.42	4.48	4.75	1.35	0.73	0.41
EPS, diluted	1.16	4.34	2.36	1.80	2.40	4.45	4.73	1.34	0.73	0.41
Shares, basic (weighted)	80.4	111	177	172	170	166	162	161	162	162
Shares, diluted (weighted)	81.2	112	178	172	171	167	163	162	162	163
Dividend per share	0.24	0.24	0.24	0.24	0.32	0.38	0.48	0.56	0.64	0.72

Balance sheet

	FY2016	FY2017	FY2017	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	8.02	76.6	82.5	160	157	261	197	169	218	220
Receivables	134	574	601	519	578	911	842	889	804	305
Other current assets	47	37.6	29.7	27.8	21	26.3	38	43.9	28.5	36.9
Total current assets	190	923	907	890	923	1,414	1,494	1,709	1,449	888
Property, plant and equipment	803	2,384	2,613	2,851	2,993	3,555	3,835	4,616	4,703	4,718
Lease right-of-use assets			0	169	113	148	192	485	373	315
Goodwill	47	2,888	2,919	2,919	2,923	3,515	3,519	3,849	3,962	3,935
Intangible assets	2.58	1,441	1,421	1,379	1,389	1,831	1,777	2,059	2,057	1,936
Other non-current assets	32.8	47.2	51.7	73.1	126	192	135	153	154	165
Total assets	1,079	7,683	7,912	8,282	8,468	10,656	10,952	12,871	12,699	11,955
Accounts payable	18	120	118	99.2	101	225	221	355	330	201
Accrued liabilities	16.7	186	152	175	88.9	129	81.5	220	64.1	66.6
Deferred revenue	2.11
Short-term debt	0	0.03	0.42	365	52.6	262	71.5	460	288	194
Total current liabilities	78.7	610	615	993	840	1,075	894	1,825	1,707	1,031
Long-term debt	0	365	365	0
Lease liabilities			0	96.2	69.9	108	150	371	275	208
Other non-current liabilities	1.85	26.4	23.3	14.5	48.5	11.8	12	79.1	210	205
Total liabilities	290	2,443	2,449	2,613	2,596	4,112	3,996	5,767	5,582	4,864
Total debt	0	365	365	644	509	1,510	1,080	1,628	1,826	1,744
Paid-in capital	223	4,219	4,242	4,269	4,301	4,351	4,392	4,427	4,447	4,481
Retained earnings	562	1,017	1,217	1,395	1,567	2,181	2,554	2,660	2,661	2,601
Other comprehensive income	0				0	-0.56	-2.44	-0.83	-0.44	-0.72
Shareholders' equity	786	5,238	5,461	5,666	5,870	6,533	6,945	7,087	7,109	7,082
Minority interests	2.26	2.64	1.77	2.09	2.19	10.3	10.3	16.7	7.84	9.41
Total equity	789	5,240	5,463	5,668	5,872	6,543	6,955	7,104	7,117	7,092
Total liabilities and equity	1,079	7,683	7,912	8,282	8,468	10,656	10,952	12,871	12,699	11,955
Shares outstanding					167	166	161	161	162	162

Cash flow statement

	FY2016	FY2017	FY2017	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	95.2	485	421	310	411	744	771	216	116	65.6
Depreciation and amortization	116	207	430	463	507	578	660	735	793	788
Stock-based compensation	4.04	6.24	12.4	16	26.6	28.1	33.9	27.9	23.6	28.6
Deferred income tax	5.45	-305	61.6	31	46.2	39.9	31.1	10.5	-19.3	-15.6
Change in receivables	-11.1	-48.5	-9.38	70.1	-75.5	-215
Change in payables	3.79	-29.9	-18	-13.2	7.5	73.4	-24.8	12.6	14.8	-130
Cash from operations	244	323	882	840	920	1,190	1,436	1,162	799	1,267
Capital expenditures	-155	-387	-756	-830
Acquisitions	0	92	-102	-1.89	-46.8	-1,496	-31.3	-458	-185	0
Purchases of investments				0	0	-25	0	0
Sales and maturities of investments	7.4	0	0
Cash from investing	-101	-204	-647	-584	-481	-1,817	-646	-1,228	-759	-520
Debt issued	0	400	0	0	0	1,200	0	250	150	1,000
Stock issued	13.2	13.2	10.8	10.5	10.2	5.92	2.51	0.16
Share buybacks	-39.9	0	-179	-86.9	-180	-57.2	-300	0	0
Dividends paid	-19.6	-25.5	-42.8	-41.4	-54.6	-63.5	-78.3	-91.1	-104	-117
Cash from financing	-143	24	-255	-185	-444	779	-754	151	-139	-808
Net change in cash	-0.29	142	-20.8	71.3	-4.95	153	35.3	84.3	-99.5	-61.5
Free cash flow	89.2	-64.6	126	9.62
Interest paid	0.94	9.29	28.7	28.9	17.4	18.9	48.9	118	174	161
Income taxes paid	18.5	51.8	16.1	78.7	80	167	289	40.4	9.93	50.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $63.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	2.4%	Operating income / revenue.
EBITDA margin	12.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	0.7%	Pre-tax income / revenue.
Net margin	0.5%	Net income / revenue.
Operating cash flow margin	17.3%	Cash from operations / revenue.
Effective tax rate	36.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	0.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.3%	Net income / average total assets.
Return on invested capital (ROIC)	1.3%	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%.
D&A / revenue	10.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-11.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-41.7%	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	-17.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-16.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-1.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-43.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-55.9%	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	-30.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-43.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-55.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-29.8%	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	58.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.1%	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	6.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	12.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	14.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	17.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.7%	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	3.8%	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	-5.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.0%	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	7.1%	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	0.3%	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	-0.1%	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	-0.9%	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	0.70x	Current assets / current liabilities.
Quick ratio	0.48x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.16x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.25x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.7%	Total debt / total assets.
Liabilities / assets	40.9%	Total liabilities / total assets.
Net debt	$1.53B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.65x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.17x	Operating income / interest expense.
Working capital	-$404.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	49.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.20B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.63x	Revenue / average total assets.
Fixed asset turnover	1.61x	Revenue / average property, plant and equipment.
Receivables turnover	17.6x	Revenue / average receivables.
Days sales outstanding	21 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.21	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	$45.95	Revenue / diluted weighted shares.
Operating cash flow per share	$7.97	Cash from operations / diluted weighted shares.
Book value per share	$43.41	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.40	Tangible book value / shares outstanding.
Cash per share	$1.37	(Cash + short-term investments) / shares outstanding.
Payout ratio	355.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$10.36B	Share price x shares outstanding.
Enterprise value	$11.89B	Market cap + total debt - cash - short-term investments.
P/E	305x	Market cap / net income. Only when net income is positive.
P/S	1.38x	Market cap / revenue.
P/B	1.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.62x	Market cap / tangible book value, when positive.
P/OCF	7.97x	Market cap / cash from operations, when positive.
EV/Sales	1.59x	Enterprise value / revenue.
EV/EBIT	66.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	0.3%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	1.2%	(Dividends paid + share buybacks) / market cap.

What was Knight-Swift Transportation Holdings Inc.'s revenue in fiscal 2025?

Knight-Swift Transportation Holdings Inc. reported revenue of $7.47B for fiscal 2025, 0.8% higher than the year before.

Was Knight-Swift Transportation Holdings Inc. profitable in fiscal 2025?

Yes. Net income was $65.9M, a net margin of 0.9%.

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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