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Side-by-side financial comparison of COVENANT LOGISTICS GROUP, INC. (CVLG) and SKYWEST INC (SKYW), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
SKYWEST INC is the larger business by last-quarter revenue ($1.0B vs $295.4M, roughly 3.5× COVENANT LOGISTICS GROUP, INC.). On growth, SKYWEST INC posted the faster year-over-year revenue change (8.5% vs 6.5%). SKYWEST INC produced more free cash flow last quarter ($224.3M vs $-3.0M). Over the past eight quarters, SKYWEST INC's revenue compounded faster (12.9% CAGR vs 2.9%).
Covenant Logistics Group, Inc. is an American company focused on truckload shipping. The company is headquartered in Chattanooga, Tennessee, and is publicly traded on the New York Stock Exchange. The company provides temperature controlled trucking, regional delivery, and longhaul team driver delivery.
SkyWest, Inc. is the holding company for SkyWest Airlines, a North American regional airline, as well as an aircraft leasing company. It is headquartered in St. George, Utah, United States.
CVLG vs SKYW — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $295.4M | $1.0B |
| Net Profit | — | $91.2M |
| Gross Margin | — | — |
| Operating Margin | -8.2% | 13.1% |
| Net Margin | — | 8.9% |
| Revenue YoY | 6.5% | 8.5% |
| Net Profit YoY | — | -6.4% |
| EPS (diluted) | $-0.68 | $2.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $295.4M | $1.0B | ||
| Q3 25 | $296.9M | $1.1B | ||
| Q2 25 | $302.9M | $1.0B | ||
| Q1 25 | $269.4M | $948.5M | ||
| Q4 24 | $277.3M | $944.4M | ||
| Q3 24 | $287.9M | $912.8M | ||
| Q2 24 | $287.5M | $867.1M | ||
| Q1 24 | $278.8M | $803.6M |
| Q4 25 | — | $91.2M | ||
| Q3 25 | $9.1M | $116.4M | ||
| Q2 25 | $9.8M | $120.3M | ||
| Q1 25 | $6.6M | $100.6M | ||
| Q4 24 | — | $97.4M | ||
| Q3 24 | $13.0M | $89.7M | ||
| Q2 24 | $12.2M | $75.6M | ||
| Q1 24 | $4.0M | $60.3M |
| Q4 25 | -8.2% | 13.1% | ||
| Q3 25 | 2.7% | 16.6% | ||
| Q2 25 | 3.8% | 16.4% | ||
| Q1 25 | 2.8% | 14.7% | ||
| Q4 24 | 3.1% | 15.3% | ||
| Q3 24 | 5.6% | 14.4% | ||
| Q2 24 | 5.4% | 13.8% | ||
| Q1 24 | 1.6% | 12.4% |
| Q4 25 | — | 8.9% | ||
| Q3 25 | 3.1% | 11.1% | ||
| Q2 25 | 3.2% | 11.6% | ||
| Q1 25 | 2.4% | 10.6% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | 4.5% | 9.8% | ||
| Q2 24 | 4.2% | 8.7% | ||
| Q1 24 | 1.4% | 7.5% |
| Q4 25 | $-0.68 | $2.21 | ||
| Q3 25 | $0.35 | $2.81 | ||
| Q2 25 | $0.36 | $2.91 | ||
| Q1 25 | $0.24 | $2.42 | ||
| Q4 24 | $0.25 | $2.34 | ||
| Q3 24 | $0.47 | $2.16 | ||
| Q2 24 | $0.44 | $1.82 | ||
| Q1 24 | $0.14 | $1.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $122.7M |
| Total DebtLower is stronger | $261.7M | — |
| Stockholders' EquityBook value | $404.0M | $2.7B |
| Total Assets | $1.0B | $7.4B |
| Debt / EquityLower = less leverage | 0.65× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $4.9M | $122.7M | ||
| Q3 25 | $2.7M | $44.5M | ||
| Q2 25 | $143.0K | $48.3M | ||
| Q1 25 | $11.2M | $179.0M | ||
| Q4 24 | $35.6M | $227.4M | ||
| Q3 24 | $35.2M | $177.6M | ||
| Q2 24 | $1.3M | $141.8M | ||
| Q1 24 | $3.0M | $180.0M |
| Q4 25 | $261.7M | — | ||
| Q3 25 | $233.3M | $2.4B | ||
| Q2 25 | $245.8M | $2.5B | ||
| Q1 25 | $216.3M | $2.6B | ||
| Q4 24 | $221.6M | $2.7B | ||
| Q3 24 | $231.4M | $2.7B | ||
| Q2 24 | $235.0M | $2.8B | ||
| Q1 24 | $220.5M | $2.9B |
| Q4 25 | $404.0M | $2.7B | ||
| Q3 25 | $423.7M | $2.7B | ||
| Q2 25 | $416.9M | $2.6B | ||
| Q1 25 | $443.6M | $2.5B | ||
| Q4 24 | $438.3M | $2.4B | ||
| Q3 24 | $431.6M | $2.3B | ||
| Q2 24 | $419.4M | $2.2B | ||
| Q1 24 | $407.2M | $2.2B |
| Q4 25 | $1.0B | $7.4B | ||
| Q3 25 | $1.0B | $7.2B | ||
| Q2 25 | $1.0B | $7.2B | ||
| Q1 25 | $980.0M | $7.1B | ||
| Q4 24 | $997.6M | $7.1B | ||
| Q3 24 | $1.0B | $7.0B | ||
| Q2 24 | $995.0M | $7.0B | ||
| Q1 24 | $943.4M | $7.0B |
| Q4 25 | 0.65× | — | ||
| Q3 25 | 0.55× | 0.89× | ||
| Q2 25 | 0.59× | 0.97× | ||
| Q1 25 | 0.49× | 1.03× | ||
| Q4 24 | 0.51× | 1.11× | ||
| Q3 24 | 0.54× | 1.17× | ||
| Q2 24 | 0.56× | 1.25× | ||
| Q1 24 | 0.54× | 1.34× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $25.5M | $231.5M |
| Free Cash FlowOCF − Capex | $-3.0M | $224.3M |
| FCF MarginFCF / Revenue | -1.0% | 21.9% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 9.7% | 0.7% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 2.54× |
| TTM Free Cash FlowTrailing 4 quarters | $-33.9M | $908.3M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $25.5M | $231.5M | ||
| Q3 25 | $41.4M | $280.8M | ||
| Q2 25 | $21.9M | $257.1M | ||
| Q1 25 | $24.8M | $171.0M | ||
| Q4 24 | $21.9M | $185.9M | ||
| Q3 24 | $56.9M | $183.6M | ||
| Q2 24 | $22.4M | $165.3M | ||
| Q1 24 | $21.7M | $157.6M |
| Q4 25 | $-3.0M | $224.3M | ||
| Q3 25 | $-7.8M | $269.9M | ||
| Q2 25 | $-14.5M | $251.5M | ||
| Q1 25 | $-8.6M | $162.6M | ||
| Q4 24 | $464.0K | $162.7M | ||
| Q3 24 | $24.3M | $172.1M | ||
| Q2 24 | $-28.1M | $159.4M | ||
| Q1 24 | $-26.7M | $153.4M |
| Q4 25 | -1.0% | 21.9% | ||
| Q3 25 | -2.6% | 25.7% | ||
| Q2 25 | -4.8% | 24.3% | ||
| Q1 25 | -3.2% | 17.1% | ||
| Q4 24 | 0.2% | 17.2% | ||
| Q3 24 | 8.4% | 18.9% | ||
| Q2 24 | -9.8% | 18.4% | ||
| Q1 24 | -9.6% | 19.1% |
| Q4 25 | 9.7% | 0.7% | ||
| Q3 25 | 16.6% | 1.0% | ||
| Q2 25 | 12.0% | 0.5% | ||
| Q1 25 | 12.4% | 0.9% | ||
| Q4 24 | 7.7% | 2.5% | ||
| Q3 24 | 11.3% | 1.3% | ||
| Q2 24 | 17.6% | 0.7% | ||
| Q1 24 | 17.3% | 0.5% |
| Q4 25 | — | 2.54× | ||
| Q3 25 | 4.55× | 2.41× | ||
| Q2 25 | 2.23× | 2.14× | ||
| Q1 25 | 3.78× | 1.70× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | 4.36× | 2.05× | ||
| Q2 24 | 1.84× | 2.19× | ||
| Q1 24 | 5.46× | 2.61× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
CVLG
| Cargo And Freight | $270.6M | 92% |
| Fuel Surcharge | $24.7M | 8% |
SKYW
| Sky West Airlines | $851.5M | 83% |
| Capacity Purchase Agreements Variable Aircraft Lease Revenue | $72.2M | 7% |
| Lease Airport Services And Other | $54.1M | 5% |
| Airport Customer Service And Other Revenue | $29.0M | 3% |
