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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
NNN REIT, INC. is the larger business by last-quarter revenue ($240.4M vs $179.4M, roughly 1.3× HEARTLAND EXPRESS INC). NNN REIT, INC. runs the higher net margin — 39.1% vs -10.8%, a 49.9% gap on every dollar of revenue. On growth, NNN REIT, INC. posted the faster year-over-year revenue change (4.1% vs -26.1%). Over the past eight quarters, NNN REIT, INC.'s revenue compounded faster (5.3% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
HTLD vs NNN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $240.4M |
| Net Profit | $-19.4M | $94.0M |
| Gross Margin | — | — |
| Operating Margin | -12.7% | 61.0% |
| Net Margin | -10.8% | 39.1% |
| Revenue YoY | -26.1% | 4.1% |
| Net Profit YoY | -949.2% | -2.6% |
| EPS (diluted) | $-0.24 | $0.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $240.4M | ||
| Q4 25 | $179.4M | $238.4M | ||
| Q3 25 | $196.5M | $230.2M | ||
| Q2 25 | $210.4M | $226.8M | ||
| Q1 25 | $219.4M | $230.9M | ||
| Q4 24 | $242.6M | $218.5M | ||
| Q3 24 | $259.9M | $218.6M | ||
| Q2 24 | $274.8M | $216.8M |
| Q1 26 | — | $94.0M | ||
| Q4 25 | $-19.4M | $96.0M | ||
| Q3 25 | $-8.3M | $96.8M | ||
| Q2 25 | $-10.9M | $100.5M | ||
| Q1 25 | $-13.9M | $96.5M | ||
| Q4 24 | $-1.9M | $97.9M | ||
| Q3 24 | $-9.3M | $97.9M | ||
| Q2 24 | $-3.5M | $106.7M |
| Q1 26 | — | 61.0% | ||
| Q4 25 | -12.7% | 62.3% | ||
| Q3 25 | -3.7% | 64.0% | ||
| Q2 25 | -5.9% | 66.0% | ||
| Q1 25 | -6.8% | 62.3% | ||
| Q4 24 | 0.4% | 65.8% | ||
| Q3 24 | -2.7% | 65.7% | ||
| Q2 24 | 0.1% | 70.2% |
| Q1 26 | — | 39.1% | ||
| Q4 25 | -10.8% | 40.2% | ||
| Q3 25 | -4.2% | 42.1% | ||
| Q2 25 | -5.2% | 44.3% | ||
| Q1 25 | -6.3% | 41.8% | ||
| Q4 24 | -0.8% | 44.8% | ||
| Q3 24 | -3.6% | 44.8% | ||
| Q2 24 | -1.3% | 49.2% |
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.24 | $0.51 | ||
| Q3 25 | $-0.11 | $0.51 | ||
| Q2 25 | $-0.14 | $0.54 | ||
| Q1 25 | $-0.18 | $0.51 | ||
| Q4 24 | $-0.03 | $0.52 | ||
| Q3 24 | $-0.12 | $0.53 | ||
| Q2 24 | $-0.04 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.5M | $4.6M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $4.4B |
| Total Assets | $1.2B | $9.4B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.6M | ||
| Q4 25 | $18.5M | $5.0M | ||
| Q3 25 | $32.7M | $157.9M | ||
| Q2 25 | $22.9M | $6.0M | ||
| Q1 25 | $23.9M | $5.1M | ||
| Q4 24 | $12.8M | $8.7M | ||
| Q3 24 | $30.7M | $173.5M | ||
| Q2 24 | $23.9M | $2.1M |
| Q1 26 | — | — | ||
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $755.3M | $4.4B | ||
| Q3 25 | $775.6M | $4.4B | ||
| Q2 25 | $786.7M | $4.4B | ||
| Q1 25 | $807.7M | $4.4B | ||
| Q4 24 | $822.6M | $4.4B | ||
| Q3 24 | $825.7M | $4.4B | ||
| Q2 24 | $836.8M | $4.2B |
| Q1 26 | — | $9.4B | ||
| Q4 25 | $1.2B | $9.4B | ||
| Q3 25 | $1.3B | $9.5B | ||
| Q2 25 | $1.3B | $9.1B | ||
| Q1 25 | $1.3B | $9.0B | ||
| Q4 24 | $1.3B | $8.9B | ||
| Q3 24 | $1.4B | $8.9B | ||
| Q2 24 | $1.4B | $8.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $14.9M | — |
| Free Cash FlowOCF − Capex | $-44.2M | — |
| FCF MarginFCF / Revenue | -24.6% | — |
| Capex IntensityCapex / Revenue | 33.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $14.9M | $667.1M | ||
| Q3 25 | $27.5M | $218.3M | ||
| Q2 25 | $21.0M | $119.4M | ||
| Q1 25 | $25.8M | $203.3M | ||
| Q4 24 | $37.8M | $635.5M | ||
| Q3 24 | $35.6M | $206.6M | ||
| Q2 24 | $40.0M | $120.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-44.2M | — | ||
| Q3 25 | $-12.2M | — | ||
| Q2 25 | $-12.8M | — | ||
| Q1 25 | $2.3M | — | ||
| Q4 24 | $-45.5M | — | ||
| Q3 24 | $24.6M | — | ||
| Q2 24 | $29.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | -24.6% | — | ||
| Q3 25 | -6.2% | — | ||
| Q2 25 | -6.1% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | -18.8% | — | ||
| Q3 24 | 9.5% | — | ||
| Q2 24 | 10.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 33.0% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 16.1% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 34.3% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 3.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.95× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
