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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and TREX CO INC (TREX). Click either name above to swap in a different company.
HEARTLAND EXPRESS INC is the larger business by last-quarter revenue ($179.4M vs $161.1M, roughly 1.1× TREX CO INC). TREX CO INC runs the higher net margin — 1.4% vs -10.8%, a 12.3% gap on every dollar of revenue. On growth, TREX CO INC posted the faster year-over-year revenue change (-3.9% vs -26.1%). TREX CO INC produced more free cash flow last quarter ($22.1M vs $-44.2M). Over the past eight quarters, HEARTLAND EXPRESS INC's revenue compounded faster (-18.5% CAGR vs -34.3%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
HTLD vs TREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $161.1M |
| Net Profit | $-19.4M | $2.3M |
| Gross Margin | — | 30.2% |
| Operating Margin | -12.7% | 2.2% |
| Net Margin | -10.8% | 1.4% |
| Revenue YoY | -26.1% | -3.9% |
| Net Profit YoY | -949.2% | -76.4% |
| EPS (diluted) | $-0.24 | $0.03 |
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.
| Q4 25 | $179.4M | $161.1M | ||
| Q3 25 | $196.5M | $285.3M | ||
| Q2 25 | $210.4M | $387.8M | ||
| Q1 25 | $219.4M | $340.0M | ||
| Q4 24 | $242.6M | $167.6M | ||
| Q3 24 | $259.9M | $233.7M | ||
| Q2 24 | $274.8M | $376.5M | ||
| Q1 24 | $270.3M | $373.6M |
| Q4 25 | $-19.4M | $2.3M | ||
| Q3 25 | $-8.3M | $51.8M | ||
| Q2 25 | $-10.9M | $75.9M | ||
| Q1 25 | $-13.9M | $60.4M | ||
| Q4 24 | $-1.9M | $9.8M | ||
| Q3 24 | $-9.3M | $40.6M | ||
| Q2 24 | $-3.5M | $87.0M | ||
| Q1 24 | $-15.1M | $89.1M |
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 44.7% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | -12.7% | 2.2% | ||
| Q3 25 | -3.7% | 24.7% | ||
| Q2 25 | -5.9% | 26.4% | ||
| Q1 25 | -6.8% | 24.0% | ||
| Q4 24 | 0.4% | 9.2% | ||
| Q3 24 | -2.7% | 23.2% | ||
| Q2 24 | 0.1% | 31.1% | ||
| Q1 24 | -5.3% | 31.9% |
| Q4 25 | -10.8% | 1.4% | ||
| Q3 25 | -4.2% | 18.1% | ||
| Q2 25 | -5.2% | 19.6% | ||
| Q1 25 | -6.3% | 17.8% | ||
| Q4 24 | -0.8% | 5.8% | ||
| Q3 24 | -3.6% | 17.4% | ||
| Q2 24 | -1.3% | 23.1% | ||
| Q1 24 | -5.6% | 23.8% |
| Q4 25 | $-0.24 | $0.03 | ||
| Q3 25 | $-0.11 | $0.48 | ||
| Q2 25 | $-0.14 | $0.71 | ||
| Q1 25 | $-0.18 | $0.56 | ||
| Q4 24 | $-0.03 | $0.10 | ||
| Q3 24 | $-0.12 | $0.37 | ||
| Q2 24 | $-0.04 | $0.80 | ||
| Q1 24 | $-0.19 | $0.82 |
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 | $3.8M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $1.0B |
| Total Assets | $1.2B | $1.5B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $3.8M | ||
| Q3 25 | $32.7M | $11.4M | ||
| Q2 25 | $22.9M | $5.5M | ||
| Q1 25 | $23.9M | $5.0M | ||
| Q4 24 | $12.8M | $1.3M | ||
| Q3 24 | $30.7M | $12.8M | ||
| Q2 24 | $23.9M | $1.2M | ||
| Q1 24 | $23.8M | $3.1M |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $1.0B | ||
| Q3 25 | $775.6M | $1.0B | ||
| Q2 25 | $786.7M | $989.3M | ||
| Q1 25 | $807.7M | $910.1M | ||
| Q4 24 | $822.6M | $850.1M | ||
| Q3 24 | $825.7M | $887.9M | ||
| Q2 24 | $836.8M | $894.9M | ||
| Q1 24 | $848.8M | $804.1M |
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $65.5M |
| Free Cash FlowOCF − Capex | $-44.2M | $22.1M |
| FCF MarginFCF / Revenue | -24.6% | 13.7% |
| Capex IntensityCapex / Revenue | 33.0% | 26.9% |
| Cash ConversionOCF / Net Profit | — | 28.45× |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $134.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $65.5M | ||
| Q3 25 | $27.5M | $196.9M | ||
| Q2 25 | $21.0M | $249.8M | ||
| Q1 25 | $25.8M | $-154.0M | ||
| Q4 24 | $37.8M | $-8.5M | ||
| Q3 24 | $35.6M | $132.8M | ||
| Q2 24 | $40.0M | $193.7M | ||
| Q1 24 | $31.0M | $-174.0M |
| Q4 25 | $-44.2M | $22.1M | ||
| Q3 25 | $-12.2M | $142.9M | ||
| Q2 25 | $-12.8M | $203.0M | ||
| Q1 25 | $2.3M | $-233.5M | ||
| Q4 24 | $-45.5M | $-89.3M | ||
| Q3 24 | $24.6M | $54.5M | ||
| Q2 24 | $29.4M | $158.2M | ||
| Q1 24 | $26.3M | $-211.8M |
| Q4 25 | -24.6% | 13.7% | ||
| Q3 25 | -6.2% | 50.1% | ||
| Q2 25 | -6.1% | 52.3% | ||
| Q1 25 | 1.0% | -68.7% | ||
| Q4 24 | -18.8% | -53.3% | ||
| Q3 24 | 9.5% | 23.3% | ||
| Q2 24 | 10.7% | 42.0% | ||
| Q1 24 | 9.7% | -56.7% |
| Q4 25 | 33.0% | 26.9% | ||
| Q3 25 | 20.2% | 18.9% | ||
| Q2 25 | 16.1% | 12.1% | ||
| Q1 25 | 10.7% | 23.4% | ||
| Q4 24 | 34.3% | 48.2% | ||
| Q3 24 | 4.2% | 33.5% | ||
| Q2 24 | 3.8% | 9.4% | ||
| Q1 24 | 1.7% | 10.1% |
| Q4 25 | — | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | — | 3.29× | ||
| Q1 25 | — | -2.55× | ||
| Q4 24 | — | -0.87× | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | — | -1.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
