vs
Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and LANDSTAR SYSTEM INC (LSTR). Click either name above to swap in a different company.
Knight-Swift Transportation Holdings Inc. is the larger business by last-quarter revenue ($1.9B vs $1.2B, roughly 1.6× LANDSTAR SYSTEM INC). LANDSTAR SYSTEM INC runs the higher net margin — 2.0% vs 0.0%, a 2.0% gap on every dollar of revenue. On growth, Knight-Swift Transportation Holdings Inc. posted the faster year-over-year revenue change (1.4% vs -2.9%). LANDSTAR SYSTEM INC produced more free cash flow last quarter ($70.5M vs $56.9M). Over the past eight quarters, LANDSTAR SYSTEM INC's revenue compounded faster (0.1% CAGR vs 0.1%).
Swift Transportation is an American truckload motor shipping carrier based in Phoenix, Arizona. In 2017, Swift merged with Knight Transportation, also of Phoenix, forming Knight-Swift.
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
KNX vs LSTR — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $96.0K | $23.9M |
| Gross Margin | — | — |
| Operating Margin | 1.5% | 2.5% |
| Net Margin | 0.0% | 2.0% |
| Revenue YoY | 1.4% | -2.9% |
| Net Profit YoY | -76.6% | -48.2% |
| EPS (diluted) | $-0.01 | $0.70 |
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 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.9B | $1.2B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.8B | $1.2B |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | $23.9M | ||
| Q3 25 | $7.9M | $19.4M | ||
| Q2 25 | $34.2M | $41.9M | ||
| Q1 25 | $30.6M | $29.8M | ||
| Q4 24 | $69.5M | $46.2M | ||
| Q3 24 | $30.5M | $50.0M | ||
| Q2 24 | $20.3M | $52.6M |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 1.4% | 2.5% | ||
| Q3 25 | 2.6% | 2.2% | ||
| Q2 25 | 3.9% | 4.6% | ||
| Q1 25 | 3.7% | 3.4% | ||
| Q4 24 | 4.2% | 4.8% | ||
| Q3 24 | 4.3% | 5.2% | ||
| Q2 24 | 3.4% | 5.6% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | 2.0% | ||
| Q3 25 | 0.4% | 1.6% | ||
| Q2 25 | 1.8% | 3.5% | ||
| Q1 25 | 1.7% | 2.6% | ||
| Q4 24 | 3.7% | 3.8% | ||
| Q3 24 | 1.6% | 4.1% | ||
| Q2 24 | 1.1% | 4.3% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | $0.70 | ||
| Q3 25 | $0.05 | $0.56 | ||
| Q2 25 | $0.21 | $1.20 | ||
| Q1 25 | $0.19 | $0.85 | ||
| Q4 24 | $0.43 | $1.30 | ||
| Q3 24 | $0.19 | $1.41 | ||
| Q2 24 | $0.13 | $1.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $222.8M | $452.2M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $7.1B | $795.7M |
| Total Assets | $11.9B | $1.6B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | $452.2M | ||
| Q3 25 | $192.7M | $434.4M | ||
| Q2 25 | $216.3M | $426.2M | ||
| Q1 25 | $209.5M | $473.4M | ||
| Q4 24 | $218.3M | $566.6M | ||
| Q3 24 | $166.3M | $531.3M | ||
| Q2 24 | $186.5M | $504.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $0 | ||
| Q3 25 | $1.9B | $0 | ||
| Q2 25 | $1.8B | $0 | ||
| Q1 25 | $1.8B | $0 | ||
| Q4 24 | $1.8B | $0 | ||
| Q3 24 | $1.9B | $0 | ||
| Q2 24 | $1.6B | $0 |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.1B | $795.7M | ||
| Q3 25 | $7.1B | $888.7M | ||
| Q2 25 | $7.1B | $921.8M | ||
| Q1 25 | $7.1B | $930.8M | ||
| Q4 24 | $7.1B | $972.4M | ||
| Q3 24 | $7.1B | $1.0B | ||
| Q2 24 | $7.1B | $1.0B |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | $1.6B | ||
| Q3 25 | $12.6B | $1.7B | ||
| Q2 25 | $12.5B | $1.7B | ||
| Q1 25 | $12.6B | $1.7B | ||
| Q4 24 | $12.7B | $1.8B | ||
| Q3 24 | $12.8B | $1.8B | ||
| Q2 24 | $12.6B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | 0.00× | ||
| Q3 25 | 0.26× | 0.00× | ||
| Q2 25 | 0.26× | 0.00× | ||
| Q1 25 | 0.26× | 0.00× | ||
| Q4 24 | 0.26× | 0.00× | ||
| Q3 24 | 0.26× | 0.00× | ||
| Q2 24 | 0.23× | 0.00× |
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 | $142.5M | $72.7M |
| Free Cash FlowOCF − Capex | $56.9M | $70.5M |
| FCF MarginFCF / Revenue | 3.1% | 6.0% |
| Capex IntensityCapex / Revenue | 4.6% | 0.2% |
| Cash ConversionOCF / Net Profit | 1484.79× | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $215.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | $72.7M | ||
| Q3 25 | $217.5M | $89.3M | ||
| Q2 25 | $216.5M | $7.1M | ||
| Q1 25 | $109.4M | $55.7M | ||
| Q4 24 | $274.3M | $61.1M | ||
| Q3 24 | $214.0M | $83.1M | ||
| Q2 24 | $273.4M | $48.1M |
| Q1 26 | $56.9M | — | ||
| Q4 25 | — | $70.5M | ||
| Q3 25 | — | $86.0M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $53.8M | ||
| Q4 24 | — | $54.4M | ||
| Q3 24 | — | $75.6M | ||
| Q2 24 | — | $40.6M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 7.1% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | 4.6% | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | 1484.79× | — | ||
| Q4 25 | — | 3.04× | ||
| Q3 25 | 27.67× | 4.61× | ||
| Q2 25 | 6.32× | 0.17× | ||
| Q1 25 | 3.57× | 1.87× | ||
| Q4 24 | 3.95× | 1.32× | ||
| Q3 24 | 7.03× | 1.66× | ||
| Q2 24 | 13.47× | 0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KNX
| Revenue, excluding truckload and LTL fuel surcharge | $1.6B | 89% |
| Truckload and LTL fuel surcharge | $212.2M | 11% |
LSTR
| Transportation Logistics | $1.2B | 99% |
| Insurance | $14.6M | 1% |
