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Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and WERNER ENTERPRISES INC (WERN). 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 $719.9M, roughly 2.6× WERNER ENTERPRISES INC). Knight-Swift Transportation Holdings Inc. runs the higher net margin — 0.0% vs -3.9%, a 3.9% gap on every dollar of revenue. On growth, Knight-Swift Transportation Holdings Inc. posted the faster year-over-year revenue change (1.4% vs -2.3%). Knight-Swift Transportation Holdings Inc. produced more free cash flow last quarter ($56.9M vs $-23.5M). Over the past eight quarters, Knight-Swift Transportation Holdings Inc.'s revenue compounded faster (0.1% CAGR vs -2.0%).
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.
Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.
KNX vs WERN — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $719.9M |
| Net Profit | $96.0K | $-27.8M |
| Gross Margin | — | — |
| Operating Margin | 1.5% | -5.0% |
| Net Margin | 0.0% | -3.9% |
| Revenue YoY | 1.4% | -2.3% |
| Net Profit YoY | -76.6% | -333.7% |
| EPS (diluted) | $-0.01 | $-0.46 |
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 | $719.9M | ||
| Q3 25 | $1.9B | $752.2M | ||
| Q2 25 | $1.9B | $734.1M | ||
| Q1 25 | $1.8B | $693.4M | ||
| Q4 24 | $1.9B | $736.6M | ||
| Q3 24 | $1.9B | $726.3M | ||
| Q2 24 | $1.8B | $742.7M |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | $-27.8M | ||
| Q3 25 | $7.9M | $-20.6M | ||
| Q2 25 | $34.2M | $44.1M | ||
| Q1 25 | $30.6M | $-10.1M | ||
| Q4 24 | $69.5M | $11.9M | ||
| Q3 24 | $30.5M | $6.6M | ||
| Q2 24 | $20.3M | $9.5M |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 1.4% | -5.0% | ||
| Q3 25 | 2.6% | -1.7% | ||
| Q2 25 | 3.9% | 9.0% | ||
| Q1 25 | 3.7% | -0.8% | ||
| Q4 24 | 4.2% | 1.8% | ||
| Q3 24 | 4.3% | 2.4% | ||
| Q2 24 | 3.4% | 2.6% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | -3.9% | ||
| Q3 25 | 0.4% | -2.7% | ||
| Q2 25 | 1.8% | 6.0% | ||
| Q1 25 | 1.7% | -1.5% | ||
| Q4 24 | 3.7% | 1.6% | ||
| Q3 24 | 1.6% | 0.9% | ||
| Q2 24 | 1.1% | 1.3% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | $-0.46 | ||
| Q3 25 | $0.05 | $-0.34 | ||
| Q2 25 | $0.21 | $0.72 | ||
| Q1 25 | $0.19 | $-0.16 | ||
| Q4 24 | $0.43 | $0.19 | ||
| Q3 24 | $0.19 | $0.11 | ||
| Q2 24 | $0.13 | $0.15 |
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 | $59.9M |
| Total DebtLower is stronger | — | $752.0M |
| Stockholders' EquityBook value | $7.1B | $1.4B |
| Total Assets | $11.9B | $2.9B |
| Debt / EquityLower = less leverage | — | 0.55× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | $59.9M | ||
| Q3 25 | $192.7M | $51.0M | ||
| Q2 25 | $216.3M | $51.4M | ||
| Q1 25 | $209.5M | $52.0M | ||
| Q4 24 | $218.3M | $40.8M | ||
| Q3 24 | $166.3M | $54.7M | ||
| Q2 24 | $186.5M | $70.4M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $752.0M | ||
| Q3 25 | $1.9B | $725.0M | ||
| Q2 25 | $1.8B | $725.0M | ||
| Q1 25 | $1.8B | $640.0M | ||
| Q4 24 | $1.8B | $650.0M | ||
| Q3 24 | $1.9B | $690.0M | ||
| Q2 24 | $1.6B | $670.0M |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.1B | $1.4B | ||
| Q3 25 | $7.1B | $1.4B | ||
| Q2 25 | $7.1B | $1.4B | ||
| Q1 25 | $7.1B | $1.4B | ||
| Q4 24 | $7.1B | $1.5B | ||
| Q3 24 | $7.1B | $1.4B | ||
| Q2 24 | $7.1B | $1.5B |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | $2.9B | ||
| Q3 25 | $12.6B | $3.0B | ||
| Q2 25 | $12.5B | $2.9B | ||
| Q1 25 | $12.6B | $3.0B | ||
| Q4 24 | $12.7B | $3.1B | ||
| Q3 24 | $12.8B | $3.1B | ||
| Q2 24 | $12.6B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | 0.55× | ||
| Q3 25 | 0.26× | 0.52× | ||
| Q2 25 | 0.26× | 0.51× | ||
| Q1 25 | 0.26× | 0.45× | ||
| Q4 24 | 0.26× | 0.45× | ||
| Q3 24 | 0.26× | 0.48× | ||
| Q2 24 | 0.23× | 0.46× |
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 | $62.3M |
| Free Cash FlowOCF − Capex | $56.9M | $-23.5M |
| FCF MarginFCF / Revenue | 3.1% | -3.3% |
| Capex IntensityCapex / Revenue | 4.6% | 11.9% |
| Cash ConversionOCF / Net Profit | 1484.79× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-68.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | $62.3M | ||
| Q3 25 | $217.5M | $44.1M | ||
| Q2 25 | $216.5M | $46.0M | ||
| Q1 25 | $109.4M | $29.4M | ||
| Q4 24 | $274.3M | $71.0M | ||
| Q3 24 | $214.0M | $61.0M | ||
| Q2 24 | $273.4M | $109.1M |
| Q1 26 | $56.9M | — | ||
| Q4 25 | — | $-23.5M | ||
| Q3 25 | — | $-8.6M | ||
| Q2 25 | — | $-42.3M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | — | $-9.8M | ||
| Q3 24 | — | $-73.4M | ||
| Q2 24 | — | $-31.2M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | — | -3.3% | ||
| Q3 25 | — | -1.1% | ||
| Q2 25 | — | -5.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | -1.3% | ||
| Q3 24 | — | -10.1% | ||
| Q2 24 | — | -4.2% |
| Q1 26 | 4.6% | — | ||
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 7.0% | ||
| Q2 25 | — | 12.0% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 11.0% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 18.9% |
| Q1 26 | 1484.79× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 27.67× | — | ||
| Q2 25 | 6.32× | 1.04× | ||
| Q1 25 | 3.57× | — | ||
| Q4 24 | 3.95× | 5.97× | ||
| Q3 24 | 7.03× | 9.30× | ||
| Q2 24 | 13.47× | 11.52× |
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% |
WERN
| Truckload Transportation Services Segment | $512.6M | 71% |
| Werner Logistics | $207.5M | 29% |
| CA | $3.1M | 0% |
