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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) and North American Construction Group Ltd. (NOA). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $860.2M, roughly 1.4× North American Construction Group Ltd.). North American Construction Group Ltd. runs the higher net margin — 4.7% vs 3.4%, a 1.3% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% CAGR vs -2.2%).
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, ...
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
LSTR vs NOA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $860.2M |
| Net Profit | $39.4M | $40.5M |
| Gross Margin | 9.6% | 19.7% |
| Operating Margin | 4.5% | 15.4% |
| Net Margin | 3.4% | 4.7% |
| Revenue YoY | 1.6% | — |
| Net Profit YoY | 32.3% | — |
| EPS (diluted) | $1.16 | — |
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 | $1.2B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $860.2M | ||
| Q2 25 | $1.2B | $573.3M | ||
| Q1 25 | $1.2B | $297.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $636.4M | ||
| Q2 24 | $1.2B | $439.5M |
| Q1 26 | $39.4M | — | ||
| Q4 25 | $23.9M | — | ||
| Q3 25 | $19.4M | $40.5M | ||
| Q2 25 | $41.9M | $26.0M | ||
| Q1 25 | $29.8M | $11.5M | ||
| Q4 24 | $46.2M | — | ||
| Q3 24 | $50.0M | $45.5M | ||
| Q2 24 | $52.6M | $34.1M |
| Q1 26 | 9.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 19.7% | ||
| Q2 25 | — | 18.1% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 14.0% | ||
| Q2 24 | — | 14.3% |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 2.5% | — | ||
| Q3 25 | 2.2% | 15.4% | ||
| Q2 25 | 4.6% | 13.6% | ||
| Q1 25 | 3.4% | 13.0% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.2% | 7.9% | ||
| Q2 24 | 5.6% | 8.2% |
| Q1 26 | 3.4% | — | ||
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.6% | 4.7% | ||
| Q2 25 | 3.5% | 4.5% | ||
| Q1 25 | 2.6% | 3.9% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 4.1% | 7.1% | ||
| Q2 24 | 4.3% | 7.8% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | $0.70 | — | ||
| Q3 25 | $0.56 | — | ||
| Q2 25 | $1.20 | — | ||
| Q1 25 | $0.85 | — | ||
| Q4 24 | $1.30 | — | ||
| Q3 24 | $1.41 | — | ||
| Q2 24 | $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 | $411.0M | — |
| Total DebtLower is stronger | $26.1M | — |
| Stockholders' EquityBook value | $799.0M | — |
| Total Assets | $1.6B | $1.7B |
| Debt / EquityLower = less leverage | 0.03× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $411.0M | — | ||
| Q4 25 | $452.2M | — | ||
| Q3 25 | $434.4M | — | ||
| Q2 25 | $426.2M | — | ||
| Q1 25 | $473.4M | — | ||
| Q4 24 | $566.6M | — | ||
| Q3 24 | $531.3M | — | ||
| Q2 24 | $504.0M | — |
| Q1 26 | $26.1M | — | ||
| Q4 25 | $0 | — | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $0 | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — |
| Q1 26 | $799.0M | — | ||
| Q4 25 | $795.7M | — | ||
| Q3 25 | $888.7M | — | ||
| Q2 25 | $921.8M | — | ||
| Q1 25 | $930.8M | — | ||
| Q4 24 | $972.4M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.7B | $1.7B | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.8B | $1.5B |
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 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 | — | $140.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $72.7M | — | ||
| Q3 25 | $89.3M | $140.7M | ||
| Q2 25 | $7.1M | $85.4M | ||
| Q1 25 | $55.7M | $19.0M | ||
| Q4 24 | $61.1M | — | ||
| Q3 24 | $83.1M | $109.5M | ||
| Q2 24 | $48.1M | $72.0M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| 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 | — | — | ||
| 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 | — | — | ||
| Q4 25 | 3.04× | — | ||
| Q3 25 | 4.61× | 3.47× | ||
| Q2 25 | 0.17× | 3.28× | ||
| Q1 25 | 1.87× | 1.65× | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.66× | 2.41× | ||
| Q2 24 | 0.91× | 2.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
