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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) and PAMT CORP (PAMT). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $141.3M, roughly 8.3× PAMT CORP). LANDSTAR SYSTEM INC runs the higher net margin — 2.0% vs -20.7%, a 22.7% gap on every dollar of revenue. On growth, LANDSTAR SYSTEM INC posted the faster year-over-year revenue change (-2.9% vs -15.1%). LANDSTAR SYSTEM INC produced more free cash flow last quarter ($70.5M vs $-25.0M). Over the past eight quarters, LANDSTAR SYSTEM INC's revenue compounded faster (0.1% CAGR vs -12.0%).
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, ...
LSTR vs PAMT — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $141.3M |
| Net Profit | $23.9M | $-29.3M |
| Gross Margin | — | — |
| Operating Margin | 2.5% | -27.0% |
| Net Margin | 2.0% | -20.7% |
| Revenue YoY | -2.9% | -15.1% |
| Net Profit YoY | -48.2% | 7.4% |
| EPS (diluted) | $0.70 | $-1.38 |
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 | $1.2B | $141.3M | ||
| Q3 25 | $1.2B | $150.3M | ||
| Q2 25 | $1.2B | $151.1M | ||
| Q1 25 | $1.2B | $155.3M | ||
| Q4 24 | $1.2B | $166.5M | ||
| Q3 24 | $1.2B | $182.6M | ||
| Q2 24 | $1.2B | $182.9M | ||
| Q1 24 | $1.2B | $182.6M |
| Q4 25 | $23.9M | $-29.3M | ||
| Q3 25 | $19.4M | $-5.6M | ||
| Q2 25 | $41.9M | $-9.6M | ||
| Q1 25 | $29.8M | $-8.1M | ||
| Q4 24 | $46.2M | $-31.6M | ||
| Q3 24 | $50.0M | $2.4M | ||
| Q2 24 | $52.6M | $-2.9M | ||
| Q1 24 | $47.1M | $281.0K |
| Q4 25 | 2.5% | -27.0% | ||
| Q3 25 | 2.2% | -3.8% | ||
| Q2 25 | 4.6% | -7.3% | ||
| Q1 25 | 3.4% | -5.9% | ||
| Q4 24 | 4.8% | -22.6% | ||
| Q3 24 | 5.2% | 1.3% | ||
| Q2 24 | 5.6% | -0.4% | ||
| Q1 24 | 5.1% | -0.4% |
| Q4 25 | 2.0% | -20.7% | ||
| Q3 25 | 1.6% | -3.7% | ||
| Q2 25 | 3.5% | -6.4% | ||
| Q1 25 | 2.6% | -5.2% | ||
| Q4 24 | 3.8% | -19.0% | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 4.3% | -1.6% | ||
| Q1 24 | 4.0% | 0.2% |
| Q4 25 | $0.70 | $-1.38 | ||
| Q3 25 | $0.56 | $-0.27 | ||
| Q2 25 | $1.20 | $-0.46 | ||
| Q1 25 | $0.85 | $-0.37 | ||
| Q4 24 | $1.30 | $-1.44 | ||
| Q3 24 | $1.41 | $0.11 | ||
| Q2 24 | $1.48 | $-0.13 | ||
| Q1 24 | $1.32 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $452.2M | $83.7M |
| Total DebtLower is stronger | $0 | $333.9M |
| Stockholders' EquityBook value | $795.7M | $210.5M |
| Total Assets | $1.6B | $697.9M |
| Debt / EquityLower = less leverage | 0.00× | 1.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $452.2M | $83.7M | ||
| Q3 25 | $434.4M | $115.6M | ||
| Q2 25 | $426.2M | $117.3M | ||
| Q1 25 | $473.4M | $102.7M | ||
| Q4 24 | $566.6M | $110.7M | ||
| Q3 24 | $531.3M | $92.3M | ||
| Q2 24 | $504.0M | $114.0M | ||
| Q1 24 | $530.5M | $125.8M |
| Q4 25 | $0 | $333.9M | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $0 | — | ||
| Q4 24 | $0 | $325.6M | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $0 | — |
| Q4 25 | $795.7M | $210.5M | ||
| Q3 25 | $888.7M | $239.5M | ||
| Q2 25 | $921.8M | $244.9M | ||
| Q1 25 | $930.8M | $269.6M | ||
| Q4 24 | $972.4M | $277.5M | ||
| Q3 24 | $1.0B | $308.9M | ||
| Q2 24 | $1.0B | $306.7M | ||
| Q1 24 | $1.0B | $314.6M |
| Q4 25 | $1.6B | $697.9M | ||
| Q3 25 | $1.7B | $715.2M | ||
| Q2 25 | $1.7B | $707.9M | ||
| Q1 25 | $1.7B | $712.6M | ||
| Q4 24 | $1.8B | $741.7M | ||
| Q3 24 | $1.8B | $756.7M | ||
| Q2 24 | $1.8B | $733.5M | ||
| Q1 24 | $1.7B | $746.4M |
| Q4 25 | 0.00× | 1.59× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | 1.17× | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 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 | $72.7M | $-5.8M |
| Free Cash FlowOCF − Capex | $70.5M | $-25.0M |
| FCF MarginFCF / Revenue | 6.0% | -17.7% |
| Capex IntensityCapex / Revenue | 0.2% | 13.6% |
| Cash ConversionOCF / Net Profit | 3.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $215.0M | $-23.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.7M | $-5.8M | ||
| Q3 25 | $89.3M | $5.9M | ||
| Q2 25 | $7.1M | $12.2M | ||
| Q1 25 | $55.7M | $5.0M | ||
| Q4 24 | $61.1M | $15.2M | ||
| Q3 24 | $83.1M | $15.5M | ||
| Q2 24 | $48.1M | $18.7M | ||
| Q1 24 | $94.2M | $9.6M |
| Q4 25 | $70.5M | $-25.0M | ||
| Q3 25 | $86.0M | $2.5M | ||
| Q2 25 | $4.7M | $5.9M | ||
| Q1 25 | $53.8M | $-6.8M | ||
| Q4 24 | $54.4M | $-39.9M | ||
| Q3 24 | $75.6M | $-33.6M | ||
| Q2 24 | $40.6M | $4.1M | ||
| Q1 24 | $84.9M | $-12.2M |
| Q4 25 | 6.0% | -17.7% | ||
| Q3 25 | 7.1% | 1.7% | ||
| Q2 25 | 0.4% | 3.9% | ||
| Q1 25 | 4.7% | -4.4% | ||
| Q4 24 | 4.5% | -24.0% | ||
| Q3 24 | 6.2% | -18.4% | ||
| Q2 24 | 3.3% | 2.2% | ||
| Q1 24 | 7.3% | -6.7% |
| Q4 25 | 0.2% | 13.6% | ||
| Q3 25 | 0.3% | 2.3% | ||
| Q2 25 | 0.2% | 4.2% | ||
| Q1 25 | 0.2% | 7.6% | ||
| Q4 24 | 0.6% | 33.1% | ||
| Q3 24 | 0.6% | 26.9% | ||
| Q2 24 | 0.6% | 8.0% | ||
| Q1 24 | 0.8% | 12.0% |
| Q4 25 | 3.04× | — | ||
| Q3 25 | 4.61× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 1.87× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.66× | 6.44× | ||
| Q2 24 | 0.91× | — | ||
| Q1 24 | 2.00× | 34.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LSTR
| Transportation Logistics | $1.2B | 99% |
| Insurance | $14.6M | 1% |
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
