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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) and SAIA INC (SAIA). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $790.0M, roughly 1.5× SAIA INC). SAIA INC runs the higher net margin — 6.0% vs 2.0%, a 4.0% gap on every dollar of revenue. On growth, SAIA INC posted the faster year-over-year revenue change (0.1% vs -2.9%). LANDSTAR SYSTEM INC produced more free cash flow last quarter ($70.5M vs $37.5M). Over the past eight quarters, SAIA INC's revenue compounded faster (2.3% CAGR vs 0.1%).
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, ...
Saia is an American less than truckload (LTL) trucking company that originated in Houma, Louisiana, in 1924. With original operation occurring in Louisiana and Texas for the first fifty years, expansion came after 1980 when coverage began reaching into more states in the South. Further expansion happened through mergers with other companies, which allowed Saia to provide service for thirty six states. Saia ranks in the top ten of LTL carriers in the United States, with revenues of over $1.8 b...
LSTR vs SAIA — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $790.0M |
| Net Profit | $23.9M | $47.5M |
| Gross Margin | — | — |
| Operating Margin | 2.5% | 8.1% |
| Net Margin | 2.0% | 6.0% |
| Revenue YoY | -2.9% | 0.1% |
| Net Profit YoY | -48.2% | -37.6% |
| EPS (diluted) | $0.70 | $1.77 |
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 | $790.0M | ||
| Q3 25 | $1.2B | $839.6M | ||
| Q2 25 | $1.2B | $817.1M | ||
| Q1 25 | $1.2B | $787.6M | ||
| Q4 24 | $1.2B | $789.0M | ||
| Q3 24 | $1.2B | $842.1M | ||
| Q2 24 | $1.2B | $823.2M | ||
| Q1 24 | $1.2B | $754.8M |
| Q4 25 | $23.9M | $47.5M | ||
| Q3 25 | $19.4M | $86.3M | ||
| Q2 25 | $41.9M | $71.4M | ||
| Q1 25 | $29.8M | $49.8M | ||
| Q4 24 | $46.2M | $76.1M | ||
| Q3 24 | $50.0M | $92.7M | ||
| Q2 24 | $52.6M | $102.5M | ||
| Q1 24 | $47.1M | $90.7M |
| Q4 25 | 2.5% | 8.1% | ||
| Q3 25 | 2.2% | 14.1% | ||
| Q2 25 | 4.6% | 12.2% | ||
| Q1 25 | 3.4% | 8.9% | ||
| Q4 24 | 4.8% | 12.9% | ||
| Q3 24 | 5.2% | 14.9% | ||
| Q2 24 | 5.6% | 16.7% | ||
| Q1 24 | 5.1% | 15.6% |
| Q4 25 | 2.0% | 6.0% | ||
| Q3 25 | 1.6% | 10.3% | ||
| Q2 25 | 3.5% | 8.7% | ||
| Q1 25 | 2.6% | 6.3% | ||
| Q4 24 | 3.8% | 9.6% | ||
| Q3 24 | 4.1% | 11.0% | ||
| Q2 24 | 4.3% | 12.5% | ||
| Q1 24 | 4.0% | 12.0% |
| Q4 25 | $0.70 | $1.77 | ||
| Q3 25 | $0.56 | $3.22 | ||
| Q2 25 | $1.20 | $2.67 | ||
| Q1 25 | $0.85 | $1.86 | ||
| Q4 24 | $1.30 | $2.84 | ||
| Q3 24 | $1.41 | $3.46 | ||
| Q2 24 | $1.48 | $3.83 | ||
| Q1 24 | $1.32 | $3.38 |
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 | $19.7M |
| Total DebtLower is stronger | $0 | $163.0M |
| Stockholders' EquityBook value | $795.7M | $2.6B |
| Total Assets | $1.6B | $3.5B |
| Debt / EquityLower = less leverage | 0.00× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $452.2M | $19.7M | ||
| Q3 25 | $434.4M | $35.5M | ||
| Q2 25 | $426.2M | $18.8M | ||
| Q1 25 | $473.4M | $16.5M | ||
| Q4 24 | $566.6M | $19.5M | ||
| Q3 24 | $531.3M | $14.4M | ||
| Q2 24 | $504.0M | $11.2M | ||
| Q1 24 | $530.5M | $12.3M |
| Q4 25 | $0 | $163.0M | ||
| Q3 25 | $0 | $218.0M | ||
| Q2 25 | $0 | $307.1M | ||
| Q1 25 | $0 | $291.8M | ||
| Q4 24 | $0 | $195.0M | ||
| Q3 24 | $0 | $184.2M | ||
| Q2 24 | $0 | $169.1M | ||
| Q1 24 | $0 | $76.6M |
| Q4 25 | $795.7M | $2.6B | ||
| Q3 25 | $888.7M | $2.5B | ||
| Q2 25 | $921.8M | $2.4B | ||
| Q1 25 | $930.8M | $2.4B | ||
| Q4 24 | $972.4M | $2.3B | ||
| Q3 24 | $1.0B | $2.2B | ||
| Q2 24 | $1.0B | $2.1B | ||
| Q1 24 | $1.0B | $2.0B |
| Q4 25 | $1.6B | $3.5B | ||
| Q3 25 | $1.7B | $3.5B | ||
| Q2 25 | $1.7B | $3.5B | ||
| Q1 25 | $1.7B | $3.4B | ||
| Q4 24 | $1.8B | $3.2B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.8B | $3.0B | ||
| Q1 24 | $1.7B | $2.8B |
| Q4 25 | 0.00× | 0.06× | ||
| Q3 25 | 0.00× | 0.09× | ||
| Q2 25 | 0.00× | 0.13× | ||
| Q1 25 | 0.00× | 0.12× | ||
| Q4 24 | 0.00× | 0.08× | ||
| Q3 24 | 0.00× | 0.08× | ||
| Q2 24 | 0.00× | 0.08× | ||
| Q1 24 | 0.00× | 0.04× |
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 | $137.3M |
| Free Cash FlowOCF − Capex | $70.5M | $37.5M |
| FCF MarginFCF / Revenue | 6.0% | 4.7% |
| Capex IntensityCapex / Revenue | 0.2% | 12.6% |
| Cash ConversionOCF / Net Profit | 3.04× | 2.89× |
| TTM Free Cash FlowTrailing 4 quarters | $215.0M | $27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.7M | $137.3M | ||
| Q3 25 | $89.3M | $177.8M | ||
| Q2 25 | $7.1M | $170.7M | ||
| Q1 25 | $55.7M | $109.1M | ||
| Q4 24 | $61.1M | $164.7M | ||
| Q3 24 | $83.1M | $181.7M | ||
| Q2 24 | $48.1M | $130.8M | ||
| Q1 24 | $94.2M | $106.5M |
| Q4 25 | $70.5M | $37.5M | ||
| Q3 25 | $86.0M | $87.6M | ||
| Q2 25 | $4.7M | $-3.9M | ||
| Q1 25 | $53.8M | $-93.8M | ||
| Q4 24 | $54.4M | $-3.5M | ||
| Q3 24 | $75.6M | $-11.7M | ||
| Q2 24 | $40.6M | $-94.0M | ||
| Q1 24 | $84.9M | $-350.7M |
| Q4 25 | 6.0% | 4.7% | ||
| Q3 25 | 7.1% | 10.4% | ||
| Q2 25 | 0.4% | -0.5% | ||
| Q1 25 | 4.7% | -11.9% | ||
| Q4 24 | 4.5% | -0.4% | ||
| Q3 24 | 6.2% | -1.4% | ||
| Q2 24 | 3.3% | -11.4% | ||
| Q1 24 | 7.3% | -46.5% |
| Q4 25 | 0.2% | 12.6% | ||
| Q3 25 | 0.3% | 10.8% | ||
| Q2 25 | 0.2% | 21.4% | ||
| Q1 25 | 0.2% | 25.8% | ||
| Q4 24 | 0.6% | 21.3% | ||
| Q3 24 | 0.6% | 23.0% | ||
| Q2 24 | 0.6% | 27.3% | ||
| Q1 24 | 0.8% | 60.6% |
| Q4 25 | 3.04× | 2.89× | ||
| Q3 25 | 4.61× | 2.06× | ||
| Q2 25 | 0.17× | 2.39× | ||
| Q1 25 | 1.87× | 2.19× | ||
| Q4 24 | 1.32× | 2.16× | ||
| Q3 24 | 1.66× | 1.96× | ||
| Q2 24 | 0.91× | 1.28× | ||
| Q1 24 | 2.00× | 1.17× |
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% |
SAIA
Segment breakdown not available.
