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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
SELECT MEDICAL HOLDINGS CORP is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.2× LANDSTAR SYSTEM INC). LANDSTAR SYSTEM INC runs the higher net margin — 3.4% vs 1.4%, a 1.9% gap on every dollar of revenue. On growth, SELECT MEDICAL HOLDINGS CORP posted the faster year-over-year revenue change (6.4% vs 1.6%). Over the past eight quarters, SELECT MEDICAL HOLDINGS CORP's revenue compounded faster (2.8% 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, ...
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
LSTR vs SEM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.4B |
| Net Profit | $39.4M | $20.2M |
| Gross Margin | 9.6% | — |
| Operating Margin | 4.5% | 4.6% |
| Net Margin | 3.4% | 1.4% |
| Revenue YoY | 1.6% | 6.4% |
| Net Profit YoY | 32.3% | 225.7% |
| EPS (diluted) | $1.16 | $0.17 |
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 | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B |
| Q1 26 | $39.4M | — | ||
| Q4 25 | $23.9M | $20.2M | ||
| Q3 25 | $19.4M | $28.8M | ||
| Q2 25 | $41.9M | $40.6M | ||
| Q1 25 | $29.8M | $56.7M | ||
| Q4 24 | $46.2M | $-16.1M | ||
| Q3 24 | $50.0M | $55.6M | ||
| Q2 24 | $52.6M | $77.6M |
| Q1 26 | 9.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 2.5% | 4.6% | ||
| Q3 25 | 2.2% | 5.4% | ||
| Q2 25 | 4.6% | 6.5% | ||
| Q1 25 | 3.4% | 8.3% | ||
| Q4 24 | 4.8% | 1.6% | ||
| Q3 24 | 5.2% | 4.3% | ||
| Q2 24 | 5.6% | 5.8% |
| Q1 26 | 3.4% | — | ||
| Q4 25 | 2.0% | 1.4% | ||
| Q3 25 | 1.6% | 2.1% | ||
| Q2 25 | 3.5% | 3.0% | ||
| Q1 25 | 2.6% | 4.2% | ||
| Q4 24 | 3.8% | -1.2% | ||
| Q3 24 | 4.1% | 4.4% | ||
| Q2 24 | 4.3% | 6.1% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | $0.70 | $0.17 | ||
| Q3 25 | $0.56 | $0.23 | ||
| Q2 25 | $1.20 | $0.32 | ||
| Q1 25 | $0.85 | $0.44 | ||
| Q4 24 | $1.30 | $-0.12 | ||
| Q3 24 | $1.41 | $0.43 | ||
| Q2 24 | $1.48 | $0.60 |
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 | $26.5M |
| Total DebtLower is stronger | $26.1M | $1.8B |
| Stockholders' EquityBook value | $799.0M | $1.7B |
| Total Assets | $1.6B | $5.9B |
| Debt / EquityLower = less leverage | 0.03× | 1.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $411.0M | — | ||
| Q4 25 | $452.2M | $26.5M | ||
| Q3 25 | $434.4M | $60.1M | ||
| Q2 25 | $426.2M | $52.3M | ||
| Q1 25 | $473.4M | $53.2M | ||
| Q4 24 | $566.6M | $59.7M | ||
| Q3 24 | $531.3M | $191.5M | ||
| Q2 24 | $504.0M | $111.2M |
| Q1 26 | $26.1M | — | ||
| Q4 25 | $0 | $1.8B | ||
| Q3 25 | $0 | $1.7B | ||
| Q2 25 | $0 | $1.8B | ||
| Q1 25 | $0 | $1.8B | ||
| Q4 24 | $0 | $1.7B | ||
| Q3 24 | $0 | $3.1B | ||
| Q2 24 | $0 | $3.6B |
| Q1 26 | $799.0M | — | ||
| Q4 25 | $795.7M | $1.7B | ||
| Q3 25 | $888.7M | $1.7B | ||
| Q2 25 | $921.8M | $1.7B | ||
| Q1 25 | $930.8M | $1.7B | ||
| Q4 24 | $972.4M | $1.7B | ||
| Q3 24 | $1.0B | $1.9B | ||
| Q2 24 | $1.0B | $1.4B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $5.9B | ||
| Q3 25 | $1.7B | $5.7B | ||
| Q2 25 | $1.7B | $5.7B | ||
| Q1 25 | $1.7B | $5.7B | ||
| Q4 24 | $1.8B | $5.6B | ||
| Q3 24 | $1.8B | $8.0B | ||
| Q2 24 | $1.8B | $7.9B |
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.00× | 1.06× | ||
| Q3 25 | 0.00× | 1.03× | ||
| Q2 25 | 0.00× | 1.10× | ||
| Q1 25 | 0.00× | 1.03× | ||
| Q4 24 | 0.00× | 1.01× | ||
| Q3 24 | 0.00× | 1.62× | ||
| Q2 24 | 0.00× | 2.54× |
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 | — | $64.3M |
| Free Cash FlowOCF − Capex | — | $5.2M |
| FCF MarginFCF / Revenue | — | 0.4% |
| Capex IntensityCapex / Revenue | — | 4.2% |
| Cash ConversionOCF / Net Profit | — | 3.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $117.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $72.7M | $64.3M | ||
| Q3 25 | $89.3M | $175.3M | ||
| Q2 25 | $7.1M | $110.3M | ||
| Q1 25 | $55.7M | $-3.5M | ||
| Q4 24 | $61.1M | $125.4M | ||
| Q3 24 | $83.1M | $181.0M | ||
| Q2 24 | $48.1M | $278.2M |
| Q1 26 | — | — | ||
| Q4 25 | $70.5M | $5.2M | ||
| Q3 25 | $86.0M | $122.2M | ||
| Q2 25 | $4.7M | $45.6M | ||
| Q1 25 | $53.8M | $-55.8M | ||
| Q4 24 | $54.4M | $62.0M | ||
| Q3 24 | $75.6M | $130.3M | ||
| Q2 24 | $40.6M | $222.6M |
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | 0.4% | ||
| Q3 25 | 7.1% | 9.0% | ||
| Q2 25 | 0.4% | 3.4% | ||
| Q1 25 | 4.7% | -4.1% | ||
| Q4 24 | 4.5% | 4.7% | ||
| Q3 24 | 6.2% | 10.2% | ||
| Q2 24 | 3.3% | 17.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 4.2% | ||
| Q3 25 | 0.3% | 3.9% | ||
| Q2 25 | 0.2% | 4.8% | ||
| Q1 25 | 0.2% | 3.9% | ||
| Q4 24 | 0.6% | 4.8% | ||
| Q3 24 | 0.6% | 4.0% | ||
| Q2 24 | 0.6% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.04× | 3.19× | ||
| Q3 25 | 4.61× | 6.09× | ||
| Q2 25 | 0.17× | 2.72× | ||
| Q1 25 | 1.87× | -0.06× | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.66× | 3.25× | ||
| Q2 24 | 0.91× | 3.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LSTR
Segment breakdown not available.
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
