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Knight-Swift Transportation Holdings Inc Class A KNX

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Stock XNYS Rating as of
$63.02 +2.59 (4.29%)
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As of Delayed Price Pre-Open: $62.63 −0.39

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Truckload Rate Rebound Carrying the Load for Knight Swift

Matthew Young

Before its 2017 merger with Swift Transportation, Knight Transportation was the 12th-largest full-truckload carrier in the United States, with a long history of exceptional execution, including average returns on invested capital in the low teens—an unusual accomplishment in trucking. Knight’s long-standing focus on network efficiency has served it well; its legacy operating ratio (expenses/revenue, excluding fuel) averaged in the mid-80s before the Swift deal versus an industry average that has traditionally exceeded 90%.

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Price vs Fair Value

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KNX is trading at a LOCK|g??@>$S premium.
Price
$63.02
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The legacy Knight truckload operations historically ranked among the most efficient and profitable carriers in trucking, with an average OR in the mid-80s before the Swift merger.

Bears

While industrial end markets have improved this year, economic fallout from an oil price shock could temper demand in the quarters ahead.

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Trading Information

Previous Close Price
$60.43
Day Range
$60.53–63.17
52-Week Range
$41.24–82.86
Bid/Ask
$25.21 / $63.88
Shares Outstanding
162.76M
Market Cap
$10.26B
Volume/Avg
1 / 4M

Key Statistics

Price/Earnings (Normalized)
46.68
Price/Sales
1.28
Dividend Yield (Trailing)
1.24%
Dividend Yield (Forward)
1.27%
Dividend Payment Schedule
Mar, Jun, Sep, Dec
Total Yield
1.24%

Company Profile

Knight-Swift Transportation is the largest full-truckload carrier in the US, with a diversified transportation offering. Roughly 82% of revenue comes from Knight’s asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) at 63% and less-than-truckload at 19%. Truck brokerage and other asset-light logistics services account for 8% of revenue, with intermodal at nearly 5%. Knight’s intermodal operations use the Class I railroads for the underlying movement of its shipping containers and include drayage (regional trucking services to and from inland intermodal ramps/terminals). The remainder of revenue is from services offered to shippers and third-party truckers, including equipment maintenance and leasing.
Sector
Industrials
Industry
Trucking
Stock Style Box
Small Growth
Total Number of Employees
37,100
Website
https://www.knight-swift.com

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Valuation

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Metric
KNX
JBHT
XPO
Price/Earnings (Normalized)
 46.6832.5840.33
Price/Book Value
 1.455.9911.21
Price/Sales
 1.281.652.61
Price/Cash Flow
 9.1814.3319.56
Price/Earnings
KNX
JBHT
XPO

Financial Strength

Metric
KNX
JBHT
XPO
Quick Ratio
 0.631.020.87
Current Ratio
 0.881.231.01
Interest Coverage
 1.4614.163.58
Quick Ratio
KNX
JBHT
XPO

Profitability

Metric
KNX
JBHT
XPO
Return on Assets (Normalized)
 1.80%9.22%6.76%
Return on Equity (Normalized)
 3.10%20.47%29.93%
Return on Invested Capital (Normalized)
 3.00%15.93%11.99%
Return on Assets
KNX
JBHT
XPO

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LOCK|<J^DSDX%LOCK|QFB^$39B
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LOCK|g&m^&DLOCK|@SfT$22B
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