Covenant Logistics Group, Inc.

CVLG Industrials Trucking

Covenant Logistics Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 2.92% from fiscal 2024. In the quarter to June 2026, revenue grew 9.91%, EPS fell 10.5%, free cash flow fell 406.9% and total debt rose 8.09%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

30.72 0.09 −0.29%
Market cap
$781.9M
P/E
205×
Fwd P/E
22.4×
Dividend yield
0.91%
F-score
4/9
Altman Z
2.05
Beneish M
−2.84
Dividend safety
18/100

Insider Decisions trades per month

Total sells 15.08
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 3 — 3 2 1 — — — —
Insider Ownership 39.40%

Capital & Financial Ratios $m

Market Cap 781.89
Revenue 1,232.30
Net Income 3.79
Free Cash Flow 25.60
Net Debt 288.71
Current Ratio 1.14
Debt/Equity 0.71
P/E ratio 204.80 (above 35: high)
Fwd P/E 22.40
P/S ratio 0.63
P/B ratio 1.88
Past 5Y EPS Growth —
This Y EPS Growth 6.01%
Next Y EPS Growth 63.38% (at or above 15%: strong)
Next Y revenue growth 13.10% (at or above 10%: strong)
Next 5Y EPS Growth 31.76% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 96.02%
10-year low 10-year high
P/S against its own 10 years 81.68%
10-year low 10-year high
P/B against its own 10 years 87.95%
10-year low 10-year high
EV/Sales against its own 10 years 80.28%
10-year low 10-year high
EV/FCF against its own 10 years 79.66%
10-year low 10-year high

Dividends

Payout Ratio 2.55
Annual Dividend Rate 0.28
Annual Dividend Yield 0.91%
total individual payouts
2026 0.21
0.07
0.07
0.07
2025 0.28
0.07
0.07
0.07
0.07
2024 0.22
0.06
0.06
0.06
0.06
2023 0.22
0.06
0.06
0.06
0.06
2022 0.14
0.03
0.03
0.04
0.04
2021 Powerpack
2020 Powerpack
2019 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2 36 5 3
Receivables 154 152 174 182
Inventory 5 6 6 7
Other 7 0 26 1
186 214 233 220
2023 2024 2025 Q'26
Payables 33 32 45 34
ST’ Debt 48 64 64 64
Other — — — —
170 181 210 193

Compound Annual Growth %

10y 5y 3y
Sales 4.86% 6.79% (1.46%)
Cash Flow 2.89% 12.51% (10.63%)
Earnings (16.14%) 0.00% (59.46%)
Book Value 7.17% 6.81% 2.32%

Revenue $m

Mar Jun Sep Dec Year
’26 307 333 — — —
’25 269 303 297 295 1,164
’24 279 287 288 277 1,131
’23 267 274 289 274 1,104
’22 292 317 312 296 1,217
’21 221 256 275 294 1,046
’20 211 192 211 225 839
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 29 (11) — — —
’25 25 22 41 26 114
’24 22 22 57 22 123
’23 7 5 41 32 85
’22 39 37 44 38 159
’21 10 25 34 5 73
’20 (4) 28 1 38 63
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 53 (35) — — —
’25 1 (7) 6 2 2
’24 (17) (20) 39 19 20
’23 15 (15) 18 (59) (41)
’22 31 20 58 2 112
’21 20 34 36 (8) 82
’20 (20) 49 19 43 91
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.17 0.32 — — —
’25 0.24 0.36 0.35 (0.73) 0.27
’24 0.15 0.44 0.47 0.24 1.30
’23 0.60 0.46 0.50 0.47 2.00
’22 0.66 0.78 1.70 0.41 3.50
’21 0.33 0.46 0.49 0.53 1.79
’20 (0.06) (0.65) 0.22 (0.75) (1.23)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 6.80 7.93 9.07 6.27 3.27 7.05 8.62 14.67 21.50 17.46

Analyst estimates 2026–2028

Powerpack
High 12.89 15.31 17.60 12.50 10.35 17.38 20.19 28.79 30.77 29.47
People
People Employees 4,400 4,300 5,500 5,550 4,900 4,500 4,607 4,600 4,800 4,700
Revenue/emp, $m 0.15 0.16 0.16 0.16 0.17 0.23 0.26 0.24 0.24 0.25
Income, $m
Income, $m Revenue 671 705 880 885 839 1,046 1,217 1,104 1,131 1,164
Gross margin, % 67.11 65.24 65.37 63.86 64.21 58.38 59.57 63.28 67.27 65.74
EBT 27 23 56 8 (17) 79 143 72 46 6
EBT margin, % 4.06 3.30 6.34 0.85 (2.02) 7.57 11.73 6.55 4.06 0.48
Net income 17 55 43 8 (43) 61 109 55 36 7
Depreciation 72 73 76 81 66 54 58 70 87 93
Per share, $
Per share, $ Revenue 18.44 19.28 24.00 24.01 24.15 31.13 40.55 42.29 43.01 45.40
Earnings 0.47 1.52 1.16 0.23 (1.23) 1.81 3.62 2.12 1.37 0.28
Cash flow 2.82 2.27 3.40 1.74 1.82 2.18 5.31 3.25 4.67 4.43
Capex (1.30) (1.70) (0.37) (2.49) 0.81 0.26 (1.58) (4.82) (3.90) (4.37)
Free cash flow 1.52 0.57 3.04 (0.75) 2.63 2.44 3.72 (1.57) 0.77 0.06
Book value 6.50 8.07 9.36 9.50 8.37 10.41 12.57 15.46 16.66 15.75
Shares, m 36 37 37 37 35 34 30 26 26 26
Valuation, ×
Valuation, × P/E 22.91 9.28 8.31 28.13 0.00 7.34 4.80 10.69 19.90 84.77
P/S 0.56 0.73 0.40 0.27 0.31 0.42 0.43 0.53 0.63 0.49
P/B 1.59 1.74 1.03 0.68 0.89 1.27 1.39 1.46 1.64 1.40
EV/Sales 0.87 1.01 0.64 0.54 0.38 0.45 0.46 0.76 0.83 0.74
EV/FCF 10.53 34.09 5.04 (17.23) 3.47 5.68 5.05 (20.46) 45.95 539.31
Cash, $m
Cash, $m Operating cash flow 102 83 125 64 63 73 159 85 123 114
Capex (47) (62) (13) (92) 28 9 (47) (126) (103) (112)
Free cash flow 55 21 111 (28) 91 82 112 (41) 20 2
Balance, $m
Balance, $m Working capital 47 81 84 93 14 46 67 16 33 23
Total debt 214 211 232 281 67 30 110 250 254 300
Net debt 206 195 209 238 59 22 41 248 219 295
Shareholders’ equity 236 295 343 350 291 350 377 403 438 404
Returns, %
Returns, % ROA 2.66 8.73 5.97 1.02 (5.48) 9.14 15.01 6.31 3.68 0.71
ROIC 4.59 3.59 6.27 0.93 (2.51) 11.30 18.04 5.65 4.26 0.26
ROE 7.68 20.86 13.32 2.45 (13.33) 18.97 29.91 14.15 8.53 1.72
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Covenant Logistics Group, Inc. vs peers in Trucking (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SNDR Schneider National, Inc. $5.5B 49.2× 41.6× +10.43% (above 0%: growing) +33.33% (above 0%: growing) −33.07% (below 0%: shrinking) 53.68% 4.55% Compare
RXO RXO INC $4.8B — (loss-making) — (loss-making) +25.02% (above 0%: growing) n/m −620.00% (below 0%: shrinking) 14.04% 0.06% Compare
ARCB ArcBest Corporation $3.0B 186× 33.5× +15.87% (above 0%: growing) n/m +45.84% (above 0%: growing) (1.74%) (1.74%) Compare
WERN Werner Enterprises, Inc. $2.0B — (loss-making) 56.2× +24.00% (above 0%: growing) −84.72% (below 0%: shrinking) +581.60% (above 0%: growing) 52.19% 1.81% Compare
MRTN Marten Transport, Ltd. $1.1B 75.5× 59.2× −2.77% (below 0%: shrinking) −22.22% (below 0%: shrinking) +100,952.63% (above 0%: growing) 62.16% 3.09% Compare
HTLD Heartland Express, Inc. $860.7M — (loss-making) — (loss-making) −12.48% (below 0%: shrinking) n/m +144.91% (above 0%: growing) 27.63% 8.99% Compare
CVLG Covenant Logistics Group, Inc. $781.9M 205× 22.4× +9.91% (above 0%: growing) −10.53% (below 0%: shrinking) −406.90% (below 0%: shrinking) 58.97% 2.66%
ULH Universal Logistics Holdings, Inc. $441.9M — (loss-making) 31.3× −3.67% (below 0%: shrinking) +209.37% (above 0%: growing) +220.86% (above 0%: growing) 37.71% 11.90% Compare
PAMT PAMT Corp. $250.3M — (loss-making) — (loss-making) +8.94% (above 0%: growing) n/m −109.49% (below 0%: shrinking) 60.74% (6.32%) Compare
Median of peers $1.5B 75.5× 41.6× +9.68% +5.55% +95.38% 44.95% 2.45%

All 18 Trucking stocks →

Covenant Logistics Group, Inc. (CVLG) key facts

  • Strength: Covenant Logistics Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 2.92% from fiscal 2024.
  • Covenant Logistics Group, Inc. (CVLG) is a Trucking company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, CVLG traded at $30.72, a market capitalization of $781.9 million.
  • Covenant Logistics Group, Inc. pays an annual dividend of $0.28 per share, a yield of 0.91%.
  • Return on equity was 1.72% and debt-to-equity 0.71.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 2.05 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Covenant Logistics Group, Inc. (CVLG) Latest News

2 Jun

Impact 4 · transcript

21 Apr

Impact 4 · transcript
stockrow.com/CVLG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com