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J.B. Hunt Transport Services, Inc.

JBHT Industrials Integrated Freight & Logistics

J.B. Hunt Transport Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.0 billion, down 0.73% from fiscal 2024.

Revenue
+20.4%
EPS
+3.41%
Free cash flow
−39.4%
Total debt
−29.8%

Quarter to September 2026, against a year earlier

218.56 8.50 −3.74%
Market cap
$20.4B
P/E
30.7×
Fwd P/E
30.5×
Dividend yield
1.02%
F-score
8/9
Altman Z
5.80
Beneish M
−3.21
Dividend safety
89/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • JBI
  • DCS
  • ICS
  • FMS
  • JBT

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 12.14
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 3 7 — 2 3 2 — — — — —
Insider Ownership 22.38%

Capital & Financial Ratios $m

Size
Market Cap 20,410.00
Revenue ttm 13,325.22
Net income ttm 676.07
Free cash flow ttm 1,119.04
Net debt Q 1,120.09
Valuation
P/E 30.70
Forward P/E 30.50
Price / sales 1.54
Forward P/S Powerpack
Price / FCF 18.31
Price / book 5.75
Financial health
Current ratio Q 1.23
Debt / equity Q 0.31 (at or below 0.5: strong)
Interest coverage Q 15.75
Growth
Revenue growth Q +20.44% (above 0%: growing)
Operating income growth Q +1.83% (above 0%: growing)
EPS, this year +18.47% (at or above 15%: strong)
EPS, next year A +35.98% (at or above 15%: strong)
Revenue, next year A +16.33% (at or above 10%: strong)
EPS, past 5 yrs +5.24%
EPS, next 5 yrs A +25.13% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 1.6×; over the ten years it ranged from 1.2× in 2025 to 2.3× in 2026.
P/E against its own 10 years 81.44%
10-year low 10-year high
P/S against its own 10 years 60.14%
10-year low 10-year high
P/B against its own 10 years 49.28%
10-year low 10-year high
EV/Sales against its own 10 years 59.08%
10-year low 10-year high
EV/FCF against its own 10 years 5.21%
10-year low 10-year high

Dividends raised every year since 2018

Yield
1.02%
Annual rate
2.24
Payout ratio
31.5%
Growth, 2018–26
+8.17%/yr
  1. 0.96 ’18
  2. 1.04 ’19 +8
  3. 1.08 ’20 +4
  4. 1.18 ’21 +9
  5. 1.60 ’22 +36
  6. 1.68 ’23 +5
  7. 1.72 ’24 +2
  8. 1.76 ’25 +2
  9. 1.80 ’26 +2
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 53 47 17 4
Receivables 1,566 1,482 1,360 1,611
Inventory 42 42 42 —
Other — — — —
1,961 1,771 1,604 1,937
2023 2024 2025 Q'26
Payables 737 646 656 890
ST’ Debt 250 500 700 —
Other — — — —
1,453 1,678 1,935 1,578

Compound Annual Growth %

10y 5y 3y
Sales 6.85% 4.48% (6.78%)
Cash Flow 6.75% 8.37% (1.89%)
Earnings 3.42% 3.41% (14.86%)
Book Value 10.61% 6.52% (0.93%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.81 Actual 1.82

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.81 1.90 Beat by 0.09
Q1 FY26 1.45 1.49 Beat by 0.04
Q2 FY26 1.71 1.91 Beat by 0.20
Q3 FY26 1.81 1.82 Beat by 0.01
Q4 FY26 2.03 — Reports 21 January 2027

EPS $

Mar Jun Sep Dec Year
’26 1.49 1.91 1.82 — —
’25 1.17 1.31 1.76 1.90 6.12
’24 1.22 1.32 1.49 1.53 5.56
’23 1.89 1.81 1.80 1.47 6.97
’22 2.29 2.42 2.57 1.92 9.21
’21 1.37 1.61 1.88 2.28 7.14
’20 0.98 1.14 1.18 1.44 4.74
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,056 3,495 3,677 — —
’25 2,921 2,928 3,053 3,097 11,999
’24 2,944 2,929 3,068 3,146 12,087
’23 3,230 3,133 3,164 3,304 12,830
’22 3,489 3,838 3,838 3,650 14,814
’21 2,618 2,908 3,145 3,497 12,168
’20 2,281 2,146 2,473 2,738 9,637
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 353 370 385 — —
’25 404 402 486 386 1,678
’24 466 361 338 318 1,483
’23 488 610 432 215 1,745
’22 292 493 571 421 1,777
’21 365 304 301 254 1,224
’20 249 391 271 212 1,123
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 282 296 239 — —
’25 179 228 395 302 1,103
’24 300 118 259 131 809
’23 108 136 (34) (65) 144
’22 3 184 151 8 345
’21 279 129 51 (112) 347
’20 120 255 87 60 522
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 6.3% a year for ten years. It grew 12.6% a year over the last ten.

Implied
6.3%
10 years, reported
12.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 6,555 7,190 8,615 9,165 9,637 12,168 14,814 12,830 12,087 11,999 13,325 +6.9% 13,958 15,467 16,730 +11.7%
Gross margin, % 42.45 40.81 39.67 41.90 41.41 39.61 40.42 44.40 46.01 46.23 42.82 +3.8 pt
EBT 696 595 641 681 666 1,000 1,281 935 760 794 896 +1.5%
EBT margin, % 10.61 8.28 7.44 7.43 6.91 8.22 8.65 7.29 6.28 6.62 6.73 (4.0) pt
Net income 432 686 490 516 506 761 969 728 571 598 676 +3.7%
Per share, $
Per share, $ Revenue 58.28 65.37 78.76 85.39 91.17 115.49 142.25 124.03 118.56 123.59 142.16 +8.7%
Earnings 3.81 6.18 4.43 4.75 4.74 7.14 9.21 6.97 5.56 6.12 7.12 +5.4%
Cash flow 7.59 7.78 9.95 10.23 10.62 11.62 17.06 16.87 14.55 17.29 15.94 +9.6%
Capex (4.31) (4.64) (8.10) (6.41) (5.68) (8.32) (13.75) (15.47) (6.62) (5.92) (4.00) +3.6%
Free cash flow 3.28 3.13 1.85 3.82 4.94 3.29 3.31 1.40 7.93 11.37 11.94 +14.8%
Book value 12.57 16.72 19.21 21.12 24.60 29.59 35.21 39.67 39.38 36.72 38.77 +12.6%
Shares, m 112 110 109 107 106 105 104 103 102 97 95 (1.6%)
Valuation, ×
Valuation, × P/E 25.33 18.75 20.96 24.43 28.83 28.63 18.76 28.05 30.69 31.65 30.70 25.6
P/S 1.66 1.78 1.18 1.37 1.50 1.77 1.21 1.58 1.44 1.57 1.54 1.5
P/B 7.70 6.94 4.84 5.53 5.56 6.91 4.90 4.93 4.33 5.29 5.75 5.7
EV/Sales 1.85 1.96 1.31 1.53 1.61 1.85 1.30 1.69 1.56 1.69 1.67 1.6
EV/FCF 32.84 40.88 55.93 34.24 29.66 64.81 55.86 150.58 23.28 18.41 19.93 50.6
Cash, $m
Cash, $m Operating cash flow 854 855 1,088 1,098 1,123 1,224 1,777 1,745 1,483 1,678 1,494 +7.8%
Capex (485) (511) (885) (688) (601) (877) (1,432) (1,600) (674) (575) (375) +1.9%
Free cash flow 369 345 202 410 522 347 345 144 809 1,103 1,119 +12.9%
Balance, $m
Balance, $m Working capital 373 417 151 446 757 584 644 509 93 (331) 359 n/m
Net debt 980 1,071 1,142 1,305 1,040 946 1,296 1,523 1,431 1,450 1,120 +4.4%
Shareholders’ equity 1,414 1,839 2,101 2,267 2,600 3,118 3,667 4,104 4,015 3,565 3,634 +10.8%
Returns, %
Returns, % ROA 11.40 16.31 10.25 9.78 8.88 11.96 13.30 8.90 6.76 7.37 8.35 (4.0) pt
ROIC 18.82 13.40 13.13 12.84 12.24 16.08 16.77 11.03 9.54 10.78 12.62 (8.0) pt
ROE 31.84 42.19 24.85 23.64 20.79 26.61 28.58 18.74 14.06 15.79 0.00 (16.0) pt
People
People Employees 22,190 24,681 23,410 29,056 30,309 33,045 37,151 29,114 33,646 31,750 — +4.1%
Revenue/emp, $m 0.30 0.29 0.37 0.32 0.32 0.37 0.40 0.44 0.36 0.38 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

J.B. Hunt Transport Services is a North American surface transportation, delivery and logistics company. Founded in 1961 and headquartered in Lowell, it provides freight movement, brokerage and delivery services in the continental United States, Canada and Mexico.

The company moves full truckloads in containers, trailers and trucks. Its Intermodal business combines rail linehaul with pickup and delivery by truck, allowing a shipment to move between rail ramps and its origin or destination. Its Dedicated Contract Services business designs and operates tailored transport networks for individual customers, supplying equipment, drivers, labor, systems and network design. These services can include specialized equipment, multiple stops and freight handling.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
JBI 5,975 49.80%
DCS 3,376 28.14%
ICS 1,109 9.24%
FMS 824 6.87%
JBT 734 6.12%
Gross margin 46.23%
Operating margin 7.21%
Pre-tax margin 6.62%

Revenue by segment since 2010

J.B. Hunt Transport Services, Inc. vs peers in Integrated Freight & Logistics (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
UPS United Parcel Service, Inc. $94.5B 21.3× 18.5× +6.71% (above 0%: growing) −11.83% (below 0%: shrinking) +33.65% (above 0%: growing) 75.37% 7.63% Compare
FDX FedEx Corporation $74.2B 19.4× 15.0× +11.86% (above 0%: growing) −68.48% (below 0%: shrinking) +62.20% (above 0%: growing) 66.20% 4.67% Compare
EXPD Expeditors International of Washington, Inc. $24.6B 23.9× 25.2× +41.90% (above 0%: growing) +60.74% (above 0%: growing) +2.11% (above 0%: growing) 29.55% 10.84% Compare
JBHT J.B. Hunt Transport Services, Inc. $20.4B 30.7× 30.5× +20.44% (above 0%: growing) +3.41% (above 0%: growing) −39.44% (below 0%: shrinking) 41.09% 6.72%
FDXF FedEx Freight Holding Company Inc. $18.6B — — — — −60.91% (below 0%: shrinking) 90.38% 10.36% Compare
CHRW C.H. Robinson Worldwide, Inc. $14.9B 22.7× 20.4× +29.52% (above 0%: growing) +24.26% (above 0%: growing) −58.50% (below 0%: shrinking) 15.09% 5.07% Compare
ZTO ZTO Express (Cayman) Inc. $11.4B 11.0× 10.2× +29.83% (above 0%: growing) +73.53% (above 0%: growing) +121.35% (above 0%: growing) 25.66% 22.19% Compare
GXO GXO Logistics, Inc. $6.3B 46.3× 30.9× +5.74% (above 0%: growing) +9.75% (above 0%: growing) −54.55% (below 0%: shrinking) 14.65% 2.67% Compare
LSTR Landstar System, Inc. $4.9B 30.8× 25.0× +25.26% (above 0%: growing) +153.29% (above 0%: growing) −17.47% (below 0%: shrinking) 21.93% 4.33% Compare
Median of peers $16.7B 22.7× 20.4× +25.26% +24.26% −7.68% 27.61% 6.35%

All 32 Integrated Freight & Logistics stocks →

From the latest earnings call

Updated

  • On the October call, management said third-quarter revenue rose 20.0% from a year earlier, while operating income also increased.
  • Management expects capital spending to increase in the fourth quarter while targeting about $700.0 million for the year.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Wells Fargo Oct 16, 2026 Target cut Outperform 305.00 → 285.00
Morgan Stanley Oct 16, 2026 Target cut Underperform 200.00 → 195.00
JPMorgan Oct 16, 2026 Target cut Outperform 287.00 → 283.00
Susquehanna Oct 7, 2026 Target cut — —
TD Cowen Oct 7, 2026 Target cut Hold 297.00 → 283.00
Citi Oct 7, 2026 Target cut Hold 309.00 → 254.00
BMO Capital Oct 7, 2026 Target cut Outperform 320.00 → 315.00
Truist Oct 7, 2026 Target cut — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.71%
Held by the ten largest 38.79%
Holder Shares Stake Change
Vanguard 9.52m 10.14% +18.28k
BlackRock 6.34m 6.75% +280.82k
AQR Capital Management 4.10m 4.37% +109.27k
State Street 3.99m 4.25% +191.51k
Jupiter Topco 3.08m 3.28% +3.08m
Geode Capital Management 2.08m 2.22% −18.86k
DZ Bank 2.06m 2.20% −466.48k
Morgan Stanley 1.88m 2.00% −810.00
Invesco 1.72m 1.83% +326.24k
UBS 1.65m 1.76% +223.18k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.00m 13.10m 148.91
2024 11.32m 9.04m 129.26
2023 8.26m 12.65m 149.87
2022 9.24m 5.61m 129.65
2021 8.80m 17.00m 150.63

Ownership

Directors and executive officers, together 2.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

J.B. Hunt Transport Services, Inc. (JBHT) Latest News

29 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Trefis

28 Oct

Impact 3 · · Trefis
Impact 3 · · Trefis

25 Oct

Impact 3 · · Simply Wall St.

23 Oct

Impact 3 · · truckingdive.com
Impact 3 · · Trefis

22 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

21 Oct

Impact 3 · · Insider Monkey

20 Oct

Impact 4 · · Trefis
Impact 3 · · Zacks

18 Oct

Impact 4 · · MarketBeat

16 Oct

Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · Trefis
Impact 3 · · Zacks
Impact 3 · · truckingdive.com
Impact 3 · · Stocktwits
Impact 3 · · Simply Wall St.
Impact 3 · · FreightWaves
Impact 3 · · MT Newswires

15 Oct

Impact 3 · · MarketBeat
Impact 3 · · FreightWaves
Impact 3 · · Zacks
Impact 3 · · Investing.com

JBHT metrics, ten years each

stockrow.com/JBHT · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com