Knight-Swift Transportation Holdings Inc.
KNX Industrials Trucking
Knight-Swift Transportation Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.5 billion, up 0.80% from fiscal 2024. In the quarter to June 2026, revenue grew 12.6%, EPS grew 28.6%, free cash flow grew 41.9% and total debt rose 4.94%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Knight-Swift Transportation Holdings Inc. (KNX) Altman Z-score
Knight-Swift Transportation Holdings Inc.'s Altman Z-score for fiscal 2025 is 2.02, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.02 | 0.18 |
| FY2024 | 1.84 | (0.05) |
| FY2023 | 1.89 | (0.79) |
| FY2022 | 2.68 | 0.01 |
| FY2021 | 2.66 | (0.02) |
| FY2020 | 2.68 | 0.30 |
| FY2019 | 2.39 | 0.13 |
| FY2018 | 2.26 | 0.44 |
| FY2017 | 1.82 | (6.02) |
| FY2016 | 7.84 | 6.66 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.01) | — | −0.01 | |
| Retained earnings / total assets | 0.22 | — | 0.30 | |
| EBIT / total assets | 0.02 | — | 0.06 | |
| Market value of equity / total liabilities | 1.74 | — | 1.05 | |
| Sales / total assets | 0.62 | — | 0.62 | |
| Altman Z-score | Grey zone | 2.02 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.28 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| ODFL Old Dominion Freight Line, Inc. compare | 20.0× |
| SAIA Saia, Inc. compare | 8.0× |
| ARCB ArcBest Corporation compare | 3.5× |
| SNDR Schneider National, Inc. compare | 3.4× |
| XPO XPO, Inc. compare | 2.9× |
| WERN Werner Enterprises, Inc. compare | 2.8× |
| TFII TFI International Inc. compare | 2.7× |
| RXO RXO INC compare | 2.3× |
| KNX Knight-Swift Transportation Holdings Inc. | 2.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets