Friday 6 November 2026 Export KNX’s income statement to Excel — free account

Knight-Swift Transportation Holdings Inc.

Knight-Swift Transportation Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.5 billion, up 0.80% from fiscal 2024.

Revenue: +14.2%
EPS: +1,360.0%
Free cash flow: +752.4%
Total debt: −3.78%

Quarter to September 2026, against a year earlier

Dividend growth 10 yrs

59.59 2.77 −4.44%

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Market cap: $9.7B
P/E: 62.7×
Fwd P/E: 34.5×
Dividend yield: 1.31%
F-score: 6/9
Altman Z: 2.02
Beneish M: −3.44
Dividend safety: 53/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Knight-Swift Transportation Holdings Inc. (KNX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Truckload	4,865	65.13%
LTL	1,479	19.79%
Logistics	570	7.63%
Intermodal	365	4.89%
Other, not broken out	191	2.56%
Gross margin		73.66%
Operating margin		2.89%
Pre-tax margin		1.28%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2010
Revenue, excluding truckload and LTL fuel surcharge	6,692 89.59%	6,612 89.23%	6,308 88.33%	6,508 87.61%	5,532 92.23%	4,369 93.48%	4,395 90.74%	4,810 90.00%	2,199 90.68%	—	—
Truckload and LTL fuel surcharge	778 10.41%	798 10.77%	834 11.67%	920 12.39%	466 7.77%	305 6.52%	449 9.26%	534 10.00%	226 9.32%	—	—
Revenue, excluding fuel surcharge	—	—	—	—	—	—	—	—	—	1,028 91.96%	—
Fuel surcharge revenue	—	—	—	—	—	—	—	—	—	90 8.04%	—
Trucking	—	—	—	—	—	—	—	—	—	—	2,079 70.95%
Dedicated Trucking	—	—	—	—	—	—	—	—	—	—	514 17.54%
Rail Intermodal	—	—	—	—	—	—	—	—	—	—	212 7.25%
Non Reportable Segments	—	—	—	—	—	—	—	—	—	—	143 4.88%
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	(18) (0.62%)
Subtotal	—	—	—	—	—	—	—	—	—	—	2,805
Revenue	7,470	7,410	7,142	7,429	5,998	4,674	4,844	5,344	2,425	1,118	2,930

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2010
Trucking	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Dedicated Trucking	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rail Intermodal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non Reportable Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2013	FY2012	FY2011
Truckload	4,865 65.13%	5,035 67.95%	4,699 65.79%	4,531 61.00%	4,098 68.32%	3,786 81.00%	3,953 81.60%	4,290 80.28%	1,970 81.24%	—	—	2,313 56.17%	2,282 57.40%	2,336 61.82%
LTL	1,479 19.79%	1,236 16.67%	1,082 15.16%	1,070 14.40%	396 6.61%	0 0.00%	0 0.00%	—	—	—	—	—	—	—
Logistics	570 7.63%	570 7.69%	582 8.15%	921 12.39%	817 13.62%	376 8.04%	353 7.29%	436 8.16%	236 9.73%	—	—	—	—	—
Intermodal	365 4.89%	387 5.23%	411 5.75%	486 6.54%	459 7.65%	391 8.38%	455 9.40%	499 9.33%	150 6.20%	—	—	—	—	—
Corporate, Non-Segment	—	—	—	—	—	—	—	—	94 3.87%	—	—	—	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	(25) (1.03%)	(9) (0.83%)	(18) (1.56%)	(50) (1.22%)	(71) (1.78%)	(60) (1.60%)
Knight Trucking	—	—	—	—	—	—	—	—	—	900 80.53%	952 80.48%	—	—	—
Knight Logistics	—	—	—	—	—	—	—	—	—	227 20.30%	249 21.08%	—	—	—
Swift Dedicated	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—
Swift Intermodal	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—
Swift Non-Reportable	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—
Swift Refrigerated	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	453 10.99%	416 10.46%	447 11.83%
Swift Truckload	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—
Dedicated Trucking	—	—	—	—	—	—	—	—	—	—	—	739 17.94%	724 18.22%	625 16.55%
Rail Intermodal	—	—	—	—	—	—	—	—	—	—	—	376 9.13%	355 8.94%	238 6.29%
Non Reportable Segments	—	—	—	—	—	—	—	—	—	—	—	288 6.99%	269 6.76%	193 5.11%
Other, not broken out	191 2.56%	182 2.46%	368 5.15%	421 5.67%	228 3.80%	121 2.58%	83 1.71%	119 2.23%	—	—	—	—	—	—
Subtotal	—	—	—	—	—	—	—	—	2,357	1,127	1,201	3,881	3,778	3,646
Revenue	7,470	7,410	7,142	7,429	5,998	4,674	4,844	5,344	2,425	1,118	1,183	4,118	3,976	3,779

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2013	FY2012	FY2011
Truckload	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
LTL	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Logistics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intermodal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate, Non-Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Knight Trucking	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Knight Logistics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Swift Dedicated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Swift Intermodal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Swift Non-Reportable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Swift Refrigerated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Swift Truckload	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Dedicated Trucking	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non Reportable Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rail Intermodal	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
LTL average length of haul	Q3 FY2026	715.00	673.00	+6.24%
LTL average tractors	Q3 FY2026	4.3K	4.2K	+2.91%
LTL average trailers	Q3 FY2026	11.6K	11.0K	+5.55%
LTL revenue per hundredweight	Q3 FY2026	$23.42	$21.39	+9.49%
LTL revenue per shipment	Q3 FY2026	$246.55	$215.07	+14.64%
LTL revenue xFSC per hundredweight	Q3 FY2026	$18.30	$18.43	−0.71%
LTL revenue xFSC per shipment	Q3 FY2026	$192.70	$185.27	+4.01%
LTL shipments per day	Q3 FY2026	24.7K	25.0K	−1.39%
LTL weight per shipment	Q3 FY2026	1.1K	1.0K	+4.78%
Revenue per load - brokerage only	Q3 FY2026	$2,885.00	$1,967.00	+46.67%
Truckload average length of haul	Q3 FY2026	378.00	368.00	+2.72%
Truckload average revenue per tractor	Q3 FY2026	$56,419.00	$50,864.00	+10.92%
Truckload average tractors	Q3 FY2026	20.5K	21.3K	−3.98%
Truckload average trailers	Q3 FY2026	81.0K	89.4K	−9.36%
Truckload miles per tractor	Q3 FY2026	21.1K	21.3K	−0.91%
Truckload non-paid empty miles percentage	Q3 FY2026	12.1%	13.8%	—
Truckload revenue per loaded mile growth	Q3 FY2026	9.70%	—	—

	Q3 FY2026	Q2 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024
LTL average length of haul	‡	‡	‡	‡	‡	‡	‡	‡
LTL average tractors	‡	‡	‡	‡	‡	‡	‡	‡
LTL average trailers	‡	‡	‡	‡	‡	‡	‡	‡
LTL revenue per hundredweight	‡	‡	‡	‡	‡	‡	‡	‡
LTL revenue per shipment	‡	‡	‡	‡	‡	‡	‡	‡
LTL revenue xFSC per hundredweight	‡	‡	‡	‡	‡	‡	‡	‡
LTL revenue xFSC per shipment	‡	‡	‡	‡	‡	‡	‡	‡
LTL shipments per day	‡	‡	‡	‡	‡	‡	‡	‡
LTL weight per shipment	‡	‡	‡	‡	‡	‡	‡	‡
Revenue per load - brokerage only	‡	‡	‡	‡	‡	‡	‡	‡
Truckload average length of haul	‡	‡	‡	‡	‡	‡	‡	‡
Truckload average revenue per tractor	‡	‡	‡	‡	‡	‡	‡	‡
Truckload average tractors	‡	‡	‡	‡	‡	‡	‡	‡
Truckload average trailers	‡	‡	‡	‡	‡	‡	‡	‡
Truckload miles per tractor	‡	‡	‡	‡	‡	‡	‡	‡
Truckload non-paid empty miles percentage	‡	‡	‡	‡	‡	‡	‡	‡
Truckload revenue per loaded mile growth	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.

Knight-Swift Transportation Holdings Inc. (KNX) revenue by segment, product and region

Where the money comes from and where it goes

Revenue by product or service $m

Operating income by segment $m, and margin

Revenue by segment $m

Operating income by segment $m, and margin

Operating figures as reported in each quarter’s results release or filing

Stockrow Weekly