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Landstar System, Inc.

LSTR Industrials Integrated Freight & Logistics

Landstar System, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.8 billion, down 1.58% from fiscal 2024.

Revenue
+25.3%
EPS
+153.3%
Free cash flow
−17.5%
Total debt
+7.18%

Quarter to September 2026, against a year earlier

145.33 5.92 −3.91%
Market cap
$4.9B
P/E
30.8×
Fwd P/E
25.0×
Dividend yield
2.50%
F-score
6/9
Altman Z
9.60
Beneish M
−2.87
Dividend safety
38/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.71
Sold, $m 2.75
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — 1 —
Sell — — — — — — 2 — — — — —
Insider Ownership 1.21%

Capital & Financial Ratios $m

Size
Market Cap 4,910.00
Revenue ttm 5,300.82
Net income ttm 160.38
Free cash flow ttm 164.58
Net debt Q (268.33)
Valuation
P/E 30.80
Forward P/E 25.00
Price / sales 0.93
Forward P/S Powerpack
Price / FCF 29.91
Price / book 5.93
Financial health
Current ratio Q 1.79 (at or above 1.5: strong)
Debt / equity Q 0.10 (at or below 0.5: strong)
Interest coverage Q 181.05
Growth
Revenue growth Q +25.26% (above 0%: growing)
Operating income growth Q +148.96% (above 0%: growing)
EPS, this year +74.55% (at or above 15%: strong)
EPS, next year A +30.65% (at or above 15%: strong)
Revenue, next year A +18.80% (at or above 10%: strong)
EPS, past 5 yrs −7.84% (below 0%: weak)
EPS, next 5 yrs A +36.39% (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 0.9×, against a ten-year median of 1.0×; over the ten years it ranged from 0.7× in 2022 to 1.4× in 2021.
P/E against its own 10 years 85.74%
10-year low 10-year high
P/S against its own 10 years 23.07%
10-year low 10-year high
P/B against its own 10 years 22.33%
10-year low 10-year high
EV/Sales against its own 10 years 20.57%
10-year low 10-year high
EV/FCF against its own 10 years 80.78%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.50%
Annual rate
3.64
Payout ratio
77.1%
Growth, 2017–25
+19.3%/yr
  1. 0.38 ’17
  2. 0.63 ’18 +66
  3. 0.70 ’19 +11
  4. 0.79 ’20 +13
  5. 0.92 ’21 +16
  6. 1.10 ’22 +20
  7. 1.26 ’23 +15
  8. 1.38 ’24 +10
  9. 1.56 ’25 +13
  10. 1.63 ’26e +5
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 541 567 452 351
Receivables 787 731 723 970
Inventory — — — —
Other 25 22 41 50
1,353 1,320 1,216 1,372
2023 2024 2025 Q'26
Payables 396 384 370 482
ST’ Debt 28 33 28 26
Other 118 125 173 189
675 673 696 766

Compound Annual Growth %

10y 5y 3y
Sales 3.66% 2.84% (13.85%)
Cash Flow 0.40% 1.31% (28.79%)
Earnings (2.47%) (9.75%) (35.62%)
Book Value 5.49% 2.84% (3.57%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.62 Actual 1.89

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.19 1.24 Beat by 0.05
Q1 FY26 1.11 1.16 Beat by 0.05
Q2 FY26 1.42 1.44 Beat by 0.02
Q3 FY26 1.62 1.89 Beat by 0.27
Q4 FY26 1.55 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 1.16 1.44 1.42 — —
’25 0.85 1.20 0.56 0.70 3.31
’24 1.32 1.48 1.41 1.31 5.51
’23 2.17 1.85 1.71 1.62 7.36
’22 3.34 3.05 2.76 2.60 11.76
’21 2.01 2.40 2.58 2.99 9.98
’20 1.04 0.63 1.61 1.70 4.98
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,174 1,435 1,514 — —
’25 1,156 1,215 1,209 1,178 4,757
’24 1,174 1,229 1,218 1,213 4,834
’23 1,437 1,376 1,292 1,208 5,313
’22 1,971 1,976 1,817 1,676 7,440
’21 1,288 1,571 1,735 1,946 6,540
’20 929 824 1,086 1,297 4,136
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 78 (50) 71 — —
’25 56 7 89 73 225
’24 94 48 83 61 287
’23 139 53 112 90 394
’22 95 115 227 186 623
’21 70 67 80 60 277
’20 99 99 (13) 25 211
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 74 (52) 72 — —
’25 58 6 87 71 222
’24 87 42 78 58 265
’23 134 49 111 81 376
’22 92 113 213 184 602
’21 66 63 71 56 256
’20 95 90 (18) 21 188
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
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 3,169 3,649 4,619 4,090 4,136 6,540 7,440 5,313 4,834 4,757 5,301 +4.6% 5,652 6,329 6,828 +12.8%
Gross margin, % 23.78 23.12 22.71 23.53 22.81 21.80 21.99 23.43 22.52 22.47 22.18 (1.3) pt
EBT 219 241 328 296 249 502 567 348 254 151 213 (4.1%)
EBT margin, % 6.92 6.60 7.11 7.23 6.02 7.67 7.63 6.55 5.26 3.17 4.01 (3.7) pt
Net income 137 177 255 228 192 382 431 264 196 115 160 (2.0%)
Per share, $
Per share, $ Revenue 75.25 87.01 111.91 102.79 107.15 171.06 203.09 147.92 136.03 137.04 156.50 +6.9%
Earnings 3.26 4.22 6.19 5.72 4.98 9.98 11.76 7.36 5.51 3.31 4.72 +0.2%
Cash flow 4.52 3.31 7.22 7.74 5.46 7.24 17.00 10.96 8.06 6.48 5.06 +4.1%
Capex (0.30) (0.28) (0.14) (0.39) (0.59) (0.53) (0.57) (0.48) (0.60) (0.09) (0.20) (12.9%)
Free cash flow 4.22 3.04 7.08 7.35 4.87 6.71 16.43 10.47 7.47 6.39 4.86 +4.7%
Book value 12.88 15.59 16.70 18.13 17.92 22.55 24.22 27.39 27.36 22.92 24.50 +6.6%
Shares, m 42 42 41 40 39 38 37 36 36 35 34 (2.1%)
Valuation, ×
Valuation, × P/E 26.21 24.82 15.43 19.87 27.04 17.94 13.93 25.77 31.13 43.41 30.80 24.6
P/S 1.14 1.20 0.85 1.11 1.26 1.05 0.81 1.28 1.26 1.05 0.93 1.1
P/B 6.65 6.70 5.73 6.28 7.51 7.94 6.76 6.92 6.28 6.27 5.93 6.7
EV/Sales 1.11 1.16 0.83 1.05 1.21 1.03 0.77 1.19 1.17 0.97 0.88 1.0
EV/FCF 19.69 33.09 13.13 14.67 26.66 26.15 9.48 16.84 21.27 20.79 28.28 20.2
Cash, $m
Cash, $m Operating cash flow 190 139 298 308 211 277 623 394 287 225 171 +1.9%
Capex (12) (12) (6) (15) (23) (20) (21) (17) (21) (3) (7) (14.8%)
Free cash flow 178 127 292 292 188 256 602 376 265 222 165 +2.5%
Balance, $m
Balance, $m Working capital 357 413 436 445 402 513 561 678 647 520 606 +4.3%
Net debt (107) (166) (111) (240) (190) (139) (290) (470) (464) (375) (268) +14.9%
Shareholders’ equity 543 654 689 721 692 862 887 984 972 796 830 +4.3%
Returns, %
Returns, % ROA 13.16 14.46 18.68 16.22 12.47 20.63 21.67 14.16 10.84 6.67 9.24 (6.5) pt
ROIC 32.05 31.27 35.89 38.77 31.50 43.74 59.78 41.82 30.62 22.54 23.88 (9.5) pt
ROE 27.23 29.60 38.02 32.29 27.19 49.11 49.27 28.26 20.03 13.01 18.66 (14.2) pt
People
People Employees 1,197 1,273 1,306 1,333 1,320 1,399 1,449 1,468 1,441 1,378 — +1.6%
Revenue/emp, $m 2.65 2.87 3.54 3.07 3.13 4.68 5.13 3.62 3.35 3.45 — +3.0%
Negative figures in brackets.
estimates

All 10 years →

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

Landstar System, 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
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% Compare
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%
PBI Pitney Bowes Inc. $2.1B 11.8× 11.0× −0.76% (below 0%: shrinking) +24.23% (above 0%: growing) +175.08% (above 0%: growing) 54.21% 22.62% Compare
HUBG Hub Group, Inc. $1.5B 14.3× 15.0× −5.31% (below 0%: shrinking) +23.08% (above 0%: growing) −37.43% (below 0%: shrinking) 26.84% 4.22% Compare
Median of peers $13.1B 22.7× 20.4× +20.44% +24.23% −38.43% 28.20% 8.54%

All 32 Integrated Freight & Logistics stocks →

Pay and ownership Proxy statement filed 23 March 2026

Ownership

Directors and executive officers, together less than 1%
Kayne Anderson Rudnick Investment Management LLC 11.10%
The Vanguard Group 10.20%
BlackRock, Inc. 9.90%
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

Landstar System, Inc. (LSTR) Latest News

31 Oct

Impact 3 · · StockStory

30 Oct

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29 Oct

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28 Oct

Impact 4 · · TheStreet
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Impact 4 · · The Motley Fool transcript
Impact 3 · · Simply Wall St.
Impact 3 · · Associated Press
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27 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · FreightWaves
Impact 3 · · MarketBeat
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Impact 3 · · Zacks earnings
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26 Oct

Impact 3 · · Zacks
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22 Oct

Impact 3 · · Zacks

21 Oct

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20 Oct

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23 Sep

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31 Aug

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10 Aug

Impact 4 ·
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6 Aug

Impact 4 ·

2 Aug

Impact 3 ·

LSTR metrics, ten years each

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