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Marten Transport, Ltd.

MRTN Industrials Trucking

Marten Transport, Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $883.7 million, down 8.31% from fiscal 2024. In the quarter to June 2026, revenue fell 2.77%, EPS fell 22.2% and free cash flow grew 100,952.6%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

12.84 0.05 −0.39%
Market cap
$1.1B
P/E
75.5×
Fwd P/E
59.2×
Dividend yield
1.87%
F-score
6/9
Altman Z
5.22
Beneish M
−2.82
Dividend safety
53/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 29.34%

Capital & Financial Ratios $m

Market Cap 1,050.00
Revenue 857.65
Net Income 12.64
Free Cash Flow 92.67
Net Debt (103.98)
Current Ratio 2.50 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 75.53 (above 35: high)
Fwd P/E 59.20 (above 35: high)
P/S ratio 1.22
P/B ratio 1.37
Past 5Y EPS Growth (24.21%) (below 0%: weak)
This Y EPS Growth 25.40% (at or above 15%: strong)
Next Y EPS Growth 134.18% (at or above 15%: strong)
Next Y revenue growth 1.39%
Next 5Y EPS Growth 56.18% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 1.3×; over the ten years it ranged from 0.9× in 2025 to 1.8× in 2018.
P/E against its own 10 years 95.61%
10-year low 10-year high
P/S against its own 10 years 25.18%
10-year low 10-year high
P/B against its own 10 years 7.04%
10-year low 10-year high
EV/Sales against its own 10 years 15.81%
10-year low 10-year high
EV/FCF against its own 10 years 0.53%
10-year low 10-year high

Dividends

Payout Ratio 1.41
Annual Dividend Rate 0.24
Annual Dividend Yield 1.87%
total individual payouts
2027 Powerpack
2026 0.24
0.06
0.06
0.06
2025 0.24
0.06
0.06
0.06
0.06
2024 0.24
0.06
0.06
0.06
0.06
2023 0.24
0.06
0.06
0.06
0.06
2022 0.24
0.06
0.06
0.06
0.06
2021 0.12
0.04
0.04
0.50
0.04
2020 0.13
0.03
0.03
0.04
0.04
2019 0.06
0.02
0.02
0.43
0.02
2018 0.07
0.02
0.02
0.02
0.02
2017 0.05
0.01
0.01
0.02
0.02
2016 0.04
0.01
0.01
0.01
0.01
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 53 17 43 104
Receivables 116 95 99 104
Inventory — — — —
Other — — 5 5
197 139 172 238
2023 2024 2025 Q'26
Payables 37 26 29 28
ST’ Debt — — — —
Other — — — —
110 94 92 95

Compound Annual Growth %

10y 5y 3y
Sales 2.88% 0.21% (11.25%)
Cash Flow (3.14%) (13.19%) (24.76%)
Earnings (6.92%) (24.15%) (45.93%)
Book Value 6.49% 4.35% 2.93%

Revenue $m

Mar Jun Sep Dec Year
’26 204 224 — — —
’25 223 230 220 210 884
’24 250 246 237 230 964
’23 298 286 280 268 1,131
’22 287 330 324 323 1,264
’21 223 232 251 267 974
’20 219 212 216 227 874
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 33 28 — — —
’25 36 33 19 6 93
’24 46 36 29 24 135
’23 49 49 28 38 164
’22 40 59 65 56 219
’21 44 40 45 43 171
’20 43 61 51 35 190
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 31 38 — — —
’25 28 0 24 (2) 51
’24 26 8 (30) (21) (17)
’23 21 (11) (8) (10) (8)
’22 40 23 7 14 85
’21 26 (4) 4 22 48
’20 7 38 16 22 83
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.02 0.07 — — —
’25 0.05 0.09 0.03 0.05 0.21
’24 0.12 0.10 0.05 0.07 0.33
’23 0.28 0.27 0.17 0.15 0.86
’22 0.33 0.39 0.32 0.31 1.35
’21 0.22 0.26 0.26 0.30 1.02
’20 0.17 0.22 0.22 0.24 0.84
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
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 6.20 8.54 10.26 10.59 10.67 14.72 15.76 17.34 15.33 9.35

Analyst estimates 2026–2028

Powerpack
High 10.82 14.10 19.73 15.20 20.13 18.32 23.43 23.38 21.08 16.95
People
People Employees 3,622 3,492 3,589 4,087 4,162 4,007 4,575 4,213 3,776 3,502
Revenue/emp, $m 0.19 0.20 0.22 0.21 0.21 0.24 0.28 0.27 0.26 0.25
Income, $m
Income, $m Revenue 671 698 788 843 874 974 1,264 1,131 964 884
Gross margin, % 69.49 67.95 66.20 66.76 71.09 66.67 62.94 66.44 67.18 67.28
EBT 57 56 71 78 93 112 144 94 36 24
EBT margin, % 8.50 8.09 9.02 9.21 10.68 11.48 11.41 8.30 3.77 2.76
Net income 33 90 55 61 70 85 110 70 27 17
Depreciation 82 85 89 95 103 103 111 117 112 105
Per share, $
Per share, $ Revenue 8.26 8.54 9.62 10.29 10.60 11.75 15.47 13.92 11.84 10.84
Earnings 0.41 1.11 0.67 0.75 0.84 1.03 1.35 0.87 0.33 0.21
Cash flow 1.65 1.49 1.88 1.91 2.30 2.07 2.69 2.02 1.66 1.15
Capex (1.20) (1.17) (1.28) (1.73) (1.29) (1.49) (1.65) (2.12) (1.87) (0.53)
Free cash flow 0.45 0.33 0.60 0.18 1.01 0.57 1.04 (0.10) (0.21) 0.62
Book value 5.38 6.43 7.03 7.29 7.52 7.86 8.62 9.32 9.43 9.42
Shares, m 81 82 82 82 83 83 82 81 81 82
Valuation, ×
Valuation, × P/E 23.19 12.57 16.02 19.19 20.35 16.50 14.50 23.60 45.91 51.73
P/S 1.15 1.62 1.12 1.39 1.63 1.46 1.26 1.47 1.32 1.05
P/B 1.76 2.15 1.53 1.97 2.29 2.18 2.27 2.20 1.65 1.21
EV/Sales 1.16 1.61 1.06 1.36 1.56 1.41 1.21 1.43 1.31 1.01
EV/FCF 21.23 42.19 16.91 77.71 16.37 28.90 18.04 (199.97) (73.02) 17.61
Cash, $m
Cash, $m Operating cash flow 134 122 154 156 190 171 219 164 135 93
Capex (97) (95) (105) (142) (106) (124) (135) (172) (152) (43)
Free cash flow 37 27 49 15 83 48 85 (8) (17) 51
Balance, $m
Balance, $m Working capital 33 52 92 78 86 93 112 86 45 79
Total debt 8 — — 1 0 0 0 — — —
Net debt 7 (16) (57) (31) (66) (57) (81) (53) (17) (43)
Shareholders’ equity 437 526 576 598 620 652 704 757 768 768
Returns, %
Returns, % ROA 5.21 13.43 7.62 7.88 8.54 10.04 12.02 7.20 2.75 1.82
ROIC 8.19 6.97 8.47 8.45 10.52 11.74 14.37 8.00 2.77 1.98
ROE 7.90 18.75 9.99 10.41 11.41 13.43 16.28 9.63 3.53 2.27
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Marten Transport, Ltd. 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%
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% Compare
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 $1.4B 186× 33.5× +10.17% +11.40% +6.38% 44.95% 2.24%

All 18 Trucking stocks →

Marten Transport, Ltd. (MRTN) key facts

  • Concern: Marten Transport, Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $883.7 million, down 8.31% from fiscal 2024.
  • Concern: Net income was $17.4 million, or $0.21 per share (basic), a net margin of 1.97%.
  • Marten Transport, Ltd. (MRTN) is a Trucking company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, MRTN traded at $12.84, a market capitalization of $1.1 billion.
  • At that price the stock trades at 75.5× trailing-twelve-month earnings and 1.2× sales; its P/E is higher than 96% of its own readings over the past ten years.
  • Marten Transport, Ltd. pays an annual dividend of $0.24 per share, a yield of 1.87%, with a payout ratio of 141.2%.
  • Return on equity was 2.27% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 5.22 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Marten Transport, Ltd. (MRTN) Latest News

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