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TFI International Inc.

TFII Industrials Trucking

TFI International Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.9 billion, down 6.10% from fiscal 2024.

Revenue
+13.4%
EPS
+26.1%
Free cash flow
−41.2%
Total debt
+0.68%

Quarter to September 2026, against a year earlier

96.66 3.59 −3.58%
Market cap
$7.9B
P/E
22.2×
Fwd P/E
19.2×
Dividend yield
1.94%
F-score
7/9
Altman Z
2.70
Beneish M
−2.92
Dividend safety
76/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 6.37%

Capital & Financial Ratios $m

Size
Market Cap 7,940.00
Revenue ttm 8,385.18
Net income ttm 356.83
Free cash flow ttm 634.22
Net debt Q 2,220.55
Valuation
P/E 22.24
Forward P/E 19.20
Price / sales 0.95
Forward P/S Powerpack
Price / FCF 12.53
Price / book 2.83
Financial health
Current ratio Q 1.11
Debt / equity Q 0.86
Interest coverage Q 4.28
Growth
Revenue growth Q +13.39% (above 0%: growing)
Operating income growth Q +17.38% (above 0%: growing)
EPS, this year +27.90% (at or above 15%: strong)
EPS, next year A +25.33% (at or above 15%: strong)
Revenue, next year A +9.57%
EPS, past 5 yrs +4.19%
EPS, next 5 yrs A +24.75% (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 1.2×, against a ten-year median of 1.5×; over the ten years it ranged from 1.0× in 2022 to 2.4× in 2021.
P/E against its own 10 years 68.81%
10-year low 10-year high
P/S against its own 10 years 17.29%
10-year low 10-year high
P/B against its own 10 years 19.22%
10-year low 10-year high
EV/Sales against its own 10 years 21.07%
10-year low 10-year high
EV/FCF against its own 10 years 45.40%
10-year low 10-year high

Dividends raised 5 years running

Yield
1.94%
Annual rate
1.88
Payout ratio
43.4%
Growth, 2017–25
+14.8%/yr
  1. 0.60 ’17
  2. 0.66 ’18 +9
  3. 0.80 ’19 +22
  4. 0.80 ’20 −1
  5. 0.96 ’21 +20
  6. 1.16 ’22 +21
  7. 1.45 ’23 +25
  8. 1.65 ’24 +14
  9. 1.82 ’25 +10
  10. 1.91 ’26e +5
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 336 — 210 187
Receivables 918 940 908 1,142
Inventory 24 18 20 21
Other 2 14 12 20
1,336 1,037 1,209 1,440
2023 2024 2025 Q'26
Payables 672 639 667 803
ST’ Debt 174 93 222 186
Other 90 115 100 136
1,066 1,019 1,170 1,291

Compound Annual Growth %

10y 5y 3y
Sales — 15.83% (3.64%)
Cash Flow — 9.87% 0.21%
Earnings — 2.41% (27.74%)
Book Value — 8.40% 2.82%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 1.75 Actual 1.67

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.85 1.09 Beat by 0.24
Mar 2026 0.59 0.69 Beat by 0.10
Jun 2026 1.59 1.85 Beat by 0.26
Sep 2026 1.75 1.67 Miss by 0.08
Dec 2026 1.69 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.53 1.65 1.28 — —
’25 0.66 1.17 1.02 0.87 3.72
’24 1.09 1.38 1.50 1.03 4.96
’23 1.27 1.47 1.54 1.53 5.80
’22 1.57 3.00 2.72 1.74 9.02
’21 0.70 4.42 1.40 1.52 7.91
’20 0.66 0.57 0.89 0.91 3.03
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,949 2,290 2,232 — —
’25 1,964 2,038 1,969 1,914 7,885
’24 1,871 2,265 2,185 2,077 8,397
’23 1,850 1,791 1,911 1,969 7,521
’22 2,192 2,422 2,242 1,957 8,812
’21 1,149 1,837 2,094 2,141 7,220
’20 925 798 936 1,122 3,781
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 122 256 235 — —
’25 194 247 255 282 978
’24 201 249 351 262 1,063
’23 232 200 279 303 1,014
’22 138 248 338 248 972
’21 155 299 211 190 855
’20 137 168 141 165 611
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 110 196 115 — —
’25 169 176 195 214 754
’24 135 145 244 204 729
’23 180 135 175 233 723
’22 90 216 285 152 744
’21 134 266 164 109 672
’20 120 158 113 128 519
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
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 2,981 3,870 3,767 3,904 3,781 7,220 8,812 7,521 8,397 7,885 8,385 +11.4% 8,639 8,999 9,576 +6.7%
Gross margin, % 12.05 10.54 13.57 45.31 45.73 47.16 47.89 49.40 50.32 50.57 48.71 +38.5 pt
EBT 150 94 281 321 363 906 1,066 677 561 405 461 +11.6%
EBT margin, % 5.04 2.42 7.46 8.22 9.59 12.55 12.09 9.00 6.68 5.14 5.50 +0.1 pt
Net income 116 0 215 244 276 754 823 505 422 311 357 +11.5%
Per share, $
Per share, $ Revenue 31.72 43.00 42.81 46.81 42.43 77.59 98.62 87.55 99.31 94.92 102.02 +13.0%
Earnings 1.17 1.40 2.44 2.85 3.09 8.11 9.21 5.88 5.00 3.72 4.35 +13.7%
Cash flow 2.65 2.84 4.55 5.86 6.85 9.19 10.87 11.80 12.57 11.77 10.88 +18.0%
Capex 0.00 0.00 0.00 (2.31) (1.04) (1.97) (2.55) (3.39) (3.95) (2.70) (3.17) n/m
Free cash flow 2.65 2.84 4.55 3.54 5.82 7.23 8.32 8.41 8.62 9.07 7.72 +14.7%
Book value 11.50 12.58 13.18 13.90 20.07 24.83 27.56 30.16 31.62 32.23 34.17 +12.1%
Shares, m 94 90 88 83 89 93 89 86 85 83 82 (1.4%)
Valuation, ×
Valuation, × P/E 5.15 4.05 2.91 47.74 16.69 13.81 10.98 22.85 26.86 27.71 22.24 17.9
P/S 0.00 0.00 0.00 0.00 1.22 1.44 1.02 1.53 1.36 1.09 0.95 0.8
P/B 0.00 0.00 0.00 0.00 2.57 4.52 3.63 4.43 4.27 3.21 2.83 2.3
EV/Sales 0.00 0.00 0.00 0.00 1.45 1.66 1.15 1.73 1.64 1.39 1.21 0.9
EV/FCF 0.00 0.00 0.00 0.00 10.54 17.88 13.60 18.03 18.89 14.53 16.03 9.3
Cash, $m
Cash, $m Operating cash flow 249 256 400 488 611 855 972 1,014 1,063 978 895 +16.4%
Capex (83) (209) (235) (193) (92) (183) (228) (291) (334) (224) (260) +11.6%
Free cash flow 249 256 400 295 519 672 744 723 729 754 634 +13.1%
Balance, $m
Balance, $m Working capital 42 93 39 39 (2) (245) 297 270 18 39 148 (1.0%)
Net debt 1,170 1,206 1,174 1,343 868 1,589 1,169 1,549 2,403 2,368 2,221 +8.1%
Shareholders’ equity 1,081 1,132 1,160 1,159 1,789 2,310 2,463 2,591 2,673 2,678 2,809 +10.6%
Returns, %
Returns, % ROA 3.70 8.47 7.20 7.20 7.50 15.51 14.46 8.56 6.28 4.23 4.88 +0.5 pt
ROIC 0.00 0.00 0.00 9.56 9.80 15.70 19.72 11.44 8.85 7.00 7.76 +7.0 pt
ROE 9.98 11.42 18.74 20.15 18.70 36.81 34.49 19.98 16.05 11.61 13.10 +1.6 pt
People
People Employees — — — — 16,753 29,539 25,836 25,123 27,205 24,900 — +8.2%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.23 0.24 0.34 0.30 0.31 0.32 — n/m
Negative figures in brackets.
estimates

All 10 years →

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

TFI International Inc. 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
ODFL Old Dominion Freight Line, Inc. $35.4B 30.4× 29.1× +13.10% (above 0%: growing) +28.67% (above 0%: growing) +123.99% (above 0%: growing) 97.80% 28.46% Compare
XPO XPO, Inc. $20.6B 41.2× 37.4× +12.41% (above 0%: growing) +124.64% (above 0%: growing) +31.67% (above 0%: growing) 100.00% 12.18% Compare
KNX Knight-Swift Transportation Holdings Inc. $9.7B 62.7× 34.5× +14.21% (above 0%: growing) +1,360.00% (above 0%: growing) +752.41% (above 0%: growing) 69.85% 8.12% Compare
SAIA Saia, Inc. $8.9B 31.4× 30.0× +17.01% (above 0%: growing) +5.57% (above 0%: growing) +4.02% (above 0%: growing) 69.15% 12.45% Compare
TFII TFI International Inc. $7.9B 22.2× 19.2× +13.39% (above 0%: growing) +26.10% (above 0%: growing) −41.17% (below 0%: shrinking) 47.44% 8.06%
SNDR Schneider National, Inc. $5.0B 34.8× 28.4× +9.15% (above 0%: growing) +154.55% (above 0%: growing) +5.52% (above 0%: growing) 52.35% 3.92% Compare
RXO RXO INC $4.6B — (loss-making) — (loss-making) +31.67% (above 0%: growing) n/m +33.33% (above 0%: growing) 14.70% 0.91% Compare
ARCB ArcBest Corporation $3.0B 104× 35.1× +15.49% (above 0%: growing) +33.79% (above 0%: growing) +77.41% (above 0%: growing) 6.06% 6.06% Compare
WERN Werner Enterprises, Inc. $1.7B — (loss-making) 70.4× +23.20% (above 0%: growing) n/m +581.60% (above 0%: growing) 50.52% 1.79% Compare
Median of peers $6.9B 38.0× 34.5× +14.85% +79.21% +55.37% 60.75% 7.09%

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TFII metrics, ten years each

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