Knight-Swift Transportation Holdings

KNX

Trucking · Industrials

Price

$71.60

+2.19 (+3.16%)

Market Cap

$11.65B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Strong

Stability

Strong

Valuation

Good

Dividends

Good

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Share count falling — buybacks

−2.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 167.1M (2021) → 162.9M (2025)

Winston Score History

The full picture

Knight-Swift Transportation Holdings is one of the largest trucking companies in the United States. It moves freight — things like retail goods, food, and industrial products — across North America for businesses of all sizes. The company operates under several brands, including Knight, Swift, and Heartland, and also runs a less-than-truckload (LTL) segment after acquiring AAA Cooper and other carriers.

Knight-Swift earns money by charging customers to haul their goods, either by the truckload or in shared shipments. It operates primarily in the U.S. and Mexico, with a fleet of tens of thousands of trucks and trailers, making it one of the country's largest asset-based carriers. The trucking industry is highly competitive and sensitive to economic cycles, and Knight-Swift's low operating margin reflects the current freight downturn that has pressured pricing across the industry. The key growth driver is a recovery in freight demand and the continued buildout of its LTL network, which typically carries higher margins than traditional truckload hauling.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+28.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

2.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$186M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Knight-Swift Transportation Holdings is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

8.5%

Thin — 8.5% gross margin

Profit after running costs

Operating Margin

5.0%

Thin — 5.0% operating margin

Return on the money invested

ROCE

2.8%

Weak — 2.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+4.1%

Slow sales growth (+4.1% YoY)

Profit growth

EPS YoY

-73.7%

Earnings shrinking (-73.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

3240%

Turns 3240% of profit into real cash

Spare cash per sale

FCF Margin

10.9%

Modest free cash flow (10.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.24

Conservative — low debt load (0.24)

Covers its interest

Interest Cover

2.80x

Tight — interest eats into profit (2.8x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

266.8x

Expensive — P/E 266.8

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+236.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (266.8 → 30.4)

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Dividends

Dividend

Dividend Yield

1.12%

Small dividend — 1.12% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+11.4%

Dividend growing fast (11.4% YoY)

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