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Saia

SAIA
44
Trucking · Industrials
Price
$362.15
+2.52 (+0.70%)
Market Cap
$9.66B
Exchange
NASDAQ
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Strong
Stability
Exceptional
Valuation
Good

Winston Score History

The full picture

Saia, Inc. is a trucking company that moves freight across the United States for businesses. It specializes in less-than-truckload (LTL) shipping, which means it combines smaller shipments from multiple customers into one truck rather than dedicating a whole truck to one company. Customers include manufacturers, retailers, and distributors who need reliable regional and national freight delivery.

Saia earns money by charging businesses for each shipment based on weight, distance, and speed of delivery. The company operates a network of over 200 terminals across all 48 contiguous states, making it one of the larger national LTL carriers in the country. Its competitive edge comes from its expanding terminal network, which took years and significant capital to build and is difficult for new competitors to replicate. The main risk Saia faces is that freight volumes are closely tied to the broader economy — when businesses slow down and ship less, revenue and profits can fall quickly.

Growth Profile

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

Revenue Growth

+17.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+31.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

0.3%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$84M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Saia is a rare growth stock that's already generating positive cash flow while growing at 17%. 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.

Share count broadly stable

+0.3% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 26.7M (2021) → 26.8M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
18.2%
Thin — 18.2% gross margin
Profit after running costs
Operating Margin
13.1%
Healthy — 13.1% operating margin
Return on the money invested
ROCE
13.3%
Good — 13.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+4.8%
Slow sales growth (+4.8% YoY)
Profit growth
EPS YoY
-4.2%
Earnings shrinking (-4.2% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
1/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
218%
Turns 218% of profit into real cash
Spare cash per sale
FCF Margin
7.5%
Modest free cash flow (7.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.04
Conservative — low debt load (0.04)
Covers its interest
Interest Cover
31.12x
Comfortably covers interest (31.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
34.9x
Pricey — P/E 34.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+13.5
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (34.9 → 21.3)

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Dividends

Not applicable for this business.
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