olivLaw · US equity research
Knight-Swift Transportation Holdings Inc. KNX
Trucking (No Local) · SIC 4213 · Vertical: Trucking (No Local) (SIC 4213)
Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight carriers, operating Truckload, LTL, Logistics and Intermodal segments. Total revenue was 7.5 billion USD in fiscal 2025, and in the third quarter of 2026 revenue rose 14.2%, as the truckload market stayed under capacity pressure.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Knight-Swift Transportation Holdings Inc. (KNX) stock was 62.36 USD (−0.72% on the day), with market capitalisation 10.2 bn USD, P/E 67.2 on diluted EPS of 0.93 USD over the last 12 months, dividend yield 1.25%, beta 1.11, 52-week range 41.68–82.45 USD. Latest reported quarter (Q3 2026): revenue of 2.2 bn USD (+14.2% YoY), net income of 118.3 m USD (+1,404.5% YoY), diluted EPS 0.72 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 46.0
- neutral
- Bollinger (20, 2)
- 59.94 – 65.74
- in the lower half of the band · %B 0.42 · band width 9.2%
- SMA 50 / 200
- 65.33 / 66.09
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.06 / -1.21
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.4% | −1.1% | −3.3 pp | — |
| 3 months | −11.9% | −0.5% | −11.5 pp | — |
| 6 months | −3.0% | +4.4% | −7.4 pp | — |
| Year to date | +19.3% | +12.3% | +7.0 pp | — |
| 1 year | +39.2% | +13.5% | +25.7 pp | +32.2% |
| 3 years | +22.6% | +76.4% | −53.8 pp | −7.6% |
| 5 years | +8.2% | +63.7% | −55.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 1.8 bn | 1.9 bn | 1.9 bn | 1.9 bn | 1.9 bn | 2.1 bn | 2.2 bn |
| Operating income | 78.0 m | 66.7 m | 72.6 m | 50.3 m | 26.5 m | 28.6 m | 104.9 m | 178.7 m |
| Depreciation & amortisation | 197.5 m | 196.7 m | 195.8 m ≈ | 198.3 m ≈ | 197.3 m | 195.7 m | 197.0 m ≈ | 198.7 m ≈ |
| Interest expense | 45.0 m | 40.2 m | 40.9 m | 40.9 m | 39.8 m | 30.7 m | 23.3 m | 18.2 m |
| Pre-tax income | 79.8 m | 40.5 m | 47.9 m | 15.7 m | -8.9 m | -1.5 m | 65.5 m | 162.5 m |
| Income tax | 10.7 m | 10.3 m | 14.0 m | 7.4 m | -1.9 m | -107.0 k | 22.4 m | 44.5 m |
| Net income | 69.5 m | 30.6 m | 34.2 m | 7.9 m | -6.8 m | -1.3 m | 43.2 m | 118.3 m |
| Diluted EPS | 0.43 ≈ | 0.19 | 0.21 | 0.05 | -0.04 ≈ | -0.01 | 0.26 | 0.72 |
| Operating cash flow | 274.3 m | 109.4 m | 216.5 m ≈ | 217.5 m ≈ | 723.2 m | 142.5 m | 307.8 m ≈ | 349.5 m ≈ |
| Dividends paid | 25.9 m | 29.3 m | 29.7 m ≈ | 29.2 m ≈ | 29.2 m | 32.7 m | 33.1 m ≈ | 32.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 80 percentile of its own 40-quarter history (min 8.6, median 19.8, max 301.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.3 bn | 4.8 bn | 4.7 bn | 6.0 bn | 7.4 bn | 7.1 bn | 7.4 bn | 7.5 bn |
| Revenue YoY | +120.3% | −9.4% | −3.5% | +28.3% | +23.9% | −3.9% | +3.8% | +0.8% |
| Net income | 419.3 m | 309.2 m | 410.0 m | 743.4 m | 771.3 m | 217.1 m | 117.6 m | 65.9 m |
| Net income YoY | −13.4% | −26.3% | +32.6% | +81.3% | +3.8% | −71.8% | −45.8% | −43.9% |
| Diluted EPS | 2.36 | 1.80 | 2.40 | 4.45 | 4.73 | 1.34 | 0.73 | 0.41 |
| Diluted EPS YoY | −45.6% | −23.7% | +33.3% | +85.4% | +6.3% | −71.7% | −45.5% | −43.8% |
| net % | 7.8% | 6.4% | 8.8% | 12.4% | 10.4% | 3.0% | 1.6% | 0.9% |
| Free cash flow | 126.0 m | 9.6 m | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 220.4 m USD
- Financial debt
- 1.9 bn USD
- Net debt
- 1.7 bn USD
- Equity
- 7.1 bn USD
- Total assets
- 12.0 bn USD
- Debt / equity
- 0.27x
- Current ratio
- 0.86x
- ROE
- 0.9%
- ROA
- 0.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.7 bn | 6.0 bn | 7.4 bn | 7.1 bn | 7.4 bn | 7.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 564.4 m | 965.7 m | 1.1 bn | 338.2 m | 243.4 m | 216.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Depreciation & amortisation | 506.7 m | 577.9 m | 659.8 m | 735.1 m | 792.8 m | 788.1 m | SEC (XBRL)· 19 Feb 2026verified |
| EBITDA | 1.1 bn ≈ | 1.5 bn ≈ | 1.8 bn ≈ | 1.1 bn ≈ | 1.0 bn ≈ | 1.0 bn ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Interest expense | 17.3 m | 21.1 m | 50.8 m | 127.1 m | 171.2 m | 161.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Pre-tax income | 560.3 m | 974.6 m | 1.0 bn | 270.3 m | 149.0 m | 95.3 m | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 149.7 m | 230.9 m | 249.4 m | 54.8 m | 33.0 m | 29.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 410.0 m | 743.4 m | 771.3 m | 217.1 m | 117.6 m | 65.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 2.40 | 4.45 | 4.73 | 1.34 | 0.73 | 0.41 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 170.5 m | 167.1 m | 163.2 m | 161.8 m | 162.2 m | 162.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividend per share | 0.32 | 0.38 | 0.48 | 0.56 | 0.64 | 0.72 | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 156.7 m | 261.0 m | 196.8 m | 168.5 m | 218.3 m | 220.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | 578.5 m | 911.3 m | 842.3 m | 888.6 m | 803.7 m | 305.3 m | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 923.4 m | 1.4 bn | 1.5 bn | 1.7 bn | 1.4 bn | 887.5 m | SEC (XBRL)· 19 Feb 2026verified |
| Property, plant & equipment, net | 3.0 bn | 3.6 bn | 3.8 bn | 4.6 bn | 4.7 bn | 4.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 2.9 bn | 3.5 bn | 3.5 bn | 3.8 bn | 4.0 bn | 3.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.4 bn | 1.8 bn | 1.8 bn | 2.1 bn | 2.1 bn | 1.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 8.5 bn | 10.7 bn | 11.0 bn | 12.9 bn | 12.7 bn | 12.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 101.0 m | 224.8 m | 220.8 m | 355.2 m | 329.7 m | 200.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Short-term debt | 52.6 m | 262.4 m | 71.5 m | 459.8 m | 288.4 m | 194.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Long-term debt | 508.9 m | 1.5 bn | 1.1 bn | 1.6 bn | 1.8 bn | 1.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 839.7 m | 1.1 bn | 894.0 m | 1.8 bn | 1.7 bn | 1.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 2.6 bn | 4.1 bn | 4.0 bn | 5.8 bn | 5.6 bn | 4.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 5.9 bn | 6.5 bn | 7.0 bn | 7.1 bn | 7.1 bn | 7.1 bn | SEC (XBRL)· 19 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 919.6 m | 1.2 bn | 1.4 bn | 1.2 bn | 799.1 m | 1.3 bn | SEC (XBRL)· 19 Feb 2026verified |
| Investing cash flow | -480.7 m | -1.8 bn | -646.2 m | -1.2 bn | -759.1 m | -520.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -443.9 m | 779.3 m | -754.3 m | 150.7 m | -139.4 m | -807.7 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividends paid | 54.6 m | 63.5 m | 78.3 m | 91.1 m | 104.2 m | 117.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Share repurchases | 179.6 m | 57.2 m | 299.9 m | 0 | 0 | — | SEC (XBRL)· 20 Feb 2025verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 38 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 10.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet34
- Growth1
- Quality59
- Returns18
- Valuation60
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 9.46 – 112.95 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA93.92 – 112.95 (Mid 103.77)5 companies used · median multiple 15.1x · quartiles 13.7x – 16.4xARCB, JBHT, ODFL, SAIA, ULH
- Peers: P/E29.75 – 31.82 (Mid 29.93)5 companies used · median multiple 32.2x · quartiles 32.0x – 34.3xJBHT, LSTR, ODFL, SAIA, SNDR
- Dividend discount (DDM)9.46 – 12.72 (Mid 10.85)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 38/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 2.9% | 60 (vs peers) | 13% |
| Net margin · Quality | 1.9% | 58 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 0.2% | 2 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | -55.7% | 0 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 0.1x | 50 (vs peers) | 13% |
| Interest coverage · Balance sheet | 3.0x | 23 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 0.9x | 9 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 67.2x | 38 (vs peers) | 13% |
| EV/EBITDA · Valuation | 9.1x | 83 (vs peers) | 13% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.3% | 18 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet34/100 · 3/3 factors with a value
- Growth1/100 · 2/2 factors with a value
- Quality59/100 · 2/3 factors with a value
- Returns· partial18/100 · 1/2 factors with a value
- Valuation60/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Knight-Swift Transportation Holdings Inc. (KNX). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 7.5 bn USD in 2025; YoY growth 0.8%; net margin 1.9%; ROE 2.2%; net debt/EBITDA 0.1x.
The estimated value range is 29.75–31.82 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 29.93 USD, the price of 62.36 USD leaves a potential of -52.0% (value / price − 1) and a margin of safety of -108.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 38/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/EBITDA: 9.1x
What contradicts it
- Revenue CAGR 3Y: 0.2%
- EPS CAGR 3Y: -55.7%
- Interest coverage: 3.0x
- Current ratio: 0.9x
- Shareholder yield (distributions): 1.3%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, FCF yield, Payout ratio (FCF).
Versus the vertical median
Trucking (No Local) (SIC 4213) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ODFLOld Dominion Freight Line, Inc. | 37.0 bn | 32.2 | 26.0% | 20.1% | −5.5% | +33% / −8% |
| JBHTJ.b. Hunt Transport Services, Inc. | 21.2 bn | 31.9 | 18.8% | 5.1% | −0.7% | +31% / +23% |
| KNXKnight-Swift Transportation Holdings Inc. | 10.2 bn | 67.2 | 2.2% | 1.9% | +0.8% | +39% / +23% |
| SAIASaia, Inc. | 9.7 bn | 34.3 | 10.6% | 8.0% | +0.8% | +28% / −7% |
| LSTRLandstar System, Inc. | 5.1 bn | 32.0 | 18.7% | 3.0% | −1.6% | +16% / −12% |
| ARCBArcbest Corporation | 3.1 bn | 109.6 | 2.2% | 0.7% | −4.0% | +117% / +17% |
| WERNWerner Enterprises, Inc. | 1.8 bn | — | -3.3% | -1.4% | −1.8% | +15% / −27% |
| MRTNMarten Transport, Ltd. | 1.0 bn | 74.8 | 1.6% | 1.5% | −8.3% | +21% / −34% |
| ULHUniversal Logistics Holdings, Inc. | 862.8 m | — | -15.1% | -6.0% | −15.6% | +118% / +32% |
| HTLDHeartland Express Inc | 829.0 m | — | -2.8% | -3.0% | −23.1% | +36% / −20% |
| PAMTPamt Corp | 259.3 m | — | -18.9% | -7.1% | −16.3% | +38% / −34% |
| SNDRSchneider National, Inc. | — | 37.0 | 4.6% | 2.4% | +7.3% | +32% / +29% |
| CVLGCovenant Logistics Group, Inc. | — | 237.7 | 0.9% | 0.3% | +2.9% | +70% / +59% |
1- and 3-year price returns: for KNX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 35.78 Total return -42% · Per year -42% | 63.40 Total return 3% · Per year 3% | 95.69 Total return 55% · Per year 55% |
| 3 years | 31.78 Total return -46% · Per year -19% | 63.64 Total return 6% · Per year 2% | 105.87 Total return 75% · Per year 20% |
| 5 years | 28.23 Total return -50% · Per year -13% | 63.87 Total return 9% · Per year 2% | 117.13 Total return 96% · Per year 14% |
- Exit P/E± 15.91
- Net margin± 11.14
- Annual revenue growth± 9.54
- Annual dilution± 0.94
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
In brief
Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight carriers, operating Truckload, LTL, Logistics and Intermodal segments. Total revenue was 7.5 billion USD in fiscal 2025 1, and in the third quarter of 2026 revenue rose 14.2% 3, as the truckload market stayed under capacity pressure.
SWOT
Strengths
Weaknesses
- Annual results are sensitive to fuel, equipment and claims costs, and price recovery through rates is not complete 1.
- The LTL segment recorded impairments and network expansion costs that reduced margins in some periods 12.
- Reliance on a few large customers could hurt revenue if they reduce volumes 1.
Opportunities
Risks
- Industry cyclicalityhigh
The trucking industry is highly cyclical, and falling demand or prices can weigh on results 1.
- Fuel costshigh
Sharp diesel price increases or reduced availability can affect results, especially if costs cannot be passed on to customers 1.
- LTL network expansionmedium
Expansion can bring added costs and disruption, and new terminals are not assured to be profitable 1.
- Claims and insurancemedium
Large accident verdicts can raise insurance costs, and adverse claims development has affected quarterly results 12.
- Acquisitions and integrationlow
Integrating acquired businesses can be difficult and may bring unexpected costs or customer losses 1.
Investment thesis
What would need to be true (bull case)
- If the market stays tight and contract rates keep rising, margins could return toward the company's stated objectives 3.
- A leading position in Truckload, with a large fleet and regional network, can support market share and customer service 1.
- Diversification into LTL, logistics and intermodal can reduce dependence on any single segment 13.
What would break the thesis
- If demand falls or capacity returns quickly, rates could weaken and margins could fall back to earlier levels 1.
- Costs of equipment, fuel and insurance could keep rising faster than rates 1.
- Quarterly results have been shaped by one-off costs and impairments, which makes profitability harder to forecast 23.
What to watch
- Evolution of Truckload contract rates and fleet utilizationQ4 2026
- LTL segment margins after claims development and network expansionQ4 2026
- Effect of the new receivables securitization program on cash flow2027
- Company guidance on rate growth and margins for 20272027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
The business
Knight-Swift operates through a nationwide network of business units and terminals in the US and Mexico, combining full truckload, LTL for partial shipments, third-party logistics and rail-based intermodal services 1. The company has grown organically and through acquisitions, including U.S. Xpress and the LTL brands ACT, MME and DHE 1. Its stated objective is industry-leading margins combined with organic and acquisition-led growth 1.
The model relies on route density, service quality for customers and a modern fleet with efficient operations 1. Through third-party carriers and its intermodal network, the company offers customers a single source for their transportation needs 1.
In 2025, results were affected by non-cash impairments tied to brand consolidation and by costs of expanding the LTL network, while in 2026 claims development and the new receivables securitization program weighed on results 23. The company ended 2025 with 1.1 billion USD of cash and available liquidity 1.
Segments
Market context
The US truckload freight market is large, fragmented and highly competitive, with pricing and capacity driven by supply and demand 1. According to the filing, the freight market entered a prolonged downcycle in 2023 and showed gradual stabilization in 2024 and 2025 1. In 2026 the company reported rising contract rates and continued capacity pressure, which could support margins if the trend holds 3.
The gap between spot and contract pricing and elevated load rejection rates point to a tighter market in the second half of 2026 3. The final effect depends on peak-season demand and on the evolution of fuel and labor costs 3.
Trends
- Driver shortage and shrinking capacitytailwind
The company and the industry face a shortage of drivers and the exit of smaller carriers, which limits available capacity 13. If this persists, contract rates could keep rising 3.
- Rising contract ratestailwind
Results reported in 2026 show a significant improvement in revenue per loaded mile in Truckload, and renewed pricing supports margins 3. Continuation depends on capacity discipline and seasonal demand 3.
- High equipment and fuel costsheadwind
Prices of new tractors and trailers have risen, and fuel price swings could affect results if they cannot be passed on through fuel surcharges 1. The company expected equipment prices to keep rising 1.
- Regulation and insurance costsmixed
Driver regulation, insurance and large accident verdicts raise industry costs, with a mixed effect: they can limit competition but also burden operators 1. In 2026 the company recorded adverse claims development in LTL 2.
Competitive position
Competition in the industry is intense and fragmented: the company faces thousands of truckload carriers, most with much smaller fleets, as well as national LTL carriers, non-asset logistics and brokerage firms and railroads for intermodal 1. The main competitive factors are customer service, capacity and price 1.
The company argues that its scale, regional network and driver training capacity differentiate it, allowing it to avoid competing on price alone 13. Competition from customers' private fleets and brokers remains a relevant risk 1.
- Small and mid-sized truckload carriers
The majority of competitors in full truckload, with fleets much smaller than the company's, according to the source 1.
- National LTL carriers
LTL operators with nationwide networks that compete with the company's LTL segment, according to the source 1.
- Logistics companies and freight brokers
Non-asset logistics and brokerage providers that can affect customer relationships and freight rates, according to the source 1.
- Railroads and intermodal operators
Indirect competition for long-haul freight, where the company uses rail partnerships, according to the source 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- How Montgomery v. Caribe Supercharges Knight-Swift’s (KNX) Scale AdvantageYahoo Finance — News · 21 Sept 2026 · EN
- Knight-Swift Transportation (KNX) is Positioned to Leverage Evolving Freight MarketYahoo Finance — News · 31 Aug 2026 · EN
The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report28 Oct 2026
- Current report21 Oct 2026Results of operations · Financial statements and exhibits
- Current report06 Aug 2026Other events · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report22 Jul 2026Results of operations · Financial statements and exhibits
- Current report04 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report13 May 2026Shareholder vote · Other events · Financial statements and exhibits
- Current report08 May 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Other events · Financial statements and exhibits
- Quarterly report29 Apr 2026
- Current report22 Apr 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Knight-Swift Transportation Holdings Inc. · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Knight-Swift Transportation Holdings Inc. · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Knight-Swift Transportation Holdings Inc. · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.