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Asset-light trucking company that arranges freight transport using a network of independent owner-operator agents rather than owning trucks.
Asset-light trucking company that arranges freight transport using a network of independent owner-operator agents rather than owning trucks.
Its independent sales agents bring in freight from shippers, and Landstar keeps the difference between what the customer pays and what it pays the agent and the independent truckers who haul the load. With no trucks of its own, costs stay variable and capital needs low.
Moat: narrow (network effects, distribution). A large network of independent agents/owner-operators gives capacity flexibility without owning a fleet.
Headquarters: Jacksonville, Florida, USA · Founded: 1968 · Employees: 1,378
Size Landstar System (LSTR) is a United States Industrials company (Trucking) with a market value of $4.83B, the 1206th largest of 3,117 United States companies the cockpit tracks. Shares closed at $143.34 on 6 Nov 2026.
Performance Over six months the shares fell 21.8%, against -8.8% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 12 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +7.4%); the operating margin is 3.9% (peer median 5.5%).
Valuation It trades at 19.8× forward earnings against a peer median of 16.9× (4th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 16.6 points above its cost of capital (9.2% WACC).
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.29B | $4.74B | $4.82B | $5.30B | $7.44B |
| Revenue growth | — | -2% | -9% | -29% | — |
| Gross profit | $708M | $622M | $625M | $714M | $960M |
| EBITDA | $247M | $216M | $291M | $392M | $625M |
| Net income | $160M | $115M | $196M | $264M | $431M |
| Free cash flow | $157M | $215M | $256M | $368M | $596M |
| Capital expenditure | $13.8M | $9.88M | $31.0M | $25.7M | $26.0M |
| Total debt | $152M | $134M | $164M | $134M | $198M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Landstar System LSTR | $4.83B | -22% | +11% | 4% | 19.8× | 12.0% |
| J.B. Hunt JBHT | $20.3B | -11% | +11% | 7% | 24.3× | 16.8% |
| Knight-Swift Transportation KNX | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% |
| C.H. Robinson CHRW | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LSTR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.4% | -6.5% | 4th lowest of 13 |
| 6-month return | -21.8% | -8.8% | 4th lowest of 12 |
| Distance from 52-week high | -37.3% | -31.2% | 6th lowest of 13 |
| Revenue growth (TTM) | +10.7% | +7.4% | 4th highest of 13 |
| Operating margin | 3.9% | 5.5% | 5th lowest of 13 |
| Forward P/E | 19.8× | 16.9× | 4th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 12.0% | 11.8% | 6th least demanding of 11 |
| Growth delivered (Del g) | +2.8% | +10.0% | lowest of 11 |
| Hurdle (Req g minus delivered) | +9.2 pp | +0.4 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | +16.6 pp | -1.5 pp | highest of 13 |
| Net debt / EBITDA | -0.8× | 2.1× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Landstar System LSTR | United States | $4.83B | -22% | +11% | 4% | 19.8× | 12.0% | +2.8% |
| Schneider National SNDR | United States | $4.88B | -10% | +6% | 3% | 18.7× | 19.5% | +4.5% |
| Fujian Highton Development 603162.SS | China | $3.60B | +3% | +72% | 17% | 11.4× | 3.8% | +45.6% |
| NIKKON 9072.T | Japan | $3.25B | -19% | +7% | 9% | 26.9× | 12.0% | +8.1% |
| TFI International TFII.TO | Canada | $7.86B | -29% | +3% | 7% | 14.2× | 11.6% | +16.8% |
| ArcBest ARCB | United States | $2.86B | +6% | +8% | 3% | 13.6× | 16.5% | +6.4% |
| Saia SAIA | United States | $8.86B | -26% | +9% | 11% | 24.0× | 27.4% | +12.2% |
| Seino 9076.T | Japan | $2.48B | +9% | +7% | 5% | 14.5× | -3.2% | +6.5% |
| Knight-Swift Transportation KNX | United States | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% | +9.8% |
| Mullen MTL.TO | Canada | $1.98B | +36% | +12% | 9% | 18.2× | 6.5% | +12.9% |
| STEF STF.PA | France | $1.79B | +12% | +8% | 4% | 11.0× | 7.1% | +10.2% |
| Werner Enterprises WERN | United States | $1.62B | -26% | +15% | 2% | 18.8× | n/a | n/a |
| FedEx Freight FDXF | United States | $18.5B | n/a | -1% | 6% | 24.7× | n/a | n/a |