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Refrigerated and dry-van truckload carrier moving temperature-sensitive freight, with dedicated and brokerage units too.
Refrigerated and dry-van truckload carrier moving temperature-sensitive freight, with dedicated and brokerage units too.
Is paid per mile or per load, with a fuel surcharge added when diesel rises, and handles some freight under contracts while the rest moves at spot rates, so results depend on the balance between truck capacity and freight demand. It has stayed mostly asset-based, owning its tractors and trailers.
Moat: none (scale). Refrigerated trucking is a competitive, cyclical commodity service despite Marten's newer, efficient fleet.
Headquarters: Mondovi, Wisconsin · Founded: 1946 · Employees: 3,502
Size Marten Transport (MRTN) is a United States Industrials company (Trucking) with a market value of $959M, the 2276th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.74 on 6 Nov 2026.
Performance Over six months the shares fell 24.6%, against -1.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 4.8% over the last twelve months (peer median +3.5%); the operating margin is 0.8% (peer median 5.1%).
Valuation It trades at 27.1× forward earnings against a peer median of 15.2× (4th most expensive of 16).
Capital Return on invested capital runs 9.2 points below its cost of capital (10.0% WACC).
Short interest Short interest is 4.0% of the free float (15 Oct 2026).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $860M | $884M | $964M | $1.13B | $1.26B |
| Revenue growth | — | -8% | -15% | -10% | — |
| Gross profit | $43.1M | $50.5M | $67.3M | $122M | $177M |
| EBITDA | $106M | $116M | $140M | $193M | $241M |
| Net income | $13.3M | $17.4M | $26.9M | $70.4M | $110M |
| Free cash flow | n/a | -$51.1M | -$98.4M | -$76.2M | $42.9M |
| Capital expenditure | n/a | $145M | $233M | $241M | $177M |
| Total debt | $82,000 | $453,000 | $578,000 | $517,000 | $710,000 |
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 |
|---|---|---|---|---|---|---|
| Marten Transport MRTN | $959M | -25% | -5% | 1% | 27.1× | n/a |
| Knight-Swift Transportation KNX | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% |
| Werner Enterprises WERN | $1.62B | -26% | +15% | 2% | 18.8× | n/a |
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 | MRTN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | -1.3% | 8th lowest of 21 |
| 6-month return | -24.6% | -1.5% | 4th lowest of 21 |
| Distance from 52-week high | -36.5% | -26.6% | 9th lowest of 21 |
| Revenue growth (TTM) | -4.8% | +3.5% | 7th lowest of 21 |
| Operating margin | 0.8% | 5.1% | 4th lowest of 21 |
| Forward P/E | 27.1× | 15.2× | 4th most expensive of 16 |
| ROIC minus cost of capital | -9.2 pp | -0.9 pp | 3rd lowest of 21 |
| EV / EBITDA | 8.1× | 9.0× | 7th cheapest of 15 |
| Net debt / EBITDA | -0.9× | 2.2× | 3rd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Marten Transport MRTN | United States | $959M | -25% | -5% | 1% | 27.1× | n/a | n/a |
| Logwin TGHN.DE | Germany | $942M | +5% | -6% | 5% | 15.2× | -16.0% | +3.9% |
| Maruzen Showa Unyu 9068.T | Japan | $922M | -15% | +3% | 10% | 10.5× | -7.4% | +4.2% |
| NTG Nordic Transport Group A/S NTG.CO | Denmark | $1.09B | +71% | +16% | 5% | 20.6× | -0.4% | +16.4% |
| Shanghai Juss Sports and Entertainment 600676.SS | China | $802M | -36% | -14% | -15% | n/a | 5.1% | -11.0% |
| Covenant Logistics CVLG | United States | $801M | -5% | +12% | 1% | 12.3× | n/a | n/a |
| Sakai Moving Service 9039.T | Japan | $785M | +2% | +4% | 10% | 13.7× | -11.2% | +4.5% |
| Heartland Express HTLD | United States | $780M | -24% | -17% | -6% | 28.2× | n/a | n/a |
| Fulongma 603686.SS | China | $743M | -37% | +6% | 6% | 27.8× | 2.4% | -2.0% |
| Shibusawa Logistics 9304.T | Japan | $723M | +48% | +2% | 5% | n/a | 16.9% | +4.1% |
| Universal Logistics ULH | United States | $715M | +108% | -7% | 4% | 13.9× | n/a | n/a |
| Shanghai Jin Jiang Online Network Service 600650.SS | China | $705M | -14% | -19% | -2% | n/a | 5.6% | -10.8% |
| Transport Corporation of India TCI.NS | India | $700M | -12% | +12% | 8% | 14.2× | 14.9% | +11.9% |
| Shengyuan Environmental Protection 300867.SZ | China | $638M | -24% | +3% | 28% | 11.8× | -4.1% | +8.5% |
| VRL Logistics VRLLOG.NS | India | $624M | +27% | +11% | 14% | 16.1× | 6.2% | +12.8% |
| San Yang Ma (Chongqing) Logistics 001317.SZ | China | $606M | -11% | -51% | 4% | n/a | 35.8% | +7.1% |
| Werner Enterprises WERN | United States | $1.62B | -26% | +15% | 2% | 18.8× | n/a | n/a |
| Forward Air FWRD | United States | $562M | +69% | 0% | 3% | 153.6× | 17.1% | +14.5% |
| STEF STF.PA | France | $1.79B | +12% | +8% | 4% | 11.0× | 7.1% | +10.2% |
| Yongtaiyun Chemical Logistics 001228.SZ | China | $481M | +7% | +31% | 5% | n/a | n/a | n/a |
| Mullen MTL.TO | Canada | $1.98B | +36% | +12% | 9% | 18.2× | 6.5% | +12.9% |