# Knight-Swift Transportation Holdings Inc. Class A Common Stock (KNX) — Stock CV

Knight-Swift Transportation Holdings Inc. is a $10.5B industrial company. Revenue grew 4.1% over the last year, it keeps 1¢ of every dollar of sales as profit, and its net debt equals ~1.1 years of free cash flow. It trades at 244.4× earnings — in the most expensive third of its own history.

> Knight-Swift Transportation is the largest full-truckload carrier in the US, with a diversified transportation offering. Roughly 82% of revenue derives from Knight's asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) making up 63% and less than truckload 19%.

## Identity

- **Ticker**: KNX
- **Sector**: Industrials
- **Industry**: Trucking (No Local)
- **Headquarters**: PHOENIX, AZ
- **Employees**: 37 100
- **Website**: https://www.knight-swift.com
- **Market cap**: $10.5B
- **Last price**: $64.47
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $7.73B
- **Net income**: $42.9M
- **Free cash flow**: $545M
- **Net debt**: $600M
- **P/E**: 244.4
- **Revenue growth (YoY)**: 4.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 37 |
| Profitability | 21 |
| Health | 39 |
| Quality | 90 |
| Moat | 22 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +4.1% YoY
- [x] Profitable — $42.9M TTM
- [ ] Profit growing — -55.9% YoY
- [x] Generates cash — $545M TTM
- [x] Debt under control — ~1.1y of cash flow to repay
- [x] Established company — $10.5B market cap
- [x] Not printing shares — -4.7% shares over ~5y
- [x] Proven track record — 9/9 profitable years
- [x] Financially stable — Altman Z 1.9 — grey
- [x] Pays a dividend — yield 1.18%
- [ ] Valuation not extreme — P/E 244.4

## Experience (career milestones)

- **2023** — Knight-Swift acquired truckload carrier U.S
- **FY2022** — Became debt-free: cash now exceeds total debt
- **FY2022** — Best year on record: $771M net income
- **2022** — Further acquisitions have expanded Knight-Swift's footprint in LTL including its January 2022 acquisition of Midwest…
- **2021** — Knight-Swift expanded from its core truckload market into less than truckload (LTL) freight in July 2021 when it…
- **2017** — Knight Transportation merged with Swift Transportation and Knight-Swift Transportation Holdings Inc
- **FY2016** — Profitable every year on record: 9 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $4.03B in first reported year
- **1990** — Knight Transportation was founded in 1990 by four cousins: brothers Randy and Gary Knight

## Strengths

- High gross margin (65.1%)

## Watch-outs

- Thin interest coverage (1.6×)

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $6.00B | $743M | $655M |
| FY2022 | $7.43B | $771M | $635M |
| FY2023 | $7.14B | $217M | $89.2M |
| FY2024 | $7.41B | $118M | -$20.5M |
| FY2025 | $7.47B | $65.9M | $460M |

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Source: https://stockcv.com/KNX — derived from company filings; may be delayed or incomplete. Information, not investment advice.