Top 12 Trucking Stocks, Ranked by Marvin Scores
Marvin's rules picked these 12 trucking stocks and ranked them by Overall score within the Trucking industry. Schneider National leads, followed by Old Dominion Freight Line and RXO.
Trucking companies move goods by road. Some run full truckloads, some run less-than-truckload networks that combine many small shipments, and some arrange freight for others. This list covers 12 trucking stocks that Marvin's rules selected and ranked.
Trucking is a low-margin business, so operating margin, free cash flow margin and debt matter a lot when comparing companies. A few figures can look weak even for a company with a high score, and the blurbs below point those out.
Each score describes how a company compares with other trucking companies today. It is not a prediction, and it is not a recommendation to buy or sell anything.
The list
How Marvin ranked these stocks
Marvin included companies above a minimum size threshold and ranked them by Overall score, highest first, within the Trucking industry. Scores run from 0 to 100 and are relative to each company's own industry. A high score means a company looks strong next to other trucking companies, not next to every stock in the market. Where a figure is missing for a company, it is left out of that company's description.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Trucking industry, highest Overall score first.
The stocks, one by one
Schneider National, Inc. SNDR
Schneider National has the top Overall score in the group at 92. Revenue grew 7.3% last fiscal year, and debt is light at 0.13 debt-to-equity. The caution is thin profitability: operating margin is 3.0% and return on equity is 3.6%.
Old Dominion Freight Line, Inc. ODFL
Old Dominion Freight Line has a Quality score of 94, backed by an operating margin of 25.8%, a free cash flow margin of 19.9% and almost no debt at 0.00. The caution is that revenue growth was -5.5%, a decline.
RXO, Inc. RXO
RXO has the strongest growth in the group, with revenue growth of 26.2%, and an Opportunity score of 93. The caution is profitability: operating margin is -1.2% and return on equity is -7.0%, so it is losing money on those measures.
Saia, Inc. SAIA
Saia shows solid profitability, with an operating margin of 11.0%, a free cash flow margin of 7.5% and low debt at 0.10. The caution is that revenue growth was nearly flat at 0.8%, and its Opportunity score is only 39.
Knight-Swift Transportation Holdings Inc. KNX
Knight-Swift Transportation has an Overall score of 65 and moderate debt at 0.36. Revenue growth was 0.8%. The caution is weak profitability: operating margin is 2.4% and return on equity is 0.5%. Free cash flow margin is not available.
XPO Logistics, Inc. XPO
XPO Logistics has a return on equity of 20.6% and an operating margin of 8.8%, both solid for trucking. The caution is its debt-to-equity ratio of 1.95, the highest among the better-scoring names, and growth was only 1.1%. Free cash flow margin is unavailable.
ArcBest Corp ARCB
ArcBest has a free cash flow margin of 4.4%, but its operating margin is only 0.7%. The caution is that revenue growth was -4.0%, a decline, and its Opportunity score is low at 19.
Werner Enterprises, Inc. WERN
Werner Enterprises has an Opportunity score of 72, but its Quality score is only 31. Free cash flow margin is slightly positive at 1.6%. The caution is that operating margin is -0.9% and return on equity is -3.4%, both negative.
Covenant Logistics Group, Inc. CVLG
Covenant Logistics Group grew revenue 2.9% last fiscal year, and its Overall score is 32. The caution is cash generation: free cash flow margin is -3.1% and operating margin is -0.1%, both negative, while debt-to-equity is 0.79.
Marten Transport, Ltd. MRTN
Marten Transport has a middling Quality score of 52 and a small positive operating margin of 1.8%. The caution is that revenue growth was -8.3%, a decline, and its Opportunity score is 12. Debt and free cash flow figures are not available.
Heartland Express, Inc. HTLD
Heartland Express has an Opportunity score of 65, but its Quality score is just 11. Debt is modest at 0.19. The caution is that revenue growth was -23.1% and free cash flow margin was -11.6%. Return on equity is not available.
Universal Logistics Holdings, Inc. ULH
Universal Logistics Holdings has the lowest Overall score here at 5. Revenue growth was -15.6%, operating margin was -3.3% and return on equity was -16.3%. Debt-to-equity of 1.49 adds to the caution, though free cash flow margin was positive at 2.4%.
Common questions
What does operating margin tell me about a trucking company?
Operating margin shows how much of each dollar of revenue is left after the costs of running the business, such as drivers, fuel and equipment. Trucking margins are often thin, so even small differences can matter when comparing companies.
Why can a company have a high Overall score but weak margins?
Marvin's scores compare a company with others in the same industry. In a low-margin industry like trucking, a company can score well by being stronger than its peers even if its margins look modest in absolute terms. Check the individual figures as well as the score.
Do trucking stocks depend on the economy?
Generally, yes. Trucking demand tends to follow how much freight businesses and consumers are shipping, so results can move with the broader economy. Fuel costs, driver availability and competition also affect trucking companies.
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.