J.B. Hunt Transport Services, Inc.

JBHT · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$18,505	$17,208	$20,602	$18,053	$21,465	$14,350	$12,264	$9,770	$12,074	$10,194	$7,704	$9,821	$9,063	$7,018	$5,270	$4,958	$4,082	$3,289	$3,701	$3,086	$3,568	$3,599	$2,160	$1,117	$830	$595	$491	$818	$690	$531	$615	$586	$888	$835	$694	$412	$481	$538	$385	$606	$318
Enterprise value	$20,376	$18,950	$22,477	$19,572	$22,593	$15,478	$13,649	$10,912	$13,146	$11,174	$8,696	$10,749	$9,765	$7,697	$6,014	$5,605	$4,639	$3,920	$4,599	$3,475	$3,684	$3,575	$2,271	$1,407	$1,342	$1,085	$806	$1,242	$1,026	$909	$980	$951	$1,191	$1,049	$849	$541	$584	$603	$456	$646	$342
P/E (TTM) at period end	30.93×	30.14×	28.29×	18.62×	28.21×	28.36×	23.75×	19.96×	17.59×	23.59×	18.03×	26.21×	26.47×	22.61×	20.51×	24.84×	29.92×	16.40×	17.36×	14.03×	17.21×	24.65×	22.50×	21.56×	25.22×	16.47×	15.38×	17.48×	60.52×	24.00×	–	14.51×	23.24×	21.52×	23.53×	13.74×	15.72×	16.30×	17.21×	24.51×	19.49×
P/S (TTM) at period end	1.54×	1.42×	1.61×	1.22×	1.76×	1.49×	1.34×	1.13×	1.68×	1.55×	1.25×	1.59×	1.62×	1.39×	1.16×	1.31×	1.27×	0.88×	1.06×	0.93×	1.14×	1.29×	0.89×	0.50×	0.40×	0.28×	0.24×	0.44×	0.44×	0.36×	0.45×	0.49×	0.87×	0.92×	0.95×	0.71×	0.94×	1.37×	1.35×	2.97×	2.42×
P/B at period end	5.19×	4.29×	5.02×	4.92×	6.88×	5.52×	5.41×	4.65×	6.56×	7.21×	5.92×	8.15×	8.95×	8.86×	9.29×	8.65×	6.34×	6.22×	10.78×	4.06×	4.37×	4.18×	3.07×	1.89×	1.81×	1.39×	1.22×	2.18×	2.04×	1.49×	1.72×	1.55×	2.58×	2.71×	3.22×	2.16×	2.74×	3.58×	3.18×	6.12×	4.14×
EV / EBITDA (TTM)	12.90×	11.90×	12.98×	9.90×	14.10×	12.48×	11.07×	9.77×	13.05×	10.32×	8.24×	11.61×	11.76×	10.14×	9.14×	10.29×	10.62×	6.99×	8.01×	6.25×	7.27×	7.78×	6.75×	5.70×	6.24×	5.48×	3.59×	5.22×	5.91×	4.91×	6.46×	4.87×	22.38×	31.05×	24.96×	14.40×	11.90×	–	–	–	–
EV / Sales (TTM)	1.70×	1.57×	1.75×	1.32×	1.86×	1.61×	1.49×	1.27×	1.83×	1.70×	1.41×	1.74×	1.75×	1.52×	1.33×	1.48×	1.45×	1.05×	1.32×	1.04×	1.18×	1.28×	0.93×	0.63×	0.64×	0.50×	0.39×	0.67×	0.66×	0.61×	0.72×	0.79×	1.17×	1.15×	1.16×	0.93×	1.15×	1.53×	1.59×	3.17×	2.60×
Returns
Return on equity	16.8%	14.2%	17.7%	26.4%	24.4%	19.5%	22.8%	23.3%	37.3%	30.6%	32.9%	31.1%	33.8%	39.2%	45.3%	34.8%	21.2%	37.9%	62.1%	29.0%	25.4%	17.0%	13.7%	8.8%	7.2%	8.4%	7.9%	12.5%	3.4%	6.2%	(0.6%)	10.7%	11.1%	12.6%	13.7%	15.7%	17.4%	22.0%	18.5%	24.9%	21.2%
Return on invested capital	12.0%	10.9%	12.9%	19.4%	18.7%	14.5%	15.2%	16.0%	21.4%	18.7%	19.3%	18.4%	20.8%	22.2%	20.9%	17.8%	12.6%	19.2%	19.5%	20.1%	22.9%	17.9%	13.0%	7.9%	5.7%	5.9%	6.7%	8.0%	3.9%	5.1%	1.8%	7.1%	12.4%	14.7%	16.9%	17.7%	20.5%	25.0%	19.3%	32.4%	30.0%
Dividend yield	0.9%	1.0%	0.8%	0.9%	0.6%	0.8%	0.9%	1.1%	0.8%	1.0%	1.3%	1.0%	0.6%	1.2%	1.2%	1.2%	1.4%	1.5%	1.3%	1.5%	1.1%	0.2%	–	–	–	0.3%	1.5%	0.9%	1.1%	1.4%	1.3%	1.3%	0.9%	–	0.9%	1.4%	1.2%	–	–	–	–
Financial health
Current ratio	0.83×	1.06×	1.35×	1.41×	1.34×	1.70×	1.43×	1.11×	1.45×	1.54×	1.61×	1.12×	0.95×	1.10×	1.17×	0.91×	1.46×	0.97×	0.93×	0.98×	1.72×	1.51×	0.99×	1.33×	1.45×	1.02×	1.09×	1.09×	0.97×	1.03×	1.01×	1.02×	1.76×	1.76×	2.37×	1.86×	1.72×	1.56×	1.59×	1.46×	1.58×
Debt / equity	0.41×	0.37×	0.38×	0.34×	0.42×	0.50×	0.57×	0.55×	0.59×	0.70×	0.77×	0.78×	0.70×	0.87×	1.32×	1.14×	0.88×	1.20×	2.66×	0.52×	0.15×	–	0.24×	0.39×	0.86×	0.94×	0.82×	1.15×	1.01×	1.07×	1.03×	0.97×	0.89×	0.70×	0.73×	0.72×	0.60×	0.44×	0.59×	0.42×	0.33×
Effective tax rate	24.7%	24.8%	22.1%	24.4%	23.9%	24.0%	24.2%	23.6%	(15.3%)	37.9%	38.1%	38.0%	38.1%	38.5%	38.2%	37.6%	39.1%	37.7%	34.4%	37.9%	37.9%	51.6%	43.1%	30.8%	23.5%	15.0%	35.0%	37.0%	38.2%	38.0%	37.7%	38.0%	41.0%	36.4%	39.4%	39.5%	41.5%	38.0%	42.3%	43.6%	36.1%
Share count
Diluted shares outstanding	98	103	104	105	107	107	108	110	111	113	117	118	119	120	122	128	129	129	138	152	163	166	166	157	143	142	142	146	147	152	147	154	153	144	139	141	141	142	142	141	139

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$13,325	$11,999	$12,087	$12,830	$14,814	$12,168	$9,637	$9,165	$8,615	$7,190	$6,555	$6,188	$6,165	$5,585	$5,055	$4,527	$3,793	$3,203	$3,732	$3,490	$3,328	$3,128	$2,786	$2,433	$2,248	$2,100	$2,160	$2,045	$1,842	$1,554	$1,487	$1,352	$1,208	$1,021	$912	$733	$580	$509	$393	$286	$204	$132
Cost of revenue	($10,547)	($10,402)	($10,024)	($10,620)	($12,341)	($10,298)	($8,187)	($7,659)	($7,256)	($5,990)	($5,370)	($5,041)	($5,124)	($4,653)	($4,218)	($3,802)	($3,163)	($1,773)	($2,097)	($1,785)	($1,812)	($1,658)	($1,400)	($1,214)	($1,096)	($1,019)	($1,108)	($1,025)	($887)	($748)	($742)	($601)	($540)	($388)	($309)	($230)	($156)	($127)	($89)	($67)	($108)	($29)
Gross profit	$2,779	$1,597	$2,063	$2,210	$2,473	$1,870	$1,450	$1,506	$1,359	$1,199	$1,186	$1,146	$1,041	$931	$837	$725	$630	$1,431	$1,635	$1,705	$1,516	$1,470	$1,386	$1,220	$1,152	$1,081	$1,053	$1,020	$954	$807	$744	$751	$668	$633	$603	$504	$424	$383	$304	$220	$95	$103
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($264)	($282)	($306)	($275)	($215)	($196)	($180)	($192)	($163)	($126)	($87)	($73)	($1,362)	($1,203)	($1,082)	($1,049)	($966)	($864)	($920)	($958)	($105)	($101)	($116)	($122)	($110)	($86)	($92)	($97)	($78)	($608)	($105)	($556)	($65)	($442)	($422)	($353)	($292)	($254)	($192)	($137)	($12)	($53)
Total operating expenses	($1,818)	($732)	($1,232)	($1,217)	($1,141)	($824)	($737)	($772)	($678)	($576)	($465)	($430)	($410)	($355)	($307)	($280)	($283)	($1,183)	($1,276)	($1,336)	($1,143)	($1,126)	($1,076)	($1,034)	($1,051)	($1,009)	($989)	($946)	($853)	($764)	($684)	($730)	($583)	($496)	($483)	($400)	($330)	($285)	($217)	($156)	($15)	($56)
Total costs and expenses	($12,365)	($11,134)	($11,256)	($11,836)	($13,482)	($11,123)	($8,923)	($8,431)	($7,934)	($6,566)	($5,834)	($5,472)	($5,534)	($5,008)	($4,525)	($4,083)	($3,446)	($2,955)	($3,374)	($3,121)	($2,955)	($2,784)	($2,476)	($2,247)	($2,147)	($2,028)	($2,097)	($1,971)	($1,740)	($1,511)	($1,426)	($1,331)	($1,123)	($884)	($791)	($630)	($486)	($412)	($306)	($222)	($124)	($84)
Operating income	$960	$865	$831	$993	$1,332	$1,046	$713	$734	$681	$624	$721	$716	$632	$577	$530	$444	$348	$248	$358	$369	$373	$344	$310	$186	$101	$72	$63	$74	$102	$43	$60	$21	$85	$136	$121	$103	$94	$98	$86	$64	$80	$47
Earnings
EBITDA	–	$1,580	$1,592	$1,731	$1,976	$1,603	$1,240	$1,233	$1,117	$1,007	$1,083	$1,055	$926	$830	$759	$658	$545	$437	$561	$574	$556	$507	$460	$336	$247	$215	$198	$224	$238	$174	$185	$152	$196	$53	$34	$34	$38	$49	–	–	–	–
Interest income	–	$4	$7	$8	$1	$0	$0	$2	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1	$1	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($68)	($75)	($79)	($66)	($51)	($46)	($48)	($55)	($40)	($29)	($25)	($26)	($27)	($23)	($26)	($29)	($28)	($27)	($35)	($44)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$896	$794	$760	$935	$1,281	$1,000	$666	$681	$641	$595	$696	$690	$605	$554	$505	$416	$320	$224	$322	$325	$354	$334	$302	$168	$75	$43	$42	$49	$74	$18	$36	($3)	$65	$65	$58	$49	$50	$52	$53	$39	$44	$26
Income tax expense	($220)	($196)	($189)	($207)	($312)	($239)	($160)	($165)	($151)	$91	($264)	($263)	($230)	($211)	($194)	($159)	($120)	($88)	($122)	($112)	($134)	($126)	($156)	($72)	($23)	($10)	($6)	($17)	($28)	($7)	($14)	$1	($25)	($27)	($21)	($19)	($20)	($22)	($20)	($16)	($19)	($9)
Net income	$676	$598	$571	$728	$969	$761	$506	$516	$490	$686	$432	$427	$375	$342	$310	$257	$200	$136	$201	$213	$220	$207	$146	$96	$52	$33	$36	$32	$47	$11	$22	($2)	$40	$38	$39	$30	$30	$31	$33	$22	$25	$16
Per share
Diluted EPS (GAAP)	$7.12	$6.12	$5.56	$6.97	$9.21	$7.14	$4.74	$4.77	$4.43	$6.18	$3.81	$3.66	$3.16	$2.87	$2.59	$2.11	$1.56	$1.05	$1.56	$1.55	$1.44	$1.28	$0.88	$0.58	$0.33	$0.23	$0.26	$0.23	$0.32	$0.0775	$0.14	($0.0148)	$0.26	$0.25	$0.27	$0.21	$0.21	$0.22	$0.23	$0.16	$0.18	$0.12
Basic EPS (GAAP)	$7.14	$6.16	$5.60	$7.04	$9.31	$7.22	$4.79	$4.81	$4.48	$6.24	$3.84	$3.69	$3.20	$2.92	$2.64	$2.16	$1.60	$1.08	$1.60	$1.59	$1.48	$1.32	$0.91	$0.60	$0.34	$0.23	$0.26	$0.23	$0.33	$0.0775	$0.14	($0.0148)	$0.26	$0.25	$0.27	$0.21	$0.21	$0.22	$0.23	$0.16	$0.18	$0.12
Basic shares outstanding	95	97	102	103	104	105	106	107	109	110	112	116	117	117	118	119	125	127	125	134	149	158	160	160	152	143	142	142	142	147	152	147	154	153	144	139	141	141	142	142	141	139
Margins
Gross margin	20.9%	13.3%	17.1%	17.2%	16.7%	15.4%	15.0%	16.4%	15.8%	16.7%	18.1%	18.5%	16.9%	16.7%	16.6%	16.0%	16.6%	44.7%	43.8%	48.8%	45.6%	47.0%	49.8%	50.1%	51.2%	51.5%	48.7%	49.9%	51.8%	51.9%	50.1%	55.6%	55.3%	62.0%	66.1%	68.7%	73.1%	75.1%	77.3%	76.7%	46.8%	78.2%
Operating margin	7.2%	7.2%	6.9%	7.7%	9.0%	8.6%	7.4%	8.0%	7.9%	8.7%	11.0%	11.6%	10.2%	10.3%	10.5%	9.8%	9.2%	7.7%	9.6%	10.6%	11.2%	11.0%	11.1%	7.6%	4.5%	3.4%	2.9%	3.6%	5.5%	2.8%	4.1%	1.6%	7.0%	13.4%	13.2%	14.1%	16.2%	19.1%	22.0%	22.4%	39.3%	36.0%
Net margin	5.1%	5.0%	4.7%	5.7%	6.5%	6.3%	5.3%	5.6%	5.7%	9.5%	6.6%	6.9%	6.1%	6.1%	6.1%	5.7%	5.3%	4.3%	5.4%	6.1%	6.6%	6.6%	5.2%	3.9%	2.3%	1.6%	1.7%	1.6%	2.5%	0.7%	1.5%	(0.2%)	3.3%	3.7%	4.3%	4.0%	5.2%	6.0%	8.4%	7.8%	12.1%	12.4%

Analyst consensus

Buy46 analysts

Bearish · 1 · Hold · 18 · Bullish · 27

Earnings history

	EPS	Estimate
Q4 2024	$1.53	$1.64	Miss
Q1 2025	$1.17	$1.15	Beat
Q2 2025	$1.31	$1.30	Beat
Q3 2025	$1.76	$1.46	Beat
Q4 2025	$1.90	$1.81	Beat
Q1 2026	$1.49	$1.44	Beat
Q2 2026	$1.91	$1.74	Beat
Q3 2026	$1.82	$1.81	Beat

Peers

Company overview

IPO dateNov 22, 1983

CEOShelley Simpson

Employees31,750

SectorIndustrials

IndustryIntegrated Freight & Logistics

CountryUS

ExchangeNASDAQ Global Select

Websitewww.jbhunt.com

Operating across North America, J.B. Hunt Transport Services, Inc. specializes in ground transportation, last-mile delivery, and comprehensive logistics solutions. Its operations are structured into five distinct divisions: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The Intermodal (JBI) division facilitates freight movement using multiple transport modes. This segment boasts a substantial asset base, including 104,973 company-owned trailers, a self-maintained fleet of 85,649 chassis, 5,612 company-owned tractors, 582 independent contractor vehicles, and a workforce of 6,943 company drivers. Dedicated Contract Services (DCS) focuses on engineering, implementing, and managing bespoke supply chain strategies for diverse transportation requirements. As of December 31, 2021, its fleet comprised 11,139 company-owned trucks, 544 client-owned trucks, and 6 contractor trucks, complemented by 21,069 company-owned trailers and 7,753 customer-owned trailers. Integrated Capacity Solutions (ICS) delivers comprehensive freight brokerage and logistics services. Offerings span specialized transport options such as flatbed, temperature-controlled, expedited, and less-than-truckload (LTL) shipping, alongside standard dry-van and intermodal modalities. This segment also features an online platform connecting various transportation options and offers outsourcing solutions for clients' logistics needs. Final Mile Services (FMS) handles last-stage delivery operations. This is supported by 1,272 company-owned trucks, 272 customer-supplied trucks, 19 independent contractor trucks, 1,036 company-owned trailers, and 185 client-owned trailers. The Truckload (JBT) segment specializes in over-the-road dry-van freight transport, deploying 734 company-owned tractors and 11,172 company-owned trailers. Across its segments, the company facilitates the movement of a diverse array of goods, including consumer products (e.g., general merchandise, specialty items, appliances, food and beverages, soaps and cosmetics, electronics), industrial materials (e.g., forest and paper products, building materials, automotive parts), agricultural products, and chemicals. Established in 1961, the corporation maintains its headquarters in Lowell, Arkansas.

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