# Knight-Swift Transportation Holdings Inc. (KNX)

> Source: Nexqual · https://nexqual.com/KNX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Knight-Swift Transportation Holdings Inc. (KNX), nexqual.com/KNX" · informational, not investment advice.

**Price:** USD 62.52 (-1.08% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 63.2 · day 62.46–65.27 · 52w 41.24–82.86 · market cap $10.2B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.73B, net income $42.9M (0.6% margin) (SEC filings).
- Valuation: P/E 237.0x (avg 81.7x at the last 3 fiscal year-ends), EV/EBITDA 10.7x, net debt $117M.
- Earnings quality: non-operating income -$139M (gains on equity investments $928K) vs operating income $210M over the last four quarters; P/E excluding non-operating income ≈76.2x (estimate: non-operating income taxed at the company's 35% effective rate).
- 1 of 80 tracked superinvestors hold KNX (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (21 analysts), mean target USD 85.25 (range 59–100).
- Total return with dividends: 1Y +43.8% vs S&P 500 +14.9%; 5Y +17.6% vs S&P 500 +80.3%.
- Next earnings: 2027-01-20, EPS estimate USD 0.82, revenue estimate $2.18B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.00B | $7.43B | $7.14B | $7.41B | $7.47B | $7.73B |
| Operating income | $966M | $1.09B | $338M | $243M | $216M | $210M |
| Net income | $743M | $771M | $217M | $118M | $65.9M | $42.9M |
| EPS (diluted) | $4.45 | $4.73 | $1.34 | $0.73 | $0.41 | — |
| Operating margin | 16.1% | 14.7% | 4.7% | 3.3% | 2.9% | 2.7% |
| Net margin | 12.4% | 10.4% | 3.0% | 1.6% | 0.9% | 0.6% |
| Revenue growth | +28.3% | +23.9% | -3.9% | +3.8% | +0.8% | — |
| Cash + short-term investments | $261M | $197M | $169M | $218M | $220M | — |
| Total debt | $1.51B | $1.08B | $1.63B | $1.83B | $1.74B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 237.0x · P/E ex non-operating (est.) ≈76.2x · P/S 1.3x · EV/EBITDA 10.7x · EV/Sales 1.3x · P/B 1.5x · Earnings yield 0.42% · Dividend yield (paid, TTM) 1.22% · Net debt $117M · EV $10.3B
P/E at fiscal year-ends: Dec 2025 128.9x, Dec 2024 73.1x, Dec 2023 43.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold KNX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.01% | $4.6M | Reduced -95.3% |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 21 analysts; mean target USD 85.25 (low 59, high 100).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Evercore ISI Group | Target raised | Outperform | $74 → $79 |
| 2026-10-22 | Wells Fargo | Target lowered | Overweight | $81 → $79 |
| 2026-10-22 | JP Morgan | Target raised | Neutral | $68 → $74 |
| 2026-10-22 | Stifel | Target raised | Buy | $90 → $92 |
| 2026-10-13 | UBS | Target lowered | Buy | $94 → $82 |
| 2026-10-08 | Stifel | Target raised | Buy | $88 → $90 |
| 2026-10-07 | Citigroup | Target lowered | Buy | $90 → $81 |
| 2026-10-06 | Wells Fargo | Target lowered | Overweight | $86 → $81 |
| 2026-10-05 | JP Morgan | Target lowered | Neutral | $84 → $68 |
| 2026-10-02 | Susquehanna | Target lowered | Positive | $96 → $85 |
| 2026-09-23 | B of A Securities | Target lowered | Buy | $98 → $92 |
| 2026-09-10 | Bernstein | Initiated | Outperform | $91 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +43.8% | +17.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +44.0% | +3.3% |
| Volatility (annualized) | 37.6% | 30.0% |
| Max drawdown | -23.9% (Jun 2026→Oct 2026) | -35.6% (Jan 2023→Apr 2025) |

## Peers (Trucking)
TFII (TFI International Inc.) USD 115 +2.10% · SAIA (Saia, Inc.) USD 344.5 +1.67% · SNDR (Schneider National, Inc.) USD 31.12 +0.65% · XPO (XPO, Inc.) USD 188.75 +0.15% · RXO (RXO, Inc.) USD 28.92 +0.49% · ARCB (ArcBest Corporation) USD 130.3 -0.39%

## More
Full page: https://nexqual.com/KNX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.82 | $0.81 | +1.8% | $2.18B | 19 |
| Next quarter (ends 2027-03-31) | $0.75 | $0.71 | +4.7% | $2.10B | 13 |
| Current fiscal year (ends 2026-12-31) | $2.38 | $2.31 | +3.0% | $8.32B | 20 |
| Next fiscal year (ends 2027-12-31) | $4.06 | $4.00 | +1.5% | $9.05B | 20 |