# Landstar System, Inc. (LSTR)

> Source: Nexqual · https://nexqual.com/LSTR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Landstar System, Inc. (LSTR), nexqual.com/LSTR" · informational, not investment advice.

**Price:** USD 169.39 (-1.10% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 171.28 · day 169.09–173.78 · 52w 121.12–228.46 · market cap $5.75B · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $4.98B, net income $132M (2.6% margin), free cash flow $176M (SEC filings).
- Valuation: P/E 43.6x (avg 33.6x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $2.8M; 2 not under a Rule 10b5-1 plan ($2.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.89 on a 1–5 scale) (18 analysts), mean target USD 187.69 (range 145–225).
- Total return with dividends: 1Y +33.6% vs S&P 500 +14.9%; 5Y +7.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 1.66, revenue estimate $1.50B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.54B | $7.44B | $5.30B | $4.82B | $4.74B | $4.98B |
| Operating income | $506M | $571M | $344M | $249M | $152M | $175M |
| Net income | $382M | $431M | $264M | $196M | $115M | $132M |
| EPS (diluted) | $9.98 | $11.76 | $7.36 | $5.51 | $3.31 | — |
| Free cash flow | $253M | $597M | $368M | $256M | $215M | $176M |
| Operating margin | 7.7% | 7.7% | 6.5% | 5.2% | 3.2% | 3.5% |
| Net margin | 5.8% | 5.8% | 5.0% | 4.1% | 2.4% | 2.6% |
| Revenue growth | +58.2% | +13.8% | -28.7% | -9.1% | -1.6% | — |
| Cash + short-term investments | $251M | $394M | $541M | $567M | $452M | — |
| Total debt | $0K | $0K | $0K | $0K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 43.6x · P/S 1.1x · P/FCF 32.7x · P/B 6.9x · FCF yield 3.06% · Earnings yield 2.29% · Dividend yield (paid, TTM) 2.14% · Buyback yield (TTM) 1.77%
P/E at fiscal year-ends: Dec 2025 43.4x, Dec 2024 31.2x, Dec 2023 26.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-15 | Todd James P | VP and CFO | 1,200 | $262K | 7.4% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-05 | Murphy Diana M | Director | 11,246 | $2.5M | 37.4% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.89 on a 1–5 scale), 18 analysts; mean target USD 187.69 (low 145, high 225).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | Truist Securities | Target lowered | Hold | $185 → $175 |
| 2026-10-06 | Wells Fargo | Target lowered | Overweight | $240 → $225 |
| 2026-10-05 | JP Morgan | Target lowered | Neutral | $204 → $181 |
| 2026-08-04 | Wolfe Research | Upgrade | Peer Perform → Outperform | $214 |
| 2026-07-29 | JP Morgan | Target raised | Neutral | $198 → $204 |
| 2026-07-29 | Stifel | Target raised | Hold | $186 → $197 |
| 2026-07-29 | Baird | Target lowered | Outperform | $225 → $215 |
| 2026-07-28 | TD Cowen | Target lowered | Hold | $200 → $178 |
| 2026-07-16 | Goldman Sachs | Target raised | Sell | $147 → $168 |
| 2026-07-15 | Truist Securities | Target raised | Hold | $190 → $205 |
| 2026-07-14 | Susquehanna | Target raised | Neutral | $195 → $230 |
| 2026-07-13 | Stifel | Target raised | Hold | $175 → $186 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +33.6% | +7.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +33.7% | +1.4% |
| Volatility (annualized) | 34.9% | 26.1% |
| Max drawdown | -27.2% (Jun 2026→Sep 2026) | -37.4% (Jul 2023→Sep 2025) |

## Peers (Integrated Freight & Logistics)
GXO (GXO Logistics, Inc.) USD 48.91 +0.99% · PBI (Pitney Bowes Inc.) USD 17.54 +0.80% · ZTO (ZTO Express (Cayman) Inc.) USD 20.06 +0.96% · FDXF (FedEx Freight Holding Company, ) USD 111.02 +2.84% · CHRW (C.H. Robinson Worldwide, Inc.) USD 142.31 +0.96% · HUBG (Hub Group, Inc.) USD 26.47 +1.61%

## More
Full page: https://nexqual.com/LSTR · 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

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Transportation Logistics | $1.42B | 99.0% | +18.5% | $60.8M | 4.3% |
| Insurance | $14.5M | 1.0% | -1.3% | $5.4M | 37.5% |
| Total revenue | $1.43B | 100% | — | $66.2M | 4.6% |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.66 | $1.59 | +4.6% | $1.50B | 17 |
| Next quarter (ends 2026-12-31) | $1.68 | $1.61 | +4.4% | $1.48B | 16 |
| Current fiscal year (ends 2026-12-31) | $5.93 | $5.83 | +1.8% | $5.58B | 18 |
| Next fiscal year (ends 2027-12-31) | $7.66 | $7.46 | +2.8% | $6.20B | 18 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-27): ±8.1%; last 8 reports averaged ±3.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 35.8% | ±8.1% |
| 2026-12-18 | 56 | 33.6% | ±10.6% |
| 2027-01-15 | 84 | 33.7% | ±13.0% |
| 2027-04-16 | 175 | 33.3% | ±18.4% |