Landstar System (LSTR)
NASDAQ:LSTR
Top Page
Landstar System
(NASDAQ:LSTR)
Select Model
Select Model
Rating:58Neutral
Price Target:
$172.00
▲(0.32% Upside)
Action:ReiteratedDate:02/25/26
The score is driven primarily by solid financial resilience (low leverage and ongoing free cash flow) offset by a clear earnings/margin downshift. A cautious earnings update with material claims/insurance pressure and only modest demand/pricing improvement, combined with weak-to-neutral technicals and a high P/E valuation, keeps the overall score in the upper-50s.
Positive Factors
Asset-light business model
Landstar's asset-light model ties most costs to shipments via independent agents and owner-operators, keeping capital intensity low and fixed costs limited. This scalable structure supports margin resilience through cycles and enables flexible capacity management, a durable structural advantage versus asset-heavy peers.
Negative Factors
Rising insurance & claims expense
Material increases in claims and reserve builds create volatile, hard-to-predict operating costs that compress margins and can recur if claim frequency/severity or broker-liability exposure isn't reduced. Such expense shocks materially weaken long-term earnings power and cash available for other uses.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light business model
Landstar's asset-light model ties most costs to shipments via independent agents and owner-operators, keeping capital intensity low and fixed costs limited. This scalable structure supports margin resilience through cycles and enables flexible capacity management, a durable structural advantage versus asset-heavy peers.
Read all positive factors
Landstar System (LSTR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.84B
Dividend Yield2.56%
Average Volume (3M)475.56K
Price to Earnings (P/E)44.1
Beta (1Y)0.84
Revenue Growth-0.74%
EPS Growth-32.79%
CountryUS
Employees1,400
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)0.70
Shares Outstanding34,058,727
10 Day Avg. Volume339,247
30 Day Avg. Volume475,559
Financial Highlights & Ratios
PEG Ratio-1.10
Price to Book (P/B)6.37
Price to Sales (P/S)1.07
P/FCF Ratio23.58
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue1.15
Enterprise Value/Gross Profit7.05
Enterprise Value/Ebitda24.43
Forecast
1Y Price Target
$154.20Price Target Upside-10.06% Downside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)5.34
Revenue Forecast (FY)$4.98B
Landstar System Business Overview & Revenue Model
Company Description
Landstar System, Inc. provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company operates through two segments: Transportation Logistics, and Insurance. The Transportation Logisti...
How the Company Makes Money
Landstar primarily makes money by arranging freight transportation as a broker/third-party logistics provider rather than operating a large company-owned truck fleet. Its core revenue is generated from transportation services it provides to shippe...
Landstar System Key Performance Indicators (KPIs)
Landstar System Earnings Call Summary
Earnings Call Date:Jan 21, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Neutral
The call reflects a balanced mix of notable operational strengths and meaningful near-term challenges. Positive takeaways include record heavy haul performance (FY and Q4), resilient variable contribution margin, strong cash generation, active capital returns, meaningful AI and technology investments, improving BCO turnover and above-seasonal sequential pricing. Offsetting these positives were material increases in insurance and claims expense (including discrete charges and reserve increases), a sizable decline in gross profit and margin, modest revenue contraction in key segments and some fleet headwinds. Management emphasized preparedness, continued investment in technology/AI and a strong balance sheet, but the discrete claim-driven earnings pressure and softer revenue mix temper near-term outlook.Positive Updates
Heavy Haul Record and Quarterly Surge
FY2025 heavy haul revenue set a new record of $569 million (≈14% above FY2024). In Q4 heavy haul revenue was approximately $170 million, up ~23% YoY; heavy haul loadings increased ~7% YoY and revenue per heavy haul load rose ~16% YoY.
Negative Updates
Large Increase in Insurance & Claim Costs
Insurance and claim costs rose to $56.1 million in Q4 2025 vs $30.1 million in Q4 2024. Insurance and claim costs were 12.3% of BCO revenue in Q4 2025 versus 6.7% in Q4 2024, driven by two tragic accidents ($11M pretax charge), a $5.7M broker-liability judgment (company plans to appeal), and a $5.3M increase in actuarial claim reserves.
Read all updates
Q4-2025 Updates
Positive
Negative
Heavy Haul Record and Quarterly Surge
FY2025 heavy haul revenue set a new record of $569 million (≈14% above FY2024). In Q4 heavy haul revenue was approximately $170 million, up ~23% YoY; heavy haul loadings increased ~7% YoY and revenue per heavy haul load rose ~16% YoY.
Read all positive updates
Company Guidance
Landstar did not give formal guidance, instead providing first-quarter revenue commentary: they said January truck loads were about 1% below January 2025 (dispatch basis) while January revenue per load was about 4% above January 2025 (processed basis), characterizing January truck revenue per load as modestly outperforming normal seasonality with volumes essentially in line; historically Q4→Q1 trends show ~4% decreases in both loads and revenue per load (typically a mid‑ to high‑single‑digit top‑line decline), and if February and March similarly outperform January the company estimates Q1 2026 revenue could be down only low single digits versus Q4 2025. They noted typical month‑to‑month patterns of January→February revenue per load down ~1.5% and February→March up ~1.8%, and that variable contribution margin (VCM) historically expands 40–60 basis points Q4→Q1 driven by higher BCO mix—but cautioned that unusually strong Q4 2025 BCO utilization (+8% YoY), potential winter‑storm impacts (estimated 5,000–6,000 knocked‑down dispatch loads), and a fractional early‑Q1 decline in BCO truck count could disrupt normal VCM seasonality. They also highlighted BCO metrics (trailing‑12‑month turnover down from 34.5% to 31.4%, Q4 net truck count down 104, gross truck adds +8.9%, gross cancels −5.1%) and said fleet growth in 2026 will depend on rate improvement.Landstar System Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.74B | 4.83B | 5.31B | 7.44B | 6.54B |
| Gross Profit | 621.63M | 974.88M | 1.13B | 1.51B | 1.32B |
| EBITDA | 197.97M | 304.05M | 397.73M | 625.59M | 553.45M |
| Net Income | 115.01M | 195.95M | 264.39M | 430.91M | 381.52M |
Balance Sheet | |||||
| Total Assets | 1.64B | 1.81B | 1.80B | 1.93B | 2.05B |
| Cash, Cash Equivalents and Short-Term Investments | 452.23M | 566.64M | 540.70M | 393.54M | 251.30M |
| Total Debt | 133.48M | 163.34M | 132.68M | 299.75M | 303.52M |
| Total Liabilities | 840.27M | 840.87M | 817.92M | 1.04B | 1.18B |
| Stockholders Equity | 795.66M | 972.44M | 983.92M | 887.22M | 862.01M |
Cash Flow | |||||
| Free Cash Flow | 215.00M | 255.56M | 367.96M | 596.65M | 253.48M |
| Operating Cash Flow | 224.88M | 286.56M | 393.65M | 622.66M | 276.74M |
| Investing Cash Flow | -2.36M | -10.50M | -6.48M | -24.77M | -73.34M |
| Financing Cash Flow | -343.14M | -237.34M | -247.97M | -475.68M | -232.95M |
Landstar System Technical Analysis
Positive
171.45
Price Trends
154.29
Positive
147.40
Positive
138.21
Positive
Market Momentum
3.16
Negative
68.99
Neutral
90.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LSTR, the sentiment is Positive. The current price of 171.45 is above the 20-day moving average (MA) of 154.38, above the 50-day MA of 154.29, and above the 200-day MA of 138.21, indicating a bullish trend. The MACD of 3.16 indicates Negative momentum. The RSI at 68.99 is Neutral, neither overbought nor oversold. The STOCH value of 90.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LSTR.
Landstar System Risk Analysis
Landstar System disclosed 19 risk factors in its most recent earnings report. Landstar System reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Landstar System Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.36B | 18.11 | 6.30% | 1.14% | -5.79% | -1.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $24.80B | 50.75 | 17.81% | ― | -0.30% | -11.02% | |
61 Neutral | $20.45B | 32.93 | 32.52% | 1.51% | -7.08% | 71.39% | |
58 Neutral | $5.84B | 44.08 | 13.01% | 2.56% | -0.74% | -32.79% | |
50 Neutral | $6.50B | 190.29 | 1.09% | ― | 16.94% | -14.01% | |
45 Neutral | $580.60M | -7.18 | -63.14% | ― | 14.54% | 87.85% |
* Industrials Sector Average
LSTR
Landstar System
171.45
33.87
24.62%
CHRW
CH Robinson
172.42
82.19
91.09%
XPO
XPO
211.70
106.14
100.55%
FWRD
Forward Air
18.40
4.55
32.85%
HUBG
Hub Group
38.61
3.79
10.87%
GXO
GXO Logistics
56.68
21.15
59.53%
Landstar System Corporate Events
Executive/Board Changes
Landstar System Announces Transition in Top Legal Leadership
Neutral
Apr 2, 2026
On April 2, 2026, Landstar System, Inc. announced that longtime executive officer Michael K. Kneller will resign as vice president, general counsel and secretary, effective May 8, 2026, to join transportation-focused law firm Scopelitis, Garvin, L...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Landstar System Q4 2025 Results Highlight Profit Pressures
Negative
Jan 28, 2026
On January 28, 2026, Landstar System reported its financial results for the fourth quarter of fiscal 2025, showing total revenue of $1.17 billion, down slightly from $1.21 billion a year earlier, and basic and diluted EPS of $0.70, a sharp decline...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.