TFI International (TFII) AI Stock Analysis

• Market Cap: C$12.77B
• Dividend Yield: 1.75%
• Average Volume (3M): 208.68K
• Price to Earnings (P/E): 28.8
• Beta (1Y): 1.16
• Revenue Growth: -0.25%
• EPS Growth: -28.71%
• Country: CA
• Employees: 26,312
• Sector: Industrials
• Sector Strength: 72
• Industry: Trucking
• EPS (TTM): 1.67
• Shares Outstanding: 82,287,800
• 10 Day Avg. Volume: 204,115
• 30 Day Avg. Volume: 208,675
• PEG Ratio: -2.73
• Price to Book (P/B): 6.15
• Price to Sales (P/S): 2.05
• P/FCF Ratio: 25.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$163.06
• Price Target Upside: 5.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): 7.11
• Revenue Forecast (FY): C$11.20B

• Rating: 67 Neutral
• Price Target: C$157.00 ▲(1.19% Upside)

The score is driven by solid cash generation and a constructive technical uptrend, partly offset by cooling operating performance (weaker revenue/margins and moderate leverage) and a less attractive valuation. The latest earnings call was mixed, with shareholder returns and U.S. LTL progress balanced against declining results and soft near-term EPS guidance.

TFI International Business Overview & Revenue Model

Company Description

TFI International Inc. provides transportation and logistics services in the United States, Canada, and Mexico. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items. The LTL segment is involved in the pickup, consolidation, transportation, and delivery of smaller loads. The TL segment offers expedited transportation, flatbed, tank container, and dedicated services, as well as TL brokerage services. This segment carries full loads directly from the customer to the destination using a closed van or specialized equipment. The Logistics segment provides asset-light logistics services, including brokerage, freight forwarding, and transportation management, as well as small package parcel delivery. As of December 31, 2021, the company had 13,384 tractors, 50,091 trailers, and 9,428 independent contractors. The company was formerly known as TransForce Inc. and changed its name to TFI International Inc. in December 2016. TFI International Inc. is headquartered in Saint-Laurent, Canada.

How the Company Makes Money

TFI International makes money by offering a variety of transportation and logistics services across North America. Its revenue model is primarily based on freight charges for moving goods through its network of trucks and intermodal services. The Package and Courier segment earns through parcel delivery services, often catering to e-commerce businesses. The Less-Than-Truckload and Truckload segments generate revenue by transporting goods that do not require a full truck's capacity or require full truckload services, respectively. The Logistics segment contributes by providing supply chain solutions, including freight brokerage and warehousing services. The company also benefits from strategic acquisitions and partnerships that expand its service offerings and geographic reach, enhancing its revenue potential.

TFI International Financial Statement Overview

Summary

Profitable and cash-generative, led by strong operating cash flow (~$954M TTM) and free cash flow (~$690M TTM), but fundamentals have cooled: TTM revenue is slightly contracting and margins/ROE are down versus prior years. Leverage is a notable risk with debt-to-equity a bit above ~1.1x.

Income Statement

TFI International shows solid profitability but a clear downshift in momentum. Revenue is essentially flat from 2024 to TTM (Trailing-Twelve-Months) and is down on a growth-rate basis (TTM revenue growth: -3.136). Profitability has also compressed versus prior years: TTM gross margin is ~12.7% and net margin ~4.4% (down from ~13.7% and ~5.0% in 2024, and meaningfully below 2021–2022 levels). The business remains profitable with a healthy EBITDA margin (~15.4% TTM), but the trend indicates softer pricing/mix and/or cost pressure versus the stronger 2021–2022 period.

Balance Sheet

The balance sheet is adequate but moderately leveraged. Total debt is ~3.0B in both 2024 and TTM (Trailing-Twelve-Months), while debt-to-equity sits a bit above 1.1x, signaling meaningful reliance on debt financing. Returns remain decent (ROE ~13.6% TTM), though down from 2024 (~15.1%) and well below the peak levels seen in 2021–2022. Asset base is stable (~7.1B total assets), but leverage is a key risk factor if the current margin and volume softness persists.

Cash Flow

Cash generation is a relative strength. Operating cash flow is strong at ~954M in TTM (Trailing-Twelve-Months) and supports healthy free cash flow of ~690M, even with a modest decline in free cash flow growth (TTM: -6.403). Cash conversion is reasonable: operating cash flow is roughly in line with net income (~1.02x TTM), indicating earnings quality is generally supported by cash. A watch-out is that free cash flow is below net income (~0.70x TTM), suggesting capital spending and/or working-capital needs are meaningfully consuming cash, though still leaving substantial residual free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	8.00B	7.99B	7.64B	8.55B	7.10B	3.97B
Gross Profit	996.98M	1.09B	1.18B	1.38B	1.01B	569.36M
EBITDA	1.21B	1.25B	1.23B	1.53B	1.35B	754.77M
Net Income	320.81M	402.20M	513.06M	798.73M	741.74M	289.65M
Balance Sheet
Total Assets	7.11B	7.14B	6.27B	5.56B	5.83B	3.83B
Cash, Cash Equivalents and Short-Term Investments	31.58M	0.00	334.75M	148.45M	19.13M	4.28M
Total Debt	2.99B	2.98B	2.34B	1.74B	2.02B	1.22B
Total Liabilities	4.47B	4.47B	3.68B	3.07B	3.54B	2.05B
Stockholders Equity	2.64B	2.67B	2.59B	2.49B	2.29B	1.78B
Cash Flow
Free Cash Flow	690.11M	637.67M	662.85M	602.34M	576.84M	491.89M
Operating Cash Flow	953.65M	1.01B	1.03B	942.73M	840.99M	641.84M
Investing Cash Flow	-252.23M	-1.18B	-810.26M	216.77M	-1.14B	-397.67M
Financing Cash Flow	-725.38M	-156.54M	-28.52M	-1.04B	316.89M	-239.65M

TFI International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 155.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TFII, the sentiment is Positive. The current price of 155.15 is above the 20-day moving average (MA) of 149.27, above the 50-day MA of 135.64, and above the 200-day MA of 125.23, indicating a bullish trend. The MACD of 5.41 indicates Negative momentum. The RSI at 67.59 is Neutral, neither overbought nor oversold. The STOCH value of 79.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:TFII.

TFI International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EIF	75 Outperform	C$5.08B	32.28	9.88%	3.13%	15.47%	9.40%
MTL	74 Outperform	C$1.60B	15.29	9.33%	5.21%	5.53%	-21.87%
WJX	69 Neutral	C$612.81M	13.30	8.84%	5.09%	3.71%	-12.70%
TFII	67 Neutral	C$12.77B	28.82	11.98%	1.75%	-0.25%	-28.71%
CJT	67 Neutral	C$1.38B	11.51	16.75%	1.67%	7.71%	3170.43%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SES	61 Neutral	C$3.87B	39.29	11.37%	2.27%	-1.47%	-79.68%

TFI International Corporate Events

TFI International Announces Increased Quarterly Dividend

TFI International Inc. has announced a quarterly dividend of US $0.47 per common share, marking a 4% increase from the previous dividend. This decision reflects the company’s commitment to delivering value to its shareholders and underscores its strong financial position in the transportation and logistics industry.

The most recent analyst rating on (TSE:TFII) stock is a Buy with a C$160.00 price target. To see the full list of analyst forecasts on TFI International stock, see the TSE:TFII Stock Forecast page.

TFI International Reports Decline in Q3 2025 Earnings Amid Market Challenges

TFI International reported a decline in its third-quarter 2025 financial results compared to the previous year, with operating income at $153.3 million and net income at $84.7 million. Despite the decrease in revenue and income due to weaker market demand, the company maintained strong cash flow and increased its quarterly dividend by 4%, reflecting its strategic focus on shareholder returns and operational resilience.

The most recent analyst rating on (TSE:TFII) stock is a Hold with a C$94.00 price target. To see the full list of analyst forecasts on TFI International stock, see the TSE:TFII Stock Forecast page.