Latest Ratios: P/E Ratio 181.3x · EV/EBITDA 14.1x · ROE 0.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.1B | $8.5B | $8.6B | $9.3B | $8.6B | $10.2B | $7.1B | $6.2B | $4.5B | $4.9B | $2.7B |
| Enterprise Value | $14.7B | $11.1B | $11.1B | $11.5B | $9.8B | $11.8B | $8.0B | $6.9B | $5.0B | $5.4B | $2.7B |
| P/E Ratio → | 181.32 | 127.51 | 72.66 | 43.02 | 11.08 | 13.69 | 17.43 | 19.91 | 10.62 | 10.07 | 28.49 |
| P/S Ratio | 1.62 | 1.14 | 1.16 | 1.31 | 1.15 | 1.70 | 1.53 | 1.27 | 0.84 | 2.01 | 2.40 |
| P/B Ratio | 1.71 | 1.20 | 1.21 | 1.31 | 1.23 | 1.56 | 1.21 | 1.09 | 0.82 | 0.93 | 3.40 |
| P/FCF | 15.82 | 11.16 | — | 103.58 | 13.46 | 15.52 | 17.89 | 641.53 | 35.42 | — | 30.25 |
| P/OCF | 9.53 | 6.72 | 10.76 | 8.03 | 5.96 | 8.55 | 7.76 | 7.35 | 5.06 | 15.33 | 11.03 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.49 | 1.49 | 1.62 | 1.32 | 1.97 | 1.70 | 1.42 | 0.94 | 2.23 | 2.41 |
| EV / EBITDA | 14.11 | 10.68 | 10.67 | 10.75 | 5.62 | 7.64 | 7.44 | 7.70 | 5.03 | 13.24 | 10.18 |
| EV / EBIT | 58.35 | 43.19 | 47.18 | 41.57 | 9.84 | 13.23 | 14.06 | 17.23 | 9.38 | 23.12 | 19.20 |
| EV / FCF | — | 14.55 | — | 128.09 | 15.49 | 17.97 | 19.99 | 713.20 | 39.87 | — | 30.36 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.3% | 28.3% | 24.3% | 27.5% | 32.5% | 32.8% | 31.2% | 26.6% | 25.6% | 25.7% | 30.0% |
| Operating Margin | 3.4% | 3.4% | 3.3% | 4.7% | 14.7% | 16.1% | 12.1% | 8.8% | 10.6% | 8.3% | 13.3% |
| Net Profit Margin | 0.9% | 0.9% | 1.6% | 3.0% | 10.4% | 12.4% | 8.8% | 6.4% | 7.8% | 20.0% | 8.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.9% | 0.9% | 1.7% | 3.1% | 11.4% | 12.0% | 7.1% | 5.6% | 7.8% | 16.1% | 12.3% |
| ROA | 0.5% | 0.5% | 0.9% | 1.8% | 7.0% | 7.6% | 4.8% | 3.8% | 5.4% | 11.1% | 8.5% |
| ROIC | 2.0% | 2.0% | 1.9% | 2.9% | 10.0% | 9.7% | 6.5% | 5.2% | 7.2% | 4.6% | 13.6% |
| ROCE | 2.3% | 2.3% | 2.1% | 3.1% | 10.9% | 11.0% | 7.4% | 5.8% | 7.9% | 5.0% | 14.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.41 | 0.41 | 0.40 | 0.38 | 0.24 | 0.30 | 0.18 | 0.16 | 0.13 | 0.13 | 0.02 |
| Debt / EBITDA | 2.78 | 2.78 | 2.72 | 2.49 | 0.95 | 1.27 | 0.96 | 1.00 | 0.69 | 1.63 | 0.07 |
| Net Debt / Equity | — | 0.37 | 0.34 | 0.31 | 0.19 | 0.25 | 0.14 | 0.12 | 0.10 | 0.10 | 0.01 |
| Net Debt / EBITDA | 2.49 | 2.49 | 2.37 | 2.06 | 0.74 | 1.04 | 0.78 | 0.77 | 0.56 | 1.26 | 0.04 |
| Debt / FCF | — | 3.39 | — | 24.51 | 2.03 | 2.46 | 2.09 | 71.67 | 4.45 | — | 0.11 |
| Interest Coverage | 1.59 | 1.59 | 1.37 | 2.18 | 19.68 | 42.16 | 32.74 | 13.52 | 17.75 | 26.89 | 156.47 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.86 | 0.86 | 0.85 | 0.94 | 1.67 | 1.32 | 1.10 | 0.90 | 1.48 | 1.51 | 2.42 |
| Quick Ratio | 0.86 | 0.86 | 0.85 | 0.94 | 1.67 | 1.32 | 1.10 | 0.90 | 1.48 | 1.51 | 2.42 |
| Cash Ratio | 0.29 | 0.29 | 0.21 | 0.26 | 0.44 | 0.33 | 0.24 | 0.21 | 0.24 | 0.28 | 0.10 |
| Asset Turnover | — | 0.62 | 0.57 | 0.54 | 0.67 | 0.55 | 0.54 | 0.58 | 0.68 | 0.32 | 1.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 17.63 | 41.78 | 49.40 | 45.46 | 57.02 | 46.76 | 41.63 | 42.92 | 95.43 | 49.34 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.4% | 1.2% | 1.0% | 0.9% | 0.6% | 0.8% | 0.7% | 1.0% | 0.5% | 0.7% |
| Payout Ratio | 178.1% | 178.1% | 88.5% | 42.0% | 10.2% | 8.5% | 13.3% | 13.4% | 10.2% | 5.3% | 20.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.8% | 1.4% | 2.3% | 9.0% | 7.3% | 5.7% | 5.0% | 9.4% | 9.9% | 3.5% |
| FCF Yield | 6.3% | 9.0% | — | 1.0% | 7.4% | 6.4% | 5.6% | 0.2% | 2.8% | — | 3.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 3.5% | 0.6% | 2.5% | 1.4% | 4.0% | 0.0% | 1.5% |
| Total Shareholder Yield | 1.0% | 1.4% | 1.2% | 1.0% | 4.4% | 1.2% | 3.3% | 2.1% | 5.0% | 0.5% | 2.2% |
| Shares Outstanding | — | $163M | $162M | $162M | $163M | $167M | $171M | $172M | $178M | $112M | $81M |
Persistent freight market overcapacity
According to current market data, Knight-Swift trades at a forward P/E of 39.15, which appears significantly elevated relative to historical norms and peer averages, suggesting that investors are pricing in a cyclical recovery that has yet to materialize in the company's recent bottom-line performance.
The disconnect between the current 186.85 TTM P/E and the forward multiple implies an expectation of rapid earnings normalization that may be overly optimistic given the persistent freight recession. Investors should monitor whether this valuation premium is supported by the LTL segment's potential for margin expansion or if it represents an unsustainable bet on a near-term industry-wide rate rebound.
As reported in recent financial statements, Knight-Swift's operating margin has compressed to 1.6% in 2026Q1, reflecting the severe difficulty of maintaining profitability in a fragmented industry where rising operational costs and stagnant pricing power continue to erode the company's core earning potential.
The thin operating margins suggest that the company's high variable cost structure is currently ill-equipped to handle the ongoing freight downturn. This performance warrants further investigation into whether the integration of lower-margin acquisitions is permanently diluting the company's historical margin profile or if these headwinds are merely temporary cyclical pressures.
Based on the provided ten-quarter data, Knight-Swift's ROIC has struggled to maintain positive momentum, hovering near 0.2% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital in the current market environment.
The decay in ROIC appears to be driven by both the heavy capital intensity of the tractor fleet and the integration costs associated with recent acquisitions. This trend suggests that management's capital allocation strategy is currently being hampered by the broader industry overcapacity, which limits the ability to achieve efficient asset utilization.
Data from the most recent quarterly filings shows a current ratio of 0.70 in 2026Q1, which represents a notable decline from previous periods and suggests that the company's immediate liquidity buffer may be tightening as it manages ongoing operational costs in a soft freight market.
A current ratio below 1.0 indicates that the company's short-term obligations may be outpacing its liquid assets, leaving little room for error should freight volumes deteriorate further. Investors should monitor the company's ability to maintain sufficient cash flow to cover these obligations without resorting to additional debt financing.
The P/E ratio is frequently misapplied to Knight-Swift because it obscures the extreme volatility of earnings caused by cyclical freight rates and non-recurring acquisition-related charges, which often lead to distorted valuation signals that do not reflect the underlying cash-generating capacity of the business model.
Analysts should instead prioritize EV/EBITDA or a sum-of-the-parts valuation to better account for the company's capital-intensive asset base and the distinct margin profiles of its LTL versus Truckload segments. Relying on P/E in a cyclical trough risks misinterpreting a temporary earnings collapse as a permanent loss of value.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying KNX stock.
Knight-Swift Transportation Holdings Inc.'s current P/E ratio is 181.3x. The historical average is 39.4x. This places it at the 100th percentile of its historical range.
Knight-Swift Transportation Holdings Inc.'s current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.2x.
Knight-Swift Transportation Holdings Inc.'s return on equity (ROE) is 0.9%. The historical average is 13.3%.
Based on historical data, Knight-Swift Transportation Holdings Inc. is trading at a P/E of 181.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Knight-Swift Transportation Holdings Inc.'s current dividend yield is 0.97% with a payout ratio of 178.1%.
Knight-Swift Transportation Holdings Inc. has 28.3% gross margin and 3.4% operating margin.
Knight-Swift Transportation Holdings Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.