LSTRNasdaqTrucking (No Local)Fiscal year ends December 30
LANDSTAR SYSTEM INC
Financials through Q1 FY2026, quarter ended Mar 28, 2026Last filing: 10-Q on Jul 29, 2026
$168.36−3.29 (-1.92%)
Close on Oct 19, 2026
- Market cap
- $5.73B
- P/E (TTM)
- 46.5
- Dividend yield
- 2.11%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
3.2%−2.9 pts over 5 years
Net margin
2.4%−2.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.6% | -13.9% | +2.8% | +3.6% | |
| Operating income | -39.1% | -35.7% | -9.7% | -4.6% | |
| Net income | -41.3% | -35.6% | -9.8% | -2.5% | |
| EPS, diluted | -39.9% | -34.5% | -7.8% | -0.2% | |
| Free cash flow | -15.9% | -28.8% | +3.6% | +0.2% | |
| Dividend per share | +5.3% | +4.7% | +5.0% | +28.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 27.2% | 27.2% | 13.0% | |
| Return on assets | 13.2% | 12.5% | 6.7% | |
| Current ratio | 1.94 | 1.50 | 1.75 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | 27.1× | |
| Capex to revenue | 0.7% | 0.7% | 0.2% | |
| Diluted shares | 42M | 39M | 35M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Landstar System generated $1.80B from operations and spent $1.43B on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$1.80B
Used
$1.43B
Capital expenditure$115.83M8%Dividends$590.00M41%Share buybacks$723.88M51%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.4%
×Asset turnover2.75×
×Equity multiplier1.95×
=Return on equity, FY202513.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.4% | 2.75× | 1.95× | 13.0% |
| FY2024 | 4.1% | 2.67× | 1.85× | 20.0% |
| FY2023 | 5.0% | 2.84× | 2.00× | 28.3% |
| FY2022 | 5.8% | 3.74× | 2.27× | 49.3% |
| FY2021 | 5.8% | 3.53× | 2.38× | 49.1% |
| FY2020 | 4.6% | 2.68× | 2.18× | 27.2% |
| FY2019 | 5.6% | 2.91× | 1.99× | 32.3% |
| FY2018 | 5.5% | 3.38× | 2.04× | 38.2% |
| FY2017 | 4.9% | 2.98× | 2.05× | 29.7% |
| FY2016 | 4.3% | 3.03× | 2.07× | 27.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$115.01M
- Cash generatingOperating cash flow above zero$224.88M
- Return on assets improvedROA up on the prior year10.9% → 6.3%
- Earnings backed by cashOperating cash flow above net income$224.88M vs $115.01M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.96 → 1.75
- No dilutionShare count did not rise36M → 35M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose2.67 → 2.62