NASDAQ : LSTR
Landstar System, Inc. — Financial statements
Industrials · Integrated Freight & Logistics · United States
Last price 142.7 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.81B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Landstar System, Inc. (LSTR) reported revenue of 5.30B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 5.23B | 4.69B | 4.76B | 5.23B | 7.36B | 6.47B |
| Other Revenue | 69.11M | 72.33M | 78.05M | 82.62M | 81.72M | 74.71M |
| Revenue | 5.30B | 4.76B | 4.83B | 5.31B | 7.44B | 6.54B |
| Cost of Revenue | 4.13B | 3.69B | 3.75B | 4.07B | 5.80B | 5.11B |
| Gross Profit | 988.17M | 909.67M | 974.88M | 1.13B | 1.51B | 1.32B |
| Selling, General & Admin | 661.60M | 617.95M | 610.46M | 674.47M | 836.14M | 728.49M |
| Other Operating Expenses | 74.10M | 63.39M | 60.38M | 58.77M | 48.14M | 38.36M |
| Operating Expenses | 777.09M | 727.73M | 727.58M | 791.38M | 941.73M | 816.46M |
| Operating Income | 211.08M | 181.94M | 247.31M | 339.57M | 568.14M | 503.84M |
| Interest Expense | -1.93M | -996.00K | -3.62M | -3.98M | ||
| Interest & Investment Income | 5.42M | 3.95M | ||||
| EBT Excluding Unusual Items | 209.15M | 180.94M | 252.73M | 343.52M | 564.52M | 499.86M |
| Impairment of Goodwill | 8.61M | -7.53M | ||||
| Gain (Loss) on Sale of Investments | -5.00M | |||||
| Gain (Loss) on Sale of Assets | 743.00K | 1.81M | 1.60M | 4.57M | 2.94M | 1.83M |
| Asset Writedown | -10.68M | -19.64M | ||||
| Other Unusual Items | 4.80M | |||||
| Pretax Income | 212.62M | 150.58M | 254.33M | 348.10M | 567.46M | 501.69M |
| Income Tax Expense | 52.25M | 35.57M | 58.38M | 83.70M | 136.55M | 120.17M |
| Earnings From Continuing Operations | 160.38M | 115.01M | 195.95M | 264.39M | 430.91M | 381.52M |
| Net Income | 160.38M | 115.01M | 195.95M | 264.39M | 430.91M | 381.52M |
| Net Income to Common | 160.38M | 115.01M | 195.95M | 264.39M | 430.91M | 381.52M |
| Shares Outstanding (Basic) | 34.01M | 34.72M | 35.54M | 35.92M | 36.63M | 38.23M |
| Shares Outstanding (Diluted) | 34.01M | 34.72M | 35.54M | 35.92M | 36.63M | 38.23M |
| EPS (Basic) | 4.72 | 3.31 | 5.51 | 7.36 | 11.76 | 9.98 |
| EPS (Diluted) | 4.72 | 3.31 | 5.51 | 7.36 | 11.76 | 9.98 |
| Free Cash Flow | 157.62M | 215.00M | 255.56M | 367.96M | 596.65M | 253.48M |
| Free Cash Flow Per Share | 4.63 | 6.19 | 7.19 | 10.24 | 16.29 | 6.63 |
| Dividend Per Share | 1.64 | 1.56 | 1.38 | 1.26 | 1.10 | 0.92 |
| Gross Margin | 18.64% | 19.12% | 20.17% | 21.29% | 20.29% | 20.19% |
| Operating Margin | 3.98% | 3.82% | 5.12% | 6.39% | 7.64% | 7.70% |
| Profit Margin | 3.03% | 2.42% | 4.05% | 4.98% | 5.79% | 5.83% |
| Free Cash Flow Margin | 2.97% | 4.52% | 5.29% | 6.93% | 8.02% | 3.88% |
| EBITDA | 252.47M | 228.33M | 304.05M | 397.73M | 625.59M | 553.45M |
| EBITDA Margin | 4.76% | 4.80% | 6.29% | 7.49% | 8.41% | 8.46% |
| D&A For EBITDA | 41.39M | 46.39M | 56.74M | 58.15M | 57.45M | 49.61M |
| EBIT | 211.08M | 181.94M | 247.31M | 339.57M | 568.14M | 503.84M |
| EBIT Margin | 3.98% | 3.82% | 5.12% | 6.39% | 7.64% | 7.70% |
| Effective Tax Rate | 24.57% | 23.62% | 22.96% | 24.04% | 24.06% | 23.95% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 297.32M | 396.69M | 515.02M | 481.04M | 339.58M | 215.52M |
| Short-Term Investments | 53.68M | 55.53M | 51.62M | 59.66M | 53.95M | 35.78M |
| Cash & Short-Term Investments | 351.00M | 452.23M | 566.64M | 540.70M | 393.54M | 251.30M |
| Accounts Receivable | 892.40M | 670.14M | 683.84M | 743.76M | 967.79M | 1.15B |
| Other Receivables | 77.90M | 52.78M | 47.16M | 43.34M | 56.23M | 101.12M |
| Receivables | 970.30M | 722.92M | 731.00M | 787.10M | 1.02B | 1.26B |
| Other Current Assets | 50.22M | 41.18M | 22.23M | 24.94M | 21.83M | 16.16M |
| Total Current Assets | 1.37B | 1.22B | 1.32B | 1.35B | 1.44B | 1.52B |
| Property, Plant & Equipment | 268.98M | 261.94M | 311.35M | 284.30M | 314.99M | 317.39M |
| Long-Term Investments | 19.61M | 16.15M | ||||
| Goodwill | 34.01M | 34.01M | 40.93M | 42.27M | 41.22M | 40.77M |
| Other Long-Term Assets | 113.60M | 107.52M | 141.17M | 122.53M | 136.28M | 164.41M |
| Total Assets | 1.81B | 1.64B | 1.81B | 1.80B | 1.93B | 2.05B |
| Accounts Payable | 482.04M | 369.57M | 383.62M | 395.98M | 527.37M | 604.13M |
| Accrued Expenses | 87.39M | 87.34M | 40.51M | 41.83M | 50.84M | 46.90M |
| Short-Term Debt | 68.71M | 56.65M | 61.03M | 61.54M | 92.95M | 116.48M |
| Current Portion of Leases | 26.05M | 28.63M | 33.12M | 27.88M | 36.17M | 36.56M |
| Other Current Liabilities | 101.56M | 153.65M | 154.87M | 148.00M | 170.80M | 205.92M |
| Total Current Liabilities | 765.76M | 695.84M | 673.15M | 675.22M | 878.13M | 1.01B |
| Long-Term Leases | 57.04M | 48.81M | 69.19M | 43.26M | 67.22M | 75.24M |
| Long-Term Deferred Tax Liabilities | 51.63M | 32.92M | 35.69M | 23.99M | 31.43M | 48.72M |
| Other Long-Term Liabilities | 103.30M | 62.71M | 62.84M | 75.45M | 67.86M | 49.51M |
| Total Liabilities | 977.72M | 840.27M | 840.87M | 817.92M | 1.04B | 1.18B |
| Common Stock | 686.00K | 686.00K | 686.00K | 685.00K | 684.00K | 682.00K |
| Additional Paid-In Capital | 269.70M | 261.26M | 255.26M | 254.64M | 258.49M | 255.15M |
| Retained Earnings | 2.95B | 2.85B | 2.86B | 2.78B | 2.64B | 2.32B |
| Treasury Stock | -2.38B | -2.31B | -2.13B | -2.05B | -1.99B | -1.71B |
| Comprehensive Income & Other | -9.10M | -5.71M | -12.01M | -6.87M | -15.02M | -5.40M |
| Total Common Equity | 830.00M | 795.66M | 972.44M | 983.92M | 887.22M | 862.01M |
| Shareholders' Equity | 830.00M | 795.66M | 972.44M | 983.92M | 887.22M | 862.01M |
| Total Liabilities & Equity | 1.81B | 1.64B | 1.81B | 1.80B | 1.93B | 2.05B |
| Total Debt | 151.80M | 134.09M | 163.34M | 132.68M | 196.35M | 228.28M |
| Net Cash (Debt) | 199.21M | 318.13M | 403.30M | 408.02M | 197.18M | 23.02M |
| Net Cash Per Share | 5.86 | 9.16 | 11.35 | 11.36 | 5.38 | 0.60 |
| Filing Date Shares Outstanding | 33.71M | 34.06M | 35.32M | 35.72M | 35.93M | 37.29M |
| Total Common Shares Outstanding | 33.71M | 34.06M | 35.32M | 35.72M | 35.93M | 37.69M |
| Working Capital | 605.77M | 520.49M | 646.71M | 677.52M | 561.25M | 512.92M |
| Book Value Per Share | 24.62 | 23.36 | 27.54 | 27.55 | 24.69 | 22.87 |
| Tangible Book Value | 795.99M | 761.66M | 931.51M | 941.65M | 846.00M | 821.24M |
| Tangible Book Value Per Share | 23.61 | 22.36 | 26.38 | 26.36 | 23.55 | 21.79 |
| Land | 17.39M | 17.39M | 16.33M | 16.33M | 16.33M | |
| Buildings | 81.05M | 80.72M | 71.16M | 69.16M | 65.03M | |
| Machinery | 636.53M | 669.78M | 633.50M | 622.78M | 580.12M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 160.38M | 115.01M | 195.95M | 264.39M | 430.91M | 381.52M |
| Depreciation & Amortization | 41.39M | 46.39M | 56.74M | 58.15M | 57.45M | 49.61M |
| Loss (Gain) From Sale of Assets | -743.00K | -1.81M | -1.60M | -4.57M | -2.94M | -1.83M |
| Asset Writedown & Restructuring Costs | 7.07M | 32.17M | ||||
| Stock-Based Compensation | 9.20M | 6.00M | 3.44M | 4.28M | 12.40M | 27.54M |
| Provision & Write-off of Bad Debts | 8.26M | 16.57M | 18.27M | 14.03M | 12.22M | 5.72M |
| Other Operating Activities | 14.62M | 2.91M | -6.73M | -7.45M | -5.00M | -3.34M |
| Change in Accounts Receivable | -226.14M | -8.49M | 37.83M | 222.90M | 219.19M | -362.23M |
| Change in Accounts Payable | 79.29M | -14.06M | -12.36M | -131.39M | -76.76M | 224.12M |
| Change in Other Net Operating Assets | 83.11M | 30.19M | -4.98M | -26.70M | -24.81M | -44.37M |
| Operating Cash Flow | 171.43M | 224.88M | 286.56M | 393.65M | 622.66M | 276.74M |
| Capital Expenditures | -13.82M | -9.88M | -31.00M | -25.69M | -26.00M | -23.26M |
| Sale of Property, Plant & Equipment | 6.96M | 6.92M | 9.75M | 8.29M | 5.24M | 2.97M |
| Investment in Securities | -4.38M | 599.00K | 10.75M | 10.92M | -4.00M | -53.05M |
| Investing Cash Flow | -11.23M | -2.36M | -10.50M | -6.48M | -24.77M | -73.34M |
| Short-Term Debt Issued | 41.73M | |||||
| Total Debt Issued | 12.06M | 41.73M | ||||
| Short-Term Debt Repaid | -4.38M | -508.00K | -31.41M | -23.52M | ||
| Long-Term Debt Repaid | -33.22M | -31.03M | -36.35M | -39.06M | -37.64M | |
| Total Debt Repaid | -22.14M | -37.60M | -31.54M | -67.77M | -62.59M | -37.64M |
| Net Debt Issued (Repaid) | -10.08M | -37.60M | -31.54M | -67.77M | -62.59M | 4.09M |
| Issuance of Common Stock | 28.00K | 68.00K | 160.00K | |||
| Repurchase of Common Stock | -102.86M | -180.79M | -85.33M | -63.10M | -296.41M | -125.06M |
| Common Dividends Paid | -55.76M | -56.64M | -49.84M | -117.13M | -115.67M | -111.96M |
| Other Financing Activities | -1.05M | -1.08M | -168.00K | |||
| Financing Cash Flow | -237.86M | -343.14M | -237.34M | -247.97M | -475.68M | -232.95M |
| Foreign Exchange Rate Adjustments | -1.00M | 2.47M | -4.75M | 2.26M | -2.19M | -232.00K |
| Miscellaneous Cash Flow Adjustments | 798.00K | -179.00K | ||||
| Net Cash Flow | -77.87M | -118.32M | 33.98M | 141.46M | 120.01M | -29.78M |
| Free Cash Flow | 157.62M | 215.00M | 255.56M | 367.96M | 596.65M | 253.48M |
| Free Cash Flow Margin | 2.97% | 4.52% | 5.29% | 6.93% | 8.02% | 3.88% |
| Free Cash Flow Per Share | 4.63 | 6.19 | 7.19 | 10.24 | 16.29 | 6.63 |
| Levered Free Cash Flow | 87.28M | 176.28M | 235.75M | 319.60M | 514.48M | 173.11M |
| Unlevered Free Cash Flow | 88.49M | 176.90M | 235.75M | 319.60M | 516.74M | 175.60M |
| Cash Interest Paid | 4.80M | 5.33M | 3.81M | 3.60M | 4.15M | 3.71M |
| Cash Income Tax Paid | 35.21M | 51.45M | 47.53M | 92.69M | 158.72M | 104.84M |
| Change in Working Capital | -63.74M | 7.64M | 20.50M | 64.81M | 117.62M | -182.48M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.97B | 5.02B | 6.16B | 6.96B | 5.85B | 6.56B |
| Enterprise Value | 4.77B | 4.71B | 5.75B | 6.59B | 5.83B | 6.49B |
| Last Close Price | 142.70 | 143.04 | 166.83 | 182.06 | 150.25 | 155.98 |
| PE Ratio | 31.29 | 43.61 | 31.43 | 26.33 | 13.58 | 17.20 |
| Forward PE | 20.70 | 28.03 | 27.33 | 26.49 | 17.22 | 17.30 |
| PS Ratio | 0.91 | 1.05 | 1.27 | 1.31 | 0.79 | 1.00 |
| PB Ratio | 5.80 | 6.30 | 6.33 | 7.08 | 6.60 | 7.62 |
| P/TBV Ratio | 6.04 | 6.58 | 6.61 | 7.39 | 6.92 | 7.99 |
| P/FCF Ratio | 30.52 | 23.32 | 24.10 | 18.92 | 9.81 | 25.89 |
| P/OCF Ratio | 28.06 | 22.30 | 21.49 | 17.68 | 9.40 | 23.72 |
| PEG Ratio | 9.34 | 2.48 | 1.32 | 1.35 | 0.83 | |
| EV/Sales Ratio | 0.87 | 0.99 | 1.19 | 1.24 | 0.78 | 0.99 |
| EV/EBITDA Ratio | 18.26 | 20.61 | 18.92 | 16.57 | 9.32 | 11.72 |
| EV/EBIT Ratio | 21.85 | 25.87 | 23.26 | 19.41 | 10.27 | 12.87 |
| EV/FCF Ratio | 29.26 | 21.89 | 22.51 | 17.91 | 9.78 | 25.58 |
| Debt / Equity Ratio | 0.18 | 0.17 | 0.17 | 0.14 | 0.22 | 0.27 |
| Debt / EBITDA Ratio | 0.60 | 0.59 | 0.54 | 0.33 | 0.31 | 0.41 |
| Debt / FCF Ratio | 0.96 | 0.62 | 0.64 | 0.36 | 0.33 | 0.90 |
| Net Debt / Equity Ratio | -0.24 | -0.40 | -0.41 | -0.41 | -0.22 | -0.03 |
| Net Debt / EBITDA Ratio | -0.79 | -1.39 | -1.33 | -1.03 | -0.32 | -0.04 |
| Net Debt / FCF Ratio | -1.26 | -1.48 | -1.58 | -1.11 | -0.33 | -0.09 |
| Asset Turnover | 3.06 | 2.76 | 2.67 | 2.85 | 3.74 | 3.54 |
| Quick Ratio | 1.73 | 1.69 | 1.93 | 1.97 | 1.61 | 1.49 |
| Current Ratio | 1.79 | 1.75 | 1.96 | 2.00 | 1.64 | 1.51 |
| Return on Equity (ROE) | 18.66% | 13.01% | 20.03% | 28.26% | 49.27% | 49.11% |
| Return on Assets (ROA) | 7.60% | 6.59% | 8.55% | 11.37% | 17.85% | 17.03% |
| Return on Invested Capital (ROIC) | 25.29% | 26.55% | 33.28% | 40.75% | 56.43% | 54.13% |
| Return on Capital Employed (ROCE) | 20.30% | 19.40% | 21.70% | 30.10% | 53.90% | 48.70% |
| Earnings Yield | 3.20% | 2.29% | 3.18% | 3.80% | 7.36% | 5.81% |
| FCF Yield | 3.28% | 4.29% | 4.15% | 5.29% | 10.20% | 3.86% |
| Dividend Yield | 1.19% | 1.06% | 0.79% | 0.65% | 0.68% | 0.53% |
| Payout Ratio | 78.04% | 49.25% | 25.44% | 44.30% | 26.84% | 29.35% |
| Buyback Yield / Dilution | 2.81% | 2.31% | 1.06% | 1.95% | 4.19% | 0.95% |
| Total Shareholder Return | 4.05% | 3.37% | 1.85% | 2.59% | 4.87% | 1.48% |