NYSE : CVLG
Covenant Logistics Group, Inc. — Financial statements
Industrials · Trucking · United States
Last price 30.92 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 784.68M
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Financial statements
Covenant Logistics Group, Inc. (CVLG) reported revenue of 1.29B 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 | 1.16B | 1.06B | 1.01B | 970.51M | 1.05B | 949.91M |
| Other Revenue | 126.99M | 105.24M | 117.53M | 133.06M | 170.46M | 96.09M |
| Revenue | 1.29B | 1.16B | 1.13B | 1.10B | 1.22B | 1.05B |
| Cost of Revenue | 1.04B | 908.19M | 860.71M | 874.44M | 978.75M | 849.40M |
| Gross Profit | 250.23M | 256.28M | 270.77M | 229.13M | 238.11M | 196.60M |
| Selling, General & Admin | 119.20M | 126.47M | 109.41M | 99.54M | 88.31M | 68.46M |
| Other Operating Expenses | 12.55M | 13.78M | 11.95M | 13.41M | 11.93M | 10.90M |
| Operating Expenses | 226.86M | 232.97M | 207.89M | 182.90M | 157.75M | 133.24M |
| Operating Income | 23.36M | 23.30M | 62.88M | 46.24M | 80.36M | 63.36M |
| Interest Expense | -13.98M | -12.05M | -13.58M | -7.97M | -3.08M | -2.79M |
| Earnings From Equity Investments | 17.69M | 14.71M | 14.71M | 21.38M | 25.19M | 14.78M |
| EBT Excluding Unusual Items | 27.07M | 25.96M | 64.02M | 59.66M | 102.47M | 75.35M |
| Impairment of Goodwill | -10.70M | -10.70M | ||||
| Gain (Loss) on Sale of Assets | -6.39M | -6.83M | -1.63M | 12.59M | 40.32M | 3.80M |
| Other Unusual Items | -2.84M | -2.84M | -16.49M | |||
| Pretax Income | 7.15M | 5.59M | 45.90M | 72.24M | 142.79M | 79.15M |
| Income Tax Expense | 1.74M | 1.18M | 10.58M | 17.61M | 34.86M | 20.96M |
| Earnings From Continuing Operations | 5.40M | 4.41M | 35.32M | 54.63M | 107.93M | 58.19M |
| Earnings From Discontinued Operations | 2.83M | 600.00K | 600.00K | 750.00K | 2.54M | |
| Net Income | 5.40M | 7.24M | 35.92M | 55.23M | 108.68M | 60.73M |
| Net Income to Common | 5.40M | 7.24M | 35.92M | 55.23M | 108.68M | 60.73M |
| Shares Outstanding (Basic) | 25.17M | 25.65M | 26.31M | 26.10M | 30.01M | 33.61M |
| Shares Outstanding (Diluted) | 26.46M | 26.91M | 27.71M | 27.67M | 31.05M | 34.04M |
| EPS (Basic) | 0.21 | 0.28 | 1.37 | 2.12 | 3.62 | 1.81 |
| EPS (Diluted) | 0.20 | 0.27 | 1.30 | 1.99 | 3.50 | 1.78 |
| Free Cash Flow | -33.92M | -30.07M | -132.77M | 58.76M | 37.93M | |
| Free Cash Flow Per Share | -1.26 | -1.08 | -4.80 | 1.89 | 1.11 | |
| Dividend Per Share | 0.07 | 0.28 | 0.22 | 0.22 | 0.14 | |
| Gross Margin | 19.41% | 22.01% | 23.93% | 20.76% | 19.57% | 18.80% |
| Operating Margin | 1.81% | 2.00% | 5.56% | 4.19% | 6.60% | 6.06% |
| Profit Margin | 0.42% | 0.62% | 3.17% | 5.00% | 8.93% | 5.81% |
| Free Cash Flow Margin | -2.91% | -2.66% | -12.03% | 4.83% | 3.63% | |
| EBITDA | 116.68M | 116.03M | 149.41M | 116.18M | 137.87M | 117.24M |
| EBITDA Margin | 9.05% | 9.96% | 13.21% | 10.53% | 11.33% | 11.21% |
| D&A For EBITDA | 93.31M | 92.73M | 86.53M | 69.94M | 57.51M | 53.88M |
| EBIT | 23.36M | 23.30M | 62.88M | 46.24M | 80.36M | 63.36M |
| EBIT Margin | 1.81% | 2.00% | 5.56% | 4.19% | 6.60% | 6.06% |
| Effective Tax Rate | 24.40% | 21.12% | 23.04% | 24.38% | 24.41% | 26.48% |
| Revenue as Reported | 1.29B | 1.16B | 1.13B | 1.10B | 1.22B | 1.05B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.95M | 35.62M | 2.29M | 68.67M | 8.41M | |
| Cash & Short-Term Investments | 2.62M | 4.95M | 35.62M | 2.29M | 68.67M | 8.41M |
| Accounts Receivable | 151.80M | 141.63M | 142.50M | 119.77M | 142.36M | |
| Other Receivables | 11.55M | 6.50M | 6.74M | 4.84M | 10.18M | |
| Receivables | 163.35M | 148.13M | 149.24M | 124.61M | 152.54M | |
| Inventory | 6.34M | 5.65M | 4.85M | 3.52M | 3.32M | |
| Prepaid Expenses | 21.66M | 19.98M | 17.88M | 15.75M | 12.54M | |
| Other Current Assets | 36.52M | 4.47M | 11.68M | 10.12M | 11.72M | |
| Total Current Assets | 232.82M | 213.85M | 185.94M | 222.66M | 188.53M | |
| Property, Plant & Equipment | 512.68M | 524.81M | 514.65M | 407.74M | 346.48M | |
| Long-Term Investments | 85.51M | 77.41M | 66.33M | 54.73M | 44.20M | |
| Goodwill | 80.48M | 78.94M | 75.75M | 58.22M | 42.52M | |
| Other Intangible Assets | 105.61M | 90.13M | 99.61M | 48.17M | 20.48M | |
| Other Long-Term Assets | 28.45M | 12.44M | 12.15M | 5.14M | 9.46M | |
| Total Assets | 1.05B | 997.57M | 954.44M | 796.64M | 651.66M | |
| Accounts Payable | 45.48M | 31.94M | 33.16M | 33.90M | 29.91M | |
| Accrued Expenses | 87.01M | 73.75M | 76.29M | 79.82M | 83.90M | |
| Current Portion of Long-Term Debt | 64.00M | 64.21M | 47.65M | 18.90M | 5.72M | |
| Current Portion of Leases | 13.02M | 11.10M | 12.73M | 23.50M | 22.66M | |
| Other Current Liabilities | 460.00K | 275.00K | 460.00K | 557.00K | ||
| Total Current Liabilities | 209.98M | 181.28M | 170.29M | 156.12M | 142.75M | |
| Long-Term Debt | 234.05M | 187.09M | 196.89M | 90.37M | 20.35M | |
| Long-Term Leases | 27.62M | 34.49M | 36.19M | 46.86M | 25.52M | |
| Long-Term Deferred Tax Liabilities | 119.72M | 117.65M | 116.09M | 98.72M | 84.66M | |
| Other Long-Term Liabilities | 50.18M | 38.72M | 31.55M | 27.45M | 28.69M | |
| Total Liabilities | 641.55M | 559.23M | 551.02M | 419.52M | 301.96M | |
| Common Stock | 266.00K | 265.00K | 185.00K | 185.00K | 185.00K | |
| Additional Paid-In Capital | 159.49M | 158.91M | 155.85M | 152.89M | 149.41M | |
| Retained Earnings | 278.21M | 278.13M | 378.92M | 329.47M | 225.08M | |
| Treasury Stock | -34.58M | -132.35M | -106.50M | -23.66M | ||
| Comprehensive Income & Other | 612.00K | 1.03M | 816.00K | 1.09M | -1.31M | |
| Shareholders' Equity | 412.87M | 404.00M | 438.34M | 403.42M | 377.13M | 349.70M |
| Total Liabilities & Equity | 1.05B | 997.57M | 954.44M | 796.64M | 651.66M | |
| Total Debt | 324.43M | 338.70M | 296.89M | 293.46M | 179.63M | 74.25M |
| Net Cash (Debt) | -321.82M | -333.75M | -261.27M | -291.17M | -110.96M | -65.84M |
| Net Cash Per Share | -12.16 | -12.40 | -9.43 | -10.52 | -3.57 | -1.93 |
| Filing Date Shares Outstanding | 25.38M | 25.08M | 26.55M | 26.14M | 26.48M | 33.64M |
| Total Common Shares Outstanding | 25.38M | 25.07M | 26.47M | 26.14M | 27.12M | 33.53M |
| Working Capital | 22.84M | 32.57M | 15.65M | 66.53M | 45.78M | |
| Book Value Per Share | 16.29 | 16.11 | 16.56 | 15.43 | 13.91 | 10.43 |
| Tangible Book Value | 232.67M | 217.91M | 269.27M | 228.06M | 270.74M | 286.71M |
| Tangible Book Value Per Share | 9.18 | 8.69 | 10.17 | 8.72 | 9.98 | 8.55 |
| Land | 12.54M | 12.41M | 11.75M | 11.72M | 16.34M | |
| Buildings | 95.63M | 97.64M | 104.36M | 96.55M | 72.18M | |
| Machinery | 602.07M | 576.45M | 536.86M | 460.30M | 359.04M | |
| Construction In Progress | 6.75M | 6.40M | 2.97M | 16.08M | 866.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 7.24M | 35.92M | 55.23M | 108.68M | 60.73M | |
| Depreciation & Amortization | 92.73M | 86.53M | 69.94M | 57.51M | 53.88M | |
| Loss (Gain) From Sale of Assets | 3.90M | 1.63M | -12.59M | -40.32M | -3.80M | |
| Asset Writedown & Restructuring Costs | 10.70M | |||||
| Loss (Gain) From Sale of Investments | -12.00K | -40.00K | -16.00K | -39.00K | 52.00K | |
| Loss (Gain) on Equity Investments | -8.09M | -11.04M | -11.58M | -10.49M | -9.88M | |
| Stock-Based Compensation | 3.57M | 3.69M | 7.10M | 6.59M | 9.06M | |
| Provision & Write-off of Bad Debts | -157.00K | -23.00K | -258.00K | 367.00K | 1.34M | |
| Other Operating Activities | 2.78M | 4.48M | 18.70M | 13.97M | 18.35M | |
| Change in Accounts Receivable | -9.71M | 2.75M | -22.42M | 39.47M | -36.54M | |
| Change in Inventory | -678.00K | -800.00K | -317.00K | -193.00K | -204.00K | |
| Change in Accounts Payable | 9.32M | -4.41M | -9.19M | -6.22M | 12.93M | |
| Change in Other Net Operating Assets | 2.42M | 5.39M | -7.54M | -9.56M | -32.36M | |
| Operating Cash Flow | 113.65M | 122.89M | 84.84M | 159.23M | 73.22M | |
| Capital Expenditures | -147.57M | -152.96M | -217.61M | -100.47M | -35.28M | |
| Sale of Property, Plant & Equipment | 35.52M | 50.44M | 91.82M | 53.00M | 44.13M | |
| Cash Acquisitions | -27.05M | -4.56M | -107.93M | -38.50M | ||
| Investment in Securities | -956.00K | -597.00K | -2.20M | -241.00K | 1.50M | |
| Investing Cash Flow | -140.06M | -107.67M | -235.92M | -86.21M | 10.34M | |
| Long-Term Debt Issued | 210.52M | 176.81M | 293.93M | 155.38M | 644.87M | |
| Total Debt Issued | 210.52M | 176.81M | 293.93M | 155.38M | 644.87M | |
| Short-Term Debt Repaid | -216.00K | -1.22M | ||||
| Long-Term Debt Repaid | -164.72M | -146.77M | -164.27M | -77.70M | -715.54M | |
| Total Debt Repaid | -164.72M | -146.77M | -164.27M | -77.91M | -716.75M | |
| Net Debt Issued (Repaid) | 45.80M | 30.04M | 129.66M | 77.46M | -71.88M | |
| Issuance of Common Stock | 399.00K | 1.76M | 236.00K | 384.00K | ||
| Repurchase of Common Stock | -37.97M | -871.00K | -30.22M | -86.33M | -11.68M | |
| Common Dividends Paid | -7.16M | -5.80M | -5.78M | -4.29M | ||
| Other Financing Activities | -5.33M | -7.02M | -9.19M | |||
| Financing Cash Flow | -4.26M | 18.11M | 84.71M | -12.77M | -83.56M | |
| Net Cash Flow | -30.67M | 33.33M | -66.37M | 60.25M | 5.00K | |
| Free Cash Flow | -33.92M | -30.07M | -132.77M | 58.76M | 37.93M | |
| Free Cash Flow Margin | -2.91% | -2.66% | -12.03% | 4.83% | 3.63% | |
| Free Cash Flow Per Share | -1.26 | -1.08 | -4.80 | 1.89 | 1.11 | |
| Levered Free Cash Flow | -66.87M | -30.44M | -150.11M | 37.42M | 36.02M | |
| Unlevered Free Cash Flow | -59.34M | -21.95M | -145.14M | 39.35M | 37.77M | |
| Cash Interest Paid | 13.14M | 5.67M | 5.32M | 3.31M | 2.76M | |
| Cash Income Tax Paid | 4.67M | 7.27M | 4.19M | 16.65M | 10.24M | |
| Change in Working Capital | 1.35M | 2.93M | -39.46M | 23.49M | -56.18M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 784.68M | 552.04M | 718.42M | 596.07M | 466.50M | 441.84M |
| Enterprise Value | 1.11B | 858.46M | 999.71M | 829.60M | 542.20M | 504.68M |
| Last Close Price | 30.92 | 21.91 | 26.77 | 22.41 | 16.65 | 12.60 |
| PE Ratio | 151.42 | 76.26 | 20.00 | 10.79 | 4.29 | 7.28 |
| Forward PE | 12.67 | 12.15 | 11.96 | 11.16 | 7.49 | 7.08 |
| PS Ratio | 0.61 | 0.47 | 0.64 | 0.54 | 0.38 | 0.42 |
| PB Ratio | 1.90 | 1.37 | 1.64 | 1.48 | 1.24 | 1.26 |
| P/TBV Ratio | 3.37 | 2.53 | 2.67 | 2.61 | 1.72 | 1.54 |
| P/FCF Ratio | 7.94 | 11.65 | ||||
| P/OCF Ratio | 9.23 | 4.86 | 5.85 | 7.03 | 2.93 | 6.04 |
| EV/Sales Ratio | 0.86 | 0.74 | 0.88 | 0.75 | 0.45 | 0.48 |
| EV/EBITDA Ratio | 9.48 | 7.40 | 6.69 | 7.14 | 3.93 | 4.30 |
| EV/EBIT Ratio | 47.36 | 36.84 | 15.90 | 17.94 | 6.75 | 7.96 |
| EV/FCF Ratio | 9.23 | 13.30 | ||||
| Debt / Equity Ratio | 0.79 | 0.84 | 0.68 | 0.73 | 0.48 | 0.21 |
| Debt / EBITDA Ratio | 2.78 | 2.46 | 1.77 | 2.05 | 1.04 | 0.53 |
| Debt / FCF Ratio | 3.06 | 1.96 | ||||
| Net Debt / Equity Ratio | 0.78 | 0.83 | 0.60 | 0.72 | 0.29 | 0.19 |
| Net Debt / EBITDA Ratio | 2.76 | 2.88 | 1.75 | 2.51 | 0.81 | 0.56 |
| Net Debt / FCF Ratio | -9.84 | -8.69 | -2.19 | 1.89 | 1.74 | |
| Asset Turnover | 1.14 | 1.16 | 1.26 | 1.68 | 1.57 | |
| Inventory Turnover | 151.49 | 164.01 | 209.10 | 286.23 | 263.71 | |
| Quick Ratio | 0.80 | 1.01 | 0.89 | 1.24 | 1.13 | |
| Current Ratio | 1.11 | 1.18 | 1.09 | 1.43 | 1.32 | |
| Return on Equity (ROE) | 1.05% | 8.39% | 14.00% | 29.70% | 18.18% | |
| Return on Assets (ROA) | 1.43% | 4.03% | 3.30% | 6.94% | 5.96% | |
| Return on Invested Capital (ROIC) | 2.40% | 2.56% | 6.94% | 5.91% | 13.44% | 11.53% |
| Return on Capital Employed (ROCE) | 2.80% | 7.70% | 5.90% | 12.50% | 12.50% | |
| Earnings Yield | 0.66% | 1.31% | 5.00% | 9.27% | 23.30% | 13.74% |
| FCF Yield | -4.82% | -6.14% | -4.18% | -22.27% | 12.60% | 8.58% |
| Dividend Yield | 0.91% | 1.27% | 0.81% | 0.97% | 0.83% | |
| Payout Ratio | 137.12% | 98.94% | 16.13% | 10.47% | 3.94% | |
| Buyback Yield / Dilution | 3.22% | 2.90% | -0.17% | 10.89% | 8.79% | 1.95% |
| Total Shareholder Return | 4.12% | 4.18% | 0.65% | 11.85% | 9.62% | 1.95% |