NYSE · Financial Statements

Covenant Logistics Group, Inc. (CVLG) Financial Statements

$29.19 NYSE: CVLG Market Cap $740.78M

Covenant Logistics Group, Inc. most recently reported annual revenue of $1.2B, net profit of $7.0M. Revenue grew at an average annual rate of 6.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Covenant Logistics Group, Inc.: Revenue rose from $671.0M in 2016 to $1.2B in 2025, a change of +73.5% over 9 years; net profit was positive in 9 of 10 reported years; operating margin moved from 4.8% to 1.2%, a shift of -3.6 percentage points; the most recent year shows net profit of $7.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$671.0M$705.0M$885.0M$885.0M$839.0M$1.0B$1.2B$1.1B$1.1B$1.2B
Operating Expenses$638.0M$677.0M$826.0M$877.0M$853.0M$983.0M$1.1B$1.0B$1.1B$1.2B
Operating Profit$32.0M$28.0M$59.0M$9.0M$-14.0M$63.0M$80.0M$59.0M$45.0M$14.0M
Operating Margin4.8%4.0%6.7%1.0%-1.7%6.1%6.6%5.3%4.0%1.2%
Other Income$-5.0M$-5.0M$3.0M$-1.0M$-3.0M$16.0M$62.0M$13.0M$1.0M$-8.0M
Interest$8.0M$8.0M$9.0M$11.0M$7.0M$3.0M$3.0M$8.0M$14.0M$12.0M
Depreciation$72.0M$72.0M$76.0M$81.0M$65.0M$54.0M$58.0M$70.0M$87.0M$99.0M
Profit Before Tax$27.0M$23.0M$58.0M$8.0M$-17.0M$79.0M$143.0M$72.0M$46.0M$6.0M
Tax$38.1M$-138.0M$26.7M$31.0M$16.6M$26.5M$24.4M$24.4M$23.0M$21.1M
Net Profit$17.0M$55.0M$43.0M$8.0M$-43.0M$61.0M$109.0M$55.0M$36.0M$7.0M
EPS$0.92$3.02$2.30$0.45$-0.81$1.81$3.50$2.00$1.30$0.27
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$289.0M$274.0M$279.0M$287.0M$288.0M$277.0M$269.0M$303.0M$297.0M$295.0M$307.0M$333.0M
Operating Expenses$274.0M$260.0M$274.0M$271.0M$272.0M$269.0M$262.0M$291.0M$289.0M$302.0M$301.0M$324.0M
Operating Profit$15.0M$14.0M$4.0M$16.0M$16.0M$9.0M$8.0M$12.0M$8.0M$-7.0M$7.0M$9.0M
Operating Margin5.2%5.2%1.6%5.7%5.6%3.1%2.8%3.8%2.7%-2.3%2.2%2.8%
Interest$3.0M$2.0M$3.0M$4.0M$3.0M$3.0M$3.0M$2.0M$3.0M$3.0M$4.0M$3.0M
Profit Before Tax$18.0M$17.0M$5.0M$16.0M$17.0M$8.0M$9.0M$13.0M$8.0M$-24.0M$6.0M$11.0M
Tax$25.1M$23.6M$18.2M$24.1M$24.3M$21.1M$23.2M$26.4M$22.1M$25.0M$27.3M$23.3M
Net Profit$14.0M$13.0M$4.0M$12.0M$13.0M$7.0M$7.0M$10.0M$9.0M$-18.0M$4.0M$9.0M
EPS$0.98$0.89$0.14$0.44$0.47$0.24$0.24$0.36$0.34$-0.73$0.17$0.32

Over the 10 years reported for Covenant Logistics Group, Inc., borrowings increased from $216.0M in 2016 to $339.0M in 2025, cash stood at $5.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.11 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$620.0M$650.0M$774.0M$882.0M$677.0M$652.0M$797.0M$954.0M$998.0M$1.0B
Current Assets$135.0M$162.0M$212.0M$254.0M$148.0M$189.0M$223.0M$186.0M$214.0M$233.0M
Cash$8.0M$15.0M$23.0M$44.0M$8.0M$8.0M$69.0M$2.0M$36.0M$5.0M
Inventory$4.0M$4.0M$4.0M$4.0M$3.0M$3.0M$4.0M$5.0M$6.0M$6.0M
Receivables$110.0M$131.0M$169.0M$95.0M$109.0M$161.0M$128.0M$154.0M$152.0M$174.0M
Fixed Assets$465.0M$464.0M$451.0M$517.0M$391.0M$346.0M$408.0M$515.0M$525.0M$513.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$19.0M$20.0M$26.0M$32.0M$34.0M$44.0M$55.0M$66.0M$77.0M$86.0M
Other Assets$0$0$42.0M$43.0M$43.0M$43.0M$58.0M$76.0M$79.0M$80.0M
Total Liabilities$383.0M$354.0M$430.0M$532.0M$386.0M$302.0M$420.0M$551.0M$559.0M$642.0M
Current Liabilities$88.0M$81.0M$127.0M$161.0M$133.0M$143.0M$156.0M$170.0M$181.0M$210.0M
Borrowings$216.0M$214.0M$238.0M$349.0M$112.0M$74.0M$180.0M$293.0M$297.0M$339.0M
Other Liabilities$167.0M$141.0M$193.0M$183.0M$274.0M$228.0M$240.0M$258.0M$262.0M$303.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$236.0M$295.0M$343.0M$350.0M$291.0M$350.0M$377.0M$403.0M$438.0M$404.0M

For Covenant Logistics Group, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $34.0M; free cash flow was positive in 3 of 10 years; financing activities used $43.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$102.0M$83.0M$125.0M$64.0M$63.0M$73.0M$159.0M$85.0M$123.0M$114.0M
Investing Cash Flow$-95.0M$-124.0M$-196.0M$-231.0M$44.0M$-25.0M$-187.0M$-454.0M$-261.0M$-288.0M
Financing Cash Flow$-2.0M$-2.0M$0$-1.0M$-18.0M$-12.0M$-86.0M$-39.0M$-8.0M$-43.0M
Net Cash Flow$3.0M$8.0M$8.0M$20.0M$-35.0M$0$60.0M$-66.0M$33.0M$-31.0M
Free Cash Flow$-10.0M$-28.0M$50.0M$-74.0M$-31.0M$38.0M$59.0M$-133.0M$-30.0M$-34.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-2.53
EV / EBITDA8.77
FCF Yield12.92%
Quick Ratio1.14
Interest Coverage1.24
Return 1Y100.68%
Return 3Y112.19%
Return 5Y393.13%

Covenant Logistics Group, Inc. (CVLG) financials — frequently asked questions

What is Covenant Logistics Group, Inc.'s annual revenue?

Covenant Logistics Group, Inc. (CVLG) reported annual revenue of $1.2B in its most recent fiscal year.

What is Covenant Logistics Group, Inc.'s net profit?

Covenant Logistics Group, Inc. (CVLG) reported net profit of $7.0M in its most recent fiscal year.

What is CVLG EV/EBITDA?

Covenant Logistics Group, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 8.77.

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