NASDAQ · Financial Statements

Heartland Express, Inc. (HTLD) Financial Statements

$10.18 NASDAQ: HTLD Market Cap $787.25M

Heartland Express, Inc. most recently reported annual revenue of $806.0M, a net loss of $52.0M. Revenue grew at an average annual rate of 4.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Heartland Express, Inc.: Revenue rose from $613.0M in 2016 to $806.0M in 2025, a change of +31.5% over 9 years; net profit was positive in 8 of 10 reported years; operating margin moved from 14.0% to -7.7%, a shift of -21.6 percentage points; the most recent year shows a net loss of $52.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$613.0M$607.0M$611.0M$597.0M$645.0M$607.0M$968.0M$1.2B$1.0B$806.0M
Operating Expenses$527.0M$544.0M$521.0M$503.0M$552.0M$502.0M$877.0M$1.2B$1.1B$868.0M
Operating Profit$86.0M$64.0M$90.0M$94.0M$93.0M$105.0M$91.0M$1.0M$-28.0M$-62.0M
Operating Margin14.0%10.5%14.7%15.8%14.5%17.4%9.4%0.1%-2.6%-7.7%
Other Income$0$1.0M$2.0M$3.0M$1.0M$1.0M$90.0M$19.0M$-9.0M$-6.0M
Interest$0$0$0$1.0M$0$0$9.0M$24.0M$18.0M$11.0M
Depreciation$106.0M$104.0M$101.0M$101.0M$110.0M$104.0M$133.0M$199.0M$182.0M$159.0M
Profit Before Tax$86.0M$64.0M$92.0M$97.0M$94.0M$106.0M$181.0M$20.0M$-37.0M$-68.0M
Tax$34.5M$-16.6M$20.9M$24.9M$24.9M$25.2M$26.2M$25.6M$19.0M$23.0M
Net Profit$56.0M$75.0M$73.0M$73.0M$71.0M$79.0M$134.0M$15.0M$-30.0M$-52.0M
EPS$0.68$0.90$0.88$0.89$0.87$1.00$1.69$0.19$-0.38$-0.67
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$295.0M$275.0M$270.0M$275.0M$260.0M$243.0M$219.0M$210.0M$197.0M$179.0M$176.0M$184.0M
Operating Expenses$302.0M$265.0M$285.0M$274.0M$267.0M$248.0M$236.0M$226.0M$210.0M$195.0M$187.0M$193.0M
Operating Profit$-7.0M$11.0M$-14.0M$0$-7.0M$-5.0M$-17.0M$-15.0M$-14.0M$-16.0M$-11.0M$-9.0M
Operating Margin-2.5%3.9%-5.3%0.1%-2.8%-2.0%-7.6%-7.2%-7.1%-8.9%-6.0%-4.6%
Interest$6.0M$6.0M$5.0M$5.0M$4.0M$3.0M$3.0M$3.0M$3.0M$3.0M$2.0M$2.0M
Profit Before Tax$-13.0M$5.0M$-19.0M$-4.0M$-11.0M$-2.0M$-18.0M$-15.0M$-10.0M$-25.0M$-5.0M$15.0M
Tax$19.1M$-390,000$21.8M$13.5M$16.6M$16.1M$22.4M$28.5M$16.5M$22.7M$9.0M$29.6M
Net Profit$-11.0M$5.0M$-15.0M$-3.0M$-9.0M$-2.0M$-14.0M$-11.0M$-8.0M$-19.0M$-5.0M$11.0M
EPS$-0.14$0.06$-0.19$-0.04$-0.12$-0.02$-0.18$-0.14$-0.11$-0.25$-0.06$0.14

Over the 10 years reported for Heartland Express, Inc., cash stood at $18.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 1.05 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$738.0M$789.0M$806.0M$899.0M$951.0M$929.0M$1.7B$1.5B$1.3B$1.2B
Current Assets$202.0M$171.0M$233.0M$152.0M$193.0M$233.0M$230.0M$169.0M$129.0M$115.0M
Cash$129.0M$75.0M$161.0M$77.0M$115.0M$158.0M$50.0M$28.0M$13.0M$18.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$52.0M$71.0M$49.0M$57.0M$56.0M$57.0M$143.0M$113.0M$94.0M$75.0M
Fixed Assets$408.0M$443.0M$403.0M$526.0M$539.0M$488.0M$994.0M$903.0M$772.0M$669.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$12.0M$23.0M$18.0M$18.0M$16.0M$15.0M$14.0M$13.0M$13.0M$13.0M
Other Assets$100.0M$135.0M$132.0M$168.0M$168.0M$168.0M$321.0M$323.0M$323.0M$323.0M
Total Liabilities$232.0M$214.0M$190.0M$214.0M$227.0M$201.0M$814.0M$644.0M$512.0M$436.0M
Current Liabilities$66.0M$75.0M$65.0M$63.0M$71.0M$72.0M$157.0M$123.0M$120.0M$110.0M
Borrowings$0$0$0$0$0$0$434.0M$317.0M$209.0M$161.0M
Other Liabilities$232.0M$214.0M$190.0M$214.0M$227.0M$201.0M$380.0M$327.0M$303.0M$275.0M
Equity$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Reserves$506.0M$575.0M$616.0M$685.0M$724.0M$727.0M$855.0M$865.0M$823.0M$755.0M

For Heartland Express, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $67.0M; free cash flow was positive in 3 of 10 years; financing activities used $11.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$156.0M$110.0M$147.0M$146.0M$179.0M$123.0M$195.0M$165.0M$144.0M$89.0M
Investing Cash Flow$-68.0M$-331.0M$-76.0M$-297.0M$-315.0M$-135.0M$-824.0M$-276.0M$-156.0M$-182.0M
Financing Cash Flow$-15.0M$0$-25.0M$-1.0M$-26.0M$-32.0M$0$0$-8.0M$-11.0M
Net Cash Flow$95.0M$-53.0M$77.0M$-87.0M$35.0M$43.0M$-109.0M$-23.0M$-15.0M$5.0M
Free Cash Flow$70.0M$-75.0M$-23.0M$-17.0M$-25.0M$-9.0M$34.0M$-43.0M$35.0M$-67.0M

Valuation & Return Ratios

MetricValue
PEG Ratio3.49
EV / EBITDA9.66
FCF Yield-9.48%
Quick Ratio1.58
Interest Coverage-5.16
Return 1Y72.41%
Return 3Y-8.01%
Return 5Y-8.64%

Heartland Express, Inc. (HTLD) financials — frequently asked questions

What is Heartland Express, Inc.'s annual revenue?

Heartland Express, Inc. (HTLD) reported annual revenue of $806.0M in its most recent fiscal year.

What is Heartland Express, Inc.'s net profit?

Heartland Express, Inc. (HTLD) reported a net loss of $52.0M in its most recent fiscal year.

What is HTLD EV/EBITDA?

Heartland Express, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 9.66.

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