Heartland Express share price today
Heartland Express, Inc. · HTLD · Industrials · Trucking · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists
Heartland Express share price: $10.72 at the close on 4 November 2026, +40.5% in a year.
Heartland Express, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.
Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business.
The price has been between phases. Over the last four quarters, results have been mixed, and 212% of the last 3 years' profit came in as cash. What will decide it: the next one or two quarters of results.
What is the Heartland Express share price today?
Heartland Express, Inc.'s share price was $10.72 at the close on 4 November 2026. That is 12.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between $7 and $16, and at that close it sat 38% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.
Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 15 weeks running.
Nov 2026: $10.72, 12.9% below its 200-day average.
- Price $10.72
- 50-day avg $11.40
- 200-day avg $12.31
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 11 Jul 2025 | $9.22 | – | – |
| 18 Jul 2025 | $8.33 | – | – |
| 25 Jul 2025 | $8.36 | – | – |
| 1 Aug 2025 | $7.53 | – | – |
| 8 Aug 2025 | $7.67 | – | – |
| 15 Aug 2025 | $8.29 | – | – |
| 22 Aug 2025 | $8.76 | – | – |
| 29 Aug 2025 | $8.59 | – | – |
| 5 Sep 2025 | $8.61 | – | – |
| 12 Sep 2025 | $8.47 | – | – |
| 19 Sep 2025 | $8.38 | $8.36 | – |
| 26 Sep 2025 | $8.56 | $8.33 | – |
| 3 Oct 2025 | $8.73 | $8.33 | – |
| 10 Oct 2025 | $7.95 | $8.36 | – |
| 17 Oct 2025 | $8.21 | $8.40 | – |
| 24 Oct 2025 | $8.05 | $8.42 | – |
| 31 Oct 2025 | $7.80 | $8.38 | – |
| 7 Nov 2025 | $7.63 | $8.29 | – |
| 14 Nov 2025 | $7.52 | $8.20 | – |
| 21 Nov 2025 | $7.46 | $8.07 | – |
| 28 Nov 2025 | $7.86 | $8.01 | – |
| 5 Dec 2025 | $9.07 | $8.03 | – |
| 12 Dec 2025 | $9.48 | $8.11 | – |
| 19 Dec 2025 | $8.98 | $8.18 | – |
| 26 Dec 2025 | $9.20 | $8.27 | – |
| 2 Jan 2026 | $9.15 | $8.33 | – |
| 9 Jan 2026 | $10.48 | $8.55 | – |
| 16 Jan 2026 | $10.39 | $8.83 | – |
| 23 Jan 2026 | $10.57 | $9.05 | – |
| 30 Jan 2026 | $10.09 | $9.32 | – |
| 6 Feb 2026 | $11.47 | $9.72 | – |
| 13 Feb 2026 | $11.28 | $10.07 | – |
| 20 Feb 2026 | $11.76 | $10.28 | – |
| 27 Feb 2026 | $11.03 | $10.44 | – |
| 6 Mar 2026 | $10.15 | $10.61 | – |
| 13 Mar 2026 | $9.53 | $10.67 | – |
| 20 Mar 2026 | $9.65 | $10.65 | – |
| 27 Mar 2026 | $10.22 | $10.63 | – |
| 2 Apr 2026 | $10.64 | $10.63 | – |
| 10 Apr 2026 | $11.01 | $10.68 | – |
| 17 Apr 2026 | $11.63 | $10.72 | – |
| 24 Apr 2026 | $13.03 | $10.76 | $9.28 |
| 1 May 2026 | $13.47 | $10.95 | $9.39 |
| 8 May 2026 | $13.22 | $11.14 | $9.49 |
| 15 May 2026 | $13.30 | $11.31 | $9.61 |
| 22 May 2026 | $14.35 | $11.72 | $9.76 |
| 29 May 2026 | $14.99 | $12.15 | $9.91 |
| 5 Jun 2026 | $15.74 | $12.71 | $10.09 |
| 12 Jun 2026 | $16.11 | $13.28 | $10.28 |
| 18 Jun 2026 | $14.44 | $13.62 | $10.41 |
| 26 Jun 2026 | $15.51 | $14.01 | $10.57 |
| 2 Jul 2026 | $14.90 | $14.30 | $10.70 |
| 10 Jul 2026 | $14.80 | $14.52 | $10.86 |
| 17 Jul 2026 | $15.39 | $14.71 | $11.02 |
| 24 Jul 2026 | $14.28 | $14.92 | $11.18 |
| 31 Jul 2026 | $12.23 | $14.90 | $11.30 |
| 7 Aug 2026 | $12.34 | $14.70 | $11.41 |
| 14 Aug 2026 | $12.79 | $14.40 | $11.51 |
| 21 Aug 2026 | $12.84 | $14.08 | $11.63 |
| 28 Aug 2026 | $12.18 | $13.76 | $11.75 |
| 4 Sep 2026 | $12.44 | $13.51 | $11.86 |
| 11 Sep 2026 | $12.34 | $13.26 | $11.97 |
| 18 Sep 2026 | $11.87 | $12.99 | $12.07 |
| 25 Sep 2026 | $11.30 | $12.65 | $12.14 |
| 2 Oct 2026 | $11.90 | $12.30 | $12.20 |
| 9 Oct 2026 | $11.12 | $12.09 | $12.25 |
| 16 Oct 2026 | $10.95 | $11.95 | $12.30 |
| 23 Oct 2026 | $10.18 | $11.76 | $12.31 |
| 30 Oct 2026 | $10.22 | $11.52 | $12.31 |
| 4 Nov 2026 | $10.72 | $11.40 | $12.31 |
Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?
Ahead in 33 of 57 weeks
| Week | 13-week return vs S&P 500 |
|---|---|
| 11 Jul 2025 | no S&P 500 reading |
| 18 Jul 2025 | no S&P 500 reading |
| 25 Jul 2025 | no S&P 500 reading |
| 1 Aug 2025 | no S&P 500 reading |
| 8 Aug 2025 | no S&P 500 reading |
| 15 Aug 2025 | no S&P 500 reading |
| 22 Aug 2025 | no S&P 500 reading |
| 29 Aug 2025 | no S&P 500 reading |
| 5 Sep 2025 | no S&P 500 reading |
| 12 Sep 2025 | no S&P 500 reading |
| 19 Sep 2025 | no S&P 500 reading |
| 26 Sep 2025 | no S&P 500 reading |
| 3 Oct 2025 | no S&P 500 reading |
| 10 Oct 2025 | −18.5% |
| 17 Oct 2025 | −7.3% |
| 24 Oct 2025 | −10.0% |
| 31 Oct 2025 | −6.1% |
| 7 Nov 2025 | −5.8% |
| 14 Nov 2025 | −13.7% |
| 21 Nov 2025 | −17.0% |
| 28 Nov 2025 | −14.4% |
| 5 Dec 2025 | −0.6% |
| 12 Dec 2025 | +8.2% |
| 19 Dec 2025 | +4.6% |
| 26 Dec 2025 | +3.2% |
| 2 Jan 2026 | +2.7% |
| 9 Jan 2026 | +25.5% |
| 16 Jan 2026 | +22.4% |
| 23 Jan 2026 | +29.5% |
| 30 Jan 2026 | +27.9% |
| 6 Feb 2026 | +47.4% |
| 13 Feb 2026 | +48.5% |
| 20 Feb 2026 | +53.0% |
| 27 Feb 2026 | +40.0% |
| 6 Mar 2026 | +13.8% |
| 13 Mar 2026 | +3.4% |
| 20 Mar 2026 | +12.2% |
| 27 Mar 2026 | +19.2% |
| 2 Apr 2026 | +20.3% |
| 10 Apr 2026 | +7.2% |
| 17 Apr 2026 | +9.3% |
| 24 Apr 2026 | +19.7% |
| 1 May 2026 | +29.4% |
| 8 May 2026 | +8.5% |
| 15 May 2026 | +9.5% |
| 22 May 2026 | +13.9% |
| 29 May 2026 | +25.6% |
| 5 Jun 2026 | +45.4% |
| 12 Jun 2026 | +57.0% |
| 18 Jun 2026 | +34.5% |
| 26 Jun 2026 | +36.8% |
| 2 Jul 2026 | +26.5% |
| 10 Jul 2026 | +23.3% |
| 17 Jul 2026 | +27.7% |
| 24 Jul 2026 | +6.1% |
| 31 Jul 2026 | −12.9% |
| 7 Aug 2026 | −11.5% |
| 14 Aug 2026 | −8.9% |
| 21 Aug 2026 | −13.2% |
| 28 Aug 2026 | −20.4% |
| 4 Sep 2026 | −25.4% |
| 11 Sep 2026 | −26.4% |
| 18 Sep 2026 | −19.8% |
| 25 Sep 2026 | −33.0% |
| 2 Oct 2026 | −23.5% |
| 9 Oct 2026 | −28.0% |
| 16 Oct 2026 | −31.5% |
| 23 Oct 2026 | −31.6% |
| 30 Oct 2026 | −17.6% |
| 4 Nov 2026 | −12.3% |
Over the last 1 year the share price moved +16% while the S&P 500 moved +23%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 24 July 2026. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What dividend does Heartland Express pay?
Heartland Express, Inc. paid $0.08 per share over the last four reported quarters. The most recent declaration was $0.02 for Sep 2026. At today's price of $10.72 that is a yield of 0.75%, based on dividends already paid, not a forecast.
A dividend is cash paid out for each share. The 12-month total is the four most recent quarters added together.
Dividend per share each quarter: latest $0.02 (Sep 2026)
- Dividend per share $0.02
| Quarter | Dividend per share |
|---|---|
| Dec 2023 | $0.02 |
| Mar 2024 | $0.02 |
| Jun 2024 | $0.02 |
| Sep 2024 | $0.02 |
| Dec 2024 | $0.02 |
| Mar 2025 | $0.02 |
| Jun 2025 | $0.02 |
| Sep 2025 | $0.02 |
| Dec 2025 | $0.02 |
| Mar 2026 | $0.02 |
| Jun 2026 | $0.02 |
| Sep 2026 | $0.02 |
Which stock lists is Heartland Express on?
Heartland Express is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list.
Is Heartland Express profitable?
Heartland Express, Inc. earned $959 K of net profit in the Sep 2026 quarter. The full FY25 year was a loss of $52.5 M. That is 0.5% of the quarter's revenue. The same quarter a year earlier lost $8.3 M. 9 of the last 12 reported quarters were loss-making.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
FY25 profit −$52.5 M
- Net profit −$52.5 M
| Quarter | Net profit |
|---|---|
| FY21 | $79.3 M |
| FY22 | $134 M |
| FY23 | $14.8 M |
| FY24 | −$29.7 M |
| FY25 | −$52.5 M |
Growth on a year earlier
- Growth on a year earlier −301.2%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | 68.5% |
| FY23 | −88.9% |
| FY24 | −301.2% |
| FY25 | – |
Sep 2026: $1.0 M
- Net profit (quarterly) $1.0 M
| Quarter | Net profit (quarterly) |
|---|---|
| Dec 2023 | $5.1 M |
| Mar 2024 | −$15.1 M |
| Jun 2024 | −$3.5 M |
| Sep 2024 | −$9.3 M |
| Dec 2024 | −$1.9 M |
| Mar 2025 | −$13.9 M |
| Jun 2025 | −$10.9 M |
| Sep 2025 | −$8.3 M |
| Dec 2025 | −$19.4 M |
| Mar 2026 | −$4.8 M |
| Jun 2026 | $10.6 M |
| Sep 2026 | $1.0 M |
Growth on a year earlier
- Growth on a year earlier −136.4%
| Quarter | Growth on a year earlier |
|---|---|
| Dec 2023 | −67.1% |
| Mar 2024 | −219.8% |
| Jun 2024 | −144.8% |
| Sep 2024 | – |
| Dec 2024 | −136.4% |
| Mar 2025 | – |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | – |
| Mar 2026 | – |
| Jun 2026 | – |
| Sep 2026 | – |
How much revenue does Heartland Express make, and is it growing?
Heartland Express, Inc. reported $180 M of revenue in the Sep 2026 quarter, −8.7% on the same quarter a year earlier. Over 4 years it has grown 7.3% a year on average. The last full year, FY25, came in at $806 M. The last four reported quarters add to $719 M.
Revenue is everything the company billed its customers in the period.
FY25 revenue was $806 M, −23.1% on the year before.
FY25 revenue $806 M (−23.1% on the year before), 7.3% a year over 4 years
- Revenue $806 M
| Quarter | Revenue |
|---|---|
| FY21 | $607 M |
| FY22 | $968 M |
| FY23 | $1.2 B |
| FY24 | $1.0 B |
| FY25 | $806 M |
Growth on a year earlier
- Growth on a year earlier −23.1%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | 59.4% |
| FY23 | 24.7% |
| FY24 | −13.2% |
| FY25 | −23.1% |
Sep 2026: $180 M (−8.7% on a year earlier)
- Revenue (quarterly) $180 M
| Quarter | Revenue (quarterly) |
|---|---|
| Dec 2023 | $275 M |
| Mar 2024 | $270 M |
| Jun 2024 | $275 M |
| Sep 2024 | $260 M |
| Dec 2024 | $243 M |
| Mar 2025 | $219 M |
| Jun 2025 | $210 M |
| Sep 2025 | $197 M |
| Dec 2025 | $179 M |
| Mar 2026 | $176 M |
| Jun 2026 | $184 M |
| Sep 2026 | $180 M |
Growth on a year earlier
- Growth on a year earlier −8.7%
| Quarter | Growth on a year earlier |
|---|---|
| Dec 2023 | −22.4% |
| Mar 2024 | −18.3% |
| Jun 2024 | −10.3% |
| Sep 2024 | −11.9% |
| Dec 2024 | −11.9% |
| Mar 2025 | −18.8% |
| Jun 2025 | −23.4% |
| Sep 2025 | −24.4% |
| Dec 2025 | −26.1% |
| Mar 2026 | −19.7% |
| Jun 2026 | −12.5% |
| Sep 2026 | −8.7% |
Recent pace: the last four quarters grew −16.8% on average, against 7.3% a year over the longer run, so this year is growing slower than its own long-run rate.
Is growth speeding up? Revenue over the last 12 months grew −17.2%, against −18.4% a year over the last 8 quarters (stabilising).
How much of every $100 of sales does Heartland Express keep?
Heartland Express, Inc.'s operating margin was −3.1% in the Sep 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Across 5 years it has been between −7.7% and 11.2%. The latest quarter is within that range.
Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why the margin moved: operating margin changed +4.0 percentage points on the year while gross margin changed −2.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
FY25: −7.7%, within a range of −7.7% to 11.2% over 5 years
- Operating margin −7.7%
| Quarter | Operating margin |
|---|---|
| FY21 | 11.2% |
| FY22 | 9.4% |
| FY23 | 0.1% |
| FY24 | −2.6% |
| FY25 | −7.7% |
Change on the year before (points)
- Change on the year before (points) −5.1 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY21 | – |
| FY22 | −1.8 pts |
| FY23 | −9.3 pts |
| FY24 | −2.7 pts |
| FY25 | −5.1 pts |
Sep 2026: operating margin −3.1% (+4.0 points on a year earlier)
- Operating margin −3.1%
| Quarter | Operating margin |
|---|---|
| Dec 2023 | −5.3% |
| Mar 2024 | −5.3% |
| Jun 2024 | −0.3% |
| Sep 2024 | −2.9% |
| Dec 2024 | −2.1% |
| Mar 2025 | −7.6% |
| Jun 2025 | −7.2% |
| Sep 2025 | −7.1% |
| Dec 2025 | −8.9% |
| Mar 2026 | −6% |
| Jun 2026 | −4.6% |
| Sep 2026 | −3.1% |
Change on a year earlier (points)
- Change on a year earlier (points) +4.0 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Dec 2023 | −11.5 pts |
| Mar 2024 | −10.2 pts |
| Jun 2024 | −3.0 pts |
| Sep 2024 | 0.0 pts |
| Dec 2024 | +3.2 pts |
| Mar 2025 | −2.3 pts |
| Jun 2025 | −6.9 pts |
| Sep 2025 | −4.2 pts |
| Dec 2025 | −6.8 pts |
| Mar 2026 | +1.6 pts |
| Jun 2026 | +2.6 pts |
| Sep 2026 | +4.0 pts |
Is Heartland Express' profit turning into cash?
Over the last 3 years, 212% of Heartland Express, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $89.3 M of operating cash against −$52.5 M of profit.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
After $156 M of spending on assets, free cash was −$66.9 M: it spent more than its operations brought in.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY25: operating cash $89.3 M against profit −$52.5 M; 212% of 3 years' profit came in as cash
- Operating cash $89.3 M
- Net profit −$52.5 M
- Free cash −$66.9 M
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY21 | $123 M | $79.3 M | −$9.2 M |
| FY22 | $195 M | $134 M | $34.1 M |
| FY23 | $165 M | $14.8 M | −$43.3 M |
| FY24 | $144 M | −$29.7 M | $34.8 M |
| FY25 | $89.3 M | −$52.5 M | −$66.9 M |
Jun 2026: operating cash $12.9 M = 122% of the quarter's profit
- Operating cash (quarterly) $12.9 M
| Quarter | Operating cash (quarterly) |
|---|---|
| Sep 2023 | $27.2 M |
| Dec 2023 | $40.8 M |
| Mar 2024 | $31.0 M |
| Jun 2024 | $40.0 M |
| Sep 2024 | $35.6 M |
| Dec 2024 | $37.8 M |
| Mar 2025 | $25.8 M |
| Jun 2025 | $21.0 M |
| Sep 2025 | $27.5 M |
| Dec 2025 | $14.9 M |
| Mar 2026 | $23.2 M |
| Jun 2026 | $12.9 M |
Operating cash as % of profit
- Operating cash as % of profit 122%
| Quarter | Operating cash as % of profit |
|---|---|
| Sep 2023 | – |
| Dec 2023 | 801% |
| Mar 2024 | – |
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | – |
| Mar 2026 | – |
| Jun 2026 | 122% |
Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.
What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.
Where does Heartland Express' cash go?
Heartland Express, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $474 M on assets over the last 3 years. Averaged over those years that is 19.6% of FY25 revenue a year.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.
Spending on assets: $474 M over the last 3 years.
FY25: capex $156 M, steady spending
- Capex $156 M
| Quarter | Capex |
|---|---|
| FY21 | $133 M |
| FY22 | $161 M |
| FY23 | $209 M |
| FY24 | $110 M |
| FY25 | $156 M |
Jun 2026: capex $47.4 M in the quarter
- Capex (quarterly) $47.4 M
| Quarter | Capex (quarterly) |
|---|---|
| Sep 2023 | $68.8 M |
| Dec 2023 | $31.7 M |
| Mar 2024 | $4.7 M |
| Jun 2024 | $10.5 M |
| Sep 2024 | $11.0 M |
| Dec 2024 | $83.3 M |
| Mar 2025 | $23.6 M |
| Jun 2025 | $33.8 M |
| Sep 2025 | $39.7 M |
| Dec 2025 | $59.1 M |
| Mar 2026 | $18.0 M |
| Jun 2026 | $47.4 M |
Free cash
- Free cash −$34.6 M
| Quarter | Free cash |
|---|---|
| Sep 2023 | −$41.6 M |
| Dec 2023 | $9.1 M |
| Mar 2024 | $26.3 M |
| Jun 2024 | $29.4 M |
| Sep 2024 | $24.6 M |
| Dec 2024 | −$45.5 M |
| Mar 2025 | $2.3 M |
| Jun 2025 | −$12.8 M |
| Sep 2025 | −$12.2 M |
| Dec 2025 | −$44.2 M |
| Mar 2026 | $5.1 M |
| Jun 2026 | −$34.6 M |
In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.
What is Heartland Express' P/E ratio, and how does it compare with its own history?
Heartland Express, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Heartland Express, Inc. at 1.0× its FY25 revenue of $806 M. The P/E comes back here once profit turns positive.
P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.
PEG 12.10 at the Sep 2026 quarter end: above 1.0, so the P/E is bigger than the earnings growth rate
- PEG 6.00×
- PEG = 1.0 1.00×
| Quarter | PEG | PEG = 1.0 |
|---|---|---|
| Sep 2021 | 1.90× | 1.00× |
| Dec 2021 | 1.90× | 1.00× |
| Mar 2022 | 1.90× | 1.00× |
| Jun 2022 | 1.90× | 1.00× |
| Sep 2022 | 5.43× | 1.00× |
| Dec 2022 | 6.00× | 1.00× |
| Mar 2023 | 6.00× | 1.00× |
| Jun 2023 | 2.11× | 1.00× |
| Sep 2023 | 3.19× | 1.00× |
| Dec 2023 | 6.00× | 1.00× |
| Mar 2024 | 6.00× | 1.00× |
| Jun 2024 | 6.00× | 1.00× |
| Sep 2024 | 6.00× | 1.00× |
| Dec 2024 | 6.00× | 1.00× |
| Mar 2025 | 6.00× | 1.00× |
| Jun 2025 | 6.00× | 1.00× |
| Sep 2025 | 6.00× | 1.00× |
| Dec 2025 | 6.00× | 1.00× |
| Mar 2026 | 6.00× | 1.00× |
| Jun 2026 | 6.00× | 1.00× |
| Sep 2026 | 6.00× | 1.00× |
Is the Heartland Express business getting better or worse?
Heartland Express, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue −23.1% in FY25
- Revenue growth −23.1%
| Quarter | Revenue growth |
|---|---|
| FY21 | – |
| FY22 | 59.4% |
| FY23 | 24.7% |
| FY24 | −13.2% |
| FY25 | −23.1% |
Profit growth, EPS growth
- Profit growth −300%
- EPS growth −300%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY21 | – | – |
| FY22 | 68.5% | 69.6% |
| FY23 | −88.9% | −88.9% |
| FY24 | −300% | −300% |
| FY25 | – | – |
Three growth lines over twelve quarters: revenue stabilising
- Revenue −17.2%
| Quarter | Revenue |
|---|---|
| Dec 2023 | 24.7% |
| Mar 2024 | −0.1% |
| Jun 2024 | −11.9% |
| Sep 2024 | −16.1% |
| Dec 2024 | −13.2% |
| Mar 2025 | −13.1% |
| Jun 2025 | −16.4% |
| Sep 2025 | −19.6% |
| Dec 2025 | −23.1% |
| Mar 2026 | −23.5% |
| Jun 2026 | −21% |
| Sep 2026 | −17.2% |
Profit, EPS
- Profit −300%
- EPS −300%
| Quarter | Profit | EPS |
|---|---|---|
| Dec 2023 | −88.9% | −89.1% |
| Mar 2024 | −110% | −110.3% |
| Jun 2024 | −140.1% | −141% |
| Sep 2024 | −190.5% | −194.3% |
| Dec 2024 | −300% | −300% |
| Mar 2025 | – | – |
| Jun 2025 | – | – |
| Sep 2025 | – | – |
| Dec 2025 | – | – |
| Mar 2026 | – | – |
| Jun 2026 | – | – |
| Sep 2026 | – | – |
ROCE: the return line, worked out each quarter
- ROCE −4%
| Quarter | ROCE |
|---|---|
| Dec 2023 | 0.1% |
| Mar 2024 | −2.1% |
| Jun 2024 | −2.8% |
| Sep 2024 | −2.8% |
| Dec 2024 | −2.1% |
| Mar 2025 | −2.4% |
| Jun 2025 | −3.7% |
| Sep 2025 | −4.3% |
| Dec 2025 | −5.4% |
| Mar 2026 | −4.9% |
| Jun 2026 | −4.4% |
| Sep 2026 | −4% |
Why it matters: with too little history, we say so rather than guess a direction.
There are fewer than eight usable quarters, so this page does not guess a direction from so little history.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | −23.1% | −5.9% | — | — |
| Stock price | +40.5% | — | — | — |
How much does Heartland Express earn on its capital?
Heartland Express, Inc. earned a ROE of −7% in FY25. Its return on capital used (ROIC) is 16.1 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −6.5% net margin and 0.68× asset turnover (sales divided by assets).
Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.
Why the return is what it is (FY25): a −6.5% net margin × 0.68× asset turnover × 1.58× leverage (assets divided by equity) ≈ −7.0% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.
The key test, return on capital used minus the cost of capital: −4.9% − 11.2% = −16.1 percentage points. The 11.2% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.
The −4.9% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at −6.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY25: ROE −7%, the full history
- ROE −6.9%
- ROIC (annual) −6.5%
- Cost of capital 11.2%
| Quarter | ROE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY21 | 10.9% | 8.6% | 11.2% |
| FY22 | 15.6% | 7.5% | 11.2% |
| FY23 | 1.7% | 0.1% | 11.2% |
| FY24 | −3.6% | −2.6% | 11.2% |
| FY25 | −6.9% | −6.5% | 11.2% |
Sep 2026: ROIC −5.2% (last 12 months) against a 11.2% cost of capital
- ROIC (12 months) −5.2%
- ROE (12 months) −11.4%
- Cost of capital 11.2%
| Quarter | ROIC (12 months) | ROE (12 months) | Cost of capital |
|---|---|---|---|
| Dec 2023 | 2.1% | 11.9% | 11.2% |
| Mar 2024 | −0.4% | 7% | 11.2% |
| Jun 2024 | −2.7% | −6% | 11.2% |
| Sep 2024 | −3.3% | −11.3% | 11.2% |
| Dec 2024 | −3.3% | −10.9% | 11.2% |
| Mar 2025 | −2.6% | −14.2% | 11.2% |
| Jun 2025 | −3% | −13.9% | 11.2% |
| Sep 2025 | −4.5% | −17.6% | 11.2% |
| Dec 2025 | −5.3% | −17.3% | 11.2% |
| Mar 2026 | −6.6% | −26.6% | 11.2% |
| Jun 2026 | −6.1% | −22.4% | 11.2% |
| Sep 2026 | −5.2% | −11.4% | 11.2% |
Does Heartland Express have too much debt?
Heartland Express, Inc. has total debt of $114 M against shareholder equity of $754 M as of Sep 2026, so its debt is 0.15× its equity, which is very little. Year by year, that ratio went from 0.51 in FY22 to 0.21 in FY25. So the returns on this page come from the business, not from borrowed money.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY25: debt $161 M, 0.21× equity
- Total debt $161 M
| Quarter | Total debt |
|---|---|
| FY22 | $434 M |
| FY23 | $317 M |
| FY24 | $209 M |
| FY25 | $161 M |
Debt-to-equity
- Debt-to-equity 0.21×
| Quarter | Debt-to-equity |
|---|---|
| FY22 | 0.51× |
| FY23 | 0.37× |
| FY24 | 0.25× |
| FY25 | 0.21× |
Sep 2026: debt $114 M, debt-to-equity 0.15
- Total debt (quarterly) $114 M
| Quarter | Total debt (quarterly) |
|---|---|
| Dec 2023 | $317 M |
| Mar 2024 | $278 M |
| Jun 2024 | $249 M |
| Sep 2024 | $216 M |
| Dec 2024 | $209 M |
| Mar 2025 | $206 M |
| Jun 2025 | $198 M |
| Sep 2025 | $188 M |
| Dec 2025 | $161 M |
| Mar 2026 | $153 M |
| Jun 2026 | $146 M |
| Sep 2026 | $114 M |
Debt-to-equity
- Debt-to-equity 0.15×
| Quarter | Debt-to-equity |
|---|---|
| Dec 2023 | 0.37× |
| Mar 2024 | 0.33× |
| Jun 2024 | 0.30× |
| Sep 2024 | 0.26× |
| Dec 2024 | 0.25× |
| Mar 2025 | 0.25× |
| Jun 2025 | 0.25× |
| Sep 2025 | 0.24× |
| Dec 2025 | 0.21× |
| Mar 2026 | 0.20× |
| Jun 2026 | 0.19× |
| Sep 2026 | 0.15× |
What is the Heartland Express shareholding pattern?
6.3% of Heartland Express, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 4.5 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.
There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.
It is a single reading at one point in time; we do not have its history.
Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.
How far is Heartland Express from balance-sheet trouble?
For Heartland Express, Inc., the Z-score is 3.11. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
Why it matters: a Z-score of 3.11 is well clear of the danger zone, so the balance sheet is not the risk here.
How does Heartland Express rank in its industry?
37.0 out of 100, rank 12 of 14 in Trucking, with 67% of the evidence available.
Heartland Express, Inc. scores 37.0 out of 100 against the 14 companies it is compared with in Trucking, ranking 12. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
The four parts add up to the total exactly: 17.6 + 4.2 + 11.3 + 3.9 = 37. This is the same number shown on the industry page; it is worked out once for the whole group and read here.
What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.
Which companies is Heartland Express compared with?
Heartland Express ranks 12 of 14 Trucking companies on the 4-Factor Sector Score, with 37.0 out of 100.
- 1ArcBest CorporationARCB · turning · Evidence leans up · 81% evidence57.1out of 100
How the score adds up
Growth & earnings 15.4/35 · Revenue 3.7% · Profit -89.9% · Operating margin change 2 points · 83% evidenceCapital efficiency 11.1/25 · ROCE 6.4% · Operating margin 5.4% · 76% evidenceValuation 14.9/20 · P/E 16.3× · PEG 0.41 · 65% evidenceRelative strength 15.7/20 · Lead over its industry 12.2% · Lead over S&P 500 13.8% · 1 year 107.9% · 100% evidence · 1 of 12 weeks aheadExact sum: 15.4 + 11.1 + 14.9 + 15.7 = 57.1 · What this means: Relative strength against the index is 13.8%, and revenue and profit growth are weak. - 2XPO, Inc.XPO · quiet · Evidence leans up · 81% evidence56.2out of 100
How the score adds up
Growth & earnings 25.7/35 · Revenue 7% · Profit 17.1% · Operating margin change 2.3 points · 83% evidenceCapital efficiency 16.6/25 · ROCE 13% · Operating margin 12.3% · 76% evidenceValuation 5.8/20 · P/E 59.7× · PEG 3.67 · 65% evidenceRelative strength 8.1/20 · Lead over its industry -7.8% · Lead over S&P 500 -5.3% · 1 year 33.6% · 100% evidence · 0 of 12 weeks aheadExact sum: 25.7 + 16.6 + 5.8 + 8.1 = 56.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. - 3Universal Logistics Holdings, Inc.ULH · leader · Too little evidence to rank firmly · 58% evidence52.7out of 100
How the score adds up
Growth & earnings 12.7/35 · Revenue — · Profit — · Operating margin change -0.8 points · 45% evidenceCapital efficiency 9.2/25 · ROCE 2.4% · Operating margin 1% · 76% evidenceValuation 10.8/20 · P/E -4.2× · PEG — · 15% evidenceRelative strength 20.0/20 · Lead over its industry 69.2% · Lead over S&P 500 76% · 1 year 116.5% · 100% evidence · 9 of 12 weeks aheadExact sum: 12.7 + 9.2 + 10.8 + 20 = 52.7 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. - 4Knight-Swift Transportation Holdings Inc.KNX · quiet · Evidence leans up · 75% evidence51.4out of 100
How the score adds up
Growth & earnings 25.1/35 · Revenue 7% · Profit 7.8% · Operating margin change 4.8 points · 95% evidenceCapital efficiency 10.7/25 · ROCE 3.4% · Operating margin 8.2% · 76% evidenceValuation 9.2/20 · P/E 67.5× · PEG — · 15% evidenceRelative strength 6.4/20 · Lead over its industry -9.5% · Lead over S&P 500 -7.1% · 1 year 34.6% · 100% evidence · 0 of 12 weeks aheadExact sum: 25.1 + 10.7 + 9.2 + 6.4 = 51.4 · What this means: Earnings are strong; relative strength in its sector is -9.5% and the one-year return is 34.6%. - 5Old Dominion Freight Line, Inc.ODFL · quiet · Evidence leans down · 81% evidence49.9out of 100
How the score adds up
Growth & earnings 19.0/35 · Revenue -0.6% · Profit -0.6% · Operating margin change 3.3 points · 83% evidenceCapital efficiency 21.6/25 · ROCE 27.5% · Operating margin 28.8% · 76% evidenceValuation 5.6/20 · P/E 41.4× · PEG 4.62 · 65% evidenceRelative strength 3.7/20 · Lead over its industry -14.7% · Lead over S&P 500 -12.4% · 1 year 28.2% · 100% evidence · 0 of 12 weeks aheadExact sum: 19 + 21.6 + 5.6 + 3.7 = 49.9 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. - 6Saia, Inc.SAIA · turning · Evidence leans down · 81% evidence48.3out of 100
How the score adds up
Growth & earnings 15.3/35 · Revenue 4.8% · Profit -4.1% · Operating margin change 0.9 points · 83% evidenceCapital efficiency 16.5/25 · ROCE 10.8% · Operating margin 13.1% · 76% evidenceValuation 7.6/20 · P/E 40.3× · PEG 2.76 · 65% evidenceRelative strength 8.9/20 · Lead over its industry -12% · Lead over S&P 500 -9.5% · 1 year 28.1% · 100% evidence · 0 of 12 weeks aheadExact sum: 15.3 + 16.5 + 7.6 + 8.9 = 48.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 7Covenant Logistics Group, Inc.CVLG · quiet · Evidence leans down · 81% evidence47.4out of 100
How the score adds up
Growth & earnings 10.7/35 · Revenue 8.4% · Profit -89.2% · Operating margin change -1.4 points · 83% evidenceCapital efficiency 9.6/25 · ROCE 2.3% · Operating margin 2.8% · 76% evidenceValuation 13.7/20 · P/E 293.3× · PEG 0.21 · 65% evidenceRelative strength 13.4/20 · Lead over its industry -0.9% · Lead over S&P 500 0.6% · 1 year 73% · 100% evidence · 0 of 12 weeks aheadExact sum: 10.7 + 9.6 + 13.7 + 13.4 = 47.4 · What this means: Relative strength against the index is 0.6%, and revenue and profit growth are weak. - 8RXO, Inc.RXO · turning · Evidence leans down · 64% evidence47.4out of 100
How the score adds up
Growth & earnings 15.2/35 · Revenue 9.5% · Profit — · Operating margin change 0 points · 62% evidenceCapital efficiency 4.7/25 · ROCE -0.6% · Operating margin 0.7% · 76% evidenceValuation 8.5/20 · P/E 680.4× · PEG — · 15% evidenceRelative strength 19.0/20 · Lead over its industry 34% · Lead over S&P 500 36.1% · 1 year 127.4% · 100% evidence · 4 of 12 weeks aheadExact sum: 15.2 + 4.7 + 8.5 + 19 = 47.4 · What this means: Relative strength against the index is 36.1%, and revenue and profit growth are weak. - 9TFI International Inc.TFII · quiet · Evidence leans down · 71% evidence39.8out of 100
How the score adds up
Growth & earnings 14.7/35 · Revenue -1.7% · Profit -8.7% · Operating margin change 1.1 points · 83% evidenceCapital efficiency 14.8/25 · ROCE 9.4% · Operating margin 9.3% · 76% evidenceValuation 10.3/20 · P/E 35.2× · PEG — · 15% evidenceRelative strength 0.0/20 · Lead over its industry -25.3% · Lead over S&P 500 -23.4% · 1 year 14.8% · 100% evidence · 0 of 12 weeks aheadExact sum: 14.7 + 14.8 + 10.3 + 0 = 39.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 10Schneider National, Inc.SNDR · quiet · Evidence leans down · 81% evidence39.0out of 100
How the score adds up
Growth & earnings 17.2/35 · Revenue 6.2% · Profit -11.9% · Operating margin change 0.7 points · 83% evidenceCapital efficiency 12.3/25 · ROCE 4.1% · Operating margin 4.6% · 76% evidenceValuation 4.7/20 · P/E 57.3× · PEG 5.57 · 65% evidenceRelative strength 4.8/20 · Lead over its industry -11.1% · Lead over S&P 500 -8.6% · 1 year 31% · 100% evidence · 0 of 12 weeks aheadExact sum: 17.2 + 12.3 + 4.7 + 4.8 = 39 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 11PAMT CORPPAMT · quiet · Evidence leans down · 64% evidence38.3out of 100
- 12Heartland Express, Inc. this pageHTLD · quiet · Evidence leans down · 67% evidence37.0out of 100
How the score adds up
Growth & earnings 17.6/35 · Revenue -17.3% · Profit — · Operating margin change 4 points · 71% evidenceCapital efficiency 4.2/25 · ROCE -4.4% · Operating margin -3.1% · 76% evidenceValuation 11.3/20 · P/E -70.6× · PEG — · 15% evidenceRelative strength 3.9/20 · Lead over its industry -15.3% · Lead over S&P 500 -13.5% · 1 year 40.5% · 100% evidence · 0 of 12 weeks aheadExact sum: 17.6 + 4.2 + 11.3 + 3.9 = 37 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 13Marten Transport, Ltd.MRTN · quiet · Most evidence points down · 85% evidence33.7out of 100
- 14Werner Enterprises, Inc.WERN · quiet · Most evidence points down · 71% evidence31.5out of 100
Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.
The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.
Related companies: Trucking, all 14 compared on one page.
Which companies are close to Heartland Express in size?
Heartland Express is the 13th largest of 14 Trucking companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: ArcBest Corporation, Werner Enterprises, Inc., Marten Transport, Universal Logistics Holdings, Inc. and Covenant Logistics Group, Inc. Just below it: PAMT CORP.
Trucking companies close in size
- ArcBest Corporation $3.1 billion
- Werner Enterprises, Inc. $1.8 billion
- Marten Transport, Ltd. $1 billion
- Universal Logistics Holdings, Inc. $863 million
- Covenant Logistics Group, Inc. $860 million
- Heartland Express, Inc. $828 million
- PAMT CORP $259 million
All 14 Trucking companies, largest first
Companies close in size in other industries
- Peapack-Gladstone Financial Corporation $830 million · Banks - Regional
- South Plains Financial, Inc. $828 million · Banks - Regional
- Heartland Express, Inc. $828 million
- Ardelyx, Inc. $827 million · Biotechnology
- Independent Bank Corporation $823 million · Banks - Regional
What else do people ask about Heartland Express?
What were Heartland Express's latest quarterly results?
Heartland Express, Inc. reported revenue of $180 M and net profit of $959 K for the Sep 2026 quarter. Earnings per share were $0.01. The operating margin was −3.1%, 4.0 percentage points higher than a year earlier (as of 4 November 2026).
What is Heartland Express's market cap?
Heartland Express, Inc.'s market capitalisation is $828 M at a stock price of $10.72. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is Heartland Express performing?
Heartland Express, Inc.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 15 weeks running. This describes what the data did, not a rating (as of 4 November 2026).
Will Heartland Express's stock price go up?
This page does not forecast Heartland Express, Inc.'s stock price. What it shows instead: the stock price is $10.72. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).
Is Heartland Express's profit real cash?
Yes, over the last 3 years, 212% of Heartland Express, Inc.'s reported profit came in as cash from operations. The latest year was lower at -170%, so the trend is worth watching. In FY25, operating cash was $89.3 M against reported profit of −$52.5 M.
Most of that cash then goes into building new capacity. These are yearly figures (as of 4 November 2026).
Where is Heartland Express in its business cycle?
Heartland Express, Inc.'s FY25 operating margin was −7.7%, against a 5-year range of −7.7% to 11.2%: the low end of its own range, which is often where recoveries start. The latest quarter was −3.1%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the Heartland Express story?
Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business.
On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is Heartland Express a stock worth studying right now?
What the numbers show: Heartland Express, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
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