Covenant Logistics Group (CVLG) Financials

$18.35 +0.62 (+3.49%)

Closing price 04/17/2025 03:59 PM Eastern

Extended Trading

$18.40 +0.06 (+0.31%)

As of 04/17/2025 04:05 PM Eastern

Annual Income Statements for Covenant Logistics Group

This table shows Covenant Logistics Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	109	55	36
Consolidated Net Income / (Loss)	109	55	36
Net Income / (Loss) Continuing Operations	108	55	35
Total Pre-Tax Income	143	72	46
Total Operating Income	121	59	45
Total Gross Profit	648	570	338
Total Revenue	1,217	1,104	877
Operating Revenue	1,217	1,104	877
Total Cost of Revenue	569	534	539
Operating Cost of Revenue	569	534	539
Total Operating Expenses	527	511	293
Selling, General & Admin Expense	38	49	66
Marketing Expense	51	50	60
Depreciation Expense	58	70	87
Other Operating Expenses / (Income)	422	354	79
Other Special Charges / (Income)	-40	-13	1.63
Total Other Income / (Expense), net	22	13	1.14
Interest Expense	3.08	7.97	14
Interest & Investment Income	25	21	15
Income Tax Expense	35	18	11
Net Income / (Loss) Discontinued Operations	0.75	0.60	0.60
Basic Earnings per Share	$3.62	$2.12	$1.37
Weighted Average Basic Shares Outstanding	30.01M	26.10M	26.31M
Diluted Earnings per Share	$3.50	$2.00	$1.30
Weighted Average Diluted Shares Outstanding	31.05M	27.67M	27.71M
Weighted Average Basic & Diluted Shares Outstanding	13.24M	13.07M	26.55M

This table shows Covenant Logistics Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	50	12	17	12	14	13	3.97	12	13	6.72
Consolidated Net Income / (Loss)	50	12	17	12	14	13	3.97	12	13	6.72
Net Income / (Loss) Continuing Operations	50	11	16	12	13	13	3.82	12	13	6.57
Total Pre-Tax Income	66	14	23	15	18	17	4.67	16	17	8.33
Total Operating Income	59	11	18	12	15	14	4.34	16	16	8.61
Total Gross Profit	86	399	71	73	79	347	81	89	84	84
Total Revenue	312	461	204	206	217	477	212	225	223	217
Operating Revenue	312	461	204	206	217	477	212	225	223	217
Total Cost of Revenue	226	62	133	133	137	130	131	135	139	133
Operating Cost of Revenue	226	62	133	133	137	130	131	135	139	133
Total Operating Expenses	27	388	53	62	64	332	76	74	68	75
Selling, General & Admin Expense	11	9.35	14	13	12	11	21	14	12	19
Marketing Expense	13	15	13	11	13	13	15	17	12	15
Depreciation Expense	14	16	15	19	18	18	21	22	21	22
Other Operating Expenses / (Income)	27	349	22	21	22	290	18	19	22	19
Other Special Charges / (Income)	-39	-1.04	-9.79	-1.99	-0.60	-0.21	0.70	0.84	0.21	-0.12
Total Other Income / (Expense), net	6.47	3.11	5.17	3.26	2.70	2.29	0.34	0.30	0.79	-0.29
Interest Expense	0.94	0.83	0.77	2.12	2.64	2.44	3.34	3.80	3.20	3.24
Interest & Investment Income	7.40	3.93	5.94	5.38	5.34	4.73	3.68	4.09	3.99	2.95
Income Tax Expense	16	2.73	6.32	2.90	4.48	3.91	0.85	3.83	4.14	1.76
Net Income / (Loss) Discontinued Operations	0.53	0.23	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15
Basic Earnings per Share	$3.50	$0.38	$1.25	$0.95	$1.04	$0.49	$0.30	$0.93	$0.99	$0.26
Weighted Average Basic Shares Outstanding	14.41M	30.01M	13.36M	12.94M	12.95M	26.10M	13.09M	13.15M	13.18M	26.31M
Diluted Earnings per Share	$3.39	$0.38	$1.20	$0.91	$0.99	$0.49	$0.29	$0.88	$0.94	$0.26
Weighted Average Diluted Shares Outstanding	14.89M	31.05M	13.88M	13.57M	13.68M	27.67M	13.80M	13.83M	13.90M	27.71M
Basic & Diluted Earnings per Share	-	$0.38	-	-	-	$0.49	-	-	-	$0.26
Weighted Average Basic & Diluted Shares Outstanding	13.49M	13.24M	12.92M	12.95M	12.95M	13.07M	13.11M	13.17M	13.18M	26.55M
Cash Dividends to Common per Share	$0.08	$0.04	$0.11	$0.11	$0.11	$0.06	$0.11	$0.11	$0.11	$0.06

This table details how cash moves in and out of Covenant Logistics Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	60	-66	33
Net Cash From Operating Activities	159	85	123
Net Cash From Continuing Operating Activities	159	85	123
Net Income / (Loss) Continuing Operations	109	55	36
Consolidated Net Income / (Loss)	109	55	36
Depreciation Expense	58	70	87
Non-Cash Adjustments To Reconcile Net Income	-44	-20	-6.97
Changes in Operating Assets and Liabilities, net	37	-21	7.41
Net Cash From Investing Activities	-86	-236	-108
Net Cash From Continuing Investing Activities	-86	-236	-108
Purchase of Property, Plant & Equipment	-100	-218	-153
Acquisitions	-39	-108	-4.56
Purchase of Investments	-0.24	-2.20	-0.60
Sale of Property, Plant & Equipment	53	92	50
Net Cash From Financing Activities	-13	85	18
Net Cash From Continuing Financing Activities	-13	85	18
Repayment of Debt	-72	-159	-144
Repurchase of Common Equity	-85	-25	0.00
Payment of Dividends	-4.29	-5.78	-5.80
Issuance of Debt	155	294	177
Other Financing Activities, net	-6.74	-19	-9.09
Cash Interest Paid	3.31	5.32	5.67
Cash Income Taxes Paid	17	4.19	7.27

This table details how cash moves in and out of Covenant Logistics Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	55	9.41	-14	-47	-0.43	-5.09	0.66	-1.67	34	0.42
Net Cash From Operating Activities	44	38	7.25	5.12	41	32	22	22	57	22
Net Cash From Continuing Operating Activities	44	38	7.25	5.12	41	32	22	22	57	22
Net Income / (Loss) Continuing Operations	50	12	17	12	14	13	3.97	12	13	6.72
Consolidated Net Income / (Loss)	50	12	17	12	14	13	3.97	12	13	6.72
Depreciation Expense	14	16	15	19	18	18	21	22	21	22
Non-Cash Adjustments To Reconcile Net Income	-38	4.41	-15	-5.75	5.49	-4.54	-2.36	-2.75	0.74	-2.60
Changes in Operating Assets and Liabilities, net	17	6.47	-9.20	-20	3.43	5.37	-1.02	-9.35	22	-4.26
Net Cash From Investing Activities	13	-36	7.08	-120	-31	-91	-43	-43	-18	-3.47
Net Cash From Continuing Investing Activities	13	-36	7.08	-120	-31	-91	-43	-43	-18	-3.47
Purchase of Property, Plant & Equipment	-34	-39	-16	-43	-53	-106	-48	-51	-33	-21
Purchase of Investments	-0.01	-0.22	-1.11	-0.34	-0.13	-0.62	-0.16	-0.14	-0.19	-0.11
Sale of Property, Plant & Equipment	48	2.89	24	23	30	15	9.59	7.69	15	18
Net Cash From Financing Activities	-2.52	7.63	-28	69	-9.77	54	22	19	-5.21	-18
Net Cash From Continuing Financing Activities	-2.52	7.63	-28	69	-9.77	54	22	19	-5.21	-18
Repayment of Debt	7.81	13	-19	-38	-89	-13	-36	-55	-25	-28
Payment of Dividends	-1.17	-1.10	-1.47	-1.44	-1.44	-1.44	-1.44	-1.45	-1.45	-1.46
Issuance of Debt	18	16	23	116	83	72	67	75	20	15
Other Financing Activities, net	0.13	-6.49	-11	-3.31	-1.92	-3.46	-6.93	0.22	0.50	-2.87

This table presents Covenant Logistics Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	797	954	998
Total Current Assets	223	186	214
Cash & Equivalents	69	2.29	36
Accounts Receivable	120	143	142
Inventories, net	3.52	4.85	5.65
Prepaid Expenses	16	18	20
Current Deferred & Refundable Income Taxes	4.84	6.74	6.50
Other Current Assets	10	12	4.47
Plant, Property, & Equipment, net	408	515	525
Plant, Property & Equipment, gross	620	693	729
Accumulated Depreciation	212	178	205
Total Noncurrent Assets	166	254	259
Goodwill	58	76	79
Intangible Assets	48	100	90
Other Noncurrent Operating Assets	59	78	90
Other Noncurrent Nonoperating Assets	1.03	0.41	0.21
Total Liabilities & Shareholders' Equity	797	954	998
Total Liabilities	420	551	559
Total Current Liabilities	156	170	181
Short-Term Debt	42	60	75
Accounts Payable	34	33	32
Accrued Expenses	80	77	74
Other Current Liabilities	-	-	0.75
Total Noncurrent Liabilities	263	381	378
Long-Term Debt	90	197	187
Noncurrent Deferred & Payable Income Tax Liabilities	99	116	118
Other Noncurrent Operating Liabilities	70	61	72
Other Noncurrent Nonoperating Liabilities	4.10	1.64	0.84
Total Equity & Noncontrolling Interests	377	403	438
Total Preferred & Common Equity	377	403	438
Total Common Equity	377	403	438
Common Stock	153	156	159
Retained Earnings	329	379	278
Treasury Stock	-	-	0.00
Accumulated Other Comprehensive Income / (Loss)	1.09	0.82	1.04
Other Equity Adjustments	-107	-132	0.00

This table presents Covenant Logistics Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	757	765	871	892	943	995	1,010
Total Current Assets	213	205	199	203	180	202	215
Cash & Equivalents	59	55	7.82	7.39	2.95	1.28	35
Accounts Receivable	133	122	143	154	144	145	135
Inventories, net	3.72	3.31	4.13	4.86	5.13	5.61	6.11
Prepaid Expenses	11	13	21	17	14	24	21
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00	0.00	0.32	13	7.53
Other Current Assets	6.18	12	22	19	15	13	9.77
Plant, Property, & Equipment, net	373	389	430	444	503	533	537
Plant, Property & Equipment, gross	576	591	611	613	691	726	736
Accumulated Depreciation	203	203	181	169	188	193	199
Total Noncurrent Assets	170	171	241	246	260	260	258
Goodwill	58	58	69	73	80	79	79
Intangible Assets	49	47	98	102	97	95	92
Other Noncurrent Operating Assets	62	65	73	70	82	86	86
Other Noncurrent Nonoperating Assets	1.10	0.98	0.93	0.46	0.36	0.31	0.26
Total Liabilities & Shareholders' Equity	757	765	871	892	943	995	1,010
Total Liabilities	377	394	491	498	536	576	578
Total Current Liabilities	161	139	154	171	173	188	195
Short-Term Debt	36	37	43	46	71	82	74
Accounts Payable	33	28	34	34	32	32	32
Accrued Expenses	91	74	75	90	70	73	78
Other Current Liabilities	0.00	-	2.10	0.77	0.92	1.19	11
Total Noncurrent Liabilities	216	255	337	327	363	388	383
Long-Term Debt	70	96	163	154	187	197	192
Noncurrent Deferred & Payable Income Tax Liabilities	90	97	100	103	111	120	119
Other Noncurrent Operating Liabilities	51	58	67	63	58	64	71
Other Noncurrent Nonoperating Liabilities	4.40	3.90	3.70	1.84	1.44	1.24	1.04
Total Equity & Noncontrolling Interests	380	371	380	394	407	419	432
Total Preferred & Common Equity	380	371	380	394	407	419	432
Total Common Equity	380	371	380	394	407	419	432
Common Stock	153	153	155	156	157	158	159
Retained Earnings	319	345	355	368	381	392	404
Treasury Stock	-93	-127	-131	-	-132	-	-131
Accumulated Other Comprehensive Income / (Loss)	1.11	0.68	1.04	1.45	1.08	1.11	0.58

This table displays calculated financial ratios and metrics derived from Covenant Logistics Group's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	70.35%	-9.31%	-20.52%
EBITDA Growth	47.22%	-27.74%	1.96%
EBIT Growth	79.69%	-51.26%	-23.91%
NOPAT Growth	84.75%	-51.24%	-22.56%
Net Income Growth	78.96%	-49.18%	-34.96%
EPS Growth	78.96%	-49.18%	-34.96%
Operating Cash Flow Growth	117.47%	-46.72%	44.85%
Free Cash Flow Firm Growth	-23.81%	-496.71%	119.57%
Invested Capital Growth	11.80%	49.51%	0.01%
Revenue Q/Q Growth	43.04%	44.77%	-22.87%
EBITDA Q/Q Growth	-2.26%	4.74%	-1.37%
EBIT Q/Q Growth	-5.73%	6.07%	-11.22%
NOPAT Q/Q Growth	-5.55%	4.95%	-10.67%
Net Income Q/Q Growth	-5.42%	2.40%	-14.47%
EPS Q/Q Growth	-5.42%	2.40%	-14.47%
Operating Cash Flow Q/Q Growth	26.32%	-6.91%	-7.48%
Free Cash Flow Firm Q/Q Growth	471.57%	-46.07%	208.53%
Invested Capital Q/Q Growth	3.24%	12.04%	0.20%
Profitability Metrics	-	-	-
Gross Margin	53.27%	51.63%	38.52%
EBITDA Margin	14.64%	11.67%	14.97%
Operating Margin	9.92%	5.33%	5.10%
EBIT Margin	9.92%	5.33%	5.10%
Profit (Net Income) Margin	8.93%	5.00%	4.10%
Tax Burden Percent	76.11%	76.45%	78.26%
Interest Burden Percent	118.32%	122.81%	102.54%
Effective Tax Rate	24.41%	24.38%	23.04%
Return on Invested Capital (ROIC)	21.65%	8.02%	5.18%
ROIC Less NNEP Spread (ROIC-NNEP)	51.83%	14.55%	5.78%
Return on Net Nonoperating Assets (RNNOA)	8.25%	6.13%	3.35%
Return on Equity (ROE)	29.91%	14.15%	8.53%
Cash Return on Invested Capital (CROIC)	10.51%	-31.67%	5.17%
Operating Return on Assets (OROA)	16.67%	6.72%	4.59%
Return on Assets (ROA)	15.01%	6.31%	3.68%
Return on Common Equity (ROCE)	29.91%	14.15%	8.53%
Return on Equity Simple (ROE_SIMPLE)	28.82%	13.69%	8.19%
Net Operating Profit after Tax (NOPAT)	91	44	34
NOPAT Margin	7.50%	4.03%	3.93%
Net Nonoperating Expense Percent (NNEP)	-30.18%	-6.53%	-0.60%
Return On Investment Capital (ROIC_SIMPLE)	17.87%	6.68%	4.92%
Cost of Revenue to Revenue	46.73%	48.37%	61.48%
SG&A Expenses to Revenue	3.10%	4.48%	7.53%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.35%	46.30%	33.42%
Earnings before Interest and Taxes (EBIT)	121	59	45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	178	129	131
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.21	1.46	1.64
Price to Tangible Book Value (P/TBV)	1.69	2.59	2.67
Price to Revenue (P/Rev)	0.38	0.54	0.82
Price to Earnings (P/E)	4.21	10.70	20.00
Dividend Yield	1.68%	1.93%	1.61%
Earnings Yield	23.75%	9.35%	5.00%
Enterprise Value to Invested Capital (EV/IC)	1.17	1.28	1.42
Enterprise Value to Revenue (EV/Rev)	0.43	0.77	1.08
Enterprise Value to EBITDA (EV/EBITDA)	2.93	6.61	7.19
Enterprise Value to EBIT (EV/EBIT)	4.33	14.47	21.10
Enterprise Value to NOPAT (EV/NOPAT)	5.72	19.14	27.42
Enterprise Value to Operating Cash Flow (EV/OCF)	3.28	10.03	7.69
Enterprise Value to Free Cash Flow (EV/FCFF)	11.79	0.00	27.47
Leverage & Solvency	-	-	-
Debt to Equity	0.35	0.65	0.60
Long-Term Debt to Equity	0.24	0.50	0.43
Financial Leverage	0.16	0.42	0.58
Leverage Ratio	1.99	2.24	2.32
Compound Leverage Factor	2.36	2.76	2.38
Debt to Total Capital	26.10%	39.43%	37.38%
Short-Term Debt to Total Capital	8.31%	9.07%	10.65%
Long-Term Debt to Total Capital	17.79%	30.36%	26.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	73.90%	60.57%	62.62%
Debt to EBITDA	0.75	2.04	1.99
Net Debt to EBITDA	0.36	2.02	1.72
Long-Term Debt to EBITDA	0.51	1.57	1.43
Debt to NOPAT	1.46	5.90	7.60
Net Debt to NOPAT	0.71	5.85	6.56
Long-Term Debt to NOPAT	1.00	4.55	5.43
Altman Z-Score	3.36	2.58	2.23
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.43	1.09	1.18
Quick Ratio	1.21	0.85	0.98
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	44	-176	34
Operating Cash Flow to CapEx	335.46%	67.45%	119.87%
Free Cash Flow to Firm to Interest Expense	14.37	-22.05	2.53
Operating Cash Flow to Interest Expense	51.65	10.65	9.05
Operating Cash Flow Less CapEx to Interest Expense	36.25	-5.14	1.50
Efficiency Ratios	-	-	-
Asset Turnover	1.68	1.26	0.90
Accounts Receivable Turnover	9.28	8.42	6.17
Inventory Turnover	166.31	127.64	102.76
Fixed Asset Turnover	3.23	2.39	1.69
Accounts Payable Turnover	17.83	15.92	16.57
Days Sales Outstanding (DSO)	39.31	43.37	59.12
Days Inventory Outstanding (DIO)	2.19	2.86	3.55
Days Payable Outstanding (DPO)	20.48	22.92	22.03
Cash Conversion Cycle (CCC)	21.03	23.31	40.64
Capital & Investment Metrics	-	-	-
Invested Capital	445	665	665
Invested Capital Turnover	2.89	1.99	1.32
Increase / (Decrease) in Invested Capital	47	220	0.07
Enterprise Value (EV)	522	851	944
Market Capitalization	458	591	718
Book Value per Share	$27.95	$31.16	$33.26
Tangible Book Value per Share	$20.06	$17.62	$20.43
Total Capital	510	666	700
Total Debt	133	263	262
Total Long-Term Debt	91	202	187
Net Debt	65	260	226
Capital Expenditures (CapEx)	47	126	103
Debt-free, Cash-free Net Working Capital (DFCFNWC)	40	74	72
Debt-free Net Working Capital (DFNWC)	109	76	107
Net Working Capital (NWC)	67	16	33
Net Nonoperating Expense (NNE)	-17	-11	-1.48
Net Nonoperating Obligations (NNO)	68	262	227
Total Depreciation and Amortization (D&A)	58	70	87
Debt-free, Cash-free Net Working Capital to Revenue	3.31%	6.68%	8.15%
Debt-free Net Working Capital to Revenue	8.95%	6.89%	12.21%
Net Working Capital to Revenue	5.47%	1.42%	3.71%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$3.62	$2.12	$1.37
Adjusted Weighted Average Basic Shares Outstanding	30.01M	26.10M	26.31M
Adjusted Diluted Earnings per Share	$3.50	$2.00	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	31.05M	27.67M	27.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	26.48M	26.14M	26.55M
Normalized Net Operating Profit after Tax (NOPAT)	61	35	36
Normalized NOPAT Margin	4.99%	3.17%	4.07%
Pre Tax Income Margin	11.73%	6.55%	5.23%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	39.14	7.38	3.30
NOPAT to Interest Expense	29.59	5.58	2.54
EBIT Less CapEx to Interest Expense	23.75	-8.40	-4.25
NOPAT Less CapEx to Interest Expense	14.19	-10.20	-5.01
Payout Ratios	-	-	-
Dividend Payout Ratio	3.94%	10.47%	16.14%
Augmented Payout Ratio	81.90%	56.51%	16.14%

This table displays calculated financial ratios and metrics derived from Covenant Logistics Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.58%	384.48%	-1.97%	-12.59%	-30.52%	3.39%	4.01%	9.08%	3.13%	-54.52%
EBITDA Growth	119.49%	-13.38%	-13.64%	-24.70%	-54.61%	21.84%	-21.00%	22.72%	12.41%	-5.62%
EBIT Growth	194.07%	-40.22%	-26.06%	-56.15%	-74.36%	30.85%	-75.41%	32.20%	7.23%	-39.63%
NOPAT Growth	208.06%	-38.03%	-27.48%	-52.10%	-74.83%	24.14%	-72.17%	24.25%	8.38%	-37.65%
Net Income Growth	207.06%	-35.13%	-24.96%	-49.88%	-73.25%	11.23%	-76.11%	-0.81%	-3.50%	-47.48%
EPS Growth	249.48%	-35.13%	-9.09%	-41.67%	-70.80%	11.23%	-75.83%	-3.30%	-5.05%	-47.48%
Operating Cash Flow Growth	29.46%	666.29%	-81.61%	-86.34%	-8.06%	-16.49%	199.41%	337.50%	40.03%	-31.18%
Free Cash Flow Firm Growth	-138.45%	-266.46%	61.53%	-141.26%	-245.50%	-448.56%	-1,506.89%	21.54%	61.71%	103.21%
Invested Capital Growth	25.98%	11.80%	6.10%	33.89%	37.76%	49.51%	47.94%	20.61%	11.84%	0.01%
Revenue Q/Q Growth	32.30%	47.96%	50.13%	1.08%	5.17%	120.16%	-55.56%	6.00%	-0.57%	-2.90%
EBITDA Q/Q Growth	79.92%	-63.66%	20.71%	-4.60%	8.45%	-2.44%	-21.74%	48.20%	-0.66%	-18.09%
EBIT Q/Q Growth	119.77%	-81.54%	61.72%	-33.17%	28.50%	-5.77%	-69.62%	259.33%	4.22%	-46.95%
NOPAT Q/Q Growth	126.72%	-80.51%	45.19%	-25.36%	19.16%	-3.87%	-67.45%	233.21%	3.94%	-44.69%
Net Income Q/Q Growth	105.85%	-77.22%	44.61%	-26.10%	9.87%	-5.26%	-68.94%	206.84%	6.88%	-48.44%
EPS Q/Q Growth	117.31%	-77.22%	64.38%	-24.17%	8.79%	-5.26%	-67.42%	203.45%	6.82%	-48.44%
Operating Cash Flow Q/Q Growth	17.82%	-13.60%	-81.01%	-29.36%	693.07%	-21.52%	-31.90%	3.22%	153.84%	-61.43%
Free Cash Flow Firm Q/Q Growth	23.59%	12.90%	65.19%	-941.50%	-9.43%	-38.29%	-1.95%	49.15%	46.60%	111.61%
Invested Capital Q/Q Growth	-1.22%	3.24%	1.74%	29.04%	1.63%	12.04%	0.68%	5.20%	-5.76%	0.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.54%	86.50%	34.63%	35.59%	36.55%	72.68%	38.08%	39.72%	37.63%	38.61%
EBITDA Margin	23.54%	5.78%	15.80%	14.91%	15.38%	6.81%	12.00%	16.78%	16.76%	14.14%
Operating Margin	18.94%	2.36%	8.65%	5.72%	6.99%	2.99%	2.04%	6.93%	7.27%	3.97%
EBIT Margin	18.94%	2.36%	8.65%	5.72%	6.99%	2.99%	2.04%	6.93%	7.27%	3.97%
Profit (Net Income) Margin	16.19%	2.49%	8.16%	5.97%	6.23%	2.68%	1.87%	5.43%	5.83%	3.10%
Tax Burden Percent	77.05%	82.12%	72.94%	81.74%	75.71%	77.29%	85.04%	76.83%	76.56%	80.69%
Interest Burden Percent	110.95%	128.48%	129.34%	127.64%	117.82%	116.04%	107.80%	101.89%	104.86%	96.69%
Effective Tax Rate	23.75%	19.49%	27.72%	19.26%	25.13%	23.62%	18.17%	24.12%	24.32%	21.11%
Return on Invested Capital (ROIC)	31.80%	5.50%	12.62%	7.76%	7.79%	4.54%	3.32%	9.23%	9.95%	4.13%
ROIC Less NNEP Spread (ROIC-NNEP)	49.19%	10.20%	17.85%	9.72%	9.52%	5.70%	3.56%	9.38%	10.29%	4.10%
Return on Net Nonoperating Assets (RNNOA)	4.34%	1.62%	3.64%	3.76%	3.08%	2.40%	1.57%	5.74%	5.38%	2.38%
Return on Equity (ROE)	36.14%	7.12%	16.26%	11.52%	10.86%	6.95%	4.89%	14.98%	15.33%	6.51%
Cash Return on Invested Capital (CROIC)	2.01%	10.51%	13.73%	-14.06%	-23.49%	-31.67%	-32.38%	-12.85%	-5.04%	5.17%
Operating Return on Assets (OROA)	22.06%	3.97%	10.77%	6.24%	6.46%	3.77%	2.66%	8.40%	8.69%	3.57%
Return on Assets (ROA)	18.86%	4.19%	10.16%	6.51%	5.76%	3.38%	2.44%	6.58%	6.98%	2.78%
Return on Common Equity (ROCE)	36.14%	7.12%	16.26%	11.52%	10.86%	6.95%	4.89%	14.98%	15.33%	6.51%
Return on Equity Simple (ROE_SIMPLE)	30.23%	0.00%	27.79%	23.95%	13.69%	0.00%	10.45%	10.13%	9.73%	0.00%
Net Operating Profit after Tax (NOPAT)	45	8.78	13	9.51	11	11	3.55	12	12	6.79
NOPAT Margin	14.44%	1.90%	6.25%	4.62%	5.23%	2.28%	1.67%	5.26%	5.50%	3.13%
Net Nonoperating Expense Percent (NNEP)	-17.40%	-4.71%	-5.22%	-1.96%	-1.74%	-1.15%	-0.25%	-0.15%	-0.35%	0.03%
Return On Investment Capital (ROIC_SIMPLE)	-	1.72%	-	-	-	1.64%	-	-	-	0.97%
Cost of Revenue to Revenue	72.46%	13.50%	65.37%	64.41%	63.45%	27.32%	61.92%	60.28%	62.37%	61.39%
SG&A Expenses to Revenue	3.59%	2.03%	6.68%	6.20%	5.43%	2.36%	9.82%	6.44%	5.34%	8.67%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.60%	84.13%	25.98%	29.87%	29.56%	69.69%	36.03%	32.79%	30.37%	34.65%
Earnings before Interest and Taxes (EBIT)	59	11	18	12	15	14	4.34	16	16	8.61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	73	27	32	31	33	33	25	38	37	31
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.07	1.21	1.25	1.48	1.43	1.46	1.47	1.54	1.61	1.64
Price to Tangible Book Value (P/TBV)	1.50	1.69	1.74	2.64	2.57	2.59	2.61	2.63	2.68	2.67
Price to Revenue (P/Rev)	0.48	0.38	0.52	0.65	0.74	0.54	0.54	0.57	0.61	0.82
Price to Earnings (P/E)	3.55	4.21	4.49	6.17	10.43	10.70	14.07	15.22	16.57	20.00
Dividend Yield	0.73%	1.68%	0.95%	0.88%	0.94%	1.93%	0.95%	0.89%	0.83%	1.61%
Earnings Yield	28.19%	23.75%	22.26%	16.21%	9.59%	9.35%	7.11%	6.57%	6.03%	5.00%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.17	1.20	1.31	1.28	1.28	1.28	1.32	1.40	1.42
Enterprise Value to Revenue (EV/Rev)	0.53	0.43	0.61	0.89	1.00	0.77	0.77	0.82	0.82	1.08
Enterprise Value to EBITDA (EV/EBITDA)	2.50	2.93	3.13	4.68	6.19	6.61	7.05	7.21	6.97	7.19
Enterprise Value to EBIT (EV/EBIT)	3.55	4.33	4.73	7.67	13.71	14.47	18.89	18.86	18.39	21.10
Enterprise Value to NOPAT (EV/NOPAT)	4.71	5.72	6.27	10.02	17.94	19.14	24.35	24.75	24.05	27.42
Enterprise Value to Operating Cash Flow (EV/OCF)	3.61	3.28	4.26	8.05	8.34	10.03	8.66	7.98	6.98	7.69
Enterprise Value to Free Cash Flow (EV/FCFF)	58.72	11.79	8.98	0.00	0.00	0.00	0.00	0.00	0.00	27.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.28	0.35	0.36	0.55	0.52	0.65	0.65	0.68	0.62	0.60
Long-Term Debt to Equity	0.19	0.24	0.26	0.44	0.40	0.50	0.47	0.48	0.45	0.43
Financial Leverage	0.09	0.16	0.20	0.39	0.32	0.42	0.44	0.61	0.52	0.58
Leverage Ratio	2.06	1.99	1.95	2.14	2.13	2.24	2.19	2.33	2.30	2.32
Compound Leverage Factor	2.28	2.56	2.52	2.73	2.51	2.60	2.37	2.38	2.42	2.24
Debt to Total Capital	21.90%	26.10%	26.38%	35.54%	34.27%	39.43%	39.33%	40.48%	38.18%	37.38%
Short-Term Debt to Total Capital	7.43%	8.31%	7.29%	7.27%	7.72%	9.07%	10.55%	11.68%	10.61%	10.65%
Long-Term Debt to Total Capital	14.47%	17.79%	19.09%	28.26%	26.55%	30.36%	28.78%	28.80%	27.57%	26.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	78.10%	73.90%	73.62%	64.46%	65.73%	60.57%	60.67%	59.52%	61.82%	62.62%
Debt to EBITDA	0.58	0.75	0.77	1.28	1.67	2.04	2.16	2.21	2.00	1.99
Net Debt to EBITDA	0.26	0.36	0.45	1.24	1.61	2.02	2.14	2.20	1.74	1.72
Long-Term Debt to EBITDA	0.39	0.51	0.56	1.02	1.29	1.57	1.58	1.57	1.45	1.43
Debt to NOPAT	1.10	1.46	1.54	2.75	4.85	5.90	7.48	7.59	6.91	7.60
Net Debt to NOPAT	0.49	0.71	0.91	2.65	4.67	5.85	7.39	7.55	6.00	6.56
Long-Term Debt to NOPAT	0.73	1.00	1.11	2.19	3.75	4.55	5.47	5.40	4.99	5.43
Altman Z-Score	2.70	2.91	2.68	2.35	2.21	2.42	2.44	2.43	2.49	2.11
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.33	1.43	1.47	1.29	1.18	1.09	1.04	1.08	1.10	1.18
Quick Ratio	1.19	1.21	1.27	0.98	0.94	0.85	0.85	0.78	0.87	0.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-44	-38	-13	-138	-151	-209	-213	-109	-58	6.73
Operating Cash Flow to CapEx	0.00%	105.50%	0.00%	25.37%	175.79%	35.14%	55.98%	52.28%	324.06%	652.74%
Free Cash Flow to Firm to Interest Expense	-46.85	-46.13	-17.27	-65.11	-57.39	-85.88	-63.92	-28.56	-18.09	2.08
Operating Cash Flow to Interest Expense	47.24	46.14	9.43	2.41	15.40	13.08	6.50	5.90	17.75	6.78
Operating Cash Flow Less CapEx to Interest Expense	62.57	2.41	20.07	-7.09	6.64	-24.14	-5.11	-5.38	12.27	5.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.16	1.68	1.25	1.09	0.92	1.26	1.30	1.21	1.20	0.90
Accounts Receivable Turnover	6.44	9.28	6.88	6.03	5.32	8.42	8.36	7.84	7.86	6.17
Inventory Turnover	144.60	166.31	162.27	137.08	108.50	127.64	190.57	165.77	147.35	102.76
Fixed Asset Turnover	2.35	3.23	2.42	2.18	1.87	2.39	2.49	2.35	2.32	1.69
Accounts Payable Turnover	18.24	17.83	20.35	15.75	13.78	15.92	26.84	24.67	24.55	16.57
Days Sales Outstanding (DSO)	56.68	39.31	53.03	60.58	68.67	43.37	43.69	46.57	46.42	59.12
Days Inventory Outstanding (DIO)	2.52	2.19	2.25	2.66	3.36	2.86	1.92	2.20	2.48	3.55
Days Payable Outstanding (DPO)	20.01	20.48	17.94	23.18	26.49	22.92	13.60	14.80	14.87	22.03
Cash Conversion Cycle (CCC)	39.20	21.03	37.34	40.06	45.54	23.31	32.00	33.98	34.03	40.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	431	445	452	584	593	665	669	704	664	665
Invested Capital Turnover	2.20	2.89	2.02	1.68	1.49	1.99	1.98	1.76	1.81	1.32
Increase / (Decrease) in Invested Capital	89	47	26	148	163	220	217	120	70	0.07
Enterprise Value (EV)	455	522	542	762	761	851	860	930	927	944
Market Capitalization	408	458	463	561	562	591	599	646	696	718
Book Value per Share	$26.30	$27.95	$28.03	$29.39	$30.43	$31.16	$31.12	$31.98	$32.77	$33.26
Tangible Book Value per Share	$18.86	$20.06	$20.08	$16.46	$16.91	$17.62	$17.55	$18.72	$19.75	$20.43
Total Capital	487	510	504	589	599	666	671	705	698	700
Total Debt	107	133	133	209	205	263	264	285	267	262
Total Long-Term Debt	70	91	96	166	159	202	193	203	192	187
Net Debt	47	65	78	201	198	260	261	284	231	226
Capital Expenditures (CapEx)	-14	36	-8.19	20	23	91	39	43	18	3.36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	29	40	48	80	70	74	75	95	59	72
Debt-free Net Working Capital (DFNWC)	89	109	103	88	77	76	78	96	94	107
Net Working Capital (NWC)	53	67	66	45	31	16	7.04	14	20	33
Net Nonoperating Expense (NNE)	-5.45	-2.72	-3.89	-2.78	-2.17	-1.90	-0.43	-0.37	-0.75	0.07
Net Nonoperating Obligations (NNO)	51	68	81	204	199	262	262	285	232	227
Total Depreciation and Amortization (D&A)	14	16	15	19	18	18	21	22	21	22
Debt-free, Cash-free Net Working Capital to Revenue	3.46%	3.31%	5.43%	9.32%	9.19%	6.68%	6.74%	8.42%	5.19%	8.15%
Debt-free Net Working Capital to Revenue	10.42%	8.95%	11.58%	10.23%	10.16%	6.89%	7.01%	8.53%	8.28%	12.21%
Net Working Capital to Revenue	6.17%	5.47%	7.43%	5.24%	4.09%	1.42%	0.63%	1.25%	1.77%	3.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.50	$0.19	$1.25	$0.95	$1.04	$0.25	$0.30	$0.93	$0.99	$0.13
Adjusted Weighted Average Basic Shares Outstanding	14.41M	60.02M	13.36M	12.94M	12.95M	52.19M	13.09M	13.15M	13.18M	52.61M
Adjusted Diluted Earnings per Share	$3.39	$0.19	$1.20	$0.91	$0.99	$0.25	$0.29	$0.88	$0.94	$0.13
Adjusted Weighted Average Diluted Shares Outstanding	14.89M	62.10M	13.88M	13.57M	13.68M	55.34M	13.80M	13.83M	13.90M	55.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.19	$0.00	$0.00	$0.00	$0.25	$0.00	$0.00	$0.00	$0.13
Adjusted Weighted Average Basic & Diluted Shares Outstanding	13.49M	26.48M	12.92M	12.95M	12.95M	26.14M	13.11M	13.17M	13.18M	53.10M
Normalized Net Operating Profit after Tax (NOPAT)	16	7.94	5.67	7.91	11	11	4.12	12	12	6.70
Normalized NOPAT Margin	4.97%	1.72%	2.78%	3.84%	5.02%	2.25%	1.94%	5.54%	5.57%	3.09%
Pre Tax Income Margin	21.01%	3.04%	11.19%	7.30%	8.23%	3.47%	2.20%	7.06%	7.62%	3.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	63.16	13.18	22.93	5.55	5.74	5.85	1.30	4.10	5.07	2.66
NOPAT to Interest Expense	48.16	10.61	16.57	4.48	4.30	4.47	1.06	3.11	3.83	2.10
EBIT Less CapEx to Interest Expense	78.49	-30.55	33.57	-3.95	-3.02	-31.36	-10.32	-7.18	-0.41	1.62
NOPAT Less CapEx to Interest Expense	63.49	-33.12	27.22	-5.02	-4.46	-32.74	-10.55	-8.17	-1.64	1.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	2.78%	3.94%	4.56%	5.69%	10.08%	10.47%	13.53%	13.57%	13.76%	16.14%
Augmented Payout Ratio	64.47%	81.90%	92.52%	79.21%	82.99%	56.51%	24.39%	13.44%	13.62%	16.14%

Frequently Asked Questions About Covenant Logistics Group's Financials

When does Covenant Logistics Group's financial year end?

According to the most recent income statement we have on file, Covenant Logistics Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Covenant Logistics Group's net income changed over the last 2 years?

Covenant Logistics Group's net income appears to be on a downward trend, with a most recent value of $35.92 million in 2024, falling from $108.68 million in 2022. The previous period was $55.23 million in 2023.

What is Covenant Logistics Group's operating income?

Covenant Logistics Group's total operating income in 2024 was $44.76 million, based on the following breakdown:

Total Gross Profit: $337.87 million
Total Operating Expenses: $293.11 million

How has Covenant Logistics Group revenue changed over the last 2 years?

Over the last 2 years, Covenant Logistics Group's total revenue changed from $1.22 billion in 2022 to $877.17 million in 2024, a change of -27.9%.

How much debt does Covenant Logistics Group have?

Covenant Logistics Group's total liabilities were at $559.23 million at the end of 2024, a 1.5% increase from 2023, and a 33.3% increase since 2022.

How much cash does Covenant Logistics Group have?

In the past 2 years, Covenant Logistics Group's cash and equivalents has ranged from $2.29 million in 2023 to $68.67 million in 2022, and is currently $35.62 million as of their latest financial filing in 2024.

How has Covenant Logistics Group's book value per share changed over the last 2 years?

Over the last 2 years, Covenant Logistics Group's book value per share changed from 27.95 in 2022 to 33.26 in 2024, a change of 19.0%.

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This page (NASDAQ:CVLG) was last updated on 4/18/2025 by MarketBeat.com Staff

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Covenant Logistics Group (CVLG) Financials

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Covenant Logistics Group (CVLG) Financials

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