Heartland Express (HTLD) Financials

$8.21 +0.13 (+1.60%)

As of 10:30 AM Eastern

Annual Income Statements for Heartland Express

This table shows Heartland Express' 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	134	15	-30
Consolidated Net Income / (Loss)	134	15	-30
Net Income / (Loss) Continuing Operations	134	15	-30
Total Pre-Tax Income	181	20	-37
Total Operating Income	188	42	-20
Total Gross Profit	366	520	372
Total Revenue	968	1,207	1,048
Operating Revenue	968	1,207	1,048
Total Cost of Revenue	602	687	676
Operating Cost of Revenue	602	687	676
Total Operating Expenses	177	478	392
Selling, General & Admin Expense	51	66	57
Marketing Expense	34	45	51
Depreciation Expense	133	199	182
Other Operating Expenses / (Income)	55	208	110
Other Special Charges / (Income)	-97	-41	-7.51
Total Other Income / (Expense), net	-7.27	-23	-16
Interest Expense	8.56	24	18
Interest & Investment Income	1.29	1.66	1.14
Income Tax Expense	48	5.08	-6.95
Basic Earnings per Share	$1.69	$0.19	($0.38)
Weighted Average Basic Shares Outstanding	78.94M	79.01M	78.73M
Diluted Earnings per Share	$1.69	$0.19	($0.38)
Weighted Average Diluted Shares Outstanding	78.97M	79.08M	78.78M
Weighted Average Basic & Diluted Shares Outstanding	78.99M	79.05M	78.55M
Cash Dividends to Common per Share	$0.08	$0.08	$0.08

This table shows Heartland Express' 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	24	15	13	7.77	-11	5.10	-15	-3.48	-9.28	-1.85
Consolidated Net Income / (Loss)	24	15	13	7.77	-11	5.10	-15	-3.48	-9.28	-1.85
Net Income / (Loss) Continuing Operations	24	15	13	7.77	-11	5.10	-15	-3.48	-9.28	-1.85
Total Pre-Tax Income	33	20	17	11	-13	5.07	-19	-4.02	-11	-2.21
Total Operating Income	35	26	23	16	-7.44	11	-14	0.26	-7.14	1.02
Total Gross Profit	123	102	150	136	120	114	110	118	109	35
Total Revenue	274	355	331	306	295	275	270	275	260	243
Operating Revenue	274	355	331	306	295	275	270	275	260	243
Total Cost of Revenue	151	253	181	170	175	161	160	157	151	207
Operating Cost of Revenue	151	253	181	170	175	161	160	157	151	207
Total Operating Expenses	88	76	127	120	128	103	125	117	116	34
Selling, General & Admin Expense	26	-4.15	33	32	34	-33	32	30	34	-39
Marketing Expense	11	12	11	10	9.33	15	15	13	11	12
Depreciation Expense	35	51	48	48	51	51	47	46	45	44
Other Operating Expenses / (Income)	23	21	42	37	35	96	32	29	26	23
Other Special Charges / (Income)	-6.84	-4.10	-6.79	-8.02	-1.07	-25	0.09	-1.12	-0.48	-6.00
Total Other Income / (Expense), net	-1.81	-5.69	-5.59	-5.52	-5.79	-5.63	-4.94	-4.29	-3.99	-3.23
Interest Expense	2.35	6.04	6.08	6.11	6.07	5.93	5.30	4.57	4.24	3.46
Interest & Investment Income	0.54	0.35	0.48	0.59	0.28	0.30	0.37	0.29	0.26	0.23
Income Tax Expense	8.52	4.99	4.69	2.94	-2.53	-0.02	-4.21	-0.54	-1.84	-0.36
Basic Earnings per Share	$0.31	$0.20	$0.16	$0.10	($0.14)	$0.07	($0.19)	($0.04)	($0.12)	($0.03)
Weighted Average Basic Shares Outstanding	78.94M	78.94M	78.99M	79.00M	79.02M	79.01M	79.04M	78.91M	78.49M	78.73M
Diluted Earnings per Share	$0.31	$0.20	$0.16	$0.10	($0.14)	$0.07	($0.19)	($0.04)	($0.12)	($0.03)
Weighted Average Diluted Shares Outstanding	78.97M	78.97M	79.02M	79.08M	79.10M	79.08M	79.12M	78.98M	78.50M	78.78M
Weighted Average Basic & Diluted Shares Outstanding	157.88M	78.99M	157.98M	158.05M	-	79.05M	158.10M	156.99M	78.50M	78.55M
Cash Dividends to Common per Share	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02

This table details how cash moves in and out of Heartland Express' 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	-109	-23	-15
Net Cash From Operating Activities	195	165	144
Net Cash From Continuing Operating Activities	195	165	144
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00
Depreciation Expense	133	199	182
Amortization Expense	0.36	1.07	1.05
Non-Cash Adjustments To Reconcile Net Income	38	-25	-36
Changes in Operating Assets and Liabilities, net	23	-10	-2.04
Net Cash From Investing Activities	-663	-68	-47
Net Cash From Continuing Investing Activities	-663	-68	-47
Purchase of Property, Plant & Equipment	-161	-209	-110
Acquisitions	-676	0.00	0.00
Sale of Property, Plant & Equipment	173	137	63
Other Investing Activities, net	0.41	3.41	0.00
Net Cash From Financing Activities	359	-121	-113
Net Cash From Continuing Financing Activities	359	-121	-113
Repayment of Debt	-81	-114	-100
Repurchase of Common Equity	0.00	0.00	-7.28
Payment of Dividends	-6.32	-6.32	-4.72
Issuance of Debt	447	0.00	0.00
Other Financing Activities, net	-0.29	-0.29	-0.41
Cash Interest Paid	6.38	22	18
Cash Income Taxes Paid	44	30	16

This table details how cash moves in and out of Heartland Express' 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	-351	-15	6.28	-9.29	-28	7.34	-3.80	-0.25	7.29	-18
Net Cash From Operating Activities	54	82	66	31	27	41	31	40	36	38
Net Cash From Continuing Operating Activities	54	82	66	31	27	41	31	40	36	38
Depreciation Expense	35	51	48	48	51	51	47	46	45	44
Amortization Expense	0.09	0.27	0.27	0.27	0.27	0.26	0.26	0.26	0.26	0.26
Non-Cash Adjustments To Reconcile Net Income	18	12	5.98	-0.01	-11	-19	-15	-4.20	-9.70	-7.55
Changes in Operating Assets and Liabilities, net	1.43	19	12	-18	-13	8.86	-1.06	-2.21	0.08	1.15
Net Cash From Investing Activities	-579	-42	-13	-21	-48	14	1.95	-4.58	4.13	-48
Net Cash From Continuing Investing Activities	-823	-42	-13	-21	-48	14	1.95	-4.58	4.13	-48
Purchase of Property, Plant & Equipment	-41	-69	-42	-66	-69	-32	-4.70	-11	-11	-83
Sale of Property, Plant & Equipment	17	26	29	45	21	43	6.65	5.93	15	35
Other Investing Activities, net	-0.15	0.57	0.49	-0.07	-0.04	3.03	0.00	0.03	-	-0.03
Net Cash From Financing Activities	418	-56	-47	-19	-6.75	-47	-37	-36	-32	-7.90
Net Cash From Continuing Financing Activities	418	-56	-47	-19	-6.75	-47	-37	-36	-32	-7.90
Repayment of Debt	-28	-52	-47	-17	-5.11	-44	-37	-27	-31	-6.30
Payment of Dividends	-1.58	-3.16	-	-	-1.58	-3.16	-	-	-1.57	-1.57
Other Financing Activities, net	-0.01	-0.22	-0.04	-0.11	-0.06	-0.08	-0.06	-0.10	-0.23	-0.02
Cash Interest Paid	0.83	5.40	6.12	5.48	5.17	5.67	5.29	5.37	3.64	3.45
Cash Income Taxes Paid	4.39	11	0.23	26	3.40	1.00	-0.08	5.94	4.17	5.61

This table presents Heartland Express' 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	1,669	1,510	1,334
Total Current Assets	230	169	129
Cash & Equivalents	49	28	13
Accounts Receivable	140	103	92
Prepaid Expenses	11	11	10
Current Deferred & Refundable Income Taxes	3.14	10	2.03
Other Current Assets	26	18	13
Plant, Property, & Equipment, net	973	885	764
Plant, Property & Equipment, gross	1,282	1,320	1,284
Accumulated Depreciation	309	435	520
Total Noncurrent Assets	466	455	440
Goodwill	321	323	323
Intangible Assets	104	99	94
Noncurrent Deferred & Refundable Income Taxes	1.22	1.49	0.95
Other Noncurrent Operating Assets	41	32	23
Total Liabilities & Shareholders' Equity	1,669	1,510	1,334
Total Liabilities	814	644	512
Total Current Liabilities	157	123	120
Short-Term Debt	14	9.30	9.04
Accounts Payable	63	38	35
Accrued Expenses	19	17	19
Current Employee Benefit Liabilities	31	28	27
Other Current Liabilities	30	31	30
Total Noncurrent Liabilities	657	521	392
Long-Term Debt	399	291	192
Asset Retirement Reserve & Litigation Obligation	35	27	34
Noncurrent Deferred Revenue	6.47	6.27	6.23
Noncurrent Deferred & Payable Income Tax Liabilities	208	189	158
Other Noncurrent Operating Liabilities	8.95	8.18	1.75
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	855	865	823
Total Preferred & Common Equity	855	865	823
Preferred Stock	0.00	0.00	0.00
Total Common Equity	855	865	823
Common Stock	5.07	5.43	4.08
Retained Earnings	1,052	1,060	1,024
Treasury Stock	-201	-200	-206

This table presents Heartland Express' 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	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,702	1,613	1,597	1,452	1,413	1,361
Total Current Assets	266	212	199	160	164	157
Cash & Equivalents	65	56	46	24	24	31
Accounts Receivable	163	126	114	108	109	100
Prepaid Expenses	10	11	11	9.42	9.49	9.37
Current Deferred & Refundable Income Taxes	0.00	0.00	7.93	5.13	4.68	1.23
Other Current Assets	28	20	19	14	17	16
Plant, Property, & Equipment, net	968	938	927	841	803	761
Plant, Property & Equipment, gross	1,234	1,280	1,292	1,316	1,317	1,298
Accumulated Depreciation	266	342	365	475	515	537
Total Noncurrent Assets	467	462	471	451	447	444
Goodwill	317	321	321	323	323	323
Intangible Assets	103	102	101	97	96	95
Noncurrent Deferred & Refundable Income Taxes	1.99	1.49	1.56	1.40	1.30	1.16
Other Noncurrent Operating Assets	45	37	47	30	27	25
Total Liabilities & Shareholders' Equity	1,702	1,613	1,597	1,452	1,413	1,361
Total Liabilities	861	746	724	604	577	536
Total Current Liabilities	160	147	148	127	134	135
Short-Term Debt	18	13	13	8.99	8.64	8.73
Accounts Payable	59	47	61	36	40	42
Accrued Expenses	19	16	17	21	24	24
Current Employee Benefit Liabilities	32	32	30	30	28	29
Other Current Liabilities	29	29	27	32	33	31
Total Noncurrent Liabilities	701	599	576	476	443	401
Long-Term Debt	447	353	336	255	229	198
Asset Retirement Reserve & Litigation Obligation	36	34	34	29	31	30
Noncurrent Deferred Revenue	6.40	6.57	6.18	6.24	6.01	6.12
Noncurrent Deferred & Payable Income Tax Liabilities	199	199	194	180	173	164
Other Noncurrent Operating Liabilities	12	6.69	5.05	6.40	4.47	2.80
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	841	867	873	849	837	826
Total Preferred & Common Equity	841	867	873	849	837	826
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	841	867	873	849	837	826
Common Stock	5.21	5.10	4.81	5.43	5.24	4.22
Retained Earnings	1,038	1,063	1,069	1,043	1,038	1,028
Treasury Stock	-202	-201	-201	-200	-207	-206

This table displays calculated financial ratios and metrics derived from Heartland Express' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	59.40%	24.74%	-13.25%
EBITDA Growth	53.49%	-24.64%	-33.05%
EBIT Growth	78.70%	-77.50%	-147.74%
NOPAT Growth	76.33%	-77.30%	-144.91%
Net Income Growth	68.50%	-88.94%	-301.16%
EPS Growth	69.00%	-88.76%	-300.00%
Operating Cash Flow Growth	57.77%	-15.12%	-12.66%
Free Cash Flow Firm Growth	-525.88%	122.21%	-0.88%
Invested Capital Growth	114.10%	-6.72%	-11.13%
Revenue Q/Q Growth	27.16%	-6.18%	-3.03%
EBITDA Q/Q Growth	8.29%	-5.82%	-9.42%
EBIT Q/Q Growth	-0.18%	-26.73%	-91.76%
NOPAT Q/Q Growth	-0.39%	-23.62%	-91.76%
Net Income Q/Q Growth	-3.50%	-41.29%	-30.51%
EPS Q/Q Growth	-3.43%	-40.63%	-35.71%
Operating Cash Flow Q/Q Growth	38.81%	-20.01%	-2.05%
Free Cash Flow Firm Q/Q Growth	4.01%	-91.15%	111.14%
Invested Capital Q/Q Growth	-1.78%	0.00%	0.87%
Profitability Metrics	-	-	-
Gross Margin	37.79%	43.10%	35.49%
EBITDA Margin	33.24%	20.08%	15.50%
Operating Margin	19.46%	3.51%	-1.93%
EBIT Margin	19.46%	3.51%	-1.93%
Profit (Net Income) Margin	13.80%	1.22%	-2.84%
Tax Burden Percent	73.77%	74.42%	81.04%
Interest Burden Percent	96.14%	46.84%	181.24%
Effective Tax Rate	26.23%	25.58%	0.00%
Return on Invested Capital (ROIC)	15.54%	2.68%	-1.32%
ROIC Less NNEP Spread (ROIC-NNEP)	10.33%	-2.60%	-8.09%
Return on Net Nonoperating Assets (RNNOA)	1.34%	-0.96%	-2.20%
Return on Equity (ROE)	16.88%	1.72%	-3.52%
Cash Return on Invested Capital (CROIC)	-57.12%	9.63%	10.47%
Operating Return on Assets (OROA)	14.50%	2.67%	-1.42%
Return on Assets (ROA)	10.28%	0.93%	-2.09%
Return on Common Equity (ROCE)	16.88%	1.72%	-3.52%
Return on Equity Simple (ROE_SIMPLE)	15.62%	1.71%	-3.61%
Net Operating Profit after Tax (NOPAT)	139	32	-14
NOPAT Margin	14.35%	2.61%	-1.35%
Net Nonoperating Expense Percent (NNEP)	5.21%	5.28%	6.77%
Return On Investment Capital (ROIC_SIMPLE)	10.95%	2.71%	-1.38%
Cost of Revenue to Revenue	62.21%	56.90%	64.51%
SG&A Expenses to Revenue	5.31%	5.50%	5.46%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.33%	39.59%	37.42%
Earnings before Interest and Taxes (EBIT)	188	42	-20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	322	242	162
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.40	1.29	1.07
Price to Tangible Book Value (P/TBV)	2.77	2.52	2.17
Price to Revenue (P/Rev)	1.24	0.93	0.84
Price to Earnings (P/E)	8.95	75.75	0.00
Dividend Yield	0.53%	0.56%	0.71%
Earnings Yield	11.17%	1.32%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.28	1.22	1.06
Enterprise Value to Revenue (EV/Rev)	1.61	1.15	1.02
Enterprise Value to EBITDA (EV/EBITDA)	4.85	5.74	6.58
Enterprise Value to EBIT (EV/EBIT)	8.28	32.82	0.00
Enterprise Value to NOPAT (EV/NOPAT)	11.23	44.10	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	8.01	8.42	7.40
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	12.26	9.50
Leverage & Solvency	-	-	-
Debt to Equity	0.48	0.35	0.24
Long-Term Debt to Equity	0.47	0.34	0.23
Financial Leverage	0.13	0.37	0.27
Leverage Ratio	1.64	1.85	1.68
Compound Leverage Factor	1.58	0.87	3.05
Debt to Total Capital	32.56%	25.75%	19.62%
Short-Term Debt to Total Capital	1.10%	0.80%	0.88%
Long-Term Debt to Total Capital	31.46%	24.95%	18.73%
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	67.44%	74.25%	80.38%
Debt to EBITDA	1.28	1.24	1.24
Net Debt to EBITDA	1.13	1.12	1.16
Long-Term Debt to EBITDA	1.24	1.20	1.18
Debt to NOPAT	2.97	9.51	-14.17
Net Debt to NOPAT	2.62	8.62	-13.27
Long-Term Debt to NOPAT	2.87	9.22	-13.53
Altman Z-Score	2.77	2.95	2.85
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.47	1.37	1.08
Quick Ratio	1.21	1.06	0.87
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-511	113	112
Operating Cash Flow to CapEx	0.00%	231.87%	310.14%
Free Cash Flow to Firm to Interest Expense	-59.70	4.69	6.39
Operating Cash Flow to Interest Expense	22.76	6.83	8.21
Operating Cash Flow Less CapEx to Interest Expense	24.18	3.89	5.56
Efficiency Ratios	-	-	-
Asset Turnover	0.75	0.76	0.74
Accounts Receivable Turnover	10.05	9.96	10.78
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	1.33	1.30	1.27
Accounts Payable Turnover	14.47	13.67	18.48
Days Sales Outstanding (DSO)	36.32	36.66	33.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	25.23	26.69	19.75
Cash Conversion Cycle (CCC)	11.09	9.97	14.11
Capital & Investment Metrics	-	-	-
Invested Capital	1,219	1,137	1,011
Invested Capital Turnover	1.08	1.02	0.98
Increase / (Decrease) in Invested Capital	650	-82	-127
Enterprise Value (EV)	1,560	1,391	1,069
Market Capitalization	1,196	1,119	881
Book Value per Share	$10.84	$10.95	$10.48
Tangible Book Value per Share	$5.46	$5.62	$5.18
Total Capital	1,268	1,165	1,023
Total Debt	413	300	201
Total Long-Term Debt	399	291	192
Net Debt	364	272	188
Capital Expenditures (CapEx)	-12	71	47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	38	27	6.12
Debt-free Net Working Capital (DFNWC)	87	55	19
Net Working Capital (NWC)	73	46	9.89
Net Nonoperating Expense (NNE)	5.36	17	16
Net Nonoperating Obligations (NNO)	364	272	188
Total Depreciation and Amortization (D&A)	133	200	183
Debt-free, Cash-free Net Working Capital to Revenue	3.87%	2.23%	0.58%
Debt-free Net Working Capital to Revenue	8.98%	4.56%	1.81%
Net Working Capital to Revenue	7.54%	3.79%	0.94%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.69	$0.19	($0.38)
Adjusted Weighted Average Basic Shares Outstanding	78.94M	79.01M	78.73M
Adjusted Diluted Earnings per Share	$1.69	$0.19	($0.38)
Adjusted Weighted Average Diluted Shares Outstanding	78.97M	79.08M	78.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	78.99M	79.05M	78.55M
Normalized Net Operating Profit after Tax (NOPAT)	67	0.97	-19
Normalized NOPAT Margin	6.97%	0.08%	-1.85%
Pre Tax Income Margin	18.71%	1.64%	-3.50%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	22.02	1.75	-1.15
NOPAT to Interest Expense	16.24	1.30	-0.81
EBIT Less CapEx to Interest Expense	23.44	-1.19	-3.80
NOPAT Less CapEx to Interest Expense	17.67	-1.64	-3.45
Payout Ratios	-	-	-
Dividend Payout Ratio	4.73%	42.79%	-15.88%
Augmented Payout Ratio	4.73%	42.79%	-40.38%

This table displays calculated financial ratios and metrics derived from Heartland Express' 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	79.52%	139.58%	118.75%	63.01%	7.68%	-22.42%	-18.31%	-10.26%	-11.92%	-11.90%
EBITDA Growth	18.84%	46.95%	56.71%	-49.88%	-36.89%	-19.44%	-54.79%	-28.03%	-13.34%	-27.18%
EBIT Growth	4.42%	-1.28%	2.21%	-84.55%	-121.42%	-59.09%	-162.84%	-98.37%	4.05%	-90.45%
NOPAT Growth	5.84%	-2.13%	0.13%	-84.68%	-120.22%	-45.69%	-160.33%	-98.43%	4.05%	-93.34%
Net Income Growth	-0.21%	-23.84%	-24.82%	-89.90%	-143.84%	-67.10%	-219.79%	-144.76%	13.27%	-136.37%
EPS Growth	0.00%	-23.08%	-23.81%	-89.69%	-145.16%	-65.00%	-218.75%	-140.00%	14.29%	-142.86%
Operating Cash Flow Growth	64.17%	196.36%	76.74%	47.33%	-49.68%	-50.32%	-53.38%	29.78%	30.88%	-7.42%
Free Cash Flow Firm Growth	-783.02%	-1,126.76%	-1,807.49%	-8,978.19%	291.38%	114.71%	112.96%	124.78%	-181.46%	37.44%
Invested Capital Growth	117.91%	114.10%	111.91%	78.93%	0.00%	-6.72%	-7.52%	-10.67%	0.00%	-11.13%
Revenue Q/Q Growth	45.87%	29.55%	-6.76%	-7.48%	-3.64%	-6.67%	0.00%	1.64%	-5.42%	-6.65%
EBITDA Q/Q Growth	-46.18%	10.71%	-7.07%	-9.48%	-32.23%	41.30%	0.00%	44.10%	-18.40%	18.73%
EBIT Q/Q Growth	-66.93%	-24.68%	-12.52%	-29.10%	-145.84%	243.88%	0.00%	101.84%	-2,804.17%	114.32%
NOPAT Q/Q Growth	-66.48%	-23.15%	-15.69%	-29.44%	-144.23%	306.40%	0.00%	101.84%	-2,804.17%	114.32%
Net Income Q/Q Growth	-68.25%	-36.56%	-18.57%	-38.38%	-237.73%	147.60%	0.00%	76.98%	-166.91%	80.04%
EPS Q/Q Growth	-68.04%	-35.48%	-20.00%	-37.50%	-240.00%	150.00%	0.00%	78.95%	-200.00%	75.00%
Operating Cash Flow Q/Q Growth	158.39%	52.04%	-19.13%	-53.62%	-11.74%	50.09%	0.00%	29.10%	-10.99%	6.16%
Free Cash Flow Firm Q/Q Growth	-11,469.27%	2.46%	3.96%	16.23%	343.89%	-92.50%	0.00%	60.12%	-901.75%	112.65%
Invested Capital Q/Q Growth	88.92%	-1.78%	-3.44%	-0.14%	-100.00%	0.00%	0.00%	-3.54%	-4.60%	0.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.94%	28.65%	45.35%	44.42%	40.77%	41.43%	40.80%	42.81%	41.82%	14.48%
EBITDA Margin	25.41%	21.72%	21.65%	21.18%	14.89%	22.55%	11.98%	16.98%	14.65%	18.64%
Operating Margin	12.68%	7.37%	6.92%	5.30%	-2.52%	3.89%	-5.32%	0.10%	-2.75%	0.42%
EBIT Margin	12.68%	7.37%	6.92%	5.30%	-2.52%	3.89%	-5.32%	0.10%	-2.75%	0.42%
Profit (Net Income) Margin	8.91%	4.36%	3.81%	2.54%	-3.63%	1.85%	-5.59%	-1.27%	-3.57%	-0.76%
Tax Burden Percent	74.13%	75.64%	72.91%	72.55%	80.89%	100.41%	78.20%	86.47%	83.45%	83.85%
Interest Burden Percent	94.80%	78.25%	75.57%	66.00%	177.84%	47.40%	134.32%	-1,523.48%	155.82%	-216.24%
Effective Tax Rate	25.87%	24.36%	27.09%	27.45%	0.00%	-0.41%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	7.90%	6.04%	6.68%	5.31%	0.00%	4.00%	-3.77%	0.07%	-4.15%	0.29%
ROIC Less NNEP Spread (ROIC-NNEP)	6.88%	1.85%	0.07%	-0.34%	0.00%	2.22%	-5.60%	-1.35%	-9.02%	-0.83%
Return on Net Nonoperating Assets (RNNOA)	1.16%	0.24%	0.01%	-0.03%	0.00%	0.82%	-1.80%	-0.41%	-1.92%	-0.23%
Return on Equity (ROE)	9.06%	6.28%	6.69%	5.29%	0.00%	4.82%	-5.57%	-0.34%	-6.07%	0.06%
Cash Return on Invested Capital (CROIC)	-58.77%	-57.12%	-55.71%	-48.51%	0.00%	9.63%	8.13%	10.59%	-201.47%	10.47%
Operating Return on Assets (OROA)	7.26%	5.49%	6.20%	4.95%	0.00%	2.95%	-3.98%	0.07%	-2.18%	0.31%
Return on Assets (ROA)	5.10%	3.25%	3.42%	2.37%	0.00%	1.41%	-4.18%	-0.94%	-2.83%	-0.56%
Return on Common Equity (ROCE)	9.06%	6.28%	6.69%	5.29%	0.00%	4.82%	-5.57%	-0.34%	-6.07%	0.06%
Return on Equity Simple (ROE_SIMPLE)	16.46%	0.00%	14.93%	6.91%	0.00%	0.00%	-1.53%	-2.89%	-2.76%	0.00%
Net Operating Profit after Tax (NOPAT)	26	20	17	12	-5.21	11	-10	0.18	-5.00	0.72
NOPAT Margin	9.40%	5.58%	5.04%	3.85%	-1.77%	3.90%	-3.72%	0.07%	-1.92%	0.29%
Net Nonoperating Expense Percent (NNEP)	1.03%	4.18%	6.61%	5.66%	0.00%	1.78%	1.83%	1.42%	4.87%	1.12%
Return On Investment Capital (ROIC_SIMPLE)	-	1.56%	-	-	-	0.92%	-	-	-	0.07%
Cost of Revenue to Revenue	55.06%	71.35%	54.65%	55.58%	59.23%	58.57%	59.20%	57.19%	58.18%	85.52%
SG&A Expenses to Revenue	9.63%	-1.17%	9.95%	10.59%	11.45%	-11.88%	11.80%	10.98%	13.04%	-15.98%
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	32.26%	21.28%	38.43%	39.12%	43.30%	37.55%	46.13%	42.72%	44.57%	14.06%
Earnings before Interest and Taxes (EBIT)	35	26	23	16	-7.44	11	-14	0.26	-7.14	1.02
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	77	72	65	44	62	32	47	38	45
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.33	1.40	1.44	1.48	0.00	1.29	0.00	1.16	1.17	1.07
Price to Tangible Book Value (P/TBV)	2.66	2.77	2.81	2.86	0.00	2.52	0.00	2.33	2.36	2.17
Price to Revenue (P/Rev)	1.47	1.24	1.09	1.02	0.90	0.93	0.00	0.87	0.89	0.84
Price to Earnings (P/E)	8.08	8.95	9.64	21.37	45.83	75.75	0.00	0.00	0.00	0.00
Dividend Yield	0.56%	0.53%	0.51%	0.49%	0.55%	0.56%	0.67%	0.65%	0.65%	0.71%
Earnings Yield	12.38%	11.17%	10.37%	4.68%	2.18%	1.32%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.28	1.32	1.35	0.00	1.22	0.00	1.13	1.14	1.06
Enterprise Value to Revenue (EV/Rev)	1.99	1.61	1.36	1.26	0.00	1.15	0.00	1.07	1.06	1.02
Enterprise Value to EBITDA (EV/EBITDA)	5.11	4.85	4.48	5.62	0.00	5.74	0.00	6.42	6.36	6.58
Enterprise Value to EBIT (EV/EBIT)	8.05	8.28	8.25	15.90	0.00	32.82	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.89	11.23	11.21	21.48	0.00	44.10	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	10.83	8.01	6.97	6.81	0.00	8.42	0.00	8.55	7.74	7.40
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	12.26	0.00	10.09	0.00	9.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.48	0.42	0.40	0.00	0.35	0.31	0.28	0.25	0.24
Long-Term Debt to Equity	0.53	0.47	0.41	0.39	0.00	0.34	0.30	0.27	0.24	0.23
Financial Leverage	0.17	0.13	0.08	0.08	0.00	0.37	0.32	0.30	0.21	0.27
Leverage Ratio	1.72	1.64	1.59	1.60	0.00	1.85	1.79	1.76	1.65	1.68
Compound Leverage Factor	1.63	1.28	1.20	1.06	0.00	0.88	2.40	-26.82	2.57	-3.64
Debt to Total Capital	35.61%	32.56%	29.69%	28.55%	0.00%	25.75%	23.70%	22.08%	20.03%	19.62%
Short-Term Debt to Total Capital	1.35%	1.10%	1.08%	1.03%	0.00%	0.80%	0.81%	0.80%	0.85%	0.88%
Long-Term Debt to Total Capital	34.26%	31.46%	28.61%	27.52%	0.00%	24.95%	22.89%	21.28%	19.18%	18.73%
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	64.39%	67.44%	70.31%	71.45%	0.00%	74.25%	76.30%	77.92%	79.97%	80.38%
Debt to EBITDA	1.57	1.28	1.05	1.23	0.00	1.24	1.30	1.28	1.15	1.24
Net Debt to EBITDA	1.35	1.13	0.89	1.07	0.00	1.12	1.18	1.15	0.98	1.16
Long-Term Debt to EBITDA	1.51	1.24	1.01	1.19	0.00	1.20	1.25	1.23	1.11	1.18
Debt to NOPAT	3.33	2.97	2.63	4.71	0.00	9.51	73.66	-31.22	-27.99	-14.17
Net Debt to NOPAT	2.87	2.62	2.23	4.08	0.00	8.62	67.01	-28.07	-23.83	-13.27
Long-Term Debt to NOPAT	3.21	2.87	2.54	4.54	0.00	9.22	71.15	-30.08	-26.81	-13.53
Altman Z-Score	2.22	2.45	2.73	2.87	0.00	2.88	0.00	2.86	2.93	2.90
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	1.67	1.47	1.45	1.34	0.00	1.37	1.26	1.23	1.17	1.08
Quick Ratio	1.43	1.21	1.24	1.09	0.00	1.06	1.03	0.99	0.97	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-646	-630	-605	-507	1,236	93	78	126	-1,007	127
Operating Cash Flow to CapEx	218.80%	193.89%	499.94%	147.51%	56.63%	0.00%	0.00%	866.90%	0.00%	78.71%
Free Cash Flow to Firm to Interest Expense	-275.39	-104.35	-99.58	-82.92	203.71	15.61	14.79	27.45	-237.28	36.76
Operating Cash Flow to Interest Expense	23.05	13.61	10.94	5.04	4.48	6.88	5.84	8.74	8.39	10.91
Operating Cash Flow Less CapEx to Interest Expense	12.51	6.59	8.75	1.62	-3.43	8.72	6.21	7.73	9.36	-2.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.75	0.90	0.93	0.00	0.76	0.75	0.74	0.79	0.74
Accounts Receivable Turnover	6.87	10.05	12.23	12.05	0.00	9.96	9.80	9.99	10.80	10.78
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.04	1.33	1.63	1.76	0.00	1.30	1.29	1.29	1.42	1.27
Accounts Payable Turnover	12.55	14.47	21.60	17.68	0.00	13.67	20.50	16.62	19.61	18.48
Days Sales Outstanding (DSO)	53.13	36.32	29.86	30.30	0.00	36.66	37.25	36.55	33.79	33.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	29.08	25.23	16.90	20.65	0.00	26.69	17.80	21.96	18.61	19.75
Cash Conversion Cycle (CCC)	24.05	11.09	12.96	9.65	0.00	9.97	19.45	14.58	15.18	14.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,241	1,219	1,177	1,175	0.00	1,137	1,089	1,050	1,002	1,011
Invested Capital Turnover	0.84	1.08	1.32	1.38	0.00	1.02	1.01	1.00	2.16	0.98
Increase / (Decrease) in Invested Capital	672	650	622	519	-1,241	-82	-88	-125	1,002	-127
Enterprise Value (EV)	1,519	1,560	1,559	1,591	0.00	1,391	0.00	1,188	1,140	1,069
Market Capitalization	1,118	1,196	1,248	1,288	1,153	1,119	0.00	975	964	881
Book Value per Share	$10.65	$10.84	$10.97	$11.05	$0.00	$10.95	$10.74	$10.59	$10.52	$10.48
Tangible Book Value per Share	$5.33	$5.46	$5.62	$5.71	$0.00	$5.62	$5.43	$5.29	$5.20	$5.18
Total Capital	1,306	1,268	1,233	1,222	0.00	1,165	1,112	1,074	1,033	1,023
Total Debt	465	413	366	349	0.00	300	264	237	207	201
Total Long-Term Debt	447	399	353	336	0.00	291	255	229	198	192
Net Debt	400	364	310	303	0.00	272	240	213	176	188
Capital Expenditures (CapEx)	25	42	13	21	48	-11	-1.95	4.61	-4.13	48
Debt-free, Cash-free Net Working Capital (DFCFNWC)	59	38	24	17	0.00	27	18	15	0.40	6.12
Debt-free Net Working Capital (DFNWC)	124	87	79	63	0.00	55	42	39	31	19
Net Working Capital (NWC)	106	73	66	51	0.00	46	33	30	22	9.89
Net Nonoperating Expense (NNE)	1.34	4.30	4.08	4.00	5.50	5.65	5.04	3.66	4.29	2.57
Net Nonoperating Obligations (NNO)	400	364	310	303	0.00	272	240	213	176	188
Total Depreciation and Amortization (D&A)	35	51	49	49	51	51	47	46	45	44
Debt-free, Cash-free Net Working Capital to Revenue	7.77%	3.87%	2.05%	1.36%	0.00%	2.23%	1.56%	1.35%	0.04%	0.58%
Debt-free Net Working Capital to Revenue	16.29%	8.98%	6.89%	5.01%	0.00%	4.56%	3.63%	3.49%	2.88%	1.81%
Net Working Capital to Revenue	13.97%	7.54%	5.73%	4.01%	0.00%	3.79%	2.85%	2.71%	2.07%	0.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	$0.20	$0.16	$0.10	$0.00	$0.07	($0.19)	($0.04)	($0.12)	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	78.94M	78.94M	78.99M	79.00M	0.00	79.01M	79.04M	78.91M	78.49M	78.73M
Adjusted Diluted Earnings per Share	$0.31	$0.20	$0.16	$0.10	$0.00	$0.07	($0.19)	($0.04)	($0.12)	($0.03)
Adjusted Weighted Average Diluted Shares Outstanding	78.97M	78.97M	79.02M	79.08M	0.00	79.08M	79.12M	78.98M	78.50M	78.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	157.88M	78.99M	157.98M	158.05M	0.00	79.05M	158.10M	156.99M	78.50M	78.55M
Normalized Net Operating Profit after Tax (NOPAT)	21	17	12	5.96	-5.95	-10	-10	-0.60	-5.33	-3.48
Normalized NOPAT Margin	7.55%	4.70%	3.55%	1.95%	-2.02%	-3.69%	-3.70%	-0.22%	-2.05%	-1.44%
Pre Tax Income Margin	12.02%	5.77%	5.23%	3.50%	-4.48%	1.84%	-7.15%	-1.46%	-4.28%	-0.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.82	4.34	3.77	2.66	-1.23	1.80	-2.71	0.06	-1.68	0.30
NOPAT to Interest Expense	10.98	3.28	2.75	1.93	-0.86	1.81	-1.90	0.04	-1.18	0.21
EBIT Less CapEx to Interest Expense	4.28	-2.69	1.58	-0.76	-9.14	3.64	-2.34	-0.95	-0.71	-13.57
NOPAT Less CapEx to Interest Expense	0.45	-3.74	0.56	-1.49	-8.77	3.65	-1.53	-0.97	-0.20	-13.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.11%	4.73%	0.00%	10.48%	25.12%	42.79%	0.00%	-26.13%	-27.72%	-15.88%
Augmented Payout Ratio	33.54%	4.73%	0.00%	10.48%	25.12%	42.79%	0.00%	-56.23%	-59.69%	-40.38%

Frequently Asked Questions About Heartland Express' Financials

When does Heartland Express's fiscal year end?

According to the most recent income statement we have on file, Heartland Express' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Heartland Express' net income changed over the last 2 years?

Heartland Express' net income appears to be on a downward trend, with a most recent value of -$29.72 million in 2024, falling from $133.58 million in 2022. The previous period was $14.78 million in 2023.

What is Heartland Express's operating income?

Heartland Express's total operating income in 2024 was -$20.24 million, based on the following breakdown:

Total Gross Profit: $371.74 million
Total Operating Expenses: $391.97 million

How has Heartland Express revenue changed over the last 2 years?

Over the last 2 years, Heartland Express' total revenue changed from $968.00 million in 2022 to $1.05 billion in 2024, a change of 8.2%.

How much debt does Heartland Express have?

Heartland Express' total liabilities were at $511.59 million at the end of 2024, a 20.6% decrease from 2023, and a 37.2% decrease since 2022.

How much cash does Heartland Express have?

In the past 2 years, Heartland Express' cash and equivalents has ranged from $12.81 million in 2024 to $49.46 million in 2022, and is currently $12.81 million as of their latest financial filing in 2024.

How has Heartland Express' book value per share changed over the last 2 years?

Over the last 2 years, Heartland Express' book value per share changed from 10.84 in 2022 to 10.48 in 2024, a change of -3.3%.

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This page (NASDAQ:HTLD) was last updated on 4/17/2025 by MarketBeat.com Staff

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Heartland Express (HTLD) Financials

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Heartland Express (HTLD) Financials

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