May 2026
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Largest Road Transportation Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Old Dominion Freight Line, XPO, Saia, Knight-Swift and U-Haul.
 | Old Dominion Freight Line is the second-largest less-than-truckload carrier in the United States (following FedEx Freight), with more than 250 service centers and 11,000-plus tractors. It is one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns are well above those of its peers. Strategic initiatives focus on increasing network density through market-share gains and on maintaining industry-leading service (including ultralow cargo claims) through steadfast infrastructure investment. | $229 | +41% | $48B | $47B | 8.6x | 27.4x | ||
| Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. We estimate LTL shipping makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. However, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer. | $221 | +75% | $26B | $30B | 3.6x | 23.5x | ||
| Saia ranks among the 10 largest less-than-truckload carriers in the United States, with more than 200 facilities and a fleet of more than 6,500 tractors and 26,000 trailers. As a national LTL carrier, the firm offers time-definite and expedited options for shipments ranging between 100 and 10,000 pounds. Saia ranks among the top-tier providers in terms of profitability. | $482 | +76% | $13B | $13B | 4.0x | 21.7x | ||
| Knight-Swift Transportation is the largest full-truckload carrier in the US, with a diversified transportation offering. Pro forma for the US Xpress deal, about 82% of revenue derives from Knight’s asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) making up 69% and less than truckload 13%. Truck brokerage and other asset-light logistics services make up 9% of revenue, with intermodal near 6%. Knight's intermodal operations use the Class I railroads for the underlying movement of its shipping containers and include drayage (regional trucking services to and from inland intermodal ramps/terminals). The remainder of revenue reflects services offered to shippers and third-party truckers, including equipment maintenance and leasing. | $78 | +76% | $13B | $15B | 2.0x | 13.6x | ||
| U-Haul Holding Co is an American moving truck, trailer, and self-storage rental company. The company also provides moving boxes, packing supplies, LPG (propane) refills, trailer hitch and wiring installation, storage container rentals, and other services. It has three reportable segments Moving and Storage, Property and Casualty Insurance, and Life Insurance. The majority of its revenue comes from the Moving and Storage segment. | $51 | -7% | $10B | $16B | 2.7x | 9.1x | ||
| Schneider National Inc is a provider of surface transportation and logistics solutions in North America. The Company offers truckload, LTL carriers, railroads, ocean carriers, airlines to a diverse customer base throughout the continental United States, Canada, and Mexico. The company's segments include Truckload, Intermodal, Logistics and other. It generates maximum revenue from the Truckload segment. | $36 | +51% | $6B | $7B | 1.1x | 10.4x | ||
| RXO Inc is a brokered transportation platform defined by technology and a nimble, asset-light business model, with the component being core truck brokerage business. Its operations also include three asset-light, brokered transportation services, all of which complement its truck brokerage business: managed transportation, last mile and freight forwarding. The company operates into one reportable segment. The operates within the transportation industry and in the same geography North America. | $27 | +71% | $4B | $5B | 0.9x | 46.9x | ||
| ArcBest Corp is an integrated logistics company that leverages technology and a full suite of shipping and logistics solutions to meet customers' supply chain needs. The company has two reportable operating segments: Asset-Based, which generates maximum revenue, and Asset-Light. The Asset-Based segment's operations include national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services. The Asset-Light segment represents the company's offerings in ground expedite, intermodal, household goods moving, managed transportation, warehousing and distribution, and international freight transportation for air, ocean, and ground. | $141 | +83% | $3B | $4B | 0.9x | 12.6x | ||
| Werner Enterprises Inc is a transportation and logistics company. The company has two reportable segments - Truckload Transportation Services and Werner Logistics. It derives majority of its revenue from full-truckload transportation services and geographically from United States. | $43 | +55% | $3B | $4B | 1.2x | 11.2x | ||
| Marten Transport Ltd is a temperature-sensitive truckload carrier in the United States. The company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage, generating the majority of its revenue from the Truckload segment. The Truckload segment offers a mix of regional short-haul and medium- to long-haul full-load transportation services. | $18 | +35% | $1B | $1B | 1.5x | 10.6x | ||
| Heartland Express Inc is engaged in providing truckload services across the United States, Mexico, and Canada. These truckload services are asset-based transportation services in the dry van truckload market. The company offers truckload temperature-controlled transportation services, and Mexico logistics services. A majority of its customers represent the consumer goods, appliances, food products, and automotive industries. | $16 | +80% | $1B | $1B | 1.6x | 12.3x | ||
| Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment. | $41 | +70% | $1B | $1B | 1.1x | 9.4x | ||
| Verra Mobility Corp is a provider of smart mobility technology solutions, principally operating throughout the United States, Australia, Europe, and Canada. The company develops and uses technology and data intelligence to help make transportation safer and easier. It operates in three reportable segments: Commercial Services, Government Solutions, and Parking Solutions. Maximum revenue is generated from the Commercial Services segment, which offers toll and violation management solutions and title and registration services for commercial fleet customers, including RACs and FMCs in North America. In Europe, it provides tolling and violations processing services. | $5 | -81% | $741M | $2B | 1.8x | 4.3x | ||
| Next10 Inc is engaged in the business of freight hauling. The majority of the products hauled are refrigerated and frozen food products. The company generates revenue from the freight shipments and also from leasing equipment to their independent owner-operators. The company's business model is designed to grow fleet rapidly over the next several years by attracting new drivers through referrals from current independent owner-operators. It operates in a competitive transportation industry, which includes thousands of trucking and logistics companies. | $2 | +365% | $449M | $449M | - | - | ||
| Universal Logistics Holdings Inc is an asset-light provider of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia. It offers services such as truckload, brokerage, intermodal, dedicated, and value-added services. The company reports into four segments namely trucking, intermodal, company-managed brokerage, and contract logistics. The majority of the revenue is earned from the contract logistics segment. | $16 | -36% | $427M | $1B | 0.9x | 6.4x | ||
| PAMT Corp is a holding company that is engaged in providing truckload dry van carriers transporting general commodities throughout the continental United States, as well as the Canadian provinces of Ontario and Quebec. It has one reportable segment being motor carrier. | $14 | +4% | $291M | $530M | 0.9x | 17.4x | ||
| CreateAI Holdings Inc is an applied artificial intelligence (AI) company that leverages research and integrates cutting-edge solutions with end-market applications to deliver tangible commercial value. It has developed AI solutions for autonomous trucking expertise to develop digital entertainment content for an audience. The Company has developed and launched its proprietary image-to-video model, Ruyi. This model continues to be developed and optimized for anime, comics, and gaming content development. It is also developing other generative AI tools that support its video games and anime projects. | $0 | -16% | $62M | $62M | - | - | ||
| Median | $36 | +55% | $3B | $4B | 1.5x | 12.3x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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