Knight-Swift Transportation Holdings Inc.

knight-swift.com

What Do They Do?

Moves freight for large retail, consumer-goods, and industrial shippers using truckload, less-than-truckload, and complementary transportation services.

How Do They Make Money?

Shippers pay for freight transportation, with charges that can include mileage, fuel surcharges, and added service fees; payment generally comes within contractual terms of 30 to 60 days.

revenue

Segment	Share	Revenue
Revenue, excluding truckload and LTL fuel surcharge	90% FY2022: 88%
Truckload and LTL fuel surcharge	10% FY2022: 12%

Who Are Their Customers?

Customers are typically large companies in retail and consumer goods, transportation and logistics, and industrial sectors. Dedicated routes are arranged under multi-year agreements.

Do Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in FY2025.

Operating income, FY2025

3% of revenue

▼ −11% vs FY2024 ($243.4M, 3%)

Net income, FY2025

1% of revenue

▼ −44% vs FY2024 ($117.6M, 2%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +13%; vs $1.9B in Q2 FY2025
Net income: ▲ +26%; vs $34.2M in Q2 FY2025

Revenue, excluding truckload and LTL fuel surcharge share of revenue vs 89.8% in Q2 FY2025

Jun 4, 2026 Kevin Knight resigned as executive chair; David Vander Ploeg became chair

Growing. Revenue grew 25% in 4 years, from $6B in FY2021 to $7.5B in FY2025, about 6% a year.

Revenue over time

Revenue, excluding truckload and LTL fuel surcharge Truckload and LTL fuel surcharge

$10B$5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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