Pulling SEC filings + quote and writing the call…
Pulling SEC filings + quote and writing the call…

LANDSTAR SYSTEM INC
Next earnings Jul 28, 2026 · consensus $1.50 EPS, $1.35B rev
Last earnings +1.3% on 2026-04-28
Debt-free asset-light truck broker in a deep freight recession; the 63x P/E reflects trough earnings, not a rich franchise.
Sources: SEC EDGAR (CIK 0000853816, latest 10-Q filed 2026-04-29) · EODHD · analysis by claude-code · as of 6/21/2026, 8:54:12 PM.
Research and education only — not financial advice. Calls are generated from SEC filings and a delayed/third-party price feed, may be wrong or out of date, and are not a recommendation to buy or sell any security. Do your own research.
Middling fundamentals and a rich price (~87% above fair value) leave little margin of safety — a wait-and-see.
Landstar is an asset-light truckload broker that matches freight with independent agents and owner-operator capacity, carrying virtually no trucks on its balance sheet. The model's quality shows in the balance sheet — zero long-term debt, $397M cash, $1.22B current assets and a 14.5% ROE even in a down year. The problem is the freight cycle: revenue fell 1.6% to $4.74B but, more tellingly, has nearly halved from the $7.44B 2022 peak, and net income has declined three straight years from $431M to $264M to $196M to $115M in FY2025 (EPS -39.9% to $3.31). Operating margin compressed to just 3.2% as soft volumes and weak spot rates squeezed the per-load economics.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $6.54B | $7.44B | $5.30B | $4.82B | $4.74B |
| Gross profit | — | — | — | — | — |
| Operating income | $506M | $571M | $344M | $249M | $152M |
| Net income | $382M | $431M | $264M | $196M | $115M |
| Diluted EPS | $9.98 | $11.76 | $7.36 | $5.51 | $3.31 |
| Net margin | 5.8% | 5.8% | 5.0% | 4.1% | 2.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
1482 tracked peers · median
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Last 90 days: 0 open-market buys · 2 sales
| 2026-06-15 | Todd James P VP and CFO | Sell | 1.20K @ $218.17 | $262K |
| 2026-06-05 | MURPHY DIANA M Director | Sell | 11.2K @ $221.28 | $2.49M |
| 2026-05-06 | WHITE TERESA L Director | Award | 825.00 | |
| 2026-05-06 | Scanlon George P Director | Award | 825.00 | |
| 2026-05-06 | MURPHY DIANA M Director | Award | 825.00 | |
| 2026-05-06 | Liang James L Director | Award | 825.00 | |
| 2026-05-06 | HART MELANIE M Director | Award | 825.00 | |
| 2026-05-06 | Blanton Jonathan Barr Director | Award | 825.00 |