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Trucking · Industrials · Fiscal year ends Dec 31
SAIA reported revenue of $3.2B in the fiscal year ended Dec 2025, up 0.8% from the year before. Operating income was $352M, an operating margin of 10.9%, and net income was $255M. Operating cash flow of $595M less capital expenditure of $568M left free cash flow of $27M. Net debt was $143M.
Ranks among the 10 trucking companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,289 | 2,792 | 2,881 | 3,209 | 3,234 |
| Operating income | 335 | 470 | 460 | 482 | 352 |
| Interest expense | 3.2 | 2.6 | 2.5 | 8.9 | 16.4 |
| Pre-tax income | 333 | 468 | 466 | 476 | 337 |
| Income tax | 79.5 | 111 | 111 | 114 | 82.4 |
| Net income | 253 | 357 | 355 | 362 | 255 |
| Diluted EPS | 9.48 | 13.40 | 13.26 | 13.51 | 9.52 |
| Diluted shares | 26.7 | 26.7 | 26.8 | 26.8 | 26.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 107 | 187 | 296 | 19.5 | 19.7 |
| Receivables | 277 | 290 | 312 | 323 | 332 |
| Current assets | 416 | 531 | 649 | 436 | 435 |
| Net PP&E | 1,280 | 1,483 | 1,763 | 2,557 | 2,844 |
| Goodwill | 12.1 | 12.1 | 12.1 | 12.1 | 12.1 |
| Total assets | 1,845 | 2,175 | 2,584 | 3,167 | 3,483 |
| Payables | 114 | 99.8 | 142 | 115 | 107 |
| Current liabilities | 321 | 274 | 322 | 278 | 265 |
| Long-term debt | 0.0 | 0.0 | 0.0 | 194 | 163 |
| Total liabilities | 625 | 595 | 642 | 856 | 905 |
| Shareholders' equity | 1,220 | 1,579 | 1,941 | 2,311 | 2,578 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 383 | 473 | 578 | 584 | 595 |
| Capital expenditure | 286 | 367 | 440 | 1,044 | 568 |
| Free cash flow | 96.8 | 106 | 138 | −460 | 27.3 |
| Depreciation & amortisation | 142 | 157 | 179 | 210 | 249 |
| Stock-based compensation | 8.7 | 8.8 | 11.6 | 14.2 | 17.4 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 22.0% | 3.2% | 11.4% | 0.8% |
| Operating income growth (YoY) | – | 40.4% | −2.1% | 4.7% | −27.0% |
| EPS growth (YoY) | – | 41.4% | −1.0% | 1.9% | −29.5% |
| Operating margin | 14.6% | 16.9% | 16.0% | 15.0% | 10.9% |
| Net margin | 11.1% | 12.8% | 12.3% | 11.3% | 7.9% |
| Return on equityBlank when equity is negative | 20.8% | 22.6% | 18.3% | 15.7% | 9.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 22.0% | 24.8% | 20.4% | 16.7% | 10.9% |
| Free cash flow margin | 4.2% | 3.8% | 4.8% | −14.3% | 0.8% |
| Cash conversion (CFO ÷ net income) | 1.51x | 1.32x | 1.63x | 1.61x | 2.33x |
| Receivable days | 44 | 38 | 39 | 37 | 37 |
| Interest cover | 104x | 180x | 182x | 54.0x | 21.4x |
| Debt ÷ equity | 0.00x | 0.00x | 0.00x | 0.08x | 0.06x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −107 | −187 | −296 | 175 | 143 |
| Current ratio | 1.30x | 1.94x | 2.01x | 1.57x | 1.64x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.