Knight-Swift Transportation Holdings Inc. (KNX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-46.1%

$33.49

vs $62.14 price

Levered DCF

$26.22

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.25

Grey zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	127.51×	72.66×	42.7×	11.03×	13.6×	17.28×	19.91×	10.58×
P/B	1.2×	1.21×	1.31×	1.22×	1.55×	1.21×	1.09×	0.81×
P/S	1.14×	1.16×	1.3×	1.14×	1.69×	1.52×	1.27×	0.83×
EV / EBITDA	10.6×	10.74×	11.36×	5.9×	7.98×	7.39×	7.94×	5.18×
Gross margin	28.3%	24.3%	27.5%	32.5%	32.8%	31.2%	26.6%	25.6%
Operating margin	3.4%	3.3%	4.7%	14.7%	16.1%	12.1%	8.8%	10.6%
Net margin	0.9%	1.6%	3.0%	10.4%	12.4%	8.8%	6.4%	7.8%
Current ratio	0.86×	0.85×	0.94×	1.67×	1.32×	1.1×	0.9×	1.48×
Debt / equity	0.41×	0.4×	0.38×	0.24×	0.3×	0.18×	0.16×	0.13×
Interest coverage	1.55×	1.42×	2.66×	21.49×	45.68×	32.61×	14.52×	18.86×
Dividend yield	1.4%	1.2%	1.0%	0.9%	0.6%	0.8%	0.7%	1.0%
Payout ratio	178.1%	88.5%	42.0%	10.2%	8.5%	13.3%	13.4%	10.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.9%	1.7%	3.1%	11.1%	11.4%	7.0%	5.5%	7.7%
Return on invested capital	1.5%	1.6%	2.2%	8.0%	7.3%	5.1%	4.1%	5.9%
Return on assets	0.6%	0.9%	1.6%	6.9%	6.9%	4.8%	3.7%	5.3%
Free cash flow yield	9.0%	-0.2%	1.0%	7.5%	6.5%	5.6%	0.2%	2.8%
Earnings yield	0.8%	1.4%	2.3%	9.1%	7.4%	5.8%	5.0%	9.4%
Enterprise value	$11.1B	$11B	$11.5B	$9.8B	$11.7B	$7.9B	$6.8B	$5B
Net debt / EBITDA	2.48×	2.39×	2.18×	0.78×	1.1×	0.78×	0.8×	0.58×
Cash conversion cycle (days)	4	20	24	29	37	35	31	32