LS
Landstar System Inc
LSTR—
Landstar System Inc AI Insights
Informational only. Not investment advice.Snapshot
- ROIC of 12.8% TTM vs industry median 4.5% - nearly 3x capital efficiency with minimal asset base (capex just 14M)[Return on Invested Capital]
- FCF of 199M TTM (4.2% yield) while industry median is NEGATIVE - asset-light model generates cash peers cannot[Free Cash Flow]
- Revenue down 12.8% 3Y CAGR vs industry -4.5% - freight recession hitting harder than peers[Total Revenue 3-Year Growth]
Watch Triggers
- Total Revenue TTM: Sequential quarterly growth turns positive — Signals freight cycle inflection - operating leverage should amplify earnings recovery
- Operating Margin TTM: Falls below 3% (industry median) — Would indicate structural cost issues, not just cyclical pressure
- Free Cash Flow TTM: Drops below 150M or turns negative — Asset-light thesis depends on consistent FCF generation through cycles
Bull Case
Asset-light brokerage model: 14M capex vs 232M industry median generates 199M FCF - 14x capital efficiency enables consistent shareholder returns through cycles
Free Cash Flow TTMCapital Expenditure TTMROIC TTM
Fortress balance sheet: 375M cash, 0.14 debt/equity positions for opportunistic M&A or accelerated buybacks at cycle bottom
Cash and EquivalentsDebt to EquityWorking Capital
Bear Case
Revenue decline of 12.8% 3Y CAGR (3x worse than industry -4.5%) suggests market share loss, not just cycle - premium valuation at risk
Total Revenue 3-Year GrowthTotal Revenue TTM
P/E of 35x and P/CF of 24x vs industry medians of 30x and 7.6x - priced for recovery that may not materialize
P/E RatioP/CF RatioP/S Ratio
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Margin expansion likely as freight cycle recovers - operating leverage intact despite volume decline
1-3ymed
- Operating margin 4.1% TTM held above industry 3.1% despite 12.8% revenue decline
- Asset-light model (14M capex) means minimal fixed cost drag
- 375M cash provides M&A optionality at cycle trough
Operating margin TTM 4.1% vs industry median 3.1%Capex TTM 14M vs industry median 232MDebt/equity 0.14 vs cash 375M
Valuation Context
Caveats
Public Strategies Rankings
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LSTR Fundamentals
Transportation and Warehousing → Truck Transportation
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$5.31B | — | ||
$5.06B | — | ||
36 | — | ||
$4.78B | -0.7% | — | |
$4.25 | -23.0% | — | |
4.09% | -1.1% | — | |
2.87% | -1.4% | — | |
$198.88M | -29.2% | — | |
0.14 | -5.8% | — | |
Beta 5Y (Monthly) | unknown | — |
LSTR Dividend History
89 dividends
2026
$2.000001/06/26$2.0000
2025
$3.560011/18/25$0.4000
08/19/25$0.4000
06/05/25$0.4000
02/18/25$0.3600
01/07/25$2.0000
2024
$3.380011/19/24$0.3600
08/20/24$0.3600
05/07/24$0.3300
02/09/24$0.3300
01/02/24$2.0000
2023
$3.260011/06/23$0.3300
08/09/23$0.3300
05/03/23$0.3000
02/10/23$0.3000
01/05/23$2.0000
2022
$3.100011/07/22$0.3000
08/05/22$0.3000
05/04/22$0.2500
02/11/22$0.2500
01/06/22$2.0000
2021
$2.920011/08/21$0.2500
08/06/21$0.2500
05/05/21$0.2100
02/11/21$0.2100
01/07/21$2.0000
2020
$2.790011/09/20$0.2100
08/07/20$0.2100
05/06/20$0.1850
02/13/20$0.1850
01/09/20$2.0000
2019
$0.700011/08/19$0.1850
08/09/19$0.1850
05/08/19$0.1650
02/14/19$0.1650
2018
$2.130011/09/18$0.1650
08/10/18$0.1650
05/09/18$0.1500
02/15/18$0.1500
01/11/18$1.5000
2017
$0.380011/13/17$0.1000
08/10/17$0.1000
05/09/17$0.0900
02/15/17$0.0900
2016
$0.340011/04/16$0.0900
08/04/16$0.0900
05/03/16$0.0800
02/10/16$0.0800
2015
$1.300011/06/15$0.0800
08/06/15$0.0800
05/05/15$0.0700
02/11/15$0.0700
01/08/15$1.0000
2014
$0.260011/06/14$0.0700
08/07/14$0.0700
05/06/14$0.0600
02/13/14$0.0600
2013
$0.350012/24/13$0.3500
2012
$0.730012/13/12$0.5000
11/08/12$0.0600
08/09/12$0.0600
05/08/12$0.0550
02/15/12$0.0550
2011
$0.210011/04/11$0.0550
08/04/11$0.0550
05/03/11$0.0500
02/10/11$0.0500
2010
$0.190010/28/10$0.0500
08/05/10$0.0500
05/04/10$0.0450
02/03/10$0.0450
2009
$0.170010/29/09$0.0450
08/06/09$0.0450
05/05/09$0.0400
02/04/09$0.0400
2008
$0.155010/30/08$0.0400
08/07/08$0.0400
05/07/08$0.0375
02/06/08$0.0375
2007
$0.135011/07/07$0.0375
08/08/07$0.0375
05/08/07$0.0300
02/09/07$0.0300
2006
$0.110011/08/06$0.0300
08/08/06$0.0300
05/08/06$0.0250
02/10/06$0.0250
2005
$0.050011/08/05$0.0250
08/15/05$0.0250
LSTR Stock Splits
3 stock splits
01/10/050.5:1 split
11/14/030.5:1 split
08/13/020.5:1 split
LSTR SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/28/25 | 09/27/25 | 10-Q | |
07/29/25 | 06/28/25 | 10-Q | |
05/13/25 | 03/29/25 | 10-Q | |
02/24/25 | 12/28/24 | 10-K | |
10/30/24 | 09/28/24 | 10-Q | |
07/31/24 | 06/29/24 | 10-Q | |
05/03/24 | 03/30/24 | 10-Q | |
02/26/24 | 12/30/23 | 10-K | |
11/03/23 | 09/30/23 | 10-Q | |
08/04/23 | 07/01/23 | 10-Q | |
05/05/23 | 04/01/23 | 10-Q | |
02/24/23 | 12/31/22 | 10-K | |
10/28/22 | 09/24/22 | 10-Q | |
07/29/22 | 06/25/22 | 10-Q | |
04/29/22 | 03/26/22 | 10-Q | |
02/18/22 | 12/25/21 | 10-K | |
10/29/21 | 09/25/21 | 10-Q | |
07/30/21 | 06/26/21 | 10-Q | |
04/30/21 | 03/27/21 | 10-Q | |
02/23/21 | 12/26/20 | 10-K | |
10/30/20 | 09/26/20 | 10-Q | |
07/31/20 | 06/27/20 | 10-Q | |
05/01/20 | 03/28/20 | 10-Q | |
02/21/20 | 12/28/19 | 10-K | |
11/01/19 | 09/28/19 | 10-Q | |
08/02/19 | 06/29/19 | 10-Q | |
05/03/19 | 03/30/19 | 10-Q | |
02/22/19 | 12/29/18 | 10-K | |
11/02/18 | 09/29/18 | 10-Q | |
08/03/18 | 06/30/18 | 10-Q | |
05/04/18 | 03/31/18 | 10-Q | |
02/23/18 | 12/30/17 | 10-K | |
11/03/17 | 09/30/17 | 10-Q | |
08/04/17 | 07/01/17 | 10-Q | |
05/05/17 | 04/01/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
10/28/16 | 09/24/16 | 10-Q | |
07/29/16 | 06/25/16 | 10-Q | |
04/29/16 | 03/26/16 | 10-Q | |
02/19/16 | 12/26/15 | 10-K | |
10/30/15 | 09/26/15 | 10-Q | |
07/31/15 | 06/27/15 | 10-Q | |
05/01/15 | 03/28/15 | 10-Q | |
02/23/15 | 12/27/14 | 10-K | |
10/31/14 | 09/27/14 | 10-Q | |
08/01/14 | 06/28/14 | 10-Q | |
05/02/14 | 03/29/14 | 10-Q | |
02/21/14 | 12/28/13 | 10-K | |
11/01/13 | 09/28/13 | 10-Q | |
08/02/13 | 06/29/13 | 10-Q | |
05/03/13 | 03/30/13 | 10-Q | |
02/21/13 | 12/29/12 | 10-K | |
11/02/12 | 09/29/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/10/12 | 03/31/12 | 10-Q | |
02/24/12 | 12/31/11 | 10-K | |
10/28/11 | 09/24/11 | 10-Q | |
07/29/11 | 06/25/11 | 10-Q | |
04/29/11 | 03/26/11 | 10-Q | |
02/23/11 | 12/25/10 | 10-K | |
10/29/10 | 09/25/10 | 10-Q | |
07/30/10 | 06/26/10 | 10-Q | |
04/30/10 | 03/27/10 | 10-Q | |
02/23/10 | 12/26/09 | 10-K | |
10/30/09 | 09/26/09 | 10-Q | |
07/31/09 | 06/27/09 | 10-Q | |
05/01/09 | 03/28/09 | 10-Q | |
02/25/09 | 12/27/08 | 10-K | |
10/31/08 | 09/27/08 | 10-Q | |
08/01/08 | 06/28/08 | 10-Q | |
05/02/08 | 03/29/08 | 10-Q | |
02/26/08 | 12/29/07 | 10-K | |
11/02/07 | 09/29/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/04/07 | 03/31/07 | 10-Q | |
02/28/07 | 12/30/06 | 10-K | |
11/03/06 | 09/30/06 | 10-Q | |
08/07/06 | 07/01/06 | 10-Q | |
05/05/06 | 04/01/06 | 10-Q | |
03/10/06 | 12/31/05 | 10-K | |
11/03/05 | 09/24/05 | 10-Q | |
07/29/05 | 06/25/05 | 10-Q | |
05/02/05 | 03/26/05 | 10-Q | |
02/28/05 | 12/25/04 | 10-K | |
11/01/04 | 09/25/04 | 10-Q | |
07/30/04 | 06/26/04 | 10-Q | |
04/30/04 | 03/27/04 | 10-Q | |
03/04/04 | 12/27/03 | 10-K | |
11/04/03 | 09/27/03 | 10-Q | |
08/08/03 | 06/28/03 | 10-Q | |
05/09/03 | 03/29/03 | 10-Q | |
03/12/03 | 12/28/02 | 10-K | |
11/01/02 | 09/28/02 | 10-Q | |
08/08/02 | 06/29/02 | 10-Q | |
05/13/02 | 03/30/02 | 10-Q | |
03/21/02 | 12/29/01 | 10-K | |
11/09/01 | 09/29/01 | 10-Q | |
08/10/01 | 06/30/01 | 10-Q | |
05/03/01 | 03/31/01 | 10-Q | |
03/21/01 | 12/30/00 | 10-K | |
11/03/00 | 09/23/00 | 10-Q | |
07/26/00 | 06/24/00 | 10-Q | |
04/26/00 | 03/25/00 | 10-Q |