J.B. Hunt Transport Services, Inc.JBHT
NasdaqGS•Industrials•Integrated Freight & Logistics
J.B. Hunt Transport Services, Inc. provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal, Dedicated Contract Services, Integrated Capacity Solutions, Final Mile Services, and Truckload. The JBI segment offers intermodal freight solutions. It operates 124,838 pieces of company-owned trailing equipment; owns and maintains its chassis fleet of 104,474 units; and manages a fleet of 5,880 company-owned tractors, 308 independent contractor trucks, and 8,704 company drivers. The DCS segment designs, develops, and executes supply chain solutions that support various transportation networks. As of December 31, 2025, it operated 11,878 company-owned trucks, 761 customer-owned trucks, and a contractor trucks. It operates 26,767 owned pieces of trailing equipment and 5,218 customer-owned trailers. The ICS segment provides freight brokerage and transportation logistics solutions; flatbed, refrigerated, expedited, and less-than-truckload, as well as dry-van and intermodal solutions; online multimodal marketplace; and logistics management services for customers to outsource their transportation functions. The FMS segment delivers services through 1,085 company-owned trucks, 169 customer-owned trucks, and 39 independent contractor trucks; and 1,091 owned pieces of trailing equipment and 98 customer-owned trailers. The JBT segment provides dry-van freight services by utilizing tractors and trailers operating over roads and highways through two company-owned tractors and 12,658 company-owned trailers. It transports or arranges for the transportation of freight, such as general merchandise, specialty consumer items, appliances, home furnishings, forest, paper, rubber, plastic products, food, beverages, building materials, apparel, accessories, soaps, cosmetics, automotive parts, agricultural products, electronics, and chemicals. The company was incorporated in 1961 and is headquartered in Lowell, Arkansas.
J.B. Hunt Transport Services, I (JBHT) reported trailing twelve months revenue of $12.13B as of March 2026, a 0.6% increase year-over-year. Quarterly revenue reached $3.06B, reflecting continued top-line momentum.
J.B. Hunt Transport Services, I generated $622.10M in TTM net income, with quarterly EBITDA of $386.46M. The operating margin expanded from 6.1% to 6.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (6.8%) and net margin (4.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 4.0% a year ago, signaling stronger bottom-line efficiency.
JBHT trades at a P/E of 31.1x (a premium multiple) and a P/S of 1.6x. The price-to-book ratio of 5.4x indicates a significant premium over book value.
The company generated $242.77M in free cash flow over the trailing twelve months, a 53.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $7.93B in total assets with $1.30B in long-term debt against $3.59B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~7.1% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE averages 15.4% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~7.4% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 59.2% recently — increasing financial risk even if the current ratio is manageable.
Revenue has softened, declining in 6 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 7.7% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation