LSTR Financials Landstar System Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 2.8% per year over the past 5 years.
Net income has grown slower than revenue (-9.8% vs 2.8% per year).
Operating margin has contracted, at 3.2% in the latest year.
Free cash flow has grown 3.6% per year over the past 5 years.

Financial health

The company holds more cash ($397M) than total debt ($0).
Operating income covered interest expense 27× in the latest year.

Shareholder returns

Dividends have been paid for 12 consecutive years, consuming 108.5% of earnings and 58.0% of free cash flow.
The dividend has grown 2.6% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$4.7B	$115M	0.0%	3.2%	14.5%	7.0%	$215M	$0	$397M
2024	$4.8B	$196M	0.0%	5.2%	20.1%	10.8%	$256M	$0	$515M
2023	$5.3B	$264M	0.0%	6.5%	26.9%	14.7%	$368M	$0	$481M
2022	$7.4B	$431M	0.0%	7.7%	48.6%	22.3%	$597M	$0	$340M
2021	$6.5B	$382M	0.0%	7.7%	44.3%	18.7%	$253M	$0	$216M
2020	$4.1B	$192M	0.0%	6.1%	27.8%	11.6%	$180M	$0	$249M
2019	$4.1B	$228M	0.0%	7.3%	31.6%	16.0%	$288M	$0	$320M
2018	$4.6B	$255M	0.0%	7.2%	37.2%	18.5%	$288M	$0	$200M
2017	$3.6B	$177M	0.0%	6.7%	27.2%	13.1%	$123M	$0	$242M
2016	—	$137M	—	—	25.3%	12.5%	$168M	$0	$179M
2015	—	$148M	—	—	31.7%	14.9%	—	$0	$115M
2014	—	$139M	—	—	28.4%	13.4%	—	$0	$164M
2013	—	$146M	—	—	32.1%	15.0%	—	$102M	$180M
2012	—	$130M	—	—	34.2%	14.8%	$120M	$114M	$74M
2011	—	$113M	—	—	37.6%	14.0%	$114M	$132M	$81M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.5B	$48M	0.0%	4.3%	5.8%	2.7%	$68M	—	$297M
Jun '26	$1.4B	$49M	0.0%	4.6%	5.9%	2.8%	-$53M	—	$294M
Mar '26	$1.2B	$39M	0.0%	4.5%	4.9%	2.5%	$72M	$0	$353M
Dec '25	$1.2B	$24M	0.0%	2.5%	3.0%	1.5%	$71M	$0	$397M
Sep '25	$1.2B	$19M	0.0%	2.2%	2.2%	1.2%	$86M	$0	$375M
Jun '25	$1.2B	$42M	0.0%	4.6%	4.5%	2.5%	$5M	$0	$359M
Mar '25	$1.2B	$30M	0.0%	3.4%	3.2%	1.7%	$54M	$0	$417M
Dec '24	$1.2B	$46M	0.0%	4.8%	4.8%	2.5%	$54M	$0	$515M
Sep '24	$1.2B	$50M	0.0%	5.2%	4.9%	2.8%	$76M	$0	$469M
Jun '24	$1.2B	$53M	0.0%	5.6%	5.3%	3.0%	$41M	$0	$438M
Mar '24	$1.2B	$47M	0.0%	5.1%	4.6%	2.7%	$85M	$0	$468M
Dec '23	$1.2B	$58M	0.0%	6.2%	5.9%	3.2%	$80M	$0	$481M
Sep '23	$1.3B	$62M	0.0%	6.2%	5.9%	3.3%	$109M	$0	$440M
Jul '23	$1.4B	$67M	0.0%	6.4%	6.7%	3.6%	$46M	$0	$361M
Apr '23	$1.4B	$78M	0.0%	7.1%	8.4%	4.3%	$133M	$0	$341M
Dec '22	$1.7B	$93M	0.0%	7.4%	10.5%	4.8%	$181M	$0	$340M
Sep '22	$1.8B	$100M	0.0%	7.4%	11.5%	5.0%	$213M	—	$178M
Jun '22	$2.0B	$113M	0.0%	7.6%	13.1%	5.6%	$111M	—	$78M
Mar '22	$2.0B	$125M	0.0%	8.3%	14.6%	6.1%	$91M	$70M	$146M
Dec '21	$1.9B	$113M	0.0%	7.6%	13.1%	5.5%	$55M	$0	$216M

Valuation over time

How the market has priced LSTR against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 14.0× (Mar '23) to 43.2× (Nov '26).
The price-to-sales ratio has risen from 0.8× (Mar '23) to 1.0× (Nov '26).
The dividend yield has risen from 1.9% (Mar '23) to 2.5% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is LSTR growing its revenue and profit?

Over the past 5 years, Landstar System Inc's revenue has grown 2.8% per year, and net income declined 9.8% per year. These are computed facts, not advice.

How much debt does LSTR have?

As of FY2025, Landstar System Inc reported $0 of total debt against $397M of cash; operating income covered interest expense 27×.

What is LSTR's profit margin?

In FY2025, gross margin was —, operating margin 3.2%, and net margin 2.4%.

What is LSTR's P/E ratio?

Landstar System Inc's P/E (TTM) is 31.01 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the LSTR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 43.2× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.