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Stocks · Industrials · Trucking (No Local)

LANDSTAR SYSTEM INC

LSTR Clue Score39
United States Fiscal year ends December CIK 0000853816
$169.11 -0.21% Close, 9 Oct 2026
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Price $169.11 +8.85% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue3,167.6Operating income223.3Net income137.4EPS, diluted3.25Fiscal year 2017Revenue3,646.4 +15.1%Operating income244.0Net income177.1 +28.9%EPS, diluted4.21 +29.5%Fiscal year 2018Revenue4,615.1 +26.6%Operating income331.7Net income255.3 +44.2%EPS, diluted6.18 +46.8%Fiscal year 2019Revenue4,084.6 −11.5%Operating income298.9Net income227.7 −10.8%EPS, diluted5.72 −7.4%Fiscal year 2020Revenue4,133.0 +1.2%Operating income253.0Net income192.1 −15.6%EPS, diluted4.98 −12.9%Fiscal year 2021Revenue6,537.6 +58.2%Operating income505.7Net income381.5 +98.6%EPS, diluted9.98 +100.4%Fiscal year 2022Revenue7,436.6 +13.8%Operating income571.1Net income430.9 +12.9%EPS, diluted11.76 +17.8%Fiscal year 2023Revenue5,303.3 −28.7%Operating income344.1Net income264.4 −38.6%EPS, diluted7.36 −37.4%Fiscal year 2024Revenue4,819.2 −9.1%Operating income248.9Net income195.9 −25.9%EPS, diluted5.51 −25.1%Fiscal year 2025Revenue4,743.8 −1.6%Operating income151.6Net income115.0 −41.3%EPS, diluted3.31 −39.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3,167.6 3,646.4 4,615.1 4,084.6 4,133.0 6,537.6 7,436.6 5,303.3 4,819.2 4,743.8
Growth +15.1% +26.6% −11.5% +1.2% +58.2% +13.8% −28.7% −9.1% −1.6%
Operating income 223.3 244.0 331.7 298.9 253.0 505.7 571.1 344.1 248.9 151.6
Net income 137.4 177.1 255.3 227.7 192.1 381.5 430.9 264.4 195.9 115.0
Growth +28.9% +44.2% −10.8% −15.6% +98.6% +12.9% −38.6% −25.9% −41.3%
EPS, diluted 3.25 4.21 6.18 5.72 4.98 9.98 11.76 7.36 5.51 3.31
Growth +29.5% +46.8% −7.4% −12.9% +100.4% +17.8% −37.4% −25.1% −39.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin7.0%Net margin4.3%Free cash flow margin5.3%Fiscal year 2017Operating margin6.7%Net margin4.9%Free cash flow margin3.4%Fiscal year 2018Operating margin7.2%Net margin5.5%Free cash flow margin6.2%Fiscal year 2019Operating margin7.3%Net margin5.6%Free cash flow margin7.1%Fiscal year 2020Operating margin6.1%Net margin4.6%Free cash flow margin4.4%Fiscal year 2021Operating margin7.7%Net margin5.8%Free cash flow margin3.9%Fiscal year 2022Operating margin7.7%Net margin5.8%Free cash flow margin8.0%Fiscal year 2023Operating margin6.5%Net margin5.0%Free cash flow margin6.9%Fiscal year 2024Operating margin5.2%Net margin4.1%Free cash flow margin5.3%Fiscal year 2025Operating margin3.2%Net margin2.4%Free cash flow margin4.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 7.0% 6.7% 7.2% 7.3% 6.1% 7.7% 7.7% 6.5% 5.2% 3.2%
Net margin 4.3% 4.9% 5.5% 5.6% 4.6% 5.8% 5.8% 5.0% 4.1% 2.4%
Free cash flow margin 5.3% 3.4% 6.2% 7.1% 4.4% 3.9% 8.0% 6.9% 5.3% 4.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow190.2Capital expenditure−22.6Free cash flow167.6Buybacks−50.5Dividends paid−14.3Fiscal year 2017Operating cash flow139.0Capital expenditure−15.6Free cash flow123.4 −26.4%Buybacks0.0Dividends paid−15.9Fiscal year 2018Operating cash flow297.9Capital expenditure−9.7Free cash flow288.2 +133.6%Buybacks−208.1Dividends paid−88.9Fiscal year 2019Operating cash flow307.8Capital expenditure−19.4Free cash flow288.4 +0.1%Buybacks−88.6Dividends paid−27.9Fiscal year 2020Operating cash flow210.7Capital expenditure−30.6Free cash flow180.1 −37.6%Buybacks−116.0Dividends paid−109.5Fiscal year 2021Operating cash flow276.7Capital expenditure−23.3Free cash flow253.5 +40.8%Buybacks−122.7Dividends paid−112.0Fiscal year 2022Operating cash flow622.7Capital expenditure−26.0Free cash flow596.7 +135.4%Buybacks−286.0Dividends paid−115.7Fiscal year 2023Operating cash flow393.6Capital expenditure−25.7Free cash flow368.0 −38.3%Buybacks−53.9Dividends paid−117.1Fiscal year 2024Operating cash flow286.6Capital expenditure−31.0Free cash flow255.6 −30.5%Buybacks−81.4Dividends paid−120.5Fiscal year 2025Operating cash flow224.9Capital expenditure−9.9Free cash flow215.0 −15.9%Buybacks−179.9Dividends paid−124.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 190.2 139.0 297.9 307.8 210.7 276.7 622.7 393.6 286.6 224.9
Capital expenditure −22.6 −15.6 −9.7 −19.4 −30.6 −23.3 −26.0 −25.7 −31.0 −9.9
Free cash flow 167.6 123.4 288.2 288.4 180.1 253.5 596.7 368.0 255.6 215.0
Growth −26.4% +133.6% +0.1% −37.6% +40.8% +135.4% −38.3% −30.5% −15.9%
Buybacks −50.5 0.0 −208.1 −88.6 −116.0 −122.7 −286.0 −53.9 −81.4 −179.9
Dividends paid −14.3 −15.9 −88.9 −27.9 −109.5 −112.0 −115.7 −117.1 −120.5 −124.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash178.9Total debt0.0Net cash (debt)178.9Shareholders’ equity542.6Debt to equity0.00Fiscal year 2017Cash242.4Total debt0.0Net cash (debt)242.4Shareholders’ equity650.7Debt to equity0.00Fiscal year 2018Cash199.7Total debt0.0Net cash (debt)199.7Shareholders’ equity686.8Debt to equity0.00Fiscal year 2019Cash319.5Total debt0.0Net cash (debt)319.5Shareholders’ equity721.5Debt to equity0.00Fiscal year 2020Cash249.4Total debt0.0Net cash (debt)249.4Shareholders’ equity691.8Debt to equity0.00Fiscal year 2021Cash215.5Total debt0.0Net cash (debt)215.5Shareholders’ equity862.0Debt to equity0.00Fiscal year 2022Cash339.6Total debt0.0Net cash (debt)339.6Shareholders’ equity887.2Debt to equity0.00Fiscal year 2023Cash481.0Total debt0.0Net cash (debt)481.0Shareholders’ equity983.9Debt to equity0.00Fiscal year 2024Cash515.0Total debt0.0Net cash (debt)515.0Shareholders’ equity972.4Debt to equity0.00Fiscal year 2025Cash396.7Total debt0.0Net cash (debt)396.7Shareholders’ equity795.7Debt to equity0.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 178.9 242.4 199.7 319.5 249.4 215.5 339.6 481.0 515.0 396.7
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net cash (debt) 178.9 242.4 199.7 319.5 249.4 215.5 339.6 481.0 515.0 396.7
Shareholders’ equity 542.6 650.7 686.8 721.5 691.8 862.0 887.2 983.9 972.4 795.7
Debt to equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 30 Dec 2017 FY2018 29 Dec 2018 FY2019 28 Dec 2019 FY2020 26 Dec 2020 FY2021 25 Dec 2021 FY2022 31 Dec 2022 FY2023 30 Dec 2023 FY2024 28 Dec 2024 FY2025 27 Dec 2025
Margins
7.0% 6.7% 7.2% 7.3% 6.1% 7.7% 7.7% 6.5% 5.2% 3.2%
6.9% 6.6% 7.1% 7.2% 6.0% 7.7% 7.6% 6.6% 5.3% 3.2%
4.3% 4.9% 5.5% 5.6% 4.6% 5.8% 5.8% 5.0% 4.1% 2.4%
5.3% 3.4% 6.2% 7.1% 4.4% 3.9% 8.0% 6.9% 5.3% 4.5%
Spending
4.5% 4.7% 4.1% 3.9% 4.1% 3.4% 3.0% 4.0% 4.5% 4.9%
0.7% 0.4% 0.2% 0.5% 0.7% 0.4% 0.3% 0.5% 0.6% 0.2%
37.4% 26.5% 22.3% 23.0% 22.8% 24.0% 24.1% 24.0% 23.0% 23.6%
Returns
25.3% 27.2% 37.2% 31.6% 27.8% 44.3% 48.6% 26.9% 20.1% 14.5%
12.5% 13.1% 18.5% 16.0% 11.6% 18.7% 22.3% 14.7% 10.8% 7.0%
Balance and payout
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
10.4% 9.0% 34.8% 12.2% 57.0% 29.3% 26.8% 44.3% 61.5% 108.5%
38.7% 12.9% 103.1% 40.4% 125.2% 92.6% 67.3% 46.5% 79.0% 141.7%