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Knight-Swift Transportation Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$350M in Q3 2026 · $1.5B over twelve months

Operating cash flow$350M
Free cash flow+$350M
Cash / net income3.0×

Analysis

In Q3 2026, Knight-Swift Transportation Holdings generated $350M of operating cash flow. That is $132M more than in Q3 2025 ($218M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.5B; the largest uses were net borrowing (+) / repaid (−) ($1.7B), other investing ($772M), dividends ($128M); besides operations, cash came from other financing ($889M), asset & business sales ($248M); the cash balance rose by $18.0M.

Operating cash flow was $350M against net income of $118M — 3.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$199M, receivables −$52.9M, other liabilities −$35.9M.

Free cash flow

Knight-Swift Transportation Holdings: free cash flow by quarterKnight-Swift Transportation Holdings: free cash flow by quarter$274MQ4 2024$109MQ1 2025$216MQ2 2025$218MQ3 2025$723MQ4 2025$143MQ1 2026$308MQ2 2026$350MQ3 2026
Operating cash flow less capital spending.
Knight-Swift Transportation Holdings: operating cash flow against capital spendingKnight-Swift Transportation Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$274M$0Q4 2024$109M$0Q1 2025$216M$0Q2 2025$218M$0Q3 2025$723M$0Q4 2025$143M$0Q1 2026$308M$0Q2 2026$350M$0Q3 2026
Latest (Q3 2026): Operating cash flow $350M, Capital spending $0.

Capital allocation, year by year

Knight-Swift Transportation Holdings: where the cash came from (up) and went (down), by fiscal yearKnight-Swift Transportation Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.2BFY2021: Net borrowing $732MFY2021: Shares issued $5.9MFY2021: Asset sales $252MFY2021: Acquisitions −$1.5BFY2021: Buybacks −$57.2MFY2021: Dividends −$63.5M$2.2BFY2021FY2022: Operating cash flow $1.4BFY2022: Net borrowing −$771MFY2022: Shares issued $2.5MFY2022: Asset sales $183MFY2022: Acquisitions −$31.3MFY2022: Buybacks −$300MFY2022: Dividends −$78.3M$1.6BFY2022FY2023: Operating cash flow $1.2BFY2023: Net borrowing $117MFY2023: Shares issued $162KFY2023: Asset sales $293MFY2023: Acquisitions −$458MFY2023: Dividends −$91.1M$1.6BFY2023FY2024: Operating cash flow $799MFY2024: Net borrowing −$94.9MFY2024: Shares issued $5.3MFY2024: Asset sales $254MFY2024: Acquisitions −$185MFY2024: Dividends −$104M$1.1BFY2024FY2025: Operating cash flow $1.3BFY2025: Net borrowing −$376MFY2025: Shares issued $5.4MFY2025: Asset sales $292MFY2025: Dividends −$117M$1.6BFY2025
Over these 5 years operating cash flow totalled $5.9B; the largest uses were acquisitions ($2.2B) and net borrowing ($1.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$254M
Debt$232M
Net cash$22.3M
Due within a year$168M

Knight-Swift Transportation Holdings funds itself: free cash flow was $1.5B over the last twelve months, and $254M of cash and investments stands against $232M of debt ($168M due within a year, 1.5× covered by cash).

Where the cash came from and went

Knight-Swift Transportation Holdings: sources (+) and uses (−) of cash, Q3 2026Knight-Swift Transportation Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$350MOther investing−$240MNet borrowing (+) / repaid (−)−$97.1MAsset & business sales$69.3MCash drawn (+) / kept (−)−$50.4MDividends−$32.6MShares issued$926KOther financing$360K
Knight-Swift Transportation Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Knight-Swift Transportation Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$1.7BOperating cash flow$1.5BOther financing$889MOther investing−$772MAsset & business sales$248MDividends−$128MCash drawn (+) / kept (−)−$18.0MShares issued$5.1M

From profit to cash

Knight-Swift Transportation Holdings: net income to operating cash flow, Q3 2026Knight-Swift Transportation Holdings: net income to operating cash flow, Q3 2026Net income$118MDepreciation & amortization$199MGains on disposals−$21.7MOther non-cash$9.4MReceivables−$52.9MPayables$5.4MOther liabilities−$35.9MOperating cash flow$350M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$350M−$32.6M−$97.1M$926K−$50.4M$350M
Q2 2026$308M−$33.1M−$1.5B$2.2M$31.9M$308M
Q1 2026$143M−$32.7M−$24.9M$1.0M$9.2M$143M
Q4 2025$723M−$29.2M−$142M$1.0M−$8.7M$723M
Q3 2025$218M−$29.2M−$1.0B$1.0M$44.9M$218M
Q2 2025$216M−$29.7M−$60.4M$2.3M$4.2M$216M
Q1 2025$109M−$29.3M−$23.5M$1.1M$21.1M$109M
Q4 2024$274M−$25.9M−$55.2M$1.2M−$49.3M$274M

Knight-Swift Transportation Holdings: income statement and cash flow

Knight-Swift Transportation Holdings, Q3 2026: revenue $2.2B (+14% year over year), operating margin 8.1%. The chart follows the revenue to costs, profit and cash.

Knight-Swift Transportation Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.