Filing Flows › Knight-Swift Transportation Holdings (KNX) › Q4 2025
Knight-Swift Transportation Holdings (KNX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Knight-Swift Transportation Holdings (KNX) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), -0.4% from a year earlier and -4% from the quarter before. Operating margin was 1.4%, net loss $6.9M (0.4% of revenue).
Knight-Swift Transportation Holdings, Q4 2025: revenue $1.9B (-0.4% year over year), operating margin 1.4%, net loss $6.9M, operating cash flow $723M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | -4% | -0.4% |
| Operating profit | $26.5M | -47% | — |
| Net earnings | −$6.9M | -183% | — |
| Operating cash flow | $723M | +233% | +164% |
| Free cash flow | $569M | — | 12× |
What changed
Revenue was $1.9B in Q4 2025, roughly flat year over year and down 4% from the previous quarter. Revenue, excluding truckload and LTL fuel surcharge was the largest line at 90% of revenue.
Operating profit was $0.03B, a 1.4% margin (down 2.8 points year over year). Total costs grew 2% against flat revenue. The quarter ended with a net loss of $0.01B, after a profit of $0.01B the previous quarter. Net interest and other expense of $0.04B was the main reason.
Operating cash flow was $0.72B (up 164% year over year). Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items added $0.53B. Capital expenditures of $0.15B left free cash flow of $0.57B.
Questions
What was Knight-Swift Transportation Holdings' revenue in the fourth quarter 2025?
Knight-Swift Transportation Holdings (KNX) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), -0.4% from a year earlier and -4% from the quarter before.
Was Knight-Swift Transportation Holdings profitable in the fourth quarter 2025?
Operating profit was $26.5M (1.4% of revenue) and net loss $6.9M.
Source: Knight-Swift Transportation Holdings 10-K on SEC EDGAR.