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Marten Transport (MRTN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Marten Transport (MRTN) Q3 2026 earnings results →

Q3 2026 Revenue up 1% year over year to $223M · 1¢ of every $1 of revenue kept as net profit · operating margin 1.4%

Marten Transport made $223M in Q3 2026 (+1% Y/Y). Operating margin 1.4%, net earnings $2.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$223M
Year over year+1%
Operating margin1.4%
Net earnings$2.9M
Operating cash flow$22.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $223.2M in Q3 2026, up 1% year over year and roughly flat from the previous quarter.

Operating profit was $3.1M, a 1.4% margin (up 0.1 points year over year). Of the extra revenue versus Q3 2025, 12% reached operating profit, above the 1% margin then. Total costs grew 1% against revenue growth of 1%. Net earnings were $2.9M, up 31% year over year. The effective tax rate was 26.3%. Non-operating items added $882K, 22% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $22.6M (up 22% year over year), 776% of net earnings. Non-cash charges added back $24.5M of depreciation and $193K of share-based compensation. Working capital and other items used $5.0M.

Quarterly history

Marten Transport revenue by quarterMarten Transport revenue by quarter$223MQ1 2025$230MQ2 2025$220MQ3 2025$210MQ4 2025$204MQ1 2026$224MQ2 2026$223MQ3 2026
Marten Transport net earnings by quarterMarten Transport net earnings by quarter$4.3MQ1 2025$7.2MQ2 2025$2.2MQ3 2025$3.7MQ4 2025$1.4MQ1 2026$5.3MQ2 2026$2.9MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$223M+1%1.4%$2.9M$22.6M
Q2 202610-QAug 6, 2026$224M-3%3.1%$5.3M$27.7M
Q1 202610-QMay 8, 2026$204M-9%0.8%$1.4M$33.0M
Q4 202510-KFeb 27, 2026$210M-9%2.2%$3.7M$5.6M
Q3 202510-QNov 7, 2025$220M-7%1.2%$2.2M$18.5M
Q2 202510-QAug 8, 2025$230M-7%4.2%$7.2M$33.2M
Q1 202510-QMay 9, 2025$223M-11%2.6%$4.3M$36.2M

Charts

Marten Transport: revenue growth, year over year and quarter over quarterMarten Transport: revenue growth, year over year and quarter over quarterY/YQ/Q-11%Q1 2025-7%+3%Q2 2025-7%-4%Q3 2025-9%-5%Q4 2025-9%-3%Q1 2026-3%+10%Q2 2026+1%0%Q3 2026
Latest (Q3 2026): Y/Y +1%, Q/Q 0%.
Marten Transport: where the cash came from (+) and went (−), TTM to Q3 2026Marten Transport: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$88.9MCash drawn (+) / kept (−)−$42.0MOther investing−$28.2MDividends−$19.6MShares issued$1.2MTaxes on employees’ shares−$276K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Marten Transport: profit against cash, quarter by quarterMarten Transport: profit against cash, quarter by quarterNet incomeOperating cash flow$5.6M$23.8MQ4 2024$4.3M$36.2MQ1 2025$7.2M$33.2MQ2 2025$2.2M$18.5MQ3 2025$3.7M$5.6MQ4 2025$1.4M$33.0MQ1 2026$5.3M$27.7MQ2 2026$2.9M$22.6MQ3 2026
Latest (Q3 2026): Net income $2.9M, Operating cash flow $22.6M.
Marten Transport: diluted shares by fiscal yearMarten Transport: diluted shares by fiscal year83MFY202083MFY202182MFY202281MFY202381MFY202482MFY2025
-2.0% since FY2020: buybacks shrank the count.
Marten Transport in its industry: growth against margin (13 companies, SIC 4213)Marten Transport in its industry: growth against margin (13 companies, SIC 4213)revenue growth, year over year →↑ operating marginmedian +14%median 4%JBHTKNXODFLSNDRLSTRARCBSAIAWERNULHCVLGHTLDPAMTMRTN (+1%, 1%)
Trucking (No Local); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Marten Transport against its Trucking (No Local) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +16%. Operating margin: 1.4% against the peers' median 6.1%.

CompanyQuarterRevenueY/YOp. margin
MRTN Marten TransportQ3 2026$223M+1%1.4%
JBHT Hunt J B Transport ServicesQ3 2026$3.7B+20%6.7%
KNX Knight-Swift Transportation HoldingsQ3 2026$2.2B+14%8.1%
ODFL Old Dominion Freight LineQ3 2026$1.6B+13%28.5%
SNDR Schneider NationalQ3 2026$1.6B+9%3.9%
LSTR Landstar SystemQ3 2026$1.5B+25%4.3%
ARCB ArcbestQ3 2026$1.2B+16%6.1%
SAIA SaiaQ3 2026$982M+17%12.4%
WERN Werner EnterprisesQ3 2026$951M+23%1.8%

Source: Marten Transport 10-Q on SEC EDGAR · CIK 799167 · Trucking (No Local)

Guidance and outlook

Marten Transport: what its forward-looking statements are about (10-Q filed 2026-11-06)Marten Transport: what its forward-looking statements are about (10-Q filed 2026-11-06)Margins2Supply chain2Costs1Capital spending1Demand1Buybacks & dividends1
8 statements; tone +0.25 (−1 all cautious, +1 all confident); 0 hedged.
Marten Transport: outlook statements against the filing beforeMarten Transport: outlook statements against the filing beforeConfident2

13F: who owns MRTN and who is buying

Largest holders of MRTN (13F)Largest holders of MRTN (13F)BlackRock$175MDimensional Fund Advisors LP$86.7MAmerican Century Companies$48.6MState Street$47.3MFMR LLC$46.9MVanguard Group$45.7MVanguard Capital Management LLC$43.8MGoldman Sachs Group$36.5MNuveen, LLC$33.7MTwo Sigma Investments, LP$31.8M
Funds' net buying of MRTN by quarter (13F)Funds' net buying of MRTN by quarter (13F)$5.6M2024-09$98K2024-12$3.7M2025-03−$8.9M2025-06−$16.3M2025-09$13.0M2025-12$6.5M2026-03$59.7M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MRTN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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