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Universal Logistics Holdings vs Covenant Logistics Group: ULH and CVLG compared
Universal Logistics Holdings is the larger company: $394M of revenue in its latest quarter (Q3 2026) against $354M for Covenant Logistics Group (Q3 2026). Covenant Logistics Group is growing faster (+19% against -0.7% a year earlier). Universal Logistics Holdings is more profitable, with an operating margin of 8.3% against 3.5%.
Where the money goes: ULH and CVLG
Universal Logistics Holdings (ULH) · Q3 2026
Universal Logistics Holdings, Q3 2026: revenue $394M (-0.7% year over year), operating margin 8.3%, net earnings $18.1M. The chart follows the revenue to costs, profit and cash.
Covenant Logistics Group (CVLG) · Q3 2026
Covenant Logistics Group, Q3 2026: revenue $354M (+19% year over year), operating margin 3.5%, net earnings $10.7M, operating cash flow $26.7M. The chart follows the revenue to costs, profit and cash.
| Universal Logistics Holdings (ULH) | Covenant Logistics Group (CVLG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $394M | $354M |
| Revenue growth, Y/Y | -0.7% | +19% |
| Operating margin | 8.3% | 3.5% |
| Net earnings | $18.1M | $10.7M |
| Net margin | 4.6% | 3.0% |
| Operating cash flow | — | $26.7M |
| Market value | $715M | $839M |
| P/E | — | 155.4× |
| Analysts’ mean target | $16.00 | $49.50 |
Where the revenue comes from
Universal Logistics Holdings
- Value-added services: $183M (46%)
- Dedicated services: $88.8M (23%)
- Intermodal services: $52.1M (13%)
- Truckload services: $48.9M (12%)
Covenant Logistics Group
- Cargo and Freight: $315M (89%)
- Fuel Surcharge: $38.8M (11%)
Questions
Which is bigger, Universal Logistics Holdings or Covenant Logistics Group?
Universal Logistics Holdings is the larger company: $394M of revenue in its latest quarter (Q3 2026) against $354M for Covenant Logistics Group (Q3 2026).
Is Universal Logistics Holdings or Covenant Logistics Group growing faster?
Covenant Logistics Group is growing faster (+19% against -0.7% a year earlier).
Which is more profitable, Universal Logistics Holdings or Covenant Logistics Group?
Universal Logistics Holdings is more profitable, with an operating margin of 8.3% against 3.5%.
More: Universal Logistics Holdings earnings · how Universal Logistics Holdings makes money · Covenant Logistics Group earnings · how Covenant Logistics Group makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Oct 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.