A Business at a Glance
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COVENANT LOGISTICS GROUP, INC.
CVLG
$1.3B
Mkt Cap
$46.75
-3.07%
COVENANT LOGISTICS GROUP, INC. (CVLG) has a current P/E ratio of 173.1, compared to its historical median P/E of 18.3. The stock is currently considered Expensive based on its historical valuation range.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a 5-year average return on invested capital (ROIC) of 11.0%. This indicates solid capital allocation.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, COVENANT LOGISTICS GROUP, INC. (CVLG) pays a dividend with a trailing twelve-month yield of 0.57%. The company also returns capital through share buybacks, with a buyback yield of 2.96%.
Based on historical P/E analysis, COVENANT LOGISTICS GROUP, INC. (CVLG) appears expensive. The current P/E of 173.1 is 848% above its historical median of 18.3. The estimated fair value CAGR (P/E method) is 28.7%.
COVENANT LOGISTICS GROUP, INC. (CVLG) operates in the Trucking (No Local) industry, within the Industrials sector.
Background and Strategy We were founded in 1986 as a provider of expedited freight transportation, primarily using two-person driver teams in transcontinental lanes. Since that time, we have grown from 25 tractors to approximately 2,300 tractors and expanded our services to include a wide array of transportation and logistics services for our customers. We are strategically focused on continuing to integrate into the supply chain of our customers and reducing our seasonal and cyclical volatility. Our 2018 acquisition of Landair Holdings, Inc., Landair Transport, LLC, Landair Logistics, LLC, and Landair Leasing, Inc. (collectively, "Landair"), our 2022 acquisition of AAT Carriers, Inc.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.2B | 1.2B | 1.1B | 1.1B | 1.2B | 1.0B |
| Net Income | 5.1M | 7.2M | 36M | 55M | 109M | 61M |
| EPS | $0.18 | $0.27 | $0.65 | $0.50 | $1.75 | $0.89 |
| Free Cash Flow | -7.7M | -34M | -30M | -133M | 59M | 38M |
| ROIC | 0.8% | - | 4.8% | 6.1% | 21.1% | 12.3% |
| Gross Margin | - | 62.8% | 62.6% | 63.7% | 66.9% | 66.5% |
| Debt/Equity | 0.62 | 0.99 | 0.81 | 0.83 | 0.51 | 0.20 |
| Dividends/Share | $0.27 | $0.27 | $0.10 | $0.03 | $0.02 | $0.00 |
| Operating Income | 1.6M | - | 45M | 59M | 121M | 67M |
| Operating Margin | 0.1% | - | 4.0% | 5.3% | 9.9% | 6.4% |
| ROE | 1.3% | 1.7% | 8.2% | 13.7% | 28.8% | 17.4% |
| Shares Outstanding | 26M | 27M | 55M | 110M | 62M | 68M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 719M | 724M | 671M | 705M | 885M | 885M | 839M | 1.0B | 1.2B | 1.1B | 1.1B | 1.2B | 1.2B |
| Gross Margin | 45.1% | 52.4% | 50.9% | 66.0% | 65.6% | 63.8% | 62.4% | 66.5% | 66.9% | 63.7% | 62.6% | 62.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 232M | 245M | 235M | 242M | 304M | 320M | 315M | 350M | 402M | 400M | 423M | 433M | 438M |
| EBIT | 40M | 68M | 32M | 28M | 59M | 8.8M | -14M | 67M | 121M | 59M | 45M | N/A | 1.6M |
| Op. Margin | 5.5% | 9.4% | 4.8% | 4.0% | 6.7% | 1.0% | -1.7% | 6.4% | 9.9% | 5.3% | 4.0% | N/A | 0.1% |
| Net Income | 18M | 42M | 17M | 55M | 43M | 8.5M | -43M | 61M | 109M | 55M | 36M | 7.2M | 5.1M |
| Net Margin | 2.5% | 5.8% | 2.5% | 7.9% | 4.8% | 1.0% | -5.1% | 5.8% | 8.9% | 5.0% | 3.2% | 0.6% | 0.4% |
| Non-Recurring | 2.7M | 626K | -808K | -4.0M | 0 | 1.6M | 34M | 3.8M | 40M | 13M | -1.6M | 10M | 10M |
| Returns on Capital | |||||||||||||
| ROIC | 7.4% | 11.6% | 4.6% | 6.2% | 8.7% | 1.0% | -3.8% | 12.3% | 21.1% | 6.1% | 4.8% | N/A | 0.8% |
| ROE | 13.2% | 22.7% | 7.7% | 20.9% | 12.4% | 2.4% | -14.7% | 17.4% | 28.8% | 13.7% | 8.2% | 1.7% | 1.3% |
| ROA | 3.5% | 7.1% | 2.7% | 8.7% | 5.5% | 1.0% | -6.3% | 9.3% | 13.6% | 5.8% | 3.6% | 0.7% | 0.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 74M | 85M | 102M | 83M | 125M | 64M | 63M | 73M | 159M | 85M | 123M | 114M | 118M |
| Free Cash Flow | -90M | -96M | -10M | -28M | 50M | -74M | -31M | 38M | 59M | -133M | -30M | -34M | -7.7M |
| Owner Earnings | -50M | -58M | -64M | -105M | 44M | -18M | -2.7M | 18M | 95M | 7.8M | 33M | 17M | 214M |
| CapEx | 164M | 182M | 113M | 111M | 75M | 138M | 94M | 35M | 100M | 218M | 153M | 148M | 126M |
| Maint. CapEx | 123M | 142M | 166M | 187M | 76M | 81M | 65M | 54M | 58M | 70M | 87M | 93M | -100M |
| Growth CapEx | 41M | 40M | 0 | 0 | 0 | 58M | 29M | 0 | 43M | 148M | 66M | 55M | 226M |
| D&A | 123M | 142M | 166M | 187M | 76M | 81M | 65M | 54M | 58M | 70M | 87M | 93M | -100M |
| CapEx/OCF | 222.0% | 212.9% | 110.1% | 133.7% | 60.2% | 215.9% | 149.2% | 48.2% | 63.1% | 256.5% | 124.5% | 129.8% | 106.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.3M | 5.8M | 5.8M | 7.2M | 7.1M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.5% | 0.3% | 0.4% | 1.2% | 0.6% |
| Share Buybacks | 0 | 5.0M | 0 | 0 | 0 | 0 | 17M | 10M | 85M | 25M | 0 | 37M | 37M |
| Buyback Yield | N/A | 0.8% | N/A | N/A | N/A | N/A | 3.5% | 1.3% | 8.0% | 4.0% | N/A | 6.1% | 3.0% |
| Stock-Based Comp | 1.3M | 1.3M | 1.2M | 1.0M | 4.8M | 1.1M | 297K | 1.3M | 6.6M | 7.1M | 3.7M | 3.6M | 3.5M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 166M | 234M | 198M | 183M | 151M | 228M | 78M | 52M | 55M | 330M | 286M | 390M | 242M |
| Cash & Equiv. | 21M | 4.5M | 7.8M | 15M | 23M | 44M | 8.4M | 8.4M | 69M | 2.3M | 36M | 4.9M | 11M |
| Long-Term Debt | 160M | 196M | 169M | 164M | 167M | 200M | 48M | 20M | 90M | 197M | 187M | 234M | 201M |
| Debt/Equity | 1.11 | 1.18 | 0.87 | 0.67 | 0.57 | 0.90 | 0.33 | 0.20 | 0.51 | 0.83 | 0.81 | 0.99 | 0.62 |
| Interest Coverage | 3.7 | 8.0 | 3.9 | 3.4 | 6.8 | 1.1 | -2.1 | 24.1 | 39.1 | 7.4 | 3.3 | N/A | 3.5 |
| Equity | 169M | 202M | 236M | 295M | 343M | 350M | 291M | 350M | 377M | 403M | 438M | 404M | 408M |
| Total Assets | 539M | 647M | 621M | 650M | 774M | 882M | 677M | 652M | 797M | 954M | 998M | 1.0B | 1.0B |
| Total Liabilities | 370M | 445M | 384M | 354M | 430M | 532M | 386M | 302M | 420M | 551M | 559M | 642M | 609M |
| Intangibles | 235K | 169K | 0 | 0 | 33M | 30M | 25M | 20M | 48M | 100M | 90M | 106M | 103M |
| Retained Earnings | 41M | 83M | 102M | 157M | 201M | 209M | 166M | 225M | 329M | 379M | 278M | 278M | 281M |
| Working Capital | 41M | 47M | 47M | 81M | 84M | 93M | 14M | 46M | 67M | 16M | 33M | 23M | 9.0M |
| Current Assets | 142M | 173M | 135M | 162M | 212M | 254M | 148M | 189M | 223M | 186M | 214M | 233M | 211M |
| Current Liabilities | 101M | 126M | 88M | 81M | 127M | 161M | 133M | 143M | 156M | 170M | 181M | 210M | 202M |
| Per Share Data | |||||||||||||
| EPS | 1.15 | 2.30 | 0.92 | 3.02 | 0.58 | 0.11 | -0.62 | 0.89 | 1.75 | 0.50 | 0.65 | 0.27 | 0.18 |
| Owner EPS | -3.25 | -3.16 | -3.52 | -5.72 | 0.60 | -0.23 | -0.04 | 0.26 | 1.53 | 0.07 | 0.59 | 0.65 | 8.11 |
| Book Value | 10.93 | 11.05 | 12.92 | 16.08 | 4.64 | 4.65 | 4.18 | 5.14 | 6.07 | 3.65 | 7.93 | 15.07 | 15.42 |
| Cash Flow/Share | 4.76 | 4.67 | 5.60 | 4.51 | 1.69 | 0.85 | 0.91 | 1.08 | 2.56 | 0.77 | 2.22 | 4.24 | -3.60 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.02 | 0.03 | 0.10 | 0.27 | 0.27 |
| Shares Out. | 15.5M | 18.3M | 18.3M | 18.4M | 73.9M | 75.4M | 69.5M | 68.0M | 62.1M | 110.5M | 55.3M | 26.8M | 26.4M |
| Valuation | |||||||||||||
| P/E Ratio | 44.5 | 15.2 | 41.1 | 18.3 | 15.8 | 55.0 | N/A | 13.6 | 9.8 | 11.4 | 20.8 | 83.1 | 258.9 |
| P/FCF | N/A | N/A | N/A | N/A | 13.5 | N/A | N/A | 21.7 | 18.0 | N/A | N/A | N/A | N/A |
| EV/EBIT | 24.3 | 12.8 | 26.8 | 42.5 | 13.9 | 72.3 | N/A | 12.5 | 8.7 | 15.6 | 22.1 | 324.7 | 928.4 |
| Price/Book | 4.7 | 3.2 | 2.9 | 3.4 | 2.0 | 1.3 | 1.7 | 2.4 | 2.8 | 1.6 | 1.7 | 1.5 | 3.0 |
| Price/Sales | 0.6 | 1.3 | 1.0 | 1.1 | 1.1 | 0.7 | 0.6 | 0.7 | 0.7 | 0.5 | 0.6 | 0.5 | 1.0 |
| FCF Yield | -11.4% | -15.1% | -1.5% | -2.8% | 7.4% | -15.9% | -6.2% | 4.6% | 5.5% | -21.1% | -4.0% | -5.6% | -0.6% |
| Market Cap | 792M | 639M | 692M | 1.0B | 670M | 466M | 497M | 825M | 1.1B | 629M | 746M | 601M | 1.2B |
| Avg. Price | 6.76 | 12.48 | 9.62 | 10.49 | 13.47 | 8.33 | 6.81 | 10.66 | 13.20 | 20.00 | 24.73 | 22.92 | 46.75 |
| Year-End Price | 12.78 | 8.74 | 9.46 | 13.79 | 9.07 | 6.19 | 7.15 | 12.12 | 17.07 | 22.79 | 26.99 | 22.43 | 46.75 |
COVENANT LOGISTICS GROUP, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
COVENANT LOGISTICS GROUP, INC. trades at 173.1x trailing earnings, compared to its 15-year median P/E of 18.3x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 11.0% with a gross margin of 64.5%. Total shareholder yield (dividends + buybacks) is 3.5%. At current prices, the estimated annualized return to fair value is +22.7%.
COVENANT LOGISTICS GROUP, INC. (CVLG) reported annual revenue of $1.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a net profit margin of 0.6%. This is a modest margin.
COVENANT LOGISTICS GROUP, INC. (CVLG) generated $-34 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a debt-to-equity ratio of 0.99. This indicates moderate leverage.
COVENANT LOGISTICS GROUP, INC. (CVLG) reported earnings per share (EPS) of $0.27 in its most recent fiscal year.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a return on equity (ROE) of 1.7%. This indicates moderate shareholder returns.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a 5-year average gross margin of 64.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for COVENANT LOGISTICS GROUP, INC. (CVLG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
COVENANT LOGISTICS GROUP, INC. (CVLG) has a book value per share of $15.07, based on its most recent annual SEC filing.