Covenant Logistics Group Inc. (CVLG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.43	$0.42	-2.3%	—	—	—
Q2 26	$0.24	$0.26	+8.3%	—	—	—
Q1 26	$0.33	$0.31	-6.1%	—	—	—
Q4 25	$0.42	$0.45	+7.1%	—	—	—
Q3 25	$0.34	$0.32	-5.9%	—	—	—
Q2 25	$0.49	$0.49	0.0%	—	—	—
Q1 25	$0.53	$0.55	+3.8%	—	—	—
Q4 24	$0.49	$0.52	+6.1%	—	—	—
Q3 24	$0.4	$0.42	+5.0%	—	—	—
Q2 24	$0.51	$0.54	+5.9%	—	—	—
Q1 24	$0.56	$0.56	0.0%	—	—	—
Q4 23	$0.95	$1.07	+12.6%	—	—	—
Q3 23	$0.4	$0.47	+17.5%	—	—	—
Q2 23	$1.42	$1.37	-3.5%	—	—	—
Q1 23	$1.37	$1.52	+10.9%	—	—	—
Q4 22	$1.31	$1.63	+24.4%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.28	—	—	—	—
FY24	—	$1.37	—	—	$1.1B	—
FY23	—	$4.23	—	—	$1.1B	—
FY22	—	$7.24	—	—	$1.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$670.7M	$705M	$880.4M	$885.4M	$838.6M	$1B	$1.2B	$1.1B	$1.1B	—
YoY change	-7.4%	+5.12%	+24.9%	+0.56%	-5.29%	+24.7%	+16.3%	-9.31%	+2.53%	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	670.7M	705M	880.4M	885.4M	838.6M	1B	1.2B	1.1B	1.1B	—
Cost of revenue	573.4M	612.1M	739.7M	780.5M	729M	898.7M	1B	939.4M	941.8M	994.5M
Gross profit	97.2M	92.9M	140.7M	104.9M	109.5M	147.3M	186M	164.2M	189.6M	169.9M
Gross margin	14.5%	13.2%	16%	11.9%	13.1%	14.1%	15.3%	14.9%	16.8%	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	53.1M	54.9M	73.2M	84.8M	93.1M	73M	93.7M	104.6M	131.3M	135.7M
Operating expenses	53.1M	54.9M	73.2M	84.8M	93.1M	73M	93.7M	104.6M	131.3M	135.7M
Operating income	32.4M	28.2M	55.7M	7.1M	4.8M	63.4M	80.4M	46.2M	46.4M	20.5M
Operating margin	4.84%	3.99%	6.33%	0.8%	0.58%	6.06%	6.6%	4.19%	4.1%	—
Non-operating income, net	3M	3.4M	7.4M	8.7M	-14.9M	18.6M	65.5M	34M	13.1M	-2.8M
Pretax income	27.2M	23.3M	55.8M	7.6M	-16.9M	79.2M	142.8M	72.2M	45.9M	5.6M
Income tax	10.4M	-32.1M	14.9M	2.3M	-2.8M	21M	34.9M	17.6M	10.6M	1.2M
Net income	16.8M	55.4M	42.5M	8.5M	-42.7M	60.7M	108.7M	55.2M	35.9M	7.2M
Net margin	2.51%	7.86%	4.83%	0.96%	-5.09%	5.81%	8.93%	5%	3.17%	—
EBITDA	104.1M	100.6M	131.9M	86M	74.3M	132M	163.1M	137.6M	147.6M	127.9M
EPS	0.93	3.03	2.32	0.46	-2.46	3.61	7.24	4.23	1.37	0.28
Diluted EPS	0.92	3.02	2.3	0.45	-2.46	3.61	7	3.99	1.3	0.27

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	288.7M	274M	278.8M	287.5M	287.9M	277.3M	269.4M	302.9M	296.9M	295.4M	307.2M	332.9M
Cost of revenue	244.7M	230.9M	232.7M	235.9M	242.7M	230.5M	227.5M	254.1M	254.5M	258.5M	268.7M	288.3M
Gross profit	44M	43.1M	46M	51.6M	45.2M	46.9M	41.9M	48.7M	42.4M	36.9M	38.5M	44.6M
Gross margin	15.2%	15.7%	16.5%	17.9%	15.7%	16.9%	15.6%	16.1%	14.3%	12.5%	12.5%	13.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	26.1M	25.8M	37.6M	32.9M	25.5M	35.3M	30.3M	33.4M	31.7M	40.2M	28.9M	32.4M
Operating expenses	26.1M	25.8M	37.6M	32.9M	25.5M	35.3M	30.3M	33.4M	31.7M	40.2M	28.9M	32.4M
Operating income	14.5M	14.1M	5M	16.4M	16.4M	8.5M	8M	11.9M	7.4M	-6.8M	6.6M	9.1M
Operating margin	5.04%	5.13%	1.81%	5.71%	5.71%	3.06%	2.95%	3.92%	2.51%	-2.3%	2.16%	2.75%
Non-operating income, net	5.9M	4.9M	3M	3.3M	3.8M	3.1M	3.5M	4M	4.1M	-14.3M	3.3M	5M
Pretax income	17.8M	16.6M	4.7M	15.9M	17M	8.3M	8.5M	13.4M	8M	-24.4M	6.1M	11.1M
Income tax	4.5M	3.9M	849K	3.8M	4.1M	1.8M	2M	3.5M	1.8M	-6.1M	1.7M	2.6M
Net income	13.5M	12.8M	4M	12.2M	13M	6.7M	6.6M	9.8M	9.1M	-18.3M	4.4M	8.5M
Net margin	4.68%	4.67%	1.43%	4.24%	4.53%	2.42%	2.44%	3.25%	3.06%	-6.18%	1.44%	2.56%
EBITDA	38.1M	37M	29.8M	42.6M	41.7M	33.5M	33.5M	39.2M	34M	21.2M	34.3M	37.2M
EPS	1.04	—	0.15	0.47	0.49	0.26	0.25	0.38	0.36	-0.73	0.18	0.34
Diluted EPS	0.99	—	0.14	0.44	0.47	0.24	0.24	0.36	0.35	-0.73	0.17	0.32

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	175.8M	262.6M	176.1M	119.2M	128.5M	222.1M	—	—	—	565.3M	830.1M
Enterprise value	384.1M	461M	390.6M	424.3M	231.7M	287.9M	—	—	—	899M	1.1B
Shares outstanding	18.2M	18.3M	18.3M	18.4M	17.4M	16.8M	15M	13M	26.3M	25.6M	25.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	10.4	4.74	4.14	14.1	—	3.66	—	—	—	78.1	649.4
P/S	0.26	0.37	0.2	0.13	0.15	0.21	—	—	—	—	0.67
P/B	0.74	0.89	0.51	0.34	0.44	0.63	—	—	—	1.4	1.99
EV/EBITDA	3.69	4.58	2.96	4.93	3.12	2.18	—	—	—	7.03	10.1
EV/Sales	0.57	0.65	0.44	0.48	0.28	0.28	—	—	—	—	0.93
Earnings yield	9.58%	21.1%	24.1%	7.11%	—	27.3%	—	—	—	1.28%	0.15%
FCF yield	-5.89%	-10.6%	28.2%	-62.3%	-24.1%	17.1%	—	—	—	-6%	-5.39%
PEG	—	—	—	—	—	—	—	—	—	—	-61.7

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	14.5%	13.2%	16%	11.9%	13.1%	14.1%	15.3%	14.9%	16.8%	—	13.4%
Operating margin	4.84%	3.99%	6.33%	0.8%	0.58%	6.06%	6.6%	4.19%	4.1%	—	2.84%
Net margin	2.51%	7.86%	4.83%	0.96%	-5.09%	5.81%	8.93%	5%	3.17%	—	0.31%
ROE	7.12%	18.8%	12.4%	2.42%	-14.7%	17.4%	28.8%	13.7%	8.19%	1.79%	0.23%
ROA	2.71%	8.53%	5.49%	0.96%	-6.31%	9.32%	13.6%	5.79%	3.6%	0.69%	1.15%
ROIC	4.51%	5.7%	7.31%	0.75%	1.23%	11.2%	12.4%	5.03%	5.1%	2.19%	2.23%
Return on tangible assets	2.71%	8.53%	6.8%	1.15%	-7.87%	11.6%	18.6%	9.15%	5.45%	1.08%	0.59%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.54	2	1.66	1.58	1.11	1.32	1.43	1.09	1.18	1.11	1.14
Quick ratio	1.49	1.95	1.63	1.55	1.08	1.3	1.4	1.06	1.15	1.08	1.1
Debt / equity	0.91	0.72	0.69	1	0.38	0.21	0.48	0.73	0.68	0.84	0.79
Debt / assets	0.35	0.33	0.31	0.4	0.16	0.11	0.23	0.31	0.3	0.32	0.32
Net debt / EBITDA	2	1.97	1.63	3.55	1.39	0.5	0.68	2.12	1.77	2.61	2.54
Interest coverage	—	—	—	—	-1.47	29.4	47.3	10.1	4.38	1.46	1.07
Effective tax rate	38.2%	0%	26.8%	31%	0%	26.5%	24.4%	24.4%	23%	21.1%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	36.9	38.6	48	48	48.3	62.3	81.1	84.6	43	—	49.1
EPS (basic)	0.93	3.03	2.32	0.46	-2.46	3.61	7.24	4.23	1.37	0.28	0.28
EPS (diluted)	0.92	3.02	2.3	0.45	-2.46	3.61	7	3.99	1.3	0.27	0.05
Book value per share	13	16.1	18.7	19	16.7	20.8	25.1	30.9	16.7	15.8	16.3
FCF per share	-0.57	-1.53	2.71	-4.03	-1.79	2.26	3.92	-10.2	-1.14	-1.32	-1.42
Cash per share	0.43	0.84	1.26	2.36	0.48	0.5	4.58	0.18	1.35	0.19	0.1
Capex per share	2.6	3.39	0.73	4.97	1.63	0.53	3.16	9.64	3.9	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.05%	8.8%	1.53%	10.4%	3.37%	0.85%	3.9%	11.4%	9.06%	—	—
Capex / operating cash flow	44.4%	78.2%	10.4%	128.2%	-95.2%	7.5%	21.6%	107.7%	80.7%	—	—
Payout ratio	—	—	—	—	—	0%	3.94%	10.5%	16.1%	98.9%	560%
Dividend yield	—	—	—	—	—	0%	—	—	—	1.27%	0.86%

Yield

0.86%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.07

ex-dividend Sep 4, 2026

Payout ratio

560%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$0.07
Jun 5, 2026	$0.07
Mar 6, 2026	$0.07
Dec 5, 2025	$0.07
Sep 5, 2025	$0.07
Jun 6, 2025	$0.07
Mar 7, 2025	$0.07
Dec 6, 2024	$0.0275

Split history

Date	Ratio

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$288.7M	$274M	$278.8M	$287.5M	$287.9M	$277.3M	$269.4M	$302.9M	$296.9M	$295.4M	$307.2M	$332.9M
YoY change	-7.41%	-7.46%	+4.46%	+4.92%	-0.29%	+1.22%	-3.37%	+5.34%	+3.13%	+6.51%	+14%	+9.91%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.8M	15.4M	23.1M	43.6M	8.4M	8.4M	68.7M	2.3M	35.6M	4.9M
Receivables	96.6M	104.2M	151.1M	81.2M	91.3M	142.4M	119.8M	142.5M	141.6M	151.8M
Inventory	4M	4.2M	4.1M	4.2M	3.1M	3.3M	3.5M	4.8M	5.6M	6.3M
Total current assets	135M	162.3M	211.6M	254.4M	147.8M	188.5M	222.7M	185.9M	213.8M	232.8M
Property, plant & equipment	401.8M	394.1M	379.3M	447.9M	334.1M	274.3M	311.2M	410.3M	427.2M	417.1M
Goodwill & intangibles	0	0	148.3M	144.3M	134.1M	126M	212.8M	350.7M	338.1M	372.2M
Total assets	620.5M	649.7M	773.5M	881.6M	676.7M	651.7M	796.6M	954.4M	997.6M	1B
Accounts payable	13M	11.9M	22.1M	19.5M	31.7M	29.9M	33.9M	33.2M	31.9M	45.5M
Short-term debt	27.6M	27.6M	35.9M	81.7M	31.5M	28.4M	42.4M	60.4M	75.3M	77M
Total current liabilities	87.8M	81.2M	127.3M	161.3M	133.4M	142.7M	156.1M	170.3M	181.3M	210M
Long-term debt	188.4M	186.2M	201.8M	267.1M	80.1M	45.9M	137.2M	233.1M	221.6M	261.7M
Total liabilities	384.1M	354.5M	430.4M	531.5M	386.1M	302M	419.5M	551M	559.2M	641.6M
Shareholders' equity	236.4M	295.2M	343.1M	350.1M	290.6M	349.7M	377.1M	403.4M	438.3M	404M
Total debt	216M	213.8M	237.7M	348.8M	111.6M	74.3M	179.6M	293.5M	296.9M	338.7M
Net debt	208.3M	198.4M	214.6M	305.2M	103.2M	65.8M	111M	291.2M	261.3M	333.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	7.4M	2.3M	3M	1.3M	35.2M	35.6M	11.2M	143K	2.7M	4.9M	11.2M	2.6M
Receivables	154.2M	142.5M	144M	145.1M	135.1M	141.6M	141.1M	152.4M	150.4M	151.8M	155.7M	166.4M
Inventory	4.9M	4.8M	5.1M	5.6M	6.1M	5.6M	5.5M	5.4M	6.1M	6.3M	7.2M	6.7M
Total current assets	202.5M	185.9M	180.4M	201.8M	214.7M	213.8M	179.8M	196.6M	194.6M	232.8M	211.1M	220M
Property, plant & equipment	-169.2M	410.3M	-188M	-193.2M	-198.6M	427.2M	-216.9M	-220M	-231.5M	417.1M	490M	493.7M
Goodwill & intangibles	350.3M	350.7M	355.1M	347.6M	342.9M	338.1M	354.2M	350.3M	345M	372.2M	366.1M	360.4M
Total assets	892.2M	954.4M	943.4M	995M	1B	997.6M	980M	1B	1B	1B	1B	1B
Accounts payable	34.2M	33.2M	31.6M	31.6M	31.6M	31.9M	31.9M	35M	32.6M	45.5M	50.4M	34.2M
Short-term debt	47.1M	60.4M	71.8M	83.5M	85.1M	75.3M	61.9M	64.7M	75.8M	77M	65.6M	78M
Total current liabilities	171.3M	170.3M	173.4M	187.7M	194.6M	181.3M	164.3M	179.9M	192.4M	210M	202.2M	193.4M
Long-term debt	194.6M	233.1M	220.5M	235M	231.4M	221.6M	216.3M	245.8M	233.3M	261.7M	226.2M	246.5M
Total liabilities	498.1M	551M	536.2M	575.6M	578.1M	559.2M	536.3M	592.2M	601.5M	641.6M	609.2M	592.9M
Shareholders' equity	394M	403.4M	407.2M	419.4M	431.6M	438.3M	443.6M	416.9M	423.7M	404M	407.6M	412.9M
Total debt	241.7M	293.5M	292.3M	318.5M	316.5M	296.9M	278.2M	310.5M	309.1M	338.7M	291.7M	324.4M
Net debt	234.3M	291.2M	289.3M	317.2M	281.3M	261.3M	266.9M	310.4M	306.4M	333.8M	280.5M	321.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	16.8M	55.4M	42.5M	8.5M	-42.7M	60.7M	108.7M	55.2M	35.9M	7.2M
Depreciation & amortization	71.6M	72.4M	75.9M	80.5M	65.5M	53.9M	57.5M	69.9M	86.5M	92.7M
Stock-based compensation	1.4M	1.2M	5.2M	819K	2.3M	9.1M	6.6M	7.1M	3.7M	3.6M
Change in working capital	16.1M	-27.3M	-7.8M	-21.8M	-39.9M	-23.8M	33.1M	-31.9M	-2.5M	-1.1M
Operating cash flow	106.5M	79.4M	129.7M	71.5M	-29.7M	117.9M	219.3M	116.8M	127M	113.6M
Capital expenditure	-47.3M	-62.1M	-13.5M	-91.7M	28.2M	8.8M	-47.5M	-125.8M	-102.5M	—
Investing cash flow	-47.3M	-62.1M	-120.9M	-93M	139.5M	10.3M	-86.2M	-235.9M	-107.1M	-27.1M
Dividends paid	—	—	—	—	—	0	-4.3M	-5.8M	-5.8M	-7.2M
Share repurchases	0	0	0	0	-17.5M	-10.3M	-84.7M	-25.4M	0	-36.6M
Financing cash flow	-51.9M	-13.2M	3.9M	49.5M	-1.6B	-83.6M	-13.2M	84.5M	16.4M	-4.7M
Net change in cash	7.3M	4.1M	12.7M	27.9M	-1.5B	44.7M	119.9M	-34.6M	36.2M	81.9M
Free cash flow	-10.4M	-27.9M	49.7M	-74.2M	-31M	37.9M	58.8M	-132.8M	-30.1M	-33.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	13.5M	12.8M	4M	12.2M	13M	6.7M	6.6M	9.8M	9.1M	-18.3M	4.4M	8.5M
Depreciation & amortization	18.2M	18.2M	21.1M	22.1M	21.2M	22.1M	21.8M	23.1M	23M	24.9M	24M	22.8M
Stock-based compensation	1.9M	1.9M	947K	765K	988K	991K	1M	920K	1.1M	574K	934K	228K
Change in working capital	-5.1M	-5.8M	-5M	-12.3M	19.4M	-4.5M	-12.4M	5.8M	857K	4.7M	-3.2M	-24.9M
Operating cash flow	30.8M	40.3M	15.4M	34.2M	53.6M	23.8M	14M	39.4M	41.4M	25.5M	29M	-10.9M
Capital expenditure	-23.1M	-90.7M	-38.8M	-42.8M	-17.5M	-3.4M	-23.9M	-28.9M	—	—	—	—
Investing cash flow	-31.1M	-90.7M	-43.3M	-42.8M	-17.5M	-3.4M	-23.9M	-28.9M	0	-27.1M	—	—
Dividends paid	-1.4M	-1.4M	-1.4M	-1.4M	-1.4M	-1.5M	-1.9M	-1.8M	-1.8M	-1.8M	-1.8M	-1.8M
Share repurchases	0	58K	0	0	0	0	—	—	-1M	7K	—	—
Financing cash flow	-9.8M	54.4M	22M	18.3M	-5.3M	-18.6M	-25.5M	32M	-1.4M	27.6M	-47M	26.8M
Net change in cash	-10.1M	3.9M	-5.9M	9.6M	30.7M	1.7M	-35.5M	42.6M	39.9M	26.1M	-18M	15.9M
Free cash flow	-12.4M	-73.7M	-26.7M	-28.1M	24.3M	464K	-8.6M	-14.5M	-7.8M	-3M	17.6M	-44.7M

Covenant Logistics Group Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement