Marten Transport, Ltd. (MRTN) 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 %
Q2 26	$0.08	$0.07	-12.5%	—	$223.5M	—
Q1 26	$0.02	$0.02	0.0%	—	$203.5M	—
Q4 25	$0.03	$0.05	+66.7%	—	$210.1M	—
Q3 25	$0.04	$0.03	-25.0%	—	$220.5M	—
Q2 25	$0.08	$0.09	+12.5%	—	$229.9M	—
Q1 25	$0.05	$0.05	0.0%	—	$223.2M	—
Q4 24	$0.06	$0.07	+16.7%	—	$230.4M	—
Q3 24	$0.06	$0.05	-16.7%	—	$237.4M	—
Q2 24	$0.11	$0.1	-9.1%	—	$246.2M	—
Q1 24	$0.14	$0.12	-14.3%	—	$249.7M	—
Q4 23	$0.18	$0.15	-16.7%	—	$268.2M	—
Q3 23	$0.18	$0.17	-5.6%	—	$279.5M	—
Q2 23	$0.28	$0.27	-3.6%	—	$285.7M	—
Q1 23	$0.27	$0.28	+3.7%	—	$298M	—
Q4 22	$0.31	$0.31	0.0%	—	$322.6M	—
Q3 22	$0.34	$0.32	-5.9%	—	$324.4M	—

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	—	$0.21	—	—	$883.7M	—
FY24	—	$0.33	—	—	$963.7M	—
FY23	—	$0.87	—	—	$1.1B	—
FY22	—	$1.35	—	—	$1.3B

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	$671.1M	$698.1M	$787.6M	$843.3M	$874.4M	$973.6M	$1.3B	$1.1B	$963.7M	$883.7M
YoY change	+0.92%	+4.02%	+12.8%	+7.07%	+3.69%	+11.4%	+29.8%	-10.5%	-14.8%	-8.31%

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	671.1M	698.1M	787.6M	843.3M	874.4M	973.6M	1.3B	1.1B	963.7M	883.7M
Cost of revenue	556M	576.6M	647.7M	696.3M	703.6M	790.5M	1B	942.7M	833M	767.8M
Gross profit	115.2M	121.6M	139.9M	147M	170.8M	183.2M	238.5M	188.7M	130.7M	115.9M
Gross margin	17.2%	17.4%	17.8%	17.4%	19.5%	18.8%	18.9%	16.7%	13.6%	13.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	38.5M	44.6M	45.3M	45.9M	55.5M	50.3M	59.7M	66.2M	62.1M	64.4M
Operating expenses	58.3M	61.2M	67.3M	69M	77.1M	77.2M	97.8M	101.2M	92.2M	95.3M
Operating income	47.8M	51.4M	63.1M	67.8M	82.8M	95.4M	130M	76.5M	28.2M	10.8M
Operating margin	7.12%	7.36%	8.01%	8.04%	9.47%	9.8%	10.3%	6.76%	2.93%	1.23%
Non-operating income, net	9.3M	5.1M	7.9M	9.9M	10.6M	16.3M	14.2M	17.4M	8.1M	13.5M
Pretax income	57.1M	56.5M	71M	77.7M	93.4M	111.7M	144.2M	93.9M	36.3M	24.4M
Income tax	23.6M	-33.8M	16M	16.6M	23.9M	26.3M	33.8M	23.5M	9.4M	6.9M
Net income	33.5M	90.3M	55M	61.1M	69.5M	85.4M	110.4M	70.4M	26.9M	17.4M
Net margin	4.99%	12.9%	6.99%	7.24%	7.95%	8.77%	8.73%	6.22%	2.79%	1.97%
EBITDA	119.7M	131M	144.4M	154.3M	175.2M	181.7M	227.6M	179.6M	134.9M	104.2M
EPS	0.41	1.11	0.67	0.75	0.84	1.03	1.35	0.87	0.33	0.21
Diluted EPS	0.41	1.1	0.67	0.74	0.84	1.02	1.35	0.86	0.33	0.21

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	279.5M	268.2M	249.7M	246.2M	237.4M	230.4M	223.2M	229.9M	220.5M	210.1M	203.5M	223.5M
Cost of revenue	237.9M	226.2M	214.7M	213.2M	207.9M	197.1M	192.6M	197.2M	195.8M	182.2M	179.6M	197.2M
Gross profit	41.6M	42M	34.9M	33M	29.4M	33.3M	30.6M	32.7M	24.7M	27.9M	23.9M	26.3M
Gross margin	14.9%	15.7%	14%	13.4%	12.4%	14.5%	13.7%	14.2%	11.2%	13.3%	11.7%	11.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	15.8M	17.7M	14M	14.9M	15.9M	17.3M	15.7M	18M	13.5M	17.3M	15.3M	11.5M
Operating expenses	24.6M	25.5M	21.3M	23M	23.5M	24.3M	24M	25.7M	21.4M	24.2M	21.5M	18.8M
Operating income	14.2M	13.9M	11.1M	7.4M	3.4M	6.3M	4.2M	4.6M	835K	1.3M	172K	5.2M
Operating margin	5.09%	5.17%	4.44%	3.02%	1.43%	2.75%	1.88%	1.98%	0.38%	0.6%	0.08%	2.35%
Non-operating income, net	4M	2.7M	2M	3.5M	1.8M	781K	2M	5.6M	2.1M	3.8M	1.9M	2.4M
Pretax income	18.2M	16.5M	13M	11M	5.2M	7.1M	6.2M	10.2M	3M	5M	2M	7.6M
Income tax	4.6M	4.1M	3.4M	3.1M	1.4M	1.5M	1.9M	3M	725K	1.4M	667K	2.3M
Net income	13.6M	12.4M	9.6M	7.9M	3.8M	5.6M	4.3M	7.2M	2.2M	3.7M	1.4M	5.3M
Net margin	4.86%	4.62%	3.86%	3.2%	1.58%	2.44%	1.94%	3.13%	1.01%	1.76%	0.68%	2.39%
EBITDA	40.2M	40.8M	38.4M	33.1M	29.9M	33.5M	30M	26.7M	24.4M	23.1M	23.8M	28.3M
EPS	0.17	0.15	0.12	0.1	0.05	0.07	0.05	0.09	0.03	0.05	0.02	0.07
Diluted EPS	0.17	0.15	0.12	0.1	0.05	0.07	0.05	0.09	0.03	0.05	0.02	0.07

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	757.4M	1.1B	883.8M	1.2B	1.4B	1.4B	1.6B	1.7B	1.3B	927.6M	1.1B
Enterprise value	764.8M	1.1B	827M	1.1B	1.4B	1.4B	1.5B	1.7B	1.3B	884.5M	947.4M
Shares outstanding	81.3M	81.7M	81.9M	81.9M	82.5M	82.9M	81.7M	81.3M	81.4M	81.5M	81.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.6	12.3	16.1	19.2	20.5	16.6	14.6	24.2	47.2	53.2	85.6
P/S	1.13	1.58	1.12	1.39	1.63	1.46	1.28	1.51	1.32	1.05	1.22
P/B	1.73	2.11	1.53	1.96	2.29	2.18	2.3	2.25	1.65	1.21	1.37
EV/EBITDA	6.39	8.32	5.73	7.41	7.74	7.52	6.75	9.2	9.29	8.49	8.31
EV/Sales	1.14	1.56	1.05	1.36	1.55	1.4	1.22	1.46	1.3	1	1.1
Earnings yield	4.42%	8.16%	6.23%	5.2%	4.89%	6.01%	6.83%	4.13%	2.12%	1.88%	1.17%
FCF yield	-3.77%	-3.13%	-1.62%	-2.81%	1.16%	-1.98%	2.65%	-4.47%	-7.74%	-5.51%	-0.57%
PEG	—	—	—	—	—	—	—	—	—	—	-3.85

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	17.2%	17.4%	17.8%	17.4%	19.5%	18.8%	18.9%	16.7%	13.6%	13.1%	11.8%
Operating margin	7.12%	7.36%	8.01%	8.04%	9.47%	9.8%	10.3%	6.76%	2.93%	1.23%	2.34%
Net margin	4.99%	12.9%	6.99%	7.24%	7.95%	8.77%	8.73%	6.22%	2.79%	1.97%	1.47%
ROE	7.65%	17.2%	9.55%	10.2%	11.2%	13.1%	15.7%	9.29%	3.51%	2.27%	1.65%
ROA	5.12%	13.1%	7.3%	7.67%	8.36%	9.81%	11.4%	7.11%	2.78%	1.84%	0.48%
ROIC	6.3%	10.1%	9.42%	9.41%	11.1%	12.3%	15.9%	8.14%	2.79%	1.07%	0.81%
Return on tangible assets	5.12%	13.1%	7.3%	7.67%	8.36%	9.81%	11.4%	7.11%	2.78%	1.84%	1.32%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.54	1.81	2.27	2.02	1.96	2	1.9	1.78	1.48	1.86	2.5
Quick ratio	1.54	1.81	2.27	2.02	1.96	2	1.9	1.78	1.48	1.86	2.5
Debt / equity	0.02	—	—	0	0	0	0	0	0	0	0
Debt / assets	0.01	—	—	0	0	0	0	0	0	0	0
Net debt / EBITDA	0.06	—	—	-0.2	-0.38	-0.31	-0.35	-0.29	-0.13	-0.41	-1.04
Effective tax rate	41.4%	0%	22.5%	21.4%	25.6%	23.5%	23.5%	25.1%	25.9%	28.4%	28.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.26	8.54	9.62	10.3	10.6	11.7	15.5	13.9	11.8	10.8	10.5
EPS (basic)	0.41	1.11	0.67	0.75	0.84	1.03	1.35	0.87	0.33	0.21	0.21
EPS (diluted)	0.41	1.1	0.67	0.74	0.84	1.02	1.35	0.86	0.33	0.21	0.15
Book value per share	5.38	6.43	7.03	7.29	7.52	7.86	8.62	9.32	9.43	9.42	9.38
FCF per share	-0.35	-0.42	-0.17	-0.4	0.2	-0.34	0.52	-0.94	-1.21	-0.63	0.01
Cash per share	0.01	0.19	0.69	0.38	0.8	0.69	0.99	0.65	0.21	0.53	1.27
Capex per share	1.2	1.17	1.28	1.73	1.29	1.49	1.65	2.12	1.87	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	14.5%	13.6%	13.3%	16.8%	12.2%	12.7%	10.7%	15.2%	15.8%	—	—
Capex / operating cash flow	69.7%	77.2%	68.3%	82.1%	54.9%	67.4%	58.4%	90.2%	101.6%	—	—
Payout ratio	9.72%	4.83%	9.92%	68.9%	75.3%	64.1%	17.7%	27.7%	72.6%	112.1%	160%
Dividend yield	0.43%	0.39%	0.62%	3.59%	3.68%	3.85%	1.21%	1.14%	1.54%	2.11%	1.86%

Yield

1.86%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.06

ex-dividend Sep 16, 2026

Payout ratio

160%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.06
Jun 16, 2026	$0.06
Mar 17, 2026	$0.06
Dec 15, 2025	$0.06
Sep 16, 2025

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	$279.5M	$268.2M	$249.7M	$246.2M	$237.4M	$230.4M	$223.2M	$229.9M	$220.5M	$210.1M	$203.5M	$223.5M
YoY change	-13.8%	-16.9%	-16.2%	-13.8%	-15.1%	-14.1%	-10.6%	-6.63%	-7.12%	-8.82%	-8.79%	-2.77%

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	488K	15.8M	56.8M	31.5M	66.1M	57M	80.6M	53.2M	17.3M	43.3M
Receivables	69.2M	74.9M	83M	90.7M	83.4M	99M	120.7M	105.5M	90M	85.8M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	93.4M	116.6M	163.5M	154.2M	175.7M	186.9M	235.8M	196.6M	138.5M	171.7M
Property, plant & equipment	557.8M	571.9M	588.2M	640.4M	654.2M	682.8M	728.9M	792.8M	829.2M	777M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	653.7M	690.4M	753.9M	796.6M	831.6M	870.7M	965.7M	990.3M	968.8M	949.8M
Accounts payable	14.4M	16.5M	15.7M	22.9M	25.7M	20.1M	37.3M	36.5M	25.8M	28.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	60.7M	64.3M	72M	76.3M	89.8M	93.6M	124.3M	110.2M	93.5M	92.2M
Long-term debt	7.9M	—	—	649K	411K	291K	409K	249K	282K	194K
Total liabilities	216.4M	164.9M	177.9M	199M	211.3M	219M	261.8M	233M	200.8M	182.1M
Shareholders' equity	437.3M	525.5M	576M	597.6M	620.3M	651.7M	703.9M	757.4M	767.9M	767.6M
Total debt	7.9M	—	—	649K	411K	291K	409K	249K	282K	194K
Net debt	7.4M	—	—	-30.8M	-65.7M	-56.7M	-80.2M	-53M	-17M	-43.1M

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	68.1M	53.2M	73.7M	77.2M	43M	17.3M	39.9M	35.1M	49.5M	43.3M	69.8M	104M
Receivables	117.8M	105.5M	105.2M	99.9M	93.5M	90M	95.3M	91.4M	92M	85.8M	91.9M	92M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	224.6M	196.6M	214M	219.6M	170.3M	138.5M	162.5M	155.8M	176M	171.7M	195.6M	237.9M
Property, plant & equipment	-358.4M	792.8M	-378.2M	-361M	-364.7M	829.2M	-380.3M	-373.1M	-355.3M	777M	-362.7M	-363.5M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	997.2M	990.3M	993M	1B	1B	968.8M	983.3M	991.8M	975.7M	949.8M	947.2M	955.5M
Accounts payable	42M	36.5M	37.7M	47.2M	47.3M	25.8M	37.8M	44.9M	39.7M	28.8M	27.8M	28M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	121.6M	110.2M	111.4M	119M	116.7M	93.5M	109.6M	116.7M	115.6M	92.2M	94.3M	95M
Long-term debt	316K	249K	202K	220K	351K	282K	385K	317K	250K	194K	157K	119K
Total liabilities	247.8M	233M	230.6M	243.1M	233.5M	200.8M	215.8M	221.1M	207.5M	182.1M	183M	189.5M
Shareholders' equity	749.4M	757.4M	762.4M	766.8M	766.5M	767.9M	767.5M	770.7M	768.2M	767.6M	764.2M	766M
Total debt	316K	249K	202K	220K	351K	282K	385K	317K	250K	194K	157K	119K
Net debt	-67.8M	-53M	-73.5M	-77M	-42.6M	-17M	-39.5M	-34.7M	-49.2M	-43.1M	-69.6M	-103.9M

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	33.5M	90.3M	55M	61.1M	69.5M	85.4M	110.4M	70.4M	26.9M	17.4M
Depreciation & amortization	82.4M	85.1M	88.6M	95.1M	102.9M	102.6M	111M	116.7M	111.7M	105.4M
Stock-based compensation	883K	1.3M	3.3M	1.8M	1.9M	2.5M	2.8M	2.3M	2.2M	1.9M
Change in working capital	9.1M	-6M	-6.3M	-8.4M	13.6M	-17.6M	-11.7M	9.1M	17.4M	-2.2M
Operating cash flow	139.4M	123.5M	153.4M	172.6M	193.5M	183.4M	231M	191.1M	149.7M	93.5M
Capital expenditure	-97.2M	-95.3M	-104.8M	-141.7M	-106.3M	-123.7M	-134.9M	-172.5M	-152.1M	—
Investing cash flow	-97.3M	-95.3M	-104.9M	-140.5M	-106.3M	-123.7M	-135M	-172.5M	-152.1M	-52K
Dividends paid	-3.3M	-4.4M	-5.5M	-42.1M	-52.4M	-54.7M	-19.6M	-19.5M	-19.5M	-19.6M
Share repurchases	-7.5M	0	-3.8M	0	-597K	0	-41.8M	0	0	—
Financing cash flow	-36.5M	-11.3M	-8.4M	-41.3M	-53.4M	-57.5M	-62.9M	-20.4M	-19.9M	-19.8M
Net change in cash	5.7M	16.9M	40.2M	-9.2M	33.8M	2.2M	33.1M	-1.8M	-22.4M	73.6M
Free cash flow	-28.6M	-34.7M	-14.3M	-32.9M	16.5M	-28.1M	42.9M	-76.2M	-98.4M	-51.1M

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	13.6M	12.4M	9.6M	7.9M	3.8M	5.6M	4.3M	7.2M	2.2M	3.7M	1.4M	5.3M
Depreciation & amortization	29M	28.7M	28.5M	28.2M	27.4M	27.5M	27.5M	27.3M	25.4M	25.2M	25M	24.8M
Stock-based compensation	501K	459K	353K	1M	419K	453K	407K	921K	149K	382K	135K	621K
Change in working capital	-4.9M	2.4M	8.2M	3.8M	4.4M	927K	-1.3M	3.2M	3.6M	-7.7M	1.5M	-4.5M
Operating cash flow	33.2M	42.3M	45M	47.7M	30.2M	26.8M	31.3M	38.5M	18.5M	5.6M	33M	27.7M
Capital expenditure	-35.8M	-48.1M	-20.2M	-27.8M	-59.2M	-44.9M	-8.4M	-33.1M	—	—	—	—
Investing cash flow	-35.8M	-48.1M	-20.2M	-27.8M	-59.2M	-44.9M	-8.4M	-33.1M	0	0	-54K	0
Dividends paid	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M	-4.9M
Share repurchases	0	0	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-4.9M	-4.9M	-5.3M	-4.9M	-4.9M	-4.9M	-5.2M	-4.9M	-4.9M	-4.9M	-5.2M	-4.9M
Net change in cash	-7.5M	-10.6M	19.5M	15.1M	-33.9M	-23M	17.7M	521K	13.6M	691K	27.8M	22.8M
Free cash flow	-24.8M	-26.9M	15.4M	-29.5M	-49.8M	-34.5M	17.4M	-23.8M	-30.7M	-13.9M	21.1M	24.6M

Date	Ratio
Aug 14, 2020	3:2
Jul 10, 2017	5:3
Jun 17, 2013	3:2
Dec 27, 2005	3:2
Dec 8, 2003	3:2
Jul 25, 2003	3:2
Jan 6, 1998	3:2

Marten Transport, Ltd. 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

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

Split history