Covenant Logistics (CVLG)
Market Price (4/19/2026): $30.5 | Market Cap: $761.8 MilSector: Industrials | Industry: Air Freight & Logistics
Covenant Logistics (CVLG)
Market Price (4/19/2026): $30.5Market Cap: $761.8 MilSector: IndustrialsIndustry: Air Freight & Logistics
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Future of Freight, Automation & Robotics, and E-commerce & DTC Adoption. Themes include Freight Technology, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns2Y Excs Rtn is -2.1% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/EPrice/Earnings or Price/(Net Income) is 105x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% Key risksCVLG key risks include [1] significant customer concentration, Show more. |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Future of Freight, Automation & Robotics, and E-commerce & DTC Adoption. Themes include Freight Technology, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -2.1% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/EPrice/Earnings or Price/(Net Income) is 105x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.3% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksCVLG key risks include [1] significant customer concentration, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Improving Freight Market Fundamentals and Industry Outlook.
The stock's ascent was significantly propelled by an improving freight market. Management noted early signs of a freight-market inflection during the Q4 2025 earnings call in January, reporting spot rates rising in Q4 and an average rate improvement of approximately 3.5% in the first three weeks of January 2026. The broader trucking sector saw capacity tightening due to organic supply reductions and weak equipment sales, leading to spot rates being elevated by over 25% year-over-year as of March 2026, with LTL rates up 5.2% year-over-year. This tightening capacity and subsequent rise in freight rates provided a strong tailwind for the logistics industry, including Covenant Logistics.
2. Strategic Business Reallocation and Positive Management Outlook.
Covenant Logistics' strategic initiatives and management's forward-looking statements contributed to investor confidence. During the Q4 2025 earnings call on January 29, 2026, the company reported an adjusted EPS of $0.31, despite a GAAP net loss. Management articulated plans for 2026 to exit unprofitable business relationships, moderately reduce its total truckload fleet while growing the most profitable components, improve free cash flow, and deleverage its balance sheet. Analysts project a 31% normalized earnings jump for Covenant Logistics in 2026, driven by its transition towards less cyclical, higher-margin segments such as expedited, dedicated, managed freight, and warehousing.
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Stock Movement Drivers
Fundamental Drivers
The 38.7% change in CVLG stock from 12/31/2025 to 4/18/2026 was primarily driven by a 515.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.99 | 30.49 | 38.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,146 | 1,164 | 1.6% |
| Net Income Margin (%) | 2.8% | 0.6% | -77.9% |
| P/E Multiple | 17.1 | 105.2 | 515.8% |
| Shares Outstanding (Mil) | 25 | 25 | 0.2% |
| Cumulative Contribution | 38.7% |
Market Drivers
12/31/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| CVLG | 38.7% | |
| Market (SPY) | -5.4% | 44.7% |
| Sector (XLI) | 11.9% | 56.7% |
Fundamental Drivers
The 41.6% change in CVLG stock from 9/30/2025 to 4/18/2026 was primarily driven by a 578.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.54 | 30.49 | 41.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,137 | 1,164 | 2.4% |
| Net Income Margin (%) | 3.2% | 0.6% | -80.4% |
| P/E Multiple | 15.5 | 105.2 | 578.1% |
| Shares Outstanding (Mil) | 26 | 25 | 4.3% |
| Cumulative Contribution | 41.6% |
Market Drivers
9/30/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| CVLG | 41.6% | |
| Market (SPY) | -2.9% | 42.1% |
| Sector (XLI) | 12.9% | 51.9% |
Fundamental Drivers
The 39.0% change in CVLG stock from 3/31/2025 to 4/18/2026 was primarily driven by a 552.1% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.94 | 30.49 | 39.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,131 | 1,164 | 2.9% |
| Net Income Margin (%) | 3.2% | 0.6% | -80.4% |
| P/E Multiple | 16.1 | 105.2 | 552.1% |
| Shares Outstanding (Mil) | 26 | 25 | 5.7% |
| Cumulative Contribution | 39.0% |
Market Drivers
3/31/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| CVLG | 39.0% | |
| Market (SPY) | 16.3% | 57.0% |
| Sector (XLI) | 33.8% | 62.8% |
Fundamental Drivers
The 77.5% change in CVLG stock from 3/31/2023 to 4/18/2026 was primarily driven by a 2358.6% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.17 | 30.49 | 77.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,217 | 1,164 | -4.3% |
| Net Income Margin (%) | 8.9% | 0.6% | -93.0% |
| P/E Multiple | 4.3 | 105.2 | 2358.6% |
| Shares Outstanding (Mil) | 27 | 25 | 8.4% |
| Cumulative Contribution | 77.5% |
Market Drivers
3/31/2023 to 4/18/2026| Return | Correlation | |
|---|---|---|
| CVLG | 77.5% | |
| Market (SPY) | 63.3% | 49.8% |
| Sector (XLI) | 78.8% | 58.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CVLG Return | 78% | 32% | 35% | 19% | -18% | 33% | 312% |
| Peers Return | 18% | 7% | 1% | 8% | -22% | 23% | 33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 3% | 87% |
Monthly Win Rates [3] | |||||||
| CVLG Win Rate | 83% | 58% | 58% | 58% | 42% | 75% | |
| Peers Win Rate | 60% | 40% | 43% | 45% | 52% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CVLG Max Drawdown | -3% | -32% | -13% | -6% | -35% | 0% | |
| Peers Max Drawdown | -6% | -22% | -18% | -18% | -40% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KNX, SNDR, WERN, HTLD, ULH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/17/2026 (YTD)
How Low Can It Go
| Event | CVLG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -47.7% | -25.4% |
| % Gain to Breakeven | 91.2% | 34.1% |
| Time to Breakeven | 103 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -58.0% | -33.9% |
| % Gain to Breakeven | 138.3% | 51.3% |
| Time to Breakeven | 98 days | 148 days |
| 2018 Correction | ||
| % Loss | -62.8% | -19.8% |
| % Gain to Breakeven | 168.8% | 24.7% |
| Time to Breakeven | 686 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -88.6% | -56.8% |
| % Gain to Breakeven | 780.7% | 131.3% |
| Time to Breakeven | 2,038 days | 1,480 days |
Compare to KNX, SNDR, WERN, HTLD, ULH
In The Past
Covenant Logistics's stock fell -47.7% during the 2022 Inflation Shock from a high on 10/20/2021. A -47.7% loss requires a 91.2% gain to breakeven.
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About Covenant Logistics (CVLG)
AI Analysis | Feedback
It's like J.B. Hunt, providing a broad range of truckload transportation, logistics, and warehousing services.
Think of it as a hybrid of Schneider National (for its own truck fleet and dedicated services) and C.H. Robinson (for its freight brokerage and managed logistics).
AI Analysis | Feedback
- Expedited Truckload Services: Provides high-priority truckload freight delivery adhering to strict service and delivery standards.
- Dedicated Contracted Capacity: Offers customers committed truckload capacity over contracted periods using company-owned or leased equipment.
- Freight Brokerage Services: Arranges logistics capacity for customers by outsourcing the carriage of their freight to third-party carriers.
- Transport Management Services: Delivers contractual logistics services for customers who prefer to outsource their entire logistics needs.
- Warehouse Management Services: Manages day-to-day warehouse operations for customers.
- Shuttle and Switching Services: Provides services for shuttling containers and trailers.
- Used Equipment Sales and Leasing: Engages in the sale and leasing of used transportation equipment.
AI Analysis | Feedback
Covenant Logistics (CVLG) primarily sells its services to other companies, not individuals. Based on the provided background information, its major customers fall into the following categories:
- Transportation companies: These include parcel freight forwarders, less-than-truckload (LTL) carriers, and third-party logistics (3PL) providers.
- Traditional truckload customers: This category encompasses manufacturers, retailers, and food and beverage shippers.
The background information describes the types of companies Covenant Logistics serves but does not list specific named customer companies or their public symbols.
AI Analysis | Feedback
nullAI Analysis | Feedback
Here is the management team of Covenant Logistics Group, Inc.: David R. Parker Founder and CEO David R. Parker is the founder and CEO of Covenant Logistics Group. He has been involved in the trucking industry since the age of 17, working full-time for his father's trucking company. In 1986, he founded Covenant Transport, which, through 39 years and several acquisitions, has grown into a $1 billion enterprise. Paul Bunn President Paul Bunn was appointed President & Chief Operating Officer of Covenant Logistics in January 2023. Prior to this, he served in various executive roles at Covenant, including Senior Executive Vice President and Chief Operating Officer, Executive Vice President and Chief Financial Officer and Secretary (from April 2020 to April 2021), Executive Vice President and Chief Administrative Officer, and Senior Vice President and Chief Accounting Officer and Treasurer. Before joining Covenant, Mr. Bunn was a Senior Manager for Ernst & Young, LLP. James S. Grant Executive Vice President and Chief Financial Officer, Principal Accounting Officer James S. Grant currently serves as the Executive Vice President, Chief Financial Officer, and Principal Accounting Officer for Covenant Logistics Group, Inc. He was designated as the principal accounting officer in August 2025. Dustin Koehl Chief Operating Officer Dustin Koehl joined Covenant Logistics as Chief Operating Officer in May 2024. He brings 17 years of experience in the logistics industry, having started his career at Total Transportation of Mississippi, where he led sales, customer service, and pricing, and founded the company's dedicated division. From 2019 to 2022, he was the SVP of Sales and then SVP of Operations at U.S. Xpress Enterprises. Before his role at Covenant, Mr. Koehl was the Head of Commercialization at Waabi, a leader in AI-driven self-driving truck technology. Stephen Grace Senior Vice President, Star Logistics Solutions Stephen Grace is the Senior Vice President of Star Logistics Solutions, the brokerage division formed through Covenant Logistics' acquisition of Lipsey Logistics in October 2025. He has overseen the transition and integration of Lipsey and Safer Logistics into the Star Logistics structure and now leads the operational and strategic direction of the organization. Mr. Grace spent over a decade at Lipsey Logistics, serving as Senior Vice President beginning in 2013, where he led all operations, asset-based services, and the company's sales group.AI Analysis | Feedback
The key risks to Covenant Logistics' business include the cyclicality of the freight market and rising operating costs, the increasing burden of regulatory compliance, and intense competition coupled with customer concentration.The **cyclicality of the freight market and rising operating costs** represent a primary risk to Covenant Logistics. The transportation and logistics sector is highly sensitive to economic fluctuations, which can lead to reduced freight demand, limited pricing power, and consequently, lower revenue and profitability. Compounding this, the company faces persistent inflationary pressures on key operating expenses. These include volatile fuel prices, which can significantly impact margins if fuel surcharge recovery is delayed. The perennial industry challenge of driver shortages and retention also drives up driver wages and recruitment costs. Additionally, elevated insurance premiums and significant casualty claim expenses have been noted as substantial headwinds, directly affecting the company's profitability. Rising costs for equipment and maintenance further contribute to margin compression. Covenant Logistics has experienced earnings misses and margin pressures due to these factors, leading to strategic adjustments like fleet reduction efforts.
A significant **regulatory burden and compliance** risk stems from the continuously evolving regulatory landscape. The transportation and logistics industry is subject to a growing number of regulations, including those related to environmental protection (such as emissions standards), cybersecurity, driver hours-of-service, and compliance for non-domiciled drivers and Electronic Logging Devices (ELDs). These regulations can lead to increased operational costs, necessitate substantial investments in new technologies or equipment, and introduce complexities that affect operational efficiency and capacity. Management has cited these regulatory crackdowns as major industry challenges.
Finally, **intense competition and customer concentration** pose another key risk. The transportation and logistics market is highly fragmented and competitive, with numerous players vying for business. This competitive environment can limit pricing power and impact profitability and growth opportunities. Furthermore, Covenant Logistics has a degree of customer concentration, with a single customer representing over 10% of its consolidated revenue and the top ten customers accounting for approximately 44% of total revenue in 2023. This reliance on a relatively small number of large customers makes the company vulnerable to a significant reduction in business if a major customer reduces its demand or is lost to a competitor.
AI Analysis | Feedback
```htmlThe clear emerging threat for Covenant Logistics is the proliferation and increasing sophistication of digital freight brokerage platforms and logistics technology solutions. Covenant Logistics operates a "Managed Freight" segment that provides brokerage services and transport management. New digital platforms (e.g., Uber Freight, Convoy, and advanced offerings from established players) leverage artificial intelligence, advanced algorithms, and mobile technology to connect shippers directly with carriers, optimize routes, provide real-time tracking, and offer dynamic pricing with greater transparency and efficiency. This technology-driven disruption threatens to disintermediate traditional brokerage services like those offered by Covenant Logistics, potentially compressing margins, reducing demand for conventional brokerage intermediaries, and capturing market share due to superior efficiency and scalability.
```AI Analysis | Feedback
Covenant Logistics Group, Inc. (CVLG) operates in several key segments within the transportation and logistics industry in the United States. The addressable markets for its main products and services are sized as follows:
- Expedited Services: The expedited freight services market in North America was estimated to be valued at approximately USD 58.3 billion in 2024 and is projected to reach USD 102.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031.
- Dedicated Services: The U.S. third-party logistics (3PL) market, which includes dedicated contract carriage, was estimated at USD 435.43 billion in 2022 and is projected to reach USD 1028.24 billion by 2032, registering a CAGR of 9.3% from 2023 to 2032.
-
Managed Freight:
- Brokerage Services: The U.S. freight brokerage market was valued at USD 19.01 billion in 2025 and is estimated to reach USD 20.64 billion in 2026. It is projected to grow to USD 39.93 billion by 2034, with a CAGR of 8.6% from 2026 to 2034.
- Transport Management Services: The Transportation Management System (TMS) market in North America held a dominant share in 2025, valuing at USD 7.32 billion.
- Warehousing: The U.S. warehousing market generated a revenue of USD 232.1 billion in 2024 and is expected to reach USD 343.2 billion by 2030, with a CAGR of 6.7% from 2025 to 2030.
AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for Covenant Logistics (CVLG)
Covenant Logistics Group (CVLG) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
- Strategic Acquisitions: The company plans to enhance its market position through strategic acquisitions, as exemplified by the recent acquisition of Star Logistics Solutions. This acquisition is expected to be accretive to earnings in the first half of 2026 and aims to bolster its Managed Freight segment.
- Expansion in Dedicated and Managed Freight Segments: Covenant Logistics is strategically focused on expanding its Dedicated and Managed Freight operations. This includes growing its dedicated fleet and securing new business awards within specialized, high-service niches across both segments.
- Favorable Freight Market Conditions: A positive market outlook, including potential GDP growth and rising spot rates, is expected to create a conducive environment for revenue growth across the company's transportation and logistics services.
- Optimization of Service Portfolio: The company is undertaking a strategic transition by evaluating and exiting unprofitable accounts within its Expedited and Dedicated fleets. This move is part of a broader strategy to shift towards less cyclical, higher-margin segments, aiming to produce operating leverage and a more robust, quality-driven revenue stream.
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Share Repurchases
- Covenant Logistics approved a $50 million stock repurchase program on April 23, 2025.
- In 2025, the company repurchased approximately 1.6 million shares of its Class A common stock for $36.2 million under the authorized program.
- Approximately $13.8 million remained available under the $50 million share repurchase authorization as of Q2 2025.
Share Issuance
- On March 6, 2026, Covenant Logistics Group registered a $200 million shelf for future offerings of various securities, including Class A common stock.
Outbound Investments
- The company's net indebtedness in 2025 increased primarily due to $46.3 million in acquisition-related payments.
- Covenant Logistics made a strategic acquisition of Star Logistics Solutions, announced around January 2026, aimed at enhancing its market position.
- The company holds a 49% equity method investment in Transport Enterprise Leasing (TEL), which contributed pre-tax net income of $4.3 million in Q2 2025.
Capital Expenditures
- Covenant Logistics expects net capital expenditures for 2026 to be between $40 million and $50 million, a significant reduction from 2025.
- Capital expenditures in Q4 2025 rose to $49.2 million, an increase of approximately 129% compared to the prior year.
- The focus of capital expenditures for 2026 is on reallocating capital to better returning operations and investing in areas that differentiate the company, particularly in high-value and high-service requirement freight.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.94 |
| Mkt Cap | 1.4 |
| Rev LTM | 2,266 |
| Op Inc LTM | 55 |
| FCF LTM | -38 |
| FCF 3Y Avg | -45 |
| CFO LTM | 182 |
| CFO 3Y Avg | 249 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.5% |
| Rev Chg 3Y Avg | -3.6% |
| Rev Chg Q | -1.3% |
| QoQ Delta Rev Chg LTM | -0.3% |
| Op Inc Chg LTM | -40.8% |
| Op Inc Chg 3Y Avg | -31.8% |
| Op Mgn LTM | 2.4% |
| Op Mgn 3Y Avg | 3.6% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 11.2% |
| CFO/Rev 3Y Avg | 11.3% |
| FCF/Rev LTM | -2.5% |
| FCF/Rev 3Y Avg | -2.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.4 |
| P/S | 0.8 |
| P/Op Inc | 31.9 |
| P/EBIT | 35.3 |
| P/E | 21.7 |
| P/CFO | 8.2 |
| Total Yield | 1.2% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | -3.6% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 21.1% |
| 3M Rtn | 13.1% |
| 6M Rtn | 32.7% |
| 12M Rtn | 37.2% |
| 3Y Rtn | -1.2% |
| 1M Excs Rtn | 14.5% |
| 3M Excs Rtn | 8.2% |
| 6M Excs Rtn | 30.9% |
| 12M Excs Rtn | 6.3% |
| 3Y Excs Rtn | -73.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Expedited | 416 | 424 | 458 | 344 | 320 |
| Dedicated | 364 | 320 | 363 | 325 | 289 |
| Managed Freight | 249 | 259 | 321 | 321 | 178 |
| Warehousing | 102 | 101 | 80 | 63 | 52 |
| Other revenues | 0 | ||||
| Elimination of intersegment revenues | -6 | -7 | |||
| Total | 1,131 | 1,104 | 1,217 | 1,046 | 839 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Expedited | 46 | 45 | 61 | 33 | -7 |
| Dedicated | 33 | 26 | 21 | -1 | -16 |
| Managed Freight | 13 | 10 | 37 | 32 | 4 |
| Warehousing | 10 | 6 | 2 | 3 | 4 |
| Other | -58 | -29 | |||
| Total | 45 | 59 | 121 | 67 | -14 |
Price Behavior
| Market Price | $30.49 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $27.82 | $24.04 |
| DMA Trend | up | up |
| Distance from DMA | 9.6% | 26.8% |
| 3M | 1YR | |
| Volatility | 44.9% | 39.5% |
| Downside Capture | 0.28 | 0.65 |
| Upside Capture | 217.11 | 160.15 |
| Correlation (SPY) | 40.4% | 49.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.84 | 1.54 | 1.58 | 1.37 | 1.30 | 1.18 |
| Up Beta | 1.59 | -0.43 | 0.94 | 1.11 | 1.15 | 1.18 |
| Down Beta | 0.82 | 1.45 | 1.46 | 1.61 | 1.20 | 1.08 |
| Up Capture | 294% | 291% | 307% | 196% | 207% | 180% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 13 | 27 | 39 | 70 | 124 | 374 |
| Down Capture | 185% | 125% | 96% | 99% | 130% | 106% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 9 | 15 | 23 | 54 | 121 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVLG | |
|---|---|---|---|---|
| CVLG | 62.6% | 40.0% | 1.30 | - |
| Sector ETF (XLI) | 39.0% | 15.4% | 1.93 | 58.1% |
| Equity (SPY) | 21.1% | 12.9% | 1.32 | 51.8% |
| Gold (GLD) | 50.9% | 27.5% | 1.49 | -1.9% |
| Commodities (DBC) | 25.2% | 16.2% | 1.40 | -3.9% |
| Real Estate (VNQ) | 17.5% | 13.7% | 0.93 | 36.4% |
| Bitcoin (BTCUSD) | -7.8% | 42.6% | -0.08 | 14.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVLG | |
|---|---|---|---|---|
| CVLG | 25.7% | 42.7% | 0.67 | - |
| Sector ETF (XLI) | 13.1% | 17.3% | 0.60 | 49.2% |
| Equity (SPY) | 10.8% | 17.1% | 0.49 | 42.7% |
| Gold (GLD) | 22.6% | 17.8% | 1.04 | 0.6% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 7.4% |
| Real Estate (VNQ) | 4.4% | 18.8% | 0.14 | 31.6% |
| Bitcoin (BTCUSD) | 5.2% | 56.5% | 0.31 | 17.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVLG | |
|---|---|---|---|---|
| CVLG | 10.7% | 47.6% | 0.40 | - |
| Sector ETF (XLI) | 14.2% | 19.9% | 0.63 | 48.8% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 42.7% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | -2.1% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 14.3% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 33.2% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 10.2% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/29/2026 | -4.8% | 11.5% | 14.9% |
| 10/23/2025 | 0.4% | -0.8% | -4.3% |
| 7/23/2025 | 3.7% | 0.3% | -2.3% |
| 4/23/2025 | 10.4% | 5.9% | 19.5% |
| 1/23/2025 | -2.9% | -2.2% | -15.3% |
| 10/23/2024 | -0.3% | -0.4% | 10.5% |
| 7/24/2024 | 8.3% | 10.2% | 2.4% |
| 4/24/2024 | 1.2% | 1.9% | 5.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 15 | 19 |
| # Negative | 9 | 9 | 5 |
| Median Positive | 9.4% | 11.5% | 10.5% |
| Median Negative | -4.8% | -2.3% | -9.1% |
| Max Positive | 18.1% | 44.9% | 58.1% |
| Max Negative | -21.9% | -16.6% | -16.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Capital Equipment Expenditures | 40.00 Mil | 45.00 Mil | 50.00 Mil | 157.1% | Higher New | Guidance: 17.50 Mil for Q4 2025 | |
| 2026 Average Age of Equipment | 24 | 25 | 26 | ||||
Prior: Q3 2025 Earnings Reported 10/23/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Net Capital Equipment Expenditures | 15.00 Mil | 17.50 Mil | 20.00 Mil | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kramer, D Michael | Direct | Sell | 5232025 | 22.80 | 2,200 | 50,163 | 564,015 | Form | |
| 2 | Parker, David Ray | Chairman and CEO | Direct | Sell | 2112026 | 28.66 | 56,000 | 1,604,742 | 8,398,358 | Form |
| 3 | Parker, David Ray | Chairman and CEO | Direct | Sell | 2112026 | 29.05 | 70,000 | 2,033,480 | 6,619,616 | Form |
| 4 | Parker, David Ray | Chairman and CEO | Direct | Sell | 2112026 | 29.34 | 27,400 | 804,028 | 68,458,097 | Form |
| 5 | Parker, David Ray | Chairman and CEO | Direct | Sell | 2202026 | 29.34 | 65,000 | 1,907,028 | 62,578,231 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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