Hub (HUBG)
Market Price (10/1/2026): $30.14 | Market Cap: $1.8 BilSector: Industrials | Industry: Air Freight & Logistics
Hub (HUBG)
Market Price (10/1/2026): $30.14Market Cap: $1.8 BilSector: IndustrialsIndustry: Air Freight & Logistics
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 6.4% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Future of Freight, E-commerce & DTC Adoption, and E-commerce & Digital Retail. Themes include Freight Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -101% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%, Rev Chg QQuarterly Revenue Change % is -5.3% Key risksHUBG key risks include [1] a significant customer concentration, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 6.4% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Future of Freight, E-commerce & DTC Adoption, and E-commerce & Digital Retail. Themes include Freight Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -101% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%, Rev Chg QQuarterly Revenue Change % is -5.3% |
| Key risksHUBG key risks include [1] a significant customer concentration, Show more. |
Qualitative Assessment
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Hub (HUBG) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Ongoing accounting restatement and a Nasdaq delisting threat severely impacted investor confidence.
Hub Group announced in February 2026 that it would restate financial statements for fiscal Q1, Q2, and Q3 2025 due to an understatement of purchased transportation costs and accounts payable. This ongoing process prevented the timely filing of its 2025 annual report and 2026 quarterly reports, leading to a Nasdaq Staff Delisting Determination notice in September 2026. The company secured an amendment to its credit agreement, extending filing deadlines to November 30, 2026, and allowing restatement costs to be added back to EBITDA for covenant calculations through 2026, but the regulatory uncertainty and headline risk have weighed heavily on the stock.
2. Hub Group anticipated an operating loss for the first half of fiscal year 2026 due to increased costs and excess capacity.
For the first half of 2026 (ended June 30, 2026), Hub Group reported preliminary unaudited consolidated operating revenue between $1.70 billion and $1.80 billion, but anticipated an operating loss before one-time charges. This expected loss stemmed from higher fuel, rail, and drayage costs negatively affecting its Intermodal and Transportation Solutions segment, coupled with excess capacity and customer attrition in its Logistics segment's Consolidation and Fulfillment operations. Additional costs associated with the accounting review and restatement also contributed to the anticipated operating loss.
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Hub (HUBG) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Ongoing accounting restatement and a Nasdaq delisting threat severely impacted investor confidence.
Hub Group announced in February 2026 that it would restate financial statements for fiscal Q1, Q2, and Q3 2025 due to an understatement of purchased transportation costs and accounts payable. This ongoing process prevented the timely filing of its 2025 annual report and 2026 quarterly reports, leading to a Nasdaq Staff Delisting Determination notice in September 2026. The company secured an amendment to its credit agreement, extending filing deadlines to November 30, 2026, and allowing restatement costs to be added back to EBITDA for covenant calculations through 2026, but the regulatory uncertainty and headline risk have weighed heavily on the stock.
2. Hub Group anticipated an operating loss for the first half of fiscal year 2026 due to increased costs and excess capacity.
For the first half of 2026 (ended June 30, 2026), Hub Group reported preliminary unaudited consolidated operating revenue between $1.70 billion and $1.80 billion, but anticipated an operating loss before one-time charges. This expected loss stemmed from higher fuel, rail, and drayage costs negatively affecting its Intermodal and Transportation Solutions segment, coupled with excess capacity and customer attrition in its Logistics segment's Consolidation and Fulfillment operations. Additional costs associated with the accounting review and restatement also contributed to the anticipated operating loss.
3. Multiple analyst downgrades and significant price target reductions reflected a cautious outlook.
During the period, several financial analysts lowered their price targets for Hub Group. Raymond James Financial reduced its target from $48.00 to $40.00 in September 2026, while Wells Fargo & Company set a $35.00 target, and Barclays significantly lowered its target from $48.00 to $30.00. The consensus analyst rating for HUBG remained "Hold," with an average 12-month target price around $42.69, which contrasts sharply with the stock trading near its 52-week low of $29.71-$30.34 by late September 2026. Wall Street Zen and Weiss Ratings also downgraded the stock from "hold" to "sell" or a lower "hold" rating in September.
4. Weak freight market conditions pressured revenue and margins across key segments.
Hub Group faced challenging macroeconomic conditions characterized by weak freight market dynamics that impacted its financial performance. The Intermodal and Transportation Solutions (ITS) segment experienced higher fuel, rail, and drayage costs in the first half of 2026, before planned rate increases in fiscal Q3 2026, thereby pressuring operating results despite stable volume trends. The Logistics segment also saw modest revenue declines in Managed Transportation due to lower customer activity and reduced Brokerage revenue as the company prioritized profitability, with excess capacity in Consolidation and Fulfillment further impacting results. These industry headwinds contributed to the overall decline in stock value.
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Stock Movement Drivers
Fundamental Drivers
The -32.2% change in HUBG stock from 6/30/2026 to 9/30/2026 was primarily driven by a -32.2% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.62 | 29.58 | -32.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,729 | 3,729 | 0.0% |
| Net Income Margin (%) | 2.8% | 2.8% | 0.0% |
| P/E Multiple | 24.9 | 16.9 | -32.2% |
| Shares Outstanding (Mil) | 60 | 60 | 0.0% |
| Cumulative Contribution | -32.2% |
Market Drivers
6/30/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| HUBG | -32.2% | |
| Market (SPY) | 2.1% | 16.4% |
| Sector (XLI) | -9.9% | 4.6% |
Fundamental Drivers
The -17.4% change in HUBG stock from 3/31/2026 to 9/30/2026 was primarily driven by a -17.4% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.80 | 29.58 | -17.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,729 | 3,729 | 0.0% |
| Net Income Margin (%) | 2.8% | 2.8% | 0.0% |
| P/E Multiple | 20.5 | 16.9 | -17.4% |
| Shares Outstanding (Mil) | 60 | 60 | 0.0% |
| Cumulative Contribution | -17.4% |
Market Drivers
3/31/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| HUBG | -17.4% | |
| Market (SPY) | 17.6% | 27.2% |
| Sector (XLI) | 3.5% | 22.5% |
Fundamental Drivers
The -12.9% change in HUBG stock from 9/30/2025 to 9/30/2026 was primarily driven by a -17.0% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.98 | 29.58 | -12.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,781 | 3,729 | -1.4% |
| Net Income Margin (%) | 2.6% | 2.8% | 6.4% |
| P/E Multiple | 20.4 | 16.9 | -17.0% |
| Shares Outstanding (Mil) | 60 | 60 | 0.0% |
| Cumulative Contribution | -12.9% |
Market Drivers
9/30/2025 to 9/30/2026| Return | Correlation | |
|---|---|---|
| HUBG | -12.9% | |
| Market (SPY) | 15.4% | 24.6% |
| Sector (XLI) | 9.2% | 24.5% |
Fundamental Drivers
The -22.0% change in HUBG stock from 9/30/2023 to 9/30/2026 was primarily driven by a -50.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302023 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.92 | 29.58 | -22.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,834 | 3,729 | -22.9% |
| Net Income Margin (%) | 5.7% | 2.8% | -50.5% |
| P/E Multiple | 8.8 | 16.9 | 91.2% |
| Shares Outstanding (Mil) | 64 | 60 | 6.8% |
| Cumulative Contribution | -22.0% |
Market Drivers
9/30/2023 to 9/30/2026| Return | Correlation | |
|---|---|---|
| HUBG | -22.0% | |
| Market (SPY) | 84.5% | 41.5% |
| Sector (XLI) | 71.3% | 47.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HUBG Return | 48% | -6% | 16% | -2% | -3% | -28% | 10% |
| Peers Return | 31% | -16% | 39% | 14% | 14% | 18% | 134% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| HUBG Win Rate | 58% | 50% | 58% | 50% | 58% | 44% | |
| Peers Win Rate | 63% | 40% | 55% | 48% | 63% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| HUBG Max Drawdown | -16% | -29% | -31% | -19% | -32% | -42% | |
| Peers Max Drawdown | -17% | -31% | -27% | -23% | -32% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JBHT, SNDR, CHRW, XPO, KNX.
[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 9/30/2026 (YTD)
How Low Can It Go
| Event | HUBG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.0% | -18.8% |
| % Gain to Breakeven | 37.0% | 23.1% |
| Time to Breakeven | 218 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.6% | -9.5% |
| % Gain to Breakeven | 24.4% | 10.5% |
| Time to Breakeven | 43 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -24.9% | -6.7% |
| % Gain to Breakeven | 33.2% | 7.1% |
| Time to Breakeven | 540 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.4% | -24.5% |
| % Gain to Breakeven | 35.9% | 32.4% |
| Time to Breakeven | 121 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.9% | -33.7% |
| % Gain to Breakeven | 48.9% | 50.9% |
| Time to Breakeven | 253 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.6% | -19.2% |
| % Gain to Breakeven | 29.2% | 23.8% |
| Time to Breakeven | 37 days | 105 days |
In The Past
Hub's stock fell -27.0% during the 2025 US Tariff Shock. Such a loss loss requires a 37.0% gain to breakeven.
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Asset Allocation
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| Event | HUBG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.0% | -18.8% |
| % Gain to Breakeven | 37.0% | 23.1% |
| Time to Breakeven | 218 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -24.9% | -6.7% |
| % Gain to Breakeven | 33.2% | 7.1% |
| Time to Breakeven | 540 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.4% | -24.5% |
| % Gain to Breakeven | 35.9% | 32.4% |
| Time to Breakeven | 121 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.9% | -33.7% |
| % Gain to Breakeven | 48.9% | 50.9% |
| Time to Breakeven | 253 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.6% | -19.2% |
| % Gain to Breakeven | 29.2% | 23.8% |
| Time to Breakeven | 37 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.9% | -12.2% |
| % Gain to Breakeven | 44.6% | 13.9% |
| Time to Breakeven | 197 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -34.4% | -6.8% |
| % Gain to Breakeven | 52.3% | 7.3% |
| Time to Breakeven | 309 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.1% | -17.9% |
| % Gain to Breakeven | 45.1% | 21.8% |
| Time to Breakeven | 519 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -43.7% | -53.4% |
| % Gain to Breakeven | 77.6% | 114.4% |
| Time to Breakeven | 317 days | 1085 days |
In The Past
Hub's stock fell -27.0% during the 2025 US Tariff Shock. Such a loss loss requires a 37.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hub (HUBG)
Hub Group, Inc. (HUBG) is a North American supply chain solutions provider that offers a comprehensive range of transportation and logistics management services. The company's core business revolves around moving goods through various modes, including intermodal (combining rail and truck), full truckload, less-than-truckload (LTL), flatbed, and temperature-controlled transport. Additionally, it provides dedicated and regional trucking, final mile delivery, railcar services, small parcel, and international transportation.
Beyond its diverse transportation offerings, Hub Group provides extensive logistics services designed to streamline customer operations. These include full outsource logistics solutions, transportation management, freight consolidation, warehousing and fulfillment, and specialized parcel services. The company also operates a significant asset base, boasting a fleet of approximately 1,000 tractors and 4,600 trailers, along with tens of thousands of owned and leased containers, supported by its own driver staffing and infrastructure.
Hub Group primarily serves a broad array of industries across North America, with a particular focus on sectors such as retail, consumer products, and durable goods. Through its integrated services and substantial operational capabilities, Hub Group aims to help these businesses manage their complex supply chains efficiently and effectively.
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A C.H. Robinson that also owns and operates a large fleet of its own trucks and shipping containers.
Like the comprehensive freight and logistics arm of FedEx or UPS, but as an independent, standalone company for businesses.
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- Intermodal Transportation: Moving freight using multiple modes of transport, typically rail and truck, without handling the freight itself during mode changes.
- Truckload (TL) Services: Shipping services for large volumes of freight that occupy an entire truck trailer.
- Less-than-Truckload (LTL) Services: Shipping services for smaller freight volumes that do not require an entire truck trailer and are consolidated with other shipments.
- Specialized Trucking: Includes flatbed, temperature-controlled, dedicated, and regional trucking services for specific cargo types and delivery needs.
- Final Mile Delivery: The last leg of a shipment's journey, delivering goods from a transportation hub directly to the end customer.
- International & Parcel Transportation: Services for moving goods across national borders and handling small, individual packages.
- Truck Brokerage Services: Arranging transportation for shippers by utilizing a network of third-party carriers for various truck types.
- Full Outsource Logistics Solutions: Comprehensive management of a customer's entire supply chain operations, including planning and execution.
- Transportation Management: Planning, optimizing, and executing the movement of goods across various transportation modes.
- Freight Consolidation: Combining multiple smaller shipments into a larger, more cost-effective load.
- Warehousing and Fulfillment: Storage of goods and handling the processing and delivery of customer orders.
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Hub Group, Inc. (HUBG) primarily sells its transportation and logistics management services to other companies (Business-to-Business).
Based on the provided information, Hub Group serves a range of industries. While specific major customer names are not disclosed, the company's customer base includes companies operating in the following sectors:
- Retail
- Consumer Products
- Durable Goods
The provided background information does not list the names of specific customer companies or their public symbols.
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Phillip D. Yeager
President, Chief Executive Officer, and Vice Chairman of the Board
Phillip D. Yeager is the President, Chief Executive Officer, and Vice Chairman of the Board at Hub Group. He joined the company in 2011, initially as the Director of Strategy and Acquisitions. He progressed through various roles, including Vice President of Account Management and Business Development in 2014 and Executive Vice President of Account Management and Intermodal Operations in 2016. Before his tenure at Hub Group, Mr. Yeager served as Assistant Vice President of Commercial Banking at BMO Harris Bank and as an investment banking analyst for Lazard Frères & Co. He played a role in the integration of Mode Transportation following its acquisition by Hub Group. He succeeded his father, David P. Yeager, as President and Chief Executive Officer effective January 1, 2023. Phillip is the grandson of Hub Group's founder, Phillip C. Yeager.
Kevin Beth
Executive Vice President, Chief Financial Officer and Treasurer
Kevin Beth was appointed Executive Vice President, Chief Financial Officer, and Treasurer of Hub Group in 2024. In this capacity, he is responsible for the company's financial activities, acquisitions, investor relations, and banking relationships. Prior to this role, he served as Executive Vice President and Chief Accounting Officer since 2020, where he was instrumental in transforming Hub Group's financial systems and leading the accounting organization through various integrations. Mr. Beth joined Hub Group in 2003 as Corporate Controller and became Assistant Treasurer in 2007. Earlier in his career, he worked as an Auditor at Arthur Andersen from 1997 to 2001 and as a Senior Accountant at Playboy Enterprises, Inc. in 2002. He is a Certified Public Accountant.
David P. Yeager
Executive Chairman of the Board
David P. Yeager serves as the Executive Chairman of the Board for Hub Group. He is the son of the company's founder, Phillip C. Yeager, and joined Hub Group in 1975. Mr. Yeager held the position of Chief Executive Officer for 26 years, from March 1995 until his retirement from the CEO role on January 1, 2023, when he transitioned to Executive Chairman. During his extensive career, he oversaw the transformation of Hub Group from an intermodal marketing company into a comprehensive supply chain solutions provider. He founded Hub Group Pittsburgh LLC in 1975 and Hub Group St. Louis LLC in 1980.
Brian Meents
Executive Vice President, Chief Operating Officer
Brian Meents was appointed as Hub Group's Executive Vice President and Chief Operating Officer as of November 25, 2024. He has been with Hub Group since 2009, gaining experience across various areas including operational, account management, pricing, sales, and marketing roles. Before assuming the COO position, Mr. Meents served as President of Intermodal & Transportation Solutions and Chief Marketing Officer.
Dhruv Bansal
Executive Vice President, Chief Information Officer
Dhruv Bansal holds the title of Executive Vice President, Chief Information Officer at Hub Group. He has served in this capacity since February 28, 2022.
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Key Risks to Hub Group (HUBG)
1. Accounting Error and Internal Control Failures: Hub Group recently disclosed a material accounting error that resulted in the understatement of purchased transportation costs and accounts payable for the first nine months of 2025. This error has led to a restatement of its financial statements for those periods, an admission that its disclosure controls and internal control over financial reporting were not effective, and a significant decline in its stock price. The company is also assessing potential impacts on its consolidated financial statements for 2023 and 2024. These issues have triggered legal investigations and raised concerns about the reliability of its financial reporting and overall corporate governance.
2. Economic Slowdown, Weak Freight Market, and Customer Concentration: The transportation and logistics industry is highly susceptible to economic cycles. An economic slowdown or a weak freight market, characterized by reduced consumer spending and potential instability in trade policies, can directly decrease the demand for Hub Group's services, thereby impacting its revenue and profitability. Furthermore, Hub Group relies significantly on a limited number of major customers. Its top 50 customers account for approximately 66% of its revenue, with one customer representing more than 10% of its quarterly revenue in both segments. This customer concentration poses a risk, as a reduction in business from these key clients could lead to revenue volatility.
3. Fuel Price Volatility and Intense Competition: Fluctuations in fuel prices, particularly diesel, represent a substantial operational cost for Hub Group's transportation services. Significant increases or volatility in fuel costs, if not effectively managed or passed on to customers, can compress profit margins. Additionally, the logistics and transportation sector is intensely competitive, with numerous providers offering similar services. This competitive environment can lead to pricing pressures, potentially impacting Hub Group's margins and market share.
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The increasing vertical integration of supply chain and logistics functions by large retail and e-commerce companies poses an emerging threat. These companies, traditionally clients of Hub Group, are significantly expanding their in-house transportation networks, warehousing facilities, and final-mile delivery capabilities, thereby reducing their reliance on third-party logistics providers like Hub Group and effectively becoming self-sufficient or even competitors for logistics services.
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Hub Group, Inc. (HUBG) operates within several significant addressable markets across North America for its diverse transportation and logistics management services.
Addressable Markets: North America
- Intermodal Transportation: The North America intermodal freight transportation market generated an estimated revenue of approximately USD 15.28 billion in 2023. This market is projected to grow to about USD 31.59 billion by 2030.
- Road Freight Transportation (Overall Truckload): The North America road freight transport market size is expected to increase from approximately USD 660.24 billion in 2025 to USD 839.77 billion by 2031.
- Less-Than-Truckload (LTL) Services: The North America less-than-truckload (LTL) market generated a revenue of approximately USD 84.63 billion in 2024. This market is projected to reach about USD 120.55 billion by 2030.
- On-Demand Trucking: The North America on-demand trucking market generated a revenue of approximately USD 43.03 billion in 2023. It is expected to reach a projected revenue of approximately USD 136.78 billion by 2030.
- Third-Party Logistics (3PL) Services: The North America third-party logistics market was valued at approximately USD 315.07 billion in 2022 and is expected to reach about USD 497.56 billion by 2030.
- Warehousing and Storage: The North America warehousing and storage market was valued at approximately USD 90.70 billion in 2025. It is projected to reach about USD 114.37 billion by 2034.
- Final Mile Delivery: The North America Last Mile Delivery Market is projected to grow from approximately USD 32.98 billion in 2023 to an estimated USD 61.21 billion by 2032.
- Freight Brokerage Services: The North America freight brokerage services market size is estimated at approximately USD 22.77 billion in 2025, and is expected to reach about USD 32.79 billion by 2030.
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- Expansion of Temperature-Controlled Intermodal Services: Hub Group has significantly expanded its temperature-controlled intermodal fleet through strategic acquisitions. Notably, the acquisition of Marten Transport's intermodal division in July 2025 more than doubled Hub Group's refrigerated container fleet, positioning it as a leading provider in this segment. This expansion is anticipated to bolster relationships with food and beverage shippers and contribute to increased revenue.
- Growth in Cross-Border Operations with a Focus on Mexico: The company is strengthening its cross-border capabilities, particularly with Mexico. A joint venture with EASO, established in October 2024, aims to expand intermodal and drayage services in Mexico. This initiative is designed to capitalize on increasing trade volumes and nearshoring trends, which have already shown a significant rise in Hub Group's Mexico volumes.
- Strategic Acquisitions and Diversification of Logistics Services: Hub Group continues to pursue strategic acquisitions to grow its logistics segment and diversify its service offerings. Recent examples include the acquisition of SITH, LLC in September 2025 to enhance its Final Mile service. The company's management has emphasized a focus on developing its logistics segment through acquisitions, including value-added services, to create growth opportunities.
- Overall Intermodal Volume Growth: Despite recent market fluctuations, Hub Group anticipates intermodal volume growth to be a significant driver for its Intermodal and Transportation Solutions (ITS) segment. The company maintains a large fleet of 53-foot containers and leverages its relationships with Class I railroads across North America to provide efficient intermodal solutions.
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Capital Allocation Decisions of Hub Group, Inc. (HUBG)
Share Repurchases
- Hub Group returned $14 million to shareholders through stock repurchases for the full year 2025.
- In the first quarter of 2025, $14 million was returned through stock repurchases.
- As of February 5, 2026, the company had $142 million remaining under its share repurchase authorization.
Outbound Investments
- In July 2025, Hub Group acquired Marten Transport's intermodal division for $51.8 million, which included approximately 1,200 refrigerated containers. This acquisition was completed on September 30, 2025.
- Hub Group acquired ForwardAir, a provider of expedited ground transportation and freight services, in December 2023.
- The company entered into a joint venture with Mexico City-based EASO in October 2024 to enhance intermodal and drayage capabilities in Mexico.
Capital Expenditures
- Capital expenditures for the full year 2025 totaled approximately $45 million, driven by lower tractor fleet spending.
- Expected capital expenditures for the full year 2026 are projected to be between $35 million and $45 million.
- Capital expenditures in Q1 2025 were $19 million, primarily focused on tractor replacements and technology, while Q2 2025 saw $11 million in capital expenditures, balanced between tractor replacement and technology investments.
Peer Outperformance in Air Freight & Logistics
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 4.5% | 117.0% | 185.9% | CDNL 2254% · FIX 2179% · STRL 2051% |
| Marine Transportation | 5 | 89.4% | 58.5% | 169.1% | HOS 40374% · MATX 183% · KEX 169% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 0.9% | 44.2% | 102.4% | CAT 355% · ALSN 240% · WAB 234% |
| Aerospace & Defense | 54 | -13.8% | 59.4% | 65.0% | ATI 994% · FTAI 819% · HWM 608% |
| Rail Transportation | 7 | 17.6% | 57.7% | 47.7% | FSTR 133% · CSX 64% · UNP 51% |
| Industrial Machinery & Supplies & Components | 73 | 9.0% | 42.2% | 45.2% | CRS 1103% · PSIX 1094% · EROC 605% |
| Trading Companies & Distributors | 19 | 2.4% | 34.2% | 42.4% | DXPE 489% · AIT 278% · WCC 210% |
| Diversified Support Services | 33 | 9.6% | 27.3% | 33.3% | LIME 3176% · TH 399% · WLFC 303% |
| Cargo Ground Transportation | 16 | 36.1% | 1.6% | 29.8% | XPO 258% · R 209% · CVLG 145% |
| Electrical Components & Equipment | 40 | 4.0% | 60.0% | 24.4% | POWL 2304% · BE 1400% · VRT 888% |
| Building Products | 33 | -15.9% | 0.6% | 17.7% | LMB 637% · GFF 346% · PPIH 297% |
| Industrial Conglomerates | 17 | 7.7% | 3.0% | -2.0% | RCMT 541% · CSW 125% · DD 72% |
| Passenger Ground Transportation | 3 | -31.8% | 42.4% | -7.9% | UBER 46% · CAR -8% · LYFT -73% |
| Environmental & Facilities Services | 30 | -15.3% | 17.2% | -8.5% | CECO 859% · ADUR 447% · GEO 311% |
| Agricultural & Farm Machinery | 17 | 12.8% | -1.5% | -11.9% | BLBD 160% · DE 109% · GENC 53% |
| Research & Consulting Services | 14 | -16.8% | -24.6% | -26.1% | HURN 199% · CRAI 72% · GRNQ 17% |
| Data Processing & Outsourced Services | 6 | -35.7% | -15.3% | -29.7% | EXLS 36% · BR 6% · G -27% |
| Office Services & Supplies | 9 | 14.7% | 16.9% | -36.0% | PBI 164% · TILE 125% · HNI 41% |
| Passenger Airlines | 11 | 14.3% | 13.9% | -37.8% | LTM 2978% · UAL 116% · DAL 91% |
| Human Resource & Employment Services | 22 | -1.1% | -17.8% | -38.0% | BBSI 61% · ADP 43% · HQI 7% |
| Air Freight & Logistics ← | 12 | -32.1% | -24.2% | -39.3% | CHRW 93% · FDX 77% · EXPD 68% |
| Security & Alarm Services | 10 | -25.6% | 19.5% | -40.3% | CIX 155% · MG 104% · BCO 66% |
| Airport Services | 3 | -71.9% | -78.6% | -69.4% | JOBY -40% · ASLE -69% · UP -100% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Hub Stock Slides 22% With A 11-Day Losing Spree | 03/19/2026 | |
| Hub Stock In Shambles: Down 21% With 10-Day Losing Streak | 03/18/2026 | |
| Hub Stock In Shambles: Down 20% With 9-Day Losing Streak | 03/17/2026 | |
| Hub Stock In Shambles: Down 21% With 9-Day Losing Streak | 03/17/2026 | |
| Hub Earnings Notes | 12/29/2026 | |
| Is Hub Stock Built to Withstand a Pullback? | 10/17/2025 | |
| Hub vs T-Mobile US: Which Is A Better Investment? | 08/18/2025 | |
| ARTICLES | ||
| Hub Stock Plummets -22% With 11-Day Losing Streak | 03/19/2026 | |
| Hub Stock In Shambles: Down -21% With 10-Day Losing Streak | 03/18/2026 | |
| Hub Stock Plummets -21% With 9-Day Losing Streak | 03/17/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 109.27 |
| Mkt Cap | 14.4 |
| Rev LTM | 8,151 |
| Op Inc LTM | 566 |
| FCF LTM | 567 |
| FCF 3Y Avg | 165 |
| CFO LTM | 887 |
| CFO 3Y Avg | 789 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.7% |
| Rev Chg 3Y Avg | -1.7% |
| Rev Chg Q | 12.9% |
| QoQ Delta Rev Chg LTM | 3.2% |
| Op Inc Chg LTM | 7.5% |
| Op Inc Chg 3Y Avg | -5.1% |
| Op Mgn LTM | 4.4% |
| Op Mgn 3Y Avg | 4.3% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 11.7% |
| CFO/Rev 3Y Avg | 11.5% |
| FCF/Rev LTM | 5.2% |
| FCF/Rev 3Y Avg | 2.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 14.4 |
| P/S | 1.2 |
| P/Op Inc | 23.7 |
| P/EBIT | 25.1 |
| P/E | 41.3 |
| P/CFO | 12.4 |
| Total Yield | 3.6% |
| Dividend Yield | 1.2% |
| FCF Yield 3Y Avg | 2.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Intermodal and Transportation Solutions (ITS) | 2,243 | 2,496 | 3,312 | 2,656 | |
| Logistics | 1,829 | 1,821 | 2,122 | 887 | 767 |
| Inter-segment eliminations | -126 | -114 | -94 | ||
| Truck brokerage | 689 | 431 | |||
| Dedicated | 268 | ||||
| Intermodal | 2,029 | ||||
| Total | 3,946 | 4,203 | 5,340 | 4,232 | 3,496 |
| $ Mil | 2024 | 2023 | 2022 | 2015 | 2014 |
|---|---|---|---|---|---|
| Logistics | 83 | 105 | 126 | ||
| Intermodal and Transportation Solutions (ITS) | 57 | 107 | 349 | ||
| Inter-segment eliminations | 0 | 0 | |||
| Hub | 90 | 60 | |||
| Mode | 27 | 24 | |||
| Total | 140 | 212 | 475 | 117 | 84 |
| $ Mil | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|
| Hub | 1,127 | 1,031 | 888 | 760 |
| Mode | 182 | 190 | 164 | 164 |
| Inter-segment Elims | -7 | -8 | -4 | -4 |
| Total | 1,301 | 1,212 | 1,048 | 920 |
Price Behavior
| Market Price | $29.58 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 03/13/1996 | |
| Distance from 52W High | -43.1% | |
| 50 Days | 200 Days | |
| DMA Price | $39.27 | $41.63 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -24.7% | -29.0% |
| 3M | 1YR | |
| Volatility | 55.3% | 47.2% |
| Downside Capture | 327.39 | 152.50 |
| Upside Capture | 65.34 | 110.94 |
| Correlation (SPY) | 15.9% | 24.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.77 | 1.67 | 0.82 | 1.09 | 0.89 | 1.02 |
| Up Beta | 0.85 | -0.46 | -0.37 | 0.38 | -0.16 | 0.91 |
| Down Beta | 1.25 | -1.05 | -0.90 | -0.26 | 0.82 | 0.86 |
| Up Capture | -65% | 111% | 63% | 133% | 116% | 96% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 9 | 18 | 29 | 64 | 130 | 371 |
| Down Capture | 356% | 470% | 265% | 205% | 130% | 107% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 24 | 35 | 62 | 120 | 377 |
[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 HUBG | |
|---|---|---|---|---|
| HUBG | -13.3% | 47.1% | -0.15 | - |
| Sector ETF (XLI) | 10.1% | 17.3% | 0.39 | 24.4% |
| Equity (SPY) | 15.9% | 13.0% | 0.87 | 24.6% |
| Gold (GLD) | 8.1% | 29.6% | 0.26 | 7.9% |
| Commodities (DBC) | 43.1% | 20.8% | 1.61 | -15.9% |
| Real Estate (VNQ) | 2.2% | 13.6% | -0.09 | 23.4% |
| Bitcoin (BTCUSD) | -27.1% | 44.5% | -0.58 | -4.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HUBG | |
|---|---|---|---|---|
| HUBG | -2.4% | 35.6% | 0.00 | - |
| Sector ETF (XLI) | 12.6% | 17.6% | 0.55 | 53.7% |
| Equity (SPY) | 13.2% | 17.2% | 0.59 | 47.5% |
| Gold (GLD) | 18.2% | 18.9% | 0.78 | 2.1% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 5.9% |
| Real Estate (VNQ) | 0.5% | 18.9% | -0.08 | 41.4% |
| Bitcoin (BTCUSD) | 13.9% | 52.3% | 0.44 | 13.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HUBG | |
|---|---|---|---|---|
| HUBG | 4.2% | 35.5% | 0.22 | - |
| Sector ETF (XLI) | 13.2% | 20.0% | 0.58 | 52.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 47.6% |
| Gold (GLD) | 11.8% | 16.4% | 0.58 | -0.8% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 13.9% |
| Real Estate (VNQ) | 4.5% | 20.7% | 0.18 | 38.1% |
| Bitcoin (BTCUSD) | 63.6% | 66.2% | 1.03 | 8.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/15/2026 | -5.1% | -9.8% | |
| 2/5/2026 | -18.3% | -22.1% | -24.0% |
| 10/30/2025 | 3.9% | -1.9% | 12.4% |
| 7/31/2025 | -4.1% | -0.9% | 6.9% |
| 5/8/2025 | 0.3% | 7.9% | 2.1% |
| 2/6/2025 | -4.2% | -1.7% | -11.1% |
| 10/30/2024 | -0.8% | 12.5% | 18.0% |
| 8/1/2024 | -7.9% | -6.0% | 2.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 12 | 16 |
| # Negative | 12 | 11 | 6 |
| Median Positive | 2.8% | 5.4% | 7.2% |
| Median Negative | -4.0% | -4.6% | -7.7% |
| Max Positive | 6.1% | 14.4% | 18.0% |
| Max Negative | -18.3% | -22.1% | -24.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/15/2026 | -5.1% | -9.8% | |
| 2/5/2026 | -18.3% | -22.1% | -24.0% |
| 10/30/2025 | 3.9% | -1.9% | 12.4% |
| 7/31/2025 | -4.1% | -0.9% | 6.9% |
| 5/8/2025 | 0.3% | 7.9% | 2.1% |
| 2/6/2025 | -4.2% | -1.7% | -11.1% |
| 10/30/2024 | -0.8% | 12.5% | 18.0% |
| 8/1/2024 | -7.9% | -6.0% | 2.0% |
| 4/25/2024 | -0.6% | 5.2% | 7.5% |
| 2/1/2024 | -1.9% | -1.9% | -6.3% |
| 10/26/2023 | -4.0% | -6.7% | 3.1% |
| 7/27/2023 | 3.6% | 2.4% | -7.4% |
| 4/27/2023 | -6.7% | -10.2% | -7.9% |
| 2/2/2023 | 6.1% | 4.0% | 0.0% |
| 10/27/2022 | 2.8% | 1.6% | 9.9% |
| 8/3/2022 | 4.8% | 9.7% | 3.5% |
| 4/28/2022 | 0.8% | 14.4% | 10.3% |
| 2/8/2022 | 5.7% | 5.5% | 8.0% |
| 10/28/2021 | -0.5% | 6.4% | 2.7% |
| 7/29/2021 | 0.7% | -4.6% | 5.8% |
| 5/5/2021 | -0.6% | 0.4% | -4.2% |
| 2/4/2021 | 2.0% | -2.7% | 10.6% |
| 10/29/2020 | 1.2% | 3.1% | 10.2% |
| SUMMARY STATS | |||
| # Positive | 11 | 12 | 16 |
| # Negative | 12 | 11 | 6 |
| Median Positive | 2.8% | 5.4% | 7.2% |
| Median Negative | -4.0% | -4.6% | -7.7% |
| Max Positive | 6.1% | 14.4% | 18.0% |
| Max Negative | -18.3% | -22.1% | -24.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 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 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 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 |
| 12/31/2021 | 02/25/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 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 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 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 |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/02/2019 | 10-Q |
| 03/31/2019 | 05/06/2019 | 10-Q |
| 12/31/2018 | 03/01/2019 | 10-K |
Recent Forward Guidance
Updated 9/28/2026Latest: Q2 2026 Earnings Reported 9/15/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Consolidated Operating Revenue | Reported | 3.60 Bil | 3.70 Bil | 3.80 Bil | -2.6% | Lowered | Guidance: 3.80 Bil for 2026 | |
| 2026 Capital Expenditures | Reported | 40.00 Mil | 45.00 Mil | 50.00 Mil | 12.5% | Raised | Guidance: 40.00 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 3.65 Bil | 3.80 Bil | 3.95 Bil | 4.1% | Higher New | Actual: 3.65 Bil for 2025 | |
| 2026 Capital Expenditures | Reported | 35.00 Mil | 40.00 Mil | 45.00 Mil | -20.0% | Lower New | Actual: 50.00 Mil for 2025 | |
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 3.60 Bil | 3.65 Bil | 3.70 Bil | -1.4% | Lowered | Guidance: 3.70 Bil for 2025 | |
| 2025 Diluted EPS | Reported | 1.8 | 1.85 | 1.9 | -3.9% | Lowered | Guidance: 1.93 for 2025 | |
| 2025 Capital Expenditures | Reported | 50.00 Mil | 11.1% | Raised | Guidance: 45.00 Mil for 2025 | |||
Investor Activity (13F)
Updated Oct 1, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Air Freight & Logistics Resources |
| Air Cargo World |
| Logistics Management |
| Journal of Commerce (JOC) |
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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