Saia (SAIA)
Market Price (6/23/2026): $436.07 | Market Cap: $11.7 BilSector: Industrials | Industry: Cargo Ground Transportation
Saia (SAIA)
Market Price (6/23/2026): $436.07Market Cap: $11.7 BilSector: IndustrialsIndustry: Cargo Ground Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% Low stock price volatilityVol 12M is 49% Megatrend and thematic driversMegatrends include Future of Freight, Automation & Robotics, and E-commerce & Digital Retail. Themes include Freight Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -32% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x 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 -2.0% Key risksSAIA key risks include [1] squeezed operating margins from rising costs that have outpaced revenue growth and [2] a strained balance sheet from high capital expenditures and increased debt tied to its aggressive network expansion. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include Future of Freight, Automation & Robotics, and E-commerce & Digital Retail. Themes include Freight Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -32% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x |
| 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 -2.0% |
| Key risksSAIA key risks include [1] squeezed operating margins from rising costs that have outpaced revenue growth and [2] a strained balance sheet from high capital expenditures and increased debt tied to its aggressive network expansion. |
Qualitative Assessment
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Saia (SAIA) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Exceeded Expectations and Bolstered Balance Sheet.
Saia reported record revenue for a first quarter in fiscal Q1 2026 (ended March 31, 2026), reaching $806.2 million, a 2.4% increase year-over-year, surpassing analyst estimates of $786.94 million. Diluted earnings per share (EPS) for the quarter remained flat at $1.86, but still beat the forecasted $1.82. The company also significantly strengthened its financial position, reducing total debt to $112.8 million at March 31, 2026, from $295.5 million a year earlier, and increasing cash on hand to $39.2 million.
2. Positive LTL Operating Data for Fiscal Q2 2026 Indicated Volume Growth.
Saia released strong less-than-truckload (LTL) operating metrics for the first two months of fiscal Q2 2026 (April and May). In April 2026, LTL shipments per workday increased by 5.6% and LTL tonnage per workday rose by 6.9% compared to April 2025. This trend continued in May 2026, with shipments per workday up 3.7% and tonnage per workday growing 8.4% year-over-year. These figures, alongside a 2.9% increase in LTL weight per shipment quarter-to-date, signaled healthier freight activity and increased demand within Saia's network.
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Saia (SAIA) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Exceeded Expectations and Bolstered Balance Sheet.
Saia reported record revenue for a first quarter in fiscal Q1 2026 (ended March 31, 2026), reaching $806.2 million, a 2.4% increase year-over-year, surpassing analyst estimates of $786.94 million. Diluted earnings per share (EPS) for the quarter remained flat at $1.86, but still beat the forecasted $1.82. The company also significantly strengthened its financial position, reducing total debt to $112.8 million at March 31, 2026, from $295.5 million a year earlier, and increasing cash on hand to $39.2 million.
2. Positive LTL Operating Data for Fiscal Q2 2026 Indicated Volume Growth.
Saia released strong less-than-truckload (LTL) operating metrics for the first two months of fiscal Q2 2026 (April and May). In April 2026, LTL shipments per workday increased by 5.6% and LTL tonnage per workday rose by 6.9% compared to April 2025. This trend continued in May 2026, with shipments per workday up 3.7% and tonnage per workday growing 8.4% year-over-year. These figures, alongside a 2.9% increase in LTL weight per shipment quarter-to-date, signaled healthier freight activity and increased demand within Saia's network.
3. Strategic Network Expansion to Enhance Capacity and Service.
Saia continued its investment in expanding its LTL terminal network during the period. The company opened two new terminals in Marysville, Washington, and Edinburgh, Indiana, in May 2026, with plans for 12 more locations by the end of 2026. This expansion strategy aims to build density in its national LTL network, improve routing efficiency, and enhance service capabilities, particularly in the Pacific Northwest and Midwest regions.
4. Favorable Less-Than-Truckload (LTL) Industry Dynamics.
The broader LTL freight market has shown signs of recovery and discipline in 2026. Industry trends indicate that LTL carriers are prioritizing "pricing discipline," with expectations of 3-5% rate increases. Improving manufacturing activity, steady consumer spending, and tightening truckload capacity are contributing to a shift of freight into LTL networks, creating a "rising tide lifts all boats" scenario for LTL carriers like Saia. This environment allows carriers to maintain pricing power and optimize revenue.
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Stock Movement Drivers
Fundamental Drivers
The 7.6% change in SAIA stock from 2/28/2026 to 6/22/2026 was primarily driven by a 7.6% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 405.39 | 436.05 | 7.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,234 | 3,253 | 0.6% |
| Net Income Margin (%) | 7.9% | 7.8% | -0.6% |
| P/E Multiple | 42.5 | 45.7 | 7.6% |
| Shares Outstanding (Mil) | 27 | 27 | -0.1% |
| Cumulative Contribution | 7.6% |
Market Drivers
2/28/2026 to 6/22/2026| Return | Correlation | |
|---|---|---|
| SAIA | 7.6% | |
| Market (SPY) | 8.8% | 57.7% |
| Sector (XLI) | 2.9% | 60.1% |
Fundamental Drivers
The 54.9% change in SAIA stock from 11/30/2025 to 6/22/2026 was primarily driven by a 72.3% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 281.56 | 436.05 | 54.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,233 | 3,253 | 0.6% |
| Net Income Margin (%) | 8.8% | 7.8% | -10.6% |
| P/E Multiple | 26.6 | 45.7 | 72.3% |
| Shares Outstanding (Mil) | 27 | 27 | -0.1% |
| Cumulative Contribution | 54.9% |
Market Drivers
11/30/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| SAIA | 54.9% | |
| Market (SPY) | 9.5% | 48.4% |
| Sector (XLI) | 19.0% | 58.5% |
Fundamental Drivers
The 64.9% change in SAIA stock from 5/31/2025 to 6/22/2026 was primarily driven by a 108.0% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 264.41 | 436.05 | 64.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,242 | 3,253 | 0.3% |
| Net Income Margin (%) | 9.9% | 7.8% | -20.8% |
| P/E Multiple | 22.0 | 45.7 | 108.0% |
| Shares Outstanding (Mil) | 27 | 27 | -0.2% |
| Cumulative Contribution | 64.9% |
Market Drivers
5/31/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| SAIA | 64.9% | |
| Market (SPY) | 27.7% | 44.6% |
| Sector (XLI) | 29.0% | 54.2% |
Fundamental Drivers
The 53.5% change in SAIA stock from 5/31/2023 to 6/22/2026 was primarily driven by a 114.3% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 284.16 | 436.05 | 53.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,791 | 3,253 | 16.5% |
| Net Income Margin (%) | 12.7% | 7.8% | -38.2% |
| P/E Multiple | 21.3 | 45.7 | 114.3% |
| Shares Outstanding (Mil) | 27 | 27 | -0.6% |
| Cumulative Contribution | 53.5% |
Market Drivers
5/31/2023 to 6/22/2026| Return | Correlation | |
|---|---|---|
| SAIA | 53.5% | |
| Market (SPY) | 85.1% | 41.0% |
| Sector (XLI) | 96.3% | 48.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SAIA Return | 86% | -38% | 109% | 4% | -28% | 33% | 141% |
| Peers Return | 75% | -24% | 61% | -1% | -2% | 53% | 219% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| SAIA Win Rate | 67% | 33% | 67% | 67% | 50% | 67% | |
| Peers Win Rate | 72% | 37% | 62% | 45% | 52% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SAIA Max Drawdown | -21% | -49% | -22% | -39% | -53% | -24% | |
| Peers Max Drawdown | -19% | -36% | -25% | -27% | -38% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ODFL, XPO, ARCB, KNX, JBHT. See SAIA Returns vs. Peers.
[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 6/22/2026 (YTD)
How Low Can It Go
| Event | SAIA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -50.3% | -18.8% |
| % Gain to Breakeven | 101.3% | 23.1% |
| Time to Breakeven | 398 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -16.5% | -7.8% |
| % Gain to Breakeven | 19.8% | 8.5% |
| Time to Breakeven | 37 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.2% | -9.5% |
| % Gain to Breakeven | 15.2% | 10.5% |
| Time to Breakeven | 17 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.8% | -24.5% |
| % Gain to Breakeven | 84.3% | 32.4% |
| Time to Breakeven | 358 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.8% | -33.7% |
| % Gain to Breakeven | 51.1% | 50.9% |
| Time to Breakeven | 27 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.9% | -19.2% |
| % Gain to Breakeven | 40.7% | 23.8% |
| Time to Breakeven | 223 days | 105 days |
In The Past
Saia's stock fell -50.3% during the 2025 US Tariff Shock. Such a loss loss requires a 101.3% gain to breakeven.
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Asset Allocation
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| Event | SAIA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -50.3% | -18.8% |
| % Gain to Breakeven | 101.3% | 23.1% |
| Time to Breakeven | 398 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.8% | -24.5% |
| % Gain to Breakeven | 84.3% | 32.4% |
| Time to Breakeven | 358 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.8% | -33.7% |
| % Gain to Breakeven | 51.1% | 50.9% |
| Time to Breakeven | 27 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.9% | -19.2% |
| % Gain to Breakeven | 40.7% | 23.8% |
| Time to Breakeven | 223 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -53.1% | -12.2% |
| % Gain to Breakeven | 113.3% | 13.9% |
| Time to Breakeven | 300 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -59.3% | -6.8% |
| % Gain to Breakeven | 145.7% | 7.3% |
| Time to Breakeven | 324 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.1% | -17.9% |
| % Gain to Breakeven | 75.8% | 21.8% |
| Time to Breakeven | 123 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -47.9% | -53.4% |
| % Gain to Breakeven | 91.9% | 114.4% |
| Time to Breakeven | 134 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -42.3% | -8.6% |
| % Gain to Breakeven | 73.2% | 9.5% |
| Time to Breakeven | 2016 days | 47 days |
In The Past
Saia's stock fell -50.3% during the 2025 US Tariff Shock. Such a loss loss requires a 101.3% 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 Saia (SAIA)
Saia, Inc. (SAIA) is a transportation company operating across North America. Its primary business revolves around providing less-than-truckload (LTL) services, catering to businesses that need to ship freight too large for standard parcel delivery but not enough to fill an entire truck.
The company's core LTL offering handles shipments typically ranging between 400 and 10,000 pounds, making it a crucial service for a wide array of commercial customers. In addition to LTL, Saia offers other value-added logistics services, including non-asset truckload solutions, expedited shipping for time-sensitive deliveries, and broader logistics management capabilities, serving the diverse freight movement needs of businesses throughout North America.
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- Like UPS or FedEx, but specializing in transporting larger, pallet-sized business shipments across North America, rather than small packages.
- Think of it as an Uber or Lyft for commercial freight, efficiently consolidating multiple businesses' medium-sized shipments onto trucks.
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- Less-than-Truckload (LTL) Services: Provides transportation for shipments typically ranging from 400 to 10,000 pounds.
- Non-Asset Truckload Services: Offers full truckload transportation solutions, often leveraging third-party carriers without owning the assets directly.
- Expedited Services: Delivers time-sensitive shipments with faster transit times.
- Logistics Services: Provides comprehensive supply chain management and coordination services to clients.
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Saia (SAIA) primarily serves other businesses rather than individuals. As a less-than-truckload (LTL) transportation company, its services are utilized by a wide array of commercial and industrial customers for shipping goods.
Saia does not publicly disclose specific "major customers" by name, as its customer base is highly diversified across numerous industries. No single customer accounts for a material percentage of its total revenue, and therefore, specific major customers are not identified in its public filings.
However, Saia's customer base includes businesses from various sectors that require freight shipping services. These categories of customers include:
- Manufacturing companies
- Retailers and wholesale distributors
- E-commerce businesses
Additionally, Saia serves companies in specialized industries such as the chemical, automotive, and food and beverage sectors, providing essential logistics and transportation for their goods across North America.
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Frederick Holzgrefe became President and Chief Executive Officer of Saia in April 2020, having previously served as President and Chief Operating Officer from January 2019, and as Chief Financial Officer from 2014. Before joining Saia, he held roles as Vice President of Business Development and prior to that, Vice President and CFO for a Georgia subsidiary of a major agricultural processor (Golden Peanut Company). His career also includes experience in the food and technology industries, as well as in banking and financial advisory services. He managed Financial Planning and Analysis for Commworks Division of 3Com and was a Senior Finance Manager for The Pillsbury Company, and a Senior Associate for Coopers & Lybrand.
Matthew Batteh Executive Vice President and Chief Financial OfficerMatthew Batteh was promoted to Executive Vice President and Chief Financial Officer of Saia in May 2024, succeeding Douglas Col. He joined Saia in 2015 and has held various roles within the company, including Vice President of Finance since 2023 and Vice President of Pricing and Analytics from 2020 to 2023. Prior to his tenure at Saia, Mr. Batteh began his career at another large transportation and logistics provider (UPS), where he worked in planning, pricing, and operations.
Raymond Ramu Executive Vice President and Chief Customer OfficerRaymond Ramu was appointed Chief Customer Officer of Saia in 2015 and later named Executive Vice President in 2017. In this role, he is responsible for the strategic direction and management of the customer relationship. Before these appointments, he served as Saia's Vice President of Sales, Eastern Division, starting in 2008. Mr. Ramu started his career in the freight industry at the age of 20 with a regional less-than-truckload carrier.
Patrick Sugar Executive Vice President of OperationsPatrick Sugar joined Saia in 2016 and currently serves as Executive Vice President of Operations. In this position, he oversees the operations of all divisions, regions, and facilities, working closely with the CEO and other executive leaders. Prior to joining Saia, he had a career in engineering and operations management within a prominent packaged goods company. He also held the role of Saia's Vice President of Linehaul and Industrial Engineering, where he was involved in developing and implementing key technologies and strategic planning.
Anthony Norwood Executive Vice President and Chief Human Resources OfficerAnthony Norwood was named Executive Vice President and Chief Human Resources Officer at Saia, effective March 2, 2022. He is responsible for all aspects of human resources and the development of the company's human capital strategy. Before Saia, Mr. Norwood held the position of Vice President of HR – Corporate at Trane Technologies from 2020 to 2022 and various HR executive roles at Ingersoll Rand from 2008 to 2020. His earlier career includes HR positions of increasing responsibility at Coca-Cola Bottling Co. Consolidated, Merck & Co., Lucent Technologies' New Ventures Group, and Amoco Corporation.
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- General Economic Conditions and Freight Demand Fluctuations: Saia's business is highly sensitive to overall economic conditions, including inflationary pressures, economic downturns, and changes in freight demand. These factors can directly impact shipment volumes, pricing power, and ultimately, the company's revenue and profitability.
- Rising Operating Costs: The company faces significant risks from increasing operating costs, particularly volatile fuel prices, rising labor expenses (wages and benefits), and higher insurance costs. These direct costs can erode profit margins and challenge the company's financial performance.
- Operational Challenges Inherent in LTL Shipping: As an LTL carrier, Saia is exposed to operational risks such as a higher likelihood of freight damage, loss, and shipping delays due to the multiple handling points involved in the less-than-truckload model. These issues can lead to increased claims, diminished customer satisfaction, and operational inefficiencies.
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- The rapid emergence and development of autonomous trucking technology, which could fundamentally alter operational costs, labor requirements, and competitive dynamics within the long-haul segments that often feed into less-than-truckload (LTL) networks.
- The increasing market penetration and technological sophistication of digital freight brokerage platforms (sometimes referred to as "Uber for freight"), which leverage technology to connect shippers and carriers more efficiently, increasing price transparency and potentially disintermediating traditional LTL and non-asset logistics services offered by companies like Saia.
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Saia (symbol: SAIA) operates in several key segments of the North American transportation and logistics market. The addressable markets for their main products and services are outlined below:
- Less-than-truckload (LTL) services: The United States less-than-truckload market was valued at approximately USD 114 billion in 2025. The North America less-than-truckload market generated a revenue of approximately USD 84.63 billion in 2024 and is expected to reach approximately USD 120.55 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.1% from 2025 to 2030.
- Non-asset truckload services: For full-truckload services, the United States full-truck-load market is estimated at USD 448.65 billion in 2025 and is projected to reach USD 547.89 billion by 2031. The North America road freight transport market, which encompasses both LTL and FTL, is expected to increase from USD 660.24 billion in 2025 to USD 686.58 billion in 2026, reaching USD 839.77 billion by 2031.
- Expedited services: The United States express delivery market was valued at USD 96.30 billion in 2025 and is estimated to grow to USD 127.05 billion by 2031. The North America express delivery market holds a value of USD 114.6 billion.
- Logistics services: The U.S. logistics market was valued at USD 485 billion in 2025 and is projected to reach USD 854.85 billion by 2034. The North America logistics market reached approximately USD 2,398.14 billion in 2025 and is expected to attain a value of USD 4,019.37 billion by 2035, with a CAGR of 5.30% during the forecast period of 2026-2035.
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- Network Expansion and New Terminals: Saia has been actively expanding its Less-Than-Truckload (LTL) network by opening new terminals. In 2024, the company opened 21 new terminals, including several acquired from Yellow Corp., expanding its national network to 213 locations. This expansion into newer, "ramping markets" has been a primary driver of increased revenue tonnage and shipments.
- Increased Market Share through National Network: The expanded national network positions Saia to better serve its existing enterprise customers by accommodating new lanes as these customers grow. It also allows Saia to more effectively compete for freight from national shippers, thereby increasing its overall market share and building density within its network.
- Strategic Pricing and Strong Contract Renewals: Saia anticipates implementing pricing strategies that stay ahead of cost inflation. The company has demonstrated strong pricing power, with contractual rate increases averaging 4.9% in the fourth quarter of 2025 and 6.6% in January 2026. Furthermore, customer retention rates following general rate increases (GRIs) have been notably high, exceeding 90%, which is above historical levels.
- Operational Efficiencies and Technology Investments: Saia plans to continue leveraging technology and focusing on network optimization to enhance operational efficiency and customer satisfaction. While not a direct revenue generator, these investments are crucial for improving service quality, managing costs, and increasing capacity utilization, which indirectly supports revenue growth by allowing for higher volumes and competitive service offerings.
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Capital Allocation Decisions for Saia (SAIA)
Share Issuance
- In early 2024, Saia executed a secondary equity offering, raising $1 billion gross to fund the acquisition of Yellow Corporation assets, which resulted in a slight dilution of existing ownership.
Outbound Investments
- In January 2024, Saia acquired 17 freight terminals and leased an additional 11 terminals through the Chapter 11 bankruptcy proceedings of Yellow Corporation. This acquisition contributed to approximately $235.7 million of Saia's capital expenditures in 2024.
Capital Expenditures
- Saia's net capital expenditures were approximately $1.04 billion in 2024, a significant increase from $437.2 million in 2023 and $365.5 million in 2022.
- Capital expenditures for 2024 focused on real estate, revenue equipment, and technology, including $235.7 million specifically for the acquisition of properties from Yellow Corporation. The investment supported the expansion of Saia's network, enabling direct service to new geographies and enhancing its national footprint.
- For 2025, net capital expenditures were $544.1 million, down from 2024, and anticipated capital expenditures for 2026 are projected to be between $350 million and $400 million. Over the past five years (up to December 31, 2025), Saia invested over $2.5 billion in capital expenditures, primarily for real estate, revenue equipment, and technology.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 210.36 |
| Mkt Cap | 17.9 |
| Rev LTM | 6,476 |
| Op Inc LTM | 554 |
| FCF LTM | 477 |
| FCF 3Y Avg | 118 |
| CFO LTM | 1,163 |
| CFO 3Y Avg | 936 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.5% |
| Rev Chg 3Y Avg | -1.5% |
| Rev Chg Q | 2.8% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | -9.7% |
| Op Inc Chg 3Y Avg | -9.7% |
| Op Mgn LTM | 8.3% |
| Op Mgn 3Y Avg | 7.8% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 15.4% |
| CFO/Rev 3Y Avg | 13.3% |
| FCF/Rev LTM | 6.3% |
| FCF/Rev 3Y Avg | 2.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 17.9 |
| P/S | 2.5 |
| P/Op Inc | 33.6 |
| P/EBIT | 34.2 |
| P/E | 52.0 |
| P/CFO | 17.3 |
| Total Yield | 2.1% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 2.0% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.1% |
| 3M Rtn | 33.7% |
| 6M Rtn | 40.0% |
| 12M Rtn | 74.8% |
| 3Y Rtn | 52.9% |
| 1M Excs Rtn | 3.9% |
| 3M Excs Rtn | 22.1% |
| 6M Excs Rtn | 30.2% |
| 12M Excs Rtn | 48.0% |
| 3Y Excs Rtn | -20.2% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Transportation services | 3,234 | 3,209 | 2,881 | 2,792 | 2,289 |
| Total | 3,234 | 3,209 | 2,881 | 2,792 | 2,289 |
| $ Mil | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|
| Saia | 60 | 55 | 36 | 28 |
| Jevic | 3 | 9 | 9 | |
| Corporate and Other | -4 | -4 | ||
| Total | 60 | 58 | 41 | 33 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Transportation services | 255 | 362 | 355 |
| Total | 255 | 362 | 355 |
| $ Mil | 2006 | 2005 | 2004 |
|---|---|---|---|
| Saia | 473 | 389 | 348 |
| Jevic | 151 | 149 | |
| Corporate and Other | 12 | ||
| Total | 473 | 540 | 509 |
Price Behavior
| Market Price | $436.05 | |
| Market Cap ($ Bil) | 11.7 | |
| First Trading Date | 09/12/2002 | |
| Distance from 52W High | -10.5% | |
| 50 Days | 200 Days | |
| DMA Price | $448.35 | $360.50 |
| DMA Trend | up | up |
| Distance from DMA | -2.7% | 21.0% |
| 3M | 1YR | |
| Volatility | 48.8% | 48.6% |
| Downside Capture | 198.35 | 174.50 |
| Upside Capture | 209.14 | 189.72 |
| Correlation (SPY) | 54.9% | 44.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.36 | 2.29 | 2.14 | 1.87 | 1.77 | 1.41 |
| Up Beta | 6.82 | 2.63 | 2.09 | 1.76 | 1.92 | 1.60 |
| Down Beta | -0.17 | -0.42 | 1.24 | 1.30 | 1.29 | 1.08 |
| Up Capture | 229% | 246% | 267% | 353% | 315% | 274% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 23 | 35 | 73 | 130 | 393 |
| Down Capture | 416% | 278% | 232% | 153% | 148% | 109% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 18 | 28 | 51 | 119 | 357 |
[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 SAIA | |
|---|---|---|---|---|
| SAIA | 72.4% | 48.7% | 1.28 | - |
| Sector ETF (XLI) | 29.7% | 16.2% | 1.42 | 55.0% |
| Equity (SPY) | 26.1% | 12.4% | 1.59 | 44.3% |
| Gold (GLD) | 24.1% | 27.5% | 0.77 | 14.4% |
| Commodities (DBC) | 18.5% | 18.8% | 0.77 | -26.3% |
| Real Estate (VNQ) | 11.8% | 13.8% | 0.57 | 38.4% |
| Bitcoin (BTCUSD) | -40.2% | 42.5% | -1.09 | 19.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SAIA | |
|---|---|---|---|---|
| SAIA | 16.4% | 51.4% | 0.49 | - |
| Sector ETF (XLI) | 13.8% | 17.5% | 0.62 | 53.9% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 50.2% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 5.1% |
| Commodities (DBC) | 7.5% | 19.4% | 0.28 | 1.7% |
| Real Estate (VNQ) | 2.1% | 18.9% | 0.01 | 38.1% |
| Bitcoin (BTCUSD) | 9.4% | 54.1% | 0.37 | 22.4% |
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 SAIA | |
|---|---|---|---|---|
| SAIA | 33.1% | 45.8% | 0.80 | - |
| Sector ETF (XLI) | 14.4% | 20.0% | 0.63 | 55.6% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 52.7% |
| Gold (GLD) | 12.2% | 16.1% | 0.62 | 2.1% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 11.3% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 39.5% |
| Bitcoin (BTCUSD) | 59.9% | 66.8% | 1.00 | 15.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | 6.3% | 6.5% | 11.9% |
| 2/10/2026 | -6.8% | -5.2% | -16.6% |
| 10/30/2025 | 2.2% | 2.0% | 5.7% |
| 7/25/2025 | 7.0% | -3.1% | 2.7% |
| 4/25/2025 | -30.7% | -32.2% | -25.4% |
| 2/3/2025 | -2.0% | 2.0% | -17.3% |
| 10/25/2024 | 11.4% | 17.9% | 30.7% |
| 7/26/2024 | -18.9% | -19.2% | -17.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 15 |
| # Negative | 10 | 9 | 9 |
| Median Positive | 5.9% | 9.8% | 11.9% |
| Median Negative | -4.9% | -5.2% | -16.6% |
| Max Positive | 14.6% | 25.9% | 30.7% |
| Max Negative | -30.7% | -32.2% | -26.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | 6.3% | 6.5% | 11.9% |
| 2/10/2026 | -6.8% | -5.2% | -16.6% |
| 10/30/2025 | 2.2% | 2.0% | 5.7% |
| 7/25/2025 | 7.0% | -3.1% | 2.7% |
| 4/25/2025 | -30.7% | -32.2% | -25.4% |
| 2/3/2025 | -2.0% | 2.0% | -17.3% |
| 10/25/2024 | 11.4% | 17.9% | 30.7% |
| 7/26/2024 | -18.9% | -19.2% | -17.7% |
| 4/26/2024 | -21.0% | -25.2% | -26.3% |
| 2/2/2024 | 14.3% | 18.3% | 24.9% |
| 10/27/2023 | -8.7% | 0.1% | 11.0% |
| 7/28/2023 | 3.7% | 3.6% | -0.9% |
| 4/28/2023 | 14.6% | 12.1% | 9.4% |
| 2/3/2023 | -0.4% | -3.6% | 1.8% |
| 10/31/2022 | 3.5% | 9.2% | 22.0% |
| 7/27/2022 | 2.4% | 13.1% | 7.6% |
| 5/2/2022 | 1.4% | 5.3% | -4.1% |
| 2/2/2022 | -0.2% | -5.4% | -6.5% |
| 10/28/2021 | 13.9% | 25.9% | 22.6% |
| 7/29/2021 | 8.3% | 16.3% | 15.2% |
| 4/28/2021 | -2.9% | -2.1% | -6.0% |
| 2/8/2021 | 5.5% | 9.8% | 16.5% |
| 10/29/2020 | 3.6% | 13.3% | 22.2% |
| 7/29/2020 | -2.4% | -2.1% | 7.2% |
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 15 |
| # Negative | 10 | 9 | 9 |
| Median Positive | 5.9% | 9.8% | 11.9% |
| Median Negative | -4.9% | -5.2% | -16.6% |
| Max Positive | 14.6% | 25.9% | 30.7% |
| Max Negative | -30.7% | -32.2% | -26.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/28/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/28/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
| 06/30/2019 | 07/31/2019 | 10-Q |
Insider Activity
Updated 5/21/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Norwood, Anthony R | EVP & CHRO | Direct | Sell | 5212026 | 468.77 | 292 | 136,881 | 2,294,160 | Form |
| 2 | Eisnor, Di-Ann | Direct | Sell | 2192026 | 389.88 | 500 | 194,940 | 2,032,052 | Form | |
| 3 | Holzgrefe, Frederick J Iii | President & CEO | Direct | Sell | 2172026 | 388.80 | 4,775 | 1,856,535 | 8,842,551 | Form |
| 4 | Batteh, Matthew J | Chief Financial Officer | Direct | Sell | 2172026 | 389.03 | 916 | 356,354 | 1,728,860 | Form |
| 5 | Benton, Kelly W | VP & CAO | Direct | Sell | 2172026 | 389.00 | 800 | 311,200 | 1,228,073 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Norwood, Anthony R | EVP & CHRO | Direct | Sell | 5212026 | 468.77 | 292 | 136,881 | 2,294,160 | Form |
| 2 | Eisnor, Di-Ann | Direct | Sell | 2192026 | 389.88 | 500 | 194,940 | 2,032,052 | Form | |
| 3 | Holzgrefe, Frederick J Iii | President & CEO | Direct | Sell | 2172026 | 388.80 | 4,775 | 1,856,535 | 8,842,551 | Form |
| 4 | Batteh, Matthew J | Chief Financial Officer | Direct | Sell | 2172026 | 389.03 | 916 | 356,354 | 1,728,860 | Form |
| 5 | Benton, Kelly W | VP & CAO | Direct | Sell | 2172026 | 389.00 | 800 | 311,200 | 1,228,073 | Form |
| 6 | Sugar, Patrick D | EVP Operations | Direct | Sell | 2172026 | 386.74 | 2,706 | 1,046,519 | 3,527,456 | Form |
| 7 | Ramu, Raymond R | Exec. VP & Chief Customer Off. | Direct | Sell | 2172026 | 387.95 | 5,226 | 2,027,426 | 1,408,646 | Form |
| 8 | Batteh, Matthew J | Chief Financial Officer | Direct | Sell | 2172026 | 375.71 | 1,110 | 417,037 | 2,013,802 | Form |
| 9 | Eisnor, Di-Ann | Direct | Sell | 12102025 | 336.73 | 297 | 100,009 | 1,923,402 | Form | |
| 10 | Benton, Kelly W | VP & CAO | Direct | Sell | 12042025 | 314.43 | 1,000 | 314,428 | 971,895 | Form |
| 11 | Epps, Donna E | Direct | Sell | 12012025 | 277.43 | 422 | 117,075 | 396,725 | Form | |
| 12 | Epps, Donna E | Direct | Buy | 12012025 | 277.60 | 422 | 117,145 | 514,106 | Form | |
| 13 | Ramu, Raymond R | Exec. VP & Chief Customer Off. | Direct | Sell | 11202025 | 266.57 | 1,000 | 266,570 | 1,306,726 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Cargo Ground Transportation Resources |
| Transport Topics |
| Commercial Carrier Journal (CCJ) |
| FreightWaves |
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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