LANDSTAR SYSTEM INC
LSTR · Trucking (No Local) · 33.9M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $50M (gross $54M, SBC $4M)
Reference price $218.17 · est. market cap ~$7.4B — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Asset-light, debt-free transportation franchise with top-quartile returns, cyclically depressed by the freight recession.
Strengths
- ROE 14.5% (84.6th pct), ROIC 15.0% (90.9th pct), top-decile net/operating margins, zero debt and peak-percentile cash
- Agent/capacity-network model with high incremental returns and 27x interest coverage
Risks
- Net income -41% and revenue down in the freight downturn; OCF margin fell to 12.5th pct this year
- Nuclear-verdict/broker-liability litigation (Cabral Matter) and rising excess-insurance costs
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
3.2%
Net margin
2.4%
Return on equity
14.5%
Return on assets
7.0%
ROIC
15.0%
Revenue growth (QoQ)
-0.3%
Net-income growth
-41.3%
Debt / equity
0.0×
Net debt / EBITDA
-2.3×
Interest coverage
27.1×
Current ratio
1.7×
Free cash flow
$215M
EBITDA
$198M
Tangible book value
$762M
Cash & investments
$452M
Stock comp / revenue
0.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Todd James P | Sell | 1.2K | $218.17 |
| 2026-06-05 | MURPHY DIANA M | Sell | 11K | $221.28 |
| 2026-05-06 | MURPHY DIANA M | Grant | 825 | — |
| 2026-05-06 | WHITE TERESA L | Grant | 825 | — |
| 2026-05-06 | Scanlon George P | Grant | 825 | — |
| 2026-05-06 | Liang James L | Grant | 825 | — |
| 2026-05-06 | HART MELANIE M | Grant | 825 | — |
| 2026-05-06 | Blanton Jonathan Barr | Grant | 825 | — |
| 2026-05-06 | BANNISTER DAVID G/ | Grant | 825 | — |
| 2026-05-06 | Akbari Dr. Homaira | Grant | 825 | — |
| 2026-03-15 | Miller Matthew | Tax withheld | 130 | $146.78 |
| 2026-02-23 | Lewis Terri M | Grant | 1.2K | — |
| 2026-02-23 | Lewis Terri M | Grant | 3.3K | — |
| 2026-02-02 | Lonegro Frank A | Tax withheld | 2.1K | $154.55 |
| 2026-01-31 | Dannegger Matthew M | Tax withheld | 357 | $148.91 |
| 2026-01-31 | Miller Matthew | Tax withheld | 159 | $148.91 |
| 2026-01-31 | Kneller Michael K | Tax withheld | 365 | $148.91 |
| 2026-01-31 | Lonegro Frank A | Tax withheld | 922 | $148.91 |
| 2026-01-31 | Applegate James M | Tax withheld | 227 | $148.91 |
| 2026-01-31 | Todd James P | Tax withheld | 519 | $148.91 |
| 2026-01-31 | CORO RICARDO S | Tax withheld | 366 | $148.91 |
| 2026-01-30 | Todd James P | Grant | 1.7K | — |
| 2026-01-30 | Miller Matthew | Grant | 1.7K | — |
| 2026-01-30 | Lonegro Frank A | Grant | 6.7K | — |
| 2026-01-30 | Kneller Michael K | Grant | 1.7K | — |
| 2026-01-30 | Dannegger Matthew M | Grant | 1.2K | — |
| 2026-01-30 | CORO RICARDO S | Grant | 1.7K | — |
| 2026-01-30 | Applegate James M | Grant | 1.2K | — |
| 2025-10-31 | HOUSEY HART MELANIE | Grant | 645 | — |
| 2025-10-31 | Blanton Jonathan Barr | Grant | 645 | — |
| 2025-05-19 | Akbari Dr. Homaira | Grant | 1.0K | — |
| 2025-05-19 | BANNISTER DAVID G/ | Grant | 1.0K | — |
| 2025-05-19 | MURPHY DIANA M | Grant | 1.0K | — |
| 2025-05-19 | Liang James L | Grant | 1.0K | — |
| 2025-05-19 | WHITE TERESA L | Grant | 1.0K | — |
| 2025-05-19 | Scanlon George P | Grant | 1.0K | — |
| 2025-05-19 | ORLANDO ANTHONY J | Grant | 1.0K | — |
| 2025-03-15 | Miller Matthew | Tax withheld | 152 | $149.09 |
| 2025-02-02 | Lonegro Frank A | Tax withheld | 2.1K | $165.27 |
| 2025-01-31 | Dannegger Matthew M | Tax withheld | 63 | $165.27 |
| 2025-01-31 | CORO RICARDO S | Grant | 1.5K | — |
| 2025-01-31 | CORO RICARDO S | Tax withheld | 393 | $165.27 |
| 2025-01-31 | Cooper Aimee M | Grant | 756 | — |
| 2025-01-31 | Cooper Aimee M | Tax withheld | 167 | $165.27 |
| 2025-01-31 | Applegate James M | Grant | 1.1K | — |
| 2025-01-31 | Applegate James M | Tax withheld | 144 | $165.27 |
| 2025-01-31 | Beacom Joseph J | Tax withheld | 393 | $165.27 |
| 2025-01-31 | Todd James P | Grant | 1.5K | — |
| 2025-01-31 | Todd James P | Tax withheld | 432 | $165.27 |
| 2025-01-31 | Miller Matthew | Grant | 1.1K | — |
| 2025-01-31 | Miller Matthew | Tax withheld | 86 | $165.27 |
| 2025-01-31 | Lonegro Frank A | Grant | 6.0K | — |
| 2025-01-31 | Lonegro Frank A | Tax withheld | 454 | $165.27 |
| 2025-01-31 | Kneller Michael K | Grant | 1.5K | — |
| 2025-01-31 | Kneller Michael K | Tax withheld | 392 | $165.27 |
| 2025-01-31 | Dannegger Matthew M | Grant | 1.1K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-06 | 2026-05-05 | 0001193125-26-207702 ↗ |
| 10-Q | 2026-04-29 | 2026-03-28 | 0001193125-26-191131 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001193125-26-187186 ↗ |
| 8-K | 2026-04-02 | 2026-04-02 | 0001193125-26-139160 ↗ |
| 10-K | 2026-02-24 | 2025-12-27 | 0001193125-26-064756 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001193125-26-027265 ↗ |
| 8-K | 2026-01-21 | 2026-01-21 | 0001193125-26-018078 ↗ |
| 8-K | 2025-12-04 | 2025-12-03 | 0001193125-25-307529 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001193125-25-258044 ↗ |
| 10-Q | 2025-10-28 | 2025-09-27 | 0001193125-25-253766 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001193125-25-253591 ↗ |
| 8-K | 2025-08-13 | 2025-08-11 | 0001193125-25-179448 ↗ |