COVENANT LOGISTICS GROUP, INC.
CVLG · Trucking (No Local) · 27.7M shares · +12%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $18M (gross $25M, SBC $7M)
Reference price $40.15 · est. market cap ~$1.1B — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Scaled $1.2B trucking carrier but a weak, near-breakeven year with thin cash and rising leverage.
Strengths
- Real, diversified operating franchise (~2,300 tractors) with revenue growth and disciplined capital allocation
- Stable margins versus peers and access to credit facilities
Risks
- ROE 1.8% / ROA 0.7% (both ~50 pct) with net income down 80% (17.5 pct) — barely profitable
- Cash runway 0.6 quarters (8.9 pct), FCF -$34M and D/E 0.58 (80 pct)
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
1.8%
Return on assets
0.7%
ROIC
0.4%
Revenue growth (QoQ)
13.8%
Net-income growth
-79.8%
Debt / equity
0.6×
Net debt / EBITDA
2.4×
Current ratio
1.1×
Free cash flow
-$34M
EBITDA
$96M
Tangible book value
$218M
Cash & investments
$5M
Cash runway
1q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | Ballard Joey | Sell | 4.0K | $40.15 |
| 2026-05-28 | Grant James S III | Option exercise | 18K | $7.88 |
| 2026-05-28 | Grant James S III | Tax withheld | 10K | $39.55 |
| 2026-05-28 | Grant James S III | Option exercise | 18K | $7.88 |
| 2026-05-27 | HOGAN JOEY B | Sell | 13K | $39.18 |
| 2026-05-26 | Ballard Joey | Sell | 3.7K | $38.00 |
| 2026-05-22 | Ballard Joey | Sell | 4.3K | $37.40 |
| 2026-05-22 | BUNN PAUL | Option exercise | 9.4K | $10.62 |
| 2026-05-22 | BUNN PAUL | Option exercise | 33K | $7.88 |
| 2026-05-22 | BUNN PAUL | Option exercise | 13K | $7.88 |
| 2026-05-22 | BUNN PAUL | Option exercise | 9.4K | $10.62 |
| 2026-05-22 | BUNN PAUL | Option exercise | 64K | $7.88 |
| 2026-05-22 | BUNN PAUL | Tax withheld | 20K | $37.41 |
| 2026-05-19 | Welborn Wesley Miller | Gift | 4.3K | — |
| 2026-05-13 | MOLINE BRADLEY A | Grant | 4.4K | — |
| 2026-05-13 | Welborn Wesley Miller | Grant | 4.4K | — |
| 2026-05-13 | Schmidt Herbert J | Grant | 4.4K | — |
| 2026-05-13 | Rosser Tracy L. | Grant | 4.4K | — |
| 2026-05-13 | Parker-Hatchett Rachel | Grant | 4.4K | — |
| 2026-05-13 | KRAMER D MICHAEL | Grant | 4.4K | — |
| 2026-05-13 | HOGAN JOEY B | Grant | 4.4K | — |
| 2026-05-13 | CARSON BENJAMIN SR | Grant | 4.4K | — |
| 2026-04-29 | PARKER DAVID RAY | Gift | 70K | — |
| 2026-04-29 | PARKER DAVID RAY | Option exercise | 156K | $10.62 |
| 2026-04-29 | PARKER DAVID RAY | Option exercise | 9.4K | $10.62 |
| 2026-04-29 | PARKER DAVID RAY | Tax withheld | 96K | $34.84 |
| 2026-04-29 | KRAMER D MICHAEL | Sell | 2.6K | $34.72 |
| 2026-04-29 | KRAMER D MICHAEL | Gift | 3.4K | — |
| 2026-04-28 | HOGAN JOEY B | Sell | 15K | $34.76 |
| 2026-04-20 | Grant James S III | Sell | 22K | $30.75 |
| 2026-03-06 | Grant James S III | Disposition | 5.5K | — |
| 2026-03-06 | Ballard Joey | Disposition | 5.5K | — |
| 2026-02-27 | HOGAN JOEY B | Gift | 2.6K | — |
| 2026-02-20 | PARKER DAVID RAY | Sell | 18K | $28.98 |
| 2026-02-20 | PARKER DAVID RAY | Sell | 12K | $29.47 |
| 2026-02-19 | PARKER DAVID RAY | Sell | 55K | $29.38 |
| 2026-02-18 | PARKER DAVID RAY | Sell | 65K | $29.34 |
| 2026-02-17 | PARKER DAVID RAY | Sell | 96K | $29.70 |
| 2026-02-17 | PARKER DAVID RAY | Sell | 3.7K | $28.85 |
| 2026-02-13 | PARKER DAVID RAY | Sell | 15K | $28.46 |
| 2026-02-12 | PARKER DAVID RAY | Sell | 1.0K | $27.02 |
| 2026-02-12 | PARKER DAVID RAY | Sell | 2.8K | $27.76 |
| 2026-02-12 | PARKER DAVID RAY | Sell | 16K | $29.36 |
| 2026-02-11 | PARKER DAVID RAY | Sell | 17K | $29.42 |
| 2026-02-11 | PARKER DAVID RAY | Sell | 11K | $29.23 |
| 2026-02-10 | PARKER DAVID RAY | Sell | 4.8K | $28.57 |
| 2026-02-10 | PARKER DAVID RAY | Sell | 50K | $29.23 |
| 2026-02-10 | PARKER DAVID RAY | Sell | 15K | $28.61 |
| 2026-02-09 | PARKER DAVID RAY | Sell | 56K | $28.66 |
| 2026-02-04 | HOGAN JOEY B | Gift | 5.5K | — |
| 2025-12-31 | BUNN PAUL | Tax withheld | 5.8K | $22.04 |
| 2025-12-31 | Grant James S III | Tax withheld | 2.3K | $22.04 |
| 2025-12-31 | Ballard Joey | Tax withheld | 1.0K | $22.04 |
| 2025-11-24 | Welborn Wesley Miller | Gift | 4.5K | — |
| 2025-07-01 | Grant James S III | Option exercise | 3.5K | — |
| 2025-07-01 | BUNN PAUL | Option exercise | 7.0K | — |
| 2025-07-01 | BUNN PAUL | Tax withheld | 3.1K | $25.23 |
| 2025-07-01 | Grant James S III | Tax withheld | 1.4K | $25.23 |
| 2025-07-01 | Long Matisse | Option exercise | 564 | — |
| 2025-07-01 | Long Matisse | Tax withheld | 138 | $25.23 |
| 2025-07-01 | Ballard Joey | Option exercise | 2.1K | — |
| 2025-07-01 | Ballard Joey | Tax withheld | 832 | $25.23 |
| 2025-07-01 | Koehl Dustin | Option exercise | 2.8K | — |
| 2025-07-01 | Koehl Dustin | Tax withheld | 687 | $25.23 |
| 2025-06-01 | Long Matisse | Tax withheld | 2.1K | $22.70 |
| 2025-05-21 | KRAMER D MICHAEL | Sell | 2.2K | $22.80 |
| 2025-05-14 | Schmidt Herbert J | Grant | 4.3K | — |
| 2025-05-14 | KRAMER D MICHAEL | Grant | 4.3K | — |
| 2025-05-14 | Rosser Tracy L. | Grant | 4.3K | — |
| 2025-05-14 | HOGAN JOEY B | Grant | 4.3K | — |
| 2025-05-14 | CARSON BENJAMIN SR | Grant | 4.3K | — |
| 2025-05-14 | Parker-Hatchett Rachel | Grant | 4.3K | — |
| 2025-05-14 | Welborn Wesley Miller | Grant | 4.3K | — |
| 2025-05-14 | MOLINE BRADLEY A | Grant | 4.3K | — |
| 2025-02-24 | HOGAN JOEY B | Gift | 18K | — |
| 2025-02-21 | HOGAN JOEY B | Gift | 18K | — |
| 2025-01-29 | HOGAN JOEY B | Gift | 5.4K | — |
| 2025-01-28 | Long Matisse | Sell | 2.1K | $28.95 |
| 2025-01-01 | BUNN PAUL | Tax withheld | 15K | $27.25 |
| 2024-12-31 | Ballard Joey | Tax withheld | 2.1K | $27.25 |
| 2024-12-31 | Long Matisse | Tax withheld | 682 | $27.25 |
| 2024-12-31 | Grant James S III | Tax withheld | 2.4K | $27.25 |
| 2024-12-31 | BUNN PAUL | Tax withheld | 3.5K | $27.25 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
- Department of War
- U.S. government
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Material agreement | filing ↗ |
| 2026-05-15 | Exec/director changeShareholder voteOtherExhibits | filing ↗ |
| 2026-04-23 | ResultsExhibits | filing ↗ |
| 2026-02-10 | OtherExhibits | filing ↗ |
| 2026-02-09 | Other | filing ↗ |
| 2026-01-29 | ResultsExhibits | filing ↗ |
| 2025-12-22 | Exec/director change | filing ↗ |
| 2025-11-21 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-17 | 0001008886-26-000179 ↗ |
| 8-K | 2026-05-15 | 2026-05-13 | 0001008886-26-000133 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015445 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0001008886-26-000101 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001437749-26-006086 ↗ |
| 8-K | 2026-02-10 | 2026-02-05 | 0001008886-26-000026 ↗ |
| 8-K | 2026-02-09 | 2026-02-09 | 0001008886-26-000022 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001008886-26-000017 ↗ |
| 8-K | 2025-12-22 | 2025-12-16 | 0001008886-25-000323 ↗ |
| 8-K | 2025-11-21 | 2025-11-20 | 0001008886-25-000298 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0001437749-25-033809 ↗ |
| 8-K | 2025-10-23 | 2025-10-22 | 0001008886-25-000282 ↗ |