What does intermodal — operating ratio mean?

The operating ratio for the intermodal segment represents the percentage of revenue consumed by operating expenses. It is a key indicator of the segment's operational efficiency and profitability in managing rail-based logistics services. A lower ratio indicates that a smaller portion of revenue is spent on operating costs, reflecting higher efficiency.

Knight-Swift Transportation Holdings Inc. (KNX) Intermodal — Operating ratio

Screener

Other segment segments

Logistics

97.3%+1.7%

LTL

94.8%-0.5%

Truckload

93.4%-3.0%

Similar metrics at other companies

MRTNIntermodal — Operating Ratio

0%—

MRTNIntermodal — Operating Ratio Net Of Fuel Surcharges

0%—

SNDRIntermodal — Operating revenues

$297.2M-1.8%

ULHIntermodal — Operating Expenses

$60.97M-25.1%

ULHIntermodal — Operating Income

-$13.12M-22.5%

MRTNIntermodal — Operating Expenses

$0-100%

Other financials

Income statement

See full

Revenue$2.1B+12.6%

Operating income$104.9M+44.4%

Net income$43.2M+26.1%

EPS (diluted)$0.26+23.8%

Balance sheet

See full

Cash & equivalents$267.7M-22.4%

Total debt$1.3B-54.4%

Total equity$7.0B-2.0%

Total assets$12.0B-4.1%

Cash flow

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Operating cash flow$307.8M+42.2%

CapEx$250.6M+20.2%

Free cash flow$57.2M+621%

Valuation

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Market cap$11.52B+67.0%

Enterprise value$12.55B+33.7%

P/E137.2×-415×

P/S1.5×+0.6×

Profitability

See full

Operating margin2.7%-1.3pp

Net margin1.9%+1.3pp

FCF margin7.1%—

Returns & leverage

See full

Return on equity2%+1.3pp

Debt / equity0.2×-0.2×

Current ratio0.9×0.0×

Where this comes from

Reported directly by Knight-Swift Transportation Holdings Inc. in its filing.

Tagged under the XBRL concept knx:OperatingRatio.

The source filing: Knight-Swift Transportation Holdings Inc.’s 10-Q, filed July 29, 2026.

Filed: Jul 29, 2026, 1:00 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001492691-26-000059

Operating income (loss) by segment:	Truckload	LTL	Logistics	Intermodal	All Other Segments	Eliminations	Total
Operations and maintenance 2	123,035	28,664	4,169	6,272	(19,455)	(6,247)	136,438
Insurance and claims	79,356	17,339	841	1,114	1,550	(36)	100,164
Depreciation and amortization of property and equipment	135,830	21,856	444	6,206	13,825	—	178,161
Purchased transportation	131,948	9,149	117,533	69,976	4,487	(10,946)	322,147
Other segment items 2 3	106,373	46,702	6,259	5,846	25,104	(12,507)	177,777
Total operating expense	$1,258,198	$398,489	$135,869	$112,735	$115,997	$(30,427)	$1,990,861
Operating income (loss)	$89,145	$21,659	$3,827	$653	$(10,433)	—	$104,851
Operating ratio	93.4%	94.8%	97.3%	99.4%	109.9%	100.0%	95.0%

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Knight-Swift Transportation Holdings Inc.'s intermodal — operating ratio?: Knight-Swift Transportation Holdings Inc. (KNX) reported intermodal — operating ratio of 99.4% in Q2 2026.
How has Knight-Swift Transportation Holdings Inc.'s intermodal — operating ratio changed year-over-year?: Knight-Swift Transportation Holdings Inc.'s intermodal — operating ratio decreased by 4.5% year-over-year, from 104.1% to 99.4%.
What does intermodal — operating ratio mean?: The operating ratio for the intermodal segment represents the percentage of revenue consumed by operating expenses. It is a key indicator of the segment's operational efficiency and profitability in managing rail-based logistics services. A lower ratio indicates that a smaller portion of revenue is spent on operating costs, reflecting higher efficiency.