What is Heartland Expr's earnings per share (EPS)?

Heartland Expr (HTLD) reported diluted earnings per share of $-0.67 for fiscal year 2025. This represents a -76.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Heartland Expr Financials

HTLD

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Heartland Expr (HTLD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 21/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Heartland Expr has an operating margin of -7.1%, meaning the company retains $-7 of operating profit per $100 of revenue. This below-average margin results in a low score of 6/100, suggesting thin profitability after operating expenses. This is down from -1.9% the prior year.

Growth

Heartland Expr's revenue declined 23.1% year-over-year, from $1.0B to $805.7M. This contraction results in a growth score of 0/100.

Leverage

Heartland Expr carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Heartland Expr's current ratio of 1.04 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 16/100, which could limit financial flexibility.

Cash Flow

While Heartland Expr generated $89.3M in operating cash flow, capex of $156.2M consumed most of it, leaving -$66.9M in free cash flow. This results in a low score of 4/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Heartland Expr generates a -6.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -3.6% the prior year.

Piotroski F-Score Neutral

4/9

Heartland Expr passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-1.70x

For every $1 of reported earnings, Heartland Expr generates $-1.70 in operating cash flow ($89.3M OCF vs -$52.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-5.0x

Heartland Expr earns $-5.0 in operating income for every $1 of interest expense (-$57.4M vs $11.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$805.7M

YoY-23.1%

5Y CAGR+4.5%

10Y CAGR+0.9%

Heartland Expr generated $805.7M in revenue in fiscal year 2025. This represents a decrease of 23.1% from the prior year.

EBITDA

$101.8M

YoY-36.9%

5Y CAGR-13.0%

10Y CAGR-7.8%

Heartland Expr's EBITDA was $101.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.9% from the prior year.

Net Income

-$52.5M

YoY-76.5%

Heartland Expr reported -$52.5M in net income in fiscal year 2025. This represents a decrease of 76.5% from the prior year.

EPS (Diluted)

$-0.67

YoY-76.3%

Heartland Expr earned $-0.67 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 76.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$66.9M

YoY-292.0%

Heartland Expr generated -$66.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 292.0% from the prior year.

Cash & Debt

$18.5M

YoY+44.2%

5Y CAGR-30.5%

10Y CAGR-5.7%

Heartland Expr held $18.5M in cash against $154.1M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.08

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+0.0%

Heartland Expr paid $0.08 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

77M

YoY-1.4%

5Y CAGR-0.8%

10Y CAGR-0.8%

Heartland Expr had 77M shares outstanding in fiscal year 2025. This represents a decrease of 1.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-7.1%

YoY-5.2pp

5Y CAGR-21.6pp

10Y CAGR-23.0pp

Heartland Expr's operating margin was -7.1% in fiscal year 2025, reflecting core business profitability. This is down 5.2 percentage points from the prior year.

Net Margin

-6.5%

YoY-3.7pp

5Y CAGR-17.5pp

10Y CAGR-16.4pp

Heartland Expr's net profit margin was -6.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.7 percentage points from the prior year.

Return on Equity

-6.9%

YoY-3.3pp

5Y CAGR-16.7pp

10Y CAGR-22.5pp

Heartland Expr's ROE was -6.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$10.4M

YoY+42.8%

5Y CAGR-16.5%

10Y CAGR-17.8%

Heartland Expr spent $10.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 42.8% from the prior year.

Capital Expenditures

$156.2M

YoY+42.6%

5Y CAGR-5.2%

10Y CAGR-3.2%

Heartland Expr invested $156.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 42.6% from the prior year.

HTLD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$805.7M-23.1%	$1.0B-13.2%	$1.2B+24.7%	$968.0M+59.4%	$607.3M-5.9%	$645.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$57.4M-183.7%	-$20.2M-147.7%	$42.4M-77.5%	$188.4M+78.7%	$105.4M+12.8%	$93.4M
Interest Expense	$11.5M-34.6%	$17.6M-27.3%	$24.2M+182.7%	$8.6M	$0	$0
Income Tax	-$15.7M-125.4%	-$7.0M-236.9%	$5.1M-89.3%	$47.5M+77.5%	$26.8M+14.1%	$23.5M
Net Income	-$52.5M-76.5%	-$29.7M-301.2%	$14.8M-88.9%	$133.6M+68.5%	$79.3M+12.0%	$70.8M
EPS (Diluted)	$-0.67-76.3%	$-0.38-300.0%	$0.19-88.8%	$1.69+69.0%	$1.00+14.9%	$0.87

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$179.4M-8.7%	$196.5M-6.6%	$210.4M-4.1%	$219.4M-9.5%	$242.6M-6.7%	$259.9M-5.4%	$274.8M+1.6%	$270.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$22.8M-215.0%	-$7.3M+41.6%	-$12.4M+16.6%	-$14.9M-1557.7%	$1.0M+114.3%	-$7.1M-2804.2%	$264K+101.8%	-$14.4M
Interest Expense	$2.5M-13.5%	$2.9M-1.8%	$3.0M-4.6%	$3.1M-10.3%	$3.5M-18.4%	$4.2M-7.2%	$4.6M-13.7%	$5.3M
Income Tax	-$5.7M-247.7%	-$1.6M+62.1%	-$4.3M-8.2%	-$4.0M-1020.7%	-$357K+80.6%	-$1.8M-238.4%	-$544K+87.1%	-$4.2M
Net Income	-$19.4M-134.7%	-$8.3M+23.7%	-$10.9M+21.8%	-$13.9M-648.7%	-$1.9M+80.0%	-$9.3M-166.9%	-$3.5M+77.0%	-$15.1M
EPS (Diluted)	N/A	$-0.11+21.4%	$-0.14+22.2%	$-0.18	N/A	$-0.12-200.0%	$-0.04+78.9%	$-0.19

HTLD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.2B-10.7%	$1.3B-11.6%	$1.5B-9.6%	$1.7B+79.8%	$928.5M-2.4%	$951.2M
Current Assets	$114.6M-11.5%	$129.4M-23.5%	$169.3M-26.3%	$229.8M-1.5%	$233.2M+20.8%	$193.0M
Cash & Equivalents	$18.5M+44.2%	$12.8M-54.4%	$28.1M-43.1%	$49.5M-68.6%	$157.7M+38.6%	$113.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$74.2M-19.0%	$91.6M-10.8%	$102.7M-26.5%	$139.8M+164.7%	$52.8M-5.0%	$55.6M
Goodwill	$322.6M0.0%	$322.6M0.0%	$322.6M+0.6%	$320.7M+90.5%	$168.3M0.0%	$168.3M
Total Liabilities	$436.3M-14.7%	$511.6M-20.6%	$644.4M-20.8%	$814.0M+304.1%	$201.4M-11.2%	$226.8M
Current Liabilities	$110.2M-7.9%	$119.6M-3.2%	$123.5M-21.2%	$156.8M+119.0%	$71.6M+0.8%	$71.0M
Long-Term Debt	$154.1M-19.6%	$191.7M-34.1%	$290.7M-27.2%	$399.1M	$0	N/A
Total Equity	$755.3M-8.2%	$822.6M-4.9%	$865.3M+1.1%	$855.5M+17.7%	$727.1M+0.4%	$724.3M
Retained Earnings	$965.4M-5.7%	$1.0B-3.4%	$1.1B+0.8%	$1.1B+13.8%	$924.4M+3.7%	$891.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.2B-5.2%	$1.3B-3.2%	$1.3B-3.4%	$1.3B+0.8%	$1.3B-2.0%	$1.4B-3.7%	$1.4B-2.7%	$1.5B
Current Assets	$114.6M-17.0%	$138.1M+1.4%	$136.2M-3.0%	$140.4M+8.5%	$129.4M-17.6%	$157.1M-4.3%	$164.1M+2.5%	$160.1M
Cash & Equivalents	$18.5M-43.5%	$32.7M+42.9%	$22.9M-4.2%	$23.9M+86.3%	$12.8M-58.3%	$30.7M+28.8%	$23.9M+0.2%	$23.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$74.2M-7.3%	$80.0M-6.6%	$85.7M-9.8%	$95.0M+3.7%	$91.6M-8.4%	$100.0M-8.2%	$108.9M+0.9%	$107.9M
Goodwill	$322.6M0.0%	$322.6M0.0%	$322.6M0.0%	$322.6M0.0%	$322.6M0.0%	$322.6M0.0%	$322.6M0.0%	$322.6M
Total Liabilities	$436.3M-9.5%	$482.0M-6.0%	$512.6M-4.5%	$537.0M+5.0%	$511.6M-4.5%	$535.7M-7.1%	$576.7M-4.5%	$603.7M
Current Liabilities	$110.2M-9.3%	$121.4M-15.4%	$143.6M-7.6%	$155.5M+30.1%	$119.6M-11.3%	$134.7M+0.7%	$133.8M+5.0%	$127.5M
Long-Term Debt	$154.1M-13.2%	$177.5M-2.9%	$182.9M-3.2%	$188.8M-1.5%	$191.7M-3.2%	$198.1M-13.3%	$228.5M-10.2%	$254.6M
Total Equity	$755.3M-2.6%	$775.6M-1.4%	$786.7M-2.6%	$807.7M-1.8%	$822.6M-0.4%	$825.7M-1.3%	$836.8M-1.4%	$848.8M
Retained Earnings	$965.4M-2.1%	$986.4M-1.0%	$996.2M-1.2%	$1.0B-1.5%	$1.0B-0.3%	$1.0B-1.0%	$1.0B-0.5%	$1.0B

HTLD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$89.3M-38.1%	$144.3M-12.7%	$165.3M-15.1%	$194.7M+57.8%	$123.4M-31.0%	$178.8M
Capital Expenditures	$156.2M+42.6%	$109.5M-47.5%	$208.6M+29.9%	$160.6M+21.1%	$132.6M-35.1%	$204.3M
Free Cash Flow	-$66.9M-292.0%	$34.8M+180.3%	-$43.3M-226.9%	$34.1M+470.3%	-$9.2M+63.8%	-$25.5M
Investing Cash Flow	-$26.0M+44.1%	-$46.5M+31.4%	-$67.9M+89.8%	-$663.3M-24957.0%	-$2.6M+97.6%	-$111.0M
Financing Cash Flow	-$58.2M+48.4%	-$112.7M+6.6%	-$120.7M-133.6%	$359.3M+559.7%	-$78.1M-138.7%	-$32.7M
Dividends Paid	$6.2M-1.6%	$6.3M0.0%	$6.3M0.0%	$6.3M-86.3%	$45.9M+606.2%	$6.5M
Share Buybacks	$10.4M+42.8%	$7.3M	$0	$0-100.0%	$32.0M+24.8%	$25.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$14.9M-45.7%	$27.5M+31.1%	$21.0M-18.7%	$25.8M-31.6%	$37.8M+6.2%	$35.6M-11.0%	$40.0M+29.1%	$31.0M
Capital Expenditures	$59.1M+49.0%	$39.7M+17.4%	$33.8M+43.4%	$23.6M-71.7%	$83.3M+658.4%	$11.0M+4.2%	$10.5M+124.5%	$4.7M
Free Cash Flow	-$44.2M-263.7%	-$12.2M+5.0%	-$12.8M-659.9%	$2.3M+105.0%	-$45.5M-285.0%	$24.6M-16.4%	$29.4M+12.0%	$26.3M
Investing Cash Flow	-$1.8M+74.4%	-$6.9M-18.7%	-$5.8M+49.4%	-$11.5M+76.1%	-$48.0M-1263.1%	$4.1M+190.1%	-$4.6M-334.8%	$2.0M
Financing Cash Flow	-$27.3M-134.4%	-$11.6M+28.3%	-$16.2M-439.4%	-$3.0M+61.9%	-$7.9M+75.7%	-$32.4M+9.0%	-$35.7M+2.9%	-$36.7M
Dividends Paid	$1.5M-3.0%	$1.6M-1.3%	$1.6M+0.1%	$1.6M-50.1%	$3.1M+100.7%	$1.6M-0.8%	$1.6M	$0
Share Buybacks	$35K-97.6%	$1.4M	N/A	N/A	$0	$0	N/A	N/A

HTLD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-7.1%-5.2pp	-1.9%-5.4pp	3.5%-16.0pp	19.5%+2.1pp	17.4%+2.9pp	14.5%
Net Margin	-6.5%-3.7pp	-2.8%-4.1pp	1.2%-12.6pp	13.8%+0.8pp	13.1%+2.1pp	11.0%
Return on Equity	-6.9%-3.3pp	-3.6%-5.3pp	1.7%-13.9pp	15.6%+4.7pp	10.9%+1.1pp	9.8%
Return on Assets	-4.4%-2.2pp	-2.2%-3.2pp	1.0%-7.0pp	8.0%-0.5pp	8.5%+1.1pp	7.4%
Current Ratio	1.04-0.0	1.08-0.3	1.37-0.1	1.47-1.8	3.26+0.5	2.72
Debt-to-Equity	0.20-0.0	0.23-0.1	0.34-0.1	0.47+0.5	0.00-0.3	0.31
FCF Margin	-8.3%-11.6pp	3.3%+6.9pp	-3.6%-7.1pp	3.5%+5.0pp	-1.5%+2.4pp	-4.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-12.7%-9.1pp	-3.7%+2.2pp	-5.9%+0.9pp	-6.8%-7.2pp	0.4%+3.2pp	-2.8%-2.9pp	0.1%+5.4pp	-5.3%
Net Margin	-10.8%-6.6pp	-4.2%+1.0pp	-5.2%+1.2pp	-6.3%-5.6pp	-0.8%+2.8pp	-3.6%-2.3pp	-1.3%+4.3pp	-5.6%
Return on Equity	-2.6%-1.5pp	-1.1%+0.3pp	-1.4%+0.3pp	-1.7%-1.5pp	-0.2%+0.9pp	-1.1%-0.7pp	-0.4%+1.4pp	-1.8%
Return on Assets	-1.6%-1.0pp	-0.7%+0.2pp	-0.8%+0.2pp	-1.0%-0.9pp	-0.1%+0.5pp	-0.7%-0.4pp	-0.3%+0.8pp	-1.0%
Current Ratio	1.04-0.1	1.14+0.2	0.95+0.0	0.90-0.2	1.08-0.1	1.17-0.1	1.23-0.0	1.26
Debt-to-Equity	0.20-0.0	0.230.0	0.230.0	0.230.0	0.230.0	0.24-0.0	0.27-0.0	0.30
FCF Margin	-24.6%-18.5pp	-6.2%-0.1pp	-6.1%-7.1pp	1.0%+19.8pp	-18.8%-28.2pp	9.5%-1.2pp	10.7%+1.0pp	9.7%

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Frequently Asked Questions

What is Heartland Expr's annual revenue?

Heartland Expr (HTLD) reported $805.7M in total revenue for fiscal year 2025. This represents a -23.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Heartland Expr's revenue growing?

Heartland Expr (HTLD) revenue declined by 23.1% year-over-year, from $1.0B to $805.7M in fiscal year 2025.

Is Heartland Expr profitable?

No, Heartland Expr (HTLD) reported a net income of -$52.5M in fiscal year 2025, with a net profit margin of -6.5%.

What is Heartland Expr's EBITDA?

Heartland Expr (HTLD) had EBITDA of $101.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Heartland Expr have?

As of fiscal year 2025, Heartland Expr (HTLD) had $18.5M in cash and equivalents against $154.1M in long-term debt.

What is Heartland Expr's operating margin?

Heartland Expr (HTLD) had an operating margin of -7.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Heartland Expr's net profit margin?

Heartland Expr (HTLD) had a net profit margin of -6.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Heartland Expr pay dividends?

Yes, Heartland Expr (HTLD) paid $0.08 per share in dividends during fiscal year 2025.

What is Heartland Expr's return on equity (ROE)?

Heartland Expr (HTLD) has a return on equity of -6.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Heartland Expr's free cash flow?

Heartland Expr (HTLD) generated -$66.9M in free cash flow during fiscal year 2025. This represents a -292.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Heartland Expr's operating cash flow?

Heartland Expr (HTLD) generated $89.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Heartland Expr's total assets?

Heartland Expr (HTLD) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Heartland Expr's capital expenditures?

Heartland Expr (HTLD) invested $156.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Heartland Expr buy back shares?

Yes, Heartland Expr (HTLD) spent $10.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Heartland Expr have outstanding?

Heartland Expr (HTLD) had 77M shares outstanding as of fiscal year 2025.

What is Heartland Expr's current ratio?

Heartland Expr (HTLD) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.

What is Heartland Expr's debt-to-equity ratio?

Heartland Expr (HTLD) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Heartland Expr's return on assets (ROA)?

Heartland Expr (HTLD) had a return on assets of -4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Heartland Expr's Piotroski F-Score?

Heartland Expr (HTLD) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Heartland Expr's earnings high quality?

Heartland Expr (HTLD) has an earnings quality ratio of -1.70x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Heartland Expr cover its interest payments?

Heartland Expr (HTLD) has an interest coverage ratio of -5.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Heartland Expr?

Heartland Expr (HTLD) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.