Heartland Expr (HTLD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HTLD SEC filings page.
Heartland Expr (HTLD) reported $736.3M in revenue over the twelve months to Jun 30, 2026, down 21.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Revenue contraction is exposing a cost structure that remains cash-generative before heavy asset reinvestment.
Between FY2022 and FY2025, revenue fell16.8% while operating margin moved from19.5% to-7.1% . The combination indicates that costs adjusted more slowly than activity, turning prior operating profitability into losses as the business became smaller.
In FY2025, the company reported a net loss of
Deleveraging has occurred alongside a shrinking liquidity cushion: debt-to-equity declined from 0.5x in FY2022 to 0.2x in FY2025, while the current ratio fell from 1.5x to 1.0x. Because assets and liabilities contracted together, the lower leverage ratio reflects balance-sheet contraction as well as reduced debt dependence, not simply stronger short-term liquidity.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Heartland Expr's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Heartland Expr has an operating margin of -7.1%, meaning the company loses $7 on every $100 of revenue. This results in a profitability score of 25/100. This is down from -1.9% the prior year.
Heartland Expr's revenue declined 23.1% year-over-year, from $1.0B to $805.7M. This contraction results in a growth score of 5/100.
Heartland Expr has a moderate D/E ratio of 0.20. This balance of debt and equity financing earns a leverage score of 41/100.
Heartland Expr's current ratio of 1.04 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.
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 18/100, reflecting heavy capital investment rather than weak cash generation.
Heartland Expr posts a -6.9% return on equity (ROE), meaning it loses $7 for every $100 of shareholders' equity. This results in a returns score of 25/100. This is down from -3.6% the prior year.
Heartland Expr scores 2.98, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Heartland Expr passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Heartland Expr reported a net loss of $52.5M while generating $89.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Heartland Expr reported an operating loss of $57.4M against $11.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Heartland Expr generated $184.1M in revenue in Q2 2026. This represents a decrease of 12.5% from the same quarter a year earlier. Against the prior quarter it is up 4.5%.
Heartland Expr's EBITDA was $48.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.2% from the same quarter a year earlier. Against the prior quarter it is up 53.3%.
Heartland Expr reported $10.6M in net income in Q2 2026. This represents an increase of 197.5% from the same quarter a year earlier. Against the prior quarter it is up 319.5%.
Heartland Expr earned $0.14 per diluted share (EPS) in Q2 2026. This represents an increase of 200.0% from the same quarter a year earlier. Against the prior quarter it is up 333.3%.
Cash & Balance Sheet
Heartland Expr recorded an outflow of $34.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 170.1% from the same quarter a year earlier. Against the prior quarter it is down 773.2%.
Heartland Expr held $62.4M in cash against $134.9M in long-term debt as of Q2 2026.
Heartland Expr paid $0.02 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Heartland Expr's operating margin was 9.0% in Q2 2026, reflecting core business profitability. This is up 14.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.9 percentage points.
Heartland Expr's net profit margin was 5.8% in Q2 2026, showing the share of revenue converted to profit. This is up 10.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.5 percentage points.
Heartland Expr's ROE was 1.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.
Not reported for Q2 2026.
Capital Allocation
Heartland Expr invested $47.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 40.4% from the same quarter a year earlier. Against the prior quarter it is up 163.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
HTLD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $184.1M-12.5% | $176.3M-19.7% | $179.4M-26.1% | $196.5M-24.4% | $210.4M-23.4% | $219.4M-18.8% | $242.6M-11.9% | $259.9M-11.9% |
| SG&A Expenses | $69.1M-20.7% | $69.1M-25.9% | $71.5M-26.7% | $77.3M-28.1% | $87.2M-20.8% | $93.2M-17.3% | $97.5M-13.1% | $107.4M-9.7% |
| Operating Income | $16.5M+233.3% | -$3.3M+77.9% | -$22.8M-2335.1% | -$7.3M-1.6% | -$12.4M-4804.2% | -$14.9M-3.6% | $1.0M-90.5% | -$7.1M+4.0% |
| EBITDA | $48.9M+68.2% | $31.9M+19.2% | $14.5M-67.7% | $31.5M-16.7% | $29.0M-37.4% | $26.7M-16.8% | $44.9M-27.3% | $37.8M-13.4% |
| Interest Expense | $1.9M-36.6% | $2.2M-28.8% | $2.5M-27.4% | $2.9M-31.5% | $3.0M-35.2% | $3.1M-41.4% | $3.5M-41.6% | $4.2M-30.1% |
| Income Tax | $4.5M+203.0% | -$477K+88.1% | -$5.7M-1498.0% | -$1.6M+10.9% | -$4.3M-695.6% | -$4.0M+5.0% | -$357K-1600.0% | -$1.8M+27.2% |
| Net Income | $10.6M+197.5% | -$4.8M+65.2% | -$19.4M-949.2% | -$8.3M+10.8% | -$10.9M-212.1% | -$13.9M+8.2% | -$1.9M-136.4% | -$9.3M+13.3% |
| EPS (Basic) | $0.14+200.0% | -$0.06+66.7% | -$0.25-733.3% | -$0.11+8.3% | -$0.14-250.0% | -$0.18+5.3% | -$0.03-142.9% | -$0.12+14.3% |
| EPS (Diluted) | $0.14+200.0% | -$0.06+66.7% | -$0.25-733.3% | -$0.11+8.3% | -$0.14-250.0% | -$0.18+5.3% | -$0.03-142.9% | -$0.12+14.3% |
| Diluted Shares (Avg) | 77M-0.9% | 77M-1.4% | N/A | 78M-1.3% | 78M-1.1% | 79M-0.6% | N/A | 79M-0.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
HTLD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-9.6% | $1.2B-12.2% | $1.2B-10.7% | $1.3B-7.6% | $1.3B-8.1% | $1.3B-7.4% | $1.3B-11.6% | $1.4B-13.6% |
| Current Assets | $185.8M+36.4% | $143.2M+2.0% | $114.6M-11.5% | $138.1M-12.1% | $136.2M-17.0% | $140.4M-12.3% | $129.4M-23.5% | $157.1M-13.7% |
| Cash & Equivalents | $62.4M+172.7% | $44.5M+86.4% | $18.5M+44.2% | $32.7M+6.3% | $22.9M-4.1% | $23.9M+0.2% | $12.8M-54.4% | $30.7M+52.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $76.7M-10.5% | $77.8M-18.1% | $74.2M-19.0% | $80.0M-20.0% | $85.7M-21.3% | $95.0M-12.0% | $91.6M-10.8% | $100.0M-12.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% | $322.6M0.0% |
| Total Liabilities | $418.5M-18.4% | $431.9M-19.6% | $436.3M-14.7% | $482.0M-10.0% | $512.6M-11.1% | $537.0M-11.1% | $511.6M-20.6% | $535.7M-25.0% |
| Current Liabilities | $117.2M-18.4% | $112.6M-27.6% | $110.2M-7.9% | $121.4M-9.9% | $143.6M+7.3% | $155.5M+22.0% | $119.6M-3.2% | $134.7M-5.2% |
| Non-Current Liabilities | $301.3M-18.4% | $319.3M-16.3% | $326.1M-16.8% | $360.5M-10.1% | $369.0M-16.7% | $381.5M-19.9% | $392.0M-24.7% | $401.0M-29.9% |
| Long-Term Debt | $134.9M-26.2% | $149.9M-20.6% | $154.1M-19.6% | $177.5M-10.4% | $182.9M-20.0% | $188.8M-25.8% | $191.7M-34.1% | $198.1M-40.8% |
| Total Equity | $756.3M-3.9% | $749.0M-7.3% | $755.3M-8.2% | $775.6M-6.1% | $786.7M-6.0% | $807.7M-4.8% | $822.6M-4.9% | $825.7M-4.1% |
| Retained Earnings | $968.1M-2.8% | $959.0M-4.9% | $965.4M-5.7% | $986.4M-4.0% | $996.2M-4.1% | $1.0B-3.3% | $1.0B-3.4% | $1.0B-2.8% |
Not reported in any period shown, so not listed: Inventory.
HTLD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.9M-38.7% | $23.2M-10.4% | $14.9M-60.5% | $27.5M-22.7% | $21.0M-47.5% | $25.8M-16.6% | $37.8M-7.4% | $35.6M+30.9% |
| Depreciation & Amortization | $32.3M-22.1% | $35.2M-15.5% | $37.4M-14.9% | $38.7M-13.8% | $41.5M-10.1% | $41.6M-10.5% | $43.9M-14.1% | $45.0M-12.0% |
| Stock-Based Compensation | $700K+40.0% | $200K-71.4% | N/A | $200K+100.0% | $500K+25.0% | $700K+133.3% | N/A | $100K-80.0% |
| Capital Expenditures | $47.4M+40.4% | $18.0M-23.5% | $59.1M-29.0% | $39.7M+261.2% | $33.8M+220.4% | $23.6M+401.6% | $83.3M+162.5% | $11.0M-84.0% |
| Free Cash Flow | -$34.6M-170.1% | $5.1M+124.7% | -$44.2M+2.9% | -$12.2M-149.4% | -$12.8M-143.5% | $2.3M-91.3% | -$45.5M-601.3% | $24.6M+159.1% |
| Investing Cash Flow | $24.0M+511.7% | $14.9M+229.8% | -$1.8M+96.3% | -$6.9M-267.3% | -$5.8M-27.0% | -$11.5M-689.1% | -$48.0M-444.3% | $4.1M+108.6% |
| Financing Cash Flow | -$19.1M-17.6% | -$11.5M-282.6% | -$27.3M-245.4% | -$11.6M+64.1% | -$16.2M+54.5% | -$3.0M+91.8% | -$7.9M+83.3% | -$32.4M-380.4% |
| Dividends Paid | $1.6M-1.4% | $1.6M-1.3% | $1.5M-52.2% | $1.6M-1.1% | $1.6M-0.6% | $1.6M | $3.1M+0.3% | $1.6M-0.7% |
| Share Buybacks | N/A | N/A | $35K | $1.4M | N/A | N/A | $0 | $0 |
HTLD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.0%+14.9pp | -1.9%+4.9pp | -12.7%-13.2pp | -3.7%-0.9pp | -5.9%-6.0pp | -6.8%-1.5pp | 0.4%-3.5pp | -2.8%-0.2pp |
| Net Margin | 5.8%+10.9pp | -2.7%+3.6pp | -10.8%-10.1pp | -4.2%-0.6pp | -5.2%-3.9pp | -6.3%-0.7pp | -0.8%-2.6pp | -3.6%+0.1pp |
| Return on Equity | 1.4%+2.8pp | -0.6%+1.1pp | -2.6%-2.3pp | -1.1%+0.1pp | -1.4%-1.0pp | -1.7%+0.1pp | -0.2%-0.8pp | -1.1%+0.1pp |
| Return on Assets | 0.9%+1.7pp | -0.4%+0.6pp | -1.6%-1.5pp | -0.7%0.0pp | -0.8%-0.6pp | -1.0%0.0pp | -0.1%-0.5pp | -0.7%0.0pp |
| Current Ratio | 1.58+0.6x | 1.27+0.4x | 1.040.0x | 1.140.0x | 0.95-0.3x | 0.90-0.4x | 1.08-0.3x | 1.17-0.1x |
| Debt-to-Equity | 0.18-0.1x | 0.200.0x | 0.200.0x | 0.230.0x | 0.230.0x | 0.23-0.1x | 0.23-0.1x | 0.24-0.1x |
| Asset Turnover | 0.160.0x | 0.150.0x | 0.150.0x | 0.160.0x | 0.160.0x | 0.160.0x | 0.180.0x | 0.190.0x |
| FCF Margin | -18.8%-12.7pp | 2.9%+1.9pp | -24.6%-5.9pp | -6.2%-15.7pp | -6.1%-16.8pp | 1.0%-8.7pp | -18.8%-22.1pp | 9.5%+23.6pp |
Not reported in any period shown, so not listed: Gross Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Heartland Expr HTLD | FY2025 | $805.7M | -$52.5M | -6.5% | $962.0M | 22/100 |
| Universal Logistics Hldgs Inc ULH | FY2025 | $1.6B | -$99.9M | -6.4% | $487.0M | 27/100 |
| Covenant Logistics Group Inc CVLG | FY2025 | $1.2B | $7.2M | 0.6% | $872.5M | 33/100 |
| Marten Trans MRTN | FY2025 | $883.7M | $17.4M | 2.0% | $1.2B | 39/100 |
| Arcbest Corp ARCB | FY2025 | $4.0B | $60.1M | 1.5% | $3.1B | 43/100 |
| Werner Entprise WERN | FY2025 | $3.0B | -$14.4M | -0.5% | $2.3B | 34/100 |
Where Heartland Expr Ranks
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) recorded an outflow of $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.
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 P/E ratio?
Heartland Expr (HTLD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $962.0M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Heartland Expr's price-to-sales ratio?
Heartland Expr (HTLD) trades at 1.3x sales, its market capitalization divided by revenue of $736.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $962.0M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Heartland Expr's Altman Z-Score?
Heartland Expr (HTLD) has an Altman Z-Score of 2.98, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Heartland Expr's Piotroski F-Score?
Heartland Expr (HTLD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $52.5M while generating $89.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $57.4M against $11.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 22 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.