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Nasdaq · Industrials

HEARTLAND EXPRESS INC (HTLD)

As-reported financials and SEC filings for HEARTLAND EXPRESS INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About HEARTLAND EXPRESS INC

Heartland Express Inc is a holding company that operates as a short, medium, and long-haul truckload carrier and transportation services provider in the United States. It primarily offers nationwide asset-based dry van truckload services for major shippers, along with cross-border freight and transportation services in Mexico through partnerships. The company serves customers with time-sensitive shipments and focuses on maintaining high service standards, safety, and driver retention across its brands including Heartland Express, Millis Transfer, Smith Transport, and CFI.

Snapshot

Revenue
$805.7M
Revenue growth (YoY)
-23.1%
Net income
$-52.5M
Diluted EPS
$-0.67
Gross margin
Operating margin
-7.1%
Net margin
-6.5%
FCF margin
-8.3%
ROE
-6.9%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$941.9M
Long-term debt / equity
0.20×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Heartland Express

  • Revenue fell 23.1% to $806M in FY2025, after a 13.2% decline the year before.
  • Operating margin is now a 7.1% loss in FY2025, from 17.4% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $184M, down 12.5% from Q2 FY2025.
  • Free cash flow was negative $67M in FY2025.
  • Net loss widened to $52M in FY2025, from $30M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Heartland Express’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin-7.1%
17th percentile of 605
Net margin-6.5%
17th percentile of 645
FCF margin-8.3%
14th percentile of 562
Revenue growth (YoY)-23.1%
5th percentile of 668
ROE-6.9%
24th percentile of 600
Long-term debt / equity0.20×
26th percentile of 409
Short interest3.61d
57th percentile of 676

Heartland Express’s revenue growth of -23.1% ranks in the 5th percentile of the 668 Industrials companies reporting it. Heartland Express’s FCF margin of -8.3% ranks in the 14th percentile of the 562 Industrials companies reporting it.

1 reported insider purchase (code P) totaling $31,380 in the last 90 days, against 1 sale totaling $492,091. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
2
1 new, 1 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$35.9M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$20.9M1.4MReduced
Citadel AdvisorsquantQ2 2026$7.4M485.5KAdded
AQR Capital ManagementquantQ2 2026$5.8M380.4KReduced
Millennium ManagementquantQ2 2026$1.4M88.9KNew
Gotham Asset ManagementQ2 2026$311,11220.4KReduced
D. E. ShawquantQ2 2026$155,62510.2KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
1
1 insider
Bought (90d)
$31K
code P value
Sells (90d)
1
$492K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-15
filed 2026-06-17
Millis David PaulDirectorSell31.4K$15.67$492K
2026-06-10
filed 2026-06-12
SPALDING DAVID PDirectorBuy2.0K$15.69$31K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.9M
settled 2026-08-14
Change vs prior
+1.4%
vs previous settlement
Days to cover
3.61
at avg daily volume
Avg daily volume
797.9K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.9M+1.4%3.61
2026-07-312.8M+35.1%3.67
2026-07-152.1M-2.2%4.61
2026-06-302.2M-10.2%2.89
2026-06-152.4M+1.0%3.54
2026-05-292.4M+7.8%4.01
2026-05-152.2M+4.7%4.20
2026-04-302.1M+17.5%4.46

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$805.7M$1.05B$1.21B$968.0M$607.3M
Gross profit
Operating income$-57.4M$-20.2M$42.4M$188.4M$105.4M
Net income$-52.5M$-29.7M$14.8M$133.6M$79.3M
Diluted EPS$-0.67$-0.38$0.19$1.69$1.00

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$18.5M$12.8M$28.1M$49.5M$157.7M
Current assets$114.6M$129.4M$169.3M$229.8M$233.2M
Total assets$1.19B$1.33B$1.51B$1.67B$928.5M
Current liabilities$110.2M$119.6M$123.5M$156.8M$71.6M
Long-term debt$154.1M$191.7M$290.7M$399.1M$0
Total liabilities$436.3M$511.6M$644.4M$814.0M$201.4M
Total equity$755.3M$822.6M$865.3M$855.5M$727.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$89.3M$144.3M$165.3M$194.7M$123.4M
Capital expenditure$156.2M$109.5M$208.6M$160.6M$132.6M
Free cash flow$-66.9M$34.8M$-43.3M$34.1M$-9.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$184.1M-12.5%$10.6M$0.14
Q1 FY2026$176.3M-19.7%$-4.8M$-0.06
Q3 FY2025$196.5M-24.4%$-8.3M$-0.11
Q2 FY2025$210.4M-23.4%$-10.9M$-0.14
Q1 FY2025$219.4M-18.8%$-13.9M$-0.18
Q3 FY2024$259.9M-11.9%$-9.3M$-0.12
Q2 FY2024$274.8M-10.3%$-3.5M$-0.04
Q1 FY2024$270.3M-18.3%$-15.1M$-0.19

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorIndustrials
SIC industryTrucking (No Local)
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2002
SEC CIK799233

Selected SEC filings

10-K2026-03-03
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-11
View on EDGAR →
10-Q2025-11-10
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-17
View on EDGAR →
8-K2026-05-19
View on EDGAR →
8-K2026-05-15
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.