Latest Ratios: P/E Ratio 38.3x · EV/EBITDA 15.2x · ROE 15.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.1B | $19.0B | $17.5B | $20.9B | $18.4B | $21.8B | $14.6B | $12.6B | $10.3B | $12.8B | $11.0B |
| Enterprise Value | $24.0B | $20.9B | $19.3B | $22.7B | $19.9B | $22.9B | $15.7B | $14.0B | $11.4B | $13.8B | $12.0B |
| P/E Ratio → | 38.34 | 31.75 | 30.69 | 28.66 | 18.93 | 28.63 | 28.83 | 24.48 | 21.00 | 18.61 | 25.48 |
| P/S Ratio | 1.84 | 1.58 | 1.45 | 1.63 | 1.24 | 1.79 | 1.51 | 1.38 | 1.19 | 1.78 | 1.68 |
| P/B Ratio | 6.43 | 5.33 | 4.37 | 5.08 | 5.01 | 6.99 | 5.61 | 5.58 | 4.89 | 6.94 | 7.78 |
| P/FCF | 23.35 | 20.03 | 28.39 | — | 77.75 | 78.84 | 37.96 | 51.79 | 111.44 | 38.90 | 51.01 |
| P/OCF | 13.18 | 11.31 | 11.82 | 11.96 | 10.33 | 17.80 | 12.99 | 11.52 | 9.44 | 14.93 | 12.88 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.74 | 1.59 | 1.77 | 1.34 | 1.88 | 1.63 | 1.53 | 1.33 | 1.92 | 1.83 |
| EV / EBITDA | 15.19 | 13.20 | 12.11 | 13.13 | 10.06 | 14.30 | 12.67 | 11.38 | 10.22 | 13.74 | 11.07 |
| EV / EBIT | 27.74 | 24.11 | 22.99 | 22.72 | 14.91 | 21.91 | 22.03 | 19.08 | 16.76 | 22.18 | 16.62 |
| EV / FCF | — | 22.01 | 31.21 | — | 84.19 | 82.93 | 40.90 | 57.46 | 123.83 | 42.16 | 55.55 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.3% | 13.3% | 17.1% | 17.2% | 16.7% | 15.4% | 15.0% | 16.4% | 15.8% | 16.7% | 18.1% |
| Operating Margin | 7.2% | 7.2% | 6.9% | 7.7% | 9.0% | 8.6% | 7.4% | 8.0% | 7.9% | 8.7% | 11.0% |
| Net Profit Margin | 5.0% | 5.0% | 4.7% | 5.7% | 6.5% | 6.3% | 5.3% | 5.6% | 5.7% | 9.5% | 6.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.8% | 15.8% | 14.1% | 18.7% | 28.6% | 26.6% | 20.8% | 23.6% | 24.8% | 42.2% | 31.8% |
| ROA | 7.2% | 7.2% | 6.6% | 8.7% | 13.0% | 11.7% | 8.8% | 9.8% | 10.4% | 16.8% | 11.6% |
| ROIC | 11.6% | 11.6% | 10.6% | 13.3% | 21.2% | 19.7% | 14.5% | 16.0% | 16.6% | 17.6% | 23.1% |
| ROCE | 13.3% | 13.3% | 11.7% | 14.4% | 22.8% | 20.5% | 15.1% | 18.0% | 19.0% | 19.0% | 23.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.45 | 0.47 | 0.43 | 0.48 | 0.55 | 0.63 | 0.55 | 0.59 | 0.70 |
| Debt / EBITDA | 1.20 | 1.20 | 1.12 | 1.11 | 0.80 | 0.93 | 1.16 | 1.15 | 1.03 | 1.08 | 0.91 |
| Net Debt / Equity | — | 0.52 | 0.43 | 0.46 | 0.41 | 0.36 | 0.43 | 0.61 | 0.54 | 0.58 | 0.69 |
| Net Debt / EBITDA | 1.18 | 1.18 | 1.09 | 1.08 | 0.77 | 0.70 | 0.91 | 1.12 | 1.02 | 1.06 | 0.91 |
| Debt / FCF | — | 1.97 | 2.82 | — | 6.44 | 4.08 | 2.93 | 5.67 | 12.38 | 3.26 | 4.54 |
| Interest Coverage | 12.19 | 12.19 | 10.61 | 15.18 | 26.00 | 22.62 | 15.00 | 13.45 | 16.85 | 21.68 | 28.51 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.83 | 0.83 | 1.06 | 1.35 | 1.41 | 1.33 | 1.70 | 1.43 | 1.11 | 1.33 | 1.36 |
| Quick Ratio | 0.81 | 0.81 | 1.03 | 1.32 | 1.38 | 1.32 | 1.68 | 1.41 | 1.10 | 1.30 | 1.33 |
| Cash Ratio | 0.01 | 0.01 | 0.03 | 0.04 | 0.03 | 0.21 | 0.29 | 0.03 | 0.01 | 0.02 | 0.01 |
| Asset Turnover | — | 1.47 | 1.42 | 1.46 | 1.85 | 1.75 | 1.59 | 1.68 | 1.69 | 1.65 | 1.71 |
| Inventory Turnover | 246.45 | 246.45 | 240.60 | 251.73 | 303.96 | 411.41 | 343.92 | 362.88 | 330.15 | 289.55 | 289.06 |
| Days Sales Outstanding | — | 41.37 | 44.75 | 44.56 | 45.80 | 51.69 | 49.63 | 40.30 | 56.19 | 61.14 | 52.06 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.9% | 1.0% | 0.8% | 0.9% | 0.6% | 0.8% | 0.9% | 1.0% | 0.8% | 0.9% |
| Payout Ratio | 28.6% | 28.6% | 30.7% | 23.9% | 17.2% | 16.4% | 22.6% | 21.7% | 21.4% | 14.8% | 22.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 3.1% | 3.3% | 3.5% | 5.3% | 3.5% | 3.5% | 4.1% | 4.8% | 5.4% | 3.9% |
| FCF Yield | 4.3% | 5.0% | 3.5% | — | 1.3% | 1.3% | 2.6% | 1.9% | 0.9% | 2.6% | 2.0% |
| Buyback Yield | 4.3% | 5.0% | 3.1% | 0.9% | 1.8% | 0.8% | 0.8% | 2.3% | 1.7% | 1.6% | 2.4% |
| Total Shareholder Yield | 5.0% | 5.9% | 4.1% | 1.8% | 2.7% | 1.4% | 1.6% | 3.2% | 2.7% | 2.3% | 3.3% |
| Shares Outstanding | — | $98M | $103M | $104M | $105M | $107M | $107M | $108M | $110M | $111M | $113M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying JBHT stock.
J.B. Hunt Transport Services, Inc.'s current P/E ratio is 38.3x. The historical average is 24.3x. This places it at the 97th percentile of its historical range.
J.B. Hunt Transport Services, Inc.'s current EV/EBITDA is 15.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.2x.
J.B. Hunt Transport Services, Inc.'s return on equity (ROE) is 15.8%. The historical average is 24.2%.
Based on historical data, J.B. Hunt Transport Services, Inc. is trading at a P/E of 38.3x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
J.B. Hunt Transport Services, Inc.'s current dividend yield is 0.75% with a payout ratio of 28.6%.
J.B. Hunt Transport Services, Inc. has 13.3% gross margin and 7.2% operating margin.
J.B. Hunt Transport Services, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Margin volatility and leverage
Metrics are mathematically derived from official filings.
Margin Volatility Masks Underlying Stability
JBHT's gross margin swung from 28.3% in 2026Q1 to 10.1% in 2026Q2, per reported financials, yet operating margin held near 7%, suggesting cost pass-through variability rather than core deterioration.
The dramatic gross margin swing appears tied to fuel surcharge timing and intermodal rate adjustments, not a collapse in pricing power. Operating margin has remained within a 6.1%-8.0% band over the past ten quarters, indicating that JBHT's core earnings power is more stable than the gross margin volatility implies. Net margin, at 5.2% in 2026Q2, trails ODFL's 18.6% but exceeds CHRW's 3.6%, reflecting JBHT's asset-heavy model versus pure brokerage peers.
Return on Capital Trails Asset-Heavy Peers
ROIC improved to 4.0% in 2026Q2 from 2.5% in 2024Q1, per balance sheet data, but remains below ODFL's 23.6% and CHRW's 18.0%, indicating structural capital intensity.
JBHT's ROIC is recovering as capex normalizes, but the absolute level remains low relative to less asset-intensive competitors. The improvement is driven by margin stabilization and a shrinking asset base, not by efficiency gains, as asset turnover has only inched up from 0.34 to 0.44. This suggests JBHT's returns are constrained by its fleet and terminal investments, which may limit long-term compounding unless utilization improves.
Working Capital Efficiency Shows Mixed Signals
DSO improved to 36 days in 2026Q2 from 44 days in 2024Q1, per reported figures, while DPO fell to 22 days, compressing the cash conversion cycle and signaling tighter supplier terms.
The faster collection of receivables is a positive, but the reduction in days payable outstanding suggests JBHT is paying suppliers more quickly, which may reflect a shift in carrier mix or negotiated terms. The cash conversion cycle, when calculable, has been positive (17-18 days), indicating JBHT funds its working capital needs internally. However, the lack of DIO data for most quarters limits a full assessment of inventory efficiency, which is less relevant for a service-based logistics provider.
Leverage Eases but Refinancing Risk Persists
D/EBITDA fell to 2.60 in 2026Q2 from 4.44 in 2025Q4, per financial statements, while interest coverage improved to 15.47, indicating a more comfortable debt service position.
The deleveraging is driven by EBITDA growth and debt reduction, but the spike in debt to $1.9B in 2025Q4 highlights periodic refinancing needs. Interest coverage, though improved, remains below the 18.67 peak in 2025Q4, and the current ratio of 1.26 suggests adequate but not ample liquidity. Investors should monitor whether JBHT can sustain this leverage reduction without sacrificing capex or shareholder returns.
Liquidity Tightens as Cash Reserves Dwindle
Cash fell to $4.2M in 2026Q2 from $64.2M in 2024Q1, per balance sheet data, while the current ratio held at 1.26, indicating a thinner cash buffer against operational shocks.
The near-zero cash balance is concerning, but JBHT's consistent operating cash flow (averaging 2.7x net income) provides a recurring source of liquidity. The current ratio, though stable, is below the 1.26 level seen in early 2024, and the quick ratio mirrors it, suggesting minimal inventory cushion. Under a severe freight downturn, JBHT may need to draw on credit lines or reduce buybacks to maintain liquidity, which could pressure the balance sheet.
P/E Misleads in Cyclical Freight
JBHT's trailing P/E of 43.49, per valuation data, appears rich, but forward P/E of 33.96 and EV/EBITDA of 17.07 suggest the market is pricing a cyclical recovery, not structural growth.
The P/E ratio is commonly misapplied to asset-heavy logistics firms because earnings are highly cyclical and sensitive to freight rates. A more appropriate metric is EV/EBITDA, which normalizes for capital structure and depreciation differences. JBHT's forward EV/EBITDA of 14.82 is below its trailing 17.07, indicating the market expects EBITDA growth, but it still exceeds peers like KNX (13.23) and WERN (8.12), suggesting a premium that may not be justified if the recovery stalls. Investors should focus on normalized earnings power rather than trailing P/E.