Revenue growth has exhibited significant volatility, ranging from a 10.4% expansion in 2025Q3 to a 0.2% contraction in 2026Q1, while operating margins remain stuck in the low single digits.
| Sales/Revenue | 5.67B | 5.67B | 5.29B | 5.5B | 6.6B | 5.61B | 4.55B | 4.75B | 4.98B | 4.38B | 4.05B | 3.96B | 3.94B |
| Revenue Growth % | 5.54% | 7.25% | -3.79% | -16.74% | 17.75% | 23.19% | -4.09% | -4.62% | 13.54% | 8.35% | 2.18% | 0.48% | - |
| Cost of Goods Sold | 4.38B | 5.37B | 4.85B | 4.94B | 5.68B | 4.85B | 4.07B | 4.22B | 4.35B | 3.91B | 3.56B | 3.49B | 3.54B |
| COGS % of Revenue | - | 94.68% | 91.66% | 89.83% | 86.06% | 86.42% | 89.44% | 88.8% | 87.46% | 89.13% | 88.1% | 88.04% | 89.94% |
| Gross Profit | 1.3B | 302.1M | 441.1M | 559.4M | 920.5M | 761.5M | 480.6M | 531.8M | 624.3M | 476.4M | 481.62M | 473.46M | 396.3M |
| Gross Margin % | 22.85% | 5.32% | 8.34% | 10.17% | 13.94% | 13.58% | 10.56% | 11.2% | 12.54% | 10.87% | 11.9% | 11.96% | 10.06% |
| Gross Profit Growth % | - | -31.51% | -21.15% | -39.23% | 20.88% | 58.45% | -9.63% | -14.82% | 31.05% | -1.08% | 1.72% | 19.47% | - |
| Operating Expenses | 831.1M | 133.2M | 275.9M | 263M | 320.1M | 227.8M | 193.9M | 324M | 246.5M | 196.1M | 191.21M | 207.18M | 156.95M |
| OpEx % of Revenue | - | 2.35% | 5.21% | 4.78% | 4.85% | 4.06% | 4.26% | 6.83% | 4.95% | 4.47% | 4.73% | 5.23% | 3.98% |
| Selling, General & Admin | 202.7M | 133.2M | 275.9M | 263M | 320.1M | 217.2M | 192.9M | 225.7M | 246.5M | 196.1M | 191.21M | 207.18M | 156.95M |
| SG&A % of Revenue | - | 2.35% | 5.21% | 4.78% | 4.85% | 3.87% | 4.24% | 4.75% | 4.95% | 4.47% | 4.73% | 5.23% | 3.98% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27.9M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | 0.71% |
| Other Operating Expenses | 2M | 0 | 0 | 0 | 0 | 10.6M | 1M | 98.3M | 1.3M | 500K | 0 | 0 | -1.76M |
| Operating Income | 160.2M | 168.9M | 165.2M | 296.4M | 600.4M | 533.7M | 286.7M | 207.8M | 375.8M | 280.3M | 290.4M | 260.24M | 239.35M |
| Operating Margin % | 2.82% | 2.98% | 3.12% | 5.39% | 9.09% | 9.52% | 6.3% | 4.38% | 7.55% | 6.39% | 7.18% | 6.57% | 6.07% |
| Operating Income Growth % | - | 2.24% | -44.26% | -50.63% | 12.5% | 86.15% | 37.97% | -44.7% | 34.07% | -3.48% | 11.59% | 8.73% | - |
| EBITDA | 607.5M | 618.9M | 578.9M | 685.9M | 950.4M | 829.9M | 577.2M | 500.7M | 667.1M | 559.3M | 556.44M | 496.57M | 469.36M |
| EBITDA Margin % | 10.71% | 10.91% | 10.94% | 12.47% | 14.39% | 14.8% | 12.68% | 10.55% | 13.4% | 12.76% | 13.75% | 12.54% | 11.91% |
| EBITDA Growth % | 0.73% | 6.91% | -15.6% | -27.83% | 14.52% | 43.78% | 15.28% | -24.94% | 19.27% | 0.51% | 12.06% | 5.8% | - |
| D&A (Non-Cash Add-back) | 447.3M | 450M | 413.7M | 389.5M | 350M | 296.2M | 290.5M | 292.9M | 291.3M | 279M | 266.03M | 236.33M | 230.01M |
| EBIT | 129.2M | 171.8M | 168.8M | 320.3M | 613.6M | 554.5M | 296.5M | 214.7M | 381.7M | 282.8M | 286.97M | 257.32M | 239.35M |
| Net Interest Income | -21.7M | -27.9M | -12.3M | -7.2M | -6.7M | -10.4M | -10.3M | -8.1M | -12.5M | -17.4M | -21.4M | -18.7M | -11.73M |
| Interest Income | 2.8M | 5.9M | 4.3M | 7M | 2.9M | 2.1M | 3.3M | 8.5M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 33M | 33.8M | 16.6M | 14.2M | 9.6M | 12.5M | 13.6M | 16.6M | 12.5M | 17.4M | 21.4M | 18.7M | 11.73M |
| Other Income/Expense | -29.8M | -30.9M | -13M | 9.7M | 3.6M | 8.3M | -3.8M | -9.7M | -11.2M | -16.9M | -24.8M | -21.5M | -13.49M |
| Pretax Income | 130.4M | 138M | 152.2M | 306.1M | 604M | 542M | 282.9M | 198.1M | 364.6M | 263.4M | 265.6M | 238.72M | 225.86M |
| Pretax Margin % | 2.3% | 2.43% | 2.88% | 5.57% | 9.15% | 9.66% | 6.21% | 4.17% | 7.33% | 6.01% | 6.56% | 6.03% | 5.73% |
| Income Tax | 32.5M | 34.4M | 35.2M | 67.6M | 146.2M | 136.6M | 71.2M | 51.1M | 95.7M | -126.5M | 108.75M | 97.79M | 92.3M |
| Effective Tax Rate % | 24.92% | 24.93% | 23.13% | 22.08% | 24.21% | 25.2% | 25.17% | 25.8% | 26.25% | -48.03% | 40.94% | 40.96% | 40.86% |
| Net Income | 97.9M | 103.6M | 117M | 238.5M | 457.8M | 405.4M | 211.7M | 147M | 268.9M | 389.9M | 156.85M | 140.93M | 133.57M |
| Net Margin % | 1.73% | 1.83% | 2.21% | 4.34% | 6.93% | 7.23% | 4.65% | 3.1% | 5.4% | 8.89% | 3.88% | 3.56% | 3.39% |
| Net Income Growth % | -21.43% | -11.45% | -50.94% | -47.9% | 12.93% | 91.5% | 44.01% | -45.33% | -31.03% | 148.58% | 11.3% | 5.51% | - |
| Net Income (Continuing) | 97.9M | 103.6M | 117M | 238.5M | 457.8M | 405.4M | 211.7M | 147M | 268.9M | 389.9M | 156.85M | 140.93M | 133.57M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.56 | 0.59 | 0.66 | 1.34 | 2.56 | 2.28 | 1.19 | 0.83 | 1.52 | 2.28 | 0.90 | 0.81 | 0.77 |
| EPS Growth % | -21.13% | -10.61% | -50.75% | -47.66% | 12.28% | 91.6% | 43.37% | -45.39% | -33.33% | 153.33% | 11.11% | 5.19% | - |
| EPS (Basic) | - | 0.59 | 0.67 | 1.35 | 2.57 | 2.28 | 1.19 | 0.83 | 1.52 | 2.28 | 0.90 | 0.81 | 0.77 |
| Diluted Shares Outstanding | 175.9M | 175.9M | 176.1M | 178.2M | 178.8M | 178.1M | 177.6M | 177.3M | 177.2M | 171.3M | 173.54M | 173.54M | 173.54M |
| Basic Shares Outstanding | 175.1M | 175.2M | 175.5M | 177.3M | 177.9M | 177.6M | 177.3M | 177.1M | 177M | 171.1M | 173.54M | 173.54M | 173.54M |
| Dividend Payout Ratio | - | 64.67% | 56.92% | 26.67% | 12.17% | 12.23% | 188.95% | 28.91% | 15.14% | 6.54% | 19.93% | 17.85% | 15.5% |
Persistent freight market overcapacity
As reported in recent financial statements, Schneider National's revenue growth has exhibited a volatile trajectory, fluctuating between a 10.4% expansion in 2025Q3 and a 0.2% contraction in 2026Q1, reflecting the broader sensitivity of the North American freight market to industrial production and inventory cycles.
The recent deceleration in revenue growth suggests that the company is struggling to maintain pricing power in a soft freight environment. Investors should monitor whether the strategic shift toward the CPKC rail partnership can effectively capture north-south trade volumes to offset domestic weakness.
Based on reported figures, Schneider's gross margin has experienced significant volatility, ranging from a low of 4.5% in 2024Q1 to a recent peak of 37.6% in 2026Q1, though this spike warrants further investigation into potential accounting reclassifications or non-recurring items impacting the cost of goods sold.
The thin operating margins, consistently hovering near 2-3%, underscore the commodity-like nature of the truckload business and the difficulty of passing through inflationary driver costs. The lack of consistent margin expansion suggests that the company remains highly vulnerable to fuel price volatility and empty-mile inefficiencies.
According to recent SEC filings, Schneider's operating income has failed to scale meaningfully with revenue, as evidenced by an operating margin that remains stuck in the low single digits, suggesting that fixed costs continue to exert significant pressure on the company's bottom-line profitability during downturns.
The inability to achieve operating leverage indicates that the company's high-fixed-cost model, driven by equipment depreciation and labor, is not yet optimized for current demand levels. This suggests that management may need to accelerate technology-driven efficiency gains to improve the operating ratio.
As indicated by the data, the sharp decline in EPS growth from 50% in 2025Q1 to a 20% contraction in 2026Q1 highlights the fragility of the company's earnings, which appear highly susceptible to the persistent overcapacity currently plaguing the US truckload market and resetting contract rates.
Short-sellers may focus on the potential for further margin compression if the company cannot successfully navigate the ongoing reset in freight rates. The reliance on self-insurance reserves and equipment sales gains suggests that reported net income may be masking underlying operational challenges that warrant close scrutiny.
Quick answers to the most common questions about buying SNDR stock.
For fiscal year 2025, Schneider National, Inc. (SNDR) reported total revenue of $5.67B. This represents a 44.0% increase compared to $3.94B in 2014.
Schneider National, Inc. (SNDR) is profitable, generating $103.6M in net income for the fiscal year ending 2025 with a net profit margin of 1.8%.
Schneider National, Inc. (SNDR) reported an operating income of $168.9M, resulting in an operating profit margin of 3.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Schneider National, Inc. (SNDR) generated $302.1M in gross profit for the year, representing a gross profit margin of 5.3%. This demonstrates the company's core pricing power and production efficiency.