HTLD HEARTLAND EXPRESS INC

Overview and Growth

HEARTLAND EXPRESS INC generated $805.71M of revenue in fiscal 2025, with net loss of $52.45M and an operating cash inflow of $89.31M. Revenue of $805.71M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 23.1% below fiscal 2024 revenue of $1.05B, marking a top-line contraction. On a per-share basis, diluted EPS was -$0.67, which connects the reported earnings outcome with the company’s diluted share count. Total assets stood at $1.19B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.68x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The company recorded an operating loss of $57.41M after the reported operating expense base. An operating margin of -7.1% reflected costs exceeding revenue-level gross profit by 7.1% of sales. The company ended the period with a net loss of $52.45M, extending the operating result through all remaining items. Net margin was -6.5%, reflecting a loss equal to 6.5% of reported revenue. The company reported a pretax loss of $68.13M, before the effect of income taxes. The pretax loss equaled 8.5% of revenue, measuring the pre-tax deficit against sales. The company recognized an income-tax benefit of $15.68M, increasing after-tax earnings relative to the pretax result. Relative to period-end equity, the net loss represented 6.9%. The net loss equaled 4.4% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $29.72M in fiscal 2024 to $52.45M.

Liquidity and Capital Structure

At period end, the $1.19B asset base was financed through $436.30M of liabilities and $755.32M of equity. Current assets were $114.60M against $110.16M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.04x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $18.48M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 16.8%, excluding receivables and other current assets. Borrowings totaled $155.97M, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.21x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 13.1%, comparing borrowing with the total asset balance. Equity equaled 63.4% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 36.6%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 1.6% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 10.7% lower than fiscal 2024 assets of $1.33B, measuring the company’s own balance-sheet change. Reported equity changed 8.2% from $822.60M in fiscal 2024, placing the current capital base lower year over year. The reported cash balance changed 44.2% from $12.81M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported $89.31M of operating cash flow, a cash inflow that shows the cash generated by operations. The cash-flow statement records $156.17M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 174.9%, connecting investment intensity with the company’s cash-generation base. Negative free cash flow was $66.85M, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -8.3%, reflecting a cash deficit equal to 8.3% of revenue after capital spending. The free-cash-flow deficit equaled 5.6% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.