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Relative valuation derived from Industrials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
16.0%
Sector: 8.9%
Dividend Analysis audit
GROWTH
1.30%
Trailing Yield
$1.30
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
49%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, HUNT J B TRANSPORT SERVICES INC (JBHT) receives a "Hold" rating with a composite score of 52.3/100, ranked #782 out of 4446 stocks. Key factor scores: Quality 50/100, Value 60/100, Momentum 66/100. This is quantitative analysis only — not investment advice.
HUNT J B TRANSPORT SERVICES INC (JBHT) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does HUNT J B TRANSPORT SERVICES INC Do?
J.B. Hunt Transport Services, Inc. provides surface transportation, delivery, and logistic services in North America. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions. It operates 104,973 pieces of company-owned trailing equipment; owns and maintains its chassis fleet of 85,649 units; and manages a fleet of 5,612 company-owned tractors, 582 independent contractor trucks, and 6,943 company drivers. The DCS segment designs, develops, and executes supply chain solutions that support various transportation networks. As of December 31, 2021, it operated 11,139 company-owned trucks, 544 customer-owned trucks, and 6 contractor trucks. The company also operates 21,069 owned pieces of trailing equipment and 7,753 customer-owned trailers. The ICS segment provides freight brokerage and transportation logistics solutions; flatbed, refrigerated, expedited, and less-than-truckload, as well as dry-van and intermodal solutions; an online multimodal marketplace; and logistics management for customers to outsource the transportation functions. The FMS segment offers delivery services through 1,272 company-owned trucks, 272 customer-owned trucks, and 19 independent contractor trucks; and 1,036 owned pieces of trailing equipment and 185 customer-owned trailers. The JBT segment provides dry-van freight services by utilizing tractors and trailers operating over roads and highways through 734 company-owned tractors and 11,172 company-owned trailers. It also transports or arranges for the transportation of freight, such as general merchandise, specialty consumer items, appliances, forest and paper products, food and beverages, building materials, soaps and cosmetics, automotive parts, agricultural products, electronics, and chemicals. The company was incorporated in 1961 and is headquartered in Lowell, Arkansas. HUNT J B TRANSPORT SERVICES INC (JBHT) is classified as a large-cap stock in the Industrials sector, specifically within the Transportation industry. The company is led by CEO John N. Roberts and employs approximately 37,200 people, headquartered in Lowell, Arkansas. With a market capitalization of $20.2B, JBHT is one of the prominent companies in the Industrials sector.
HUNT J B TRANSPORT SERVICES INC (JBHT) Stock Rating — Hold (April 2026)
As of April 2026, HUNT J B TRANSPORT SERVICES INC receives a Hold rating with a composite score of 52.3/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.JBHT ranks #782 out of 4,446 stocks in our coverage universe. Within the Industrials sector, HUNT J B TRANSPORT SERVICES INC ranks #134 of 752 stocks, placing it in the top quartile of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
JBHT Stock Price and 52-Week Range
HUNT J B TRANSPORT SERVICES INC (JBHT) currently trades at $227.04. The stock gained $1.82 (0.8%) in the most recent trading session. The 52-week high for JBHT is $236.00, which means the stock is currently trading -3.8% from its annual peak. The 52-week low is $122.79, putting the stock 84.9% above its annual trough. Recent trading volume was 844K shares, suggesting relatively thin trading activity.
Is JBHT Overvalued or Undervalued? — Valuation Analysis
HUNT J B TRANSPORT SERVICES INC (JBHT) carries a value factor score of 60/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 37.33x, compared to the Industrials sector average of 28.33x — a premium of 32%. The price-to-book ratio stands at 5.96x, versus the sector average of 2.23x. The price-to-sales ratio is 1.78x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, JBHT trades at 13.57x EV/EBITDA, versus 5.70x for the sector. The EV/EBIT multiple is 26.63x.
Overall, JBHT's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
HUNT J B TRANSPORT SERVICES INC Profitability — ROE, Margins, and Quality Score
HUNT J B TRANSPORT SERVICES INC (JBHT) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 16.0%, compared to the Industrials sector average of 8.9%, which is within a healthy range. Return on assets (ROA) comes in at 7.2% versus the sector average of 3.3%.
On a margin basis, HUNT J B TRANSPORT SERVICES INC reports gross margins of 18.9%, compared to 35.8% for the sector. The operating margin is 7.0% (sector: 6.2%). Net profit margin stands at 4.7%, versus 3.9% for the average Industrials stock. Revenue growth is running at 4.2% on a trailing basis, compared to 6.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
JBHT Debt, Balance Sheet, and Financial Health
HUNT J B TRANSPORT SERVICES INC has a debt-to-equity ratio of 122.0%, compared to the Industrials sector average of 70.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 0.83x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $1.47B. Cash and equivalents stand at $52M.
JBHT has a beta of 0.98, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for HUNT J B TRANSPORT SERVICES INC is 62/100, reflecting average volatility within the normal range for its sector.
HUNT J B TRANSPORT SERVICES INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, HUNT J B TRANSPORT SERVICES INC reported revenue of $11.97B and earnings per share (EPS) of $6.16. Net income for the quarter was $569M. Gross margin was 18.9%. Operating income came in at $843M.
In FY 2025, HUNT J B TRANSPORT SERVICES INC reported revenue of $12.00B and earnings per share (EPS) of $6.16. Net income for the quarter was $598M. Revenue grew -0.7% year-over-year compared to FY 2024. Operating income came in at $865M.
In Q3 2025, HUNT J B TRANSPORT SERVICES INC reported revenue of $3.05B and earnings per share (EPS) of $1.78. Net income for the quarter was $171M. Revenue grew -0.5% year-over-year compared to Q3 2024. Operating income came in at $243M.
In Q2 2025, HUNT J B TRANSPORT SERVICES INC reported revenue of $2.93B and earnings per share (EPS) of $1.32. Net income for the quarter was $129M. Revenue grew -0.0% year-over-year compared to Q2 2024. Operating income came in at $197M.
Over the past 8 quarters, HUNT J B TRANSPORT SERVICES INC has demonstrated a growth trajectory, with revenue expanding from $2.93B to $11.97B. Investors analyzing JBHT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
JBHT Dividend Yield and Income Analysis
HUNT J B TRANSPORT SERVICES INC (JBHT) currently pays a dividend yield of 1.3%. At this yield, a $10,000 investment in JBHT stock would generate approximately $$130.00 in annual dividend income.
JBHT Momentum and Technical Analysis Profile
HUNT J B TRANSPORT SERVICES INC (JBHT) has a momentum factor score of 66/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 25/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
JBHT vs Competitors — Industrials Sector Ranking and Peer Comparison
Comparing JBHT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full JBHT vs S&P 500 (SPY) comparison to assess how HUNT J B TRANSPORT SERVICES INC stacks up against the broader market across all factor dimensions.
JBHT Next Earnings Date
No upcoming earnings date has been announced for HUNT J B TRANSPORT SERVICES INC (JBHT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy JBHT? — Investment Thesis Summary
HUNT J B TRANSPORT SERVICES INC presents a balanced picture with arguments on both sides. The value score of 60/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 66/100, suggesting the trend favors buyers. Low volatility (stability score 62/100) reduces downside risk.
In summary, HUNT J B TRANSPORT SERVICES INC (JBHT) earns a Hold rating with a composite score of 52.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on JBHT stock.
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Institutional Research Dossier
HUNT J B TRANSPORT SERVICES INC (JBHT) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
J.B. Hunt Transport Services, Inc. currently holds a 'Hold' rating, reflecting a balanced assessment of its operational strengths and potential headwinds. While the company demonstrates robust profitability metrics compared to the broader industrials sector, its valuation appears stretched, particularly when considering recent revenue growth deceleration. The 'Hold' rating acknowledges J.B. Hunt's established position in the transportation and logistics industry, but also factors in concerns regarding its debt levels and the cyclical nature of the freight market.
The company's diverse service offerings, spanning intermodal, dedicated contract services, and final mile delivery, provide a degree of resilience. However, the high capital intensity of the business and sensitivity to economic fluctuations warrant a cautious approach. Investors should closely monitor freight volumes, pricing trends, and the company's ability to manage its debt obligations in the face of potential economic slowdowns. The current valuation doesn't offer a significant margin of safety, justifying the neutral stance.
Business Strategy & Overview
J.B. Hunt operates as a comprehensive transportation and logistics solutions provider, primarily serving the North American market. The company's revenue streams are diversified across five key segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). This diversification allows J.B. Hunt to cater to a wide range of customer needs, from long-haul freight movement to specialized last-mile delivery services.
The Intermodal segment, a core component of J.B. Hunt's business, focuses on providing efficient and cost-effective transportation solutions by leveraging rail networks. This segment's strategy revolves around optimizing freight movement between rail and truck, reducing transit times and fuel consumption. The Dedicated Contract Services segment offers customized transportation solutions tailored to specific customer requirements, fostering long-term relationships and recurring revenue streams. This segment's focus is on designing and managing dedicated fleets for clients, ensuring reliable and consistent service.
The Integrated Capacity Solutions segment operates as a freight brokerage and logistics management provider, connecting shippers with carriers to facilitate transportation across various modes. This segment's strategy centers on leveraging technology and data analytics to optimize freight matching and pricing, enhancing efficiency and profitability. The Final Mile Services segment specializes in providing last-mile delivery solutions for e-commerce and retail customers, catering to the growing demand for timely and reliable delivery services. This segment's focus is on building a robust delivery network and utilizing technology to track and manage shipments in real-time.
The Truckload segment focuses on traditional over-the-road freight transportation, utilizing a fleet of company-owned tractors and trailers. This segment's strategy revolves around optimizing truck utilization and managing costs to maintain profitability in a competitive market. J.B. Hunt's strategic positioning involves leveraging its scale, technology, and diverse service offerings to provide comprehensive transportation solutions to its customers. The company's focus on innovation and efficiency allows it to compete effectively in the fragmented transportation and logistics industry.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
4.2%
Sector: 6.4%
-33% VS SCTR
Economic Moat Analysis
J.B. Hunt's economic moat can be classified as Narrow. While the company possesses certain competitive advantages, they are not insurmountable and are subject to industry cyclicality and competitive pressures. The primary sources of J.B. Hunt's moat stem from its scale, established relationships with rail providers, and its technology-driven logistics solutions.
The company's extensive network of intermodal transportation assets, including its large fleet of containers and chassis, provides a cost advantage over smaller competitors. This scale allows J.B. Hunt to negotiate favorable rates with rail providers and offer competitive pricing to its customers. Furthermore, the company's long-standing relationships with major rail carriers create a barrier to entry for new competitors seeking to establish intermodal operations.
J.B. Hunt's investment in technology and data analytics also contributes to its competitive advantage. The company's logistics management systems enable it to optimize freight routing, improve asset utilization, and provide real-time visibility to its customers. This technology-driven approach enhances efficiency and service quality, differentiating J.B. Hunt from less sophisticated competitors. However, the transportation and logistics industry is characterized by intense competition, with numerous players offering similar services. The ease of entry into certain segments, such as freight brokerage, limits J.B. Hunt's ability to command premium pricing or generate consistently high returns.
Moreover, the cyclical nature of the freight market poses a challenge to J.B. Hunt's moat. During economic downturns, freight volumes decline, leading to increased competition and pricing pressure. This cyclicality can erode J.B. Hunt's profitability and weaken its competitive position. While J.B. Hunt's scale and technology provide some degree of protection, they are not sufficient to insulate the company from the effects of economic cycles. Therefore, while J.B. Hunt possesses a narrow economic moat, it is not a wide moat that would guarantee sustained competitive advantages and superior returns over the long term.
Financial Health & Profitability
J.B. Hunt's financial health presents a mixed picture. While the company demonstrates strong profitability metrics compared to the industrials sector, its balance sheet leverage and recent revenue growth deceleration warrant careful consideration. The company's revenue has shown growth, but the rate has fluctuated. The TTM revenue is $12.00B, slightly lower than the $12.09B in FY2024 and significantly lower than the $12.83B in FY2023, indicating a recent slowdown.
Profitability metrics, such as ROE (16.0%) and operating margin (7.0%), are favorable compared to the sector averages of 9.2% and 6.2%, respectively. This suggests that J.B. Hunt is effectively managing its operations and generating returns on its equity. However, the gross margin of 18.9% is significantly lower than the sector average of 35.8%, indicating potential cost pressures or a different business mix compared to its peers.
The company's balance sheet reveals a relatively high level of debt. The debt-to-equity ratio of 122.00 is considerably higher than the sector average of 70.00, indicating a greater reliance on debt financing. While the company generates substantial free cash flow ($1.08B TTM), the high debt level could pose a risk if economic conditions deteriorate and freight volumes decline. The current ratio of 0.83 indicates that current liabilities exceed current assets, which could create short-term liquidity challenges.
Analyzing the quarterly financial history reveals a trend of declining net income and EPS. The net income for FY2025 is $598.28M, lower than the $728.29M in FY2023. Similarly, the EPS for FY2025 is $6.12, lower than the $6.97 in FY2023. This decline in profitability, coupled with the high debt level, raises concerns about the company's financial health. While J.B. Hunt's strong profitability metrics provide some cushion, the high debt and declining earnings trend warrant a cautious approach.
Valuation Assessment
J.B. Hunt's valuation appears stretched relative to its growth prospects and historical performance. The company's P/E ratio of 32.5x is higher than the industrials sector average of 27.7x, suggesting that investors are paying a premium for its earnings. While the company's EV/EBITDA multiple of 3.0x is lower than the sector average of 5.7x, this may reflect the company's high debt levels, which can depress the EV/EBITDA ratio.
Considering the company's recent revenue growth deceleration, the high P/E ratio is particularly concerning. The company's revenue growth of 4.2% is lower than the sector average of 6.6%, indicating that its growth prospects may be limited. A high P/E ratio is typically justified by strong growth expectations, but in J.B. Hunt's case, the growth rate does not appear to support the premium valuation.
Furthermore, the company's free cash flow yield, while positive, is not particularly compelling. The free cash flow of $1.08B translates to a free cash flow yield of approximately 5.7%, based on the company's market capitalization of $18.91B. This yield is not high enough to compensate for the risks associated with the company's high debt levels and cyclical business. A more attractive valuation would offer a higher free cash flow yield to provide a greater margin of safety.
Overall, J.B. Hunt's valuation appears to be at the higher end of its historical range. The company's P/E ratio is elevated, and its growth prospects are uncertain. While the company's strong profitability metrics provide some support for its valuation, the high debt levels and cyclical nature of the business warrant a more conservative approach. The current valuation does not offer a significant margin of safety, suggesting that the stock is fairly valued to slightly overvalued.
Risk & Uncertainty
J.B. Hunt faces several specific risks that could negatively impact its business and financial performance. One of the most significant risks is the cyclical nature of the freight market. Economic downturns can lead to a decline in freight volumes, resulting in increased competition and pricing pressure. This cyclicality can erode J.B. Hunt's profitability and weaken its competitive position.
Another key risk is the company's high debt levels. The debt-to-equity ratio of 122.00 is considerably higher than the sector average, indicating a greater reliance on debt financing. This high debt level could pose a risk if economic conditions deteriorate and freight volumes decline. The company may struggle to meet its debt obligations, potentially leading to financial distress.
Competition within the transportation and logistics industry is also a significant risk. The industry is highly fragmented, with numerous players offering similar services. This intense competition can put pressure on pricing and margins, making it difficult for J.B. Hunt to maintain its profitability. Furthermore, the rise of new technologies and business models, such as digital freight brokerages, could disrupt the industry and challenge J.B. Hunt's competitive position.
Regulatory risks also pose a threat to J.B. Hunt's business. Changes in regulations related to driver hours of service, safety standards, and environmental compliance could increase the company's operating costs and reduce its profitability. Furthermore, potential changes in trade policies could impact freight volumes and disrupt supply chains, negatively affecting J.B. Hunt's business.
Bulls Say / Bears Say
The Bull Case
BULL VIEWJ.B. Hunt's intermodal segment is well-positioned to benefit from the long-term shift towards more sustainable and cost-effective transportation solutions, driving revenue growth and market share gains.
BULL VIEWThe company's investments in technology and logistics management systems will enhance efficiency, improve customer service, and create a competitive advantage over less sophisticated competitors, leading to higher margins.
The Bear Case
BEAR VIEWJ.B. Hunt's high debt levels expose the company to significant financial risk in the event of an economic downturn or a decline in freight volumes, potentially leading to a credit downgrade and increased borrowing costs.
BEAR VIEWThe cyclical nature of the freight market and intense competition within the transportation industry will limit J.B. Hunt's ability to sustain its current profitability levels, resulting in lower earnings and a de-rating of its stock.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score JBHT and 4,400+ other equities.
HUNT J B TRANSPORT SERVICES INC exhibits a 148% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
7.2%
Sector: 3.3%
Gross Margin
Pricing power and cost efficiency
18.9%
Sector: 35.8%
Operating Margin
Core business profitability
7.0%
Sector: 6.2%
Net Margin
Bottom-line profitability
4.7%
Sector: 3.9%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $130 annually in dividends at the current trailing rate.
