LSTR on Nasdaq

Landstar System

Logo: Landstar System, Public domain, via Wikimedia Commons5

American transportation services company

Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, and other countries around the world.3 It is headquartered in Jacksonville.1 Its shares trade on Nasdaq under the symbol LSTR.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

1988Founded1

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  • TickerLSTR on Nasdaq1
  • Industrytransport1
  • HeadquartersJacksonville1
  • Websitewww.landstar.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address13410 Sutton Park Drive South, Jacksonville, Fl 322246
  • Filer categoryLarge accelerated filer6
  • LEI254900CUQXQRL09MEI524
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 22514604

Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, and other countries around the world.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

3.2%Operating margin9
2.4%Net margin9
-1.6%Revenue growth, 20259
14.5%Return on equity9
0.00×Debt to equity9
$215.0MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Transportation Logistics brought in 99% of the revenue Landstar System broke down this way in fiscal 2025.

  1. Transportation Logistics$4.7B999%down 1% from 2024
  2. Insurance$58.6M91%down 7% from 2024
Business segments by year
Business segments202320242025
Transportation Logistics$5.2B$4.8B$4.7B
Insurance$72.5M$63.2M$58.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin5¢$230.5M
  • Other costs92¢$4.4B
  • Interest0¢$5.6M
  • Income tax1¢$35.6M
  • Profit2¢$115.0M

Out of $4.7B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending3¢$9.9M
  • Dividends paid40¢$124.8M
  • Share buybacks57¢$179.9M

Out of $224.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue101112139$4.7B in 2025+16% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $4.1B$4.1B20192020: $4.1B$4.1B2020+1%2021: $6.5B$6.5B2021+58%2022: $7.4B$7.4B2022+14%2023: $5.3B$5.3B2023−29%2024: $4.8B$4.8B2024−9%2025: $4.7B$4.7B2025−2%
Operating income101112139$151.6M in 2025−49% since 2019
0$200.0M$400.0M$600.0M2019: $298.9M$298.9M20192020: $252.9M$252.9M2020−15%2021: $505.7M$505.7M2021+100%2022: $571.1M$571.1M2022+13%2023: $344.1M$344.1M2023−40%2024: $248.9M$248.9M2024−28%2025: $151.6M$151.6M2025−39%
Net income101112139$115.0M in 2025−49% since 2019
0$200.0M$400.0M$600.0M2019: $227.7M$227.7M20192020: $192.1M$192.1M2020−16%2021: $381.5M$381.5M2021+99%2022: $430.9M$430.9M2022+13%2023: $264.4M$264.4M2023−39%2024: $195.9M$195.9M2024−26%2025: $115.0M$115.0M2025−41%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Revenue$4.7B$4.8B$5.3B
Investment income$13.7M$14.8M$10.1M
Purchased transportation$3.7B$3.7B$4.1B
Commissions to agents$387.4M$392.8M$462.7M
Other operating costs, net of gains on asset sales/dispositions$61.6M$58.8M$54.2M
Insurance and claims$159.4M$113.9M$114.2M
Selling, general and administrative$230.5M$217.7M$211.8M
Depreciation and amortization$46.4M$56.7M$58.2M
Impairment of intangible and other assets$32.2M$0$0
Total costs and expenses$4.6B$4.6B$5.0B
Operating income$151.6M$248.9M$344.1M
Interest and debt expense (income)$996.0K-$5.4M-$3.9M
Income before income taxes$150.6M$254.3M$348.1M
Income taxes$35.6M$58.4M$83.7M
Net income$115.0M$195.9M$264.4M
Basic earnings per share$3.31$5.51$7.36
Diluted earnings per share$3.31$5.51$7.36
Average basic shares outstanding34.7M shares35.5M shares35.9M shares
Average diluted shares outstanding34.7M shares35.5M shares35.9M shares
Dividends per common share$3.56$3.38$3.26

Compare Landstar System with another company

Corporate structure

Landstar System sits at the top of its group. 21 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Landstar System

  • Landstar System Jacksonville, Florida, United States
    • Landstar Blue LLC Subsidiary · Delaware, United States
    • Landstar Canada Holdings, Inc. Subsidiary · Delaware, United States
    • Landstar Canada, Inc. Subsidiary · Ontario, Canada
    • Landstar Contractor Financing, Inc. Subsidiary · Delaware, United States
    • Landstar Express America, Inc. Subsidiary · Delaware, United States
    • Landstar Gemini, Inc. Subsidiary · Delaware, United States
    • Landstar Global Logistics, Inc. Subsidiary · Delaware, United States
    • Landstar Holdings, S. de R.L.C.V. Subsidiary · Mexico
    • Landstar Investment Holdco, LLC Subsidiary · Delaware, United States
    • Landstar Inway, Inc. Subsidiary · Delaware, United States
    • Landstar Ligon, Inc. Subsidiary · Delaware, United States
    • Landstar Metro, S.A.P.I. de C.V. Subsidiary · Mexico
    • Landstar MH I LLC Subsidiary · Delaware, United States
    • Landstar MH II LLC Subsidiary · Delaware, United States
    • Landstar Ranger, Inc. Subsidiary · Delaware, United States
    • Landstar System Holdings, Inc. Subsidiary · Delaware, United States
    • Landstar Transfronteras LLC Subsidiary · Delaware, United States
    • Landstar Transportation Logistics, Inc. Subsidiary · Delaware, United States
    • Risk Management Claim Services, Inc. Subsidiary · Delaware, United States
    • Signature Insurance Company Subsidiary · Cayman Islands

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Landstar System reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$17.4M9 Dec 27, 2025$17.4M9 Dec 28, 20240%
Buildings and improvements$81.0M9 Dec 27, 2025$80.7M9 Dec 28, 2024+0.4%
Property and equipment, before depreciation$735.0M9 Dec 27, 2025$767.9M9 Dec 28, 2024−4.3%
Accumulated depreciation$473.6M9 Dec 27, 2025$456.5M9 Dec 28, 2024+3.7%
Property and equipment, net$261.3M9 Dec 27, 2025$311.3M9 Dec 28, 2024−16.1%
Finance-lease assets$108.4M9 Dec 27, 2025$131.8M13 Dec 28, 2024−17.7%
Operating-lease assets (leased space)$615.0K9 Dec 27, 2025$1.1M13 Dec 28, 2024−42.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$396.7M9 Dec 27, 2025$515.0M9 Dec 28, 2024−23.0%
Marketable securities, current$55.5M9 Dec 27, 2025$51.6M9 Dec 28, 2024+7.6%
Debt securities available for sale$147.0M9 Dec 27, 2025$143.9M9 Dec 28, 2024+2.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$34.0M9 Dec 27, 2025$40.9M9 Dec 28, 2024−16.9%

Properties, in its own words

Properties

The Company owns or leases various properties in the U.S., Canada and Mexico for the Company’s operations and administrative staff that support its independent commission sales agents, BCO Independent Contractors and other third party capacity providers. The transportation logistics segment’s primary facilities are located in Jacksonville, Florida and Rockford, Illinois. In addition, the Company’s corporate headquarters are located in Jacksonville, Florida. The Company also maintains a key freight staging and transload facility in Laredo, Texas. The Jacksonville, Florida, Rockford, Illinois and Laredo, Texas facilities are owned by the Company. The Company also maintains a network of owned and leased field operations centers in the United States and Canada in support of the ongoing recruitment and retention of its BCO Independent Contractors. Management believes that Landstar’s owned and leased properties are adequate for its current needs and that leased properties can be retained or replaced at an acceptable cost.

Item 2 of the 10-K filed Feb 24, 2026.18

The story

Landstar has been in business since 1968 and was incorporated in 1991.

In January 2014, Landstar sold its National Logistics Management (NLM) subsidiary to XPO, Inc. for $87m. Using proprietary web-based software to provide management services for customers and carriers, NLM became the largest web-based expediter in North America.

In January 2017, Landstar opened its Landstar U.S./Mexico Logistics Service Center in Laredo, Texas.

From Wikipedia’s article on Landstar System, shared under CC BY-SA 4.0.7

Leadership

Who has led Landstar System, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (32)

Products and brands

Landstar System is based in Jacksonville, Florida. The company includes over 8,800 owner-operators in the United States, Canada and Mexico. The business capacity operators (BCOs) are not forced to dispatch like traditional trucking companies. Rather, they can choose their own loads. Landstar has agents in the United States and Canada.

From Wikipedia’s article on Landstar System, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Landstar Blue LLC Delaware8
  • Landstar Canada Holdings, Inc. Delaware8
  • Landstar Canada, Inc. Ontario, Canada8
  • Landstar Contractor Financing, Inc. Delaware8
  • Landstar Express America, Inc. Delaware8
  • Landstar Gemini, Inc. Delaware8
  • Landstar Global Logistics, Inc. Delaware8
  • Landstar Holdings, S. de R.L.C.V. Mexico8
  • Landstar Investment Holdco, LLC Delaware8
  • Landstar Inway, Inc. Delaware8
  • Landstar Ligon, Inc. Delaware8
  • Landstar MH I LLC Delaware8
  • Landstar MH II LLC Delaware8
  • Landstar Metro, S.A.P.I. de C.V. Mexico8
  • Landstar Ranger, Inc. Delaware8
  • Landstar System Holdings, Inc. Delaware8
  • Landstar Transfronteras LLC Delaware8
  • Landstar Transportation Logistics, Inc. Delaware8
  • Risk Management Claim Services, Inc. Delaware8
  • Signature Insurance Company Cayman Islands, BWI8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 28, 20268-K Results of operations; Regulation FD disclosure66
  2. Jul 23, 20268-K Other events67
  3. Jul 6, 20268-K Entered a material agreement; New debt or obligation68
  4. May 6, 20268-K Shareholder vote69
  5. Apr 28, 20268-K Results of operations; Regulation FD disclosure70
  6. Apr 2, 20268-K Executive or director change71
  7. Jan 28, 20268-K Results of operations; Regulation FD disclosure72
  8. Jan 21, 20268-K Results of operations73
  9. Dec 4, 20258-K Other events74
  10. Oct 30, 20258-K Executive or director change75
  11. Oct 28, 20258-K Results of operations; Regulation FD disclosure76
  12. Aug 13, 20258-K Exit or restructuring costs; Impairment; Other events77
  13. Feb 6, 2024New chief executive Frank A. Lonegro becomes CEO19
  14. Jan 29, 2015New chief executive James B. Gattoni becomes CEO20
  15. Feb 6, 2006New chief executive Henry H. Gerkens becomes CEO21
  16. 1988Founded Founded1

Calendar

Coming up

  1. Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.22 a share, on Oct 28, 2025.78

When it reported results

  1. Jul 28, 2026Reported quarterly or annual results66
  2. Apr 28, 2026Reported quarterly or annual results70
  3. Jan 28, 2026Reported quarterly or annual results72
  4. Jan 21, 2026Reported quarterly or annual results73
  5. Oct 28, 2025Reported quarterly or annual results76
  6. Jul 29, 2025Reported quarterly or annual results79
  7. May 13, 2025Reported quarterly or annual results80
  8. Apr 25, 2025Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

246 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 124 insider forms, 24 large holders, 30 other. The latest 20:

  1. Aug 13, 2026SCHEDULE 13G/A EDGAR
  2. Aug 12, 20263 PRIMARY DOCUMENT EDGAR
  3. Aug 4, 20264 PRIMARY DOCUMENT EDGAR
  4. Aug 3, 20263 PRIMARY DOCUMENT EDGAR
  5. Jul 29, 202610-Q EDGAR
  6. Jul 28, 20268-K EDGAR
  7. Jul 23, 20268-K EDGAR
  8. Jul 6, 20268-K EDGAR
  9. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 9, 2026144 EDGAR
  11. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 5, 2026144 EDGAR
  13. May 27, 2026144 EDGAR
  14. May 27, 2026144 EDGAR
  15. May 14, 2026SCHEDULE 13G EDGAR
  16. May 8, 20264 PRIMARY DOCUMENT EDGAR
  17. May 8, 20264 PRIMARY DOCUMENT EDGAR
  18. May 8, 20264 PRIMARY DOCUMENT EDGAR
  19. May 8, 20264 PRIMARY DOCUMENT EDGAR
  20. May 8, 20264 PRIMARY DOCUMENT EDGAR

The 246 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

17 open-market trades by officers, directors and large owners since October 2021: 2 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2026Todd James PVP and CFOSale1,200$218.17$261.8KForm 4
Jun 5, 2026MURPHY DIANA MDirectorSale11,246$221.28$2.5MForm 4
Nov 6, 2024Todd James PVP and CFOSale1,000$184.32$184.3KForm 4
Nov 4, 2024BANNISTER DAVID G/DirectorSale5,000$177.00$885.0KForm 4
Nov 1, 2024BANNISTER DAVID G/DirectorSale5,000$176.37$881.9KForm 4
Feb 5, 2024Kneller Michael KVP General Counsel & SecySale12,219$190.30$2.3MForm 4
Feb 5, 2024CORO RICARDO SVice President - CIOSale5,000$190.56$952.8KForm 4
Aug 1, 2023Beacom Joseph JPresident of LSHISale10,000$202.23$2.0MForm 4
May 30, 2023Gattoni James BPresident & CEOSale22,500$175.95$4.0MForm 4
Feb 9, 2023CORO RICARDO SVice President - CIOSale3,000$184.63$553.9KForm 4
Feb 9, 2023Beacom Joseph JPresident of LSHISale7,000$182.94$1.3MForm 4
Nov 1, 2022Kneller Michael KVP General Counsel & SecySale2,000$157.23$314.5KForm 4
Oct 31, 2022Gattoni James BPresident & CEOSale20,000$155.86$3.1MForm 4
Aug 18, 2022Beacom Joseph JPresident of LSHISale1,137$156.14$177.5KForm 4
Aug 17, 2022Beacom Joseph JPresident of LSHISale2,863$156.56$448.2KForm 4
Mar 15, 2022Akbari Dr. HomairaDirectorBuy500$153.80$76.9KForm 4
Feb 24, 2022Akbari Dr. HomairaDirectorBuy2,000$151.30$302.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Frank A. LonegroPresident and Chief Executive Officer$800.0K$4.6M90
2025Michael K. KnellerVice President, General Counsel and Secretary$425.0K$1.5M90
2025James P. ToddVice President and Chief Financial Officer$375.0K$1.2M90
2025Ricardo S. CoroVice President and Chief Information Officer$400.0K$1.2M90
2025Matthew MillerVice President and Chief Safety and Operations Officer$300.0K$874.2K90
2024Frank A. LonegroPresident and Chief Executive Officer$730.3K$13.4M90
2024Michael K. KnellerVice President, General Counsel and Secretary$400.0K$1.4M90
2024James P. ToddVice President and Chief Financial Officer$375.0K$1.2M90
2024Ricardo S. CoroVice President and Chief Information Officer$375.0K$1.1M90
2023Michael K. KnellerVice President, General Counsel and Secretary$400.0K$1.4M90
2023James P. ToddVice President and Chief Financial Officer$340.0K$1.1M90
2023Ricardo S. CoroVice President and Chief Information Officer$375.0K$1.1M90

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,378,380$698.7M0.0%+145,195
Kayne Anderson Rudnick Investment Management LLC3,087,226$638.5M2.0%−345,017
Aqr Capital Management LLC2,122,575$439.0M0.2%+286,971
Vanguard Portfolio Management LLC1,796,040$371.4M0.0%+43,329
Vanguard Capital Management LLC1,536,660$317.8M0.0%+4,760
Boston Partners1,438,306$297.6M0.3%+18,093
State Street Corp1,142,351$236.2M0.0%+18,685
Geode Capital Management, LLC988,727$204.5M0.0%+53,801
First Trust Advisors LP836,918$173.1M0.1%−281,636
Jacobs Levy Equity Management, Inc742,490$153.6M0.6%−2,738
Northern Trust Corp698,921$144.5M0.0%−22,409
Dimensional Fund Advisors LP655,088$135.5M0.0%−28,031
Millennium Management LLC607,415$125.6M0.1%+125,320
Reinhart Partners, Llc.569,090$117.7M2.7%−113,446
Goldman Sachs Group Inc526,203$108.8M0.0%+77,294
Morgan Stanley509,919$105.5M0.0%−146,199
Fenimore Asset Management Inc506,585$104.8M2.2%−59,479
Norges Bank391,307$80.9M0.0%New
UBS Group AG390,375$80.7M0.0%+112,626
Charles Schwab Investment Management Inc381,210$78.8M0.0%−2,477
Wells Fargo & Company/mn349,350$72.2M0.0%+901
Bank of New York Mellon Corp331,255$68.5M0.0%−16,622
Copeland Capital Management, LLC319,978$66.2M1.4%−57,411
Raymond James Financial Inc319,844$66.1M0.0%+12,373
Invesco Ltd.306,971$63.5M0.0%+30,614

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 16, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000−4.0%Report
Jun 17, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−3.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Landstar System is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLANDSTAR SYSTEM INC2
  • CIK0000853816
  • Employer ID (EIN)06-131306918
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 302
  • Industry code (SIC)4213 Trucking (No Local)2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address13410 Sutton Park Drive South, Jacksonville, FL 322242
  • Mailing addressLandstar System Inc, 13410 Sutton Park Drive South, Jacksonville, FL 322242
  • Phone90439894002
  • Shares outstanding33,928,210 as of Apr 20, 202616
  • Public float$4.8B as of Jun 28, 202518
  • AuditorKPMG LLP, Jacksonville, Florida PCAOB ID 185; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceFeb 14, 19942
  • Filings1,290 in all: 4 (657), 8-K (204), SC 13G/A (122), 10-Q (92), SC 13G (43), 10-K (30), 3 (30), DEF 14A (30)2
    All 22 form types

    UPLOAD (22), CORRESP (19), 144 (8), S-8 (7), PRE 14A (5), SCHEDULE 13G/A (5), 4/A (3), SCHEDULE 13G (3), 3/A (2), 8-K/A (2), DEFA14A (2), S-8 POS (2), 8-A12G/A (1), NT 10-Q (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Mar 23, 2026
    Latest 8-K (8-K) Jul 28, 2026

Securities registered for trading

ClassSymbolExchange
Common StockLSTRNASDAQ

From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Landstar System names in Item 1A of its 10-K filed Feb 24, 2026: 12 risks under these headings, as written.18

  • Operational Risks
  • Increased severity or frequency of accidents and other claims or a material unfavorable development of existing claims.
  • Dependence on third party insurance companies.
  • Dependence on independent commission sales agents.
  • Dependence on third party capacity providers.
  • Disruptions or failures in the Company’s computer systems; cyber and other information security incidents.
  • Adoption of artificial intelligence (“AI”).
  • Acquisitions, Divestitures and Investments.
  • Economic, Competitive and Industry Risks
  • Decreased demand for transportation services; U.S. trade relationships and potential or imposed tariffs.
  • Substantial industry competition.
  • Legal, Tax, Regulatory and Compliance Risks
The other 3 risks
  • Status of independent contractors.
  • Regulatory and legislative changes.
  • Regulations focused on diesel emissions and other air quality matters.
  • General Risk Factors

Legal proceedings

Legal Proceedings

Management’s Discussion and Analysis of Financial Condition and Results of Operations — Legal Proceedings.

The opening of Item 3, Legal Proceedings.18

Sources

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