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.1Wikipedia text CC BY-SA 4.0
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.
Where each dollar of operating cash went, fiscal 2025
Dividends paidShare buybacks
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 2019Operating income101112139$151.6M in 2025−49% since 2019Net income101112139$115.0M in 2025−49% since 2019
Revenue141516$1.2B in Q1 FY2026−3% since Q2 FY2025Operating income141516$53.2M in Q1 FY2026−5% since Q2 FY2025Net income141516$39.4M in Q1 FY2026−6% since Q2 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
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 outstanding
34.7M shares
35.5M shares
35.9M shares
Average diluted shares outstanding
34.7M shares
35.5M shares
35.9M shares
Dividends per common share
$3.56
$3.38
$3.26
No quarter-by-quarter statement was filed.
Total assets101112139$1.6B in 2025+15% since 2019Shareholders’ equity17101112139$795.7M in 2025+10% since 2019Cash17101112139$396.7M in 2025+24% since 2019Long-term debt17101112139$0 in 2025
Total assets141516$1.6B in Q1 FY2026−6% since Q2 FY2025Shareholders’ equity141516$799.0M in Q1 FY2026−13% since Q2 FY2025Cash141516$353.3M in Q1 FY2026−2% since Q2 FY2025Long-term debt141516$0 in Q1 FY2026
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash and cash equivalents
$396.7M
$515.0M
Short-term investments
$55.5M
$51.6M
Trade accounts receivable, less allowance of $12,490 and $12,904
$670.1M
$683.8M
Other receivables, including advances to independent contractors, less allowance of $18,759 and $17,812
$52.8M
$47.2M
Assets held for sale
$12.2M
$0
Other current assets
$28.9M
$22.2M
Total current assets
$1.2B
$1.3B
Operating property, less accumulated depreciation and amortization of $473,642 and $456,547
$261.3M
$311.3M
Goodwill
$34.0M
$40.9M
$42.3M
Other assets
$124.3M
$141.2M
Total assets
$1.6B
$1.8B
Cash overdraft
$56.7M
$61.0M
Accounts payable
$369.6M
$383.6M
Current maturities of long-term debt
$28.3M
$33.1M
Insurance claims
$87.3M
$40.5M
Dividends payable
$68.1M
$70.6M
Liabilities held for sale
$7.0M
$0
Other current liabilities
$78.9M
$84.2M
Total current liabilities
$695.8M
$673.2M
Long-term debt, excluding current maturities
$48.5M
$69.2M
Insurance claims
$62.7M
$62.8M
Deferred income taxes and other noncurrent liabilities
$33.2M
$35.7M
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,590,708 and 68,559,269 shares
$686.0K
$686.0K
Additional paid-in capital
$261.3M
$255.3M
Retained earnings
$2.9B
$2.9B
Cost of 34,531,982 and 33,243,196 shares of common stock in treasury
-$2.3B
-$2.1B
Accumulated other comprehensive loss
-$5.7M
-$12.0M
Total shareholders' equity
$795.7M
$972.4M
Total liabilities and shareholders' equity
$1.6B
$1.8B
Allowance on trade accounts receivable
$12.5M
$12.9M
Allowance on other receivables
$18.8M
$17.8M
Accumulated depreciation and amortization on operating property
$473.6M
$456.5M
Common stock, par value
$0.01
$0.01
Common stock, authorized shares
160.0M shares
160.0M shares
Common stock, issued shares
68.6M shares
68.6M shares
Treasury stock, shares
34.5M shares
33.2M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash and cash equivalents
$396.7M
$515.0M
Short-term investments
$55.5M
$51.6M
Trade accounts receivable, less allowance of $12,490 and $12,904
$670.1M
$683.8M
Other receivables, including advances to independent contractors, less allowance of $18,759 and $17,812
$52.8M
$47.2M
Assets held for sale
$12.2M
$0
Other current assets
$28.9M
$22.2M
Total current assets
$1.2B
$1.3B
Operating property, less accumulated depreciation and amortization of $473,642 and $456,547
$261.3M
$311.3M
Goodwill
$34.0M
$40.9M
$42.3M
Other assets
$124.3M
$141.2M
Total assets
$1.6B
$1.8B
Cash overdraft
$56.7M
$61.0M
Accounts payable
$369.6M
$383.6M
Current maturities of long-term debt
$28.3M
$33.1M
Insurance claims
$87.3M
$40.5M
Dividends payable
$68.1M
$70.6M
Liabilities held for sale
$7.0M
$0
Other current liabilities
$78.9M
$84.2M
Total current liabilities
$695.8M
$673.2M
Long-term debt, excluding current maturities
$48.5M
$69.2M
Insurance claims
$62.7M
$62.8M
Deferred income taxes and other noncurrent liabilities
$33.2M
$35.7M
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,590,708 and 68,559,269 shares
$686.0K
$686.0K
Additional paid-in capital
$261.3M
$255.3M
Retained earnings
$2.9B
$2.9B
Cost of 34,531,982 and 33,243,196 shares of common stock in treasury
-$2.3B
-$2.1B
Accumulated other comprehensive loss
-$5.7M
-$12.0M
Total shareholders' equity
$795.7M
$972.4M
Total liabilities and shareholders' equity
$1.6B
$1.8B
Allowance on trade accounts receivable
$12.5M
$12.9M
Allowance on other receivables
$18.8M
$17.8M
Accumulated depreciation and amortization on operating property
$473.6M
$456.5M
Common stock, par value
$0.01
$0.01
Common stock, authorized shares
160.0M shares
160.0M shares
Common stock, issued shares
68.6M shares
68.6M shares
Treasury stock, shares
34.5M shares
33.2M shares
Cash from operations101112139$224.9M in 2025−27% since 2019Capital spending101112139$9.9M in 2025−49% since 2019Free cash flow101112139$215.0M in 2025−25% since 2019Dividends paid101112139$124.8M in 2025+347% since 2019Share buybacks101112139$179.9M in 2025+103% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net income
$115.0M
$195.9M
$264.4M
Depreciation and amortization
$46.4M
$56.7M
$58.2M
Non-cash interest charges
$264.0K
$263.0K
$263.0K
Provisions for losses on trade and other accounts receivable
$16.6M
$18.3M
$14.0M
Gains on sales/disposals of operating property
-$1.8M
-$1.6M
-$4.6M
Impairment of intangible and other assets
$32.2M
$0
$0
Deferred income taxes, net
$2.6M
-$7.0M
-$7.7M
Stock-based compensation
$6.0M
$3.4M
$4.3M
(Increase) decrease in trade and other accounts receivable
-$8.5M
$37.8M
$222.9M
Increase in other assets
-$11.3M
-$16.1M
-$2.5M
Decrease in accounts payable
-$14.1M
-$12.4M
-$131.4M
(Decrease) increase in other liabilities
-$5.2M
$8.5M
-$15.8M
Increase (decrease) in insurance claims
$46.7M
$2.6M
-$8.4M
NET CASH PROVIDED BY OPERATING ACTIVITIES
$224.9M
$286.6M
$393.6M
Sales and maturities of investments
$163.2M
$112.1M
$112.6M
Purchases of investments
-$162.6M
-$101.3M
-$101.6M
Purchases of operating property
-$9.9M
-$31.0M
-$25.7M
Proceeds from sales of operating property
$6.9M
$9.7M
$8.3M
NET CASH USED BY INVESTING ACTIVITIES
-$2.4M
-$10.5M
-$6.5M
Decrease in cash overdraft
-$4.4M
-$508.0K
-$31.4M
Dividends paid
-$124.8M
-$120.5M
-$117.1M
Proceeds from exercises of stock options
$0
$0
$28.0K
Taxes paid in lieu of shares issued related to stock-based compensation plans
-$933.0K
-$3.9M
-$9.2M
Purchases of common stock
-$179.9M
-$81.4M
-$53.9M
Principal payments on finance lease obligations
-$33.2M
-$31.0M
-$36.4M
NET CASH USED BY FINANCING ACTIVITIES
-$343.1M
-$237.3M
-$248.0M
Effect of exchange rate changes on cash and cash equivalents
$2.5M
-$4.7M
$2.3M
(Decrease) increase in cash and cash equivalents, including cash and cash equivalents classified as assets held for sale
-$118.1M
$34.0M
$141.5M
Less: Net change in cash and cash equivalents classified as assets held for sale
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.
Landstar SystemJacksonville, 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.
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.
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.
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.
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
Jul 28, 2026Reported quarterly or annual results66
Apr 28, 2026Reported quarterly or annual results70
Jan 28, 2026Reported quarterly or annual results72
Jan 21, 2026Reported quarterly or annual results73
Oct 28, 2025Reported quarterly or annual results76
Jul 29, 2025Reported quarterly or annual results79
May 13, 2025Reported quarterly or annual results80
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:
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.
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.
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.