Covenant Logistics Group (CVLG) Financials

$22.94 +0.02 (+0.09%)

As of 10:00 AM Eastern

Annual Income Statements for Covenant Logistics Group

This table shows Covenant Logistics Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	36	55	109
Consolidated Net Income / (Loss)	36	55	109
Net Income / (Loss) Continuing Operations	35	55	108
Total Pre-Tax Income	46	72	143
Total Operating Income	45	59	121
Total Gross Profit	338	570	648
Total Revenue	877	1,104	1,217
Operating Revenue	877	1,104	1,217
Total Cost of Revenue	539	534	569
Operating Cost of Revenue	539	534	569
Total Operating Expenses	293	511	527
Selling, General & Admin Expense	66	49	38
Marketing Expense	60	50	51
Depreciation Expense	87	70	58
Other Operating Expenses / (Income)	79	354	422
Other Special Charges / (Income)	1.63	-13	-40
Total Other Income / (Expense), net	1.14	13	22
Interest Expense	14	7.97	3.08
Interest & Investment Income	15	21	25
Income Tax Expense	11	18	35
Net Income / (Loss) Discontinued Operations	0.60	0.60	0.75
Basic Earnings per Share	$1.37	$2.12	$3.62
Weighted Average Basic Shares Outstanding	26.31M	26.10M	30.01M
Diluted Earnings per Share	$1.30	$2.00	$3.50
Weighted Average Diluted Shares Outstanding	27.71M	27.67M	31.05M
Weighted Average Basic & Diluted Shares Outstanding	26.55M	13.07M	13.24M

This table shows Covenant Logistics Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	6.72	13	12	3.97	13	14	12	17	12	50
Consolidated Net Income / (Loss)	6.72	13	12	3.97	13	14	12	17	12	50
Net Income / (Loss) Continuing Operations	6.57	13	12	3.82	13	13	12	16	11	50
Total Pre-Tax Income	8.33	17	16	4.67	17	18	15	23	14	66
Total Operating Income	8.61	16	16	4.34	14	15	12	18	11	59
Total Gross Profit	84	84	89	81	347	79	73	71	399	86
Total Revenue	217	223	225	212	477	217	206	204	461	312
Operating Revenue	217	223	225	212	477	217	206	204	461	312
Total Cost of Revenue	133	139	135	131	130	137	133	133	62	226
Operating Cost of Revenue	133	139	135	131	130	137	133	133	62	226
Total Operating Expenses	75	68	74	76	332	64	62	53	388	27
Selling, General & Admin Expense	19	12	14	21	11	12	13	14	9.35	11
Marketing Expense	15	12	17	15	13	13	11	13	15	13
Depreciation Expense	22	21	22	21	18	18	19	15	16	14
Other Operating Expenses / (Income)	19	22	19	18	290	22	21	22	349	27
Other Special Charges / (Income)	-0.12	0.21	0.84	0.70	-0.21	-0.60	-1.99	-9.79	-1.04	-39
Total Other Income / (Expense), net	-0.29	0.79	0.30	0.34	2.29	2.70	3.26	5.17	3.11	6.47
Interest Expense	3.24	3.20	3.80	3.34	2.44	2.64	2.12	0.77	0.83	0.94
Interest & Investment Income	2.95	3.99	4.09	3.68	4.73	5.34	5.38	5.94	3.93	7.40
Income Tax Expense	1.76	4.14	3.83	0.85	3.91	4.48	2.90	6.32	2.73	16
Net Income / (Loss) Discontinued Operations	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.23	0.53
Basic Earnings per Share	$0.26	$0.99	$0.93	$0.30	$0.49	$1.04	$0.95	$1.25	$0.38	$3.50
Weighted Average Basic Shares Outstanding	26.31M	13.18M	13.15M	13.09M	26.10M	12.95M	12.94M	13.36M	30.01M	14.41M
Diluted Earnings per Share	$0.26	$0.94	$0.88	$0.29	$0.49	$0.99	$0.91	$1.20	$0.38	$3.39
Weighted Average Diluted Shares Outstanding	27.71M	13.90M	13.83M	13.80M	27.67M	13.68M	13.57M	13.88M	31.05M	14.89M
Basic & Diluted Earnings per Share	$0.26	-	-	-	$0.49	-	-	-	$0.38	-
Weighted Average Basic & Diluted Shares Outstanding	26.55M	13.18M	13.17M	13.11M	13.07M	12.95M	12.95M	12.92M	13.24M	13.49M
Cash Dividends to Common per Share	$0.06	$0.11	$0.11	$0.11	$0.06	$0.11	$0.11	$0.11	$0.04	$0.08

This table details how cash moves in and out of Covenant Logistics Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	33	-66	60
Net Cash From Operating Activities	123	85	159
Net Cash From Continuing Operating Activities	123	85	159
Net Income / (Loss) Continuing Operations	36	55	109
Consolidated Net Income / (Loss)	36	55	109
Depreciation Expense	87	70	58
Non-Cash Adjustments To Reconcile Net Income	-6.97	-20	-44
Changes in Operating Assets and Liabilities, net	7.41	-21	37
Net Cash From Investing Activities	-108	-236	-86
Net Cash From Continuing Investing Activities	-108	-236	-86
Purchase of Property, Plant & Equipment	-153	-218	-100
Acquisitions	-4.56	-108	-39
Purchase of Investments	-0.60	-2.20	-0.24
Sale of Property, Plant & Equipment	50	92	53
Net Cash From Financing Activities	18	85	-13
Net Cash From Continuing Financing Activities	18	85	-13
Repayment of Debt	-144	-159	-72
Repurchase of Common Equity	0.00	-25	-85
Payment of Dividends	-5.80	-5.78	-4.29
Issuance of Debt	177	294	155
Other Financing Activities, net	-9.09	-19	-6.74
Cash Interest Paid	5.67	5.32	3.31
Cash Income Taxes Paid	7.27	4.19	17

This table details how cash moves in and out of Covenant Logistics Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	0.42	34	-1.67	0.66	-5.09	-0.43	-47	-14	9.41	55
Net Cash From Operating Activities	22	57	22	22	32	41	5.12	7.25	38	44
Net Cash From Continuing Operating Activities	22	57	22	22	32	41	5.12	7.25	38	44
Net Income / (Loss) Continuing Operations	6.72	13	12	3.97	13	14	12	17	12	50
Consolidated Net Income / (Loss)	6.72	13	12	3.97	13	14	12	17	12	50
Depreciation Expense	22	21	22	21	18	18	19	15	16	14
Non-Cash Adjustments To Reconcile Net Income	-2.60	0.74	-2.75	-2.36	-4.54	5.49	-5.75	-15	4.41	-38
Changes in Operating Assets and Liabilities, net	-4.26	22	-9.35	-1.02	5.37	3.43	-20	-9.20	6.47	17
Net Cash From Investing Activities	-3.47	-18	-43	-43	-91	-31	-120	7.08	-36	13
Net Cash From Continuing Investing Activities	-3.47	-18	-43	-43	-91	-31	-120	7.08	-36	13
Purchase of Property, Plant & Equipment	-21	-33	-51	-48	-106	-53	-43	-16	-39	-34
Purchase of Investments	-0.11	-0.19	-0.14	-0.16	-0.62	-0.13	-0.34	-1.11	-0.22	-0.01
Sale of Property, Plant & Equipment	18	15	7.69	9.59	15	30	23	24	2.89	48
Net Cash From Financing Activities	-18	-5.21	19	22	54	-9.77	69	-28	7.63	-2.52
Net Cash From Continuing Financing Activities	-18	-5.21	19	22	54	-9.77	69	-28	7.63	-2.52
Repayment of Debt	-28	-25	-55	-36	-13	-89	-38	-19	13	7.81
Payment of Dividends	-1.46	-1.45	-1.45	-1.44	-1.44	-1.44	-1.44	-1.47	-1.10	-1.17
Issuance of Debt	15	20	75	67	72	83	116	23	16	18
Other Financing Activities, net	-2.87	0.50	0.22	-6.93	-3.46	-1.92	-3.31	-11	-6.49	0.13

This table presents Covenant Logistics Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	998	954	797
Total Current Assets	214	186	223
Cash & Equivalents	36	2.29	69
Accounts Receivable	142	143	120
Inventories, net	5.65	4.85	3.52
Prepaid Expenses	20	18	16
Current Deferred & Refundable Income Taxes	6.50	6.74	4.84
Other Current Assets	4.47	12	10
Plant, Property, & Equipment, net	525	515	408
Plant, Property & Equipment, gross	729	693	620
Accumulated Depreciation	205	178	212
Total Noncurrent Assets	259	254	166
Goodwill	79	76	58
Intangible Assets	90	100	48
Other Noncurrent Operating Assets	90	78	59
Other Noncurrent Nonoperating Assets	0.21	0.41	1.03
Total Liabilities & Shareholders' Equity	998	954	797
Total Liabilities	559	551	420
Total Current Liabilities	181	170	156
Short-Term Debt	75	60	42
Accounts Payable	32	33	34
Accrued Expenses	74	77	80
Other Current Liabilities	0.75	-	-
Total Noncurrent Liabilities	378	381	263
Long-Term Debt	187	197	90
Noncurrent Deferred & Payable Income Tax Liabilities	118	116	99
Other Noncurrent Operating Liabilities	72	61	70
Other Noncurrent Nonoperating Liabilities	0.84	1.64	4.10
Total Equity & Noncontrolling Interests	438	403	377
Total Preferred & Common Equity	438	403	377
Total Common Equity	438	403	377
Common Stock	159	156	153
Retained Earnings	278	379	329
Treasury Stock	0.00	-	-
Accumulated Other Comprehensive Income / (Loss)	1.04	0.82	1.09
Other Equity Adjustments	0.00	-132	-107

This table presents Covenant Logistics Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,010	995	943	892	871	765	757
Total Current Assets	215	202	180	203	199	205	213
Cash & Equivalents	35	1.28	2.95	7.39	7.82	55	59
Accounts Receivable	135	145	144	154	143	122	133
Inventories, net	6.11	5.61	5.13	4.86	4.13	3.31	3.72
Prepaid Expenses	21	24	14	17	21	13	11
Current Deferred & Refundable Income Taxes	7.53	13	0.32	0.00	0.00	0.00	0.00
Other Current Assets	9.77	13	15	19	22	12	6.18
Plant, Property, & Equipment, net	537	533	503	444	430	389	373
Plant, Property & Equipment, gross	736	726	691	613	611	591	576
Accumulated Depreciation	199	193	188	169	181	203	203
Total Noncurrent Assets	258	260	260	246	241	171	170
Goodwill	79	79	80	73	69	58	58
Intangible Assets	92	95	97	102	98	47	49
Other Noncurrent Operating Assets	86	86	82	70	73	65	62
Other Noncurrent Nonoperating Assets	0.26	0.31	0.36	0.46	0.93	0.98	1.10
Total Liabilities & Shareholders' Equity	1,010	995	943	892	871	765	757
Total Liabilities	578	576	536	498	491	394	377
Total Current Liabilities	195	188	173	171	154	139	161
Short-Term Debt	74	82	71	46	43	37	36
Accounts Payable	32	32	32	34	34	28	33
Accrued Expenses	78	73	70	90	75	74	91
Other Current Liabilities	11	1.19	0.92	0.77	2.10	-	0.00
Total Noncurrent Liabilities	383	388	363	327	337	255	216
Long-Term Debt	192	197	187	154	163	96	70
Noncurrent Deferred & Payable Income Tax Liabilities	119	120	111	103	100	97	90
Other Noncurrent Operating Liabilities	71	64	58	63	67	58	51
Other Noncurrent Nonoperating Liabilities	1.04	1.24	1.44	1.84	3.70	3.90	4.40
Total Equity & Noncontrolling Interests	432	419	407	394	380	371	380
Total Preferred & Common Equity	432	419	407	394	380	371	380
Total Common Equity	432	419	407	394	380	371	380
Common Stock	159	158	157	156	155	153	153
Retained Earnings	404	392	381	368	355	345	319
Treasury Stock	-131	-	-132	-	-131	-127	-93
Accumulated Other Comprehensive Income / (Loss)	0.58	1.11	1.08	1.45	1.04	0.68	1.11

This table displays calculated financial ratios and metrics derived from Covenant Logistics Group's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	-20.52%	-9.31%	70.35%
EBITDA Growth	1.96%	-27.74%	47.22%
EBIT Growth	-23.91%	-51.26%	79.69%
NOPAT Growth	-22.56%	-51.24%	84.75%
Net Income Growth	-34.96%	-49.18%	78.96%
EPS Growth	-34.96%	-49.18%	78.96%
Operating Cash Flow Growth	44.85%	-46.72%	117.47%
Free Cash Flow Firm Growth	119.57%	-496.71%	-23.81%
Invested Capital Growth	0.01%	49.51%	11.80%
Revenue Q/Q Growth	-22.87%	44.77%	43.04%
EBITDA Q/Q Growth	-1.37%	4.74%	-2.26%
EBIT Q/Q Growth	-11.22%	6.07%	-5.73%
NOPAT Q/Q Growth	-10.67%	4.95%	-5.55%
Net Income Q/Q Growth	-14.47%	2.40%	-5.42%
EPS Q/Q Growth	-14.47%	2.40%	-5.42%
Operating Cash Flow Q/Q Growth	-7.48%	-6.91%	26.32%
Free Cash Flow Firm Q/Q Growth	208.53%	-46.07%	471.57%
Invested Capital Q/Q Growth	0.20%	12.04%	3.24%
Profitability Metrics	-	-	-
Gross Margin	38.52%	51.63%	53.27%
EBITDA Margin	14.97%	11.67%	14.64%
Operating Margin	5.10%	5.33%	9.92%
EBIT Margin	5.10%	5.33%	9.92%
Profit (Net Income) Margin	4.10%	5.00%	8.93%
Tax Burden Percent	78.26%	76.45%	76.11%
Interest Burden Percent	102.54%	122.81%	118.32%
Effective Tax Rate	23.04%	24.38%	24.41%
Return on Invested Capital (ROIC)	5.18%	8.02%	21.65%
ROIC Less NNEP Spread (ROIC-NNEP)	5.78%	14.55%	51.83%
Return on Net Nonoperating Assets (RNNOA)	3.35%	6.13%	8.25%
Return on Equity (ROE)	8.53%	14.15%	29.91%
Cash Return on Invested Capital (CROIC)	5.17%	-31.67%	10.51%
Operating Return on Assets (OROA)	4.59%	6.72%	16.67%
Return on Assets (ROA)	3.68%	6.31%	15.01%
Return on Common Equity (ROCE)	8.53%	14.15%	29.91%
Return on Equity Simple (ROE_SIMPLE)	8.19%	13.69%	28.82%
Net Operating Profit after Tax (NOPAT)	34	44	91
NOPAT Margin	3.93%	4.03%	7.50%
Net Nonoperating Expense Percent (NNEP)	-0.60%	-6.53%	-30.18%
Return On Investment Capital (ROIC_SIMPLE)	4.92%	6.68%	17.87%
Cost of Revenue to Revenue	61.48%	48.37%	46.73%
SG&A Expenses to Revenue	7.53%	4.48%	3.10%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.42%	46.30%	43.35%
Earnings before Interest and Taxes (EBIT)	45	59	121
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	131	129	178
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.64	1.46	1.21
Price to Tangible Book Value (P/TBV)	2.67	2.59	1.69
Price to Revenue (P/Rev)	0.82	0.54	0.38
Price to Earnings (P/E)	20.00	10.70	4.21
Dividend Yield	1.61%	1.93%	1.68%
Earnings Yield	5.00%	9.35%	23.75%
Enterprise Value to Invested Capital (EV/IC)	1.42	1.28	1.17
Enterprise Value to Revenue (EV/Rev)	1.08	0.77	0.43
Enterprise Value to EBITDA (EV/EBITDA)	7.19	6.61	2.93
Enterprise Value to EBIT (EV/EBIT)	21.10	14.47	4.33
Enterprise Value to NOPAT (EV/NOPAT)	27.42	19.14	5.72
Enterprise Value to Operating Cash Flow (EV/OCF)	7.69	10.03	3.28
Enterprise Value to Free Cash Flow (EV/FCFF)	27.47	0.00	11.79
Leverage & Solvency	-	-	-
Debt to Equity	0.60	0.65	0.35
Long-Term Debt to Equity	0.43	0.50	0.24
Financial Leverage	0.58	0.42	0.16
Leverage Ratio	2.32	2.24	1.99
Compound Leverage Factor	2.38	2.76	2.36
Debt to Total Capital	37.38%	39.43%	26.10%
Short-Term Debt to Total Capital	10.65%	9.07%	8.31%
Long-Term Debt to Total Capital	26.73%	30.36%	17.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.62%	60.57%	73.90%
Debt to EBITDA	1.99	2.04	0.75
Net Debt to EBITDA	1.72	2.02	0.36
Long-Term Debt to EBITDA	1.43	1.57	0.51
Debt to NOPAT	7.60	5.90	1.46
Net Debt to NOPAT	6.56	5.85	0.71
Long-Term Debt to NOPAT	5.43	4.55	1.00
Altman Z-Score	2.23	2.58	3.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.18	1.09	1.43
Quick Ratio	0.98	0.85	1.21
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	34	-176	44
Operating Cash Flow to CapEx	119.87%	67.45%	335.46%
Free Cash Flow to Firm to Interest Expense	2.53	-22.05	14.37
Operating Cash Flow to Interest Expense	9.05	10.65	51.65
Operating Cash Flow Less CapEx to Interest Expense	1.50	-5.14	36.25
Efficiency Ratios	-	-	-
Asset Turnover	0.90	1.26	1.68
Accounts Receivable Turnover	6.17	8.42	9.28
Inventory Turnover	102.76	127.64	166.31
Fixed Asset Turnover	1.69	2.39	3.23
Accounts Payable Turnover	16.57	15.92	17.83
Days Sales Outstanding (DSO)	59.12	43.37	39.31
Days Inventory Outstanding (DIO)	3.55	2.86	2.19
Days Payable Outstanding (DPO)	22.03	22.92	20.48
Cash Conversion Cycle (CCC)	40.64	23.31	21.03
Capital & Investment Metrics	-	-	-
Invested Capital	665	665	445
Invested Capital Turnover	1.32	1.99	2.89
Increase / (Decrease) in Invested Capital	0.07	220	47
Enterprise Value (EV)	944	851	522
Market Capitalization	718	591	458
Book Value per Share	$33.26	$31.16	$27.95
Tangible Book Value per Share	$20.43	$17.62	$20.06
Total Capital	700	666	510
Total Debt	262	263	133
Total Long-Term Debt	187	202	91
Net Debt	226	260	65
Capital Expenditures (CapEx)	103	126	47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	72	74	40
Debt-free Net Working Capital (DFNWC)	107	76	109
Net Working Capital (NWC)	33	16	67
Net Nonoperating Expense (NNE)	-1.48	-11	-17
Net Nonoperating Obligations (NNO)	227	262	68
Total Depreciation and Amortization (D&A)	87	70	58
Debt-free, Cash-free Net Working Capital to Revenue	8.15%	6.68%	3.31%
Debt-free Net Working Capital to Revenue	12.21%	6.89%	8.95%
Net Working Capital to Revenue	3.71%	1.42%	5.47%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.37	$2.12	$3.62
Adjusted Weighted Average Basic Shares Outstanding	26.31M	26.10M	30.01M
Adjusted Diluted Earnings per Share	$1.30	$2.00	$3.50
Adjusted Weighted Average Diluted Shares Outstanding	27.71M	27.67M	31.05M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	26.55M	26.14M	26.48M
Normalized Net Operating Profit after Tax (NOPAT)	36	35	61
Normalized NOPAT Margin	4.07%	3.17%	4.99%
Pre Tax Income Margin	5.23%	6.55%	11.73%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	3.30	7.38	39.14
NOPAT to Interest Expense	2.54	5.58	29.59
EBIT Less CapEx to Interest Expense	-4.25	-8.40	23.75
NOPAT Less CapEx to Interest Expense	-5.01	-10.20	14.19
Payout Ratios	-	-	-
Dividend Payout Ratio	16.14%	10.47%	3.94%
Augmented Payout Ratio	16.14%	56.51%	81.90%

This table displays calculated financial ratios and metrics derived from Covenant Logistics Group's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-54.52%	3.13%	9.08%	4.01%	3.39%	-30.52%	-12.59%	-1.97%	384.48%	13.58%
EBITDA Growth	-5.62%	12.41%	22.72%	-21.00%	21.84%	-54.61%	-24.70%	-13.64%	-13.38%	119.49%
EBIT Growth	-39.63%	7.23%	32.20%	-75.41%	30.85%	-74.36%	-56.15%	-26.06%	-40.22%	194.07%
NOPAT Growth	-37.65%	8.38%	24.25%	-72.17%	24.14%	-74.83%	-52.10%	-27.48%	-38.03%	208.06%
Net Income Growth	-47.48%	-3.50%	-0.81%	-76.11%	11.23%	-73.25%	-49.88%	-24.96%	-35.13%	207.06%
EPS Growth	-47.48%	-5.05%	-3.30%	-75.83%	11.23%	-70.80%	-41.67%	-9.09%	-35.13%	249.48%
Operating Cash Flow Growth	-31.18%	40.03%	337.50%	199.41%	-16.49%	-8.06%	-86.34%	-81.61%	666.29%	29.46%
Free Cash Flow Firm Growth	103.21%	61.71%	21.54%	-1,506.89%	-448.56%	-245.50%	-141.26%	61.53%	-266.46%	-138.45%
Invested Capital Growth	0.01%	11.84%	20.61%	47.94%	49.51%	37.76%	33.89%	6.10%	11.80%	25.98%
Revenue Q/Q Growth	-2.90%	-0.57%	6.00%	-55.56%	120.16%	5.17%	1.08%	50.13%	47.96%	32.30%
EBITDA Q/Q Growth	-18.09%	-0.66%	48.20%	-21.74%	-2.44%	8.45%	-4.60%	20.71%	-63.66%	79.92%
EBIT Q/Q Growth	-46.95%	4.22%	259.33%	-69.62%	-5.77%	28.50%	-33.17%	61.72%	-81.54%	119.77%
NOPAT Q/Q Growth	-44.69%	3.94%	233.21%	-67.45%	-3.87%	19.16%	-25.36%	45.19%	-80.51%	126.72%
Net Income Q/Q Growth	-48.44%	6.88%	206.84%	-68.94%	-5.26%	9.87%	-26.10%	44.61%	-77.22%	105.85%
EPS Q/Q Growth	-48.44%	6.82%	203.45%	-67.42%	-5.26%	8.79%	-24.17%	64.38%	-77.22%	117.31%
Operating Cash Flow Q/Q Growth	-61.43%	153.84%	3.22%	-31.90%	-21.52%	693.07%	-29.36%	-81.01%	-13.60%	17.82%
Free Cash Flow Firm Q/Q Growth	111.61%	46.60%	49.15%	-1.95%	-38.29%	-9.43%	-941.50%	65.19%	12.90%	23.59%
Invested Capital Q/Q Growth	0.20%	-5.76%	5.20%	0.68%	12.04%	1.63%	29.04%	1.74%	3.24%	-1.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.61%	37.63%	39.72%	38.08%	72.68%	36.55%	35.59%	34.63%	86.50%	27.54%
EBITDA Margin	14.14%	16.76%	16.78%	12.00%	6.81%	15.38%	14.91%	15.80%	5.78%	23.54%
Operating Margin	3.97%	7.27%	6.93%	2.04%	2.99%	6.99%	5.72%	8.65%	2.36%	18.94%
EBIT Margin	3.97%	7.27%	6.93%	2.04%	2.99%	6.99%	5.72%	8.65%	2.36%	18.94%
Profit (Net Income) Margin	3.10%	5.83%	5.43%	1.87%	2.68%	6.23%	5.97%	8.16%	2.49%	16.19%
Tax Burden Percent	80.69%	76.56%	76.83%	85.04%	77.29%	75.71%	81.74%	72.94%	82.12%	77.05%
Interest Burden Percent	96.69%	104.86%	101.89%	107.80%	116.04%	117.82%	127.64%	129.34%	128.48%	110.95%
Effective Tax Rate	21.11%	24.32%	24.12%	18.17%	23.62%	25.13%	19.26%	27.72%	19.49%	23.75%
Return on Invested Capital (ROIC)	4.13%	9.95%	9.23%	3.32%	4.54%	7.79%	7.76%	12.62%	5.50%	31.80%
ROIC Less NNEP Spread (ROIC-NNEP)	4.10%	10.29%	9.38%	3.56%	5.70%	9.52%	9.72%	17.85%	10.20%	49.19%
Return on Net Nonoperating Assets (RNNOA)	2.38%	5.38%	5.74%	1.57%	2.40%	3.08%	3.76%	3.64%	1.62%	4.34%
Return on Equity (ROE)	6.51%	15.33%	14.98%	4.89%	6.95%	10.86%	11.52%	16.26%	7.12%	36.14%
Cash Return on Invested Capital (CROIC)	5.17%	-5.04%	-12.85%	-32.38%	-31.67%	-23.49%	-14.06%	13.73%	10.51%	2.01%
Operating Return on Assets (OROA)	3.57%	8.69%	8.40%	2.66%	3.77%	6.46%	6.24%	10.77%	3.97%	22.06%
Return on Assets (ROA)	2.78%	6.98%	6.58%	2.44%	3.38%	5.76%	6.51%	10.16%	4.19%	18.86%
Return on Common Equity (ROCE)	6.51%	15.33%	14.98%	4.89%	6.95%	10.86%	11.52%	16.26%	7.12%	36.14%
Return on Equity Simple (ROE_SIMPLE)	0.00%	9.73%	10.13%	10.45%	0.00%	13.69%	23.95%	27.79%	0.00%	30.23%
Net Operating Profit after Tax (NOPAT)	6.79	12	12	3.55	11	11	9.51	13	8.78	45
NOPAT Margin	3.13%	5.50%	5.26%	1.67%	2.28%	5.23%	4.62%	6.25%	1.90%	14.44%
Net Nonoperating Expense Percent (NNEP)	0.03%	-0.35%	-0.15%	-0.25%	-1.15%	-1.74%	-1.96%	-5.22%	-4.71%	-17.40%
Return On Investment Capital (ROIC_SIMPLE)	0.97%	-	-	-	1.64%	-	-	-	1.72%	-
Cost of Revenue to Revenue	61.39%	62.37%	60.28%	61.92%	27.32%	63.45%	64.41%	65.37%	13.50%	72.46%
SG&A Expenses to Revenue	8.67%	5.34%	6.44%	9.82%	2.36%	5.43%	6.20%	6.68%	2.03%	3.59%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	34.65%	30.37%	32.79%	36.03%	69.69%	29.56%	29.87%	25.98%	84.13%	8.60%
Earnings before Interest and Taxes (EBIT)	8.61	16	16	4.34	14	15	12	18	11	59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	31	37	38	25	33	33	31	32	27	73
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.64	1.61	1.54	1.47	1.46	1.43	1.48	1.25	1.21	1.07
Price to Tangible Book Value (P/TBV)	2.67	2.68	2.63	2.61	2.59	2.57	2.64	1.74	1.69	1.50
Price to Revenue (P/Rev)	0.82	0.61	0.57	0.54	0.54	0.74	0.65	0.52	0.38	0.48
Price to Earnings (P/E)	20.00	16.57	15.22	14.07	10.70	10.43	6.17	4.49	4.21	3.55
Dividend Yield	1.61%	0.83%	0.89%	0.95%	1.93%	0.94%	0.88%	0.95%	1.68%	0.73%
Earnings Yield	5.00%	6.03%	6.57%	7.11%	9.35%	9.59%	16.21%	22.26%	23.75%	28.19%
Enterprise Value to Invested Capital (EV/IC)	1.42	1.40	1.32	1.28	1.28	1.28	1.31	1.20	1.17	1.06
Enterprise Value to Revenue (EV/Rev)	1.08	0.82	0.82	0.77	0.77	1.00	0.89	0.61	0.43	0.53
Enterprise Value to EBITDA (EV/EBITDA)	7.19	6.97	7.21	7.05	6.61	6.19	4.68	3.13	2.93	2.50
Enterprise Value to EBIT (EV/EBIT)	21.10	18.39	18.86	18.89	14.47	13.71	7.67	4.73	4.33	3.55
Enterprise Value to NOPAT (EV/NOPAT)	27.42	24.05	24.75	24.35	19.14	17.94	10.02	6.27	5.72	4.71
Enterprise Value to Operating Cash Flow (EV/OCF)	7.69	6.98	7.98	8.66	10.03	8.34	8.05	4.26	3.28	3.61
Enterprise Value to Free Cash Flow (EV/FCFF)	27.47	0.00	0.00	0.00	0.00	0.00	0.00	8.98	11.79	58.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.60	0.62	0.68	0.65	0.65	0.52	0.55	0.36	0.35	0.28
Long-Term Debt to Equity	0.43	0.45	0.48	0.47	0.50	0.40	0.44	0.26	0.24	0.19
Financial Leverage	0.58	0.52	0.61	0.44	0.42	0.32	0.39	0.20	0.16	0.09
Leverage Ratio	2.32	2.30	2.33	2.19	2.24	2.13	2.14	1.95	1.99	2.06
Compound Leverage Factor	2.24	2.42	2.38	2.37	2.60	2.51	2.73	2.52	2.56	2.28
Debt to Total Capital	37.38%	38.18%	40.48%	39.33%	39.43%	34.27%	35.54%	26.38%	26.10%	21.90%
Short-Term Debt to Total Capital	10.65%	10.61%	11.68%	10.55%	9.07%	7.72%	7.27%	7.29%	8.31%	7.43%
Long-Term Debt to Total Capital	26.73%	27.57%	28.80%	28.78%	30.36%	26.55%	28.26%	19.09%	17.79%	14.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.62%	61.82%	59.52%	60.67%	60.57%	65.73%	64.46%	73.62%	73.90%	78.10%
Debt to EBITDA	1.99	2.00	2.21	2.16	2.04	1.67	1.28	0.77	0.75	0.58
Net Debt to EBITDA	1.72	1.74	2.20	2.14	2.02	1.61	1.24	0.45	0.36	0.26
Long-Term Debt to EBITDA	1.43	1.45	1.57	1.58	1.57	1.29	1.02	0.56	0.51	0.39
Debt to NOPAT	7.60	6.91	7.59	7.48	5.90	4.85	2.75	1.54	1.46	1.10
Net Debt to NOPAT	6.56	6.00	7.55	7.39	5.85	4.67	2.65	0.91	0.71	0.49
Long-Term Debt to NOPAT	5.43	4.99	5.40	5.47	4.55	3.75	2.19	1.11	1.00	0.73
Altman Z-Score	2.11	2.49	2.43	2.44	2.42	2.21	2.35	2.68	2.91	2.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.18	1.10	1.08	1.04	1.09	1.18	1.29	1.47	1.43	1.33
Quick Ratio	0.98	0.87	0.78	0.85	0.85	0.94	0.98	1.27	1.21	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.73	-58	-109	-213	-209	-151	-138	-13	-38	-44
Operating Cash Flow to CapEx	652.74%	324.06%	52.28%	55.98%	35.14%	175.79%	25.37%	0.00%	105.50%	0.00%
Free Cash Flow to Firm to Interest Expense	2.08	-18.09	-28.56	-63.92	-85.88	-57.39	-65.11	-17.27	-46.13	-46.85
Operating Cash Flow to Interest Expense	6.78	17.75	5.90	6.50	13.08	15.40	2.41	9.43	46.14	47.24
Operating Cash Flow Less CapEx to Interest Expense	5.74	12.27	-5.38	-5.11	-24.14	6.64	-7.09	20.07	2.41	62.57
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.90	1.20	1.21	1.30	1.26	0.92	1.09	1.25	1.68	1.16
Accounts Receivable Turnover	6.17	7.86	7.84	8.36	8.42	5.32	6.03	6.88	9.28	6.44
Inventory Turnover	102.76	147.35	165.77	190.57	127.64	108.50	137.08	162.27	166.31	144.60
Fixed Asset Turnover	1.69	2.32	2.35	2.49	2.39	1.87	2.18	2.42	3.23	2.35
Accounts Payable Turnover	16.57	24.55	24.67	26.84	15.92	13.78	15.75	20.35	17.83	18.24
Days Sales Outstanding (DSO)	59.12	46.42	46.57	43.69	43.37	68.67	60.58	53.03	39.31	56.68
Days Inventory Outstanding (DIO)	3.55	2.48	2.20	1.92	2.86	3.36	2.66	2.25	2.19	2.52
Days Payable Outstanding (DPO)	22.03	14.87	14.80	13.60	22.92	26.49	23.18	17.94	20.48	20.01
Cash Conversion Cycle (CCC)	40.64	34.03	33.98	32.00	23.31	45.54	40.06	37.34	21.03	39.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	665	664	704	669	665	593	584	452	445	431
Invested Capital Turnover	1.32	1.81	1.76	1.98	1.99	1.49	1.68	2.02	2.89	2.20
Increase / (Decrease) in Invested Capital	0.07	70	120	217	220	163	148	26	47	89
Enterprise Value (EV)	944	927	930	860	851	761	762	542	522	455
Market Capitalization	718	696	646	599	591	562	561	463	458	408
Book Value per Share	$33.26	$32.77	$31.98	$31.12	$31.16	$30.43	$29.39	$28.03	$27.95	$26.30
Tangible Book Value per Share	$20.43	$19.75	$18.72	$17.55	$17.62	$16.91	$16.46	$20.08	$20.06	$18.86
Total Capital	700	698	705	671	666	599	589	504	510	487
Total Debt	262	267	285	264	263	205	209	133	133	107
Total Long-Term Debt	187	192	203	193	202	159	166	96	91	70
Net Debt	226	231	284	261	260	198	201	78	65	47
Capital Expenditures (CapEx)	3.36	18	43	39	91	23	20	-8.19	36	-14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	72	59	95	75	74	70	80	48	40	29
Debt-free Net Working Capital (DFNWC)	107	94	96	78	76	77	88	103	109	89
Net Working Capital (NWC)	33	20	14	7.04	16	31	45	66	67	53
Net Nonoperating Expense (NNE)	0.07	-0.75	-0.37	-0.43	-1.90	-2.17	-2.78	-3.89	-2.72	-5.45
Net Nonoperating Obligations (NNO)	227	232	285	262	262	199	204	81	68	51
Total Depreciation and Amortization (D&A)	22	21	22	21	18	18	19	15	16	14
Debt-free, Cash-free Net Working Capital to Revenue	8.15%	5.19%	8.42%	6.74%	6.68%	9.19%	9.32%	5.43%	3.31%	3.46%
Debt-free Net Working Capital to Revenue	12.21%	8.28%	8.53%	7.01%	6.89%	10.16%	10.23%	11.58%	8.95%	10.42%
Net Working Capital to Revenue	3.71%	1.77%	1.25%	0.63%	1.42%	4.09%	5.24%	7.43%	5.47%	6.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.13	$0.99	$0.93	$0.30	$0.25	$1.04	$0.95	$1.25	$0.19	$3.50
Adjusted Weighted Average Basic Shares Outstanding	52.61M	13.18M	13.15M	13.09M	52.19M	12.95M	12.94M	13.36M	60.02M	14.41M
Adjusted Diluted Earnings per Share	$0.13	$0.94	$0.88	$0.29	$0.25	$0.99	$0.91	$1.20	$0.19	$3.39
Adjusted Weighted Average Diluted Shares Outstanding	55.43M	13.90M	13.83M	13.80M	55.34M	13.68M	13.57M	13.88M	62.10M	14.89M
Adjusted Basic & Diluted Earnings per Share	$0.13	$0.00	$0.00	$0.00	$0.25	$0.00	$0.00	$0.00	$0.19	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.10M	13.18M	13.17M	13.11M	26.14M	12.95M	12.95M	12.92M	26.48M	13.49M
Normalized Net Operating Profit after Tax (NOPAT)	6.70	12	12	4.12	11	11	7.91	5.67	7.94	16
Normalized NOPAT Margin	3.09%	5.57%	5.54%	1.94%	2.25%	5.02%	3.84%	2.78%	1.72%	4.97%
Pre Tax Income Margin	3.84%	7.62%	7.06%	2.20%	3.47%	8.23%	7.30%	11.19%	3.04%	21.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.66	5.07	4.10	1.30	5.85	5.74	5.55	22.93	13.18	63.16
NOPAT to Interest Expense	2.10	3.83	3.11	1.06	4.47	4.30	4.48	16.57	10.61	48.16
EBIT Less CapEx to Interest Expense	1.62	-0.41	-7.18	-10.32	-31.36	-3.02	-3.95	33.57	-30.55	78.49
NOPAT Less CapEx to Interest Expense	1.06	-1.64	-8.17	-10.55	-32.74	-4.46	-5.02	27.22	-33.12	63.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.14%	13.76%	13.57%	13.53%	10.47%	10.08%	5.69%	4.56%	3.94%	2.78%
Augmented Payout Ratio	16.14%	13.62%	13.44%	24.39%	56.51%	82.99%	79.21%	92.52%	81.90%	64.47%

Frequently Asked Questions About Covenant Logistics Group's Financials

When does Covenant Logistics Group's financial year end?

According to the most recent income statement we have on file, Covenant Logistics Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Covenant Logistics Group's net income changed over the last 2 years?

Covenant Logistics Group's net income appears to be on a downward trend, with a most recent value of $35.92 million in 2024, falling from $108.68 million in 2022. The previous period was $55.23 million in 2023. See where experts think Covenant Logistics Group is headed by visiting Covenant Logistics Group's forecast page.

What is Covenant Logistics Group's operating income?

Covenant Logistics Group's total operating income in 2024 was $44.76 million, based on the following breakdown:

Total Gross Profit: $337.87 million
Total Operating Expenses: $293.11 million

How has Covenant Logistics Group revenue changed over the last 2 years?

Over the last 2 years, Covenant Logistics Group's total revenue changed from $1.22 billion in 2022 to $877.17 million in 2024, a change of -27.9%.

How much debt does Covenant Logistics Group have?

Covenant Logistics Group's total liabilities were at $559.23 million at the end of 2024, a 1.5% increase from 2023, and a 33.3% increase since 2022.

How much cash does Covenant Logistics Group have?

In the past 2 years, Covenant Logistics Group's cash and equivalents has ranged from $2.29 million in 2023 to $68.67 million in 2022, and is currently $35.62 million as of their latest financial filing in 2024.

How has Covenant Logistics Group's book value per share changed over the last 2 years?

Over the last 2 years, Covenant Logistics Group's book value per share changed from 27.95 in 2022 to 33.26 in 2024, a change of 19.0%.

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This page (NASDAQ:CVLG) was last updated on 5/30/2025 by MarketBeat.com Staff

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Covenant Logistics Group (CVLG) Financials

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Covenant Logistics Group (CVLG) Financials

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