What is Saia's operating income?

Saia's total operating income in 2025 was $352.20 million, based on the following breakdown: Total Gross Profit: $1.42 billion Total Operating Expenses: $1.07 billion

Saia (SAIA) Financials

$356.96 +1.19 (+0.33%)

Closing price 08/11/2026 04:00 PM Eastern

Extended Trading

$356.50 -0.46 (-0.13%)

As of 05:10 AM Eastern

Compare

Annual Income Statements for Saia

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	55	48	91	105	114	138	253	357	355	362	255
Consolidated Net Income / (Loss)	55	48	91	105	114	138	253	357	355	362	255
Net Income / (Loss) Continuing Operations	55	48	91	105	114	138	253	357	355	362	255
Total Pre-Tax Income	86	75	90	136	147	176	333	468	466	476	337
Total Operating Income	90	79	95	141	153	180	335	470	460	482	352
Total Gross Profit	481	466	530	332	369	718	975	1,307	1,341	1,484	1,420
Total Revenue	1,221	1,250	1,405	1,654	1,787	1,822	2,289	2,792	2,881	3,209	3,234
Operating Revenue	1,221	1,250	1,405	1,654	1,787	1,822	2,289	2,792	2,881	3,209	3,234
Total Cost of Revenue	741	784	874	1,322	1,418	1,105	1,313	1,485	1,540	1,725	1,814
Operating Cost of Revenue	741	784	874	1,322	1,418	1,105	1,313	1,485	1,540	1,725	1,814
Total Operating Expenses	391	387	436	191	216	537	640	836	881	1,002	1,068
Marketing Expense	27	40	37	38	43	50	61	57	68	78	93
Depreciation Expense	65	76	87	102	119	135	142	157	179	210	249
Other Operating Expenses / (Income)	298	270	311	50	54	356	441	622	633	710	739
Other Special Charges / (Income)	0.31	0.72	-0.18	0.38	-0.40	-2.53	-3.89	0.05	0.91	4.48	-12
Total Other Income / (Expense), net	-4.01	-4.22	-4.96	-5.34	-5.93	-4.04	-2.37	-2.44	5.73	-6.15	-15
Interest Expense	4.11	4.39	5.05	5.42	6.69	5.18	3.21	2.61	2.54	8.93	16
Interest & Investment Income	-	-	-	-	-	-	0.01	0.22	6.21	1.05	0.15
Other Income / (Expense), net	0.10	0.18	0.09	0.07	0.75	1.13	0.83	-0.05	2.06	1.73	1.48
Income Tax Expense	31	27	-1.38	31	33	38	80	111	111	114	82
Basic Earnings per Share	$2.21	$1.92	$3.57	$4.08	$4.38	$5.29	$9.62	$13.48	$13.32	$13.57	$9.54
Weighted Average Basic Shares Outstanding	24.92M	25.04M	25.52M	25.76M	25.95M	26.14M	26.32M	26.52M	26.63M	26.69M	26.74M
Diluted Earnings per Share	$2.16	$1.87	$3.49	$3.99	$4.30	$5.20	$9.48	$13.40	$13.26	$13.51	$9.52
Weighted Average Diluted Shares Outstanding	25.47M	25.68M	26.09M	26.29M	26.44M	26.59M	26.71M	26.67M	26.76M	26.80M	26.79M
Weighted Average Basic & Diluted Shares Outstanding	24.90M	25M	25.50M	25.70M	26.04M	26.33M	26.40M	26.53M	26.59M	26.63M	26.67M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	89	91	103	93	76	50	71	86	48	50	94
Consolidated Net Income / (Loss)	89	91	103	93	76	50	71	86	48	50	94
Net Income / (Loss) Continuing Operations	89	91	103	93	76	50	71	86	48	50	94
Total Pre-Tax Income	116	119	136	123	99	66	96	115	61	65	125
Total Operating Income	113	118	138	125	101	70	99	119	64	67	125
Total Gross Profit	167	413	451	378	176	398	368	379	216	349	522
Total Revenue	751	755	823	842	789	788	817	840	790	806	956
Operating Revenue	751	755	823	842	789	788	817	840	790	806	956
Total Cost of Revenue	585	342	372	464	613	389	449	460	574	458	434
Operating Cost of Revenue	585	342	372	464	613	389	449	460	574	458	434
Total Operating Expenses	54	295	313	253	74	328	269	261	152	282	397
Marketing Expense	19	17	19	19	22	22	23	24	25	23	24
Depreciation Expense	46	49	53	55	54	59	63	64	63	62	64
Other Operating Expenses / (Income)	-11	229	242	179	-4.94	247	184	187	64	196	306
Other Special Charges / (Income)	0.27	0.24	0.43	0.61	3.20	0.61	0.02	-14	0.51	0.98	2.15
Total Other Income / (Expense), net	2.95	1.00	-1.98	-2.49	-2.69	-4.60	-3.84	-3.79	-2.59	-1.77	0.26
Interest Expense	0.94	0.54	2.41	3.00	2.98	4.29	4.74	4.48	2.93	2.57	2.05
Interest & Investment Income	3.16	0.76	0.11	0.05	0.14	0.04	0.03	0.04	0.03	0.06	0.32
Other Income / (Expense), net	0.72	0.79	0.33	0.46	0.16	-0.36	0.87	0.65	0.31	0.74	1.99
Income Tax Expense	26	28	33	30	23	16	24	29	14	15	31
Basic Earnings per Share	$3.34	$3.40	$3.84	$3.47	$2.86	$1.86	$2.67	$3.23	$1.78	$1.86	$3.52
Weighted Average Basic Shares Outstanding	26.63M	26.67M	26.69M	26.70M	26.69M	26.72M	26.74M	26.75M	26.74M	26.76M	26.78M
Diluted Earnings per Share	$3.32	$3.38	$3.83	$3.46	$2.84	$1.86	$2.67	$3.22	$1.77	$1.86	$3.51
Weighted Average Diluted Shares Outstanding	26.76M	26.79M	26.80M	26.79M	26.80M	26.79M	26.79M	26.79M	26.79M	26.81M	26.83M
Weighted Average Basic & Diluted Shares Outstanding	26.59M	26.59M	26.59M	26.60M	26.63M	26.63M	26.64M	26.64M	26.67M	26.67M	26.67M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-4.24	1.42	3.18	-2.53	-1.95	25	81	81	109	-277	0.25
Net Cash From Operating Activities	146	146	158	256	273	309	383	473	578	584	595
Net Cash From Continuing Operating Activities	146	146	158	256	273	312	383	473	576	584	595
Net Income / (Loss) Continuing Operations	55	48	91	105	114	138	253	357	355	362	255
Consolidated Net Income / (Loss)	55	48	91	105	114	138	253	357	355	362	255
Depreciation Expense	65	76	87	102	119	135	142	157	179	210	249
Non-Cash Adjustments To Reconcile Net Income	5.65	6.79	7.53	5.24	16	12	8.37	12	13	22	13
Changes in Operating Assets and Liabilities, net	21	15	-28	44	24	27	-21	-54	30	-11	79
Net Cash From Investing Activities	-108	-118	-182	-223	-281	-219	-278	-366	-449	-1,036	-553
Net Cash From Continuing Investing Activities	-108	-118	-182	-223	-281	-219	-278	-366	-449	-1,036	-553
Purchase of Property, Plant & Equipment	-86	-119	-187	-224	-288	-231	-286	-367	-440	-1,044	-568
Sale of Property, Plant & Equipment	0.82	1.68	5.17	1.09	6.62	12	8.40	1.92	2.73	2.69	24
Other Investing Activities, net	-	-	-	-	-	-	-	0.00	-12	5.00	-8.39
Net Cash From Financing Activities	-42	-27	27	-36	6.21	-65	-23	-27	-20	175	-42
Net Cash From Continuing Financing Activities	-42	-27	27	-36	6.21	-65	-23	-27	-20	175	-42
Repayment of Debt	-292	-215	-237	-250	-350	-369	-64	-20	-16	-1,072	-1,028
Issuance of Debt	250	185	261	211	357	323	43	1.00	0.00	1,154	992
Issuance of Common Equity	-	-	-	-	-	-	-	0.00	0.00	100	0.00
Other Financing Activities, net	-0.59	2.52	3.23	2.77	-0.54	-19	-2.89	-7.24	-4.34	-6.53	-5.89

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	47	-284	-1.14	3.24	5.07	-2.94	2.30	17	-16	19	45
Net Cash From Operating Activities	162	106	131	182	165	109	171	178	137	140	152
Net Cash From Continuing Operating Activities	162	106	131	182	161	109	171	178	137	140	152
Net Income / (Loss) Continuing Operations	89	91	103	93	76	50	71	86	48	50	94
Consolidated Net Income / (Loss)	89	91	103	93	76	50	71	86	48	50	94
Depreciation Expense	46	49	53	55	54	59	63	64	63	62	64
Non-Cash Adjustments To Reconcile Net Income	2.34	3.62	7.05	5.61	2.44	6.50	6.72	-7.12	6.61	7.34	9.15
Changes in Operating Assets and Liabilities, net	24	-37	-31	29	29	-6.28	30	35	20	20	-16
Net Cash From Investing Activities	-112	-452	-224	-192	-168	-202	-182	-71	-98	-64	-94
Net Cash From Continuing Investing Activities	-112	-452	-224	-192	-168	-202	-182	-71	-98	-64	-94
Purchase of Property, Plant & Equipment	-99	-457	-225	-193	-168	-203	-175	-90	-100	-66	-95
Sale of Property, Plant & Equipment	0.59	0.34	0.30	1.44	0.62	0.83	1.14	20	1.78	2.39	0.65
Net Cash From Financing Activities	-3.04	61	93	13	7.97	90	13	-91	-55	-56	-12
Net Cash From Continuing Financing Activities	-3.04	61	93	13	7.97	90	13	-91	-55	-56	-12
Repayment of Debt	-3.03	-53	-443	-383	-183	-349	-288	-201	-190	-265	-48
Issuance of Debt	-	120	436	397	201	444	302	111	135	214	35
Other Financing Activities, net	-0.01	-5.98	-	-0.81	-9.94	-5.18	-0.10	-0.79	0.18	-5.45	0.39

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	729	800	967	1,134	1,416	1,549	1,845	2,175	2,584	3,167	3,483
Total Current Assets	159	166	203	213	232	272	416	531	649	436	435
Cash & Equivalents	0.12	1.54	4.72	2.19	0.25	25	107	187	296	19	20
Accounts Receivable	124	135	170	182	196	217	277	290	312	323	332
Prepaid Expenses	14	17	18	21	19	20	20	23	33	35	36
Current Deferred & Refundable Income Taxes	16	6.99	3.66	1.83	8.29	0.10	0.00	23	1.01	44	33
Other Current Assets	4.70	5.50	7.05	7.12	9.18	9.89	13	7.23	7.08	14	14
Plant, Property, & Equipment, net	539	604	736	893	1,053	1,136	1,280	1,483	1,763	2,557	2,844
Plant, Property & Equipment, gross	996	1,102	1,290	1,521	1,739	1,901	2,145	2,479	2,882	3,790	4,259
Accumulated Depreciation	456	498	554	628	687	765	864	996	1,118	1,233	1,415
Total Noncurrent Assets	31	30	28	27	131	141	149	161	172	174	204
Goodwill	12	12	12	12	12	12	19	18	17	16	16
Other Noncurrent Operating Assets	4.04	4.37	4.26	4.65	109	121	129	143	154	158	188
Total Liabilities & Shareholders' Equity	729	800	967	1,134	1,416	1,549	1,845	2,175	2,584	3,167	3,483
Total Liabilities	301	317	385	438	600	587	625	595	642	856	905
Total Current Liabilities	141	145	167	209	241	276	321	274	322	278	265
Short-Term Debt	12	17	14	18	19	21	19	15	10	5.31	0.98
Accounts Payable	55	45	57	79	84	89	114	100	142	115	107
Accrued Expenses	27	33	36	41	37	50	55	45	42	43	46
Current Employee Benefit Liabilities	28	32	40	48	50	55	73	67	76	50	51
Other Current Liabilities	19	18	20	23	52	61	60	48	53	65	60
Total Noncurrent Liabilities	160	172	218	229	359	312	304	321	320	577	640
Long-Term Debt	57	57	119	105	117	50	31	16	6.32	195	163
Noncurrent Deferred & Payable Income Tax Liabilities	67	80	59	87	112	120	124	146	156	219	284
Other Noncurrent Operating Liabilities	36	35	40	37	131	142	148	159	158	163	192
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	428	483	582	696	815	961	1,220	1,579	1,941	2,311	2,578
Total Preferred & Common Equity	428	483	582	696	815	961	1,220	1,579	1,941	2,311	2,578
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	428	483	582	696	815	961	1,220	1,579	1,941	2,311	2,578
Common Stock	231	238	246	255	261	268	275	277	285	295	308
Retained Earnings	200	248	340	444	558	697	950	1,307	1,662	2,024	2,279
Other Equity Adjustments	-3.10	-3.19	-3.49	-3.38	-3.87	-2.94	-4.10	-5.25	-5.68	-7.98	-9.09

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	2,243	2,337	2,485	2,766	2,957	3,082	3,365	3,458	3,501	3,564	3,725
Total Current Assets	514	579	646	416	446	437	470	451	497	499	588
Cash & Equivalents	166	235	249	12	11	14	17	19	36	39	84
Accounts Receivable	295	300	346	346	376	372	351	347	365	377	424
Prepaid Expenses	39	37	28	51	43	36	55	46	35	62	52
Current Deferred & Refundable Income Taxes	6.39	1.44	14	-	7.17	8.33	34	25	49	6.27	13
Other Current Assets	7.15	6.36	7.47	6.91	9.10	6.47	13	14	13	15	16
Plant, Property, & Equipment, net	1,568	1,608	1,673	2,177	2,341	2,482	2,722	2,812	2,814	2,853	2,905
Plant, Property & Equipment, gross	2,603	2,683	2,789	3,336	3,535	3,704	3,996	4,133	4,182	4,304	4,386
Accumulated Depreciation	1,035	1,076	1,116	1,160	1,194	1,222	1,273	1,322	1,368	1,451	1,481
Total Noncurrent Assets	161	151	166	173	170	163	173	195	190	211	232
Goodwill	18	18	18	17	17	17	16	16	16	15	15
Other Noncurrent Operating Assets	143	133	149	156	153	146	157	179	174	196	217
Total Liabilities & Shareholders' Equity	2,243	2,337	2,485	2,766	2,957	3,082	3,365	3,458	3,501	3,564	3,725
Total Liabilities	592	591	636	737	821	851	1,005	1,021	975	937	998
Total Current Liabilities	271	267	299	338	328	347	328	303	296	328	371
Short-Term Debt	14	12	11	7.50	7.58	6.76	3.77	1.97	1.20	0.76	0.12
Accounts Payable	108	98	113	153	156	161	155	129	113	147	165
Accrued Expenses	43	42	46	37	40	41	46	47	45	46	45
Current Employee Benefit Liabilities	55	63	78	55	63	71	58	62	72	70	92
Other Current Liabilities	50	52	52	85	62	67	66	63	64	64	69
Total Noncurrent Liabilities	321	324	337	399	493	504	677	718	679	609	627
Long-Term Debt	12	9.68	7.96	77	169	184	292	307	218	112	100
Noncurrent Deferred & Payable Income Tax Liabilities	152	159	163	158	160	162	224	237	287	294	300
Other Noncurrent Operating Liabilities	158	155	165	165	164	158	161	175	174	203	228
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,651	1,746	1,849	2,029	2,136	2,231	2,360	2,437	2,526	2,626	2,727
Total Preferred & Common Equity	1,651	1,746	1,849	2,029	2,136	2,231	2,360	2,437	2,526	2,626	2,727
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,651	1,746	1,849	2,029	2,136	2,231	2,360	2,437	2,526	2,626	2,727
Common Stock	273	277	282	282	288	291	295	301	303	306	313
Retained Earnings	1,383	1,475	1,573	1,753	1,855	1,948	2,074	2,145	2,232	2,329	2,423
Other Equity Adjustments	-5.66	-5.63	-5.57	-5.93	-6.82	-7.88	-8.99	-9.42	-8.90	-9.10	-9.83

This table displays calculated financial ratios and metrics derived from Saia's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.01%	2.38%	12.34%	17.74%	8.04%	1.99%	25.59%	21.99%	3.20%	11.37%	0.79%
EBITDA Growth	7.10%	0.30%	16.94%	33.81%	11.94%	16.01%	51.11%	31.40%	2.19%	8.20%	-13.22%
EBIT Growth	4.99%	-11.94%	19.53%	49.00%	8.56%	18.34%	85.16%	40.02%	-1.68%	4.61%	-26.91%
NOPAT Growth	4.99%	-11.91%	89.57%	13.46%	8.44%	19.60%	80.22%	40.88%	-2.45%	4.64%	-27.41%
Net Income Growth	5.82%	-12.71%	89.76%	15.20%	8.32%	21.65%	83.05%	41.14%	-0.72%	2.03%	-29.56%
EPS Growth	5.88%	-13.43%	86.63%	14.33%	7.77%	20.93%	82.31%	41.35%	-1.04%	1.89%	-29.53%
Operating Cash Flow Growth	42.74%	0.41%	7.80%	62.46%	6.41%	13.29%	23.76%	23.64%	22.18%	1.00%	1.93%
Free Cash Flow Firm Growth	169.72%	-222.71%	-651.16%	105.53%	-606.04%	619.16%	13.82%	2.69%	11.16%	-515.07%	107.84%
Invested Capital Growth	11.48%	11.80%	27.97%	14.89%	16.52%	5.84%	15.61%	22.23%	16.78%	49.97%	9.22%
Revenue Q/Q Growth	-1.77%	3.69%	2.04%	2.90%	2.07%	1.87%	6.55%	1.40%	3.42%	1.19%	0.03%
EBITDA Q/Q Growth	-0.76%	1.54%	5.22%	6.40%	-0.24%	8.89%	11.23%	-0.02%	4.16%	-0.48%	-4.51%
EBIT Q/Q Growth	-3.15%	-0.60%	6.59%	7.58%	-3.36%	14.88%	16.06%	-0.81%	4.41%	-2.37%	-9.54%
NOPAT Q/Q Growth	-3.73%	-2.02%	69.51%	-17.52%	-3.45%	14.74%	15.12%	-1.01%	4.96%	-2.35%	-9.72%
Net Income Q/Q Growth	-3.81%	-2.12%	69.74%	-17.59%	-3.37%	15.74%	15.26%	-0.80%	5.46%	-3.50%	-10.08%
EPS Q/Q Growth	-5.68%	-3.61%	69.42%	-17.56%	-3.80%	15.81%	15.19%	-0.81%	5.32%	-3.43%	-10.10%
Operating Cash Flow Q/Q Growth	17.43%	-2.45%	1.28%	18.05%	-1.35%	1.51%	13.24%	3.06%	6.00%	0.53%	-4.41%
Free Cash Flow Firm Q/Q Growth	141.42%	60.77%	-48.57%	197.62%	63.18%	28.24%	-37.78%	102.34%	5.05%	-12.16%	636.33%
Invested Capital Q/Q Growth	1.28%	-1.24%	7.86%	3.35%	-0.65%	-0.69%	7.97%	2.26%	2.63%	3.49%	0.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.35%	37.28%	37.75%	20.09%	20.64%	39.38%	42.61%	46.80%	46.56%	46.24%	43.90%
EBITDA Margin	12.70%	12.44%	12.95%	14.72%	15.25%	17.35%	20.87%	22.48%	22.26%	21.63%	18.62%
Operating Margin	7.37%	6.33%	6.74%	8.54%	8.54%	9.89%	14.64%	16.85%	15.98%	15.02%	10.89%
EBIT Margin	7.37%	6.34%	6.75%	8.54%	8.58%	9.96%	14.68%	16.85%	16.05%	15.08%	10.94%
Profit (Net Income) Margin	4.50%	3.84%	6.49%	6.35%	6.36%	7.59%	11.06%	12.80%	12.32%	11.28%	7.89%
Tax Burden Percent	64.00%	64.10%	101.54%	77.29%	77.54%	78.48%	76.10%	76.36%	76.11%	76.06%	75.59%
Interest Burden Percent	95.44%	94.46%	94.67%	96.16%	95.64%	97.15%	99.05%	99.49%	100.79%	98.37%	95.39%
Effective Tax Rate	36.00%	35.90%	-1.54%	22.71%	22.46%	21.52%	23.90%	23.64%	23.89%	23.94%	24.41%
Return on Invested Capital (ROIC)	12.22%	9.64%	15.19%	14.29%	13.39%	14.45%	23.49%	27.78%	22.72%	17.66%	10.21%
ROIC Less NNEP Spread (ROIC-NNEP)	8.74%	5.81%	10.17%	10.97%	9.80%	10.96%	57.77%	29.53%	20.72%	27.12%	3.32%
Return on Net Nonoperating Assets (RNNOA)	1.62%	0.90%	1.91%	2.14%	1.67%	1.12%	-0.28%	-2.24%	-2.57%	-0.63%	0.22%
Return on Equity (ROE)	13.84%	10.54%	17.10%	16.42%	15.05%	15.57%	23.22%	25.53%	20.16%	17.03%	10.43%
Cash Return on Invested Capital (CROIC)	1.36%	-1.50%	-9.35%	0.43%	-1.87%	8.78%	9.01%	7.77%	7.24%	-22.32%	1.39%
Operating Return on Assets (OROA)	12.90%	10.37%	10.73%	13.45%	12.03%	12.24%	19.80%	23.41%	19.44%	16.83%	10.64%
Return on Assets (ROA)	7.88%	6.28%	10.31%	9.99%	8.92%	9.33%	14.92%	17.78%	14.92%	12.59%	7.67%
Return on Common Equity (ROCE)	13.84%	10.54%	17.10%	16.42%	15.05%	15.57%	23.22%	25.53%	20.16%	17.03%	10.43%
Return on Equity Simple (ROE_SIMPLE)	12.86%	9.94%	15.64%	15.09%	13.95%	14.39%	20.75%	22.63%	18.28%	15.67%	0.00%
Net Operating Profit after Tax (NOPAT)	58	51	96	109	118	142	255	359	350	367	266
NOPAT Margin	4.71%	4.06%	6.85%	6.60%	6.62%	7.77%	11.14%	12.87%	12.16%	11.43%	8.23%
Net Nonoperating Expense Percent (NNEP)	3.48%	3.83%	5.02%	3.32%	3.58%	3.49%	-34.27%	-1.75%	2.00%	-9.46%	6.89%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	22.31%	17.90%	14.60%	9.71%
Cost of Revenue to Revenue	60.65%	62.72%	62.25%	79.91%	79.36%	60.62%	57.39%	53.20%	53.44%	53.76%	56.10%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.98%	30.95%	31.00%	11.55%	12.10%	29.49%	27.97%	29.95%	30.57%	31.22%	33.01%
Earnings before Interest and Taxes (EBIT)	90	79	95	141	153	181	336	470	463	484	354
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	155	156	182	243	272	316	478	628	641	694	602
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	2.30	3.10	2.06	2.96	4.92	7.27	3.51	5.99	5.24	3.37
Price to Tangible Book Value (P/TBV)	1.40	2.43	3.23	2.13	3.04	5.03	7.39	3.55	6.05	5.28	3.40
Price to Revenue (P/Rev)	0.46	0.89	1.28	0.87	1.35	2.60	3.88	1.99	4.04	3.78	2.69
Price to Earnings (P/E)	10.17	23.17	19.79	13.66	21.24	34.18	35.05	15.52	32.78	33.48	34.11
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.84%	4.32%	5.05%	7.32%	4.71%	2.93%	2.85%	6.44%	3.05%	2.99%	2.93%
Enterprise Value to Invested Capital (EV/IC)	1.26	2.13	2.72	1.90	2.68	4.74	7.58	3.79	6.83	4.94	3.25
Enterprise Value to Revenue (EV/Rev)	0.51	0.95	1.38	0.94	1.43	2.62	3.85	1.93	3.94	3.83	2.73
Enterprise Value to EBITDA (EV/EBITDA)	4.05	7.62	10.62	6.39	9.36	15.10	18.46	8.59	17.70	17.72	14.68
Enterprise Value to EBIT (EV/EBIT)	6.97	14.94	20.38	11.01	16.64	26.31	26.25	11.46	24.55	25.42	25.00
Enterprise Value to NOPAT (EV/NOPAT)	10.91	23.36	20.09	14.25	21.56	33.74	34.58	15.01	32.39	33.54	33.22
Enterprise Value to Operating Cash Flow (EV/OCF)	4.31	8.09	12.24	6.06	9.35	15.44	23.05	11.40	19.65	21.07	14.86
Enterprise Value to Free Cash Flow (EV/FCFF)	97.83	0.00	0.00	475.18	0.00	55.54	90.14	53.67	101.66	0.00	243.19
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.15	0.23	0.18	0.17	0.07	0.04	0.02	0.01	0.09	0.06
Long-Term Debt to Equity	0.13	0.12	0.20	0.15	0.14	0.05	0.03	0.01	0.00	0.08	0.06
Financial Leverage	0.19	0.15	0.19	0.19	0.17	0.10	0.00	-0.08	-0.12	-0.02	0.07
Leverage Ratio	1.76	1.68	1.66	1.64	1.69	1.67	1.56	1.44	1.35	1.35	1.36
Compound Leverage Factor	1.68	1.59	1.57	1.58	1.61	1.62	1.54	1.43	1.36	1.33	1.30
Debt to Total Capital	13.88%	13.25%	18.58%	15.01%	14.34%	6.88%	3.97%	1.93%	0.84%	7.97%	5.98%
Short-Term Debt to Total Capital	2.50%	3.01%	1.97%	2.21%	2.04%	1.99%	1.53%	0.90%	0.52%	0.21%	0.04%
Long-Term Debt to Total Capital	11.38%	10.24%	16.61%	12.80%	12.30%	4.88%	2.44%	1.02%	0.32%	7.76%	5.95%
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%	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%	0.00%
Common Equity to Total Capital	86.12%	86.75%	81.42%	84.99%	85.66%	93.12%	96.03%	98.07%	99.16%	92.03%	94.02%
Debt to EBITDA	0.44	0.47	0.73	0.50	0.50	0.22	0.11	0.05	0.03	0.29	0.27
Net Debt to EBITDA	0.44	0.46	0.70	0.50	0.50	0.14	-0.12	-0.25	-0.44	0.26	0.24
Long-Term Debt to EBITDA	0.36	0.37	0.65	0.43	0.43	0.16	0.06	0.03	0.01	0.28	0.27
Debt to NOPAT	1.20	1.45	1.38	1.13	1.15	0.50	0.20	0.09	0.05	0.55	0.62
Net Debt to NOPAT	1.20	1.42	1.33	1.11	1.15	0.32	-0.22	-0.44	-0.80	0.49	0.54
Long-Term Debt to NOPAT	0.98	1.12	1.24	0.96	0.99	0.36	0.12	0.05	0.02	0.53	0.61
Altman Z-Score	3.61	4.46	5.12	4.39	4.58	7.02	11.15	8.57	13.63	10.97	8.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.15	1.22	1.02	0.96	0.99	1.30	1.94	2.01	1.57	1.64
Quick Ratio	0.88	0.94	1.05	0.88	0.81	0.88	1.19	1.74	1.89	1.23	1.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.42	-7.88	-59	3.27	-17	86	98	100	112	-464	36
Operating Cash Flow to CapEx	170.20%	124.42%	86.96%	115.21%	97.10%	141.28%	137.95%	129.41%	132.21%	56.08%	109.34%
Free Cash Flow to Firm to Interest Expense	1.56	-1.79	-11.72	0.60	-2.48	16.61	30.46	38.48	44.06	-51.91	2.21
Operating Cash Flow to Interest Expense	35.51	33.32	31.25	47.33	40.80	59.72	119.11	181.17	227.99	65.36	36.18
Operating Cash Flow Less CapEx to Interest Expense	14.65	6.54	-4.69	6.25	-1.22	17.45	32.77	41.18	55.54	-51.19	3.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.75	1.64	1.59	1.57	1.40	1.23	1.35	1.39	1.21	1.12	0.97
Accounts Receivable Turnover	9.67	9.64	9.20	9.40	9.46	8.82	9.27	9.85	9.57	10.11	9.87
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.39	2.19	2.10	2.03	1.84	1.67	1.89	2.02	1.78	1.49	1.20
Accounts Payable Turnover	15.25	15.70	17.05	19.37	17.44	12.77	12.92	13.90	12.74	13.45	16.35
Days Sales Outstanding (DSO)	37.74	37.85	39.67	38.83	38.58	41.36	39.36	37.07	38.13	36.10	36.97
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	23.93	23.25	21.41	18.84	20.93	28.58	28.26	26.27	28.64	27.13	22.33
Cash Conversion Cycle (CCC)	13.81	14.60	18.26	19.99	17.65	12.78	11.10	10.80	9.49	8.97	14.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	497	555	711	817	951	1,007	1,164	1,423	1,662	2,492	2,722
Invested Capital Turnover	2.59	2.38	2.22	2.17	2.02	1.86	2.11	2.16	1.87	1.55	1.24
Increase / (Decrease) in Invested Capital	51	59	155	106	135	56	157	259	239	830	230
Enterprise Value (EV)	628	1,185	1,932	1,555	2,551	4,775	8,820	5,392	11,354	12,301	8,844
Market Capitalization	559	1,113	1,803	1,434	2,415	4,729	8,876	5,549	11,634	12,120	8,699
Book Value per Share	$17.02	$19.16	$22.85	$27.08	$31.43	$36.75	$46.34	$59.68	$73.13	$86.91	$96.75
Tangible Book Value per Share	$15.95	$18.16	$21.91	$26.20	$30.60	$35.97	$45.61	$59.00	$72.48	$86.29	$96.17
Total Capital	497	557	715	819	952	1,032	1,271	1,610	1,958	2,512	2,742
Total Debt	69	74	133	123	136	71	50	31	16	200	164
Total Long-Term Debt	57	57	119	105	117	50	31	16	6.32	195	163
Net Debt	69	72	128	121	136	46	-56	-156	-280	181	144
Capital Expenditures (CapEx)	86	118	182	223	281	219	277	366	437	1,041	544
Debt-free, Cash-free Net Working Capital (DFCFNWC)	30	37	46	20	10	-8.78	7.72	84	41	143	150
Debt-free Net Working Capital (DFNWC)	30	38	50	22	11	17	114	271	337	163	170
Net Working Capital (NWC)	18	22	36	4.06	-8.87	-4.06	95	257	327	157	169
Net Nonoperating Expense (NNE)	2.57	2.70	5.04	4.13	4.60	3.17	1.80	1.86	-4.36	4.68	11
Net Nonoperating Obligations (NNO)	69	72	128	121	136	46	-56	-156	-280	181	144
Total Depreciation and Amortization (D&A)	65	76	87	102	119	135	142	157	179	210	249
Debt-free, Cash-free Net Working Capital to Revenue	2.45%	2.94%	3.25%	1.21%	0.58%	-0.48%	0.34%	3.01%	1.41%	4.46%	4.65%
Debt-free Net Working Capital to Revenue	2.46%	3.06%	3.59%	1.34%	0.59%	0.91%	4.99%	9.72%	11.69%	5.07%	5.26%
Net Working Capital to Revenue	1.44%	1.72%	2.59%	0.25%	-0.50%	-0.22%	4.15%	9.20%	11.34%	4.91%	5.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.21	$1.92	$3.57	$4.08	$4.38	$5.29	$9.62	$13.48	$13.32	$13.57	$9.54
Adjusted Weighted Average Basic Shares Outstanding	24.92M	25.04M	25.52M	25.76M	25.95M	26.14M	26.32M	26.52M	26.63M	26.69M	26.74M
Adjusted Diluted Earnings per Share	$2.16	$1.87	$3.49	$3.99	$4.30	$5.20	$9.48	$13.40	$13.26	$13.51	$9.52
Adjusted Weighted Average Diluted Shares Outstanding	25.47M	25.68M	26.09M	26.29M	26.44M	26.59M	26.71M	26.67M	26.76M	26.80M	26.79M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	25.19M	25.44M	25.68M	25.85M	26.04M	26.33M	26.40M	26.53M	26.59M	26.63M	26.67M
Normalized Net Operating Profit after Tax (NOPAT)	58	51	66	109	118	140	252	359	351	370	257
Normalized NOPAT Margin	4.73%	4.09%	4.71%	6.62%	6.60%	7.66%	11.01%	12.87%	12.19%	11.53%	7.94%
Pre Tax Income Margin	7.04%	5.99%	6.39%	8.21%	8.21%	9.67%	14.54%	16.76%	16.18%	14.83%	10.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	21.93	18.05	18.77	26.07	22.93	35.05	104.60	180.18	182.47	54.19	21.51
NOPAT to Interest Expense	14.02	11.54	19.04	20.14	17.69	27.33	79.40	137.60	138.26	41.07	16.19
EBIT Less CapEx to Interest Expense	1.07	-8.73	-17.17	-15.01	-19.09	-7.22	18.25	40.19	10.02	-62.37	-11.58
NOPAT Less CapEx to Interest Expense	-6.84	-15.24	-16.90	-20.94	-24.33	-14.93	-6.95	-2.38	-34.18	-75.49	-16.90
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Saia's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	26,669,522.00	26,671,214.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	26,669,522.00	26,671,214.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	1.87	3.53
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.55%	14.27%	18.52%	8.64%	5.04%	4.35%	-0.74%	-0.29%	0.13%	2.37%	17.06%
EBITDA Growth	19.18%	17.56%	14.80%	3.68%	-2.12%	-23.09%	-14.51%	1.67%	-18.25%	0.68%	17.55%
EBIT Growth	20.82%	19.12%	13.75%	-2.06%	-10.36%	-41.19%	-27.30%	-5.07%	-36.70%	-3.24%	26.86%
NOPAT Growth	23.47%	18.13%	14.87%	-2.29%	-10.10%	-40.73%	-28.61%	-5.78%	-36.65%	-3.90%	26.67%
Net Income Growth	25.92%	19.18%	12.26%	-5.56%	-14.71%	-45.08%	-30.36%	-6.93%	-37.56%	0.12%	32.03%
EPS Growth	25.28%	18.60%	11.99%	-5.72%	-14.46%	-44.97%	-30.29%	-6.94%	-37.68%	0.00%	31.46%
Operating Cash Flow Growth	25.38%	-10.73%	-24.03%	45.54%	1.89%	2.45%	30.56%	-2.13%	-16.65%	28.02%	-11.21%
Free Cash Flow Firm Growth	19.39%	-108.36%	-385.95%	-430.87%	-395.32%	2.86%	47.23%	69.39%	76.02%	98.11%	122.23%
Invested Capital Growth	16.78%	39.02%	50.18%	48.72%	49.97%	25.65%	18.47%	12.53%	9.22%	2.29%	0.59%
Revenue Q/Q Growth	-3.10%	0.49%	9.07%	2.29%	-6.31%	-0.17%	3.75%	2.76%	-5.92%	2.06%	18.64%
EBITDA Q/Q Growth	-8.52%	5.33%	13.67%	-5.34%	-13.64%	-17.24%	26.36%	12.58%	-30.56%	1.93%	47.52%
EBIT Q/Q Growth	-11.61%	4.69%	16.19%	-8.91%	-19.10%	-31.31%	43.63%	18.94%	-46.06%	4.99%	88.33%
NOPAT Q/Q Growth	-10.21%	3.42%	15.66%	-9.02%	-17.39%	-31.81%	39.30%	20.07%	-44.46%	3.45%	83.62%
Net Income Q/Q Growth	-9.15%	1.64%	13.04%	-9.53%	-17.95%	-34.55%	43.33%	20.91%	-44.95%	4.95%	89.02%
EPS Q/Q Growth	-9.54%	1.81%	13.31%	-9.66%	-17.92%	-34.51%	43.55%	20.60%	-45.03%	5.08%	88.71%
Operating Cash Flow Q/Q Growth	29.48%	-34.15%	22.83%	38.96%	-9.35%	-33.79%	56.54%	4.16%	-22.80%	1.69%	8.57%
Free Cash Flow Firm Q/Q Growth	-16.11%	-229.09%	-33.07%	-4.40%	-8.34%	35.46%	27.71%	39.44%	15.14%	94.91%	950.33%
Invested Capital Q/Q Growth	2.63%	26.41%	9.56%	4.63%	3.49%	5.91%	3.31%	-0.63%	0.45%	-0.81%	1.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.18%	54.73%	54.78%	52.72%	22.29%	50.58%	52.15%	45.17%	27.37%	43.24%	54.59%
EBITDA Margin	21.18%	22.20%	23.13%	21.41%	19.74%	16.36%	19.93%	21.83%	16.11%	16.09%	20.01%
Operating Margin	15.00%	15.62%	16.71%	14.86%	12.86%	8.91%	12.16%	14.13%	8.10%	8.29%	13.09%
EBIT Margin	15.10%	15.73%	16.75%	14.92%	12.88%	8.86%	12.27%	14.20%	8.14%	8.38%	13.30%
Profit (Net Income) Margin	11.88%	12.02%	12.45%	11.01%	9.65%	6.32%	8.74%	10.28%	6.02%	6.19%	9.85%
Tax Burden Percent	77.18%	76.27%	75.59%	75.60%	77.03%	75.97%	74.70%	75.17%	77.35%	76.68%	75.12%
Interest Burden Percent	101.96%	100.18%	98.33%	97.65%	97.21%	93.92%	95.30%	96.28%	95.49%	96.28%	98.64%
Effective Tax Rate	22.82%	23.73%	24.41%	24.40%	22.97%	24.03%	25.30%	24.83%	22.65%	23.32%	24.88%
Return on Invested Capital (ROIC)	21.63%	19.63%	20.46%	17.70%	15.31%	9.26%	11.70%	13.42%	7.78%	7.74%	12.20%
ROIC Less NNEP Spread (ROIC-NNEP)	20.58%	17.39%	26.67%	24.71%	19.49%	7.26%	10.44%	11.84%	6.55%	6.97%	12.33%
Return on Net Nonoperating Assets (RNNOA)	-2.55%	-0.32%	-0.33%	-0.33%	-0.45%	0.58%	1.04%	0.90%	0.44%	0.49%	0.73%
Return on Equity (ROE)	19.08%	19.31%	20.13%	17.37%	14.86%	9.84%	12.74%	14.31%	8.21%	8.24%	12.93%
Cash Return on Invested Capital (CROIC)	7.24%	-12.48%	-20.41%	-20.53%	-22.32%	-8.80%	-4.96%	-0.27%	1.39%	7.63%	9.80%
Operating Return on Assets (OROA)	18.28%	18.69%	19.65%	17.00%	14.38%	9.37%	12.38%	13.95%	7.92%	7.87%	12.56%
Return on Assets (ROA)	14.39%	14.28%	14.60%	12.55%	10.77%	6.69%	8.81%	10.10%	5.85%	5.81%	9.31%
Return on Common Equity (ROCE)	19.08%	19.31%	20.13%	17.37%	14.86%	9.84%	12.74%	14.31%	8.21%	8.24%	12.93%
Return on Equity Simple (ROE_SIMPLE)	0.00%	18.21%	17.82%	16.81%	0.00%	13.61%	11.90%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	87	90	104	95	78	53	74	89	50	51	94
NOPAT Margin	11.58%	11.92%	12.63%	11.24%	9.91%	6.77%	9.09%	10.62%	6.27%	6.35%	9.83%
Net Nonoperating Expense Percent (NNEP)	1.04%	2.24%	-6.21%	-7.01%	-4.18%	1.99%	1.26%	1.58%	1.23%	0.77%	-0.13%
Return On Investment Capital (ROIC_SIMPLE)	4.44%	-	-	-	3.11%	2.01%	2.70%	3.25%	1.81%	1.87%	3.33%
Cost of Revenue to Revenue	77.82%	45.27%	45.22%	47.28%	77.71%	49.42%	47.85%	54.83%	72.63%	56.76%	45.41%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.18%	39.10%	38.07%	37.86%	9.43%	41.67%	39.99%	31.04%	19.26%	34.95%	41.50%
Earnings before Interest and Taxes (EBIT)	113	119	138	126	102	70	100	119	64	68	127
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	159	168	190	180	156	129	163	183	127	130	191
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.99	7.65	5.90	5.21	5.24	3.94	3.00	3.16	3.37	3.57	4.12
Price to Tangible Book Value (P/TBV)	6.05	7.72	5.95	5.25	5.28	3.97	3.01	3.18	3.40	3.59	4.14
Price to Revenue (P/Rev)	4.04	5.22	4.06	3.67	3.78	2.87	2.26	2.47	2.69	2.88	3.31
Price to Earnings (P/E)	32.78	42.04	33.13	30.99	33.48	28.97	25.16	28.11	34.11	36.73	40.41
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.05%	2.38%	3.02%	3.23%	2.99%	3.45%	3.97%	3.56%	2.93%	2.72%	2.47%
Enterprise Value to Invested Capital (EV/IC)	6.83	7.43	5.55	4.90	4.94	3.63	2.78	3.01	3.25	3.50	4.10
Enterprise Value to Revenue (EV/Rev)	3.94	5.24	4.12	3.72	3.83	2.96	2.35	2.52	2.73	2.90	3.32
Enterprise Value to EBITDA (EV/EBITDA)	17.70	23.41	18.49	16.93	17.72	14.63	12.09	12.93	14.68	15.65	17.81
Enterprise Value to EBIT (EV/EBIT)	24.55	32.40	25.64	23.81	25.42	22.03	19.10	20.86	25.00	26.87	29.73
Enterprise Value to NOPAT (EV/NOPAT)	32.39	42.83	33.82	31.43	33.54	29.03	25.26	27.66	33.22	35.74	39.62
Enterprise Value to Operating Cash Flow (EV/OCF)	19.65	27.61	24.39	20.33	21.07	16.35	12.12	13.11	14.86	15.09	18.55
Enterprise Value to Free Cash Flow (EV/FCFF)	101.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00	243.19	46.34	41.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.01	0.04	0.08	0.09	0.09	0.13	0.13	0.09	0.06	0.04	0.04
Long-Term Debt to Equity	0.00	0.04	0.08	0.08	0.08	0.12	0.13	0.09	0.06	0.04	0.04
Financial Leverage	-0.12	-0.02	-0.01	-0.01	-0.02	0.08	0.10	0.08	0.07	0.07	0.06
Leverage Ratio	1.35	1.36	1.36	1.36	1.35	1.40	1.40	1.38	1.36	1.39	1.39
Compound Leverage Factor	1.38	1.36	1.34	1.33	1.31	1.31	1.34	1.33	1.30	1.34	1.37
Debt to Total Capital	0.84%	3.98%	7.64%	7.88%	7.97%	11.13%	11.26%	7.98%	5.98%	4.12%	3.54%
Short-Term Debt to Total Capital	0.52%	0.35%	0.33%	0.28%	0.21%	0.14%	0.07%	0.04%	0.04%	0.03%	0.00%
Long-Term Debt to Total Capital	0.32%	3.62%	7.31%	7.60%	7.76%	10.99%	11.19%	7.94%	5.95%	4.09%	3.54%
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%	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%	0.00%
Common Equity to Total Capital	99.16%	96.02%	92.36%	92.12%	92.03%	88.87%	88.74%	92.02%	94.02%	95.88%	96.46%
Debt to EBITDA	0.03	0.13	0.26	0.27	0.29	0.45	0.49	0.35	0.27	0.19	0.16
Net Debt to EBITDA	-0.44	0.11	0.24	0.25	0.26	0.43	0.46	0.29	0.24	0.12	0.03
Long-Term Debt to EBITDA	0.01	0.11	0.24	0.26	0.28	0.45	0.49	0.35	0.27	0.19	0.16
Debt to NOPAT	0.05	0.23	0.47	0.51	0.55	0.90	1.03	0.74	0.62	0.43	0.35
Net Debt to NOPAT	-0.80	0.20	0.44	0.47	0.49	0.85	0.97	0.62	0.54	0.28	0.06
Long-Term Debt to NOPAT	0.02	0.21	0.45	0.49	0.53	0.88	1.02	0.74	0.61	0.42	0.35
Altman Z-Score	13.18	14.79	11.35	10.28	10.57	7.50	6.24	6.90	7.73	7.94	8.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.01	1.23	1.36	1.26	1.57	1.43	1.49	1.68	1.64	1.52	1.58
Quick Ratio	1.89	1.06	1.18	1.12	1.23	1.12	1.21	1.35	1.33	1.27	1.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-152	-500	-665	-694	-752	-485	-351	-213	-180	-9.17	78
Operating Cash Flow to CapEx	163.70%	23.31%	58.26%	94.67%	98.27%	53.98%	98.40%	252.25%	140.04%	219.12%	160.76%
Free Cash Flow to Firm to Interest Expense	-162.41	-922.01	-275.70	-231.66	-252.49	-113.29	-74.00	-47.41	-61.47	-3.56	38.09
Operating Cash Flow to Interest Expense	172.92	196.44	54.22	60.63	55.30	25.45	36.01	39.67	46.80	54.25	74.02
Operating Cash Flow Less CapEx to Interest Expense	67.29	-646.41	-38.84	-3.41	-0.97	-21.70	-0.58	23.94	13.38	29.49	27.98
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.21	1.19	1.17	1.14	1.12	1.06	1.01	0.98	0.97	0.94	0.94
Accounts Receivable Turnover	9.57	9.29	9.19	8.83	10.11	9.30	8.95	8.77	9.87	8.94	8.80
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.78	1.59	1.57	1.53	1.49	1.32	1.26	1.22	1.20	1.17	1.19
Accounts Payable Turnover	12.74	12.09	12.95	12.39	13.45	11.49	12.59	13.06	16.35	12.46	12.72
Days Sales Outstanding (DSO)	38.13	39.30	39.71	41.34	36.10	39.23	40.78	41.64	36.97	40.85	41.48
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	28.64	30.19	28.19	29.46	27.13	31.76	28.99	27.94	22.33	29.29	28.70
Cash Conversion Cycle (CCC)	9.49	9.10	11.51	11.88	8.97	7.47	11.79	13.70	14.64	11.56	12.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,662	2,101	2,302	2,408	2,492	2,639	2,727	2,710	2,722	2,700	2,743
Invested Capital Turnover	1.87	1.65	1.62	1.57	1.55	1.37	1.29	1.26	1.24	1.22	1.24
Increase / (Decrease) in Invested Capital	239	590	769	789	830	539	425	302	230	60	16
Enterprise Value (EV)	11,354	15,602	12,776	11,803	12,301	9,584	7,588	8,157	8,844	9,442	11,249
Market Capitalization	11,634	15,531	12,610	11,627	12,120	9,305	7,297	7,974	8,699	9,368	11,233
Book Value per Share	$73.13	$76.07	$80.34	$83.92	$86.91	$88.64	$91.48	$94.83	$96.75	$98.47	$102.23
Tangible Book Value per Share	$72.48	$75.43	$79.71	$83.30	$86.29	$88.03	$90.88	$94.24	$96.17	$97.90	$101.67
Total Capital	1,958	2,113	2,313	2,422	2,512	2,656	2,746	2,745	2,742	2,739	2,827
Total Debt	16	84	177	191	200	296	309	219	164	113	100
Total Long-Term Debt	6.32	77	169	184	195	292	307	218	163	112	100
Net Debt	-280	72	166	177	181	279	290	184	144	74	16
Capital Expenditures (CapEx)	99	457	224	192	168	202	174	71	98	64	94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	41	74	115	83	143	129	131	167	150	132	133
Debt-free Net Working Capital (DFNWC)	337	86	126	97	163	146	150	202	170	172	217
Net Working Capital (NWC)	327	78	118	91	157	142	148	201	169	171	217
Net Nonoperating Expense (NNE)	-2.27	-0.76	1.49	1.88	2.07	3.50	2.86	2.85	2.00	1.36	-0.20
Net Nonoperating Obligations (NNO)	-280	72	166	177	181	279	290	184	144	74	16
Total Depreciation and Amortization (D&A)	46	49	53	55	54	59	63	64	63	62	64
Debt-free, Cash-free Net Working Capital to Revenue	1.41%	2.48%	3.69%	2.62%	4.46%	3.98%	4.06%	5.16%	4.65%	4.07%	3.92%
Debt-free Net Working Capital to Revenue	11.69%	2.89%	4.05%	3.07%	5.07%	4.49%	4.65%	6.26%	5.26%	5.28%	6.39%
Net Working Capital to Revenue	11.34%	2.64%	3.81%	2.86%	4.91%	4.38%	4.58%	6.22%	5.23%	5.25%	6.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.34	$3.40	$3.84	$3.47	$2.86	$1.86	$2.67	$3.23	$1.78	$1.86	$3.52
Adjusted Weighted Average Basic Shares Outstanding	26.63M	26.67M	26.69M	26.70M	26.69M	26.72M	26.74M	26.75M	26.74M	26.76M	26.78M
Adjusted Diluted Earnings per Share	$3.32	$3.38	$3.83	$3.46	$2.84	$1.86	$2.67	$3.22	$1.77	$1.86	$3.51
Adjusted Weighted Average Diluted Shares Outstanding	26.76M	26.79M	26.80M	26.79M	26.80M	26.79M	26.79M	26.79M	26.79M	26.81M	26.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	26.59M	26.59M	26.59M	26.60M	26.63M	26.63M	26.64M	26.64M	26.67M	26.67M	26.67M
Normalized Net Operating Profit after Tax (NOPAT)	87	90	104	95	81	54	74	79	50	52	96
Normalized NOPAT Margin	11.60%	11.94%	12.67%	11.29%	10.22%	6.83%	9.09%	9.40%	6.32%	6.45%	10.00%
Pre Tax Income Margin	15.39%	15.75%	16.47%	14.57%	12.52%	8.32%	11.70%	13.68%	7.78%	8.07%	13.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	121.27	219.00	57.18	41.92	34.12	16.29	21.15	26.60	21.93	26.24	62.11
NOPAT to Interest Expense	93.00	165.93	43.12	31.58	26.24	12.44	15.66	19.89	16.88	19.90	45.93
EBIT Less CapEx to Interest Expense	15.64	-623.84	-35.88	-22.13	-22.16	-30.86	-15.44	10.88	-11.49	1.48	16.07
NOPAT Less CapEx to Interest Expense	-12.63	-676.92	-49.93	-32.47	-30.03	-34.72	-20.93	4.16	-16.54	-4.86	-0.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Saia’s latest quarter shows a business that is still profitable and generating strong operating cash, but its operating margins have clearly softened compared with last year. In Q1 2026, revenue rose slightly year over year to $806.2 million from $787.6 million, but net income fell to $49.9 million from $49.8 million in Q1 2025 after a much stronger Q1 2024. The bigger story is margin pressure: cost of revenue consumed a larger share of sales, and operating income as a percentage of revenue was lower than in the stronger 2024 period.

Profitability remains solid, but the trend is mixed. On a sequential basis, Q1 2026 net income improved from Q4 2025’s $47.5 million, and operating income improved to $66.8 million from $64.0 million. However, compared with Q3 2025 and especially Q2 2025, current-quarter profitability is down meaningfully. That suggests Saia is still earning money, but at a less efficient level than earlier in the year.

Cash generation continues to be a strength. Q1 2026 operating cash flow came in at $139.6 million, well above reported net income, which is a healthy sign for a trucking company with heavy depreciation. Free cash flow was pressured by capital spending, as the company spent $66.1 million on PP&E in the quarter, but the underlying cash engine is still working.

The balance sheet looks manageable, with leverage lower than it was a year ago. Total debt fell to $112.8 million at March 31, 2026, from $219.2 million at September 30, 2025 and $598.9 million at June 30, 2025. Cash and equivalents were $39.2 million, up from $35.5 million at the end of Q3 2025. Total liabilities declined sharply from the prior quarter, which is a positive sign for financial flexibility.

At the same time, Saia is still a capital-intensive business. Net PP&E was $2.85 billion in Q1 2026, and gross PP&E was $4.30 billion. That means the company must keep investing heavily in terminals, equipment, and infrastructure to support growth. High depreciation expense also remains a meaningful drag on reported earnings.

Here are the most important takeaways for retail investors:

Operating cash flow remains strong at $139.6 million in Q1 2026, comfortably above net income.
Debt levels improved materially versus mid-2025, with total debt down to $112.8 million.
Revenue grew year over year to $806.2 million from $787.6 million in Q1 2025.
Quarterly net income remained positive at $49.9 million.
Capital spending remains elevated as Saia continues to invest in PP&E and network capacity.
Cash balance improved modestly to $39.2 million, but it is not especially large relative to the size of the business.
EPS was stable at $1.86 in Q1 2026, roughly in line with Q1 2025.
Operating margins have weakened versus the stronger 2024 period.
Cost of revenue remains high, pressuring gross margin and limiting earnings upside.
Free cash flow is reduced by heavy capex, which can limit near-term capital returns.

Bottom line: Saia still looks financially healthy, with positive earnings, solid cash flow, and a much lighter debt load than it had just a few quarters ago. The main concern is not solvency, but execution: margins have cooled, and the company is spending heavily to maintain and expand its network. For investors, that makes SAIA a high-quality operator, but one that still needs to prove it can turn revenue growth into stronger profit growth again.

08/12/26 05:26 AM ETAI Generated. May Contain Errors.

Saia Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Saia's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Saia's net income appears to be on an upward trend, with a most recent value of $255.04 million in 2025, rising from $55.02 million in 2015. The previous period was $362.07 million in 2024. Find out what analysts predict for Saia in the coming months.

Saia's total operating income in 2025 was $352.20 million, based on the following breakdown:

Total Gross Profit: $1.42 billion
Total Operating Expenses: $1.07 billion

Over the last 10 years, Saia's total revenue changed from $1.22 billion in 2015 to $3.23 billion in 2025, a change of 164.8%.

Saia's total liabilities were at $904.98 million at the end of 2025, a 5.8% increase from 2024, and a 200.4% increase since 2015.

In the past 10 years, Saia's cash and equivalents has ranged from $124 thousand in 2015 to $296.22 million in 2023, and is currently $19.72 million as of their latest financial filing in 2025.

Over the last 10 years, Saia's book value per share changed from 17.02 in 2015 to 96.75 in 2025, a change of 468.4%.

Related Companies

Financial statements for NASDAQ:SAIA last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Saia (SAIA) Financials

Financials Breakdown Chart

Key Financial Trends

Saia Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Saia (SAIA) Financials

Annual Income Statements for Saia

Quarterly Income Statements for Saia

Annual Cash Flow Statements for Saia

Quarterly Cash Flow Statements for Saia

Annual Balance Sheets for Saia

Quarterly Balance Sheets for Saia

Annual Metrics And Ratios for Saia

Quarterly Metrics And Ratios for Saia

Financials Breakdown Chart

Key Financial Trends

Saia Financials - Frequently Asked Questions

When does Saia's fiscal year end?

How has Saia's net income changed over the last 10 years?

What is Saia's operating income?

How has Saia's revenue changed over the last 10 years?

How much debt does Saia have?

How much cash does Saia have?

How has Saia's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools