JBHTHUNT J B TRANSPORT SERVICES INC

Trucking (no Local)

Revenue: $12.0B; 0.7% YoY
Operating margin: 7.2%; 4.8% YoY
EBITDA: $1.6B; 0.8% YoY
Market cap: $20.9B
Employees: 15,131; $793K revenue each
Net debt / EBITDA: 0.6×; $974M net debt
AI in 10-K: 3.0; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
281% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
65% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
2% of assets
Over 40% of assets
Shareholder dissentNo
93% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$793K per employee
Bottom quartile of its SIC industry
Quiet on AINo
3.0 per 10K words · 70th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.6× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$20.9B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$13M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$12.2B	$14.8B	$12.8B	$12.1B	$12.0B	0.7%
Operating income	$1.0B	$1.3B	$993M	$831M	$865M	4.1%
Net income	$761M	$969M	$728M	$571M	$598M	4.8%
Operating cash flow	$1.2B	$1.8B	$1.7B	$1.5B	$1.7B	13%
Capex	$948M	$1.5B	$1.9B	$865M	$731M	16%
Stock-based comp	$62M	$78M	$79M	$66M	$72M	9.2%
Buybacks	$152M	$300M	$160M	$514M	$923M	80%
Dividends	$124M	$167M	$174M	$176M	$171M	2.6%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $2K · 1
Open-market sells, 12 mo: $13M · 23
Net: −$13M

Pay vs performance

No pay-versus-performance disclosure yet.