KNX on NYSE

Knight-Swift Transportation

American truckload transportation company

Knight-Swift Transportation Holdings Inc. (referred to as Knight-Swift) is a publicly traded American motor carrier holding company based in Phoenix, Arizona.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

2017Founded1

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  • TickerKNX on NYSE1
  • IndustryTrucking (No Local)1
  • HeadquartersPhoenix1
  • Websiteknight-swift.com
  • Business address2200 South 75Th Avenue, Phoenix, Az 850435
  • Filer categoryLarge accelerated filer5
  • Legal formCorporation4
  • LEI2549007VHKP3K6E1XF674
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O NATIONAL REGISTERED AGENTS, INC., 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 48245874

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Red Semi-Truck (2543453615)
Photo: Rennett Stowe from USA, CC BY 2.0, via Wikimedia Commons7

Knight-Swift Transportation Holdings Inc. (referred to as Knight-Swift) is a publicly traded American motor carrier holding company based in Phoenix, Arizona. The company's primary subsidiaries are truckload carriers Knight Transportation, Swift Transportation, Midnite Express and, since July 2021, less than truckload (LTL) carrier AAA Cooper. Knight-Swift has continued to grow through acquisitions including its 2023 purchase of major truckload carrier U.S. Xpress.3

Financials

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

Key numbers, fiscal 2025

2.9%Operating margin8
0.9%Net margin8
0.8%Revenue growth, 20258
0.9%Return on equity8
0.25×Debt to equity8

What sells

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

Products and services

Revenue, excluding truckload fuel surcharge brought in 90% of the revenue Knight-Swift Transportation broke down this way in fiscal 2025.

  1. Revenue, excluding truckload fuel surcharge$6.7B890%up 1% from 2024
  2. Truckload Fuel Surcharge Revenue$777.6M810%down 3% from 2024
Products and services by year
Products and services202320242025
Revenue, excluding truckload fuel surcharge$6.3B$6.6B$6.7B
Truckload Fuel Surcharge Revenue$833.6M$798.1M$777.6M

Business segments

Trucking brought in 67% of the revenue Knight-Swift Transportation broke down this way in fiscal 2025.

  1. Trucking$4.9B867%down 3% from 2024
  2. LTL$1.5B820%up 20% from 2024
  3. Logistics$570.3M88%up 0% from 2024
  4. Intermodal$364.9M85%down 6% from 2024
Business segments by year
Business segments202320242025
Trucking$4.7B$5.0B$4.9B
LTL$1.1B$1.2B$1.5B
Logistics$582.2M$570.0M$570.3M
Intermodal$410.5M$387.2M$364.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs99¢$7.4B
  • Income tax0¢$29.8M
  • Profit1¢$65.9M

Out of $7.5B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid9¢$117.4M
  • Kept or used elsewhere91¢$1.1B

Out of $1.3B of cash from operations.8

Financial statements

Revenue91011128$7.5B in 2025+54% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $4.8B$4.8B20192020: $4.7B$4.7B2020−4%2021: $6.0B$6.0B2021+28%2022: $7.4B$7.4B2022+24%2023: $7.1B$7.1B2023−4%2024: $7.4B$7.4B2024+4%2025: $7.5B$7.5B2025+1%
Operating income91011128$216.1M in 2025−49% since 2019
0$500.0M$1.0B$1.5B2019: $427.4M$427.4M20192020: $564.4M$564.4M2020+32%2021: $965.7M$965.7M2021+71%2022: $1.1B$1.1B2022+13%2023: $338.2M$338.2M2023−69%2024: $243.4M$243.4M2024−28%2025: $216.1M$216.1M2025−11%
Net income91011128$65.9M in 2025−79% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $309.2M$309.2M20192020: $410.0M$410.0M2020+33%2021: $743.4M$743.4M2021+81%2022: $771.3M$771.3M2022+4%2023: $217.1M$217.1M2023−72%2024: $117.6M$117.6M2024−46%2025: $65.9M$65.9M2025−44%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Total revenue$7.5B$7.4B$7.1B
Salaries, wages, and benefits$3.0B$2.8B$2.5B
Fuel$838.8M$871.1M$878.4M
Operations and maintenance$548.4M$546.9M$473.5M
Insurance and claims$385.1M$415.7M$609.5M
Operating taxes and licenses$135.1M$127.5M$117.0M
Communications$29.3M$31.2M$29.7M
Depreciation and amortization of property and equipment$711.1M$717.5M$665.0M
Amortization of intangibles$77.0M$75.3M$70.1M
Rental expense$166.8M$171.7M$130.3M
Purchased transportation$1.1B$1.2B$1.2B
Impairments$98.3M$19.0M$2.2M
Miscellaneous operating expenses$179.0M$198.1M$157.3M
Total operating expenses$7.3B$7.2B$6.8B
Operating income$216.1M$243.4M$338.2M
Interest income$10.9M$16.6M$21.6M
Interest expense-$161.8M-$171.2M-$127.1M
Other income, net$30.1M$60.3M$37.7M
Total other expenses, net-$120.7M-$94.3M-$67.9M
Income before income taxes$95.3M$149.0M$270.3M
Income tax expense$29.8M$33.0M$54.8M
Net income$65.6M$116.1M$215.5M
Net loss attributable to noncontrolling interest$392.0K$1.5M$1.6M
Net income attributable to Knight-Swift$65.9M$117.6M$217.1M
Other comprehensive (loss) income-$274.0K$388.0K$1.6M
Comprehensive income$65.7M$118.0M$218.8M
Basic earnings per share$0.41$0.73$1.35
Diluted earnings per share$0.41$0.73$1.34
Dividends declared per share: (in dollars per share)$0.72$0.64$0.56
Basic (in shares)162.2M shares161.7M shares161.2M shares
Diluted (in shares)162.6M shares162.2M shares161.8M shares

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The story

Knight Transportation was founded in 1990 by four cousins: brothers Randy and Gary Knight, and brothers Kevin and Keith Knight. The four cousins worked for Swift Transportation, also based in Phoenix, and Randy was even a part-owner in Swift when Jerry Moyes bought out his interest. The Moyes family and the Knight family both were raised in Plain City, Utah, before moving to Phoenix in the late 1960s.

Knight began transporting general commodities from Phoenix, Arizona, to Los Angeles, California. Starting with just a handful of trucks and one service center in Phoenix, Arizona, the company now runs a fleet of over 4,000 trucks and more than 8,700 trailers (dry, refrigerated, and brokerage). Revenues have grown from over 13 million in 1991 to over $866 million in 2011, with operating ratios at or near 80% year after year. They have grown from a few associates to more than 4,000, and from a family-owned business to a publicly held company trading on the New York Stock Exchange (KNX) in 1994.

In 2017, Knight Transportation merged with Swift Transportation and Knight-Swift Transportation Holdings Inc. was formed to serve as the parent company for both carriers.

In 2019, Knight-Swift settled a $100 million class-action lawsuit alleging the company failed to classify 20,000 owner-operator drivers as employees. Drivers were not paid the minimum hourly wage in accordance with the Fair Labor Standards Act and had their rights violated under the forced labor statute. The lawsuit from March 11, 2009 is entitled Van Dusen, et al. v. Swift Transportation Co. of Arizona, LLC, et al.. The deadline for claimants to file was December 14, 2019.

Knight-Swift expanded from its core truckload market into less than truckload (LTL) freight in July 2021 when it acquired southeastern regional LTL firm AAA Cooper Transportation for US$1.35 billion.

Further acquisitions have expanded Knight-Swift's footprint in LTL including its January 2022 acquisition of Midwest Motor Express and July 2024 purchase of Los Angeles-based Dependable Highway Express, Inc. from Dependable Supply Chain Services. In July 2023 Knight-Swift acquired truckload carrier U.S. Xpress.

From Wikipedia’s article on Knight-Swift, shared under CC BY-SA 4.0.6

Leadership

Who has led Knight-Swift Transportation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jerry Moyes2010–2016
  2. Richard Stocking2017
  3. Reid Dove2026–now

Chair

  1. Kevin P. Knight2017–now

President

  1. Richard Stocking2010–2017
  2. Joseph A. Vitiritto2026–now

Chief financial officer

  1. Virginia Henkels2010–2017
  2. Michelle K. Lewis2024–now

Chief operating officer

  1. Kevin Quast2017–2022
  2. Wilburn Douglas Prickett Iii.2021–2024
  3. James L. Fitzsimmons2024–now
201520202025
Board members and other officers (44)

Products and brands

Knight engages in the transportation of general commodities in the United States. It provides asset-based dry van truckload and temperature controlled truckload carrier services primarily to short to medium lengths of haul. The company also offers non-asset-based brokerage services. As of 2022, the company operates 41 service centers (31 in the USA, 11 in Mexico), 5 secured yards in Canada, and Swift Truckload centers in housing dry vans, flatbed, refrigerated, and cross-border services.

Knight-Swift is ranked 66th in pay for drivers among major trucking companies. In 2022, Knight-Swift announced plans for using autonomous vehicles in its trucking lines, through a partnership with Embark Technology.

From Wikipedia’s article on Knight-Swift, shared under CC BY-SA 4.0.6

Former names

  • SWIFT TRANSPORTATION CoAug 18, 2010 to Aug 30, 20175
  • SWIFT HOLDINGS CORP.Jul 22, 2010 to Nov 8, 20105

Timeline

  1. Aug 14, 2026New chief executive Reid Dove becomes CEO18
  2. Mar 2, 2017New chief executive Richard Stocking becomes CEO19
  3. 2017Founded Founded1
  4. Dec 14, 2010New chief executive Jerry Moyes becomes CEO20

Filings

471 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 67 major events, 314 insider forms, 39 large holders, 31 other. The latest 20:

  1. Oct 13, 2026SCHEDULE 13G EDGAR
  2. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  3. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  4. Aug 13, 2026144 EDGAR
  5. Aug 13, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 12, 2026144 EDGAR
  7. Aug 6, 20268-K EDGAR
  8. Aug 6, 2026SCHEDULE 13G/A EDGAR
  9. Jul 31, 2026144 EDGAR
  10. Jul 31, 20264 PRIMARY DOCUMENT EDGAR
  11. Jul 31, 20264 PRIMARY DOCUMENT EDGAR
  12. Jul 29, 202610-Q EDGAR
  13. Jul 22, 20268-K EDGAR
  14. Jun 23, 2026144 EDGAR
  15. Jun 8, 2026144 EDGAR
  16. Jun 4, 20268-K EDGAR
  17. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  18. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 1, 20264 PRIMARY DOCUMENT EDGAR

The 471 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

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

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 1 buys and 52 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 13, 2026Dove ReidCEO AAA Cooper TransportationSale126,864$73.13$9.3MForm 4
Aug 12, 2026Dove ReidCEO AAA Cooper TransportationSale42,290$71.49$3.0MForm 4
Aug 12, 2026Vander Ploeg DavidDirectorSale2,200$52.33$115.1KForm 4
Jul 31, 2026Dove ReidCEO AAA Cooper TransportationSale50,000$70.25$3.5MForm 4
Jul 31, 2026Flanagan Cary MExec VP and CAOSale3,600$70.82$255.0KForm 4
Feb 26, 2026Smith JoshuaCFO - US XpressSale5,770$60.91$351.5KForm 4
Feb 20, 2026KNIGHT KEVIN PExecutive ChairmanSale30,000$61.00$1.8MForm 4
Feb 18, 2026KNIGHT KEVIN PExecutive ChairmanSale38,857$59.96$2.3MForm 4
Feb 17, 2026KNIGHT KEVIN PExecutive ChairmanSale31,143$60.07$1.9MForm 4
Feb 10, 2026Harrington Timothy SeanPres - US XpressSale8,500$59.81$508.4KForm 4
Feb 4, 2026Fitzsimmons James LCOO Swift TransportationSale5,917$54.77$324.1KForm 4
Feb 4, 2026Liu Michael KEVP - OperationsSale1,243$60.87$75.7KForm 4
Dec 9, 2025KNIGHT KEVIN PExecutive ChairmanSale35,000$51.01$1.8MForm 4
Dec 4, 2025Stultz ReedSR VP - LogisticsSale4,692$51.51$241.7KForm 4
Nov 7, 2025Flanagan Cary MExec VP and CAOSale4,300$45.04$193.7KForm 4
Sep 3, 2025Liu Michael KEVP - OperationsSale3,420$43.41$148.5KForm 4
May 28, 2025Harrington Timothy SeanPres - US XpressSale1,200$44.04$52.8KForm 4
Mar 13, 2025COL DOUGLAS LDirectorBuy5,000$45.37$226.8KForm 4
Nov 14, 2024Vander Ploeg DavidDirectorSale500$57.10$28.6KForm 4
Nov 13, 2024KNIGHT KEVIN PExecutive ChairmanSale29,779$57.19$1.7MForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

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

Held by these funds

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

FundSharesValueShare of the fundChange
BlackRock, Inc.17,215,886$1.3B0.0%+2,284,371
Dimensional Fund Advisors LP8,559,415$666.5M0.1%+101,327
Fmr LLC8,061,153$627.7M0.0%−1,645,514
Vanguard Capital Management LLC7,061,941$549.9M0.0%+31,074
Vanguard Portfolio Management LLC6,459,119$503.0M0.0%−147,221
State Street Corp5,208,839$405.6M0.0%+121,272
Invesco Ltd.5,148,259$400.9M0.0%+1,485,456
Victory Capital Management Inc4,786,891$372.8M0.2%−1,547,040
Aqr Capital Management LLC4,488,969$349.6M0.1%+1,078,051
Slate Path Capital LP3,411,000$265.6M3.7%−1,207,200
Morgan Stanley3,295,823$256.6M0.0%−93,997
Hood River Capital Management LLC3,058,241$238.1M1.7%+381,285
Geode Capital Management, LLC2,994,062$233.2M0.0%+25,885
Ameriprise Financial Inc2,658,723$207.0M0.0%+569,222
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main2,234,038$174.0M0.1%−216,566
Manning & Napier Advisors LLC2,221,397$173.7M2.2%New
Norges Bank2,153,384$167.7M0.0%New
Allspring Global Investments Holdings, LLC2,156,453$166.8M0.3%−2,103,816
Citadel Advisors LLC2,099,359$163.5M0.1%+25,875
PointState Capital LP1,994,977$155.3M2.7%New
Bank Of America Corp /de/1,833,698$142.8M0.0%+965,500
Wellington Management Group Llp1,793,898$139.7M0.0%−4,151,067
Holocene Advisors, LP1,748,797$136.2M0.3%−9,928
Two Sigma Investments, LP1,718,786$133.8M0.1%+1,498,672
Bank of New York Mellon Corp1,503,584$117.1M0.0%+155,020

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

Members of Congress who traded it

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

DateMemberTradeAmountVs S&P sinceFiling
Jun 26, 2025Val T. HoyleDemocratic, HouseBuy$1,001 - $15,000+21.5%Report
Apr 2, 2020Thomas R Carper, SenateSale$1,001 - $15,000+95.1%Report

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

Sources

The numbers on this page point here. Each one links to the record it came from.

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