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Marten Transport LTD (MRTN) stock

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NASDAQ: MRTN Nasdaq Cargo Ground Transportation Next results ~January 26, 2027

C Fundamentals grade

Marten Transport LTD is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$7.0

Cash-flow model

Base case. Range ~$5.6–$8.9 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 42% below it.

Price used: $12.02, November 2, 2026

Marten Transport LTD valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds116 adding, 104 cuttingOf 36 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Marten Transport files

Where Marten Transport LTD stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $858m, down 6.9% on a year earlier, a smaller fall than the 7.8% decline a quarter earlier. Free-cash-flow margin fell to -1.8% from 1.4% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $6.67 a share, against a share price of $11.67. At that price, our model says the market is pricing in about 13.6% a year of cash-flow growth for five years, faster than the -2.5% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Marten Transport LTD's trailing-twelve-month revenue fell 6.9% year on year, with a free-cash-flow margin of -1.8%. Where it stands out: stock pay as % of revenue of 0.2% ranks 3 of 15 cargo ground transportation companies we cover. Where it lags: revenue growth of -6.9% ranks 16 of 19 cargo ground transportation companies we cover.

Our discounted-cash-flow model values the business at ~$7.0 per share in the base case (~$5.6–$8.9 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -6.9% (+0.9pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Priced above our value. The share price of $12.02 is 42% above our value per share of $7.
  • Revenue shrinking. Revenue fell 6.9% over the last 12 months.
  • Burning cash. Free cash flow was -1.8% of revenue over the last 12 months.
  • High earnings multiple. The shares trade at 78 times the last 12 months' earnings, so expectations are demanding.
  • Weak cash conversion. Free cash flow was -123% of net income over the last 12 months.
  • Below peers: change in growth rate. Change in growth rate of +0.9pp ranks 16 of 19 cargo ground transportation companies we cover (median +3.0pp).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.04 against an average estimate of $0.06: missed by 33.3%
Revenue
$224m, down 2.8% on a year earlier
Share reaction
-7.0% in the first session after the results on October 22, 2026, against -1.7% for the S&P 500
Next report
October 22, 2026; average EPS estimate $0.08

Marten Transport's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.6%
  • 1 week+1.8%
  • 1 month-9.9%
  • This year+7.0%
  • 1 year+19.4%
  • 5 years-25.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$858M
Operating margin
1.8%
Net margin
1.5%
EPS (TTM, diluted)
$0.15

Growth

Revenue growth
−6.9%
Change in growth rate
+0.9 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
-$15.5M
FCF margin
-1.8%
Stock pay % of revenue
0.2%

Earnings

Last results
October 22, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Marten Transport LTD valuation models and calculator

What the price is pricing in

The share price implies about 14.1% a year of cash-flow growth for five years.That is faster than the -2.5% a year revenue growth Marten Transport has delivered.

  • Priced in14.1%
  • Last 12 months-6.9%
  • 3 years a year-11.3%
  • 5 years a year-2.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($11.93, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$7.0
Price used
$11.93close November 3, 2026
Implied change
▼ 41%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Marten Transport LTD's free cash flow after stock-based pay with after-tax interest added back ($26.5M, FY2026 Q2 TTM), growing 5.7% and 3.6% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$5.6–~$8.9 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Marten Transport LTD's free cash flow after stock-based pay ( $26.5M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Marten Transport LTD as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.82 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$7.0 ~$5.6–$8.9 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$8.3 ~$7.6–$13 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.7 ~$6.2–$12 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$8.3 ~$7.0–$10 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7.9 ~$7.0–$8.7 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Marten Transport LTD with Cargo Ground Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6$8$10$13$17$22
8.5% $5$6$8$10$13$16
10% $4$5$6$8$10$13

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$5.78$7.65$11.16$8.94$12.35$15.40$16.00$18.68$20.05$15.12$11.24$12.02
Market value$487m$625m$918m$740m$1.0bn$1.3bn$1.3bn$1.5bn$1.6bn$1.2bn$916m$980m
+ Net debt (− = net cash)$37m$7m−$16m−$57m−$31m−$66m−$57m−$81m−$53m−$17m−$43m−$104m
Enterprise value$525m$632m$902m$683m$989m$1.2bn$1.3bn$1.5bn$1.6bn$1.2bn$873m$876m
Multiples
Price / sales 0.7x0.9x1.3x0.9x1.2x1.5x1.4x1.2x1.4x1.3x1.0x1.1x
Price / earnings 13.6x18.7x10.2x13.4x16.7x18.4x15.6x13.9x23.2x45.8x52.5x77.5x
Price / free cash flow ————————————
EV / EBITDA 3.8x4.5x6.4x4.3x5.8x6.2x6.0x5.7x7.6x8.4x6.8x7.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard Marten Transport's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Net income has been a median 7.6% of total assets over 10 years.

  • Durability 5 / 20

    Operating margin has been a median 9.0%; its worst year was 1.8%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 6.2% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 2.1% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.20 −6% $890m +1%
Next $0.52 +163% $966m +9%

Next year's EPS estimate has moved −21.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −34.4% on 90 days ago. In the last 30 days, 1 analyst raised Marten Transport LTD's forecast and 0 cut it.

Consensus EPS forecast Marten Transport LTD, last 90 days
$0.00 $0.20 $0.40 $0.60 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.30 Current fiscal year, 60 days ago: $0.30 Current fiscal year, 30 days ago: $0.30 Current fiscal year, 7 days ago: $0.24 Current fiscal year, Now: $0.20 $0.20 Next fiscal year, 90 days ago: $0.66 Next fiscal year, 60 days ago: $0.66 Next fiscal year, 30 days ago: $0.66 Next fiscal year, 7 days ago: $0.60 Next fiscal year, Now: $0.52 $0.52

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.30$0.66
60 days ago $0.30$0.66
30 days ago $0.30$0.66
7 days ago $0.24$0.60
Now $0.20$0.52

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.06 $0.04 −33.3%
Jun 2026 $0.07 $0.07 −6.7%
Mar 2026 $0.02 $0.02 −19.6%
Dec 2025 $0.03 $0.05 +99.3%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Marten Transport LTD's revenue by +5.7% next year and +3.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.2%, weight 60%) and the company's own record (+2.0%, weight 40%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy133%
Hold267%
Sell00%

Monthly trend

  1. Oct 2026123
  2. Sep 2026123
  3. Aug 2026123
  4. Jul 2026123

Counts of recommendations published by analysts covering Marten Transport LTD, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.1%
of tradable shares
Days to cover
3.77
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
29.3%
of shares
Employees
3,502
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +19.4%

$10.07 on October 31, 2025 to $12.02

ThenNowEffect
Revenue (last 12 months) $921m $858m −6.9%
Net margin 2.3% 1.5% −35.1%
P/E multiple 39.2x 77.5x +97.6%
Share count 82m 82m −0.1%

Biggest factor: p/e multiple.

Last 3 years −31.3%

$17.49 on November 3, 2023 to $12.02

ThenNowEffect
Revenue (last 12 months) $1.2bn $858m −30.3%
Net margin 7.8% 1.5% −81.0%
P/E multiple 14.9x 77.5x +420.8%
Share count 81m 82m −0.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MRTN+4%+17%+7%−25%−26%+7%
Industry peers (median)+38%−13%+16%−9%−12%+14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MRTN50%42%50%50%25%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MRTN−18%−24%−25%−26%−42%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 58% from August 7, 2023 to November 19, 2025. Getting back needed a 138% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.24 – $18.14
From 52-week high
−33.7%
vs 50-day average
−8.7%
vs 200-day average
−16.5%
Volatility (1 year)
31%
Beta vs S&P 500
0.80

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±3.3%
After a week
4 up, 8 down
typical move ±5.5%
After a month
4 up, 7 down
typical move ±8.1%
Results releasedNext dayS&P 500 next day5 days21 days
October 22, 2026 −7.0% −1.7% −7.1% —
July 23, 2026 −5.9% −1.1% −14.5% −13.8%
April 23, 2026 +0.3% +0.4% +2.2% +13.2%
January 27, 2026 −0.2% +0.4% +8.2% +8.6%
October 23, 2025 −9.7% +1.4% −8.6% −8.6%
July 16, 2025 −0.9% +0.9% −1.1% −7.5%
April 16, 2025 −0.2% −2.1% +0.3% +3.6%
January 27, 2025 −1.6% −0.6% −5.1% −9.4%
October 17, 2024 −5.3% +0.4% −8.6% −1.5%
July 18, 2024 −1.3% −1.4% −0.7% −5.8%
April 18, 2024 +2.4% −1.1% +3.5% +11.9%
January 25, 2024 −4.9% +0.4% −6.0% −4.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Marten Transport LTD’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Marten Transport LTD in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Marten Transport LTD
$800M $900M $1B $1.1B $1.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.2B Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1.1B Revenue (TTM), FY24 Q2: $1B Revenue (TTM), FY24 Q3: $1B Revenue (TTM), FY24 Q4: $963.7M Revenue (TTM), FY25 Q1: $937.2M Revenue (TTM), FY25 Q2: $920.9M Revenue (TTM), FY25 Q3: $904M Revenue (TTM), FY25 Q4: $883.7M Revenue (TTM), FY26 Q1: $864M Revenue (TTM), FY26 Q2: $857.6M $857.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.2B
FY23 Q4 $1.1B
FY24 Q1 $1.1B
FY24 Q2 $1B
FY24 Q3 $1B
FY24 Q4 $963.7M
FY25 Q1 $937.2M
FY25 Q2 $920.9M
FY25 Q3 $904M
FY25 Q4 $883.7M
FY26 Q1 $864M
FY26 Q2 $857.6M
Revenue growth, TTM YoY Marten Transport LTD
-20% -15% -10% -5% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -1.9% Revenue growth, TTM YoY, FY23 Q4: -10.5% Revenue growth, TTM YoY, FY24 Q1: -15.0% Revenue growth, TTM YoY, FY24 Q2: -15.2% Revenue growth, TTM YoY, FY24 Q3: -15.5% Revenue growth, TTM YoY, FY24 Q4: -14.8% Revenue growth, TTM YoY, FY25 Q1: -13.5% Revenue growth, TTM YoY, FY25 Q2: -11.8% Revenue growth, TTM YoY, FY25 Q3: -9.7% Revenue growth, TTM YoY, FY25 Q4: -8.3% Revenue growth, TTM YoY, FY26 Q1: -7.8% Revenue growth, TTM YoY, FY26 Q2: -6.9% -6.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -1.9%
FY23 Q4 -10.5%
FY24 Q1 -15.0%
FY24 Q2 -15.2%
FY24 Q3 -15.5%
FY24 Q4 -14.8%
FY25 Q1 -13.5%
FY25 Q2 -11.8%
FY25 Q3 -9.7%
FY25 Q4 -8.3%
FY26 Q1 -7.8%
FY26 Q2 -6.9%
Operating margin (TTM) Marten Transport LTD
0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 9.0% Operating margin (TTM), FY23 Q4: 8.0% Operating margin (TTM), FY24 Q1: 6.8% Operating margin (TTM), FY24 Q2: 5.3% Operating margin (TTM), FY24 Q3: 4.2% Operating margin (TTM), FY24 Q4: 3.4% Operating margin (TTM), FY25 Q1: 2.9% Operating margin (TTM), FY25 Q2: 2.9% Operating margin (TTM), FY25 Q3: 2.8% Operating margin (TTM), FY25 Q4: 2.6% Operating margin (TTM), FY26 Q1: 2.2% Operating margin (TTM), FY26 Q2: 1.8% 1.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 9.0%
FY23 Q4 8.0%
FY24 Q1 6.8%
FY24 Q2 5.3%
FY24 Q3 4.2%
FY24 Q4 3.4%
FY25 Q1 2.9%
FY25 Q2 2.9%
FY25 Q3 2.8%
FY25 Q4 2.6%
FY26 Q1 2.2%
FY26 Q2 1.8%
FCF margin (TTM) Marten Transport LTD
-2% 0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 5.5% FCF margin (TTM), FY23 Q4: 4.2% FCF margin (TTM), FY24 Q1: 4.2% FCF margin (TTM), FY24 Q2: 3.2% FCF margin (TTM), FY24 Q3: 3.6% FCF margin (TTM), FY24 Q4: 2.4% FCF margin (TTM), FY25 Q1: 1.6% FCF margin (TTM), FY25 Q2: 1.4% FCF margin (TTM), FY25 Q3: 0.4% FCF margin (TTM), FY25 Q4: -1.3% FCF margin (TTM), FY26 Q1: -1.5% FCF margin (TTM), FY26 Q2: -1.8% -1.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 5.5%
FY23 Q4 4.2%
FY24 Q1 4.2%
FY24 Q2 3.2%
FY24 Q3 3.6%
FY24 Q4 2.4%
FY25 Q1 1.6%
FY25 Q2 1.4%
FY25 Q3 0.4%
FY25 Q4 -1.3%
FY26 Q1 -1.5%
FY26 Q2 -1.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Marten Transport took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $884M
  2. Other operating costs $861M · 97.4%
  3. Operating income $22.9M · 2.6%
  4. Income tax $6.9M · 0.8%
  5. Net income $17.4M · 2.0%

Shares of revenue. Source: Marten Transport's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 506 517 604 638 659 673 665 671 698 788 843 874 974 1,264 1,131 964 884 858
EBITDA 82 87 101 107 116 119 136 141 142 159 172 196 214 254 207 145 128 116
Operating income 29 35 43 46 52 51 61 58 57 70 76 93 112 143 90 33 23 16
Net income 16 20 24 27 30 30 36 33 90 55 61 70 85 110 70 27 17 13
Diluted EPS $0.74 $0.24 $0.29 $0.33 $0.36 $0.36 $0.43 $0.41 $1.10 $0.67 $0.74 $0.84 $1.02 $1.35 $0.86 $0.33 $0.21 $0.15
Growth (year on year)
Revenue — +2.2% +16.8% +5.8% +3.3% +2.1% −1.2% +0.9% +4.0% +12.8% +7.1% +3.7% +11.4% +29.8% −10.5% −14.8% −8.3% −6.9%
EBITDA — +5.8% +15.3% +6.2% +9.1% +2.4% +14.4% +3.2% +0.9% +11.9% +8.0% +14.3% +9.2% +18.7% −18.7% −30.0% −11.4% −14.7%
Operating income — +20.2% +21.9% +6.6% +13.4% −1.9% +19.7% −4.5% −2.5% +23.7% +8.7% +21.9% +19.8% +28.3% −37.1% −63.1% −31.0% −40.5%
Net income — +21.4% +23.0% +12.3% +10.6% −1.0% +19.8% −6.4% +169.8% −39.1% +11.0% +13.8% +22.9% +29.2% −36.2% −61.7% −35.2% −39.5%
Diluted EPS — −67.6% +21.7% +12.3% +9.8% −1.1% +19.9% −4.7% +170.5% −39.1% +10.4% +13.5% +21.4% +32.4% −36.3% −61.6% −36.4% −39.6%
Margins
EBITDA margin 16.3% 16.9% 16.7% 16.7% 17.7% 17.7% 20.5% 21.0% 20.3% 20.2% 20.4% 22.4% 22.0% 20.1% 18.3% 15.0% 14.5% 13.6%
Operating margin 5.8% 6.8% 7.1% 7.2% 7.9% 7.6% 9.2% 8.7% 8.1% 8.9% 9.1% 10.7% 11.5% 11.3% 8.0% 3.4% 2.6% 1.8%
Net margin 3.2% 3.8% 4.0% 4.3% 4.6% 4.4% 5.4% 5.0% 12.9% 7.0% 7.2% 7.9% 8.8% 8.7% 6.2% 2.8% 2.0% 1.5%
Cash flow
Cash from operations 82 65 86 86 89 82 129 134 122 154 156 190 171 219 164 135 93 85
Stock-based pay 1 1 1 1 1 1 1 1 1 3 2 2 3 3 2 2 2 1
Balance sheet
Cash 5 5 21 3 14 0 0 0 16 57 31 66 57 81 53 17 43 104
Total debt 0 19 0 3 1 24 38 8 — 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −5 14 −21 −1 −13 24 37 7 −16 −57 −31 −66 −57 −81 −53 −17 −43 −104
Diluted shares — 83m 83m 83m 84m 84m 84m 82m 82m 83m 83m 83m 83m 82m 81m 81m 82m 82m
Returned to shareholders
Dividends — 1 2 19 3 3 3 3 4 5 42 52 55 20 20 20 20 20
Buybacks — — — — — — 16 8 0 4 0 1 0 42 0 0 — —
Total returned — 1 2 19 3 3 19 11 4 9 42 53 55 61 20 20 20 20

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $955m
Short-term assets $238mLonger-term assets $718m
What it owes, and who funded it · $955m
Short-term liabilities $95mLonger-term liabilities $94mShareholders' equity $766m
  • Short-term assets cover short-term liabilities $238m of assets due within a year against $95m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $238m short-term assets against $94m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Marten Transport LTD's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$19.6M
Diluted share count
+0.1%
year over year
Total shareholder yield
2.0%
dividends 2.0% + buybacks 0.0% of market value
Dividend payout ratio
155%
of net income paid out
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in cargo ground transportation
Last 12 months unless stated MRTN HTLD PAMT CVLG SFWL ULH Median
Revenue, last 12 months $858m $736m $598m $1.2bn $572m $1.5bn $3.5bn
Revenue growth, last 12 months −6.9% −21.0% −8.8% 8.3% 13.6% −8.3% 7.0%
Revenue growth, 3-year average −11.3% −16.5% −13.4% 2.4% — −5.5% −0.8%
Revenue growth, latest quarter −2.8% −12.5% 8.9% 9.9% — −3.7% 10.4%
Operating margin 1.8% −2.3% −9.1% −0.1% 2.9% −3.3% 3.2%
Operating margin, 3-year average 3.3% −2.3% −5.6% 2.7% — 4.9% 3.4%
Net margin 1.5% 12.5% −7.1% 0.3% 2.1% −6.0% 3.0%
Cash from operations / revenue 9.9% 10.7% −2.8% 6.9% 2.8% 9.6% 9.9%
Free-cash-flow margin −1.8% −11.6% −9.7% −3.1% −0.5% 2.4% 3.0%
Free-cash-flow margin, 3-year average 0.9% −4.3% −6.2% −5.1% — −3.5% 0.9%
Stock pay / revenue 0.2% 0.3% 0.1% 0.2% — 0.1% 0.3%
Change in share count 0.1% −1.2% −2.9% −4.6% 2.3% −0.0% −1.5%

Median of all 19 companies we cover in cargo ground transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

19 cargo ground transportation companies
Measure Company Peer median Rank
Revenue growth Growth -6.9% 7.0% 16 of 19
Change in growth rate Growth +0.9pp +3.0pp 16 of 19
Operating margin Profitability 1.8% 3.4% 11 of 18
Net margin Profitability 1.5% 3.0% 13 of 18
Free-cash-flow margin Cash generation -1.8% 3.0% 14 of 19
Stock pay as % of revenue Cash generation 0.2% 0.3% 3 of 15
Change in share count Balance sheet 0.1% -1.5% 15 of 18
Days sales outstanding Balance sheet 39 days 49 days 4 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Truckload $422M 47.7% ▼ 4.1%
Dedicated $278M 31.5% ▼ 12.8%
Brokerage $150M 17.0% ▲ 2.6%
Intermodal $33.7M 3.8% ▼ 42.7%

From Marten Transport LTD's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.1B
Institutions reporting
229
Shares held vs prior quarter
▲ 5.7%
Positions opened / closed
37 / 31

Top buyers and sellers, Q2 2026: 116 institutions bought and 104 sold ; the biggest buyer was Cramer Rosenthal Mcglynn LLC (+1.5M shares) and the biggest seller Nuance Investments, LLC (−4.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $175M 10.1M 16.4% ▲ 3.1%
Dimensional Fund Advisors LP $86.7M 5.0M 8.2% ▲ 2.2%
American Century Companies Inc $48.6M 2.8M 4.6% ▲ 6.9%
State Street Corp $47.3M 2.7M 4.5% ▲ 4.9%
FMR LLC $46.9M 2.7M 4.4% ▲ 52.8%
Vanguard Capital Management LLC $43.8M 2.5M 4.1% ▲ 1.1%
Goldman Sachs Group Inc $36.5M 2.1M 3.4% ▲ 238.9%
Nuveen, LLC $33.7M 1.9M 3.2% ▲ 198.6%
Two Sigma Investments, LP $31.8M 1.8M 3.0% ▲ 28.1%
Geode Capital Management, LLC $27M 1.6M 2.5% ▲ 5.9%
Cramer Rosenthal Mcglynn LLC $26.4M 1.5M 2.5% New
Royce & Associates LP $24.2M 1.4M 2.3% ▲ 42.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Marten Transport LTD's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 23, 2026
  • April 23, 2026
  • January 27, 2026
  • October 23, 2025
  • July 16, 2025

Recent SEC filings

Data status

When each part of this page on Marten Transport LTD was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Marten Transport LTD in brief

What does Marten Transport LTD do?
Marten Transport LTD is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.
What is Marten Transport LTD's stock ticker?
Marten Transport LTD trades under the ticker MRTN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Marten Transport LTD's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Marten Transport LTD reported revenue of $858M, 6.9% lower than a year earlier, according to its SEC filings.
What is Marten Transport LTD's free cash flow?
Marten Transport LTD's free-cash-flow margin is -1.8% of revenue over the trailing twelve months, ranking 14 of the 19 cargo ground transportation companies we cover.
What is Marten Transport LTD's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Marten Transport LTD's free cash flow after stock-based pay gives ~$7.0 per share in the base case, and ~$5.6–$8.9 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Marten Transport LTD's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and American Century Companies Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Marten Transport LTD's market cap?
On November 2, 2026, Marten Transport LTD's market capitalisation was about $980M, with a price-to-earnings ratio of 77.5 and net debt of -$104M. Market figures come from third-party market data and may be delayed.
Does Marten Transport LTD pay a dividend?
Yes: Marten Transport LTD paid $19.6M in dividends over the trailing twelve months, a dividend yield of 1.99% and a payout ratio of 154.8%.
Who are Marten Transport LTD's competitors?
In our Cargo Ground Transportation peer group, the companies closest to Marten Transport LTD are Heartland Express Inc, Pamt Corp, Covenant Logistics Group, Inc., Shengfeng Development Ltd and Universal Logistics Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Marten Transport LTD's.
When is Marten Transport LTD's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Marten Transport LTD announces its own schedule.