TacticScaleWhat Knight-Swift Transportation Does & How It Makes Money (KNX)
Updated October 2026 · reflects Knight-Swift Transportation's latest reported financials
Largest U.S. trucking company with truckload, LTL, brokerage and intermodal. It earns revenue mainly by charging shippers for moving freight with its own trucks, plus fees and margins on brokered and rail-based intermodal shipments handled by third-party carriers.
How Knight-Swift Transportation makes money
It earns revenue mainly by charging shippers for moving freight with its own trucks, plus fees and margins on brokered and rail-based intermodal shipments handled by third-party carriers. Smaller income comes from maintenance, leasing, warranty, insurance and trailer parts services.
What Knight-Swift Transportation does
Knight-Swift Transportation is a U.S. freight carrier headquartered in Phoenix, Arizona, that also serves Mexico. It operates four segments: Truckload, its core business, which covers irregular-route, dedicated, refrigerated, flatbed, expedited and cross-border service; LTL, which provides regional direct service and uses partner carriers for national coverage; Logistics, which brokers freight to third-party carriers; and Intermodal, which moves customer freight on rail in its own trailers and handles the drayage to and from rail yards. Beyond hauling, the company earns revenue from repair and maintenance shops, equipment leasing, warranty and insurance products, trailer parts manufacturing, warehousing and driving academies. Its customers are spread across retail, food and beverage, consumer and paper products, housing and building, automotive and manufacturing. Because of that mix, its results track U.S. freight demand and the broader economy.
Products & services
- Truckload (dry van, dedicated, refrigerated, flatbed, expedited, cross-border)
- LTL regional freight
- Freight brokerage & logistics
- Intermodal rail and drayage
- Equipment leasing & maintenance services
- Driving academy
What is Knight-Swift Transportation worth?
On an owner-earnings DCF, Knight-Swift Transportation's most-likely value is about $89 versus a recent price near $64 (38% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$43) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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