TacticScaleWhat Marten Transport Does & How It Makes Money (MRTN)
Updated October 2026 · reflects Marten Transport's latest reported financials
Temperature-controlled truckload carrier hauling food and consumer goods across North America. It earns freight revenue by hauling full truckloads with its own tractors and trailers, both on regular routes and through dedicated contracts built around single customers.
How Marten Transport makes money
It earns freight revenue by hauling full truckloads with its own tractors and trailers, both on regular routes and through dedicated contracts built around single customers. Its brokerage arm earns money by booking loads with third-party carriers.
What Marten Transport does
Marten Transport, Ltd. is a trucking company that specializes in temperature-sensitive freight for shippers in the United States, Mexico, and Canada. Founded in 1946 and headquartered in Mondovi, Wisconsin, it hauls mainly food and other consumer packaged goods that need refrigerated or insulated trailers, and it also carries dry freight. The company reports three segments. Truckload offers regional short-haul and medium-to-long-haul full-load service. Dedicated provides customized fleets for individual customers using temperature-controlled trailers, dry vans, and specialized equipment. Brokerage arranges for third-party carriers to haul customer freight. As of December 31, 2025, Marten operated 2,654 tractors: 2,577 company-owned and 77 supplied by independent contractors.
Products & services
- Temperature-controlled truckload transportation
- Dry van truckload freight
- Dedicated fleet transportation solutions
- Freight brokerage services
- Regional short-haul and medium-to-long-haul full-load shipping
What is Marten Transport worth?
On an owner-earnings DCF, Marten Transport's most-likely value is about $11 versus a recent price near $13 (14% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$7) 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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