Heartland Express, Inc. Financial Ratios — HTLD Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	18.99	16.01	17.6	17.98	13.43	9.37	11.38	9.98	9.19	8.24	8.73	13.51	1.4	-2.85	-5.27
Return on Assets (%)	13.56	12.39	11.84	11.43	9.77	7.65	9.84	9.11	8.56	7.65	8.43	10.28	0.93	-2.09	-4.15
Return on Capital (%)	18.99	16.01	16.12	16.32	13.14	9.37	- -	9.98	9.28	8.24	8.73	11.6	2.29	- -	- -
Return on Invested Capital (%)	14.39	16.32	13.02	13.05	10.54	10.29	- -	8.63	7.28	8.38	7.01	6.71	0.08	- -	- -
Gross Margin (%)	21.62	22.17	21.84	20.01	21.16	21.9	16.92	20.63	20.46	22.85	21.12	20.73	12.03	10.52	8.38
EBITDA Margin (%)	25.03	25.22	25.54	23.87	26.26	29.68	23.18	27.2	27.46	29.29	28.36	23.19	16.59	14.68	12.08
Operating Margin (%)	14.08	14.62	13.57	11.28	11.07	12.46	6.07	10.61	10.54	12.18	11.19	9.45	0.11	-2.65	-7.68
Incremental Operating Margin (%)	-12.74	31.35	-2.08	6.67	12.43	4.2	705.11	806.29	13.51	32.31	27.96	6.51	-37.65	- -	-2.65
Pretax Margin (%)	20.3	17.51	19.33	15.1	15.86	14.04	10.62	15.05	16.28	14.61	17.46	18.71	1.64	-3.5	-8.46
Profit Margin (%)	13.23	11.28	12.12	9.74	9.92	9.2	12.38	11.9	12.23	10.97	13.05	13.8	1.22	-2.84	-6.51
Net Income to Common Margin (%)	13.23	11.28	12.12	9.74	9.92	9.2	12.38	11.9	12.23	10.97	13.05	13.8	1.22	-2.84	-6.51
Effective Tax Rate (%)	34.84	35.61	37.29	35.54	37.44	34.47	- -	20.93	24.91	24.88	25.24	26.23	25.58	- -	- -
Dvd Payout Ratio (%)	10.22	149.39	9.72	8.29	9.5	11.82	8.87	9.07	8.99	9.18	57.86	4.73	42.79	-15.88	-11.9
Sustainable Growth Rate (%)	17.05	-7.91	15.89	16.49	12.16	8.26	10.37	9.08	8.36	7.48	3.68	12.87	0.8	-3.3	-5.9

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	75	25	- -	- -	- -	- -	- -	- -	- -	434	317	209	161
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	26	19	15	7
LT Debt	- -	- -	75	25	- -	- -	- -	- -	- -	- -	- -	408	299	193	154
Total Debt/EBITDA	- -	- -	0.5	0.12	- -	- -	- -	- -	- -	- -	- -	1.93	1.58	1.36	1.66
Net Debt/EBITDA	-1.06	-0.87	0.38	0.04	-0.17	-0.71	-0.54	-0.97	-0.47	-0.6	-0.92	1.62	1.36	1.22	1.45
Total Debt/EBIT	- -	- -	0.95	0.25	- -	- -	- -	- -	- -	- -	- -	4.75	244.56	-7.52	-2.61
Net Debt/EBIT	-1.88	-1.5	0.72	0.07	-0.41	-1.68	-2.04	-2.49	-1.22	-1.45	-2.32	3.98	209.46	-6.77	-2.28
EBITDA to Interest Expense	- -	- -	714.81	466.26	10,178.32	- -	804.43	- -	155.77	- -	- -	26.24	8.28	8.75	8.47
EBITDA-CapEx/Interest Expense	- -	- -	64.84	6.68	-1,256.05	- -	-247.65	- -	0.08	- -	- -	7.47	-0.34	2.52	-5.12
EBIT to Interest Expense	- -	- -	379.96	220.46	4,291.58	- -	210.69	- -	59.82	- -	- -	10.69	0.05	-1.58	-5.38
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	9	24	18	11
Common Equity/Total Assets	76.02	78.94	59.73	67.2	78.37	84.88	88.08	94.41	92.06	93.77	99.65	63.05	70.28	76.82	81.09
Long-Term Debt/Equity (%)	- -	- -	18.86	5.16	- -	- -	- -	- -	- -	- -	- -	47.69	34.54	23.52	20.44
Long-Term Debt/Capital (%)	- -	- -	14.77	4.6	- -	- -	- -	- -	- -	- -	- -	27.45	21.68	15.68	13.69
Long-Term Debt/Total Assets (%)	- -	- -	10.35	3.24	- -	- -	- -	- -	- -	- -	- -	24.44	19.8	14.5	12.96
Total Debt/Equity (%)	- -	- -	18.86	5.16	- -	- -	- -	- -	- -	- -	- -	50.73	36.69	25.36	21.37
Total Debt/Capital (%)	- -	- -	14.77	4.6	- -	- -	- -	- -	- -	- -	- -	29.19	23.03	16.91	14.31
Total Debt/Total Assets (%)	- -	- -	10.35	3.24	- -	- -	- -	- -	- -	- -	- -	25.99	21.03	15.64	13.55
Net Debt to Equity	-41.02	-41.27	14.39	1.53	-7.07	-25.41	-13.12	-26.21	-11.2	-15.72	-21.69	42.5	31.42	22.85	18.71
Net Debt/Capital (%)	-53.79	-48.05	11.68	1.41	-6.11	-25.8	-12.16	-26.92	-10.21	-14.63	-20.55	25.3	20.13	15.39	12.74
EBITDA	132	138	149	208	193	182	141	166	164	189	172	224	200	154	97
EBITDA-CapEx	6	71	13	3	-24	96	-43	-3	- -	-15	40	64	-8	44	-59
Operating Income (Loss)	74	80	79	98	82	76	37	65	63	79	68	91	1	-28	-62

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	3.06	2.64	0.2	0.25	0.5	1.96	1	2.5	1.21	1.6	2.2	0.32	0.23	0.11	0.17
Current Ratio	4.67	4.22	1.63	2.2	2.06	3.08	2.27	3.59	2.39	2.72	3.26	1.47	1.37	1.08	1.04
Quick Ratio	4.04	3.72	1.22	1.67	1.54	2.75	1.94	3.26	2.11	2.38	3	1.23	1.14	0.89	0.85
CFO/Avg Current Liab	2.1	2.25	1.66	2.2	2.83	2.37	1.56	2.09	2.29	2.66	1.73	1.71	1.18	1.19	0.78
Common Equity/Total Assets	76.02	78.94	59.73	67.2	78.37	84.88	88.08	94.41	92.06	93.77	99.65	63.05	70.28	76.82	81.09
Long-Term Debt/Equity (%)	- -	- -	18.86	5.16	- -	- -	- -	- -	- -	- -	- -	47.69	34.54	23.52	20.44
Long-Term Debt/Capital (%)	- -	- -	14.77	4.6	- -	- -	- -	- -	- -	- -	- -	27.45	21.68	15.68	13.69
Long-Term Debt/Total Assets (%)	- -	- -	10.35	3.24	- -	- -	- -	- -	- -	- -	- -	24.44	19.8	14.5	12.96
Total Debt/Equity (%)	- -	- -	18.86	5.16	- -	- -	- -	- -	- -	- -	- -	50.73	36.69	25.36	21.37
Total Debt/Capital (%)	- -	- -	14.77	4.6	- -	- -	- -	- -	- -	- -	- -	29.19	23.03	16.91	14.31
Total Debt/Total Assets (%)	- -	- -	10.35	3.24	- -	- -	- -	- -	- -	- -	- -	25.99	21.03	15.64	13.55
CFO/Total Liabilities	53.59	57.6	34	60.85	71.58	67.03	51.07	77.03	68.31	78.84	61.27	23.92	25.65	28.22	20.47
CFO/CapEx	0.78	1.53	0.82	0.84	0.88	1.81	0.59	0.87	0.89	0.88	0.93	1.21	0.79	1.32	0.57
Altman's Z-Score	7.1	7.04	5.56	8.14	6.39	7.42	8.28	7.93	7.77	6.93	7.13	3.11	3.58	3.65	3.42

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	12.32	12.03	8.89	10.8	10.67	11.37	10.93	10.79	11.29	11.49	11.21	10.05	9.96	10.78	9.72
Days Sales Outstanding	29.63	30.35	41.05	33.81	34.21	32.11	33.4	33.84	32.32	31.77	32.57	36.32	36.66	33.86	37.55
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	91.18	50.96	26.39	39.63	73.59	48.18	37.76	38.91	43.93	41.81	28.78	18.43	21.14	25.63	21.44
Accounts Payable Turnover Days	4	7.16	13.83	9.21	4.96	7.58	9.67	9.38	8.31	8.73	12.68	19.8	17.27	14.24	17.02
Cash Conversion Cycle	25.62	23.19	27.21	24.6	29.25	24.54	23.73	24.46	24.02	23.04	19.89	16.52	19.4	19.62	20.53
Inventory to Cash Days	29.63	30.35	41.05	33.81	34.21	32.11	33.4	33.84	32.32	31.77	32.57	36.32	36.66	33.86	37.55
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	1,281	1,123	1,672	2,370	1,480	1,696	1,944	1,508	1,726	1,473	1,338	1,211	1,127	883	703
- Cash & Cash Equivalents	140	120	18	17	33	129	75	161	77	114	158	49	28	13	18
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	75	25	- -	- -	- -	- -	- -	- -	- -	434	317	209	161
Enterprise Value	1,141	1,003	1,729	2,377	1,447	1,567	1,869	1,346	1,649	1,359	1,181	1,595	1,416	1,079	846
Total Capital	400	369	508	535	577	627	695	761	828	892	925	1,487	1,378	1,234	1,128
Total Debt/Capital (%)	- -	- -	14.77	4.6	- -	- -	- -	- -	- -	- -	- -	29.19	23.03	16.91	14.31
Total Debt / EV	- -	- -	0.04	0.01	- -	- -	- -	- -	- -	- -	- -	0.27	0.22	0.19	0.19
EV/Sales	2.16	1.84	2.97	2.73	1.97	2.56	3.08	2.2	2.76	2.11	1.94	1.65	1.17	1.03	1.05
EV/EBITDA	8.63	7.29	11.63	11.43	7.48	8.61	13.28	8.1	10.06	7.19	6.86	7.11	7.07	7.02	8.69
EV/EBIT	15.34	12.57	21.88	24.18	17.75	20.53	50.69	20.76	26.2	17.3	17.37	17.45	1,090.91	- -	- -
EV/Cash Flow to Firm	11.52	9.81	15.53	13.76	7.6	10.06	17.03	9.19	11.21	7.6	9.57	7.94	7.73	6.8	8.62
EV/Free Cash Flow to Firm	5.07	5.93	7.01	6.29	3.55	6.48	6.36	4.26	5.3	3.55	4.61	4.41	3.61	4.02	3.33
Diluted Market Cap	1,281	1,127	1,676	2,375	1,483	1,697	1,945	1,508	1,727	1,474	1,339	1,211	1,128	884	704
Diluted Enterprise Value	1,142	1,007	1,734	2,382	1,449	1,569	1,870	1,347	1,650	1,360	1,181	1,596	1,417	1,080	847
EV per Share	12.73	11.67	20.29	27.09	16.64	18.82	22.44	16.34	20.11	16.7	14.84	20.21	17.92	13.71	10.87
TTM Sales	529	546	582	871	736	613	607	611	597	645	607	968	1,207	1,048	806
TTM EBITDA	132	138	149	208	193	182	141	166	164	189	172	224	200	154	97
TTM Operating Income	74	80	79	98	82	76	37	65	63	79	68	91	1	-28	-62
TTM Cash Flow to Firm	99	102	111	173	190	156	110	147	147	179	123	201	183	159	98
TTM Free Cash Flow to Firm	225	169	247	378	408	242	294	316	311	383	256	362	392	268	254

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	5.69	6.67	6.8	6.29	3.64	7.02	6.62	4.78	5.57	3.85	5.23	3.41	3.02	3.48	2.87
EV/EBIT	15.34	12.57	21.88	24.18	17.75	20.53	50.69	20.76	26.2	17.3	17.37	17.45	1,090.91	- -	- -
Enterprise Value	1,141	1,003	1,729	2,377	1,447	1,567	1,869	1,346	1,649	1,359	1,181	1,595	1,416	1,079	846
Low Price	12.75	12.43	12.98	19.41	16.35	15.36	18.71	17	17.29	15.65	15.71	12.78	11.44	9.63	7
EV/Sales	2.16	1.84	2.97	2.73	1.97	2.56	3.08	2.2	2.76	2.11	1.94	1.65	1.17	1.03	1.05
EV/EBITDA	8.63	7.29	11.63	11.43	7.48	8.61	13.28	8.1	10.06	7.19	6.86	7.11	7.07	7.02	8.69
Price/Earnings	18.32	18.24	23.69	27.94	20.26	30.08	25.86	20.74	23.65	20.81	16.88	9.07	76.26	- -	- -
Price/Earnings Average	19.8	19.46	17.57	23.56	25.68	27.56	23.44	22.22	22.6	22.51	17.78	8.74	81.58	-31.72	-13.31
Price/Earnings High	23.23	21.66	23.83	28.92	33.1	33.52	27.95	27.08	25.52	26.15	20.32	10.24	97.16	-37.88	-18.1
Price/Earnings Low	16.35	17.35	15.67	20.08	19.46	22.69	20.73	19.27	19.43	17.99	15.77	7.55	61.18	-25.51	-10.39
Price/Book Value	3.21	3.04	3.86	4.64	2.57	2.71	2.8	1.98	2.09	1.65	1.45	1.15	1.06	0.86	0.73
Price/Book Value Average	3.46	3.24	2.86	3.91	3.25	2.48	2.53	2.12	1.99	1.79	1.52	1.11	1.14	0.92	0.72
Price/Book Value High	4.07	3.61	3.89	4.8	4.19	3.02	3.02	2.59	2.25	2.08	1.74	1.3	1.35	1.1	0.98
Price/Book Value Low	2.86	2.89	2.55	3.33	2.47	2.04	2.24	1.84	1.71	1.43	1.35	0.96	0.85	0.74	0.56
Price/Tangible Book Value	3.81	3.93	5.97	6.58	4.16	4.31	4.57	3.21	3.53	2.77	2.49	2.62	2.54	2.17	1.94
Price/Tangible Book Value Average	4.12	4.19	4.43	5.55	5.27	3.95	4.14	3.44	3.37	3	2.63	2.52	2.71	2.32	1.92
Price/Tangible Book Value High	4.84	4.67	6	6.82	6.8	4.8	4.94	4.2	3.81	3.49	3	2.95	3.23	2.77	2.61
Price/Tangible Book Value Low	3.4	3.74	3.95	4.73	4	3.25	3.67	2.99	2.9	2.4	2.33	2.18	2.04	1.87	1.5
Price/Sales	2.42	2.06	2.87	2.72	2.01	2.77	3.2	2.47	2.89	2.28	2.2	1.25	0.93	0.84	0.87
Price/Sales Average	2.62	2.19	2.13	2.29	2.55	2.54	2.9	2.64	2.76	2.47	2.32	1.21	1	0.9	0.87
Price/Sales High	3.07	2.44	2.89	2.82	3.28	3.08	3.46	3.22	3.12	2.87	2.65	1.41	1.19	1.07	1.18
Price/Sales Low	2.16	1.96	1.9	1.95	1.93	2.09	2.57	2.29	2.37	1.97	2.06	1.04	0.75	0.72	0.68
Price/Cash Flow	12.93	10.99	15.03	13.74	7.77	10.89	17.75	10.29	11.79	8.24	10.84	6.22	6.82	6.12	7.87
Price/Cash Flow Average	13.97	11.72	11.15	11.59	9.85	9.98	16.08	11.02	11.27	8.91	11.42	6	7.29	6.53	7.82
Price/Cash Flow High	16.4	13.05	15.12	14.23	12.69	12.13	19.18	13.43	12.72	10.35	13.05	7.02	8.69	7.8	10.63
Price/Cash Flow Low	11.54	10.45	9.94	9.88	7.47	8.21	14.23	9.56	9.68	7.12	10.13	5.18	5.47	5.25	6.1
Price/Free Cash Flow Average	6.14	7.11	5.05	5.31	4.61	6.43	6	5.11	5.32	4.16	5.51	3.29	3.23	3.72	2.85
Price/Free Cash Flow High	7.21	7.92	6.84	6.51	5.94	7.82	7.16	6.23	6.01	4.84	6.29	3.85	3.84	4.44	3.87
Price/Free Cash Flow Low	5.07	6.34	4.5	4.52	3.49	5.29	5.31	4.44	4.57	3.33	4.88	2.84	2.42	2.99	2.22
EV/Sales Average	2.35	1.97	2.23	2.3	2.5	2.33	2.78	2.38	2.63	2.29	2.06	1.6	1.24	1.09	1.04
EV/Sales High	2.81	2.22	2.99	2.82	3.24	2.87	3.33	2.96	2.99	2.69	2.39	1.81	1.43	1.26	1.36
EV/Sales Low	1.9	1.74	2	1.96	1.89	1.88	2.44	2.03	2.25	1.8	1.8	1.44	0.99	0.91	0.85
EV/EBITDA Average	9.41	7.83	8.73	9.64	9.53	7.83	11.98	8.75	9.6	7.83	7.27	6.92	7.46	7.4	8.64
EV/EBITDA High	11.22	8.82	11.7	11.83	12.33	9.68	14.39	10.87	10.89	9.2	8.44	7.8	8.61	8.59	11.22
EV/EBITDA Low	7.58	6.89	7.82	8.23	7.18	6.33	10.54	7.46	8.18	6.14	6.34	6.21	5.96	6.2	7.07
EV/EBIT Average	16.72	13.51	16.42	20.4	22.6	18.67	45.74	22.42	24.99	18.83	18.42	16.98	1,151.56	-41.04	-13.59
EV/EBIT High	19.95	15.2	22.01	25.03	29.25	23.07	54.93	27.87	28.36	22.11	21.37	19.15	1,328.91	-47.64	-17.66
EV/EBIT Low	13.48	11.88	14.72	17.4	17.03	15.07	40.23	19.11	21.3	14.76	16.07	15.24	919.25	-34.39	-11.12
Last Price	14.29	13.07	19.62	27.01	17.02	20.36	23.34	18.3	21.05	18.1	16.82	15.34	14.26	11.22	9.03
High Price	18.12	15.52	19.74	27.96	27.8	22.69	25.22	23.89	22.71	22.75	20.24	17.32	18.17	14.3	12.19
Enterprise Value Average	1,245	1,078	1,298	2,006	1,843	1,425	1,686	1,453	1,572	1,480	1,252	1,553	1,495	1,139	841
Enterprise Value High	1,485	1,213	1,739	2,461	2,385	1,762	2,025	1,807	1,785	1,738	1,453	1,752	1,725	1,322	1,092
Enterprise Value Low	1,003	948	1,163	1,710	1,389	1,151	1,483	1,239	1,341	1,160	1,092	1,393	1,193	954	688

Shares Outstanding	86	85	88	88	84	83	83	82	82	81	79	79	79	79	77
Diluted Weighted Avg Shares	90	86	85	88	87	83	83	82	82	81	80	79	79	79	78
Basic Weighted Avg Shares	90	86	85	88	87	83	83	82	82	81	80	79	79	79	78
Revenue per Share	5.9	6.35	6.83	9.93	8.47	7.36	7.29	7.41	7.28	7.93	7.63	12.26	15.28	13.3	10.35
EBITDA per Share	1.48	1.6	1.74	2.37	2.22	2.18	1.69	2.02	2	2.32	2.16	2.84	2.54	1.95	1.25
Operating Income per Share	0.83	0.93	0.93	1.12	0.94	0.92	0.44	0.79	0.77	0.97	0.85	1.16	0.02	-0.35	-0.79
Basic EPS, GAAP	0.78	0.72	0.83	0.97	0.84	0.68	0.9	0.88	0.89	0.87	1	1.69	0.19	-0.38	-0.67
Basic EPS from Cont Ops	0.78	0.72	0.83	0.97	0.84	0.68	0.9	0.88	0.89	0.87	1	1.69	0.19	-0.38	-0.67
Diluted EPS, GAAP	0.78	0.71	0.83	0.96	0.84	0.68	0.9	0.88	0.89	0.87	1	1.69	0.19	-0.38	-0.67
Diluted EPS from Cont Ops	0.78	0.71	0.83	0.96	0.84	0.68	0.9	0.88	0.89	0.87	1	1.69	0.19	-0.38	-0.67
Dividend per Share	0.08	1.07	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.58	0.08	0.08	0.06	0.08
Cash Flow per Share	1.11	1.19	1.31	1.97	2.19	1.87	1.32	1.78	1.79	2.2	1.55	2.47	2.09	1.83	1.15
Free Cash Flow per Basic Share	-0.3	0.41	-0.28	-0.37	-0.31	0.84	-0.9	-0.28	-0.21	-0.31	-0.12	0.43	-0.55	0.44	-0.86
Cash & Equivalents per Share	1.56	1.4	0.21	0.2	0.38	1.54	0.9	1.96	0.94	1.4	1.98	0.63	0.36	0.16	0.24
Book Value per Share	4.46	4.3	5.08	5.82	6.63	7.52	8.34	9.24	10.09	10.96	11.63	13.33	13.43	13.02	12.41
Tangible Book Value per Share	3.75	3.32	3.29	4.1	4.09	4.72	5.1	5.69	5.97	6.53	6.74	5.86	5.62	5.16	4.66

Heartland Express, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)