Landstar System, Inc.

LSTR

LSTRLandstar System, Inc. US flag

NASDAQ Global Select

225.20

USD

+6.28

- -

7.64BMarket Cap

Income Statement (USD)

API Chat

	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

Sales/Revenue/Turnover	2,628	2,771	2,665	3,185	3,321	3,168	3,646	4,615	4,085	4,133	6,538	7,437	5,303	4,819	4,744
+ Sales & Services Revenue	2,628	2,771	2,665	3,185	3,321	3,168	3,646	4,615	4,085	4,133	6,538	7,437	5,303	4,819	4,744
- Cost of Revenue	2,241	2,374	2,286	2,739	2,851	2,716	3,143	3,992	3,514	3,579	5,671	6,476	4,589	4,195	4,122
+ Cost of Goods & Services	2,241	2,374	2,286	2,739	2,851	2,716	3,143	3,992	3,514	3,579	5,671	6,476	4,589	4,195	4,122
Gross Profit	387	397	379	445	470	452	503	624	570	553	866	960	714	625	622
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	208	198	204	222	230	230	262	296	277	286	363	392	380	390	452
+ Selling, General & Admin	179	175	182	197	198	201	233	264	239	255	327	347	326	332	390
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	28	23	22	26	32	30	29	32	37	30	37	45	54	59	62
Operating Income (Loss)	179	199	175	223	240	222	241	328	294	268	503	568	334	234	170
- Non-Operating (Income) Loss	1	2	2	2	2	2	1	- -	-2	19	1	- -	-14	-20	19
+ Interest Expense, Net	1	3	3	3	3	4	3	3	3	4	4	4	-4	-5	- -
+ Interest Expense	3	3	3	3	3	4	3	3	3	4	4	4	- -	- -	- -
- Interest Income	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	5	- -
+ Other Non-Op (Income) Loss	- -	-2	-1	-1	-1	-2	-2	-4	-5	15	-3	-3	-10	-15	19
Pretax Income	178	198	173	221	239	219	241	328	296	249	502	567	348	254	151
- Income Tax Expense (Benefit)	66	71	64	82	91	82	64	73	68	57	120	137	84	58	36
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	112	127	109	139	148	137	177	255	228	192	382	431	264	196	115
- Net Extraordinary Losses (Gains)	-2	-3	-37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	1	3	37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-3	-6	-74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	113	130	146	139	148	137	177	255	228	192	382	431	264	196	115
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	113	130	146	139	148	137	177	255	228	192	382	431	264	196	115
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	113	130	146	139	148	137	177	255	228	192	382	431	264	196	115
EBIT	179	199	175	223	240	222	241	328	294	268	503	568	334	234	170
EBITDA	203	224	203	251	269	258	282	371	338	313	552	625	392	291	216
EBITDA Margin (%)	7.72	8.1	7.61	7.87	8.11	8.13	7.73	8.05	8.28	7.58	8.45	8.41	7.39	6.03	4.56
EBITA	179	199	175	223	240	222	241	328	294	268	503	568	334	234	170
Gross Margin (%)	14.72	14.33	14.22	13.98	14.16	14.27	13.8	13.51	13.96	13.39	13.25	12.91	13.47	12.96	13.1
Operating Margin (%)	6.81	7.19	6.57	7	7.24	7	6.62	7.11	7.19	6.48	7.69	7.64	6.3	4.86	3.58
Profit Margin (%)	4.3	4.68	5.48	4.36	4.45	4.34	4.86	5.53	5.58	4.65	5.84	5.79	4.99	4.07	2.42
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.21	0.73	- -	0.61	1.33	0.34	0.38	2.15	0.7	2.84	2.97	3.22	3.26	3.39	3.59
Depreciation Expense	24	25	28	28	29	36	41	44	44	46	50	57	58	57	46
Basic Weighted Avg Shares	47	47	46	45	44	42	42	41	40	39	38	36	36	36	35
Basic EPS, GAAP	2.38	2.78	3.17	3.09	3.38	3.26	4.22	6.19	5.72	4.98	10.12	11.99	7.36	5.51	3.31
Basic EPS from Cont Ops	2.35	2.71	2.37	3.09	3.38	3.26	4.22	6.18	5.72	4.98	10.12	11.99	7.36	5.51	3.31
Diluted Weighted Avg Shares	48	47	46	45	44	42	42	41	40	39	38	37	36	36	35
Diluted EPS, GAAP	2.38	2.77	3.16	3.07	3.37	3.25	4.21	6.18	5.72	4.98	9.98	11.76	7.36	5.51	3.31
Diluted EPS from Cont Ops	2.35	2.7	2.36	3.07	3.37	3.25	4.21	6.18	5.72	4.98	9.98	11.76	7.36	5.51	3.31

Balance Sheet (USD)

API Chat

	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 Current Assets	552	592	682	732	656	737	961	971	998	1,208	1,523	1,439	1,353	1,320	1,216
+ Cash, Cash Equivalents & STI	109	110	215	201	163	245	291	240	352	291	251	394	541	567	452
+ Cash & Cash Equivalents	81	74	180	164	115	179	242	200	320	249	216	340	481	515	397
+ ST Investments	28	36	35	37	49	67	49	40	33	41	36	54	60	52	56
+ Accounts & Notes Receiv	422	464	453	508	481	482	655	715	624	899	1,255	1,024	787	731	723
+ Accounts Receivable, Net	368	409	379	493	463	463	631	692	589	764	1,154	968	744	684	670
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	53	55	74	15	18	19	24	24	36	135	101	56	43	47	53
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	21	18	15	24	12	10	14	16	21	19	16	22	25	22	41
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	257	287	288	312	335	359	391	409	430	446	523	492	449	493	420
+ Property, Plant & Equip, Net	142	159	177	202	226	273	276	284	286	297	317	315	284	311	261
+ Property, Plant & Equip	288	318	335	363	409	463	495	534	567	596	661	708	721	768	735
- Accumulated Depreciation	146	159	158	161	183	190	219	250	281	299	344	393	437	457	474
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	115	129	111	110	109	86	115	125	144	149	205	177	165	182	158
+ Total Intangible Assets	57	57	31	31	31	31	39	38	39	41	41	41	42	41	34
+ Goodwill	57	57	31	31	31	31	39	38	39	41	41	41	42	41	34
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	57	71	80	79	78	55	76	87	105	108	164	136	123	141	124
Total Assets	808	879	971	1,044	992	1,097	1,352	1,381	1,428	1,654	2,045	1,932	1,802	1,813	1,636
+ Payables & Accruals	163	189	174	265	224	219	348	314	351	457	680	599	467	454	438
+ Accounts Payable	163	189	158	220	224	219	285	314	272	381	604	527	396	384	370
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	16	45	- -	- -	63	- -	79	77	75	72	71	71	68
+ ST Debt	43	53	55	70	78	81	84	99	97	110	153	129	89	94	85
+ ST Borrowings	43	53	55	70	78	81	84	99	97	110	116	129	62	61	57
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	37	36	28	33	28
+ Other ST Liabilities	125	103	147	76	68	80	116	123	105	239	177	150	118	125	173
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	125	103	147	76	68	80	116	123	105	239	177	150	118	125	173
Total Current Liabilities	331	344	376	410	370	380	549	536	553	806	1,010	878	675	673	696
+ LT Debt	115	95	74	76	82	93	83	85	70	65	75	67	43	69	48
+ LT Borrowings	115	95	74	76	82	93	83	85	70	65	75	67	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	75	67	43	69	48
+ Other LT Liabilities	62	61	67	69	74	80	67	71	83	90	98	99	99	99	96
+ Accrued Liabilities	34	39	42	47	52	54	37	40	50	52	49	41	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	27	22	24	22	21	27	30	30	34	39	50	58	99	99	96
Total Noncurrent Liabilities	177	156	141	146	156	174	150	156	153	156	173	167	143	168	144
Total Liabilities	508	500	516	556	525	554	699	691	706	962	1,183	1,045	818	841	840
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	166	175	180	190	197	200	210	228	227	230	256	259	255	256	262
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	166	174	180	189	196	199	210	227	226	229	255	258	255	255	261
- Treasury Stock	814	840	899	956	1,117	1,167	1,168	1,376	1,465	1,582	1,706	1,993	2,048	2,131	2,313
+ Retained Earnings	947	1,043	1,173	1,255	1,390	1,513	1,611	1,841	1,962	2,046	2,317	2,636	2,784	2,860	2,853
+ Other Equity	1	1	- -	-1	-3	-3	-3	-6	-2	-2	-5	-15	-7	-12	-6
Equity Before Minority Interest	301	379	454	488	466	543	651	687	721	692	862	887	984	972	796
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	3	2	- -	- -	- -	- -	- -	- -	- -
Total Equity	301	379	454	488	466	543	654	689	721	692	862	887	984	972	796
Total Liabilities & Equity	808	879	971	1,044	992	1,097	1,352	1,381	1,428	1,654	2,045	1,932	1,802	1,813	1,636
Shares Outstanding	47	46	45	45	42	42	42	40	39	38	38	36	36	35	34
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	112	103	71	102	77
Net Debt	77	74	-51	-18	45	-4	-75	-16	-153	-74	-24	-143	-420	-454	-340
Net Debt to Equity	25.73	19.37	-11.23	-3.69	9.73	-0.8	-11.48	-2.32	-21.18	-10.67	-2.76	-16.14	-42.64	-46.69	-42.74
Tangible Common Equity Ratio	32.37	39.17	45.06	45.12	45.31	48	46.81	48.49	49.16	40.36	40.97	44.75	53.52	52.56	47.55
Current Ratio	1.67	1.72	1.82	1.78	1.78	1.94	1.75	1.81	1.8	1.5	1.51	1.64	2	1.96	1.75
Cash Conversion Cycle	22.44	24.1	26.25	24.76	24.09	23.56	25.47	24.91	26.76	26.46	21.87	20.19	22.18	20.14	18.74

Cash Flow Statement (USD)

API Chat

	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

+ Net Income	112	127	109	139	148	137	177	255	228	192	382	431	264	196	115
+ Depreciation & Amortization	24	25	28	28	29	36	41	44	44	46	50	57	58	57	46
+ Non-Cash Items	23	13	10	16	20	12	-2	27	18	16	28	17	6	13	56
+ Stock-Based Compensation	5	6	5	7	7	3	8	18	4	5	28	12	4	3	6
+ Deferred Income Taxes	10	4	5	5	7	6	-17	2	5	1	-4	-5	-8	-7	3
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -	- -	- -	- -	32
+ Other Non-Cash Adj	8	2	1	3	6	2	7	7	9	7	4	10	10	17	15
+ Chg in Non-Cash Work Cap	-44	-44	6	-80	20	6	-76	-28	18	-43	-182	118	65	20	8
+ (Inc) Dec in Accts Receiv	-95	-35	-29	-60	21	-6	-181	-57	81	-285	-362	219	223	38	-8
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	22	13	9	62	4	-10	69	23	-42	108	224	-77	-131	-12	-14
+ Inc (Dec) in Other	30	-22	26	-82	-5	21	36	7	-22	134	-44	-25	-27	-5	30
+ Net Cash From Disc Ops	4	5	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	118	126	162	102	216	190	139	298	308	211	277	623	394	287	225
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	4	10	10	7	2	10	4	4	4	8	3	5	8	10	7
+ Disp of Fixed Prod Assets	4	10	10	7	2	10	4	4	4	8	3	5	8	10	7
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4	-5	-6	-11	-5	-23	-16	-10	-19	-31	-23	-26	-26	-31	-10
+ Acq of Fixed Prod Assets	-4	-5	-6	-11	-5	-23	-16	-10	-19	-31	-23	-26	-26	-31	-10
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-50	-26	-59	-56	-161	-51	- -	-208	-89	-116	-123	-286	-54	-81	-180
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-50	-26	-59	-56	-161	-51	- -	-208	-89	-116	-123	-286	-54	-81	-180
+ Net Change in LT Investment	9	-24	-12	-2	-6	-2	-2	-2	-3	-3	-53	-4	11	11	1
+ Dec in LT Investment	67	33	39	35	39	42	56	52	63	23	32	41	113	112	163
+ Inc in LT Investment	-58	-57	-51	-36	-44	-44	-59	-54	-66	-26	-85	-45	-102	-101	-163
+ Net Cash From Acq & Div	- -	- -	75	- -	- -	- -	-8	- -	- -	-3	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	75	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	-8	- -	- -	-3	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-1	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	-1	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	9	-21	66	-5	-9	-14	-22	-8	-19	-28	-73	-25	-6	-10	-2
+ Dividends Paid	-10	-34	- -	-28	-58	-14	-16	-89	-28	-110	-112	-116	-117	-120	-125
+ Net Cash From Debt	-23	-61	-59	-31	-36	-47	-41	-30	-46	-23	4	-63	-68	-32	-38
+ Cash From Debt	10	60	3	7	1	1	6	13	- -	21	42	- -	- -	- -	- -
+ Repayments of Debt	-33	-121	-62	-37	-37	-47	-47	-43	-46	-44	-38	-63	-68	-32	-38
+ Other Financing Activities	-7	10	-2	2	- -	- -	2	-3	-8	-4	-2	-11	-9	-4	-1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-90	-111	-121	-112	-255	-112	-54	-331	-171	-252	-233	-476	-248	-237	-343
Effect of Foreign Exchange Rates	- -	- -	-1	-1	-2	- -	1	-2	1	- -	- -	-2	2	-5	2
Net Changes in Cash	36	-7	107	-15	-47	64	62	-41	119	-70	-30	122	139	39	-121
EBITDA	203	224	203	251	269	258	282	371	338	313	552	625	392	291	216
EBITDA Margin (%)	7.72	8.1	7.61	7.87	8.11	8.13	7.73	8.05	8.28	7.58	8.45	8.41	7.39	6.03	4.56
Free Cash Flow	114	120	156	91	211	168	123	288	288	180	253	597	368	256	215
Net Cash Paid for Acquisitions	- -	- -	-75	- -	- -	- -	8	- -	- -	3	- -	- -	- -	- -	- -
Free Cash Flow to Firm	116	122	158	93	213	170	126	291	291	183	257	599	368	256	215
Free Cash Flow to Equity	96	69	106	68	177	131	87	262	246	165	261	539	308	234	184
Free Cash Flow per Basic Share	2.41	2.57	3.38	2.03	4.84	3.98	2.94	6.98	7.25	4.67	6.72	16.61	10.24	7.19	6.19
Price/Free Cash Flow	18.72	18.78	15.77	29.14	11.64	16.92	28.31	12.85	13.84	21.54	22.82	9.2	16.59	19.23	21.25
Cash Flow to Net Income	1.04	0.97	1.11	0.73	1.46	1.39	0.78	1.17	1.35	1.1	0.73	1.44	1.49	1.46	1.96
Capital Expenditures	-4	-5	-6	-11	-5	-23	-16	-10	-19	-31	-23	-26	-26	-31	-10