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U.S. Transportation Industry Analysis

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies49
  • 7D-1.3%
  • 3M-3.9%
  • 1Y3.8%
  • YTD-3.9%

Over the last 7 days, the Transportation industry has dropped 1.3%, driven by a pullback from Union Pacific of 3.0%. Over the past 12 months, the industry was up 3.8%. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the U.S. Transportation Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Mar 2026US$604.1bUS$231.8bUS$29.3b32.5x20.6x2.6x
Wed, 18 Feb 2026US$641.9bUS$230.9bUS$29.1b37.2x22.1x2.8x
Fri, 16 Jan 2026US$633.8bUS$228.5bUS$33.3b33.6x19x2.8x
Sun, 14 Dec 2025US$645.7bUS$228.1bUS$33.3b32.3x19.4x2.8x
Tue, 11 Nov 2025US$633.0bUS$227.0bUS$33.0b27.2x19.2x2.8x
Thu, 09 Oct 2025US$664.1bUS$223.6bUS$29.7b25.6x22.4x3x
Sat, 06 Sep 2025US$631.4bUS$223.5bUS$29.7b25.1x21.2x2.8x
Mon, 04 Aug 2025US$606.4bUS$219.6bUS$29.8b25.4x20.3x2.8x
Wed, 02 Jul 2025US$627.3bUS$219.7bUS$29.8b25.1x21.1x2.9x
Fri, 30 May 2025US$605.9bUS$219.1bUS$29.6b25.4x20.5x2.8x
Sun, 27 Apr 2025US$551.2bUS$216.3bUS$26.9b23.5x20.5x2.5x
Tue, 25 Mar 2025US$586.5bUS$216.3bUS$27.3b27x21.5x2.7x
Thu, 20 Feb 2025US$646.3bUS$216.0bUS$27.4b30.7x23.6x3x
Sat, 18 Jan 2025US$608.1bUS$213.1bUS$21.8b29.6x27.9x2.9x
Mon, 16 Dec 2024US$599.4bUS$213.5bUS$21.9b29x27.4x2.8x
Wed, 13 Nov 2024US$650.1bUS$222.6bUS$20.1b32.2x32.3x2.9x
Fri, 11 Oct 2024US$622.2bUS$220.6bUS$17.2b29.5x36.1x2.8x
Sun, 08 Sep 2024US$596.3bUS$220.5bUS$17.2b28.3x34.6x2.7x
Tue, 06 Aug 2024US$568.2bUS$218.0bUS$16.2b26.7x35x2.6x
Thu, 04 Jul 2024US$581.6bUS$216.9bUS$16.7b25.3x34.9x2.7x
Sat, 01 Jun 2024US$567.7bUS$217.0bUS$16.7b25.1x34x2.6x
Mon, 29 Apr 2024US$596.7bUS$214.5bUS$17.1b24x35x2.8x
Wed, 27 Mar 2024US$638.7bUS$212.7bUS$17.5b22.8x36.4x3x
Fri, 23 Feb 2024US$637.1bUS$212.6bUS$17.1b24.3x37.3x3x
Sun, 21 Jan 2024US$580.3bUS$215.7bUS$16.9b21.6x34.4x2.7x
Tue, 19 Dec 2023US$578.5bUS$216.2bUS$16.8b21.5x34.5x2.7x
Thu, 16 Nov 2023US$526.1bUS$215.7bUS$16.9b20.9x31.2x2.4x
Sat, 14 Oct 2023US$497.4bUS$217.5bUS$16.6b14.3x30x2.3x
Mon, 11 Sep 2023US$510.7bUS$214.1bUS$13.8b14.4x37.1x2.4x
Wed, 09 Aug 2023US$529.5bUS$214.2bUS$13.0b15.6x40.6x2.5x
Fri, 07 Jul 2023US$495.1bUS$216.9bUS$13.0b12.8x38.2x2.3x
Sun, 04 Jun 2023US$471.5bUS$217.3bUS$12.9b14x36.6x2.2x
Tue, 02 May 2023US$459.0bUS$215.8bUS$6.7b14.3x68.9x2.1x
Thu, 30 Mar 2023US$452.2bUS$221.0bUS$3.5b13.1x128.4x2x
Price to Earnings Ratio

128.4x


Total Market Cap: US$452.2bTotal Earnings: US$3.5bTotal Revenue: US$221.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Transportation Industry Price to Earnings3Y Average 33x202420252026
Current Industry PE
  • Investors are pessimistic on the American Transportation industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 20.6x which is lower than its 3-year average PE of 33.0x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Transportation industry have grown 103% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-2.61%
Industrials-2.50%
Transportation-1.26%
Trucking0.76%
Cargo Ground Transportation-0.52%
Railroads-2.97%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 30.9x.
    • Analysts are expecting annual earnings growth of 19.5%, which is higher than its past year's earnings decline of 18.3% per year.
  • Investors are most pessimistic about the Trucking industry, which is trading below its 3-year average of 37.1x.
Forecasted Growth
  • Analysts are most optimistic on the Cargo Ground Transportation industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings decline of 18% per year.
  • In contrast, the Railroads industry is expected to see its earnings grow by 9.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ODFL Old Dominion Freight LineUS$183.920.8%
+US$308.5m		8.2%PE37.4x
RXO RXOUS$13.2310.6%
+US$208.5m		-30.5%PS0.4x
ARCB ArcBestUS$87.584.1%
+US$76.9m		17.6%PE32.5x
CAR Avis Budget GroupUS$99.902.0%
+US$67.7m		64.7%PS0.3x
WETO Wetour RoboticsUS$0.7936.0%
+US$52.0m		-80.3%PS12.6x

Latest News

NSC
US$281.09
Norfolk Southern
7D
-3.3%
1Y
19.3%

NSC: Merger Synergies And Rail Expansion Will Drive Future Infrastructure Appeal

Analysts have nudged the Norfolk Southern fair value estimate up by about $1 to roughly $314, reflecting slightly higher target multiples and continued focus on long lived rail infrastructure as well as potential merger related synergies highlighted in recent research. Analyst Commentary Recent research on Norfolk Southern reflects a mix of optimism and caution as analysts adjust targets and ratings around the proposed Union Pacific transaction and the broader appeal of rail infrastructure.
ARCB
US$87.58
ArcBest
7D
4.1%
1Y
17.6%

ARCB: Tighter Trucking Capacity And HALO Assets Will Support Future Upside

ArcBest's analyst fair value estimate has moved from $115.65 to $123.17, reflecting Street research that generally nudged price targets higher, driven by expectations for firmer revenue growth, slightly better profit margins, and support for asset heavy transport networks viewed as less exposed to AI driven disruption, even as some firms highlighted mixed mid quarter trends and softer recent volumes. Analyst Commentary Bullish analysts have been lifting ArcBest price targets across a wide range, framing the company as a beneficiary of tighter trucking capacity, improving transport trends, and the appeal of physical transport networks that are viewed as less exposed to AI driven disruption.
WETO
US$0.79
Wetour Robotics
7D
36.0%
1Y
-80.3%
UBER
US$73.89
Uber Technologies
7D
-1.0%
1Y
-3.4%

Uber Technologies (UBER): From Ride-Hailing Giant to Autonomous Aggregator

Vestra has decreased revenue growth from 15.0% to 10.6%.
GRAB
US$3.56
Grab Holdings
7D
-5.1%
1Y
-22.9%

GRAB: Share Buyback And Lidar Pact Will Drive Future Upside

Analysts have reduced their price target on Grab Holdings to $6.50 from $6.55, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E following recent upgrades from major firms. Analyst Commentary Bullish Takeaways Bullish analysts highlight recent upgrades as a signal that current pricing is closer to what they view as fair value, even after adjusting assumptions for discount rate and future P/E.
XPO
US$181.85
XPO
7D
-1.9%
1Y
61.6%

XPO: Freight Cycle Weakness Will Test Lofty Earnings Expectations

The analyst price target for XPO has been raised from $105.46 to $134.88, reflecting analysts' updated views on faster revenue growth, higher profit margins, and more supportive sector research commentary around less than truckload carriers and transportation networks. Analyst Commentary Recent Street research around XPO shows a clear split between more optimistic views tied to less than truckload fundamentals and efficiency initiatives, and a growing pocket of caution around valuation, earnings risk, and the freight cycle.
MRTN
US$12.18
Marten Transport
7D
3.6%
1Y
-12.6%
CSX
US$38.17
CSX
7D
-4.0%
1Y
27.9%

CSX: Heavy Asset Rail Franchise Will Balance Volume Softness And Safety Events

CSX's updated analyst price target edges higher by about $0.50 to $40.81. The change reflects slightly adjusted assumptions on growth, margins, and future P/E as analysts weigh mixed rail volume trends, ongoing transportation sector updates, and the view that rail networks remain hard to replicate infrastructure assets.
ULH
US$17.67
Universal Logistics Holdings
7D
11.1%
1Y
-35.2%
CAR
US$99.90
Avis Budget Group
7D
2.0%
1Y
64.7%
ODFL
US$183.92
Old Dominion Freight Line
7D
0.8%
1Y
8.2%

ODFL: Tighter Capacity And HALO Network Will Shape Freight Recovery Outlook

Old Dominion Freight Line's analyst fair value estimate shifts to $199.25 from $167.79 as analysts adjust price targets across the transports group, citing slightly higher modeled revenue growth, a modestly stronger profit margin profile, and a higher assumed future P/E multiple. Analyst Commentary Recent Street research around Old Dominion Freight Line reflects a mix of optimism on the long term freight cycle and caution on near term earnings power and valuation.
YMM
US$8.30
Full Truck Alliance
7D
-5.8%
1Y
-37.8%
R
US$191.78
Ryder System
7D
0.6%
1Y
32.1%
UNP
US$234.92
Union Pacific
7D
-3.0%
1Y
-0.1%

UNP: Merger Synergies And Rail Infrastructure Resilience Will Shape Forward Outlook

The updated analyst price target for Union Pacific edges higher, with our fair value estimate moving from $266.08 to $272.21 as analysts factor in potential cost synergies from the proposed Norfolk Southern merger, sustained operating performance across the rail group, and the appeal of hard to replicate rail infrastructure. Analyst Commentary Recent Street research on Union Pacific clusters around two big themes: the proposed Norfolk Southern merger and the value the market places on irreplaceable rail infrastructure.
RXO
US$13.23
RXO
7D
10.6%
1Y
-30.5%

RXO: Supply Side Recovery And Credit Strain Will Limit Future Upside

Analysts have raised their RXO price targets to a range of roughly $11 to $17, citing tighter truckload capacity, improving spot rates, and early indications that contract renewals and regulatory enforcement could support a healthier freight environment over the next couple of years. Analyst Commentary Street research on RXO has shifted into a fairly tight band of expectations, with price targets clustering in the low to mid teens.
UHAL
US$42.19
U-Haul Holding
7D
-7.3%
1Y
-33.8%