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U.S. Transportation Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies49
  • 7D1.5%
  • 3M-1.5%
  • 1Y4.3%
  • YTD0.2%

Last week, the Transportation industry hasn't moved much but Union Pacific is up 4.9% in that time. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 9.3% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026US$631.5bUS$228.5bUS$33.2b32.8x19x2.8x
Fri, 26 Dec 2025US$631.4bUS$228.3bUS$33.3b30.9x19x2.8x
Sun, 23 Nov 2025US$606.4bUS$227.2bUS$33.2b26.6x18.3x2.7x
Tue, 21 Oct 2025US$652.3bUS$223.7bUS$29.5b27.3x22.1x2.9x
Thu, 18 Sep 2025US$648.1bUS$223.7bUS$29.7b24.7x21.8x2.9x
Sat, 16 Aug 2025US$629.9bUS$222.5bUS$30.1b26.6x20.9x2.8x
Mon, 14 Jul 2025US$649.7bUS$219.7bUS$29.8b26.2x21.8x3x
Wed, 11 Jun 2025US$609.9bUS$219.0bUS$29.6b26.3x20.6x2.8x
Fri, 09 May 2025US$570.4bUS$218.4bUS$29.4b24.3x19.4x2.6x
Sun, 06 Apr 2025US$521.9bUS$216.8bUS$26.5b24.6x19.7x2.4x
Tue, 04 Mar 2025US$614.9bUS$216.1bUS$27.3b28x22.5x2.8x
Thu, 30 Jan 2025US$616.3bUS$213.1bUS$22.0b29.4x28x2.9x
Sat, 28 Dec 2024US$583.5bUS$213.4bUS$21.9b28.8x26.7x2.7x
Mon, 25 Nov 2024US$645.2bUS$213.4bUS$20.8b31.5x31x3x
Wed, 23 Oct 2024US$628.9bUS$220.4bUS$17.9b29.9x35.2x2.9x
Fri, 20 Sep 2024US$616.8bUS$220.6bUS$17.2b29.8x35.8x2.8x
Sun, 18 Aug 2024US$604.0bUS$219.8bUS$17.0b28x35.6x2.7x
Tue, 16 Jul 2024US$589.7bUS$217.0bUS$16.7b25.8x35.4x2.7x
Thu, 13 Jun 2024US$578.1bUS$217.0bUS$16.7b25.3x34.7x2.7x
Sat, 11 May 2024US$598.1bUS$216.0bUS$16.6b26.1x36.1x2.8x
Mon, 08 Apr 2024US$637.8bUS$214.9bUS$18.2b24x35x3x
Wed, 06 Mar 2024US$653.2bUS$212.8bUS$17.5b24.3x37.3x3.1x
Fri, 02 Feb 2024US$600.9bUS$215.0bUS$16.3b22x36.9x2.8x
Sun, 31 Dec 2023US$588.3bUS$216.3bUS$16.9b21.6x34.7x2.7x
Tue, 28 Nov 2023US$542.2bUS$216.1bUS$16.8b21.1x32.3x2.5x
Thu, 26 Oct 2023US$475.7bUS$215.8bUS$15.7b14.1x30.3x2.2x
Sat, 23 Sep 2023US$501.0bUS$214.2bUS$13.7b14.5x36.5x2.3x
Mon, 21 Aug 2023US$514.3bUS$214.0bUS$13.3b15.2x38.8x2.4x
Wed, 19 Jul 2023US$525.0bUS$217.1bUS$12.8b13.1x41.1x2.4x
Fri, 16 Jun 2023US$484.8bUS$217.2bUS$12.9b13.1x37.6x2.2x
Sun, 14 May 2023US$467.4bUS$217.3bUS$12.6b14.4x37.1x2.2x
Tue, 11 Apr 2023US$453.6bUS$221.0bUS$3.5b13.1x129x2.1x
Thu, 09 Mar 2023US$477.1bUS$220.7bUS$3.4b13.9x142.2x2.2x
Sat, 04 Feb 2023US$509.9bUS$222.5bUS$3.3b12.4x155.5x2.3x
Price to Earnings Ratio

155.5x


Total Market Cap: US$509.9bTotal Earnings: US$3.3bTotal Revenue: US$222.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Transportation Industry Price to Earnings3Y Average 39.5x202420252026
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 19.0x which is lower than its 3-year average PE of 39.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Transportation industry have grown 116% 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 Market2.04%
Industrials0.99%
Transportation1.51%
Railroads4.75%
Cargo Ground Transportation1.39%
Trucking-2.18%
Industry PE
  • Investors are most optimistic about the Cargo Ground Transportation industry which is trading above its 3-year average PE ratio of 30.2x.
    • Analysts are expecting annual earnings growth of 19.9%, which is higher than its past year's earnings decline of 19.8% per year.
  • Investors are most pessimistic about the Trucking industry, which is trading below its 3-year average of 35.3x.
Forecasted Growth
  • Analysts are most optimistic on the Cargo Ground Transportation industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings decline of 20% per year.
  • In contrast, the Trucking industry is expected to see its earnings grow by 5.9% 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
UNP Union PacificUS$232.554.9%
+US$6.4b		-6.7%PE19.6x
CSX CSXUS$37.676.1%
+US$4.0b		15.3%PE24.3x
NSC Norfolk SouthernUS$288.973.1%
+US$1.9b		14.5%PE21.9x
ODFL Old Dominion Freight LineUS$174.442.6%
+US$928.4m		-8.2%PE34.5x
GRAB Grab HoldingsUS$4.694.0%
+US$735.7m		2.9%PE157.1x

Latest News

LYFT
US$17.54
Lyft
7D
-5.1%
1Y
30.6%
UBER
US$81.24
Uber Technologies
7D
-3.0%
1Y
19.3%
NSC
US$288.97
Norfolk Southern
7D
3.1%
1Y
14.5%
UNP
US$232.55
Union Pacific
7D
4.9%
1Y
-6.7%

UNP: Merger Review And Regulatory Scrutiny Will Ultimately Unlock Future Upside

Narrative Update Overview Analysts have nudged their implied price target for Union Pacific higher by about US$3, to roughly US$263, as they factor in modest tweaks to discount rates, revenue growth, margins and future P/E assumptions, while weighing recent commentary on regulatory risks, freight softness and the proposed Norfolk Southern merger. Analyst Commentary Recent research on Union Pacific highlights a split view, with some analysts focused on longer term merger benefits and intermodal opportunities, while others are more cautious about regulatory risk, freight softness and valuation after the share price rally.
JBHT
US$202.88
J.B. Hunt Transport Services
7D
-0.3%
1Y
17.5%
ULH
US$15.95
Universal Logistics Holdings
7D
-3.3%
1Y
-65.7%

ULH: Share Repurchases And Revenue Outlook Will Support Fairly Valued Shares

Analysts left their fair value estimate for Universal Logistics Holdings unchanged at US$17.00, keeping key inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions effectively steady based on their latest review. What's in the News Universal Logistics Holdings reported that from June 29, 2025 to September 27, 2025, it repurchased 0 shares for US$0 million, keeping the latest tranche inactive.
RXO
US$14.53
RXO
7D
-0.8%
1Y
-44.1%

RXO: AI And Tightening Capacity Will Shape Balanced EPS Recovery Outlook

Narrative Update Analysts have trimmed their blended price target on RXO slightly, with the model fair value moving from about US$15.65 to US$15.50. This reflects mixed Q3 results, revised 2026 earnings assumptions, and differing views on how tightening truckload capacity could support the business over time.
HTZ
US$5.30
Hertz Global Holdings
7D
-1.7%
1Y
23.8%

HTZ: Completed Buyback Will Limit Future Upside Despite Stable Business Assumptions

Analysts have kept their fair value estimate for Hertz Global Holdings broadly unchanged, with only minor tweaks to inputs such as the discount rate and future P/E, guiding a small refinement in their implied price target in US$ terms. What's in the News Hertz Global Holdings reported that, from July 1, 2025 to September 30, 2025, it repurchased 0 shares for US$0 million under its existing buyback program (Key Developments).
CAR
US$117.52
Avis Budget Group
7D
-3.2%
1Y
27.3%

CAR: Future Share Repurchase Capacity And Lower P/E May Unlock Upside

Analysts now place their price target for Avis Budget Group at US$184, down from US$200, reflecting updated assumptions for revenue growth, profit margins and a lower future P/E multiple. What's in the News From July 1, 2025 to September 30, 2025, Avis Budget Group reported no share repurchases under its existing buyback program, with 0 shares repurchased for US$0 million in that period (Key Developments).
CSX
US$37.67
CSX
7D
6.1%
1Y
15.3%
KNX
US$54.90
Knight-Swift Transportation Holdings
7D
-0.3%
1Y
-6.2%

KNX: Tightening Capacity And AI Efficiencies Will Shape A Gradual Freight Recovery

Analysts have lifted their price target on Knight-Swift Transportation Holdings by about US$7. This reflects updated assumptions around fair value, a slightly lower discount rate, higher revenue growth forecasts, broadly stable profit margins, and a higher future P/E multiple informed by recent mixed but generally higher Street targets.
SAIA
US$350.00
Saia
7D
2.7%
1Y
-29.4%

SAIA: Cost Controls And Capacity Tightness Will Shape Margins And Volume Risk

Narrative Update on Saia Analysts have lifted their blended fair value estimate for Saia to $354.95 from $326.81. This change reflects higher Street price targets that balance concerns about sub seasonal freight trends and elevated P/E multiples with expectations for tighter trucking capacity, regulation driven attrition, and ongoing network optimization into 2026.
XPO
US$148.60
XPO
7D
1.9%
1Y
6.1%

XPO: Margin Efficiency And AI Productivity Will Shape Mixed 2026 Risk Reward Profile

The analyst price target for XPO increased slightly to US$156.08 from US$151.24, as analysts point to continued margin efficiency, modestly adjusted revenue expectations, and a slightly higher assumed future P/E multiple in their updated models. Analyst Commentary Recent research on XPO reflects a mixed but engaged analyst community, with several firms revisiting their price targets and ratings as they reassess the company’s execution, margin profile, and exposure to trucking and less than truckload markets.
GRAB
US$4.69
Grab Holdings
7D
4.0%
1Y
2.9%

GRAB: Indonesia Merger Talks Will Support Future Market Leadership

Analysts have nudged their price target for Grab Holdings slightly higher to about US$6.83 per share, citing recent upgrades, better than expected Q3 results, raised FY25 guidance, and confidence in the company's category leading position and long term growth outlook in Southeast Asia. Analyst Commentary Bullish Takeaways Bullish analysts highlight Q3 results that were better than expected, with the company beating both top and bottom line consensus, which supports their case for higher valuation multiples.
SNDR
US$29.55
Schneider National
7D
2.6%
1Y
-1.2%

SNDR: Early Cycle Supply Tightness And Digital Gains Will Shape Freight Recovery Uncertainty

Analysts have lifted their average price target for Schneider National by about $4 to roughly $30.73, reflecting updated expectations around revenue growth, profit margins, and a higher future P/E multiple, while still flagging risks from softer freight demand and seasonal truckload pressure. Analyst Commentary Recent research notes on Schneider National give you a mixed but useful read on how the Street is thinking about the stock, with several firms lifting price targets while still stressing that freight conditions and seasonality keep the setup far from risk free.
ODFL
US$174.44
Old Dominion Freight Line
7D
2.6%
1Y
-8.2%

ODFL: Capacity Tightening And Buybacks Will Shape Returns Through 2026

Analysts nudged their price targets on Old Dominion Freight Line higher, lifting the fair value estimate from about $155.92 to $167.17 as they weigh tighter trucking capacity, potential margin recovery into 2026, and updated earnings models against ongoing demand and cyclicality risks. Analyst Commentary Recent research on Old Dominion Freight Line clusters around a higher fair value range, but the reasoning splits between optimism on execution into 2026 and caution on the freight cycle and earnings risk.