Covenant Logistics Group, Inc. (CVLG) Financial Statements
Industry: Trucking (No Local)
In fiscal 2025, Covenant Logistics reported revenue of $1.16B, up 2.9% from $1.13B the year before. Net income was $7.2M (a 0.6% net margin), or $0.27 per diluted share. Gross margin was 0.3% and operating margin was 0.3%. Operating activities generated $113.6M of cash, leaving -$33.9M of free cash flow. At fiscal year end, Covenant Logistics held $1.05B in total assets against $641.6M in total liabilities, including $4.9M of cash and equivalents.
Open the full interactive Covenant Logistics financials → Quarterly statements, key ratios, valuation history and price charts.
Covenant Logistics Key Stats
| Share Price | $31.45 |
|---|---|
| Market Cap | $836.2M |
| P/E Ratio | 116.5 |
| Dividend Yield | 0.84% |
| Revenue YoY Growth | +2.9% |
| 52-Week Range | $17.90 – $49.78 |
| Shares Outstanding | 25.2 million (basic, 2026 Q2) |
Covenant Logistics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $838.6M | $1.05B | $1.22B | $1.10B | $1.13B | $1.16B |
| Cost of Goods Sold | $852.6M | $978.8M | $1.10B | $1.04B | $1.09B | $1.16B |
| Gross Profit | -$14.0M | $67.2M | $120.7M | $58.8M | $44.8M | $2.9M |
| Operating Income | -$14.0M | $67.2M | $120.7M | $58.8M | $44.8M | $2.9M |
| Pre-Tax Income | -$16.9M | $79.2M | $142.8M | $72.2M | $45.9M | $5.6M |
| Income Tax | -$2.8M | $21.0M | $34.9M | $17.6M | $10.6M | $1.2M |
| Net Income | -$42.7M | $60.7M | $108.7M | $55.2M | $35.9M | $7.2M |
| Diluted EPS | -$0.61 | $0.89 | $1.75 | $1.00 | $1.30 | $0.27 |
Covenant Logistics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $296.9M | $295.4M | $307.2M | $332.9M |
| Net Income | $9.1M | -$18.3M | $4.4M | $8.5M |
| Diluted EPS | $0.35 | -$0.68 | $0.17 | $0.32 |
Covenant Logistics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.4M | $8.4M | $68.7M | $2.3M | $35.6M | $4.9M |
| Current Assets | $147.8M | $188.5M | $222.7M | $185.9M | $213.8M | $232.8M |
| Total Assets | $676.7M | $651.7M | $796.6M | $954.4M | $997.6M | $1.05B |
| Current Liabilities | $133.4M | $142.7M | $156.1M | $170.3M | $181.3M | $210.0M |
| Total Long-Term Debt | $78.1M | $48.7M | $132.8M | $257.3M | $262.4M | $311.1M |
| Total Liabilities | $386.1M | $302.0M | $419.5M | $551.0M | $559.2M | $641.6M |
| Shareholders' Equity | $290.6M | $349.7M | $377.1M | $403.4M | $438.3M | $404.0M |
Covenant Logistics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $63.0M | $73.2M | $159.2M | $84.8M | $122.9M | $113.6M |
| Cash From Investing | $138.0M | $10.3M | -$86.2M | -$235.9M | -$107.7M | -$140.1M |
| Cash From Financing | -$236.3M | -$83.6M | -$12.8M | $84.7M | $18.1M | -$4.3M |
| Free Cash Flow | -$31.0M | $37.9M | $58.8M | -$132.8M | -$30.1M | -$33.9M |
| Dividends Paid | — | — | $4.3M | $5.8M | $5.8M | $7.2M |
Figures from Covenant Logistics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Covenant Logistics financials page for every line item.
Covenant Logistics Company Profile
| Ticker | CVLG |
|---|---|
| Exchange | NYSE |
| Industry | Trucking (No Local) |
| Headquarters | Chattanooga, Tennessee |
| Incorporated in | Nevada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0000928658 |
Frequently Asked Questions
What was Covenant Logistics' revenue in fiscal 2025?
Covenant Logistics (CVLG) reported revenue of $1.16B for fiscal 2025.
What is Covenant Logistics' annual revenue history?
Covenant Logistics' annual revenue by fiscal year: 2020: $838.6M; 2021: $1.05B; 2022: $1.22B; 2023: $1.10B; 2024: $1.13B; 2025: $1.16B.
What was Covenant Logistics' net income in fiscal 2025?
Covenant Logistics reported net income of $7.2M for fiscal 2025.
What was Covenant Logistics' earnings per share (EPS) in fiscal 2025?
Covenant Logistics' diluted EPS was $0.27 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Covenant Logistics generate in fiscal 2025?
Covenant Logistics generated -$33.9M of free cash flow in fiscal 2025.
What was Covenant Logistics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Covenant Logistics reported revenue of $332.9M.
How much debt does Covenant Logistics have?
Covenant Logistics reported $311.1M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Covenant Logistics are outstanding?
Covenant Logistics reported a weighted average of 25.2 million basic shares outstanding in 2026 Q2.
What is Covenant Logistics' market cap?
Based on its latest closing price, Covenant Logistics (CVLG) has a market capitalization of about $836.2M.
When does Covenant Logistics' fiscal year end?
Covenant Logistics' fiscal year end, as registered with the SEC, is December 31.
Where is Covenant Logistics headquartered?
Covenant Logistics lists its business address in Chattanooga, Tennessee in its SEC filings.