Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Landstar System Inc.LSTR · other | |
|---|---|
| Grade |  Bsecond fifth of 336 graded peers; percentile 28.4, sampling error 2.6 points; lower is stronger |
| Rank | 96 of 336 |
| Profitability | Bpercentile 28.4 |
| Solvency | A/Bpercentile 21.0 |
| Growth and financing | Dpercentile 71.5 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.6B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer · fortress balance sheetnot computable: distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Feb 24, 2026227 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $169.412026-10-08; market equity $5.7B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 24, 2026; the document on sec.gov.
Landstar System, Inc. was incorporated in January 1991 under the laws of the State of Delaware and has been a publicly held company since its initial public offering in March 1993. The principal executive offices of Landstar System, Inc. (collectively with its subsidiaries and other affiliated companies referred to herein as “Landstar” or the “Company,” unless the context otherwise requires) is located at 13410 Sutton Park Drive South, Jacksonville, Florida 32224 and its telephone number is (904) 398-9400.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 28.4 | |||||||
| Gross profitability | not computable | 27.1% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | 27.0% | [3-11] | 10.0% | 10.7 | 151 | 2025-12-27 | |
| Accruals ratio | (6.4%) | [1,12-14] | (5.9%) | 46.1 | 506 | 2025-12-27 | |
| Gross margin stability, five years | not computable | 2.2 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 21.0 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-03-28 | |||||||
| Altman Z double-prime | not computable | 2.05 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | not computable | 2.52x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | 27.14x | [5,15] | 2.18x | 9.2 | 88 | 2025-12-27 | |
| Current ratio | 1.75x | [16-17] | 1.32x | 32.9 | 506 | 2025-12-27 | |
| Growth and financing, sleeve percentile 71.5 | |||||||
| Revenue growth, three-year compound | (13.9%) | [2,18-20] | 5.1% | 92.0 | 403 | 2025-12-27 | |
| Free cash flow growth, three-year compound | (28.8%) | [13,21-27] | 8.7% | 87.7 | 220 | 2025-12-27 | |
| Reinvestment rate | not computable | 11.9% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | (5.4%) | [1,14,28-29] | 4.1% | 81.9 | 438 | 2025-12-27 | |
| Net share issuance, one year | (3.6%) | [30-31] | (0.4%) | 24.2 | 356 | 2026-01-23 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.210; sampling error 2.6 percentile points on 336 peers.
Among 336 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 91 | FTI Consulting, Inc. (FCN) FTI Consulting, Inc. (FCN) Bsecond fifth; percentile 26.9 NYSE · Services-Management Consulting Services market equity $3.9B; last close $140.45 Warnings: fortress balance sheet; 10 of 14 inputs | 26.9 | B | fortress balance sheet |
| 92 | Intrepid Potash, Inc. (IPI) Intrepid Potash, Inc. (IPI) Bsecond fifth; percentile 27.2 NYSE · Mining & Quarrying of Nonmetallic Minerals (No Fuels) market equity $444.7M; last close $33.38 No active warnings; 9 of 14 inputs | 27.2 | B | |
| 93 | Legacy Housing Corp. (LEGH) Legacy Housing Corp. (LEGH) Bsecond fifth; percentile 27.5 Nasdaq · Mobile Homes market equity $674.7M; last close $28.38 No active warnings; 9 of 14 inputs | 27.5 | B | |
| 94 | Onespaworld Holdings Ltd. (OSW) Onespaworld Holdings Ltd. (OSW) Bsecond fifth; percentile 27.8 Nasdaq · Services-Membership Sports & Recreation Clubs market equity $2.4B; last close $23.49 No active warnings; 10 of 14 inputs | 27.8 | B | |
| 95 | Universal Technical Institute Inc. (UTI) Universal Technical Institute Inc. (UTI) Bsecond fifth; percentile 28.1 NYSE · Services-Educational Services market equity $1.1B; last close $20.29 Warnings: fortress balance sheet; 10 of 14 inputs | 28.1 | B | fortress balance sheet |
| 96 | Landstar System Inc. (LSTR) Landstar System Inc. (LSTR) Bsecond fifth; percentile 28.4 Nasdaq · Trucking (No Local) market equity $5.7B; last close $169.41 Warnings: late filer, fortress balance sheet; 8 of 14 inputs | 28.4 | B | late filer, fortress balance sheet |
| 97 | HireQuest, Inc. (HQI) HireQuest, Inc. (HQI) Bsecond fifth; percentile 28.7 Nasdaq · Services-Help Supply Services market equity $252.7M; last close $18.07 No active warnings; 7 of 14 inputs | 28.7 | B | |
| 98 | Franklin Covey Co. (FC) Franklin Covey Co. (FC) Bsecond fifth; percentile 29.0 NYSE · Services-Management Services market equity $206.1M; last close $18.32 Warnings: fortress balance sheet; 11 of 14 inputs | 29.0 | B | fortress balance sheet |
| 99 | Acorn Energy, Inc. (ACFN) Acorn Energy, Inc. (ACFN) Bsecond fifth; percentile 29.3 Nasdaq · Services-Engineering Services market equity $47.7M; last close $19.07 Warnings: fortress balance sheet; 7 of 14 inputs | 29.3 | B | fortress balance sheet |
| 100 | Planet Fitness, Inc. (PLNT) Planet Fitness, Inc. (PLNT) Bsecond fifth; percentile 29.6 NYSE · Services-Membership Sports & Recreation Clubs last close $44.05 No active warnings; 9 of 14 inputs | 29.6 | B | |
| 101 | Broadridge Financial Solutions, Inc. (BR) Broadridge Financial Solutions, Inc. (BR) Bsecond fifth; percentile 29.9 NYSE · Services-Business Services, NEC market equity $18.8B; last close $165.13 No active warnings; 10 of 14 inputs | 29.9 | B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 31.4 | 2204 |
| sector peers, equal sleeves (the grade) | B | 28.4 | 336 |
| same exchange, equal sleeves | B | 38.0 | 1219 |
| sector peers, equal inputs | C | 51.0 | 336 |
Each letter is one fifth of the 336 graded peers, about 67 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 50.9% | 2.0% | 84 | hotter than 84 of 100 peers |
| Distance from 52-week high | (24.8%) | (26.8%) | 53 | closer to its high than 53 of 100 peers |
| EBIT to enterprise value | 2.8% | 4.4% | 31 | pricier than 69 of 100 peers |
| Free cash flow yield | 3.7% | 4.1% | 47 | pricier than 53 of 100 peers |
| Book value to price | 0.14 | 0.34 | 24 | pricier than 76 of 100 peers |
| Sales to price | 0.83 | 0.70 | 55 | pricier than 45 of 100 peers |
| Composite equity issuance, five years | (22.8%) | (8.8%) | 26 | more equity-funded than 26 of 100 peers |
| Relative strength against the sector, log excess return | 0.26 | (0.13) | 84 | ahead of 84 of 100 peers |
Inputs: market equity $5.7B; EBIT $151.6M; free cash flow $215.0M; book equity $799.0M; sales $4.7B; debt $0; cash $353.3M[32].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-27 | ||
|---|---|---|
| Return on assets above zero | 6.3% | ✓ pass[12,14] |
| Operating cash flow above zero | $224.9M | ✓ pass[13] |
| Return on assets improved | (4.5 pts) | ✗ fail[12,14,28,33] |
| Operating cash flow exceeds net income | $109.9M | ✓ pass[12-13] |
| Long-term leverage fell | 0.0 pts | ✗ fail[1,4,9,14,28] |
| Current ratio improved | (21.3 pts) | ✗ fail[16-17,34-35] |
| No new shares issued | (3.6%) | ✓ pass[30-31] |
| Gross margin improved | n/a | |
| Asset turnover improved | (5.9 pts) | ✗ fail[2,14,18,28] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $353.3M[36] |
| Operating cash flow, four quarters | $247.4M[13,36-40] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 72 |
| 10-Q received Jul 29, 2026 | |
| Median daily dollar volume | $72.2M |
| 63 sessions | |
| Days since newest grade input | 227 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.6B | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $4.7B | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $396.7M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $0 | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 5 | operating income | us-gaap:OperatingIncomeLoss | $151.6M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 6 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $150.6M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 7 | income tax | us-gaap:IncomeTaxExpenseBenefit | $35.6M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 8 | book equity | us-gaap:StockholdersEquity | $795.7M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 9 | total debt | us-gaap:LongTermDebt | $0 | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $972.4M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 11 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $515.0M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 12 | net income | us-gaap:NetIncomeLoss | $115.0M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 13 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $224.9M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $1.8B | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 15 | interest expense | us-gaap:InterestExpense | $5.6M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 16 | current assets | us-gaap:AssetsCurrent | $1.2B | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 17 | current liabilities | us-gaap:LiabilitiesCurrent | $695.8M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 18 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $4.8B | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $5.3B | 2023-12-30 | 2026-02-24 | 10-K | filing · viewer · series |
| 20 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $7.4B | 2022-12-31 | 2025-02-24 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $9.9M | 2025-12-27 | 2026-02-24 | 10-K | filing · viewer · series |
| 22 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $286.6M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $31.0M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 24 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $393.6M | 2023-12-30 | 2026-02-24 | 10-K | filing · viewer · series |
| 25 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $25.7M | 2023-12-30 | 2026-02-24 | 10-K | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $622.7M | 2022-12-31 | 2025-02-24 | 10-K | filing · viewer · series |
| 27 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $26.0M | 2022-12-31 | 2025-02-24 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $1.8B | 2023-12-30 | 2025-02-24 | 10-K | filing · viewer · series |
| 29 | assets | us-gaap:Assets | $1.9B | 2022-12-31 | 2024-02-26 | 10-K | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 34,058,726 | 2026-01-23 | 2026-02-24 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 35,316,073 | 2025-01-24 | 2025-02-24 | 10-K | filing · viewer · series |
| 32 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 33,928,210 | 2026-04-20 | 2026-04-29 | 10-Q | filing · viewer · series |
| 33 | net income | us-gaap:NetIncomeLoss | $195.9M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 34 | current assets | us-gaap:AssetsCurrent | $1.3B | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 35 | current liabilities | us-gaap:LiabilitiesCurrent | $673.2M | 2024-12-28 | 2026-02-24 | 10-K | filing · viewer · series |
| 36 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $353.3M | 2026-03-28 | 2026-04-29 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $78.2M | 2026-03-28 | 2026-04-29 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $152.2M | 2025-09-27 | 2025-10-28 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $62.8M | 2025-06-28 | 2025-07-29 | 10-Q | filing · viewer · series |
| 40 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $55.7M | 2025-03-29 | 2026-04-29 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 28.4 is 8.4 points from the nearest band edge; sampling error is 2.6 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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