Covenant Logistics (CVLG) Operating Margin (2010 - 2026)
Covenant Logistics (CVLG) posted quarterly Operating Margin of 2.05% for Q1 2026, down 79.0% YoY from 9.74% in Q1 2025, and down 23.39% sequentially from 2.67% in Q3 2025.
Covenant Logistics (CVLG) Operating Margin (2010 - 2026) Analysis & Trends
Covenant Logistics has disclosed Operating Margin across 17 years of filings, most recently posting 2.05% for Q1 2026.
- In Q1 2026, Operating Margin fell 79.0% year-over-year to 2.05%; the TTM figure through Mar 2026 stood at 2.84% (down 106.0% YoY), while the FY2025 annual figure was 0.25%, down 370.0% from the prior year.
- Operating Margin declined to 2.05% in Q1 2026, from 2.67% in the prior quarter.
- Over the last five years, Operating Margin for CVLG reached as high as 39.54% in Q3 2022 and fell as low as 1.56% in Q1 2024.
- The 5-year median for Operating Margin is 5.21% (2023), against an average of 7.01%.
- Annual changes were most pronounced in 2022 — Operating Margin soared 3223 bps — and 2023, when it sank 3430 bps.
- A 5-year view of Operating Margin shows it stood at 3.68% in 2022, then jumped by 41 bps to 5.21% in 2023, then gained by 8 bps to 5.64% in 2024, then tumbled by 53 bps to 2.67% in 2025, then fell by 23 bps to 2.05% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 2.05%, 2.67%, and 3.82% for Q1 2026, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | TFI International | 160.26 Bn | 160.08 Bn | 963.70 Mn | -45.60% |
| 2 | Old Dominion Freight Line | 45.40 Bn | 45.11 Bn | 1.33 Bn | 23.78% |
| 3 | Xpo | 24.25 Bn | 24.01 Bn | 1.67 Bn | 8.30% |
| 4 | Knight-Swift Transportation Holdings | 12.57 Bn | 12.51 Bn | 1.57 Bn | 1.54% |
| 5 | Saia | 11.19 Bn | 11.15 Bn | - | 8.29% |
| 6 | Schneider National | 6.37 Bn | 6.11 Bn | 1.27 Bn | 2.39% |
| 7 | Rxo | 4.69 Bn | 4.67 Bn | 254.00 Mn | -1.96% |
| 8 | Arcbest | 3.12 Bn | 3.04 Bn | 951.93 Mn | 0.34% |
| 9 | Werner Enterprises | 2.63 Bn | 2.59 Bn | 726.17 Mn | 0.49% |
| 10 | Covenant Logistics | 1.12 Bn | 1.11 Bn | 292.96 Mn | 2.05% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 2.05% |
| Sep 30, 2025 | 2.67% |
| Jun 30, 2025 | 3.82% |
| Mar 31, 2025 | 2.83% |
| Sep 30, 2024 | 5.64% |
| Jun 30, 2024 | 5.42% |
| Mar 31, 2024 | 1.56% |
| Dec 31, 2023 | 5.21% |
| Sep 30, 2023 | 5.24% |
| Jun 30, 2023 | 4.30% |
| Mar 31, 2023 | 6.61% |
| Dec 31, 2022 | 3.68% |
| Sep 30, 2022 | 39.54% |
| Jun 30, 2022 | 8.47% |
| Mar 31, 2022 | 8.18% |
| Dec 31, 2021 | 6.20% |
| Sep 30, 2021 | 7.31% |
| Jun 30, 2021 | 7.15% |
| Mar 31, 2021 | 4.76% |
| Dec 31, 2020 | 4.25% |