Covenant Logistics (CVLG) Operating Margin (2010 - 2026)
Covenant Logistics (CVLG) posted quarterly Operating Margin of 2.05% for Q1 2026, down 79.0% year-over-year from 9.74% in Q1 2025, and down 34.45% quarter-over-quarter from 3.12% in Q3 2025.
Covenant Logistics (CVLG) Operating Margin (2010 - 2026) Analysis & Trends
Covenant Logistics (CVLG) has reported Operating Margin for 17 consecutive years, with 2.05% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 79.0% year-over-year to 2.05%; the TTM figure through Mar 2026 stood at 2.98% (down 47.0% YoY), while the FY2025 annual figure was 0.25%, down 370.0% from the prior year.
- Operating Margin fell to 2.05% in Q1 2026 per CVLG's latest filing, from 3.12% in the prior quarter.
- Across five years, Operating Margin topped out at 39.54% in Q3 2022 and bottomed at 1.56% in Q1 2024.
- Historically, Operating Margin has averaged 6.79% across 5 years, with a median of 4.23% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin soared 3223 bps — and 2023, when it tumbled 3430 bps.
- Covenant Logistics' Operating Margin stood at 3.68% in 2022, then surged by 41 bps to 5.21% in 2023, then decreased by 19 bps to 4.23% in 2024, then decreased by 26 bps to 3.12% in 2025, then plunged by 34 bps to 2.05% in 2026.
- Business Quant data shows CVLG's Operating Margin at 2.05% in Q1 2026, 3.12% in Q3 2025, and 3.35% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Old Dominion Freight Line | 43.06 Bn | 42.78 Bn | 1.52 Bn | 29.94% |
| 2 | Xpo | 23.33 Bn | 23.03 Bn | 1.89 Bn | 11.51% |
| 3 | TFI International | 11.61 Bn | 11.41 Bn | - | - |
| 4 | Knight-Swift Transportation Holdings | 11.49 Bn | 11.31 Bn | 1.77 Bn | 5.00% |
| 5 | Saia | 9.76 Bn | 9.68 Bn | - | 13.09% |
| 6 | Schneider National | 6.25 Bn | 5.72 Bn | 1.00 Bn | 4.55% |
| 7 | Rxo | 3.76 Bn | 3.75 Bn | 302.00 Mn | 0.06% |
| 8 | Arcbest | 3.10 Bn | 2.93 Bn | 1.14 Bn | -1.74% |
| 9 | Werner Enterprises | 2.31 Bn | 2.26 Bn | - | 1.81% |
| 10 | Covenant Logistics | 885.42 Mn | 882.81 Mn | 320.47 Mn | 2.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.66% |
| Mar 31, 2026 | 2.05% |
| Sep 30, 2025 | 3.12% |
| Jun 30, 2025 | 3.35% |
| Mar 31, 2025 | 2.83% |
| Sep 30, 2024 | 4.23% |
| Jun 30, 2024 | 3.52% |
| 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% |