HTLD
IndustrialsHeartland Express, Inc. · Trucking · $1B
What is Heartland Express, Inc.?
Heartland Express is a North Liberty, Iowa-based truckload carrier serving shippers across the United States and Canada. Operating under two brand names, the company focuses on short-to-medium haul dry van and temperature-controlled freight.
Heartland Express generates revenue by hauling freight for retailers and manufacturers in consumer goods, appliances, food products, and automotive industries. Its asset-based model relies on company-owned trucks and drivers rather than brokered capacity. Services run coast to coast — from Washington to Florida and New England to California — under the Heartland Express and Millis Transfer brands. Temperature-controlled truckload service extends its reach into time-sensitive and perishable freight lanes.
The company was founded in 1978 and is headquartered in North Liberty, Iowa.
- Nationwide dry van truckload service
- Temperature-controlled truckload freight
- Short-to-medium haul carrier solutions
- Millis Transfer branded regional trucking
- Shipper services for consumer goods and automotive sectors
Is HTLD a Good Stock to Buy?
UQS Score rates HTLD as Poor overall, reflecting broad weakness across most of the five scoring pillars.
The clearest relative bright spot for HTLD is its Valuation pillar, which lands in Good territory — suggesting the market may already be pricing in the company's operational challenges. Risk registers as Neutral, meaning the balance sheet and financial structure are not an acute near-term concern.
Quality, Moat, and Growth all score Weak, pointing to thin competitive differentiation, limited earnings power, and little evidence of meaningful business expansion in the current environment.
Pro members can view the complete pillar breakdown and underlying financial metrics to understand exactly where HTLD stands relative to sector peers. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does HTLD pay dividends?
Yes — Heartland Express, Inc. pays a dividend.
Heartland Express pays a regular dividend, which is relatively uncommon among small-cap trucking carriers. For income-oriented investors, this provides a modest return while holding the stock. Given the company's Weak Quality and Growth scores, investors should weigh whether the dividend is sustainable if freight market conditions remain pressured.
When does HTLD report earnings?
Heartland Express reports earnings on a quarterly cadence, consistent with standard US-listed equity practice.
The trucking sector has faced a prolonged freight downturn, and HTLD's Weak Quality and Growth pillar scores reflect that pressure on revenue and profitability. Results have been challenged by soft demand and elevated operating costs across the industry.
For the most recent quarter's results and guidance commentary, visit Heartland Express's investor relations page directly.
HTLD Price History
-30.7% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Heartland Express, Inc.?
Based on Heartland Express, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
HTLD Long-term Outlook
HTLD's Growth pillar scores Weak, suggesting the near-term fundamental trajectory remains under pressure. A freight market recovery would be a meaningful catalyst, but the company's Weak Moat score indicates limited pricing power to accelerate earnings when volumes do return. The Neutral Risk profile provides some stability, and the Good Valuation score implies the stock may already reflect a pessimistic scenario.
Growth drivers
- Potential freight market recovery lifting truckload volumes
- Millis Transfer brand expanding regional lane density
- Exposure to resilient consumer goods and food product shippers
Key risks
- Prolonged freight recession compressing revenue per mile
- Weak moat limiting ability to raise rates above competitors
- Elevated driver costs and fuel volatility squeezing margins
HTLD vs Peers
Heartland Express competes in the short-to-medium haul truckload segment alongside several regional and national carriers.
Covenant operates a more diversified model that includes expedited and managed freight services alongside traditional truckload, giving it broader revenue streams.
Marten focuses heavily on temperature-controlled freight, carving out a more specialized niche than Heartland's broader dry van and temp-controlled mix.
Universal operates across multiple logistics modes including intermodal and value-added services, offering shippers a wider range of supply chain solutions.
Frequently Asked Questions
What does Heartland Express do?
Heartland Express is a truckload carrier that moves freight for retailers and manufacturers across the United States and Canada. It operates dry van and temperature-controlled services under the Heartland Express and Millis Transfer brands, focusing on short-to-medium haul lanes.
Does HTLD pay dividends?
Yes, Heartland Express pays a regular dividend. This is relatively uncommon for a small-cap trucking company. Investors should monitor the company's earnings trajectory given the current freight market environment before relying on dividend continuity.
When does HTLD report earnings?
Heartland Express follows a standard quarterly earnings cadence. Specific dates are not covered by our data source — check the company's investor relations page for the most current schedule.
Is HTLD a good stock to buy?
UQS Score rates HTLD as Poor overall. The Valuation pillar is Good and Risk is Neutral, but Quality, Moat, and Growth all score Weak. Whether that valuation discount is an opportunity depends on your view of the freight cycle recovery. See the full pillar breakdown on UQS Score Pro.
Is HTLD overvalued?
Based on the UQS Valuation pillar, HTLD scores Good — meaning the stock does not appear overvalued relative to its fundamentals. In fact, the market may already be pricing in significant operational headwinds, which could represent a margin of safety for patient investors.
How does HTLD compare to its competitors?
Relative to peers like Covenant Logistics, Marten Transport, and Universal Logistics, Heartland Express operates a more traditional asset-based dry van model with limited diversification. Its Weak Moat score suggests it has less competitive differentiation than some rivals in the truckload space.
What is HTLD's market cap bracket?
Heartland Express is classified as a small-cap company. This places it in a segment of the market that can offer higher upside potential but also carries greater volatility and liquidity risk compared to large-cap trucking peers.
Who founded Heartland Express?
Heartland Express was founded in 1978. Founding details and leadership history are publicly available through the company's official website and investor relations materials.
Is HTLD a long-term quality investment?
As a long-term quality indicator, HTLD's Poor UQS Score — driven by Weak Quality, Moat, and Growth pillars — raises meaningful questions about durable competitive advantage. The Good Valuation score may attract contrarian interest, but sustained quality improvement would be needed to support a long-term thesis.
What is the main competitive advantage of Heartland Express?
Heartland Express's UQS Moat pillar scores Weak, indicating limited durable competitive advantage. Its scale across short-to-medium haul lanes and the Millis Transfer brand provide some network depth, but the asset-heavy trucking model makes differentiation difficult in a commoditized freight market.
What sector does HTLD belong to?
Heartland Express operates in the Industrials sector, specifically within the trucking and ground transportation industry. This sector is highly sensitive to economic cycles, fuel prices, and freight demand trends.
Is HTLD a growth stock or value stock?
Based on UQS pillar labels, HTLD leans toward value territory — its Valuation pillar scores Good while its Growth pillar scores Weak. This profile is more consistent with a distressed-value or cyclical-recovery play than a traditional growth stock.
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Pro Analysis
HTLD — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 10, 2026 | 21.8 | 0.0 | 8.0 | 22.7 | 36.9 | 64.8 | -0.1 |
| May 8, 2026 | 21.9 | 0.0 | 8.0 | 22.7 | 36.9 | 65.2 | -2.6 |
| May 7, 2026 | 24.5 | 0.0 | 8.0 | 22.7 | 49.0 | 71.0 | 0.0 |
| May 3, 2026 | 24.5 | 0.0 | 8.0 | 22.7 | 49.0 | 70.6 | -0.1 |
| May 2, 2026 | 24.6 | 0.0 | 8.0 | 22.7 | 49.0 | 71.1 | +0.1 |
| Apr 26, 2026 | 24.5 | 0.0 | 8.0 | 22.7 | 49.0 | 70.6 | -0.8 |
| Apr 25, 2026 | 25.3 | 0.0 | 8.0 | 26.0 | 49.0 | 71.8 | +0.4 |
| Apr 23, 2026 | 24.9 | 0.0 | 8.0 | 25.9 | 49.0 | 68.9 | 0.0 |
| Apr 19, 2026 | 24.9 | 0.0 | 8.0 | 25.9 | 49.0 | 69.1 | -0.1 |
| Apr 18, 2026 | 25.0 | 0.0 | 8.0 | 25.9 | 49.0 | 69.6 | +1.0 |
HTLD — Pillar Breakdown
Quality
— 3.3/100 (25%)Heartland Express, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 25.6/100 (20%)Heartland Express, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 53.3/100 (15%)Heartland Express, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 67.6/100 (15%)Heartland Express, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 8/100 (25%)Heartland Express, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for HTLD.
Score Composition
Financial Data
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How is the HTLD UQS Score Calculated?
The UQS (Unified Quality Score) for Heartland Express, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Heartland Express, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Heartland Express, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.