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1. Company Snapshot

1.a. Company Description

Schneider National, Inc., together with its subsidiaries, provides surface transportation and logistics solutions in the United States, Canada, and Mexico.The company operates through three segments: Truckload, Intermodal, and Logistics.The Truckload segment offers standard long-haul and regional shipping services primarily through dry van, bulk, temperature-controlled, and flat-bed equipment, as well as cross dock and customized solutions for time-sensitive loads.


The Intermodal segment provides door-to-door container on flat car services, including rail and dray transportation through company-owned containers, chassis, and trucks.The Logistics segment offers freight brokerage, supply chain, and import/export services; value-added services to manage and move its customers' freight; and transloading and warehousing services.It also leases equipment, such as trucks to owner-operators; and provides insurance for the company drivers and owner-operators.


Schneider National, Inc.was founded in 1935 and is headquartered in Green Bay, Wisconsin.

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1.b. Last Insights on SNDR

Schneider National's recent performance was positively driven by its strategic initiatives, including a share repurchase program approved by its board, authorizing the buyback of $150 million in outstanding shares, representing 2.9% of its stock. This move demonstrates the company's commitment to enhancing shareholder value. Additionally, the company's growth is driven by the Cowan acquisition, cost synergies, and stable demand amid ongoing industry capacity rationalization, as noted by a recent upgrade to Buy with a new price target of $33.43.

1.c. Company Highlights

2. Schneider National's 2025 Earnings: A Year of Transition

Schneider National, Inc. reported revenues excluding fuel surcharge of $1.3 billion for the fourth quarter of 2025, a 4% increase year-over-year. However, adjusted income from operations declined by 15% to $38 million, and adjusted diluted earnings per share came in at $0.13, below estimates of $0.21. The company's truckload revenue, excluding fuel surcharge, was $610 million, up 9% year-over-year, while truckload operating income was $23 million, a 16% increase. The company's adjusted earnings per share guidance for 2026 is $0.70 to $1, indicating a potential recovery in the coming year.

Publication Date: Feb -15

📋 Highlights
  • Revenue Growth Driven by Truckload Segment: Truckload revenue (excluding fuel surcharge) rose 9% to $610 million, while intermodal revenue declined 3% to $268 million.
  • Cost Savings and Guidance: The company projects $40 million in cost savings for 2026 and raised adjusted EPS guidance to $0.70–$1.05, reflecting supply-driven market normalization.
  • Debt Reduction and Financial Position: Net debt leverage improved to 0.3x (vs. 0.5x prior quarter), with $202 million in cash and $403 million in debt.
  • Intermodal Operating Income Growth: Intermodal delivered 20% operating income growth in 2025, despite 3% revenue decline, driven by differentiation and efficiency.

Operational Highlights

The company's operational performance was impacted by a truncated peak season and poor weather conditions. However, Schneider National saw momentum as it exited the year, driven by supply attrition in the industry. The company has made strides in lowering its cost to serve and growing its dedicated offerings to nearly 70% of its fleet. As Mark Rourke noted, "We've created differentiation in our intermodal offering and scaled our tech-enabled solutions." The company's intermodal revenues excluding fuel surcharge were $268 million, a 3% decline, while logistics revenue, excluding fuel surcharge, totaled $329 million, up 2%.

Valuation and Outlook

Schneider National's current valuation metrics indicate a mix of growth and profitability expectations. The company's P/E Ratio is 48.59, suggesting a premium for its earnings growth potential. The EV/EBITDA ratio is 8.42, indicating a reasonable valuation relative to its earnings before interest, taxes, depreciation, and amortization. Analysts estimate revenue growth of 6.4% for the next year, which may be achievable given the company's guidance and operational improvements. With a net debt leverage of 0.3 times and a focus on productivity and cost savings, Schneider National is well-positioned for a recovery in 2026.

Growth Initiatives

The company is prioritizing growth initiatives, including the rollout of AgenTik AI and improving asset productivity. In Intermodal, Schneider National aims to grow 20-25% without adding containers, while in Dedicated, it plans to accommodate growth by reallocating resources and improving productivity. The company has identified its lowest-returning assets and is taking actions to improve them, with the goal of having most of these initiatives implemented by the second quarter of 2026.

Market Conditions

The company's management expects supply to continue to exit the market, driven by regulatory enforcement, which could lead to a longer upcycle. As Jim Filter noted, "We expect capacity to continue declining due to enforcement and other factors, which could lead to a longer upcycle, with potential for several years of upside." This, combined with the company's growth initiatives and cost savings, positions Schneider National for a potential recovery in 2026 and beyond.

3. NewsRoom

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Schneider National, Inc. (SNDR) Presents at Citi's Global Industrial Tech & Mobility Conference 2026 Transcript

Feb -18

Source: seekingalpha.com

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Schneider marks major gains in fuel efficiency and zero emission progress

Feb -11

Source: businesswire.com

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Schneider National, Inc. announces participation in upcoming conference

Feb -05

Source: businesswire.com

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Dedicated transportation leader Haroon Syed named a Rock Star of the Supply Chain

Feb -04

Source: businesswire.com

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Schneider National (NYSE:SNDR) Shares Gap Down After Earnings Miss

Jan -31

Source: defenseworld.net

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Schneider Q4 Earnings Miss Estimates, Down Year Over Year

Jan -30

Source: zacks.com

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Schneider National, Inc. (SNDR) Q4 2025 Earnings Call Transcript

Jan -30

Source: seekingalpha.com

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Schneider National (SNDR) Reports Q4 Earnings: What Key Metrics Have to Say

Jan -30

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.63%)

6. Segments

Truckload

Expected Growth: 5%

Schneider National's 5% truckload growth driven by increasing demand for dedicated capacity, expansion of e-commerce and retail business, and strategic investments in digital freight marketplace. Additionally, the company's focus on operational efficiency, cost savings, and driver recruitment/retention initiatives contribute to the growth.

Logistics

Expected Growth: 4%

Schneider National's logistics segment growth is driven by increasing demand for e-commerce fulfillment, strategic partnerships with major retailers, and investments in digital freight marketplace technology. Additionally, the company's focus on intermodal services, dedicated truckload, and brokerage solutions has enabled it to capitalize on the growing need for efficient and flexible supply chain management.

Intermodal

Expected Growth: 7%

Schneider National's Intermodal segment growth is driven by increasing demand for efficient and cost-effective transportation solutions, investments in digitalization and technology, expansion of dedicated intermodal services, and strategic partnerships with major railroads. Additionally, growing e-commerce and retail sales, as well as a shift towards more environmentally friendly transportation modes, contribute to the 7% growth.

Fuel Surcharge

Expected Growth: 3%

Schneider National's 3% fuel surcharge growth is driven by increasing diesel fuel prices, rising transportation demand, and a tight trucking capacity market. Additionally, the company's focus on dedicated and intermodal services, which have higher fuel surcharge revenue, contributes to the growth. Furthermore, Schneider's ability to pass through fuel costs to customers through its fuel surcharge program also supports the growth.

Other

Expected Growth: 2%

Schneider National's 'Other' segment growth is driven by increasing demand for logistics services, expansion of its warehousing and distribution network, and strategic acquisitions. Additionally, the company's investments in digitalization and technology, such as its proprietary transportation management system, have improved operational efficiency and enhanced customer experience, contributing to the segment's growth.

Inter-Segment Eliminations

Expected Growth: 1%

Schneider National's 1% Inter-Segment Eliminations growth is driven by increased truckload volumes, improved pricing, and enhanced operational efficiency. The company's focus on digitalization, investments in technology, and strategic acquisitions have also contributed to this growth. Additionally, the rise in e-commerce and demand for logistics services have fueled the growth of Schneider's intermodal and logistics segments.

7. Detailed Products

Truckload

Schneider National's Truckload service provides dedicated capacity solutions for shippers, offering flexible and customized transportation options for their freight.

Intermodal

Schneider National's Intermodal service combines the efficiency of rail transportation with the flexibility of trucking, offering a cost-effective and environmentally friendly solution for shippers.

Dedicated

Schneider National's Dedicated service provides customized, dedicated transportation solutions for shippers, offering a high level of control and flexibility for their freight.

Brokerage

Schneider National's Brokerage service connects shippers with a network of qualified carriers, providing flexible and cost-effective transportation solutions for their freight.

Warehousing and Distribution

Schneider National's Warehousing and Distribution service provides customized logistics solutions for shippers, including warehousing, inventory management, and order fulfillment.

Port Logistics

Schneider National's Port Logistics service provides customized logistics solutions for shippers, including drayage, warehousing, and distribution, to facilitate the movement of international freight.

Supply Chain Management

Schneider National's Supply Chain Management service provides comprehensive logistics solutions for shippers, including transportation management, warehousing, and distribution, to optimize their supply chain operations.

8. Schneider National, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Schneider National, Inc. operates in a highly competitive industry, but the threat of substitutes is moderate due to the high barriers to entry and the complexity of the logistics industry.

Bargaining Power Of Customers

Schneider National, Inc. has a large customer base, but the bargaining power of customers is high due to the availability of alternative logistics providers and the high demand for transportation services.

Bargaining Power Of Suppliers

Schneider National, Inc. has a diverse supplier base, and the bargaining power of suppliers is low due to the company's large scale of operations and its ability to negotiate favorable prices.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the logistics industry, including the need for significant capital investment and regulatory compliance.

Intensity Of Rivalry

The logistics industry is highly competitive, and the intensity of rivalry is high due to the presence of several large players, including J.B. Hunt Transport Services, Inc. and Landstar System, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 9.27%
Debt Cost 6.03%
Equity Weight 90.73%
Equity Cost 8.25%
WACC 8.04%
Leverage 10.22%

11. Quality Control: Schneider National, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Huntington Ingalls

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Growth: 4.2

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Momentum: 10.0

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A-Score: 4.3/10

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Value: 5.8

Growth: 1.2

Quality: 4.4

Yield: 0.0

Momentum: 0.5

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

27.22$

Current Price

27.23$

Potential

-0.00%

Expected Cash-Flows