Hub Group, Inc. (HUBG) Balance Sheet
HUBG balance sheet, 2024
December 31, 2024 · U.S. dollars$2.87B assets = $1.18B liabilities + $1.69B equity
Both columns are drawn to the same scale: what HUBG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HUBG financial health
Current ratio1.33
Adequate · current assets cover current liabilities 1.33×
Debt / equity0.31
Low leverage · $0.31 of debt for each $1 of equity
Equity / assets57.4%
Equity-funded · of assets funded by shareholders
Cash / debt19.3%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles37.7%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2024.
HUBG balance sheet trends, 2015–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.30B2015 | $2.87B2024 | +9.2%/yr | |
| Total liabilities | $653.3M2015 | $1.18B2024 | +6.8%/yr | |
| Shareholders’ equity | $647.8M2015 | $1.64B2024 | +10.9%/yr | |
| Cash & short-term investments | $207.7M2015 | $98.2M2024 | −8.0%/yr | |
| Total debt | $149.2M2015 | $508.5M2024 | +14.6%/yr | |
| Net cash (debt) | $58.5M2015 | −$410.3M2024 | −$468.8M | |
| Working capital | $265.9M2015 | $188.8M2024 | −$77.1M | |
| Book value per share | $9.012015 | $26.922024 | +12.9%/yr | |
| Current ratio | 1.742015 | 1.332024 | −0.42 | |
| Debt / equity | 0.232015 | 0.312024 | +0.08 | |
| Shares outstanding | 71.9M2015 | 61.1M2024 | −1.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HUBG assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HUBG liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HUBG debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HUBG balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $98.2M | $187.3M | $286.6M | $159.8M | $124.5M | $168.7M | $61.4M | $28.6M | $127.4M | $207.7M |
| Cash & equivalents | $98.2M | $187.3M | $286.6M | $159.8M | $124.5M | $168.7M | $61.4M | $28.6M | $127.4M | $207.7M |
| Short-term investments | — | — | — | — | $23.4M | — | — | $0 | $0 | $0 |
| Receivables | $592.4M | $603.6M | $720.2M | $704.5M | $520.2M | $446.8M | $499.1M | $589.7M | $477.9M | $390.3M |
| Inventory | $0 | $0 | $17.0M | $2.2M | $1.3M | $630,000 | $616,000 | $12.1M | $294,000 | $8.8M |
| Other current assets | $77.7M | $58.4M | $32.9M | $27.8M | $26.8M | $24.1M | $27.5M | $25.7M | $16.7M | $17.8M |
| Total current assets | $768.3M | $849.2M | $1.06B | $894.3M | $672.8M | $640.2M | $588.7M | $656.1M | $622.3M | $624.6M |
| Property, plant & equipment (net) | $974.6M | $1.00B | $887.0M | $726.7M | $718.2M | $704.6M | $681.9M | $562.1M | $438.6M | $374.8M |
| Goodwill & intangible assets | $1.08B | $1.04B | $826.8M | $773.6M | $672.5M | $605.4M | $618.4M | $423.0M | $274.2M | $275.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $22.6M | $19.2M | $24.2M | $20.9M | $0 |
| Other non-current assets | $43.7M | $43.5M | $127.2M | $42.7M | $41.8M | $18.7M | $16.7M | $5.5M | $4.3M | $26.0M |
| Total assets | $2.87B | $2.94B | $2.90B | $2.44B | $2.11B | $1.99B | $1.92B | $1.67B | $1.36B | $1.30B |
| Liabilities | ||||||||||
| Accounts payable | $280.0M | $349.4M | $344.8M | $424.9M | $285.3M | $257.2M | $272.9M | $338.9M | $266.6M | $230.4M |
| Short-term debt | $146.2M | $151.4M | $132.5M | $122.5M | $117.3M | $117.9M | $104.6M | $80.9M | $47.9M | $35.0M |
| Deferred revenue | — | — | — | — | — | — | −$2.2M | $8.2M | — | — |
| Total current liabilities | $579.5M | $658.2M | $691.8M | $687.1M | $529.1M | $507.4M | $526.8M | $528.6M | $417.7M | $358.7M |
| Long-term debt | $164.4M | $245.6M | $240.7M | $177.5M | $176.8M | $186.9M | $233.8M | $222.5M | $126.1M | $114.2M |
| Lease obligations | $244.1M | $224.8M | $109.3M | $47.5M | $48.2M | $42.0M | $4.7M | $7.7M | $10.6M | $13.3M |
| Other long-term liabilities | $432.6M | $397.6M | $365.5M | $232.4M | $241.6M | $222.0M | $183.5M | $150.0M | $188.3M | $180.4M |
| Total liabilities | $1.18B | $1.30B | $1.30B | $1.10B | $947.5M | $916.3M | $944.1M | $901.1M | $732.1M | $653.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $729,000 | $761,000 | $419,000 | $419,000 | $419,000 | $419,000 | $419,000 | $419,000 | $419,000 | $419,000 |
| Retained earnings (deficit) | $2.02B | $1.95B | $1.78B | $1.42B | $1.25B | $1.18B | $1.07B | $870.7M | $735.6M | $660.8M |
| Treasury stock | — | — | −$374.9M | −$258.3M | −$266.1M | −$268.7M | −$248.6M | −$258.6M | −$265.6M | −$172.0M |
| Accumulated other comprehensive income | −$1.5M | −$15.6M | −$15.7M | −$207,000 | −$191,000 | −$186,000 | −$182,000 | −$194,000 | −$273,000 | −$178,000 |
| Minority interest | $47.0M | $0 | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $1.64B | $1.63B | $1.60B | $1.34B | $1.16B | $1.08B | $980.8M | $769.9M | $628.2M | $647.8M |
| Key figures | ||||||||||
| Total debt | $508.5M | $575.5M | $451.7M | $334.9M | $330.5M | $335.2M | $338.4M | $303.4M | $174.0M | $149.2M |
| Net cash (debt) | −$410.3M | −$388.2M | −$165.1M | −$175.1M | −$206.0M | −$166.5M | −$276.9M | −$274.8M | −$46.6M | $58.5M |
| Working capital | $188.8M | $191.0M | $364.9M | $207.2M | $143.7M | $132.9M | $61.9M | $127.5M | $204.6M | $265.9M |
| Tangible book value | $563.3M | $596.3M | $772.8M | $566.7M | $485.4M | $469.9M | $362.5M | $346.9M | $354.0M | $372.1M |
| Book value per share | $26.92 | $25.56 | $23.83 | $19.77 | $17.26 | $16.06 | $14.61 | $11.54 | $9.25 | $9.01 |
| Shares outstanding | 61.1M | 64.0M | 67.1M | 67.8M | 67.1M | 67.0M | 67.1M | 66.7M | 67.9M | 71.9M |
| Current ratio | 1.33 | 1.29 | 1.53 | 1.30 | 1.27 | 1.26 | 1.12 | 1.24 | 1.49 | 1.74 |
| Quick ratio | 1.19 | 1.20 | 1.46 | 1.26 | 1.22 | 1.21 | 1.06 | 1.17 | 1.45 | 1.67 |
| Debt / equity | 0.31 | 0.35 | 0.28 | 0.25 | 0.29 | 0.31 | 0.34 | 0.39 | 0.28 | 0.23 |
| Equity / assets | 57.4% | 55.7% | 55.2% | 55.0% | 55.0% | 54.0% | 51.0% | 46.1% | 46.2% | 49.8% |
| Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $119.7M | $137.0M | $112.7M | $98.2M | $186.1M | $220.2M | $195.4M | $187.3M | $400.7M | $342.4M | $342.6M | $286.6M |
| Cash & equivalents | $119.7M | $137.0M | $112.7M | $98.2M | $186.1M | $220.2M | $195.4M | $187.3M | $400.7M | $342.4M | $342.6M | $286.6M |
| Receivables | $605.8M | $553.4M | $578.9M | $592.4M | $582.0M | $587.5M | $593.9M | $603.6M | $636.4M | $616.8M | $701.1M | $720.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | −$32.7M | $0 | $0 | $19.1M | $15.3M | $9.4M | $17.0M |
| Other current assets | $62.9M | $55.0M | $61.3M | $77.7M | $37.2M | $61.6M | $38.7M | $58.4M | $26.6M | $15.4M | $19.3M | $32.9M |
| Total current assets | $788.3M | $745.4M | $752.8M | $768.3M | $805.4M | $836.7M | $828.0M | $849.2M | $1.08B | $989.9M | $1.07B | $1.06B |
| Property, plant & equipment (net) | $996.5M | $945.9M | $954.7M | $974.6M | $971.1M | $957.8M | $988.5M | $1.00B | $986.7M | $954.6M | $955.2M | $887.0M |
| Goodwill & intangible assets | $1.07B | $1.06B | $1.07B | $1.08B | $1.01B | $1.02B | $1.03B | $1.04B | $806.8M | $813.0M | $819.6M | $826.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $45.8M | $45.4M | $43.0M | $43.7M | $43.9M | $43.9M | $43.4M | $43.5M | $41.8M | $42.5M | $40.8M | $127.2M |
| Total assets | $2.90B | $2.80B | $2.82B | $2.87B | $2.83B | $2.86B | $2.89B | $2.94B | $2.92B | $2.80B | $2.89B | $2.90B |
| Liabilities | ||||||||||||
| Accounts payable | $243.4M | $235.3M | $263.3M | $280.0M | $305.8M | $325.6M | $320.9M | $349.4M | $345.5M | $293.0M | $330.3M | $344.8M |
| Short-term debt | $141.2M | $142.2M | $144.6M | $146.2M | $143.4M | $144.1M | $151.1M | $151.4M | $186.3M | $174.5M | $173.1M | $132.5M |
| Deferred revenue | — | — | — | — | — | −$309.6M | — | — | — | — | — | — |
| Total current liabilities | $535.0M | $525.9M | $555.4M | $579.5M | $617.9M | $635.2M | $648.6M | $658.2M | $656.3M | $593.7M | $637.7M | $691.8M |
| Long-term debt | $160.5M | $134.3M | $152.5M | $164.4M | $187.2M | $209.9M | $230.8M | $245.6M | $243.8M | $238.2M | $236.2M | $240.7M |
| Lease obligations | $243.8M | $230.7M | $233.4M | $244.1M | $237.9M | $205.3M | $223.3M | $224.8M | $208.0M | $180.8M | $185.1M | $109.3M |
| Other long-term liabilities | $449.7M | $413.6M | $417.4M | $432.6M | $401.7M | $372.5M | $389.7M | $397.6M | $388.9M | $357.4M | $355.1M | $365.5M |
| Total liabilities | $1.15B | $1.07B | $1.13B | $1.18B | $1.21B | $1.22B | $1.27B | $1.30B | $1.29B | $1.19B | $1.23B | $1.30B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $729,000 | $729,000 | $729,000 | $729,000 | $729,000 | $729,000 | $729,000 | $761,000 | $419,000 | $419,000 | $419,000 | $419,000 |
| Retained earnings (deficit) | $2.08B | $2.06B | $2.04B | $2.02B | $2.01B | $1.99B | $1.97B | $1.95B | $1.92B | $1.89B | $1.84B | $1.78B |
| Treasury stock | — | — | — | — | — | — | — | — | — | — | −$375.2M | −$374.9M |
| Accumulated other comprehensive income | $4.3M | $2.7M | −$1.6M | −$1.5M | −$232,000 | −$200,000 | −$137,000 | −$15.6M | −$167,000 | −$136,000 | −$180,000 | −$15.7M |
| Minority interest | $53.1M | $51.2M | $47.7M | $47.0M | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.70B | $1.67B | $1.65B | $1.64B | $1.63B | $1.64B | $1.62B | $1.63B | $1.63B | $1.61B | $1.66B | $1.60B |
| Key figures | ||||||||||||
| Total debt | $498.8M | $462.6M | $485.5M | $508.5M | $524.9M | $518.3M | $558.1M | $575.5M | $596.3M | $555.4M | $556.8M | $451.7M |
| Net cash (debt) | −$379.1M | −$325.6M | −$372.8M | −$410.3M | −$338.8M | −$298.1M | −$362.8M | −$388.2M | −$195.6M | −$213.0M | −$214.2M | −$165.1M |
| Working capital | $253.3M | $219.5M | $197.4M | $188.8M | $187.5M | $201.6M | $179.4M | $191.0M | $426.5M | $396.2M | $434.6M | $364.9M |
| Tangible book value | $632.4M | $611.6M | $577.5M | $563.3M | $613.6M | $620.8M | $590.8M | $596.3M | $822.3M | $797.7M | $839.4M | $772.8M |
| Book value per share | $28.22 | $27.77 | $27.28 | $26.92 | $26.68 | $26.86 | $26.31 | $26.13 | $25.86 | $24.94 | $25.26 | $24.37 |
| Shares outstanding | 60.3M | 60.3M | 60.4M | 61.1M | 60.9M | 61.1M | 61.7M | 62.6M | 63.0M | 64.6M | 65.7M | 65.6M |
| Current ratio | 1.47 | 1.42 | 1.36 | 1.33 | 1.30 | 1.32 | 1.28 | 1.29 | 1.65 | 1.67 | 1.68 | 1.53 |
| Quick ratio | 1.36 | 1.31 | 1.25 | 1.19 | 1.24 | 1.27 | 1.22 | 1.20 | 1.58 | 1.62 | 1.64 | 1.46 |
| Debt / equity | 0.29 | 0.28 | 0.29 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.37 | 0.34 | 0.34 | 0.28 |
| Equity / assets | 58.7% | 59.8% | 58.4% | 57.4% | 57.4% | 57.4% | 56.1% | 55.7% | 55.8% | 57.5% | 57.4% | 55.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2025); data from EODHD.
HUBG financial position
At the end of fiscal 2024 (December 31, 2024), Hub had total assets of $2.9 billion (down 2.3% from a year earlier), total liabilities of $1.2 billion and shareholders' equity of $1.6 billion. It held $98.2 million in cash and short-term investments against $508.5 million of debt, net debt of $410.3 million. Its current ratio was 1.33. In the latest quarter (ended September 30, 2025) total assets were $2.9 billion and equity $1.7 billion.
Related: HUBG income statement, HUBG cash flow statement, HUBG key metrics. See the HUBG stock overview for the latest quote and news.
HUBG balance sheet FAQ
What are Hub's total assets?
Hub reported total assets of $2.9 billion at the end of fiscal 2024 (December 31, 2024), compared with $2.9 billion a year earlier.
How much debt does Hub have?
Hub had $508.5 million of total debt at the end of fiscal 2024, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.31.
How much cash does Hub have?
Hub held $98.2 million in cash and short-term investments at the end of fiscal 2024; with $508.5 million of debt that is net debt of $410.3 million.
What is Hub's book value?
Hub's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2024, or $26.92 per share.
What is Hub's current ratio?
Hub had current assets of $768.3 million and current liabilities of $579.5 million, a current ratio of 1.33 (it can cover its short-term obligations).
How much goodwill does Hub have?
Hub carried $1.1 billion of goodwill and intangible assets, 37.7% of total assets, at the end of fiscal 2024.