Knight-Swift Transportation Holdings Inc. (KNX) Balance Sheet
KNX balance sheet, 2025
December 31, 2025 · U.S. dollars$11.96B assets = $4.86B liabilities + $7.09B equity
Both columns are drawn to the same scale: what KNX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KNX financial health
Descriptive bands, not a rating. Fiscal 2025.
KNX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.08B2016 | $11.96B2025 | +30.6%/yr | |
| Total liabilities | $289.8M2016 | $4.86B2025 | +36.8%/yr | |
| Shareholders’ equity | $788.7M2016 | $7.08B2025 | +27.6%/yr | |
| Cash & short-term investments | $8.0M2016 | $302.8M2025 | +49.7%/yr | |
| Total debt | $865.7M2016 | $2.89B2025 | +14.3%/yr | |
| Net cash (debt) | −$857.7M2016 | −$2.59B2025 | −$1.7B | |
| Working capital | $111.5M2016 | −$143.7M2025 | −$255.2M | |
| Book value per share | $9.712016 | $43.482025 | +18.1%/yr | |
| Current ratio | 2.422016 | 0.862025 | −1.56 | |
| Debt / equity | 1.102016 | 0.412025 | −0.69 | |
| Shares outstanding | 81.2M2016 | 162.9M2025 | +8.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KNX assets
KNX liabilities and equity
KNX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KNX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $302.8M | $365.9M | $466.4M | $389.7M | $354.1M | $205.0M | $210.0M | $146.8M | $172.5M | $8.0M |
| Cash & equivalents | $302.8M | $365.9M | $465.8M | $382.6M | $348.2M | $196.0M | $201.1M | $129.4M | $150.3M | $8.0M |
| Short-term investments | — | −$147.7M | $530,000 | $7.2M | $5.9M | $9.0M | $8.9M | $17.4M | $22.2M | $22.7M |
| Receivables | $360.9M | $848.2M | $966.7M | $925.2M | $937.0M | $598.8M | $552.4M | $628.3M | $634.1M | $151.1M |
| Inventory | $0 | $0 | $297.8M | $341.6M | $191.8M | $149.7M | $154.2M | $171.3M | $179.6M | $16.6M |
| Other current assets | $223.9M | $234.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14.4M |
| Total current assets | $887.5M | $1.45B | $1.71B | $1.49B | $1.41B | $923.4M | $890.0M | $907.2M | $923.2M | $190.2M |
| Property, plant & equipment (net) | $5.03B | $5.08B | $5.10B | $4.03B | $3.70B | $3.11B | $3.02B | $2.61B | $2.38B | $802.9M |
| Goodwill & intangible assets | $5.87B | $6.02B | $5.91B | $5.30B | $5.35B | $4.31B | $4.30B | $4.34B | $4.33B | $49.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $30.9M | $20.6M | $11.1M | $27.7M |
| Other non-current assets | $165.2M | $530.5M | $541.9M | $320.5M | $351.7M | $279.3M | $177.8M | $31.1M | $36.2M | $8.2M |
| Total assets | $11.96B | $13.07B | $13.26B | $11.14B | $10.82B | $8.62B | $8.42B | $7.91B | $7.68B | $1.08B |
| Liabilities | ||||||||||
| Accounts payable | $200.8M | $329.7M | $355.2M | $220.8M | $224.8M | $101.0M | $99.2M | $117.9M | $119.9M | $18.0M |
| Short-term debt | $321.9M | $409.1M | $604.7M | $108.4M | $297.7M | $314.0M | $457.8M | $58.7M | $49.0M | $80.9M |
| Deferred revenue | — | — | — | — | — | $424.7M | — | — | — | −$80.9M |
| Total current liabilities | $1.03B | $1.71B | $1.83B | $894.0M | $1.07B | $839.7M | $993.0M | $614.6M | $609.5M | $78.7M |
| Long-term debt | $2.16B | $2.13B | $2.22B | $1.83B | $1.83B | $508.9M | $279.0M | $630.8M | $616.9M | $784.8M |
| Lease obligations | $1.03B | $1.14B | $1.38B | $602.8M | $661.5M | $308.2M | $611.3M | $71.2M | $127.1M | $161.5M |
| Other long-term liabilities | $1.68B | $2.12B | $2.11B | $1.46B | $1.36B | $1.40B | $1.48B | $1.20B | $1.22B | $0 |
| Total liabilities | $4.86B | $5.96B | $6.16B | $4.18B | $4.27B | $2.75B | $2.75B | $2.45B | $2.44B | $289.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.6M | $1.6M | $1.6M | $1.6M | $1.7M | $1.7M | $1.7M | $1.7M | $4.22B | $701.9M |
| Retained earnings (deficit) | $2.60B | $2.66B | $2.66B | $2.55B | $2.18B | $1.57B | $1.40B | $1.22B | $1.02B | $562.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$716,000 | −$442,000 | −$830,000 | −$2.4M | −$563,000 | — | $0 | −$693.1M | −$462.9M | −$349.0M |
| Minority interest | $9.4M | $7.8M | $16.7M | $10.3M | $10.3M | $2.2M | $2.1M | $1.8M | $2.6M | $102,000 |
| Total shareholders' equity | $7.08B | $7.11B | $7.09B | $6.95B | $6.53B | $5.87B | $5.67B | $5.46B | $5.24B | $788.7M |
| Key figures | ||||||||||
| Total debt | $2.89B | $2.82B | $2.67B | $1.67B | $1.96B | $1.03B | $890.3M | $689.5M | $665.9M | $865.7M |
| Net cash (debt) | −$2.59B | −$2.45B | −$2.21B | −$1.28B | −$1.60B | −$826.0M | −$680.3M | −$542.7M | −$493.4M | −$857.7M |
| Working capital | −$143.7M | −$258.0M | −$116.3M | $599.6M | $339.5M | $83.7M | −$103.0M | $292.7M | $313.7M | $111.5M |
| Tangible book value | $1.21B | $1.09B | $1.18B | $1.65B | $1.19B | $1.56B | $1.37B | $1.12B | $909.0M | $739.1M |
| Book value per share | $43.48 | $43.84 | $43.80 | $42.55 | $39.11 | $34.42 | $32.92 | $30.68 | $46.89 | $9.71 |
| Shares outstanding | 162.9M | 162.2M | 161.8M | 163.2M | 167.1M | 170.5M | 172.1M | 178.0M | 111.7M | 81.2M |
| Current ratio | 0.86 | 0.85 | 0.94 | 1.67 | 1.32 | 1.10 | 0.90 | 1.48 | 1.51 | 2.42 |
| Quick ratio | 0.64 | 0.71 | 0.79 | 1.47 | 1.20 | 0.96 | 0.77 | 1.26 | 1.32 | 2.02 |
| Debt / equity | 0.41 | 0.40 | 0.38 | 0.24 | 0.30 | 0.18 | 0.16 | 0.13 | 0.13 | 1.10 |
| Equity / assets | 59.2% | 54.4% | 53.4% | 62.4% | 60.4% | 68.1% | 67.3% | 69.0% | 68.2% | 73.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $186.1M | $293.2M | $302.8M | $294.4M | $339.4M | $344.6M | $365.9M | $317.2M | $336.0M | $340.9M | $466.4M | $454.4M |
| Cash & equivalents | $186.1M | $293.2M | $302.8M | $294.4M | $339.4M | $344.6M | $365.9M | $317.2M | $336.0M | $340.9M | $465.8M | $453.4M |
| Short-term investments | — | — | — | — | — | — | −$147.7M | $150.9M | — | — | $530,000 | $1.0M |
| Receivables | $446.8M | $474.3M | $360.9M | $952.6M | $887.4M | $889.9M | $848.2M | $892.5M | $895.2M | $939.5M | $966.7M | $1.04B |
| Inventory | $75.7M | $0 | $0 | $0 | $0 | $0 | $0 | $114.8M | $0 | $0 | $0 | $470.6M |
| Other current assets | $234.3M | $187.4M | $223.9M | $221.3M | $217.2M | $220.3M | $234.6M | $113.1M | $219.0M | $251.7M | $276.0M | $0 |
| Total current assets | $942.9M | $954.9M | $887.5M | $1.47B | $1.44B | $1.45B | $1.45B | $1.44B | $1.45B | $1.53B | $1.71B | $1.76B |
| Property, plant & equipment (net) | $5.06B | $4.98B | $5.03B | $5.05B | $4.94B | $4.99B | $5.08B | $5.17B | $5.05B | $5.02B | $5.10B | $5.01B |
| Goodwill & intangible assets | $5.83B | $5.85B | $5.87B | $5.93B | $5.98B | $6.00B | $6.02B | $6.04B | $5.90B | $5.91B | $5.91B | $5.92B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $165.4M | $163.7M | $165.2M | $165.4M | $159.9M | $159.1M | $530.5M | $173.9M | $171.8M | $163.1M | $541.9M | $147.2M |
| Total assets | $12.00B | $11.95B | $11.96B | $12.62B | $12.52B | $12.61B | $13.07B | $12.82B | $12.57B | $12.63B | $13.26B | $12.84B |
| Liabilities | ||||||||||||
| Accounts payable | $281.7M | $255.9M | $200.8M | $251.6M | $301.9M | $325.6M | $329.7M | $293.2M | $300.6M | $283.8M | $355.2M | $299.0M |
| Short-term debt | $279.1M | $610.2M | $321.9M | $312.7M | $360.6M | $387.1M | $409.1M | $402.3M | $609.3M | $630.7M | $604.7M | $577.4M |
| Deferred revenue | — | — | — | — | — | — | — | −$402.3M | — | — | — | −$577.4M |
| Total current liabilities | $1.08B | $1.36B | $1.03B | $1.11B | $1.63B | $1.65B | $1.71B | $1.43B | $1.65B | $1.64B | $1.83B | $1.73B |
| Long-term debt | $1.70B | $1.36B | $2.16B | $2.70B | $2.11B | $2.13B | $2.13B | $2.65B | $1.75B | $1.85B | $1.82B | $2.24B |
| Lease obligations | $987.9M | $1.30B | $1.03B | $1.00B | $1.01B | $1.09B | $1.14B | $1.18B | $1.37B | $1.35B | $1.38B | $1.29B |
| Other long-term liabilities | $2.24B | $2.16B | $1.68B | $1.70B | $1.66B | $1.70B | $2.12B | $1.67B | $2.10B | $2.06B | $2.51B | $1.74B |
| Total liabilities | $5.01B | $4.88B | $4.86B | $5.50B | $5.39B | $5.48B | $5.96B | $5.76B | $5.50B | $5.56B | $6.16B | $5.71B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $2.57B | $2.56B | $2.60B | $2.64B | $2.66B | $2.66B | $2.66B | $2.62B | $2.61B | $2.62B | $2.66B | $2.69B |
| Accumulated other comprehensive income | −$143,000 | −$376,000 | −$716,000 | −$184,000 | −$88,000 | $21,000 | −$442,000 | $168,000 | −$827,000 | −$868,000 | −$830,000 | −$664,000 |
| Minority interest | $9.5M | $9.6M | $9.4M | $9.3M | $8.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $6.98B | $7.05B | $7.08B | $7.11B | $7.12B | $7.11B | $7.11B | $7.06B | $7.05B | $7.06B | $7.09B | $7.11B |
| Key figures | ||||||||||||
| Total debt | $2.68B | $2.66B | $2.89B | $2.76B | $2.70B | $2.78B | $2.82B | $2.91B | $2.66B | $2.74B | $2.67B | $3.22B |
| Net cash (debt) | −$2.50B | −$2.37B | −$2.59B | −$2.47B | −$2.36B | −$2.43B | −$2.45B | −$2.59B | −$2.33B | −$2.40B | −$2.21B | −$2.76B |
| Working capital | −$132.4M | −$404.3M | −$143.7M | $363.1M | −$181.0M | −$193.8M | −$258.0M | $8.1M | −$199.9M | −$111.1M | −$116.3M | $30.8M |
| Tangible book value | $1.15B | $1.20B | $1.21B | $1.18B | $1.14B | $1.11B | $1.09B | $1.02B | $1.15B | $1.14B | $1.18B | $1.19B |
| Book value per share | $42.76 | $43.24 | $43.48 | $43.72 | $43.83 | $43.80 | $43.78 | $43.51 | $43.51 | $43.53 | $43.92 | $43.94 |
| Shares outstanding | 163.3M | 163.1M | 162.9M | 162.6M | 162.5M | 162.5M | 162.4M | 162.2M | 162.1M | 162.1M | 161.4M | 161.9M |
| Current ratio | 0.88 | 0.70 | 0.86 | 1.33 | 0.89 | 0.88 | 0.85 | 1.01 | 0.88 | 0.93 | 0.94 | 1.02 |
| Quick ratio | 0.59 | 0.56 | 0.64 | 1.13 | 0.75 | 0.75 | 0.71 | 0.85 | 0.75 | 0.78 | 0.79 | 0.87 |
| Debt / equity | 0.38 | 0.38 | 0.41 | 0.39 | 0.38 | 0.39 | 0.40 | 0.41 | 0.38 | 0.39 | 0.38 | 0.45 |
| Equity / assets | 58.2% | 59.0% | 59.2% | 56.4% | 56.9% | 56.4% | 54.4% | 55.0% | 56.1% | 55.9% | 53.4% | 55.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
KNX financial position
At the end of fiscal 2025 (December 31, 2025), Knight-Swift Transportation had total assets of $12.0 billion (down 8.6% from a year earlier), total liabilities of $4.9 billion and shareholders' equity of $7.1 billion. It held $302.8 million in cash and short-term investments against $2.9 billion of debt, net debt of $2.6 billion. Its current ratio was 0.86. In the latest quarter (ended June 30, 2026) total assets were $12.0 billion and equity $7.0 billion.
Related: KNX income statement, KNX cash flow statement, KNX key metrics. See the KNX stock overview for the latest quote and news.
KNX balance sheet FAQ
What are Knight-Swift Transportation's total assets?
Knight-Swift Transportation reported total assets of $12.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $13.1 billion a year earlier.
How much debt does Knight-Swift Transportation have?
Knight-Swift Transportation had $2.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.41.
How much cash does Knight-Swift Transportation have?
Knight-Swift Transportation held $302.8 million in cash and short-term investments at the end of fiscal 2025; with $2.9 billion of debt that is net debt of $2.6 billion.
What is Knight-Swift Transportation's book value?
Knight-Swift Transportation's shareholders' equity (book value) was $7.1 billion at the end of fiscal 2025, or $43.48 per share.
What is Knight-Swift Transportation's current ratio?
Knight-Swift Transportation had current assets of $887.5 million and current liabilities of $1.0 billion, a current ratio of 0.86 (current liabilities exceed current assets).
How much goodwill does Knight-Swift Transportation have?
Knight-Swift Transportation carried $5.9 billion of goodwill and intangible assets, 49.1% of total assets, at the end of fiscal 2025.