J.B. Hunt (JBHT) FY2025 10-K Annual Report
J.B. Hunt (JBHT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
J.B. Hunt FY2025 10-K Analysis
Business Overview
- • Largest surface transportation/logistics provider in North America; five segments (JBI, DCS, ICS, FMS, JBT) with total 2025 revenue led by JBI at $5.98B
- • Named sole road transportation company on Dow Jones Best-in-Class North America Index (Feb 2025), representing top 20% of 600 largest North American companies by ESG criteria
- • 31,750 total employees at Dec 31, 2025; tractor fleet average age 2.7 years across 18,843 company-owned units
- • JBI operated 124,838 trailing containers and 104,474 chassis; proprietary paired design cited as operational competitive advantage
- • Safe driving bonus program surpassed $42M awarded and 5,300 drivers achieving 1M safe miles since 1996 inception
Management Discussion & Analysis
- • Revenue $12.00B in 2025, down 0.7% from $12.09B; fuel surcharge revenue fell 3.5% to $1.48B
- • Operating margin 7.2% vs 6.9% in 2024; operating ratio improved to 92.8% from 93.1%; net margin 5.0% vs 4.7%
- • Best segment: JBI operating income $450M (up from $430M); worst: FMS operating income $27M, down sharply from $60M on revenue decline to $824M from $910M
- • Operating cash flow $1.68B (vs $1.48B); capex $575M net investing outflows; financing outflows $1.1B driven by higher treasury stock purchases; quarterly dividend raised to $0.45/share
- • 2026 capex committed ~$107.3M net; $700M senior notes mature March 2026, management intends full repayment via cash, revolver, or refinancing
Risk Factors
- • Top 10 customers ~33% of revenue with no long-term contracts in JBI, ICS, and JBT segments — high concentration risk
- • DOT/FMCSA audit exposure; non-compliance could restrict operations, trigger fines, or require costly regulatory overhauls
- • JBI segment majority-dependent on BNSF and Norfolk Southern; labor disruptions or service failures directly threaten intermodal operations
- • California and other states applying stricter employee-classification tests to independent contractors — retroactive reclassification risk
- • AI-powered cyberattacks (ransomware, phishing) flagged as escalating threat to J.B. Hunt 360 platform and freight-matching operations
J.B. Hunt FY2025 Key Financial MetricsXBRL
Revenue
$12.0B
▼ -0.7% YoY
Net Income
$598M
▲ +4.8% YoY
Operating Margin
7.2%
▲ +33bp YoY
Net Margin
5.0%
▲ +26bp YoY
ROE
16.8%
▲ +256bp YoY
Total Assets
$7.9B
▼ -4.6% YoY
EPS (Diluted)
$6.12
▲ +10.1% YoY
Operating Cash Flow
$1.7B
▲ +13.2% YoY
Source: XBRL data from J.B. Hunt FY2025 10-K filing on SEC EDGAR. All figures in USD.
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