Snapshot

Income statement snapshot

J.B. HUNT TRANSPORT SERVICES, INC.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.

Revenue

-0.3%

$12B

Compound growth, FY2021 to FY2025

Gross profit

FY2025

N/A

Latest annual filing, FY2025

Operating Income

-4.6%

$865.1M

Compound growth, FY2021 to FY2025

Net income

-5.8%

$598.3M

Compound growth, FY2021 to FY2025

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$11,999

Gross profitN/A

Operating Income$865

Net income$598

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. headline income statement
Metric	2025	2024	2023	2022	2021
Revenue	$11,999	$12,087	$12,830	$14,814	$12,168
Gross profit	N/A	N/A	N/A	N/A	N/A
Operating Income	$865	$831	$993	$1,332	$1,046
Net income	$598	$571	$728	$969	$761
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for J.B. HUNT TRANSPORT SERVICES, INC., from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$11,999

Selling, general & administrative$282

Operating Income$865

Interest expenseN/A

Pretax income$794

Income tax expense (benefit)$196

Net income$598

Basic EPS$6.16

Diluted EPS$6.12

Basic average shares97.1M

Diluted average shares97.7M

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. expanded income statement
Line item	2025	2024	2023	2022	2021
Total revenue	$11,999	$12,087	$12,830	$14,814	$12,168
Selling, general & administrative	$282	$306	$275	$215	$196
Operating Income	$865	$831	$993	$1,332	$1,046
Interest expense	N/A	$79	$66	$51	$46
Pretax income	$794	$760	$935	$1,281	$1,000
Income tax expense (benefit)	$196	$189	$207	$312	$239
Net income	$598	$571	$728	$969	$761
Basic EPS	$6.16	$5.60	$7.04	$9.31	$7.22
Diluted EPS	$6.12	$5.56	$6.97	$9.21	$7.14
Basic average shares	97.1M	101.9M	103.4M	104.1M	105.4M
Diluted average shares	97.7M	102.8M	104.5M	105.3M	106.6M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for J.B. HUNT TRANSPORT SERVICES, INC..

Margins

Profitability conversion

How much of J.B. HUNT TRANSPORT SERVICES, INC.'s revenue survives through gross profit, operating income, and net income.

Gross margin

N/A

FY2025, versus FY2021

Operating Margin

-138 bps

7.2%

FY2025, versus FY2021

Net income margin

-127 bps

5.0%

FY2025, versus FY2021

Observation window

years

FY2021 through FY2025

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Operating Margin7.2%

Net income margin5.0%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of J.B. HUNT TRANSPORT SERVICES, INC.'s statement measured against the immediately prior period.

Revenue YoY

FY2024

-0.7%

FY2025 versus FY2024

Gross profit YoY

FY2024

N/A

FY2025 versus FY2024

Op. income YoY

FY2024

+4.1%

FY2025 versus FY2024

Net income YoY

FY2024

+4.8%

FY2025 versus FY2024

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth-0.7%

Gross profit growthN/A

Operating Income Growth+4.1%

Net income growth+4.8%

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. year-on-year change
Metric	2025	2024	2023	2022	2021
Revenue growth	-0.7%	-5.8%	-13.4%	+21.7%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Operating Income Growth	+4.1%	-16.3%	-25.4%	+27.4%	N/A
Net income growth	+4.8%	-21.6%	-24.9%	+27.4%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.

Revenue CAGR

4yr

-0.3%

FY2021 to FY2025

Gross profit CAGR

4yr

N/A

FY2021 to FY2025

Op. income CAGR

4yr

-4.6%

FY2021 to FY2025

Net income CAGR

4yr

-5.8%

FY2021 to FY2025

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Snapshot

Income statement snapshot

J.B. HUNT TRANSPORT SERVICES, INC.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.

Revenue

-0.3%

$12B

Compound growth, FY2021 to FY2025

Gross profit

FY2025

N/A

Latest annual filing, FY2025

Operating Income

-4.6%

$865.1M

Compound growth, FY2021 to FY2025

Net income

-5.8%

$598.3M

Compound growth, FY2021 to FY2025

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$11,999

Gross profitN/A

Operating Income$865

Net income$598

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. headline income statement
Metric	2025	2024	2023	2022	2021
Revenue	$11,999	$12,087	$12,830	$14,814	$12,168
Gross profit	N/A	N/A	N/A	N/A	N/A
Operating Income	$865	$831	$993	$1,332	$1,046
Net income	$598	$571	$728	$969	$761
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for J.B. HUNT TRANSPORT SERVICES, INC., from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$11,999

Selling, general & administrative$282

Operating Income$865

Interest expenseN/A

Pretax income$794

Income tax expense (benefit)$196

Net income$598

Basic EPS$6.16

Diluted EPS$6.12

Basic average shares97.1M

Diluted average shares97.7M

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. expanded income statement
Line item	2025	2024	2023	2022	2021
Total revenue	$11,999	$12,087	$12,830	$14,814	$12,168
Selling, general & administrative	$282	$306	$275	$215	$196
Operating Income	$865	$831	$993	$1,332	$1,046
Interest expense	N/A	$79	$66	$51	$46
Pretax income	$794	$760	$935	$1,281	$1,000
Income tax expense (benefit)	$196	$189	$207	$312	$239
Net income	$598	$571	$728	$969	$761
Basic EPS	$6.16	$5.60	$7.04	$9.31	$7.22
Diluted EPS	$6.12	$5.56	$6.97	$9.21	$7.14
Basic average shares	97.1M	101.9M	103.4M	104.1M	105.4M
Diluted average shares	97.7M	102.8M	104.5M	105.3M	106.6M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for J.B. HUNT TRANSPORT SERVICES, INC..

Margins

Profitability conversion

How much of J.B. HUNT TRANSPORT SERVICES, INC.'s revenue survives through gross profit, operating income, and net income.

Gross margin

N/A

FY2025, versus FY2021

Operating Margin

-138 bps

7.2%

FY2025, versus FY2021

Net income margin

-127 bps

5.0%

FY2025, versus FY2021

Observation window

years

FY2021 through FY2025

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Operating Margin7.2%

Net income margin5.0%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of J.B. HUNT TRANSPORT SERVICES, INC.'s statement measured against the immediately prior period.

Revenue YoY

FY2024

-0.7%

FY2025 versus FY2024

Gross profit YoY

FY2024

N/A

FY2025 versus FY2024

Op. income YoY

FY2024

+4.1%

FY2025 versus FY2024

Net income YoY

FY2024

+4.8%

FY2025 versus FY2024

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth-0.7%

Gross profit growthN/A

Operating Income Growth+4.1%

Net income growth+4.8%

Filing10-K

J.B. HUNT TRANSPORT SERVICES, INC. year-on-year change
Metric	2025	2024	2023	2022	2021
Revenue growth	-0.7%	-5.8%	-13.4%	+21.7%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Operating Income Growth	+4.1%	-16.3%	-25.4%	+27.4%	N/A
Net income growth	+4.8%	-21.6%	-24.9%	+27.4%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.

Revenue CAGR

4yr

-0.3%

FY2021 to FY2025

Gross profit CAGR

4yr

N/A

FY2021 to FY2025

Op. income CAGR

4yr

-4.6%

FY2021 to FY2025

Net income CAGR

4yr

-5.8%

FY2021 to FY2025

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Commentary

Commentary on J.B. HUNT TRANSPORT SERVICES, INC. performance

A written read of the filing-backed figures above. The statement itself remains the source of truth.

Snapshot May 30, 2026

This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.

Over the five-year period, JB Hunt’s revenue and operating metrics show noticeable fluctuations. In 2022, the company experienced a significant surge in performance, with revenue climbing from approximately 12,168 million USD in 2021 to 14,814 million USD—a growth of about 21.8%. Correspondingly, gross profit and operating income increased by roughly 27%, with operating income rising from 1,045 million USD in 2021 to 1,332 million USD in 2022, and net income growing from 761 million USD to 969 million USD. This strong performance in 2022 may reflect favorable market conditions or operational improvements within the highly competitive transportation and logistics industry, where JB Hunt is a major player known for efficient asset utilization and integrated supply chain solutions. However, the trend reversed after 2022. Revenues declined by roughly 13.3% in 2023 to 12,830 million USD and further fell in 2024 to about 12,087 million USD, with operating income and gross profit following similar downward trajectories. By 2025, while revenues remained relatively flat at 12,000 million USD, there was a slight recovery in gross and operating margins, suggesting some stabilization; yet, net income continued to trail, recovering only marginally to around 598 million USD. Overall, while JB Hunt demonstrated the capacity for strong growth—as evidenced in 2022—the subsequent declines underscore volatility and possibly heightened market competition or cyclical industry challenges. The available data suggests that, despite a rebound in some margins in 2025, sustaining upward trends may require addressing underlying operational or market-driven factors.

This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.

HUNT J B TRANSPORT SERVICES INC

JBHT Income Statement

HUNT J B TRANSPORT SERVICES INC

JBHT Income Statement

Income statement snapshot

Expanded line items

Profitability conversion

Annual momentum

Through-cycle growth

Income statement snapshot

Expanded line items

Profitability conversion

Annual momentum

Through-cycle growth

Commentary on J.B. HUNT TRANSPORT SERVICES, INC. performance

Commentary on J.B. HUNT TRANSPORT SERVICES, INC. performance