Knight-Swift Transportation Holdings Inc. (KNX): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el dinámico mundo del transporte y la logística, Knight-Swift Transportation Holdings Inc. (KNX) se erige como una potencia formidable, navegando estratégicamente el complejo panorama de los servicios de carga con soluciones innovadoras y un modelo comercial integral. Al combinar perfectamente la tecnología de vanguardia, una flota expansiva y enfoques centrados en el cliente, la compañía ha transformado el transporte tradicional en un ecosistema sofisticado y basado en datos que conecta industrias, cadenas de suministro de puentes y ofrece una eficiencia de transporte incomparable en múltiples sectores. Este intrincado lienzo de modelo de negocio revela el plan estratégico detrás del notable éxito de KNX, ofreciendo información sobre cómo una empresa de transporte moderna crea, ofrece y captura valor en un mercado global cada vez más interconectado.

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: asociaciones clave

Alianza estratégica con fabricantes de camiones

Knight-Swift Transportation mantiene asociaciones estratégicas con los principales fabricantes de camiones:

Fabricante	Composición de la flota	Total de camiones
Vendedor	Modelos de estrellas occidentales	4.200 camiones
Volvo	Serie VNL	2.800 camiones

Asociaciones de tecnología logística

Las plataformas de colaboración de tecnología clave incluyen:

• Plataforma Samsara IoT
• Sistema de gestión de logística de software MCLEOD
• Oracle Transportation Management Solutions

Proveedores de servicios de combustible y mantenimiento

Proveedor	Tipo de servicio	Gasto anual
Se detiene el viaje del amor	Red de combustible	$ 142 millones
TravelCenters of America	Servicios de mantenimiento	$ 86 millones

Broker de carga y asociaciones de logística de terceros

La red de logística estratégica incluye:

• Ch Robinson en todo el mundo
• Logística XPO
• Súper flete

Pareja	Volumen anual de flete	Participación de ingresos
Ch Robinson	48,000 cargas/año	$ 92 millones
Logística XPO	36,000 cargas/año	$ 67 millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: actividades clave

Servicios de transporte de camiones de larga distancia y de transporte

Knight-Swift opera una flota de 18,400 tractores y 62,500 remolques a partir del cuarto trimestre de 2023. La compañía genera ingresos anuales de transporte de $ 6.2 mil millones de los servicios de transporte.

Segmento de flota	Número de unidades	Ingresos anuales
Segmento de carga de camiones	16,200 tractores	$ 5.1 mil millones
Segmento dedicado	2,200 tractores	$ 1.1 mil millones

Corretaje de carga y gestión de logística

El segmento de logística de Knight-Swift maneja la corredora de carga de terceros con ingresos anuales de corretaje de $ 1.8 mil millones en 2023.

• Opera 4.500 profesionales de corretaje de carga
• Administra más de 200,000 relaciones de transportista
• Procesa aproximadamente 750,000 cargas anualmente

Mantenimiento de la flota y adquisición de vehículos

Gasto anual de mantenimiento de la flota de $ 425 millones en 2023. Edad promedio de la flota de 2.1 años.

Categoría de mantenimiento	Gasto anual
Mantenimiento preventivo	$ 215 millones
Reparación y reemplazo	$ 210 millones

Integración tecnológica para la optimización y seguimiento de rutas

Invirtió $ 78 millones en infraestructura tecnológica en 2023. Utiliza sistemas avanzados de seguimiento de telemática y GPS.

• Seguimiento en tiempo real para 18,400 tractores
• Tecnología de mantenimiento predictivo
• Algoritmos de optimización de ruta con IA

Desarrollo de la cadena de suministro y soluciones de transporte

Proporciona soluciones de transporte personalizadas con ingresos anuales de consultoría de logística de $ 95 millones.

Tipo de solución	Ingresos anuales	Número de clientes
Consultoría de la cadena de suministro	$ 45 millones	350 clientes
Gestión del transporte	$ 50 millones	425 clientes

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: recursos clave

Extensa flota de camiones y remolques

A partir del cuarto trimestre de 2023, Knight-Swift Transportation Holdings Inc. opera una flota total de 21,225 camiones y 77,100 remolques. El desglose de la flota incluye:

Tipo de vehículo	Cantidad
Camiones	21,225
Remolques	77,100

Tecnología avanzada de gestión de transporte

Knight-Swift invierte significativamente en infraestructura tecnológica, con una inversión tecnológica anual de $ 78.5 millones en 2023.

• Sistema de gestión de transporte de toda la empresa
• Seguimiento de GPS en tiempo real
• Software de mantenimiento predictivo
• Algoritmos de enrutamiento avanzado

Conductores profesionales calificados y personal de logística

Fuerza laboral total a partir de 2023: 28,600 empleados

Categoría de empleado	Número
Conductores profesionales	19,400
Personal logístico	9,200

Red robusta de terminales y centros de servicio

Knight-Swift mantiene una red integral de infraestructura en los Estados Unidos:

• Totales terminales: 177
• Ubicaciones del centro de servicio: 62
• Cobertura geográfica: 48 estados

Fuerte infraestructura financiera y recursos de capital

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Activos totales	$ 6.3 mil millones
Equivalentes de efectivo y efectivo	$ 387.6 millones
Deuda total	$ 2.1 mil millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: propuestas de valor

Soluciones de transporte confiables y eficientes

Knight-Swift Transportation opera una flota de 18,300 camiones y 68,400 remolques a partir del cuarto trimestre de 2023. La compañía generó $ 6.4 mil millones en ingresos totales en 2023, con un enfoque en ofrecer servicios de transporte confiables.

Métrico	Valor
Tamaño total de la flota	18,300 camiones
Recuento de remolques	68,400 remolques
Ingresos anuales (2023)	$ 6.4 mil millones

Cobertura integral de carga a nivel nacional

Knight-Swift ofrece servicios de transporte en 48 estados y Canadá, con una red que abarca aproximadamente 5.200 empleados y múltiples segmentos de servicios.

• Segmento de carga de camiones: 14,600 camiones
• Segmento dedicado: 2.700 camiones
• Segmento intermodal: 1,000 camiones

Servicios de logística flexibles y personalizables

La compañía ofrece múltiples modos de transporte que incluyen:

• Carga de camión seca
• Transporte controlado por temperatura
• Transporte dedicado
• Servicios intermodales

Seguimiento avanzado y visibilidad de envío en tiempo real

Knight-Swift utiliza tecnologías avanzadas que incluyen:

Tecnología	Objetivo
Seguimiento de GPS	Ubicación del vehículo en tiempo real
Dispositivos de registro electrónico	Cumplimiento y seguimiento
Sistemas de gestión de transporte	Optimización de envío

Precios competitivos y opciones de transporte rentables

Knight-Swift mantiene los precios competitivos a través de la eficiencia operativa. En 2023, la compañía logró:

• Relación operativa: 87.7%
• Ingresos netos: $ 1.08 mil millones
• Ingresos netos ajustados: $ 1.09 mil millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: Relaciones con los clientes

Equipos de gestión de cuentas dedicados

Knight-Swift Transportation mantiene 24 equipos dedicados de gestión de cuentas que atienden a los principales clientes empresariales. A partir del cuarto trimestre de 2023, estos equipos manejan las relaciones con 1.287 clientes comerciales de primer nivel en múltiples segmentos de transporte.

Categoría del equipo de cuenta	Número de equipos	Tasa de retención de cliente promedio
Logística empresarial	8	94.3%
Servicios de carga de camiones	12	92.7%
Transporte especializado	4	96.1%

Plataforma digital para servicio al cliente y seguimiento

La plataforma digital de Knight-Swift proporciona seguimiento de envíos y gestión de servicios en tiempo real para el 98.6% de sus contratos de transporte. La plataforma procesó 3,4 millones de solicitudes de servicio digital en 2023.

• Aplicación móvil con 92% de calificación de satisfacción del cliente
• Capacidades de seguimiento digital 24/7
• Sistema de informes automatizado

Relaciones a largo plazo basadas en contratos

A partir de 2024, Knight-Swift mantiene 672 contratos de transporte a largo plazo con una duración promedio de contrato de 3.7 años. Valor total del contrato: $ 2.3 mil millones.

Duración del contrato	Número de contratos	Valor total del contrato
1-2 años	287	$ 892 millones
3-4 años	385	$ 1.4 mil millones

Consultoría de soluciones de transporte personalizadas

Knight-Swift ofrece consultoría de transporte personalizada para 456 clientes en 2023, generando $ 127.6 millones en ingresos de consultoría especializados.

Sistemas de atención al cliente receptivos

La infraestructura de atención al cliente incluye 247 representantes de soporte dedicados con una tasa de resolución de primer contacto del 92.4%. Tiempo de respuesta promedio: 17 minutos en los canales digitales y telefónicos.

• Capacidades de soporte multilingüe
• Protocolos de escalada dedicados
• Integración de tecnología CRM avanzada

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: canales

Equipo de ventas directas

Knight-Swift Transportation mantiene un equipo de ventas directo dedicado con aproximadamente 300 representantes de ventas a partir de 2023. El equipo de ventas genera ingresos anuales de aproximadamente $ 6.8 mil millones en servicios de transporte de camiones.

Métrica del equipo de ventas	2023 datos
Número de representantes de ventas	300
Ingresos anuales de ventas	$ 6.8 mil millones

Plataformas digitales en línea y sitio web

Knight-Swift opera una plataforma digital integral en KnightSwift.com con Seguimiento de carga en tiempo real y capacidades de reserva en línea.

• Sitio web Visitantes mensuales: 425,000
• Porcentaje de reserva en línea: 37% de los envíos totales
• Ingresos de la plataforma digital: $ 2.3 mil millones anuales

Redes de corretaje de carga

Knight-Swift aprovecha múltiples redes de corretaje de carga para expandir la cobertura de servicio.

Métrico de red	2023 datos
Socios de corretaje activos	1,200
Ingresos de la red de corretaje	$ 1.5 mil millones

Ferias y conferencias comerciales de la industria

Knight-Swift participa en aproximadamente 12 principales conferencias de la industria del transporte anualmente.

• Participación anual de la conferencia: 12 eventos
• Generación de leads a partir de conferencias: 850 clientes potenciales
• Desarrollo comercial relacionado con la conferencia: $ 450 millones

Aplicaciones de tecnología móvil

La compañía proporciona aplicaciones móviles para conductores y clientes con capacidades de seguimiento avanzado.

Módulo de aplicación móvil	2023 datos
Descargas de aplicaciones móviles	175,000
Usuarios mensuales activos	87,500
Ingresos de la plataforma móvil	$ 680 millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: segmentos de clientes

Fabricantes y empresas industriales

Knight-Swift Transportation atiende a 1,987 clientes de fabricación e industriales en los Estados Unidos a partir del cuarto trimestre de 2023. Ingresos anuales de flete de este segmento: $ 1.2 mil millones.

Segmento de la industria	Número de clientes	Volumen de flete (toneladas/año)
Fabricación pesada	612	3.4 millones
Fabricación de luz	1,375	2.1 millones

Empresas minoristas y de comercio electrónico

El comercio electrónico y los servicios de carga minorista generaron $ 987 millones en ingresos durante 2023, atendiendo a 2,345 clientes.

• Cadenas minoristas nacionales: 423 clientes
• Negocios minoristas regionales: 1.122 clientes
• Plataformas de comercio electrónico: 800 clientes

Sectores de producción agrícola y de alimentos

Knight-Swift maneja 2,6 millones de toneladas de carga agrícola anualmente, con $ 456 millones en ingresos relacionados.

Subsector agrícola	Clientela	Volumen anual de flete
Productores de granos	567	1.2 millones de toneladas
Procesamiento de alimentos	412	890,000 toneladas

Industrias de piezas automotrices y automotrices

Los servicios de flete del sector automotriz totalizaron $ 678 millones en 2023, atendiendo a 356 clientes.

• Fabricantes automotrices: 87 clientes
• Proveedores de auto piezas: 269 clientes

Empresas pequeñas a a gran escala

Desglose de servicios de carga de nivel empresarial para 2023:

Tamaño de la empresa	Número de clientes	Ingresos totales
Pequeñas empresas	1,876	$ 345 millones
Empresas medianas	987	$ 612 millones
Grandes empresas	456	$ 1.1 mil millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: Estructura de costos

Gastos de adquisición y mantenimiento de la flota

A partir del cuarto trimestre de 2023, Knight-Swift Transportation Holdings Inc. informó los siguientes costos relacionados con la flota:

Categoría de costos	Monto ($)
Costo total de adquisición de flota	$ 2.1 mil millones
Gastos anuales de mantenimiento de la flota	$ 387 millones
Costo promedio por mantenimiento del camión	$ 15,200 por camión anualmente

Salarios del conductor y compensación

Desglose de compensación para los conductores de Knight-Swift:

Componente de compensación	Monto promedio ($)
Salario anual promedio del conductor	$69,500
Gastos totales de compensación del conductor	$ 612 millones en 2023
Beneficios y compensación adicional	$ 98 millones

Costos de combustible y operativo

• Gastos totales de combustible en 2023: $ 1.2 mil millones
• Costo promedio de combustible por milla: $ 0.42
• Relación de eficiencia operativa: 83.4%

Inversiones de tecnología e infraestructura

Categoría de inversión tecnológica	Monto ($)
Gasto de infraestructura de tecnología total	$ 124 millones
Software de gestión de flotas	$ 37.5 millones
Sistemas telemáticos y GPS	$ 22.3 millones

Seguros y gastos relacionados con el cumplimiento

• Costos totales de seguro: $ 215 millones en 2023
• Cumplimiento y gastos reglamentarios: $ 42.6 millones
• Inversiones de gestión de riesgos: $ 18.9 millones

Knight -Swift Transportation Holdings Inc. (KNX) - Modelo de negocio: flujos de ingresos

Servicios de transporte de camiones

Para el año fiscal 2023, Knight-Swift Transportation reportó ingresos operativos totales de $ 7.2 mil millones. Los servicios de transporte de camiones generaron aproximadamente $ 5.4 mil millones en ingresos.

Categoría de servicio	Ingresos (2023)	Porcentaje de ingresos totales
Carga de camión seca	$ 3.8 mil millones	52.8%
Carga de camiones refrigerada	$ 1.2 mil millones	16.7%
Carga de camiones dedicada	$ 400 millones	5.6%

Tarifas de corretaje de logística y carga

Los servicios de logística y corretaje de carga generaron $ 1.1 mil millones en ingresos para 2023.

• Volumen de corretaje de carga: 1.3 millones de cargas administradas
• Ingresos promedio por carga: $ 850
• Ingresos de la plataforma de flete digital: $ 220 millones

Contratos de transporte dedicados

Los contratos de transporte dedicados representaron $ 650 millones en ingresos para 2023.

Tipo de contrato	Número de contratos	Ingresos anuales
Contratos a largo plazo	42	$ 480 millones
Contratos a corto plazo	78	$ 170 millones

Soluciones de transporte intermodal

El transporte intermodal generó $ 380 millones en ingresos para 2023.

• Cargas intermodales totales: 285,000
• Ingresos promedio por carga: $ 1,333
• Cobertura de red intermodal: 22 estados

Ingresos de tecnología y servicios de consultoría

La tecnología y los servicios de consultoría contribuyeron con $ 70 millones en ingresos para 2023.

Categoría de servicio	Ganancia	Ofrendas clave
Software de gestión de transporte	$ 45 millones	Soluciones de gestión de flotas
Servicios de consultoría	$ 25 millones	Optimización logística

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Value Propositions

You're looking at how Knight-Swift Transportation Holdings Inc. delivers value across its massive freight network as of late 2025. The core proposition is offering a single, integrated solution for nearly every shipping need you might have.

Comprehensive, single-source solution across TL, LTL, Intermodal, and Logistics

Knight-Swift Transportation Holdings Inc. provides a full complement of services across its four main segments: Truckload (TL), Less-than-Truckload (LTL), Logistics, and Intermodal. This breadth means you can consolidate your freight spend with one provider for diverse needs. For instance, Q1 2025 saw consolidated total revenue hit $1.8 billion, and by Q3 2025, that figure was $1.9 billion, showing the scale of their operations across these varied services.

The company operates across North America, using a network of terminals in the United States and Mexico.

Unmatched scale and capacity, mitigating supply chain risk for large shippers

The scale of Knight-Swift Transportation Holdings Inc. is definitely a key value driver, offering capacity that fewer competitors can match. They operate roughly 30,000 tractors and over 100,000 trailers across their segments. This massive asset base positions them as the industry's largest full truckload company. Having this much owned capacity helps large shippers manage risk when the market tightens.

Cost-effective freight solutions through a highly utilized, modern fleet

For the core Truckload business, cost-effectiveness is driven by asset utilization and efficiency gains. While the freight environment has seen pressure, the Truckload segment's Adjusted Operating Ratio for Q3 2025 was 96.2%. To put that in perspective, the Q2 2025 TL Adjusted Operating Ratio was 94.6%, which was an improvement of 260 basis points year-over-year, showing a focus on driving down costs per mile. This focus on efficiency helps keep their solutions competitive.

Seamless coast-to-coast LTL service via integrated brands (AAA Cooper, DHE, MME)

Knight-Swift Transportation Holdings Inc. is actively unifying its LTL operations to deliver a truly national service. The subsidiaries Midwest Motor Express (MME) and DHE Transportation are set to be officially folded into the AAA Cooper Transportation (ACT) brand starting Jan. 1, 2026. This integration follows significant expansion; the trio currently operates 179 strategically located facilities across 36 states. They've successfully expanded into over 50 new markets and established around 40,000 new line-haul lanes across the network. The LTL division posted revenue, excluding fuel surcharge, of $337.7 million in Q2 2025.

The LTL value proposition is built on this growing physical footprint:

• Expanded into over 50 new markets.
• Established around 40,000 new line-haul lanes.
• Operates 179 facilities across 36 states.
• Q2 2025 LTL shipments per day increased 21.7% year-over-year.

Cross-border expertise for Mexico and Canada, simplifying international trade

Knight-Swift Transportation Holdings Inc. offers established cross-border capabilities, which is critical given the high volume of North American trade. In March 2025, trucks moved $77.3 billion of freight with Mexico and $67.5 billion with Canada. Trucks carry over 60% of the surface trade along both the Northern and Southern land borders, highlighting the importance of trucking in this corridor. The company's network explicitly serves customers throughout Mexico and Canada.

Here's a snapshot of recent segment performance to show where the value is being generated:

Segment	Q3 2025 Adjusted Operating Ratio	Q3 2025 Revenue Change Y/Y	Key Metric Detail
Truckload	96.2%	Down 2.1% (excl. fuel surcharge)	Revenue per loaded mile was flat year-over-year.
LTL	Not provided	Not provided	Adjusted Operating Income increased 86.4% year-over-year (part of All Other Segments growth).
Logistics	94.3%	Decreased 2.2%	Revenue per load increased 3.6% year-over-year.
Intermodal	99.8% (Adjusted OR)	Revenue per load up 3.5% Y/Y	Load count grew 8.2% sequentially.

Finance: draft 13-week cash view by Friday.

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Customer Relationships

You're looking at how Knight-Swift Transportation Holdings Inc. keeps its customers locked in, which is key when freight volumes are choppy, like they were through mid-2025. The relationships are built on dedicated capacity, digital tools, and specialized handling for complex moves.

Dedicated fleet services providing customized capacity and long-term contracts.

Knight-Swift Transportation Holdings Inc. maintains a significant presence in dedicated services, ranking as the 5th Top Dedicated Contract Carrier in North America for 2025, operating approximately 6,500 Power Units in that specific service line. Under these dedicated arrangements, the company supplies the driving associates, equipment, and maintenance, supplementing a customer's internal transportation department. This structure inherently fosters long-term contracts by embedding Knight-Swift Transportation Holdings Inc.'s assets directly into the customer's supply chain. The company's overall Truckload segment, which houses dedicated services, posted an Adjusted Operating Ratio of 94.6% in the second quarter of 2025, an improvement of 260 basis points year-over-year, showing a focus on efficiency even with committed capacity.

Account management teams focused on complex, multi-modal solution design.

For customers needing more than just point-to-point truckload, the Logistics segment acts as the solution architect. This segment, which relies on brokerage operations and specialized logistics, saw its revenue per load jump 10.6% year-over-year in the second quarter of 2025, even as the load count declined by 11.7%. This suggests account managers successfully negotiated better pricing for the freight they did move, indicating strong value perception for complex needs. The segment finished Q2 2025 with an Adjusted Operating Ratio of 94.8% and a gross margin of 18.9%. The Intermodal unit, another multi-modal component, is working toward stability, though it posted a revenue decline of 13.8% in Q2 2025.

You need to see how the different service lines are performing for customers; here's a quick snapshot from the second quarter of 2025:

Segment	Q2 2025 Operating Income (Millions USD)	Q2 2025 YoY Percent Change in Operating Income	Q2 2025 Adjusted Operating Ratio
Truckload (TL)	$45.4	93.4%	94.6%
Less-Than-Truckload (LTL)	$18.3	Negative 44.5%	93.1%
Logistics	$5.5	16.6%	94.8%
Intermodal	Negative $3.4	Negative 99.7%	104.1%

The LTL segment's operating income decline was attributed to start-up costs from new facilities and DHE integration costs, which management views as temporary drags on margin.

Self-service options via user-friendly customer portals for LTL order entry and tracking.

The growth in the LTL business points directly to successful customer adoption of its services, which are supported by digital tools. For the first half of 2025, the LTL segment saw shipments per day increase 22.9% year-over-year, including the DHE acquisition. In the second quarter of 2025 alone, shipments per day were up 21.7% year-over-year, with revenue per hundredweight (excl. fuel surcharge) increasing 9.9%. This volume growth suggests that the self-service portals for LTL order entry and tracking are functional and being used by a growing base of customers. The LTL segment's revenue, excluding fuel surcharge, grew 28.4% year-over-year in Q2 2025.

High-touch, single point of contact for specialized cross-border logistics.

Knight-Swift Transportation Holdings Inc. explicitly serves customers throughout North America, including cross-border U.S./Mexico/Canada service. This specialized service requires a high-touch approach, often managed through dedicated account teams to navigate customs and specific regional regulations. While specific cross-border revenue isn't broken out, the overall Truckload segment, which handles much of this, showed strong operating income growth of 93.4% in Q2 2025, indicating that the high-value, specialized freight is performing well. The company's ability to maintain an Adjusted Operating Ratio of 94.6% in the TL segment despite market softness shows discipline in managing these complex lanes.

Focus on service enhancement and reliability to drive customer retention.

Reliability is demonstrated by the bottom-line results that matter to investors and, by extension, to long-term customers. For the second quarter of 2025, Adjusted EPS was $0.35, a significant increase from $0.24 in the second quarter of 2024. The company's CEO noted that the workforce demonstrated agility in mitigating pressure on miles and earnings due to volatile trade actions. The overall focus on cost discipline and asset rationalization, such as right-sizing the fleet since the U.S. Xpress acquisition, directly translates to more reliable service promises for customers. The company had approximately 162,302,000 shares of common stock outstanding as of July 23, 2025.

The LTL segment is a prime example of service enhancement, with its average length of haul climbing 13.8% year-over-year in Q2 2025 as the company won new business across its expanding network. That's a concrete win for customer relationships.

Finance: draft 13-week cash view by Friday.

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Channels

You're looking at how Knight-Swift Transportation Holdings Inc. gets its services-from truckload to LTL-into the hands of shippers. It's a multi-pronged approach, blending traditional sales muscle with modern digital tools and a growing physical network. The scale of the operation is massive; they employ a 28,000 Person Workforce and operate the largest full truckload fleet in North America.

The direct sales channel remains critical for securing the big contracts. This is the Direct Sales Force managing large, enterprise-level shipper relationships. While I don't have the exact headcount for the sales team as of late 2025, the results show this channel is working to secure premium freight, as evidenced by the LTL segment's pricing power. For instance, in the third quarter of 2025, the LTL segment saw revenue per hundredweight rise 6.1% and revenue per shipment climb 6.6% year-over-year.

For day-to-day transactions and visibility, technology is key. This includes Digital Customer Portals for online booking, quoting, and real-time tracking. You can use these portals to 'Get a Quote' or 'Track Shipment' across their network. The company is focused on improving its technology offerings to make supply chain processes smoother.

To move freight for third parties, Knight-Swift uses the KNX Loadboard for brokering freight to third-party carriers. Management is actively making improvements to this platform, specifically integrating freight from all their brands to better serve their third-party carrier base.

The physical footprint is heavily invested in the Integrated LTL terminal network (AAA Cooper, DHE, MME) for regional and national coverage. This network is expanding intentionally. Before the Dependable Highway Express (DHE) acquisition, Knight-Swift operated 133 terminals and 5,100 doors. The DHE deal, effective July 30, 2024, increased their LTL terminal and door counts by approximately 10% and brought their network coverage of the US population to about 70%. The expansion continued into 2025, with the company opening seven new locations in the first quarter and three new locations (plus one replacement) in the second quarter. This investment is aimed at building a truly nationwide in-house LTL service.

Finally, the Warehousing and Fulfillment services acting as an integrated 3PL channel are growing fast. This business falls under the 'All Other Segments' category in the reporting, which saw revenue jump 29.9% year-over-year in the third quarter of 2025. Knight-Swift Warehousing and Fulfillment (KSWF) offers e-commerce solutions like inventory management, kitting, transporting, distribution, and returns management, also servicing brick-and-mortar stores with retail fixtures.

Here's a look at how the revenue contributions from the segments most relevant to these channels performed in the middle of 2025:

Segment Channel	Q2 2025 Revenue (in millions)	Q3 2025 Revenue (in millions)	Year-over-Year Q3 Change
Integrated LTL Network (LTL Segment Revenue)	$337.7	$340.5	Increased 21.5% (excluding fuel surcharge)
Logistics (Brokerage/3PL Channel)	$128.3	$140.4	Decreased 2.2%
Warehousing/Fulfillment (Part of All Other Segments)	Data Not Explicitly Separated	Data Not Explicitly Separated	Revenue Increased 29.9%

The overall channel strategy is about integration. For example, the LTL network expansion is meant to 'further support our existing Truckload customers with LTL capacity.' The Logistics segment continues to leverage its power-only capabilities to complement the asset-based business and build a more diversified freight portfolio.

You can see the push for digital integration, but the physical network growth is what underpins the LTL service. If terminal build-out lags, churn risk rises for those regional shippers. Finance: draft 13-week cash view by Friday.

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Customer Segments

Knight-Swift Transportation Holdings Inc. serves a broad base of customers across its four reportable segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The customer base is diversified, reflecting the company's strategy to offer a full spectrum of North American freight solutions.

The Truckload segment, which includes irregular route, dedicated, refrigerated, expedited, flatbed, and cross-border operations, remains the dominant revenue generator. As of the first quarter of 2025, this segment accounted for approximately 63% of total revenue. This scale allows Knight-Swift Transportation Holdings Inc. to cater to very large, consistent shippers.

The LTL segment, bolstered by the acquisition of Dependable Highway Express (DHE), targets shippers needing flexible, smaller-volume freight movement. This segment saw significant growth, with revenue (excluding fuel surcharge) increasing 28.4% year-over-year in the second quarter of 2025, driven by a 21.7% increase in shipments per day.

The Logistics segment serves customers requiring brokerage solutions, often leveraging power-only capabilities to complement asset-based services. In the second quarter of 2025, this segment generated revenue of $128.3 million and maintained a gross margin of 18.9%.

Here is a breakdown of the primary revenue-generating segments as of the second quarter of 2025, which directly reflects the scale of service provided to different customer types:

Segment	Q2 2025 Revenue (Excl. Fuel Surcharge/Intersegment)	Year-over-Year Revenue Change (Q2 2025 vs Q2 2024)	Key Operational Metric
Truckload	$1.07 billion	Decreased 2.7%	Approximately 15,400 irregular route tractors
LTL	$337.7 million	Increased 28.4%	Shipments per day increased 21.7%
Logistics	$128.3 million	Decreased 2.6%	Gross Margin of 18.9%
Intermodal	$84.1 million	Decreased 13.8%	Load count decreased 12.4%

You can map your specific needs to these established service lines:

• Large-scale Retail and E-commerce companies requiring high-volume capacity.
• Food and Beverage producers needing refrigerated and time-sensitive transport.
• Automotive and Manufacturing industries utilizing dedicated and flatbed services.
• Mid-sized shippers needing flexible LTL and Logistics brokerage solutions.
• Cross-border shippers focused on Mexico and Canada trade lanes.

The Truckload segment supports the specialized needs of manufacturing and food/beverage customers through its dedicated fleet of nearly 5,900 dedicated tractors and its refrigerated and flatbed capabilities. The cross-border operations are explicitly included within the Truckload segment structure.

For mid-sized shippers, the LTL segment provides the necessary network, having grown its service centers and shipment volume substantially following the DHE acquisition. The Logistics segment offers a non-asset alternative or supplement, where revenue per load increased by 10.6% in Q2 2025, showing pricing discipline for these customers.

Finance: review Q3 2025 segment revenue projections against these Q2 2025 figures by Monday.

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Knight-Swift Transportation Holdings Inc. moving across the country, and honestly, they are dominated by people and equipment. The cost structure is heavily weighted toward variable and semi-variable operational costs, which means profitability swings with freight demand and market pricing.

Labor costs, including driver wages, are the largest expense at approximately 39.6% of revenue. This is the single biggest lever on the cost side, reflecting the industry's reliance on human capital for asset utilization.

Capital investment remains a major, non-negotiable cost. For fleet replacement and network enhancement in fiscal year 2025, Knight-Swift Transportation Holdings Inc. guided net cash capital expenditures in the range of $525 million - $575 million. This shows a clear commitment to maintaining a modern, efficient asset base, even in a softer freight market.

The business model relies significantly on external capacity, especially within the Logistics and Intermodal segments, which drive purchased transportation costs. Management has explicitly stated they are making early progress in reducing these costs by deploying more of their own staff and equipment, which is a key part of their cost structure optimization strategy.

Other major variable costs include fuel, maintenance, and insurance. While fuel is always a major line item, Q3 2025 results highlighted specific pressures: Adjusted Operating Income was negatively impacted by $12.0 million of higher insurance and claims costs at U.S. Xpress, largely from settling two large 2023 accident claims. This specific event shows how insurance volatility can directly hit the bottom line, even as the company works to integrate better safety practices.

The ongoing LTL network expansion also brings one-time integration costs. For instance, the third quarter of 2025 included a significant $28.8 million trade name impairment charge related to the decision to combine LTL brands under the AAA Cooper trade name. This is the cost of simplifying and scaling that newer part of the business.

Here's a look at some of the key financial metrics and cost drivers as of late 2025, using Q3 2025 revenue as a reference point:

Cost Component Category	Specific Financial Data Point (Latest Available 2025)	Context/Impact
Labor Costs (Driver Wages & Staffing)	Approx. 39.6% of Revenue (as per outline)	Largest single expense category.
Capital Expenditure (Fleet Replacement)	FY 2025 Guidance: $525M - $575M (Net Cash)	Significant investment in owned assets.
Insurance & Claims Costs (One-Time Impact)	Q3 2025: $12.0 million higher U.S. Xpress claims costs	Drove down Q3 Adjusted Operating Income year-over-year.
LTL Integration/Start-up Costs	Q3 2025: $28.8 million trade name impairment	Cost associated with combining LTL brands.
Purchased Transportation	Management actively working on reducing this cost	Focus on replacing third-party capacity with owned assets.
Reference Revenue Base	Q3 2025 Consolidated Revenue: $1.93 billion	Used for context on expense scale.

The company is actively managing these costs through several initiatives:

• Reducing purchase transportation by deploying owned equipment.
• Optimizing pickup and delivery through new technology implementation.
• Refining staffing levels and scheduling across locations.
• Making tangible progress reducing fixed costs on an absolute basis, aiming for durable improvements in areas like equipment G&A and facilities.

The consolidated Adjusted Operating Ratio for Q3 2025 was 93.8%, which was flat year-over-year, showing that cost control efforts are balancing out market pressures and integration headwinds. If onboarding takes 14+ days, churn risk rises.

Knight-Swift Transportation Holdings Inc. (KNX) - Canvas Business Model: Revenue Streams

You're looking at how Knight-Swift Transportation Holdings Inc. actually brings in the money, and it's a story of a dominant legacy business being strategically balanced by high-growth areas. The core of the operation remains the Truckload (TL) services, which historically has been the largest piece of the pie. For context on that scale, the 2024 revenue for the TL segment was reported at $5.03 billion. That's the baseline for the asset-heavy side of the business.

The real momentum, though, is in Less-Than-Truckload (LTL) services; this is definitely the key growth engine right now. For the third quarter of 2025, the LTL segment showed impressive traction, with revenue excluding fuel surcharge (xFSC) climbing 21.5% year-over-year. To put that into hard numbers for Q3 2025, the LTL revenue xFSC hit $340.5 million. Honestly, that kind of growth shows the integration and network expansion efforts are starting to pay off in top-line results, even if margins are still being worked on.

Here's a quick look at how the major segments stacked up in Q3 2025 based on revenue excluding fuel surcharges (xFSC), which gives a clearer view of the underlying freight movement:

Revenue Stream	Q3 2025 Revenue (xFSC)	Year-over-Year Change
Truckload (TL) Core	$1.08 billion	Down 2.1%
Less-Than-Truckload (LTL)	$340.5 million	Up 21.5%
Logistics	$140.4 million	Down 2.2%
Intermodal	$94.1 million	Down 8.4%

Next up, you have the Logistics and Brokerage fees, which come from managing third-party freight. This stream provides diversification away from owning all the assets. In Q3 2025, the revenue for this segment was $140.4 million. While the load count softened by 6.2%, the revenue per load increased by 3.6%, showing discipline on pricing even with a slight top-line dip.

Intermodal services represent another revenue pillar, using rail partnerships for those longer, cross-country hauls where it makes sense. This segment brought in revenue of $94.1 million in the third quarter of 2025. That was down 8.4% year-over-year, but the company has been focused on cost initiatives here, aiming to improve the operating ratio despite the revenue pressure.

Don't forget the smaller, but important, ancillary services. Knight-Swift Transportation Holdings pulls in revenue from things outside of moving the actual freight. These streams include:

• Equipment leasing revenue.
• Repair and maintenance services billed to others.
• Warehousing operations.

While specific revenue figures for these are often bundled, the Q3 2025 results noted that earnings growth in the warehousing and leasing businesses helped offset other costs, indicating these streams are contributing positively to the overall Adjusted Operating Income.