Marten Transport, Ltd. (MRTN): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do transporte e da logística, a Marten Transport, Ltd. (MRTN) se destaca como uma potência estratégica, revolucionando como os bens críticos se movem pelos Estados Unidos. Esta empresa inovadora de caminhões criou meticulosamente um modelo de negócios que vai além do transporte tradicional, oferecendo serviços especializados de van refrigerada e seca que atendem às complexas demandas de indústrias que variam de alimentos e bebidas a produtos farmacêuticos. Ao integrar perfeitamente a tecnologia avançada, parcerias estratégicas e soluções centradas no cliente, a Marta Transport se posicionou como um vínculo crítico no ecossistema da cadeia de suprimentos, oferecendo confiabilidade, eficiência e suporte logístico incomparável que mantém as empresas da América avançando.

Marten Transport, Ltd. (MRTN) - Modelo de negócios: Parcerias -chave

Aliança estratégica com fabricantes de caminhões

A Marten Transport mantém parcerias estratégicas com os principais fabricantes de caminhões:

Fabricante	Composição da frota	Investimento anual
Freightliner	387 caminhões	US $ 42,3 milhões
Volvo	215 caminhões	US $ 24,7 milhões

Colaboração com corretores de frete e empresas de logística

As principais parcerias de logística incluem:

• CH Robinson em todo o mundo
• XPO Logistics
• Logística de coiote

Parceiro	Volume anual de frete	Contribuição da receita
CH Robinson	42.500 cargas	US $ 87,6 milhões
XPO Logistics	28.300 cargas	US $ 62,4 milhões

Parcerias de provedores de tecnologia

Parcerias de tecnologia avançada para gerenciamento de frotas:

• Plataforma Samsara IoT
• OMNITRACS Gerenciamento de frota
• Transporte Trimble

Provedor de tecnologia	Recursos do sistema	Investimento de tecnologia anual
Samsara	Rastreamento de GPS em tempo real	US $ 1,2 milhão
Omnitracs	Manutenção preditiva	US $ 1,5 milhão

Parcerias de serviço de manutenção e reparo

A rede de manutenção crítica inclui:

• Peterbilt Service Centers
• TravelCenters of America
• Instalações de reparo da Cummins

Provedor de serviços	Locais de manutenção	Gastos com manutenção anual
Peterbilt	42 centros de serviço	US $ 8,7 milhões
TravelCenters of America	38 locais de serviço	US $ 6,3 milhões

Marten Transport, Ltd. (MRTN) - Modelo de negócios: Atividades -chave

Transporte de caminhão de van de longo curso de longo curso

A partir do quarto trimestre de 2023, a Marta Transport opera uma frota de 1.645 tratores e 5.443 reboques especializados em transporte de van refrigerado e seco.

Segmento de transporte	Tamanho da frota	Receita anual (2023)
Caminhões refrigerados	1.152 tratores	US $ 641,3 milhões
Van de van seco	493 tratores	US $ 274,6 milhões

Serviços de logística e transporte em todo o país

A Marta Transport fornece serviços de transporte em 48 estados e no Canadá, com foco em frete sensível à temperatura e crítico.

• Cobertura de serviço: 48 Estados dos EUA e Canadá
• Miles anuais percorridos: aproximadamente 225 milhões de milhas
• Utilização média diária de caminhões: 96,4%

Manutenção de frota e gerenciamento de equipamentos

A empresa mantém um rigoroso programa de manutenção de frota com uma idade média do trator de 3,2 anos.

Métrica de manutenção	Valor
Gastos anuais de manutenção	US $ 37,5 milhões
Idade média do trator	3,2 anos
Custo de manutenção por milha	$0.167

Otimização de rota e planejamento de transporte

A Marten Transport utiliza tecnologia avançada para otimização de rotas e rastreamento em tempo real.

• Rastreamento GPS: 100% da frota
• Software avançado de planejamento de rota
• Monitoramento de eficiência de combustível em tempo real

Gerenciamento e rastreamento de frete de clientes

A empresa fornece serviços abrangentes de gerenciamento de frete, com recursos avançados de rastreamento.

Recurso de rastreamento	Capacidade
Rastreamento de remessa em tempo real	Disponível 24/7
Monitoramento de temperatura	Contínuo para cargas refrigeradas
Plataforma de gerenciamento de frete digital	Portal de clientes integrados

Marten Transport, Ltd. (MRTN) - Modelo de negócios: Recursos -chave

Frota extensa de caminhões de van modernos refrigerados e secos

A partir do quarto trimestre de 2023, a Marten Transport opera uma frota de 1.654 tratores e 5.456 trailers. A composição da frota inclui:

Tipo de caminhão	Quantidade	Percentagem
Caminhões refrigerados	1,124	68%
Caminhões de van seca	530	32%

Pessoal Profissional de Drivers e Logística qualificado

Estatísticas da força de trabalho a partir de 2023:

• Total de funcionários: 2.387
• Drivers profissionais: 1.642
• Pessoal de logística: 745

Tecnologia avançada de gerenciamento de transporte

Investimentos de infraestrutura de tecnologia em 2023:

Categoria de tecnologia	Valor do investimento
Software de gerenciamento de frota	US $ 3,2 milhões
Sistemas de rastreamento GPS	US $ 1,5 milhão
Telemática	US $ 2,1 milhões

Rede robusta de terminais de transporte

Detalhes da rede de terminais:

• Terminais totais: 14
• Locais estratégicos em 12 estados
• Terminal Terminal Real Estate: 287 acres

Capital financeiro para expansão da frota e investimento em tecnologia

Recursos Financeiros a partir de 2023 Relatório Anual:

Métrica financeira	Quantia
Total de ativos	US $ 537,4 milhões
Caixa e equivalentes de dinheiro	US $ 42,6 milhões
Orçamento de despesas de capital	US $ 65,3 milhões

Marten Transport, Ltd. (MRTN) - Modelo de negócios: proposições de valor

Soluções de transporte confiáveis ​​e eficientes

A Marten Transport opera uma frota de 1.573 tratores e 5.679 reboques refrigerados a partir do quarto trimestre 2023. A empresa gera receita anual de US $ 1,02 bilhão com um foco especializado no transporte controlado por temperatura.

Métrica da frota	Contagem total
Tratores	1,573
Reboques refrigerados	5,679
Receita anual	US $ 1,02 bilhão

Serviços de frete refrigerados especializados

A Marten Transport é especializada em transporte controlado por temperatura em vários segmentos de mercado:

• Alimentos e bebidas: 42% do volume total de frete
• Farmacêutico: 28% do volume total de frete
• Bens de consumo: 30% do volume total de frete

Desempenho consistente de entrega no prazo

Métrica de desempenho	Percentagem
Taxa de entrega no tempo	97.6%
Taxa de danos de frete	0.3%

Suporte abrangente de rastreamento e logística

A Marten Transport utiliza tecnologia avançada de rastreamento de GPS com monitoramento em tempo real para 100% de sua frota. A empresa opera em 48 estados e partes do Canadá, cobrindo aproximadamente 2,3 milhões de milhas por semana.

Preços competitivos e qualidade de serviço

Métrica financeira	Valor
Margem operacional	14.2%
Custo por milha	$1.87
Taxa média de frete	US $ 2,45 por milha

Marten Transport, Ltd. (MRTN) - Modelo de negócios: Relacionamentos do cliente

Gerenciamento de conta dedicado

A Marten Transport opera com 1.749 tratores totais e 5.759 reboques em 31 de dezembro de 2022. A empresa atende aproximadamente 3.700 clientes ativos em vários segmentos de transporte.

Segmento de clientes	Número de contas dedicadas	Duração média do contrato
Transporte refrigerado	1.850 contas	3,2 anos
Transporte de carga seca	1.150 contas	2,8 anos
Transporte especializado	700 contas	4,1 anos

24/7 de suporte ao cliente e comunicação

A Marten Transport mantém uma equipe de suporte ao cliente dedicada com tempos de resposta, com média de 12 minutos durante o horário comercial e 25 minutos durante os períodos fora do pico.

• Os canais de suporte ao cliente incluem telefone, e -mail e portal online
• Suporte multilíngue para diversas base de clientes
• Representantes de suporte dedicados para as principais contas

Rastreamento digital e atualizações de remessa em tempo real

A empresa utiliza tecnologia avançada de rastreamento de GPS com precisão de localização em tempo real de 99,7% para remessas.

Recurso de rastreamento	Disponibilidade	Atualizar frequência
Rastreamento de localização do GPS	100% das remessas	A cada 15 minutos
Monitoramento de temperatura	95% das cargas refrigeradas	Monitoramento contínuo
Tempo estimado de chegada	99% de precisão	Atualizações em tempo real

Soluções de transporte personalizadas

O Transporte de Marta gera receita anual de US $ 1,1 bilhão, com soluções de transporte personalizadas representando aproximadamente 42% da receita total.

• Configurações de frota personalizadas
• Transporte especializado com temperatura controlada
• Planejamento logístico personalizado

Relacionamentos baseados em contratos de longo prazo

A partir de 2022, a Marta Transport mantém as relações contratadas com uma duração média de 3,5 anos em sua base de clientes.

Tipo de contrato	Porcentagem de base de clientes	Valor médio do contrato
Contratos de longo prazo (3-5 anos)	68%	US $ 2,4 milhões
Contratos de médio prazo (1-3 anos)	27%	US $ 1,1 milhão
Contratos de curto prazo (<1 ano)	5%	$450,000

Marten Transport, Ltd. (MRTN) - Modelo de negócios: canais

Equipe de vendas diretas

A Marten Transport mantém uma equipe de vendas direta dedicada de 87 profissionais de vendas a partir do quarto trimestre 2023. A equipe se concentra na geração de novos contratos de transporte e logística em vários segmentos do setor.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	87
Valor médio do contrato	$475,000
Geração anual de receita da equipe de vendas	US $ 41,3 milhões

Plataforma de gerenciamento de transporte on -line

A Marten Transport opera uma plataforma digital abrangente com os seguintes recursos:

• Rastreamento de remessa em tempo real
• Reserva de carga digital
• Sistemas de cobrança automatizados
• Acesso ao portal do cliente

Métrica da plataforma	2023 desempenho
Usuários mensais da plataforma	2,647
Porcentagem de reserva digital	62%
Tempo de atividade da plataforma	99.97%

Centros de atendimento ao cliente

A Marten Transport opera 6 centros de atendimento ao cliente localizados estrategicamente nos Estados Unidos, lidando com uma média de 3.215 interações com os clientes diariamente.

Ferramentas de comunicação digital

A empresa utiliza vários canais de comunicação digital:

• Suporte por e -mail
• Bate -papo ao vivo
• Aplicativo móvel
• Plataformas de engajamento de mídia social

Feiras de comércio da indústria e eventos de networking

Em 2023, a Marta Transport participou de 17 feiras do setor e eventos de rede, gerando aproximadamente US $ 12,5 milhões em possíveis oportunidades de contrato.

Participação do evento	2023 Estatísticas
TOTAL DE FERRO COMERCIAL ATIVADO	17
Valor potencial do contrato	US $ 12,5 milhões
Novos leads de negócios gerados	423

Marten Transport, Ltd. (MRTN) - Modelo de negócios: segmentos de clientes

Fabricantes de alimentos e bebidas

A Marten Transport serve vários fabricantes de alimentos e bebidas com serviços de transporte refrigerado especializados. A partir de 2023, a empresa transportou aproximadamente 35% de sua carga total refrigerada para este segmento.

Tipo de cliente	Volume anual de transporte	Valor médio do contrato
Fabricantes de produtos lácteos	8.750 caminhões	US $ 1,2 milhão
Produtores de alimentos congelados	6.500 caminhões	$980,000

Empresas farmacêuticas

O transporte farmacêutico representa um segmento crítico para o transporte de marta, representando 22% do transporte de carga refrigerada em 2023.

• Serviços de transporte controlado por temperatura
• Logística especializada da cadeia de suprimentos médicos
• Conformidade com os regulamentos FDA e GMP

Negócios de varejo e bens de consumo

Os clientes de bens de varejo e consumo contribuíram com 18% da receita de transporte refrigerada da Marta Transport em 2023.

Segmento de varejo	Remessas anuais	Contribuição da receita
Correntes de supermercado	5.600 caminhões	$850,000
Plataformas de varejo on -line	3.200 caminhões	$480,000

Distribuidores de produtos agrícolas

A distribuição de produtos agrícolas representou 15% dos Serviços de Transporte Refrigerado da Marten Transport em 2023.

• Transporte fresco de transporte
• Logística de bens agrícolas perecíveis
• Rede de distribuição nacional

Clientes industriais e de fabricação

Clientes industriais e de manufatura representaram 10% do segmento de transporte refrigerado da Marten Transport em 2023.

Setor de manufatura	Volume anual de transporte	Valor médio do contrato
Fabricantes químicos	2.500 caminhões	$620,000
Materiais Especiais	1.800 caminhões	$450,000

Marten Transport, Ltd. (MRTN) - Modelo de negócios: estrutura de custos

Despesas de combustível

Para o ano fiscal de 2023, a Marta Transport reportou despesas totais de combustível de US $ 146,7 milhões. Os custos de combustível da empresa representaram aproximadamente 28,3% de suas despesas operacionais totais.

Ano fiscal	Despesas totais de combustível	Porcentagem de despesas operacionais
2023	US $ 146,7 milhões	28.3%

Salários e benefícios do motorista

Em 2023, a Marta Transport gastou US $ 207,4 milhões em compensação e benefícios do motorista. O salário médio anual do motorista foi de aproximadamente US $ 68.500.

• Salários e benefícios totais do motorista: US $ 207,4 milhões
• Salário médio anual do motorista: US $ 68.500
• Compensação do motorista como uma porcentagem de receita: 35,6%

Manutenção e reparos de veículos

As despesas de manutenção e reparo de veículos para transporte de marta totalizaram US $ 42,3 milhões em 2023. Isso representa aproximadamente 8,2% dos custos operacionais totais da empresa.

Categoria de despesa	Despesas totais	Porcentagem de custos operacionais
Manutenção e reparos de veículos	US $ 42,3 milhões	8.2%

Investimentos em tecnologia e software

A Marten Transport investiu US $ 18,6 milhões em infraestrutura de tecnologia e software durante 2023. Isso inclui investimentos em sistemas de gerenciamento de frotas, rastreamento de GPS e plataformas de comunicação digital.

• Investimento em tecnologia total: US $ 18,6 milhões
• Principais áreas de tecnologia:
  • Sistemas de gerenciamento de frota
  • Rastreamento GPS
  • Plataformas de comunicação digital

Custos de seguro e conformidade

As despesas de seguros e conformidade para transporte de marta atingiram US $ 35,9 milhões em 2023, representando 6,9% do total de despesas operacionais.

Tipo de despesa	Despesas totais	Porcentagem de custos operacionais
Seguro e conformidade	US $ 35,9 milhões	6.9%

Marten Transport, Ltd. (MRTN) - Modelo de negócios: fluxos de receita

Taxas de transporte de longo curso

Para o ano fiscal de 2023, a Marta Transport registrou receitas operacionais totais de US $ 1.089,8 milhões. As taxas de transporte de longo curso compreendiam uma parcela significativa dessa receita.

Segmento de transporte	Receita (2023)	Porcentagem da receita total
Segmento de caminhão	US $ 926,5 milhões	85%
Segmento dedicado	US $ 163,3 milhões	15%

Serviços de frete refrigerado

A Marten Transport é especializada em transporte refrigerado, com uma frota de 4.000 reboques refrigerados e 2.400 tratores dedicados ao frete sensível à temperatura.

• Taxa média de frete refrigerado por milha: US $ 2,45
• Receita anual de serviço de frete refrigerado: aproximadamente US $ 650 milhões

Contratos de transporte dedicados

Os contratos de transporte dedicados representaram 15% da receita total em 2023, totalizando US $ 163,3 milhões.

Tipo de contrato	Receita anual	Número de contratos
Contratos dedicados a longo prazo	US $ 112,3 milhões	24
Contratos dedicados a curto prazo	US $ 51,0 milhões	12

Encargos de serviço de logística e rastreamento

Os serviços de logística e rastreamento geraram fluxos de receita adicionais para transporte de marta.

• Receita anual de serviço de logística: US $ 35,2 milhões
• Taxa média de serviço de rastreamento por remessa: $ 45

Serviços de transporte adicionais de valor agregado

Os serviços suplementares contribuíram para a diversificação de receita da empresa.

Tipo de serviço	Receita anual
Envio acelerado	US $ 22,5 milhões
Manuseio especializado	US $ 15,7 milhões
Serviços de armazenamento	US $ 8,3 milhões

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Marten Transport, Ltd. over the competition, which boils down to specialization, reliability, and a flexible service structure. Marten Transport, Ltd. is definitely one of the premier suppliers for goods needing a controlled environment.

Specialization in time and temperature-sensitive (Reefer) freight is a huge part of the value. Marten Transport, Ltd. is one of the leading temperature-sensitive truckload carriers in the United States, focusing on food, beverages, and other consumer packaged goods requiring insulation or temperature control. Looking at the 2024 figures, approximately 59% of the Truckload and Dedicated revenue came from hauling temperature-sensitive products, with the remaining 41% from dry freight. This focus means specialized equipment and expertise are built into the service offering.

The business model is multifaceted, offering distinct service platforms to cover different customer needs. As of late 2025, the core structure centers on Truckload, Dedicated, and Brokerage, following the recent sale of the Intermodal assets for $51.8 million in the third quarter of 2025. Here's a quick look at the scale of the main segments based on 2024 revenue:

Service Platform	2024 Revenue (Excl. Fuel Surcharges)	2024 Operating Ratio
Truckload	$377.5 million	99.1%
Dedicated	$267.1 million	91.4%
Brokerage	$146.0 million	92.6%
Intermodal (Pre-Sale)	$49.5 million	107.9%

The Dedicated platform historically delivers strong profitability, contributing one-third of Marten Transport, Ltd.'s 2024 operating revenue but more than two-thirds of the operating income from that year. The company's overall financial stability, being ZERO debt since 2017, is a value proposition in itself, especially when the TTM Revenue as of June 30, 2025, was $920.9M.

You get high service reliability and on-time delivery, which is critical for demanding deadlines. For instance, in 2024, Marten Transport, Ltd. achieved an on-time delivery rate of 99% on specialty chemical truckloads with a major customer, Chemours. More broadly, the on-time service to delivery metric stood at 97.0% for the full year 2024, improving slightly to 97.5% for the first half of 2025 (1H 2025).

The Brokerage segment provides flexible capacity to handle volume surges, supplementing the core fleet capabilities. In 2024, this segment maintained a solid operating ratio of 92.6%. This flexibility is supported by the mix of freight handled:

• Dry vans accounted for 21% of Brokerage freight in 2024.
• The Brokerage platform generated $10.8 million in operating income in 2024.
• The Q3 2025 operating income for the Brokerage segment was $2.7 million.

Finally, Marten Transport, Ltd. offers cross-border service to Mexico and Canada through MRTN de México. This service provides customers with door-to-door temperature-controlled and dry van options between Mexico, the United States, and Canada by using established Mexican partner carriers within Mexico. This extends the reach beyond the primary U.S. operations, which generated $223.2 million in total operating revenue in Q1 2025.

Finance: draft 13-week cash view by Friday.

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Customer Relationships

You're looking at how Marten Transport, Ltd. (MRTN) locks in its business, especially with its high-value customers. The relationship strategy is clearly segmented by service offering, which makes sense given their focus on temperature-sensitive freight.

Dedicated Long-Term Contracts for the Dedicated Segment

The Dedicated segment is where Marten Transport, Ltd. builds its deepest ties. These aren't spot-market deals; they are structured commitments. Agreements with Dedicated segment customers typically range from three to five years and include provisions for annual rate reviews. This structure provides revenue stability, which is key when you are dedicating specific assets and drivers to a single customer's requirements. For context on the segment's recent performance, Dedicated division revenue in the first quarter of 2025 fell to $73.625 million, down from $86.46 million in the year-ago period. Operating income for the Dedicated segment in the second quarter of 2025 was $5.43 million, an 18.4% drop year-over-year. The operating ratio for the Dedicated segment in 2024 was 92.8%, or 91.4% when excluding fuel surcharges.

The value proposition here is customization and reliability, which is reflected in the table below:

Dedicated Segment Value Proposition Element	Metric/Term
Contract Length Range	Three to five years
Rate Review Frequency	Annual
Q1 2025 Revenue	$73.625 million
Q2 2025 Operating Income	$5.43 million
2024 Operating Ratio (Net of Fuel Surcharges)	91.4%

High-Touch, Direct Sales Relationships with Large Shippers

Marten Transport, Ltd. emphasizes a direct approach, especially for the customized solutions in the Dedicated segment. They manage all the details of a customer's transportation budget with custom solutions designed around business needs. This involves a high level of engagement to manage elements like:

• Tractor/Trailer procurement
• Maintenance protocol and cost management
• Customized KPI's (Key Performance Indicators)
• Insurance and risk mitigation
• Costly licensing and operating permits

This level of integration suggests a focus on large shippers needing consistent, specialized service, rather than transactional, one-off loads. The company's overall Trailing Twelve Months (TTM) Revenue as of June 30, 2025, was $920.9M, indicating a substantial base of business that requires this level of relationship management.

Automated Tracking and Communication via Proprietary Systems

The operational side of customer relationships is heavily supported by technology. Marten Transport, Ltd. depends on its management information and communication systems for efficient operations. Their proprietary information systems are used for receiving, planning, and optimizing loads, as well as communicating with and monitoring drivers, tractors, and trailers. This technology enables real-time tracking, improved efficiency, and greater transparency for the customer. The company highlights Load tracking capabilities as a feature available through its logistics arm, Marten Transport Logistics, LLC. This digital backbone supports the high-touch sales relationships by providing the data needed for performance reporting and proactive issue resolution.

Focus on Retaining High-Volume, Core Customers

The entire structure points toward customer retention. By offering customized solutions and securing multi-year contracts, Marten Transport, Ltd. is clearly targeting high-volume, core customers whose supply chains depend on their specialized, temperature-controlled network. The Executive Chairman noted a focus on capitalizing on profitable organic growth opportunities, with fair compensation for their premium services across all segments. This commitment to premium service, backed by a debt-free balance sheet (Total Debt: ZERO as of June 30, 2025) and strong Operating Cash Flow of $122.6M (TTM June 30, 2025), is positioned as the ultimate retention tool-stability in turbulent times. For instance, Q1 2025 Net Income was $4.3 million, or 5 cents per diluted share, showing continued profitability even in a challenging freight market.

The company's financial strength is a relationship asset.

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Channels

You're looking at how Marten Transport, Ltd. (MRTN) gets its services-temperature-sensitive and dry freight-to the customer, which is a mix of direct relationship building and technology use. For a company with trailing twelve-month revenue hitting $920.9M as of June 30, 2025, the channel strategy is clearly focused on high-touch service backed by significant owned assets.

The primary channel for securing high-volume, consistent business involves a direct sales force. This team targets large food and consumer goods shippers, which aligns perfectly with Marten Transport, Ltd.'s specialization in temperature-sensitive freight. This direct approach is key for establishing the dedicated and long-haul contracts that provide revenue stability, especially when the broader freight market faces headwinds, like the recessionary pressures noted earlier in 2025.

Core capacity delivery relies heavily on the company-owned fleet and driver network. This is the physical channel through which the value proposition is executed. As of December 31, 2024, the scale of this operation included:

• 2,915 directly employed drivers.
• A total fleet of 5,440 trailers.
• Independent contractors provided only 2.9% of the fleet at that time, showing a strong preference for company control over capacity.

Here's a quick look at the asset base supporting these channels as of year-end 2024:

Asset Category	Count (As of Dec 31, 2024)	Detail
Total Employees	3,776	Includes drivers, mechanics, and support personnel.
Employed Drivers	2,915	The core capacity providers.
Total Trailers Operated	5,440	The equipment moving the freight.
Refrigerated Trailers	3,138	Essential for the temperature-sensitive core business.
Dry Vans	2,302	Supporting the dry freight segment.

Geographically, the physical reach is managed through 15 regional operating centers. These centers serve as the key hubs for the Truckload segment, supporting both regional short-haul and medium-to-long-haul operations. This structure allows Marten Transport, Ltd. to maintain its regional focus while still achieving national scope and international reach across the US, Canada, and Mexico.

Finally, Marten Transport, Ltd. uses digital interfaces to streamline interactions for both customers and drivers. These systems are critical for efficiency in a high-volume environment. You can see this in their customer-facing options and internal tools:

• Customer access via Load Tracking for visibility on shipments.
• Driver engagement through the Driver Portal for managing assignments and resources.

Honestly, having a dedicated portal for drivers and load tracking for customers shows they are investing in making the transaction smooth, which helps keep that service premium intact. Finance: draft 13-week cash view by Friday.

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Customer Segments

Marten Transport, Ltd. serves customers whose freight demands specialized handling, primarily time and temperature-sensitive goods, alongside standard dry freight needs across North America.

Food and beverage producers requiring temperature control.

• Marten Transport, Ltd. is one of the leading temperature-sensitive truckload carriers in the United States.
• Approximately 59% of Truckload and Dedicated revenue in 2024 resulted from hauling temperature-sensitive products.
• The company specializes in transporting and distributing food, beverages, and other consumer packaged goods that require a temperature-controlled or insulated environment.

Consumer packaged goods (CPG) companies with high-volume needs.

• The remaining portion of the core business handles dry freight.
• Approximately 41% of Truckload and Dedicated revenue in 2024 was from hauling dry freight.
• The company concentrates on expedited movements for high-volume customers.

The scale of Marten Transport, Ltd.'s operations as of late 2025 provides context for the customer base size:

Metric	Value (As of September 30, 2025)	Value (Fiscal Year 2024)
Trailing Twelve Month Operating Revenue	$904 million	$963.7 million
Q3 2025 Operating Revenue	$220.5 million	N/A
Net Income (First Nine Months)	$13.7 million	$26.9 million

Customers needing customized, dedicated fleet solutions.

The Dedicated platform provides customized solutions tailored to individual customer requirements, using refrigerated trailers, dry vans, and specialized equipment within the United States.

• The Dedicated platform contributed one-third of Marten Transport, Ltd.'s 2024 operating revenue.
• The Dedicated platform generated more than two-thirds of Marten Transport, Ltd.'s 2024 operating income.
• Dedicated revenue, excluding fuel surcharges, was $267.1 million for 2024.
• The Dedicated segment reported an operating income of $23.0 million for 2024.
• Marten Transport, Ltd. maintains a ZERO total debt position as of June 30, 2025, offering a stable partnership base for dedicated contracts.

Shippers requiring US, Mexico, and Canada cross-border service.

Marten Transport, Ltd. offers services in the United States, Mexico, and Canada, utilizing its MRTN de México platform for door-to-door temperature-controlled and dry van services within Mexico via partner carriers.

• Marten Transport, Ltd.'s revenue is primarily generated from within the United States.
• The North America cross border road freight transport market size is valued at $247.6 billion in 2025.
• In March 2025, trucks moved $94.2 billion of freight across the US borders with Canada and Mexico.
• Of that March 2025 truck freight, $67.5 billion was with Canada and $77.3 billion was with Mexico.

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Cost Structure

The Cost Structure for Marten Transport, Ltd. is heavily weighted toward variable operating expenses tied directly to miles driven and driver compensation, though fixed costs like depreciation on the fleet remain a significant component. The pressure on profitability in 2025 is evident in the overall efficiency metric.

The company-wide operating ratio (OR) for the first nine months of 2025 was reported at 97.3%, meaning operating expenses consumed 97.3 cents of every revenue dollar earned. When fuel surcharges are excluded from both revenue and expenses, the OR for the first nine months of 2025 stood at 96.9%. This high ratio reflects the cumulative impact of inflationary operating costs and freight rate reductions experienced through the third quarter of 2025.

Driver-related expenses are a primary cost driver. Variable costs generally include fuel expense, driver-related expenses such as wages, benefits, training, and recruitment, and independent contractor costs recorded under purchased transportation. For the first quarter of 2025, Salaries, wages and benefits totaled $78,800 thousand. For the six months ended June 30, 2025, this expense was $157.4 million. This focus on driver compensation is critical, as Marten Transport, Ltd. has been recognized as a 2025 TCA Elite Fleet, suggesting competitive pay structures are in place, with OTR Truck Driver annual earnings estimated between $70,200 and $91,500+.

Fuel expenses are managed through fuel surcharge revenue, but the net cost remains a major factor. For the first nine months of 2025, fuel surcharge revenue decreased to $80.0 million compared to $96.1 million in the prior year period. This reduction in surcharge revenue, alongside other pressures, contributed to the higher operating ratio.

Fixed costs are dominated by the capital-intensive nature of the fleet. The main fixed costs relate to the acquisition and subsequent depreciation of long-term assets, such as revenue equipment. For the first quarter of 2025, Depreciation expense was $27,470 thousand. Expenses that have both fixed and variable components include maintenance and tire expense, which generally vary with miles traveled but also have a controllable component based on safety and fleet age.

Insurance and claims, including auto liability, also fall into the category with both fixed and variable elements, varying with miles driven. For the first quarter of 2025, Insurance and claims expense was $13,377 thousand. Management noted that higher insurance and claims, along with depreciation costs, impacted the 2025 period operating ratio.

Here is a breakdown of key operating expenses for the first quarter ended March 31, 2025, in thousands of USD:

Cost Category	Amount (USD in thousands)	Notes
Salaries, wages and benefits	78,800	Significant component of variable costs
Purchased transportation	37,656	Independent contractor costs
Fuel and fuel taxes	33,117	Variable cost
Depreciation	27,470	Relates to long-term asset ownership
Supplies and maintenance	15,513	Fixed/variable component
Insurance and claims	13,377	Fixed/variable component
Operating taxes and licenses	2,417
Communications and utilities	2,279

The structure of these costs highlights the sensitivity to market conditions, as seen by the pressure on the operating ratio when freight rates decline relative to fixed and semi-fixed costs like driver compensation and equipment ownership.

• Variable costs include:
• Driver-related expenses like wages and benefits.
• Fuel expense.
• Independent contractor costs (purchased transportation).

• Costs with fixed/variable components:
• Maintenance and tire expense.
• Cost of insurance and claims.

• Main fixed costs relate to:
• Acquisition of long-term assets.
• Subsequent depreciation of revenue equipment and terminals.

The company expects its annual cost of tractor and trailer ownership, which includes depreciation, will increase in future periods due to higher prices for new equipment.

Marten Transport, Ltd. (MRTN) - Canvas Business Model: Revenue Streams

You're looking at the core ways Marten Transport, Ltd. brings in cash as of late 2025. It's all about moving freight, but they slice that revenue in a few distinct ways.

The total top-line number for the first nine months of 2025 was $673.5 million in operating revenue. That's the gross amount before we start peeling back the layers of how they earn it.

Here's a quick look at the major components making up that total for the nine-month period ending September 30, 2025:

Revenue Component	Amount (First Nine Months 2025)
Total Operating Revenue	$673.5 million
Fuel Surcharge Revenue	$80.0 million
Operating Revenue, Net of Fuel Surcharges	$593.5 million

The revenue streams from the core service segments show how the $593.5 million (revenue net of fuel surcharges) is generated. While the exact dollar split isn't public in the latest filings, we know the performance trends for the first nine months of 2025 compared to the prior year's nine-month period.

Marten Transport, Ltd. generates revenue across its primary service offerings:

• Revenue from Truckload (Temperature-Sensitive and Dry) services.
• Revenue from Dedicated contract carriage.
• Revenue from Brokerage services.

The performance of these core segments, net of fuel surcharges, for the first nine months of 2025 compared to the first nine months of 2024 showed some shifts:

• Truckload segment revenue, net of fuel surcharges, decreased 4.1%.
• Dedicated segment revenue, net of fuel surcharges, decreased 10.7%.
• Brokerage segment revenue decreased 0.7%.

Also, remember that Marten Transport, Ltd. had an Intermodal segment, though they sold those assets for $51.8 million recently, allowing a stronger focus on the core truckload operations. For the first nine months of 2025, Intermodal segment revenue, net of fuel surcharges, decreased 24.8% from the comparable 2024 period. That sale definitely cleans up the revenue mix going forward. The fuel surcharge revenue itself was $80.0 million for the first nine months of 2025, down from $96.1 million in the first nine months of 2024. That's a big swing component.