MARTEN TRANSPORT LTD

Listed Company

MRTNCIK 0000799167NasdaqLarge AcceleratedTrucking (No Local)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$17.44M

Total Assets

$949.77M

Equity

$767.63M

Shares Out

81.54M

Op. Cash Flow

$93.49M

Business

MARTEN TRANSPORT LTD provides truck-based transportation and distribution services focused on time- and temperature-sensitive and dry freight. It transports and distributes food and other consumer packaged goods using refrigerated trailers, dry vans, refrigerated containers, dedicated fleets, and brokerage arrangements. The company operates through four reporting segments: Truckload, Dedicated, Intermodal and Brokerage, with an additional Mexico door-to-door offering reported within Truckload and Brokerage. It serves customers primarily across the United States and into parts of Mexico and Canada through regional lanes, intermodal rail connections and third-party carrier networks.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenue	884	964	1,131	1,264	974
Salaries, wages and benefits	312	342	379	390	318
Purchased transportation	159	169	199	250	193
Fuel and fuel taxes	130	147	180	219	131
Supplies and maintenance	61	63	67	56	45
Depreciation	105	112	117	111	103
Operating taxes and licenses	10	10	11	11	11
Insurance and claims	56	53	56	51	42
Communications and utilities	9	9	10	9	8
Gain on disposition of revenue equipment	−12	−5	−14	—	—
Other	31	30	35	38	27
Total operating expenses	861	930	1,041	1,121	862
Operating income	23	33	90	143	112
Other	−1	−3	−4	−827,000	−43,000
Income before income taxes	24	36	94	144	112
Income taxes expense	7	9	24	34	26
Net income	17	27	70	110	85
Basic earnings per common share (in dollars per share)	0.21	0.33	0.87	1.35	1.03
Diluted earnings per common share (in dollars per share)	0.21	0.33	0.86	1.35	1.02
Dividends declared per common share (in dollars per share)	0.24	0.24	0.24	0.24	0.66

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	43	17	53	81	57
Escrow deposit	5	0	—	—	—
Trade, less allowances of $400 and $496, respectively	86	90	106	121	99
Other	13	5	10	7	7
Prepaid expenses and other	25	26	28	27	24
Total current assets	172	139	197	236	187
Accumulated depreciation	−352	−370	−370	−347	−274
Net property and equipment	777	829	792	728	682
Other noncurrent assets	2	2	2	2	1
Total assets	950	969	990	966	871
Accounts payable	29	26	37	37	20
Insurance and claims accruals	44	44	47	46	42
Accrued and other current liabilities	20	23	27	41	31
Total current liabilities	92	94	110	124	94
Deferred income taxes	90	107	122	137	125
Noncurrent operating lease liabilities	194,000	282,000	249,000	409,000	291,000
Total liabilities	182	201	233	262	219
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $.01 par value per share; 192,000,000 shares authorized; 81,542,174 shares at December 31, 2025, and 81,463,938 shares at December 31, 2024, issued and outstanding	815,000	815,000	813,000	811,000	830,000
Additional paid-in capital	55	53	50	47	86
Retained earnings	712	714	707	656	565
Total stockholders equity	768	768	757	704	652
Total liabilities and stockholders equity	950	969	990	966	871

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Tires in service amortization	6	7	7	7	6
Deferred income taxes	−17	−15	−15	12	4
Share-based payment arrangement compensation expense	2	2	2	—	—
Receivables	−661,000	20	13	−24	−17
Prepaid expenses and other	−2	−4	−4	−8	−6
Accounts payable	−1	−2	−4	12	−823,000
Insurance and claims accruals	−546,000	−3	1	4	2
Accrued and other current liabilities	−3	−3	−10	6	7
Net cash provided by operating activities	93	135	164	219	171
Other	−52,000	−49,000	−45,000	−38,000	−37,000
Net cash used for investing activities	−43	−152	−173	−135	−124
Dividends on common stock	−20	−20	−20	−20	−55
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	246,000	1	1	2	876,000
Employee taxes paid in exchange for shares withheld	−284,000	−382,000	−926,000	−2	−3
Net cash used for financing activities	−20	−19	−19	−61	−57
Net change in cash and cash equivalents and escrow deposit	31	−36	−27	24	−9
Change in property and equipment not yet paid	2	−8	−2	10	−6
Operating lease assets and liabilities acquired	171,000	253,000	89,000	318,000	0
Income taxes	27	19	37	24	22
Interest	0	0	10,000	65,000	0

Filings

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