Covenant Logistics GROUP, Inc. (CVLG) intrinsic value & 10-year financials
Covenant Logistics GROUP, Inc. (CVLG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 6.3% a year to $1.2B, with an average return on invested capital of 6.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $30.72
- Market cap
- $826.6M
- Revenue (FY2025)
- $1.2B
- Revenue growth (10-yr CAGR)
- 6.3%
- ROIC (10-yr avg)
- 6.9%
- Free cash flow (FY2025)
- -$33.9M
CVLG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.2B | $7.2M | $0.27 | -$33.9M | 0.3% | 0.4% |
| FY2024 | $1.1B | $35.9M | $1.30 | -$30.1M | 4.0% | 5.5% |
| FY2023 | $1.1B | $55.2M | $2.00 | -$132.8M | 5.3% | 8.3% |
| FY2022 | $1.2B | $108.7M | $3.50 | $58.8M | 9.9% | 21.9% |
| FY2021 | $1.0B | $60.7M | $1.78 | $37.9M | 6.4% | 13.3% |
| FY2020 | $838.6M | -$42.7M | -$1.23 | -$31.0M | -1.7% | -2.8% |
| FY2019 | $894.5M | $8.5M | $0.23 | -$74.2M | 1.8% | 2.1% |
| FY2018 | $885.5M | $42.5M | $1.15 | $49.7M | 6.7% | 8.7% |
| FY2017 | $705.0M | $55.4M | $1.51 | -$27.9M | 4.0% | 6.4% |
| FY2016 | $670.7M | $16.8M | $0.46 | -$10.4M | 4.8% | 4.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
COVENANT LOGISTICS GROUP, INC. has demonstrated mature, steady growth, with revenue compounding at 6.3% annually over the past decade.
COVENANT LOGISTICS GROUP, INC. has historically struggled to out-earn its cost of capital, averaging just 6.9% ROIC.
Over the decade, COVENANT LOGISTICS GROUP, INC. shows that management has aggressively returned capital to shareholders by retiring 26.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, COVENANT LOGISTICS GROUP, INC. is modeled at -5.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.70 per share.