Covenant Logistics Group, Inc. (CVLG) - Net Assets
Based on the latest financial reports, Covenant Logistics Group, Inc. (CVLG) has net assets worth $407.60 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.02 Billion) and total liabilities ($609.22 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore Covenant Logistics Group, Inc. balance sheet assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $407.60 Million |
| % of Total Assets | 40.09% |
| Annual Growth Rate | 6.15% |
| 5-Year Change | 15.53% |
| 10-Year Change | 70.89% |
| Growth Volatility | 18.85 |
Covenant Logistics Group, Inc. - Net Assets Trend (1994–2025)
This chart illustrates how Covenant Logistics Group, Inc.'s net assets have evolved over time, based on quarterly financial data. Check Covenant Logistics Group, Inc. tangible equity quality to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Covenant Logistics Group, Inc. (1994–2025)
The table below shows the annual net assets of Covenant Logistics Group, Inc. from 1994 to 2025. For live valuation and market cap data, see how much is Covenant Logistics Group, Inc. worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $404.00 Million | -7.84% |
| 2024-12-31 | $438.34 Million | +8.66% |
| 2023-12-31 | $403.42 Million | +6.97% |
| 2022-12-31 | $377.13 Million | +7.84% |
| 2021-12-31 | $349.70 Million | +20.32% |
| 2020-12-31 | $290.64 Million | -16.99% |
| 2019-12-31 | $350.11 Million | +2.03% |
| 2018-12-31 | $343.14 Million | +16.24% |
| 2017-12-31 | $295.20 Million | +24.87% |
| 2016-12-31 | $236.41 Million | +16.94% |
| 2015-12-31 | $202.16 Million | +19.48% |
| 2014-12-31 | $169.20 Million | +68.60% |
| 2013-12-31 | $100.36 Million | +6.01% |
| 2012-12-31 | $94.67 Million | +8.75% |
| 2011-12-31 | $87.06 Million | -13.55% |
| 2010-12-31 | $100.70 Million | +6.36% |
| 2009-12-31 | $94.67 Million | -20.32% |
| 2008-12-31 | $118.82 Million | -31.03% |
| 2007-12-31 | $172.27 Million | -8.78% |
| 2006-12-31 | $188.84 Million | -0.46% |
| 2005-12-31 | $189.72 Million | -3.05% |
| 2004-12-31 | $195.70 Million | +1.85% |
| 2003-12-31 | $192.14 Million | +9.43% |
| 2002-12-31 | $175.59 Million | +8.45% |
| 2001-12-31 | $161.90 Million | -3.53% |
| 2000-12-31 | $167.82 Million | +2.42% |
| 1999-12-31 | $163.85 Million | +15.78% |
| 1998-12-31 | $141.52 Million | +48.04% |
| 1997-12-31 | $95.60 Million | +16.97% |
| 1996-12-31 | $81.73 Million | +28.71% |
| 1995-12-31 | $63.50 Million | 0.00% |
| 1994-12-31 | $63.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Covenant Logistics Group, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2056.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $278.21 Million | 68.86% |
| Common Stock | $266.00K | 0.07% |
| Other Comprehensive Income | $612.00K | 0.15% |
| Other Components | $124.91 Million | 30.92% |
| Total Equity | $404.00 Million | 100.00% |
Covenant Logistics Group, Inc. Competitors by Market Cap
The table below lists competitors of Covenant Logistics Group, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Lithium Argentina AG
NYSE:LAR
|
$1.02 Billion |
|
Zhejiang Great Shengda Packaging Co Ltd
SHG:603687
|
$1.02 Billion |
|
Xinjiang Guannong Fruit & Antler Group Co Ltd
SHG:600251
|
$1.02 Billion |
|
BKI Investment Company Ltd
AU:BKI
|
$1.02 Billion |
|
Railtel Corporation Of India Limited
NSE:RAILTEL
|
$1.02 Billion |
|
Shenzhen Yanmade Technology Inc
SHG:688312
|
$1.02 Billion |
|
Guanglian Aviation Industry Co Ltd
SHE:300900
|
$1.02 Billion |
|
Thinking Electronic Industrial Co Ltd
TW:2428
|
$1.02 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Covenant Logistics Group, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 438,340,000 to 403,997,000, a change of -34,343,000 (-7.8%).
- Net income of 7,239,000 contributed positively to equity growth.
- Dividend payments of 7,162,000 reduced retained earnings.
- Share repurchases of 36,571,000 reduced equity.
- Other comprehensive income decreased equity by 423,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $7.24 Million | +1.79% |
| Dividends Paid | $7.16 Million | -1.77% |
| Share Repurchases | $36.57 Million | -9.05% |
| Other Comprehensive Income | $-423.00K | -0.1% |
| Other Changes | $2.57 Million | +0.64% |
| Total Change | $- | -7.83% |
Book Value vs Market Value Analysis
This analysis compares Covenant Logistics Group, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.09x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 16.62x to 3.09x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $3.00 | $49.88 | x |
| 1995-12-31 | $2.39 | $49.88 | x |
| 1996-12-31 | $3.06 | $49.88 | x |
| 1997-12-31 | $3.59 | $49.88 | x |
| 1998-12-31 | $4.90 | $49.88 | x |
| 1999-12-31 | $5.45 | $49.88 | x |
| 2000-12-31 | $5.77 | $49.88 | x |
| 2001-12-31 | $11.58 | $49.88 | x |
| 2002-12-31 | $6.05 | $49.88 | x |
| 2003-12-31 | $6.53 | $49.88 | x |
| 2004-12-31 | $6.60 | $49.88 | x |
| 2005-12-31 | $6.65 | $49.88 | x |
| 2006-12-31 | $6.75 | $49.88 | x |
| 2007-12-31 | $6.14 | $49.88 | x |
| 2008-12-31 | $4.23 | $49.88 | x |
| 2009-12-31 | $3.35 | $49.88 | x |
| 2010-12-31 | $3.47 | $49.88 | x |
| 2011-12-31 | $2.96 | $49.88 | x |
| 2012-12-31 | $3.20 | $49.88 | x |
| 2013-12-31 | $3.34 | $49.88 | x |
| 2014-12-31 | $5.45 | $49.88 | x |
| 2015-12-31 | $5.52 | $49.88 | x |
| 2016-12-31 | $6.47 | $49.88 | x |
| 2017-12-31 | $8.03 | $49.88 | x |
| 2018-12-31 | $9.29 | $49.88 | x |
| 2019-12-31 | $9.39 | $49.88 | x |
| 2020-12-31 | $8.37 | $49.88 | x |
| 2021-12-31 | $10.27 | $49.88 | x |
| 2022-12-31 | $12.15 | $49.88 | x |
| 2023-12-31 | $14.58 | $49.88 | x |
| 2024-12-31 | $15.82 | $49.88 | x |
| 2025-12-31 | $16.15 | $49.88 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Covenant Logistics Group, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.79%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.62%
- • Asset Turnover: 1.06x
- • Equity Multiplier: 2.72x
- Recent ROE (1.79%) is below the historical average (4.39%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 11.50% | 5.53% | 1.17x | 1.77x | $950.00K |
| 1995 | 14.65% | 5.16% | 1.60x | 1.77x | $2.95 Million |
| 1996 | 10.98% | 3.80% | 1.26x | 2.29x | $804.97K |
| 1997 | 14.33% | 4.60% | 1.38x | 2.25x | $4.14 Million |
| 1998 | 12.92% | 4.93% | 1.36x | 1.93x | $4.13 Million |
| 1999 | 13.60% | 4.71% | 1.23x | 2.34x | $5.89 Million |
| 2000 | 7.08% | 2.15% | 1.41x | 2.33x | $-4.91 Million |
| 2001 | -4.11% | -1.22% | 1.56x | 2.16x | $-22.85 Million |
| 2002 | 4.71% | 1.47% | 1.56x | 2.06x | $-9.28 Million |
| 2003 | 6.33% | 2.09% | 1.64x | 1.84x | $-7.06 Million |
| 2004 | 1.73% | 0.56% | 1.68x | 1.84x | $-16.19 Million |
| 2005 | 2.73% | 0.81% | 1.73x | 1.96x | $-13.79 Million |
| 2006 | -0.73% | -0.20% | 1.44x | 2.52x | $-20.27 Million |
| 2007 | -9.71% | -2.35% | 1.62x | 2.55x | $-33.95 Million |
| 2008 | -44.93% | -6.90% | 1.97x | 3.31x | $-65.27 Million |
| 2009 | -26.44% | -4.25% | 1.48x | 4.21x | $-34.50 Million |
| 2010 | 3.27% | 0.51% | 1.50x | 4.29x | $-6.78 Million |
| 2011 | -16.39% | -2.19% | 1.48x | 5.05x | $-22.97 Million |
| 2012 | 6.41% | 0.90% | 1.68x | 4.23x | $-3.40 Million |
| 2013 | 5.23% | 0.77% | 1.46x | 4.68x | $-4.79 Million |
| 2014 | 10.52% | 2.48% | 1.30x | 3.27x | $887.60K |
| 2015 | 20.82% | 5.81% | 1.12x | 3.20x | $21.87 Million |
| 2016 | 7.12% | 2.51% | 1.08x | 2.62x | $-6.81 Million |
| 2017 | 18.78% | 7.86% | 1.09x | 2.20x | $25.92 Million |
| 2018 | 12.39% | 4.80% | 1.14x | 2.25x | $8.19 Million |
| 2019 | 2.42% | 0.96% | 1.00x | 2.52x | $-26.53 Million |
| 2020 | -14.70% | -5.09% | 1.24x | 2.33x | $-71.78 Million |
| 2021 | 17.37% | 5.81% | 1.61x | 1.86x | $25.76 Million |
| 2022 | 28.82% | 8.93% | 1.53x | 2.11x | $70.97 Million |
| 2023 | 13.69% | 5.00% | 1.16x | 2.37x | $14.89 Million |
| 2024 | 8.19% | 3.17% | 1.13x | 2.28x | $-7.91 Million |
| 2025 | 1.79% | 0.62% | 1.06x | 2.72x | $-33.16 Million |
Industry Comparison
This section compares Covenant Logistics Group, Inc.'s net assets metrics with peer companies in the Trucking industry.
Industry Context
- Industry: Trucking
- Average net assets among peers: $614,713,207
- Average return on equity (ROE) among peers: 7.29%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Covenant Logistics Group, Inc. (CVLG) | $407.60 Million | 11.50% | 1.49x | $1.02 Billion |
| ArcBest Corp (ARCB) | $233.70 Million | 8.69% | 0.92x | $2.69 Billion |
| BEST Inc (BEST) | $3.92 Billion | -5.59% | 3.98x | $56.09 Million |
| Covenant Logistics Group, Inc. (CVLG) | $295.20 Million | 18.78% | 1.20x | $441.94 Million |
| Elite Express Holding Inc. Class A Common Stock (ETS) | $13.19 Million | -16.57% | 0.04x | $9.21 Million |
| Heartland Express Inc (HTLD) | $40.70 Million | 22.11% | 0.40x | $1.19 Billion |
| Knight Transportation Inc (KNX) | $507.46 Million | 11.64% | 0.33x | $8.44 Billion |
| Marten Transport Ltd (MRTN) | $34.70 Million | 18.44% | 1.79x | $1.08 Billion |
| Old Dominion Freight Line Inc (ODFL) | $345.05 Million | 15.50% | 0.86x | $48.83 Billion |
| PAMT CORP (PAMT) | $147.13 Million | -7.37% | 0.77x | $198.76 Million |
About Covenant Logistics Group, Inc.
Covenant Logistics Group, Inc., together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows. Th… Read more