MRTN
Marten Transport, Ltd.Industrials·Trucking
$17.24
$1.4B market cap
Revenue
$413.6M
Free Cash Flow
$7.2M
Rev Growth
+0.0%
FCF Margin
1.7%
P/FCF
195.2x
EV/FCF
185.6x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment. The Dedicated segment offers customized transportation solutions for individual customers' requirements using temperature-controlled trailers, dry v
2-Year Price History
$16.69-2.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 203.5 | 25.2 | 0.2 | 1.4 | 33.1 | 21.1 | -11.9 | 69.8 | 0.2 | 81.5 | 0.2% | -- | -- |
| Act | 2025-Q4 | 210.1 | 30.2 | -7.5 | 3.7 | 5.6 | -13.9 | -19.5 | 43.3 | 0.4 | 81.5 | -12.0% | -- | -- |
Valuation & Metrics
Market Stats
Price$17.24
Market Cap$1.4B
Enterprise Value$1.3B
P/S Ratio3.4x
P/FCF195.2x
EV/FCF185.6x
FCF Margin (TTM)1.7%
FCF Yield0.5%
Dividend Yield (TTM)1.4%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$413.6M
Net Income$5.1M
Free Cash Flow$7.2M
Revenue Growth (YoY)+0.0%
EBITDA Margin13.4%
Net Margin1.2%
FCF Margin1.7%
CapEx % of Revenue7.6%
SBC % of Revenue0.1%
ROIC-5.9%
WC Change % Rev-0.5%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.9M
Days to Cover2.1
Change (vs Prior)+25.0%
Need at least 2 settlement dates for chart
Employees
Headcount3,776
Revenue / Employee$109,543
Gross Profit / Employee$-7,702
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
33.3%(-1.6% YoY)
207 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
22.9%(-0.7% YoY)
12 filers
Vanguard, iShares, SPDR
Market makers
0.2%(-0.2% YoY)
5 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $128M | $16.55 | +$1.2M | +$11.0M | -0.2% | $5.69T |
| DIMENSIONAL FUND ADVISORS LPPassive | $64.3M | $17.54 | +$496K | −$8.0M | -0.4% | $480.92B |
| NUANCE INVESTMENTS, LLC | $63.2M | $15.15 | −$19.1M | −$5.6M | -1.3% | $717M |
| AMERICAN CENTURY COMPANIES INC | $34.4M | $15.94 | +$3.3M | +$8.7M | +0.7% | $193.48B |
| STATE STREET CORPPassive | $34.1M | $15.88 | +$2.0M | +$2.5M | -0.2% | $2.89T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $32.8M | $13.13 | +$32.8M | +$32.8M | — | $4.04T |
| FMR LLC | $23.2M | $13.54 | +$14.6M | +$16.7M | -0.0% | $1.89T |
| Boston Partners | $22.3M | $12.17 | +$10.2M | +$22.3M | +0.5% | $95.40B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $19.3M | $17.56 | +$454K | +$278K | +2.3% | $1.61T |
| TWO SIGMA INVESTMENTS, LP | $18.8M | $13.19 | +$7.4M | +$15.1M | -0.9% | $117.03B |
| MORGAN STANLEY | $17.0M | $16.03 | −$652K | +$3.5M | -0.3% | $1.65T |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $16.7M | $14.89 | +$551K | +$2.3M | +0.7% | $645.81B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $14.6M | $13.13 | +$14.6M | +$14.6M | — | $1.91T |
| Russell Investments Group, Ltd. | $14.4M | $13.94 | +$2.3M | +$9.4M | +1.5% | $93.03B |
| ROYCE & ASSOCIATES LP | $12.9M | $12.62 | +$9.2M | +$12.9M | -0.9% | $10.09B |
| AMERIPRISE FINANCIAL INC | $12.7M | $15.05 | −$360K | −$3.8M | -0.1% | $430.96B |
| LONDON CO OF VIRGINIA | $11.7M | $18.59 | +$639K | +$173K | +0.6% | $16.23B |
| DEPRINCE RACE & ZOLLO INC | $10.1M | $15.37 | +$977K | +$3.6M | -1.1% | $5.29B |
| JPMORGAN CHASE & CO | $9.9M | $16.25 | +$3.0M | −$1.1M | -0.2% | $1.47T |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $8.9M | $15.12 | +$660K | +$5.6M | +0.1% | $184.72B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-0.14%
avg per quarter
Holders (ex-self)
-0.13%
excl. this stock
Buyers (this Q)
+0.11%
115 buyers · $0.20B in
Sellers (this Q)
-0.66%
68 sellers · $0.03B out
alpha coverage: 93% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-4.2%
how holders react when this stock falls
On quiet Qs
+5.9%
−10% to +10% baseline
On rallies (+10%+)
-9.2%
how they react when this stock rises
Holders' portfolio flow this Q
+0.8%
inflows — adds are organic
Sellers' portfolio flow this Q
-6.9%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-2.3%
Holder mid (any stock)
-4.0%
Holder rally (any stock)
-8.5%
Biggest decreases this quarter
GENEVA CAPITAL MANAGEMENT LLCexited−$21.3MNUANCE INVESTMENTS, LLC−$19.1Mα-1.3HOTCHKIS & WILEY CAPITAL MANAGEMENT LLCexited−$3.3MForest Hill Capital, LLCexited−$1.3MQube Research & Technologies Ltdexited−$1.2MY-Intercept (Hong Kong) Ltdexited−$969KJump Financial, LLCexited−$819KMORGAN STANLEY−$652Kα-0.3GSA CAPITAL PARTNERS LLPexited−$424KMILLENNIUM MANAGEMENT LLCexited−$421K
New buyers this quarter
Top-5 holders · 42.7%
BlackRock, Inc.--
DIMENSIONAL FUND ADVISORS LP--
NUANCE INVESTMENTS, LLC--
AMERICAN CENTURY COMPANIES INC--
STATE STREET CORP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
VICTORY CAPITAL MANAGEMENT INC10KNUANCE INVESTMENTS, LLC4.8MGENEVA CAPITAL MANAGEMENT LLC—AMERIPRISE FINANCIAL INC970KGOLDMAN SACHS GROUP INC620KWILLIAM BLAIR INVESTMENT MANAGEMENT, LLC—LOOMIS SAYLES & CO L P—AMERICAN CENTURY COMPANIES INC2.6MINVESTMENT COUNSELORS OF MARYLAND LLC—FIRST TRUST ADVISORS LP304K
Analyst Coverage
Analyst Coverage
Analyst Ratings
6
7
Buy: 6Hold: 7Consensus: Hold
Corporate
Order Flow (FINRA, ~3w lag)
19.2%retail-0.3pp
23.4%dark+0.7pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Marten Transport, Ltd.: Forensic Analysis Restricted by Sparse Administrative Disclosure
Overall Risk
2/10
Fraud
1/10
Dilution
1/10
Insolvency
1/10
Earnings Overstated
1/10
Hidden Liabilities
1/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10