AI Takeaway
C.H. Robinson (CHRW) delivered a strong FY2025 with net income surging 26.1% to $587.1M and operating cash flow nearly doubling to $914.5M, even as total revenue declined 8.4% to $16.2B amid a softer freight market.
Revenue
$16.23B
-8.42% YoY
EPS (Basic)
$4.88
++25.45% YoY
Operating Income
$794.96M
++18.80% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Total revenue fell 8.4% YoY to $16.23B in FY2025 (from $17.72B in the prior year), reflecting continued pressure on freight volumes and pricing in the broader logistics market. Despite lower top-line revenue, the company demonstrated strong operational discipline.
Source: Source: 10-K Income Statement
Operating margin improved by approximately 112 basis points to 4.90% (from 3.78%), and net margin reached 3.62%, as cost controls and efficiency initiatives drove operating income up 18.8% to $795.0M despite the revenue headwind.
Source: Source: 10-K Income Statement & Key Ratios
Operating cash flow surged 79.6% YoY to $914.5M (from $509.1M), reflecting improved working capital management and stronger earnings quality, providing significant financial flexibility.
Source: Source: 10-K Cash Flow Statement
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Upgrade to unlockCHRW's revenue declined 8.4% to $16.23B in FY2025, demonstrating the company's significant exposure to freight market cycles. As a third-party logistics provider, revenue is highly sensitive to shipper demand, carrier capacity, and spot market pricing, all of which can shift rapidly.
Source: Source: 10-K Income Statement
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Upgrade to unlockReported EPS of $1.23 versus the $1.14 analyst consensus — a +7.6% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $16.23B | $17.72B | -8.42% |
Operating Income | $794.96M | $669.14M | +18.80% |
Net Income | $587.08M | $465.69M | +26.07% |
EPS (Basic) | $4.88 | $3.89 | +25.45% |
EPS (Diluted) | $4.83 | $3.86 | +25.13% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $5.06B | $5.3B | -4.52% |
Current Assets | $2.8B | $2.97B | -5.76% |
Total Liabilities | $3.21B | $3.58B | -10.16% |
Current Liabilities | $1.83B | $2.32B | -21.21% |
Stockholders' Equity | $1.85B | $1.72B | +7.18% |
Cash & Equivalents | $160.87M | $145.76M | +10.37% |
Long-Term Debt | $1.09B | $1.38B | -20.92% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $914.52M | $509.08M | +79.64% |
Investing Cash Flow | $-54.67M | $-74.29M | +26.41% |
Financing Cash Flow | $-862.75M | $-416.1M | -107.34% |
Dividends Paid | $301.38M | $294.77M | +2.24% |
Share Buybacks | $354.65M | $0 | — |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 4.9% | 3.8% | +1.12% |
Net Margin | 3.6% | — | — |
ROE | 31.8% | — | — |
ROA | 11.6% | — | — |
Current Ratio | $1.528 | — | — |
Debt to Equity | $1.741 | — | — |
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CHRW delivered mixed but ultimately strong FY2025 results: revenue declined 8.4% to $16.23B due to freight market softness, but net income surged 26.1% to $587.1M and diluted EPS rose 25.1% to $4.83. Operating cash flow nearly doubled to $914.5M, reflecting significant margin expansion and cost discipline.
CHRW's revenue fell 8.4% to $16.23B in FY2025 primarily due to lower freight volumes and softer transportation pricing in the brokerage market. However, the company improved its operating margin to 4.90% (from 3.78%) by reducing costs faster than revenue declined, resulting in higher operating income of $795M and net income of $587M.
Yes, CHRW repurchased $354.7M in shares during FY2025, compared to zero buybacks in the prior year. Combined with $301.4M in dividends paid, the company returned approximately $656M to shareholders, funded by its strong $914.5M in operating cash flow.
The primary risks for CHRW include its exposure to freight market cyclicality (revenue already fell 8.4% in FY2025), thin operating margins of 4.90% that are vulnerable to competitive pricing pressure, and the sustainability of its aggressive capital return program ($656M in FY2025) if freight conditions deteriorate. The company also carries a debt-to-equity ratio of 1.74x, though it reduced long-term debt by 20.9% during the year.
CHRW's balance sheet improved meaningfully in FY2025: long-term debt fell 20.9% to $1.09B, total liabilities declined 10.2% to $3.21B, and stockholders' equity grew 7.2% to $1.85B. The current ratio of 1.53x and ROA of 11.6% indicate solid liquidity and asset efficiency, while cash and equivalents grew 10.4% to $160.9M.