NASDAQ: CHRW · Air Freight & Logistics
C.H. Robinson
C.H. Robinson is a freight broker and logistics company. It owns very little transportation equipment; instead it matches 75,000 customers with a network of 450,000 contract carriers and earns the spread between what shippers pay and what it pays carriers. Its two reportable segments are North American Surface Transportation (truckload and LTL brokerage) and Global Forwarding (ocean, air, and customs); it also runs Robinson Fresh produce sourcing. FY2025 revenue was $16.2 billion and net income $587 million. On October 4, 2026 it agreed to acquire RXO, another freight broker, in a cash-and-stock deal expected to close in the first half of 2027.
Last updated
Analysis last edited: October 31, 2026 · Financial data fetched: October 17, 2026 10:06 (SEC EDGAR) · Source 10-K filed: February 13, 2026
Built on10-K FY2025 · filed 2026-02-1310-Q (quarter ended 2026-09-30) · filed 2026-10-30
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 0.0%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 4.9%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- +11.9 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- 1.0x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 1.56x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 5 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 23.6x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 0.84
Higher than 6% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 13% of 311 non-financial companies
Latest fiscal year (FY2025)
Higher than 75% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 37% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 52% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-09-30
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$133.49close on 2026-11-04
Market cap$15.81B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 23.6x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 8.6x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 18.6x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 5.7%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 1.9%
At FY2025 year-end: 33.3x
Earnings: trailing 12 months to 2026-09-30
At FY2025 year-end: 10.3x
Book value at FY2025 year-end
At FY2025 year-end: 22.2x
EBITDA for FY2025
At FY2025 year-end: 4.7%
Free cash flow for FY2025
Dividends per share for FY2025
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Sep 30, 2026.
- Revenue$4.14B → $5.36B (vs. a year earlier)↑ +29.5%$4.14B → $5.36B (vs. a year earlier)
- Operating margin5.3% → 5.1% (vs. a year earlier)↓ −0.3 pts5.3% → 5.1% (vs. a year earlier)
- Net income$163M → $198M (vs. a year earlier)↑ +21.8%$163M → $198M (vs. a year earlier)
- Diluted EPS$1.34 → $1.67 (vs. a year earlier)↑ +24.6%$1.34 → $1.67 (vs. a year earlier)
- Cash$155M → $193M (vs. previous quarter-end)↑ +24.9%$155M → $193M (vs. previous quarter-end)
- Long-term debt$1.69B → $1.87B (vs. previous quarter-end)↑ +10.9%$1.69B → $1.87B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Oct 28, 2026.
Key changes
Income from operations up 23.1% to $271.8M. Source sentence
Income from operations increased 23.1% to $271.8 million
Diluted EPS up 24.6% to $1.67. Source sentence
Diluted earnings per share ("EPS") increased 24.6% to $1.67
Cash from operations down $151.3M to $124.1M. Source sentence
Cash generated by operations decreased by $151.3 million to $124.1 million due to unfavorable changes in working capital driven by higher transportation rates
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- C. H. ROBINSON WORLDWIDE, INC.
- Headquarters
- EDEN PRAIRIE, MN
- Incorporated in
- Delaware
- Fiscal year end
- 12/31
- Exchange & ticker
- NASDAQ: CHRW
- Industry
- Air Freight & Logistics
- CIK
- 1043277
Workforce (as of FY2025 year-end)
Employees
11,855
Source: Form 10-K (FY2025) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q4 FY2026
Quarter end: December 2026. In past years, Q4 results were released 28–31 days after quarter end (Jan 28, 2026; Jan 29, 2025; Jan 31, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around December 31.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 28–31 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | Oct 28, 2026 (+28 days) | Oct 30, 2026 10-Q (+30 days) |
| Q2 FY2026 | Jun 30, 2026 | Jul 29, 2026 (+29 days) | Jul 31, 2026 10-Q (+31 days) |
| Q1 FY2026 | Mar 31, 2026 | Apr 29, 2026 (+29 days) | May 1, 2026 10-Q (+31 days) |
| Q4 FY2025 | Dec 31, 2025 | Jan 28, 2026 (+28 days) | Feb 13, 2026 10-K (+44 days) |
| Q3 FY2025 | Sep 30, 2025 | Oct 29, 2025 (+29 days) | Oct 31, 2025 10-Q (+31 days) |
| Q2 FY2025 | Jun 30, 2025 | Jul 30, 2025 (+30 days) | Aug 1, 2025 10-Q (+32 days) |
| Q1 FY2025 | Mar 31, 2025 | Apr 30, 2025 (+30 days) | May 2, 2025 10-Q (+32 days) |
| Q4 FY2024 | Dec 31, 2024 | Jan 29, 2025 (+29 days) | Feb 14, 2025 10-K (+45 days) |
| Q3 FY2024 | Sep 30, 2024 | Oct 30, 2024 (+30 days) | Nov 1, 2024 10-Q (+32 days) |
| Q2 FY2024 | Jun 30, 2024 | Jul 31, 2024 (+31 days) | Aug 2, 2024 10-Q (+33 days) |
| Q1 FY2024 | Mar 31, 2024 | May 1, 2024 (+31 days) | May 3, 2024 10-Q (+33 days) |
| Q4 FY2023 | Dec 31, 2023 | Jan 31, 2024 (+31 days) | Feb 16, 2024 10-K (+47 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
NAST
Truckload and LTL brokerage
Examples: Contract and spot truckload, LTL
Truckload adjusted gross profit was $1.05B and LTL $610M in 2025.
Global Forwarding
Ocean, air, customs
Examples: NVOCC ocean freight, air freight, customs brokerage
International freight forwarding.
All Other
Robinson Fresh and Managed Solutions
Examples: Produce sourcing, Managed TMS
Sourcing and outsourced transportation management.
Descriptions are from the FY2025 Form 10-K's Item 1.
U.S., worldwide and country/regional share of flagship products/services
Only shares the company itself states (in its filings or press releases, sometimes citing a research firm) are shown. Scope and timing vary by figure — treat these as approximate.
Logistics services (truckload brokerage, global forwarding)
Global logistics providers
U.S. share
—
Not disclosedWorldwide share
One of the largest
Company-disclosedThe 10-K calls C.H. Robinson one of the largest global logistics providers, with $16.2B of 2025 revenue; no share figure is given.
Sources:
07
Recent strategic focusSite analysis
Restructuring, 2026 results, and the RXO deal, from 8-Ks.
RXO acquisition agreed
On October 4, 2026, C.H. Robinson agreed to acquire RXO; each RXO share can receive $17.25 cash plus 0.0856 CHRW shares, $30.25 cash, or 0.1992 CHRW shares (subject to proration). Closing is expected in the first half of 2027, backed by a $4.5B bridge facility commitment. On October 22, 2026 the credit agreement was amended to permit the RXO acquisition and its financing.
Source: 8-K filed 2026-10-05; 8-K filed 2026-10-28 (Item 1.01)
Q3 2026 results
Income from operations rose 23.1% to $271.8M and diluted EPS 24.6% to $1.67; operating cash flow fell $151.3M to $124.1M on working capital; $289.1M was returned to shareholders (+52.5%).
Source: 8-K filed 2026-10-28 (Exhibit 99.1)
Advisory jury verdict
A Dallas County jury awarded $604M in compensatory damages in an advisory verdict against the company and two others in July 2026.
Source: 8-K filed 2026-07-24
Europe exit
The Europe Surface Transportation business was sold effective February 1, 2025.
Source: Form 10-K (FY2025) Note 15
Capex ÷ D&A (FY2025)
0.19x
Below depreciation — investment is being pared back
formulacapital expenditures ÷ depreciation & amortization
e.g.$20M ÷ $103M = 0.19x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
M&A spend (6-year total)
$250M
Latest year: $12M
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M. Capex went from $23M in FY2020 to $20M in FY2025
- Capex
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
08
Key figures at a glanceFrom SEC data
FY2020–FY2025, 6 years.
Revenue (FY2025)
$16.23B
As reported in the 10-K
Revenue CAGR (5 years)
+0.0%
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($16,233M ÷ $16,207M) ^ (1÷5) − 1 = 0.0%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2025)
4.9%
+0.7pt vs. 5 years ago
formulaoperating income ÷ revenue × 100
e.g.$795M ÷ $16,233M × 100 = 4.9%
ROE (FY2025)
32.9%▲favorable
6-year average: 35.3%
As reported in the 10-K
P/B (FY2025 end)
10.32x
formulafiscal year-end closing price ÷ book value per share
e.g.$160.76 ÷ $15.58 = 10.32x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2025 end)
22.2x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($19,039M + $1,089M − $161M) ÷ ($795M + $103M) = 22.2x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ―
Revenue grew +0.0% a year over 5 years (modest growth)
From $16.21B in FY2020 to $16.23B in FY2025. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ―
Operating margin held roughly flat: 4.2% → 4.9%
How much operating profit is left per $100 of revenue. It moved +0.7 points over 5 years — pricing power, cost control, and product mix all show up here.
- ―
Equity ratio is 36.5% (a middling level)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 6 of 6 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ▲
ROE averaged 35.3% over 6 years (latest: 32.9%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
No partners or suppliers named in the filings.
07 · what it does
Key activities
North American Surface Transportation
Matching shippers' loads with carriers- Pricing and managing shipments
Global Forwarding
Consolidating and forwarding international shipments- Customs brokerage
All Other
Buying and selling fresh produce- Managing clients' transportation
06 · what it draws on
Key resources
North American Surface Transportation
Contract carriers (450,000 on its platform)- Proprietary technology and pricing models (Lean AI)
Global Forwarding
Ocean and air carrier capacity- Offices and agents worldwide
All Other
Produce growers- TMS technology
02 · why customers buy
Value propositions
- Logistics expertise, differentiated technology and an integrated portfolio across truck, ocean, air and rail.
04 · how it keeps them
Customer relationships
- Long-term relationships, growing the business done with each customer by providing more services.
03 · how it reaches them
Channels
- Its own sales and operations teams serving about 75,000 customers worldwide.
01 · who it serves
Customer segments
North American Surface Transportation
Shippers from Fortune 100 companies to small businessesGlobal Forwarding
Importers and exportersAll Other
Retailers, foodservice, and shippers
09 · where money goes
Cost structure
FY2025, share of revenue ($16.23B)
- Other operating costs (incl. cost of goods sold)95.1%
Operating profit left: 4.9% of revenue. Depreciation & amortization (inside the costs above): $103M. Capital spending: $20M.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
North American Surface Transportation
Freight charges billed to shippers (gross), less purchased transportationGlobal Forwarding
Forwarding and brokerage feesAll Other
Produce sales- Management fees
Value propositions, channels and customer relationships: Form 10-K (FY2025)
North American Surface Transportation (NAST)
Truckload and less-than-truckload brokerage across the U.S., Canada, and Mexico.
01 what it draws on
Inputs & resources
- Contract carriers (450,000 on its platform)
- Proprietary technology and pricing models (Lean AI)
02 what it does
Activities
- Matching shippers' loads with carriers
- Pricing and managing shipments
03 who it serves
Customers
- Shippers from Fortune 100 companies to small businesses
04 how money comes in
How it earns
- Freight charges billed to shippers (gross), less purchased transportation
North American Surface Transportation (NAST): how it makes money
- Revenue $11.56B and segment operating income $622M in FY2025, up from $531M.
- Q3 2026 NAST volume rose about 3.5% while the Cass Freight Shipment Index fell 0.3%.
Global Forwarding
Ocean and air freight forwarding and customs brokerage through an international office network and independent agents.
01 what it draws on
Inputs & resources
- Ocean and air carrier capacity
- Offices and agents worldwide
02 what it does
Activities
- Consolidating and forwarding international shipments
- Customs brokerage
03 who it serves
Customers
- Importers and exporters
04 how money comes in
How it earns
- Forwarding and brokerage fees
Global Forwarding: how it makes money
- Revenue $3.09B and segment operating income $184M in FY2025 (down from $3.81B and $212M).
All Other (Robinson Fresh, Managed Solutions)
Fresh produce sourcing and marketing, and outsourced transportation management (Managed TMS). Europe Surface Transportation was sold in February 2025.
01 what it draws on
Inputs & resources
- Produce growers
- TMS technology
02 what it does
Activities
- Buying and selling fresh produce
- Managing clients' transportation
03 who it serves
Customers
- Retailers, foodservice, and shippers
04 how money comes in
How it earns
- Produce sales
- Management fees
All Other (Robinson Fresh, Managed Solutions): how it makes money
- Sourcing revenue was $1.41B in FY2025.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
C.H. Robinson’s forwarding volumes were hit by 2025 tariffs.
Trade & export rules
Tariffs
Tariffs affected Global Forwarding in 2025, especially the second quarter.
Constrains the businessTouches: Customers · How it earnsSource: Form 10-K (FY2025)
Revenue by segment (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue, margin = segment profit ÷ segment revenue × 100
NAST
11,562.7 (71%)profit 621.8 · margin 5.4%
Global Forwarding
3,090 (19%)profit 183.8 · margin 5.9%
All Other and Corporate
1,580 (10%)profit —
Source: Form 10-K (FY2025) — Notes 8 and 9, Segment Reporting and Revenue Revenue is gross (including amounts paid to carriers). Profit is segment operating income; All Other and Corporate had an operating loss of $11M including unallocated costs. Adjusted gross profit margin (non-GAAP) was 16.8% in 2025.
10
Where it earnsSite analysis
Many U.S.-listed companies earn most of their revenue outside the U.S. — this breaks down revenue by country/region so it's clear where the business actually makes its money.
Largest market (FY2025)
United States — 88% of revenue
Revenue by country / region (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue
United States
14,339.5 (88%)Other locations
1,893.3 (12%)
Source: Form 10-K (FY2025) — Note 8 By location of the customer.
11
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
Commitments range from single shipments to integrated multi-year relationships. Customer concentration is low: the largest customer was about 2% of 2025 revenue, though the top 100 customers made up about 40% of revenue.
Top 100 customers
About 40% of total revenues, about 28% of adjusted gross profits in 2025
Largest single customer about 2%.
12
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
75,000 customers worldwide, from Fortune 100 companies to small businesses.
Named by the company
No customer is named; the largest was about 2% of 2025 revenue.
What the filings disclose
- Customers fell from 83,000 in 2024 to 75,000 in 2025, mainly due to the sale of Europe Surface Transportation. (Form 10-K (FY2025), Item 1)
Suppliers
Contract carriers (motor carriers, railroads, ocean and air carriers) and produce growers.
Named by the company
None named in the 10-K or the company’s press releases.
What the filings disclose
- 450,000 contract carriers on its platform. (Form 10-K (FY2025), Item 1)
13
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
C.H. Robinson's 10-K says it competes against asset-based transportation providers, third-party brokers, technology matching and internet brokers, carriers offering logistics, on-demand providers, NVOCCs, IACs, and freight forwarders, and in produce against brokers, growers, and wholesalers. No company is named.
Competitors named in the 10-K
C.H. Robinson's 10-K doesn't name competitors.
Peer group the company chose
2025 compensation peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
Transportation, logistics, and distribution companies of comparable size. Uber and Fastenal were removed for 2026.
- CSXsite ↗
- Expeditors Internationalsite ↗
- Fastenalsite ↗
- FedExsite ↗
- GXO Logisticssite ↗
- Hub Groupsite ↗
- J.B. Hunt Transport Servicessite ↗
- Knight-Swift Transportationsite ↗
- Landstar Systemsite ↗
- Norfolk Southernsite ↗
- Old Dominion Freight Linesite ↗
- Performance Food Groupsite ↗
- RXOsite ↗
- Ryder Systemsite ↗
- Schneider Nationalsite ↗
- Ubersite ↗
- United Natural Foodssite ↗
- UPSsite ↗
- US Foodssite ↗
- W.W. Graingersite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
14
M&A historySite analysisShow
Companies acquired over the last five years, plus older large acquisitions that still anchor a current business — what each was bought to do, and what happened afterward. From the 10-K, 8-Ks, and the company's press releases.
C.H. Robinson's pending RXO deal would be its largest acquisition.
Cash spent on acquisitions, FY2020–FY2025: $250M
Pending (expected 1H 2027)
RXO, Inc.
Per RXO share: $17.25 cash + 0.0856 CHRW share, or $30.25 cash, or 0.1992 CHRW share (prorated)
Freight brokerage and logistics company.
- Stated purpose (company)
- Not stated in the 8-K's Item 1.01.
Source: 8-K filed 2026-10-05
15
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
| Line item | FY202010-K on EDGAR ↗ | FY202110-K on EDGAR ↗ | FY202210-K on EDGAR ↗ | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 16,207 | 23,102 | 24,697 | 17,596 | 17,725 | 16,233 |
| Operating income | 673 | 1,082 | 1,267 | 515 | 669 | 795 |
| Pretax income | 628 | 1,022 | 1,167 | 409 | 579 | 722 |
| Net income (attributable) | 506 | 844 | 941 | 325 | 466 | 587 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 42.5% | 6.9% | -28.7% | 0.7% | -8.4% |
| Operating margincalcoperating income ÷ revenue × 100 | 4.2% | 4.7% | 5.1% | 2.9% | 3.8% | 4.9% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 3.1% | 3.7% | 3.8% | 1.8% | 2.6% | 3.6% |
| Balance sheet ($M) | ||||||
| Total assets | 5,144 | 7,028 | 5,955 | 5,225 | 5,298 | 5,058 |
| Total equity | 1,880 | 2,022 | 1,353 | 1,419 | 1,722 | 1,846 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | 1,093 | 1,919 | 1,974 | 1,580 | 1,378 | 1,089 |
| Equity ratio | 36.5% | 28.8% | 22.7% | 27.2% | 32.5% | 36.5% |
| ROE | 26.9% | 43.3% | 55.7% | 23.5% | 29.7% | 32.9% |
| Cash flow ($M) | ||||||
| Operating CF | 499 | 95 | 1,650 | 732 | 509 | 915 |
| Investing CF | -272 | -86 | -65 | -83 | -74 | -55 |
| Financing CF | -441 | 8 | -1,620 | -718 | -416 | -863 |
| Free cash flowcalccash flow from operations − capital expenditures | 476 | 61 | 1,588 | 702 | 486 | 895 |
| Cash and equivalents | 244 | 257 | 217 | 146 | 146 | 161 |
| Per share & other | ||||||
| EPS ($) | 3.72 | 6.31 | 7.40 | 2.72 | 3.86 | 4.83 |
| BVPS ($) | 14.00 | 15.65 | 11.64 | 12.15 | 14.51 | 15.58 |
| Dividend per share ($) | 2.04 | 2.08 | 2.26 | 2.44 | 2.46 | 2.49 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | 54.8% | 33.0% | 30.5% | 89.7% | 63.7% | 51.6% |
| P/E (x) | 25.2 | 17.1 | 12.4 | 31.8 | 26.8 | 33.3 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 17.4 | 13.3 | 9.1 | 18.8 | 17.6 | 22.2 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 6.71 | 6.88 | 7.87 | 7.11 | 7.12 | 10.32 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-09-30 | $5.36B+29.5% | $272M+23.1% | $198M+21.8% | $1.67 |
| 2026-06-30 | $4.93B+19.3% | $256M+18.4% | $187M+22.5% | $1.56 |
| 2026-03-31 | $4.01B-0.8% | $176M-0.7% | $147M+8.8% | $1.22 |
| 2025-12-31 † | $3.91B-6.5% | $181M-1.3% | $136M-8.7% | — |
| 2025-09-30 | $4.14B | $221M | $163M | $1.34 |
| 2025-06-30 | $4.14B | $216M | $152M | $1.26 |
| 2025-03-31 | $4.05B | $177M | $135M | $1.11 |
| 2024-12-31 † | $4.18B | $184M | $149M | — |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
16
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2025)
21.2%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$795M × (1 − 19.5%) ÷ $3,017M × 100 = 21.2%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
9.30%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $19.04B ÷ ($19.04B + $1.09B) = 94.6%
e.g.Debt weight: $1.09B ÷ ($19.04B + $1.09B) = 5.4%
e.g.WACC: 9.6% × 94.6% + 5.8% × (1 − 19.5%) × 5.4% = 9.30%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 7.7%–11.3% and ROIC − WACC runs +9.9 to +13.5 points. The sign holds across this range. This describes the latest year and does not predict future value creation.
WACC 9.30% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 0.84 (price-derived adjusted beta, but correlation with the market is low (R² 0.09), so reliability is limited)
- Equity risk premium
- 5.5%
- Cost of equity
- 9.57%
- Cost of debt
- 5.79%
- Tax rate
- 19.5% (effective rate, FY2023–FY2025)
- Capital structure (equity : debt)
- 95% : 5%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 9.30%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 0.84 (price-derived adjusted beta. Raw β 0.76, R² 0.09, 130 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 0.757 + 0.33 = 0.837
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 0.84 × 5.5% = 9.6%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
17
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
4.0%
Perpetual FCF growth: g = r − FCF ÷ EV = 9.3% − 5.3%
Past FCF growth (FY2020–FY2025)
+13.5%
Compound annual rate, 5 years
Past revenue growth (FY2020–FY2025)
+0.0%
Compound annual rate, 5 years
Inputs (FY2025): free cash flow $895M (operating CF − capex); enterprise value $16.74B = market cap $15.81B (latest close, 2026-11-04) + debt $1.09B − cash and short-term investments $161M; r = WACC of 9.3% using this page’s default assumptions (β 0.84, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$16.88B
FCF $895M ÷ (9.3% − 4.0%)
Theoretical ÷ actual enterprise value
1.01x
Above 1x: these assumptions value the business above the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 7.3% | 8.3% | 9.3% | 10.3% | 11.3% |
|---|---|---|---|---|---|
| 0% | 0.73x | 0.64x | 0.57x | 0.52x | 0.47x |
| 2% | 1.01x | 0.85x | 0.73x | 0.64x | 0.57x |
| 4% | 1.62x | 1.24x | 1.01x | 0.85x | 0.73x |
| 6% | 4.11x | 2.32x | 1.62x | 1.24x | 1.01x |
| 8% | — | 17.82x | 4.11x | 2.32x | 1.62x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
18
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- ✓
Operating CF ÷ net income: averages 1.29x
Profit is backed by cash coming in.
- ✓
Accrual ratio (latest): -6.3%
A small share of profit rests on accounting estimates.
- ✓
Core-earnings share (operating income ÷ pretax income): 110%
Most profit comes from core operations.
- ✓
Days sales outstanding: 55 → 53 days
No major slowdown in collecting on sales.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
Profit bridge (FY2025)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-13
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days sales outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$915M ÷ $587M = 1.56x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$795M ÷ $722M × 100 = 110%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
e.g.($2,384M + $2,361M) ÷ 2 ÷ $16,233M × 365 = 53 days
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
19
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 100%+
- Directors & officers (shares)
- 0.4%
- Everyone else (est.)
- ≈0%
- Directors & officers (voting power)
- 0.4%
- Institutional-ownership rank
- 23 of 416
- Beta (adjusted)
- 0.84
Reported total 106.3%
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 5% of covered companies have more
above 1 = swings more than the market
- 124.2M shares reported by 890 13F filers ÷ 116.9M shares outstanding on 2026-07-29. Option positions are excluded.
- The 13F total exceeds shares outstanding because some shares are reported twice — for example shares lent to short sellers and then bought by another manager, or holdings that overlapping managers both report.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-03-24 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-07-29)
20
Strengths & weaknessesSite analysis
Strengths
1. Asset-light model
C.H. Robinson owns very little transportation equipment, relying on 450,000 contract carriers; capex was $20M in 2025.
Evidence: Form 10-K (FY2025) Item 1; SEC EDGAR XBRL
2. Productivity gains
Average headcount fell from 16,041 (2023) to 12,733 (2025) while operating income rose from $515M to $795M.
Evidence: Form 10-K (FY2025) MD&A
3. Market share gains
Q3 2026 was the 14th consecutive quarter of NAST volume outgrowing the market, NAST truckload adjusted gross profit per shipment rose 17.0%, and both NAST and Global Forwarding hit their mid-cycle operating margin targets.
Evidence: 8-K filed 2026-10-28 (Exhibit 99.1)
4. Low customer concentration
The largest customer was about 2% of 2025 revenue.
Evidence: Form 10-K (FY2025) Item 1
Weaknesses
1. Freight cycle exposure
Revenue fell from $24.7B (2022) to $16.2B (2025), and net income from $941M to $587M; the Cass Freight Shipment Index was still down year over year in Q3 2026 (−0.3%).
Evidence: SEC EDGAR XBRL; 8-K filed 2026-07-29; 8-K filed 2026-10-28 (Exhibit 99.1)
2. Litigation exposure
In July 2026 a Dallas County jury issued an advisory verdict of $604M in compensatory damages, which could be assessed against C.H. Robinson, over an accident involving an independent motor carrier.
Evidence: 8-K filed 2026-07-24
3. Thin margins on gross revenue
Adjusted gross profit margin was 16.8% of revenue in 2025, and operating income was 4.9% of revenue.
Evidence: Form 10-K (FY2025) MD&A
21
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2025)
33.3x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2025)
1.55%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2025)
52%
Dividends per share ÷ diluted EPS
FCF yield (FY2025)
4.7%
(Operating CF − capex) ÷ market cap
1. Earnings recovery in a weak market
EPS rose from $2.72 (2023) to $4.83 (2025); Q2 2026 EPS was up 23.8% and Q3 2026 up 24.6%.
- What has to hold
- Productivity gains continue.
- The other side
- Revenue is still well below 2022, and the RXO deal adds risk.
Evidence: SEC EDGAR XBRL; 8-K filed 2026-07-29; 8-K filed 2026-10-28 (Exhibit 99.1)
2. Dividend
Dividends per share rose from $2.08 (2021) to $2.49 (2025).
- What has to hold
- Cash flow holds up.
- The other side
- Dividend growth has been slow since 2023.
Evidence: SEC EDGAR XBRL
P/E, dividend yield, payout ratio, and FCF yield use the FY2025 year-end share price. Interest expense is shown only for FY2024–FY2025, from the MD&A.
22
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2025)
Cash & short-term investments ÷ debt due within a year
No debt due
$161M vs. $0
Interest coverage (operating income ÷ interest expense)
12.6x
$795M vs. $63M
Free cash flow ÷ dividends paid
3.0x
$895M vs. $301M (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | -28.7% in FY2023 ($24.7B → $17.6B) | Not yet, as of FY2025 |
| Operating income | -59.4% in FY2023 ($1.27B → $515M) | Not yet, as of FY2025 |
Covers only the 6 fiscal years on record (FY2020–FY2025), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Low capital needs
Asset-light model with about $20M of capex in 2025.
Source: SEC EDGAR XBRL
Cash generation
Operating cash flow of $915M in 2025.
Source: SEC EDGAR XBRL
23
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
C.H. Robinson faces a July 2026 Texas jury verdict that found it negligent in hiring a motor carrier involved in a fatal 2021 crash. Total damages were $604 million, of which 23% was attributed to C.H. Robinson.
1 open matter (1 flagged as major)
Lipe v. Lupus Superior negligent-hiring verdict
PendingLawsuitMajorLipe plaintiffs (Dallas County District Court, Tex.)
On July 23, 2026 a jury found C.H. Robinson negligently hired an independent motor carrier whose truck was in a catastrophic March 2021 accident. Because the jury also found it vicariously liable, C.H. Robinson may be jointly and severally liable for the full $604 million award plus $107 million of pre-judgment interest. The company says it did not employ, supervise or control the driver. It recorded only an immaterial accrual at September 30, 2026, saying the full amount is not probable to be sustained.
- Amounts
- $604 million total damages (23% attributed to C.H. Robinson); only an immaterial amount is accrued. Insurance covers $155 million per occurrence above a $5 million deductible.
- Next step
- C.H. Robinson intends to appeal as soon as judgment is entered as final.
Source: Form 10-Q (quarter ended 2026-09-30) — Legal Proceedings
Company statement: Apart from this matter, C.H. Robinson reports only routine litigation, including contingent auto liability cases, that it does not expect to be material.
Based on Form 10-Q (quarter ended 2026-09-30) — Legal Proceedings, reviewed 2026-10-18. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
24
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
- 1Demand & macro
Freight demand and pricing
- Company disclosure (summarized from the 10-K)
- Volumes and margins depend on freight demand and the spread between contract rates and carrier costs; truckload spot costs rose significantly in Q2 and Q3 2026, and higher transportation rates cut Q3 operating cash flow to $124M.
- Company’s stated mitigation
- Revenue management and productivity improvements through its Lean AI strategy, per the company.
- This site’s assessment
- Impact High / Likelihood High
- 2Competition & technology shift
Fragmented competition
- Company disclosure (summarized from the 10-K)
- Competes with asset-based carriers, freight brokers, digital matching services, carriers offering logistics, freight forwarders, and NVOCCs in a highly competitive, fragmented industry.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 3Law & regulation
Liability for carrier accidents
- Company disclosure (summarized from the 10-K)
- Lawsuits over accidents involving independent motor carriers can result in large verdicts, such as the $604M advisory verdict in 2026.
- Company’s stated mitigation
- The company disagrees with the verdict and expects to appeal if it becomes final.
- This site’s assessment
- Impact High / Likelihood Med
- 4M&A & integration
RXO acquisition
- Company disclosure (summarized from the 10-K)
- The RXO deal requires up to a $4.5B bridge loan, shareholder approval, and integration of a large broker.
- Company’s stated mitigation
- A $175M termination fee payable by RXO in specified circumstances; MFN Partners signed a voting and support agreement.
- This site’s assessment
- Impact High / Likelihood Med
- 5Customers & sales
Large customers
- Company disclosure (summarized from the 10-K)
- Top 100 customers were about 40% of revenue; the 10-K says the sudden loss of major customers could materially affect results.
- Company’s stated mitigation
- Largest customer only about 2% of revenue.
- This site’s assessment
- Impact High / Likelihood Low
- 6FX & interest rates
Interest rates
- Company disclosure (summarized from the 10-K)
- Exposed mainly through short-term floating-rate debt.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Low / Likelihood Med
25
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (2)
The industry is undergoing rapid technological change, including the emergence of disruptive technologies and accelerated adoption of automation and AI. Read more
Competitors are leveraging advanced digital platforms, AI-driven freight matching, and automation to improve efficiency and reduce costs. If we fail to maintain the pace, scale, or quality of automation and AI adoption, we may be unable to achieve our strategic goals for operational efficiency and digital transformation. Inability to keep up with these advancements could increase our cost to serve customers, reduce productivity and negatively impact our ability to compete. Delays in implementing new systems or integrating emerging technologies into our workflows may also lead to higher operating expenses and missed opportunities for growth. If we cannot effectively respond to competitive pressures and technological disruption, our…
• changes in tariffs, trade restrictions, trade agreements, and taxations. Read more
In 2025, the United States government made significant changes to our national trade policy, including imposing tariffs on certain goods imported into the United States. The tariffs impacted our Global Forwarding business in 2025, most significantly in the second quarter of 2025, with volatile market conditions causing global demand fluctuations and lower volumes. Changes in United States trade policy, including tariffs on certain imported goods, could continue to increase our costs and disrupt global supply chains. These actions, and any retaliatory measures by other countries, may lead to higher transportation costs and reduced demand, resulting in potential loss of freight volume. Additionally, heightened customs requirements could delay shipments and require significant internal resources, increasing…
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Feb 13, 2026 ↗ with the 10-K filed Feb 14, 2025 ↗.
26
What to watch going forwardSite analysis
- RXO deal approvals, financing, and integration.
- Outcome of the $604M advisory verdict.
- Freight market recovery and spot truckload costs.
- Further productivity gains from AI and automation.
- Global Forwarding results as ocean rates move.
27
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Last updated
Analysis last edited: October 31, 2026 · Financial data fetched: October 17, 2026 10:06 (SEC EDGAR) · Source 10-K filed: February 13, 2026
Built on10-K FY2025 · filed 2026-02-13
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent C.H. Robinson’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.