At a glance
ArcBest Corp is worth $2.81B, about 48 times its fiscal 2025 earnings. Revenue fell 4.0% to $4.01B in fiscal 2025, with 1.5% kept as profit; over 4 years it has grown 1.6% a year. It pays a 0.38% dividend yield, raised every year for at least 4 years, and returned $443.2M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +72.3% over the past year with dividends reinvested and +6.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 33.3% in the 2020 crash (S&P 500: 33.7%) and 42.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 14 months after the lows.
The business in plain English
ArcBest, based in Fort Smith, Arkansas, moves freight for businesses. It started more than a century ago as a local freight hauler and has about 14,000 employees. It earns money by hauling goods on its own trucks and by arranging ground, air and ocean shipments with other carriers. Total revenue was $4.01 billion in fiscal 2025, and no single customer made up more than 3% of it.
The larger segment, Asset-Based, is ABF Freight, a less-than-truckload (LTL) carrier that has run since 1923. LTL carriers combine smaller shipments from many customers into shared trailers and sort them through a network of terminals. ABF has 239 service centers that reach about 51,000 communities in all 50 states, Canada and Puerto Rico. It hauls goods such as food, furniture, chemicals, auto parts and machinery. It brought in about 66% of segment revenue in fiscal 2025. Most of its employees work under a Teamsters union contract, and labor costs equaled 52.2% of its revenue.
The Asset-Light segment, about 34% of segment revenue, relies on outside carriers and technology instead of large investments in its own trucks and buildings. It includes MoLo for full truckloads, Panther for urgent expedited delivery, and managed transportation, where ArcBest helps customers plan and run their shipping. The company also offers U-Pack household moving.
Price history
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ARCB +72.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Asset Based Segment | $2.73B | 68.2% |
| Asset Light Segment | $1.41B | 35.1% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.18B, up 15.9% from a year earlier, and net income was $-13.8M (-153.6%).
- For fiscal 2025, revenue was $4.01B (-4.0% year over year; +1.6% a year from FY2021 to FY2025) with a 1.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2025) | +1.6% watch |
|---|---|
| Operating margin | 2.3% weak |
| Free cash flow margin | 2.8% watch |
| Return on equity (FY2025) | 4.6% weak |
| Return on assets (FY2025) | 2.5% weak |
| Net cash (cash minus debt) | $-47.1M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.94B | $71.1M | $162.7M |
| FY2021 | $3.77B | $213.5M | $265.1M |
| FY2022 | $5.03B | $298.2M | $322.6M |
| FY2023 | $4.43B | $195.4M | $103.1M |
| FY2024 | $4.18B | $174.0M | $62.7M |
| FY2025 | $4.01B | $60.1M | $114.2M |
Valuation snapshot
| Market value | $2.81B |
|---|---|
| P/E ratio | 48 |
| Dividend yield | 0.38% |
Rank among 1514 US companies
Market value at each year end
ArcBest’s market value went from $708.5M at the end of 2016 to $2.81B on Oct 28, 2026, about 4.0 times as much; since the end of 2025 it is up 68%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.81B | +68.4% |
| 2025 | $1.67B | -23.5% |
| 2024 | $2.18B | -23.2% |
| 2023 | $2.84B | +66.3% |
| 2022 | $1.71B | -44.2% |
| 2021 | $3.06B | +182.7% |
| 2020 | $1.08B | +54.0% |
| 2019 | $704.0M | -20.0% |
| 2018 | $880.1M | -4.0% |
| 2017 | $916.5M | +29.4% |
| 2016 | $708.5M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ARCB price data to Oct 28, 2026 | +70.1% | +72.3% | +7.7% | +6.8% | +21.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +70.1% |
| 2025 | -20.0% |
| 2024 | -22.1% |
| 2023 | +72.4% |
| 2022 | -41.2% |
| 2021 | +182.1% |
| 2020 | +56.5% |
| 2019 | -18.6% |
| 2018 | -3.4% |
| 2017 | +30.9% |
| 2016 | +31.4% |
| 2015 | -53.5% |
| 2014 | +38.2% |
| 2013 | +255.6% |
| 2012 | -50.0% |
| 2011 | -29.4% |
| 2010 | -6.4% |
| 2009 | +0.1% |
| 2008 | +39.8% |
| 2007 | -38.0% |
| 2006 | -16.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 49.6% over that stretch · deepest drop along the way 63.6%, back to its old high 62.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 20.6% over that stretch · deepest drop along the way 33.3%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 30.5% over that stretch · deepest drop along the way 42%, back to its old high 14.2 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 9 sales ($3.2M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 4, 2026 | Erin K Gattis CHIEF HUMAN RESOURCES OFFICER | sell | $863K |
| Aug 6, 2026 | Janice E Stipp Director | sell | $501K |
| Aug 11, 2026 | Dennis L II Anderson Chief Innovation Officer | sell | $451K |
| Aug 7, 2026 | Judy R Mcreynolds Director | sell | $397K |
| Aug 11, 2026 | Dennis L II Anderson Chief Innovation Officer | sell | $285K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.7% | Jun 30, 2025 |
| Invesco Ltd. | 7.4% | Jun 30, 2026 |
| Dimensional Fund Advisors LP | 6.3% | Mar 31, 2025 |
| American Century Investment Management, Inc. | 5.8% | Dec 31, 2025 |
| Vanguard Portfolio Management | 5.73% | Mar 31, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
| AllianceBernstein L.P. | 4.6% | Mar 31, 2026 |
| FMR LLC | 0.6% | Jun 30, 2026 |
ETFs with the most weight in ARCB
| NRSH Aztlan North America Nearshoring Stock Selection ETF | 3.45% |
| XTN SPDR S&P Transportation ETF | 2.68% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 0.76% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.7% |
| XSHQ Invesco S&P SmallCap Quality ETF | 0.57% |
| WCEO Hypatia Women CEO ETF | 0.54% |
| FSCC Federated Hermes MDT Small Cap Core ETF | 0.46% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.38% |
What could go wrong
- Union contract drives up labor costs. About 81% of ABF Freight's workers are covered by a Teamsters contract through June 30, 2028. Top pay and benefit rates rise about 4.2% a year. Most rivals are nonunion, with lower costs.
- Pension contributions could rise significantly. ABF Freight pays into multiemployer pension plans, which are shared with other employers. Part of its contributions already pay benefits for people who never worked there. Future union contracts could require much larger payments.
- Freight volumes rise and fall with the economy. Volumes depend on factory output, supply chains and consumer spending. Lower volumes hit a network whose terminal and labor costs are largely fixed, and the operating margin was only 2.3% in fiscal 2025.
- Growth and cost plans may fall short. ArcBest warns that efforts to grow, or to match costs to business levels, may take longer or not pay off. On July 16, 2026, it reported restructuring costs and an asset write-down.
- Costly equipment and volatile fuel prices. The business needs heavy, ongoing spending on trucks, trailers and terminals. Higher equipment prices, fuel shortages, swings in fuel prices, or failing to collect fuel surcharges could hurt profits and cash flow.
- Contractor drivers could be ruled employees. Part of the Asset-Light segment's capacity comes from independent contractor drivers. If regulators or courts decide these drivers are really employees, ArcBest's costs could rise and its results could suffer.
Recent events
- Other company announcement
- Investor presentation or announcement
- Quarterly results released
- Other company announcement
- Restructuring or exit costs; Asset impairment; Other company announcement
- Investor presentation or announcement
- Major agreement ended
- Change to shareholder rights; Bylaws or fiscal year changed
- Quarterly results released
- Shareholder vote results
For income and retirement investors
ArcBest pays a small dividend. Dividends per share rose four years in a row, to about $0.48 in fiscal 2025 from $0.32 in fiscal 2020, or roughly 8.4% a year. The dividend takes a small share of profits: 18.3% of fiscal 2025 earnings and 9.6% of free cash flow (cash left after capital spending). But the yield was 0.38% as of October 28, 2026, so the stock produces little income. The company favors buybacks. It spent $390 million on them from fiscal 2021 to 2025, versus $53 million on dividends, and the share count fell 12.5% between July 2021 and July 2026.
The shares have fallen hard in downturns. They dropped 63.6% in the 2008 financial crisis and took until May 2014 to recover. They fell 33.3% in the 2020 COVID crash but recovered within about three months. They lost 42% in the 2022 market downturn and recovered in about 14 months. A single stock carries more risk than a diversified fund.
Questions investors ask
How does ArcBest make money?
ArcBest makes money by moving freight for businesses. Its biggest unit, ABF Freight, is a less-than-truckload carrier that combines smaller shipments from many customers into shared trailers. It produced about 66% of segment revenue in fiscal 2025. The Asset-Light segment, about 34%, arranges truckload, expedited and managed shipping through outside carriers, with little investment in its own trucks or buildings. Total revenue was $4.01 billion in fiscal 2025, and no single customer accounted for more than 3%.
Does ArcBest raise its dividend every year?
Not every year. Dividends per share stayed at $0.32 in fiscal 2020 and 2021, then rose four years in a row to about $0.48 in fiscal 2025. That works out to about 8.4% a year on average since fiscal 2020. The yield was 0.38% as of October 28, 2026, and the dividend took 18.3% of fiscal 2025 earnings. ArcBest returns more cash through buybacks: $390 million from fiscal 2021 to 2025, versus $53 million in dividends.
Is ArcBest a union company?
Yes, its largest business is. As of December 2025, about 81% of employees in the Asset-Based segment, ABF Freight, were covered by a contract with the International Brotherhood of Teamsters. The agreement runs through June 30, 2028. Top wage and benefit rates are estimated to rise about 4.2% a year, compounded. Labor costs equaled 52.2% of the segment's revenue in fiscal 2025. ArcBest says most competing carriers are nonunion, with lower benefit costs and looser work rules.
Is ArcBest profitable?
It was profitable in fiscal 2025, but margins are thin and profits have shrunk. Net income was $60.1 million on $4.01 billion of revenue, a 1.5% net margin and 65.5% below fiscal 2024. Diluted earnings per share fell to $2.62, from $11.69 in fiscal 2022. In the quarter ended June 30, 2026, revenue rose 15.9% from a year earlier to $1.18 billion, but ArcBest posted a net loss of $13.8 million. A July 16, 2026 filing reported restructuring costs and an asset impairment, or write-down.
Is ArcBest stock volatile?
Yes. As of October 28, 2026, the shares' one-year volatility was 46.3%. Volatility measures how widely the price moves. The shares had fallen as much as 62.5% from a high during the prior three years. Calendar-year returns ranged from a 182.1% gain in 2021 to a 41.2% loss in 2022, and the shares fell about 22% in 2024 and 20% in 2025. As of the same date, they were up 70.1% year to date and traded at 48 times fiscal 2025 earnings.