Saia, Inc. (SAIA) Stock Price & How to Invest
Last updated July 2026
Short answer
Saia (SAIA) is one of the two large publicly traded pure-play less-than-truckload (LTL) freight carriers in the US, so it is a way to own a fast-growing, aggressively expanding domestic trucking operator whose stock trades at a premium multiple and moves closely with the industrial and freight cycle.
SAIA stock price
As of 2026-07-24, Saia, Inc. (SAIA) last closed at $423.68, up 27.0% over the past year. Over the past 52 weeks it has traded between $250.48 and $487.14.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Saia, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Saia, Inc. (SAIA) do?
Saia, Inc. is a national less-than-truckload carrier that hauls pallet-sized shipments for many customers on shared trucks across a network of more than 200 terminals, competing in the same LTL niche as Old Dominion. The company has spent aggressively since 2022, opening dozens of new terminals (including facilities picked up after rival Yellow collapsed in 2023) and investing over $2 billion in real estate and technology to expand its geographic footprint from a regional Southern base toward true national coverage.
The investment picture is a classic growth-versus-cycle tension. Volumes are re-accelerating (quarter-to-date tonnage per workday up in the high single digits in early Q2 2026) and the long-run story is share gains plus margin leverage as immature terminals ramp. Against that, the operating ratio has been elevated near 91% while new facilities drag on profitability, freight demand remains soft, and the stock carries a premium earnings multiple that leaves little room for disappointment. It is a cyclical, expansion-stage compounder rather than a steady defensive holding.
What's driving Saia, Inc. (SAIA)?
1. National network expansion
Saia has rapidly grown its terminal count past 200 locations, adding facilities in new markets to convert a historically Southern regional carrier into a national one. Management frames these openings as multi-year margin builders as ramping terminals mature toward company-average productivity. The expansion is the core reason revenue and volumes can grow faster than the broader freight market.
2. Volume re-acceleration and margin leverage
Early Q2 2026 data showed shipments and tonnage per workday rising versus 2025, and management guided to a large sequential operating-ratio improvement into the summer. Because LTL is a high-fixed-cost, density-driven business, incremental freight over an already-built network can lift margins meaningfully. Better utilization of new terminals is the swing factor for earnings recovery.
3. Pricing and yield discipline
Saia has pushed contractual renewals and yield improvements to offset cost inflation and the drag from immature facilities. LTL pricing has held up better than truckload through the downturn, supported by tighter industry capacity after Yellow's exit. Sustained yield gains are what let the company protect margins while it absorbs expansion costs.
4. Post-Yellow industry consolidation
The 2023 collapse of Yellow removed a major LTL competitor and redistributed freight and terminals to survivors including Saia. A more consolidated LTL field supports firmer pricing and gives disciplined operators room to gain share. Saia was one of the most active buyers of Yellow's former terminals, positioning it for the next up-cycle.
What are the risks to Saia, Inc. (SAIA)?
Saia's earnings are highly cyclical and tied to industrial production, retail freight, and the broader economy, so a prolonged freight recession pressures volumes and pricing at once. The heavy terminal-expansion program raises costs and capital spending ahead of the revenue it is meant to generate, keeping the operating ratio elevated and dragging on near-term margins. The stock trades at a premium price-to-earnings multiple, which amplifies downside if growth or margin recovery disappoints. Competition from larger and better-capitalized rivals such as Old Dominion is intense, and fuel prices, driver costs, and labor availability all add volatility. Weather and seasonal demand swings can materially move any single quarter.
How is Saia, Inc. (SAIA) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Saia, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$3.2B
- Net income (TTM): ~$320M
- Diluted EPS (TTM): ~$11
- Market cap: ~$11B
- P/E (TTM): ~37x
- Operating ratio (Q1 2026): ~91.7%
Q1 2026 revenue set a record near $806M, up about 2.4% year over year, though margins were pressured by immature terminals and soft demand. The stock's roughly high-30s price-to-earnings multiple sits well above the broad market, reflecting expectations for continued expansion and eventual margin recovery. Figures are approximate and shift with each quarterly report and stock-price move; the Q2 2026 results were due around July 30, 2026.
Who competes with Saia, Inc. (SAIA)?
LTL pure-play carriers
Old Dominion Freight Line (ODFL) is the largest and most profitable US LTL pure-play and Saia's closest comparable, with roughly twice the revenue and industry-best operating ratios. Both compete directly for national LTL freight, and Old Dominion is the benchmark Saia measures its margins against.
Diversified freight and LTL operators
XPO, ArcBest (ArcBest/ABF Freight), TFI International (including TForce Freight), and FedEx Freight run large LTL operations alongside other logistics businesses. They compete with Saia on lanes, pricing, and capacity, and several expanded after Yellow's collapse redistributed freight across the industry.
Regional and private carriers
Estes Express Lines and R+L Carriers are large privately held LTL operators, and broader trucking and logistics names such as Knight-Swift, Old Dominion, and C.H. Robinson touch adjacent freight markets. These players set regional pricing and service benchmarks that affect Saia's share and yields.
How to invest in Saia, Inc. (SAIA)
There are three common ways to get SAIA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so SAIA sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where SAIA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Saia, Inc. (SAIA)
SAIA is a high-growth LTL pure-play executing a big terminal expansion into a soft freight market, which pairs strong volume trends and long-run upside with cyclical earnings and a rich valuation.
More on Saia, Inc. (SAIA)
Whether SAIA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SAIA a buy?, and where the stock could go from here in the SAIA stock forecast.
For income investors, whether SAIA pays a dividend and how the payout looks is covered in does SAIA pay a dividend?
Build a basket around SAIA with Walnut
Use Saia, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Saia do?
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Saia is a less-than-truckload (LTL) freight carrier. It transports pallet-sized shipments for many different customers on shared trucks, moving freight between a national network of more than 200 terminals rather than dedicating a full trailer to a single shipper.
What is less-than-truckload (LTL) shipping?
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LTL shipping consolidates freight from multiple customers onto the same truck, so each shipper pays only for the portion of the trailer it uses. It is a high-fixed-cost, density-driven business where profitability improves as more freight flows through an established terminal network.
Is Saia profitable?
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Yes. Saia has been consistently profitable, with trailing net income around $320M and trailing revenue near $3.2B. Its margins have been pressured recently by soft freight demand and the cost of ramping newly opened terminals, keeping its operating ratio elevated near 91%.
How does Saia compare to Old Dominion?
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Old Dominion is the larger and historically more profitable LTL pure-play, with roughly twice Saia's revenue and industry-leading operating ratios. Saia is the faster-growing challenger, expanding its terminal footprint aggressively while working to close the margin gap with Old Dominion.
Why is Saia's operating ratio important?
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The operating ratio is operating expenses divided by revenue, so a lower number means higher margins. In LTL it is the key profitability gauge. Saia's ratio has been elevated (near 91% in Q1 2026) because new terminals run at higher costs until they mature, and management is targeting improvement as volumes rise.
How did Yellow's collapse affect Saia?
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Yellow's 2023 bankruptcy removed a major LTL competitor and freed up freight and terminals across the industry. Saia was among the most active buyers of Yellow's former terminals, using them to accelerate its national expansion, and the reduced competition has supported firmer LTL pricing.
What are the main risks to Saia's business?
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The biggest risks are the freight cycle, since volumes and pricing fall in an industrial slowdown, and the cost of Saia's heavy terminal-expansion program, which drags on margins before generating full revenue. A premium stock valuation, intense competition, and fuel and labor costs add further volatility.
Does Saia pay a dividend?
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Saia has historically not paid a dividend, instead reinvesting cash flow into terminal expansion, equipment, and technology to fund growth. Investors in the stock have therefore relied on share-price appreciation rather than income. Dividend policy can change, so check the latest company disclosures.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Saia, Inc.'s investor relations page or your broker before making investment decisions.