Is Landstar System, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Landstar System, Inc. moved from very expensive to fair. The company appears to be fairly valued at this time. Key ratios include a P/E ratio of 51, a Price to Book Value of 9.79, and an EV to EBITDA of 32.57. In comparison, J.B. Hunt Transport Services, Inc. has a higher P/E of 40.85 and an EV to EBITDA of 15.49, while Knight-Swift Transportation Holdings, Inc. shows a P/E of 45.62 and a significantly lower EV to EBITDA of 8.11.
Despite the recent fair valuation, Landstar has underperformed against the S&P 500, with a year-to-date return of -24.31% compared to the index's 13.30%. Over the past three years, Landstar's return of -10.84% starkly contrasts with the S&P 500's impressive 81.19%, indicating potential concerns regarding its growth prospects.