--- title: "J.B. Hunt: Business Model" description: "J.B. Hunt revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/j-b-hunt/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # J.B. Hunt: Business Model & Revenue Engine ## Direct Answer J.B. Hunt reports revenue across 5 business segments in its fiscal 2025 Form 10-K. JBI is the largest, with $6.0 billion of revenue (50% of the total), followed by DCS at $3.4 billion (28%). ## How Does J.B. Hunt Make Money? No single line supplies a majority of revenue: the largest, JBI, is 50%, which spreads J.B. Hunt's exposure across several demand drivers. Between fiscal 2024 and 2025, JBT grew fastest (+4.6%) and FMS slowest (-9.5%), so the revenue mix tilts toward JBT while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | JBI | $6.0 billion | $6.0 billion | 49.8% | 0.3% | | DCS | $3.4 billion | $3.4 billion | 28.1% | -0.6% | | ICS | $1.1 billion | $1.1 billion | 9.2% | -2.8% | | FMS | $824 million | $910 million | 6.9% | -9.5% | | JBT | $734 million | $702 million | 6.1% | 4.6% | ![Bar chart of J.B. Hunt revenue by segment for fiscal 2025: JBI 49.8%, DCS 28.1%, ICS 9.2%, FMS 6.9%, JBT 6.1%.](https://www.getswoopr.com/images/charts/j-b-hunt-business-model-segment-mix.webp) *J.B. Hunt revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## Which J.B. Hunt Segments Earn the Most? | Segment | FY2025 segment operating income | Segment margin | | --- | --- | --- | | JBI | $450 million | 7.5% | | DCS | $377 million | 11.2% | | ICS | -$10 million | -0.9% | | FMS | $27 million | 3.3% | | JBT | $21 million | 2.9% | Segment operating income is the profit measure J.B. Hunt reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within J.B. Hunt more safely than against another company. ## What Does J.B. Hunt Sell? J.B. Hunt also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business. | Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Service Excluding Fuel Surcharge | $10.5 billion | $10.6 billion | 87.7% | -0.3% | | Fuel Surcharge | $1.5 billion | $1.5 billion | 12.3% | -3.5% | ## What the Segment Figures Do Not Show The rows above add up to 100% of J.B. Hunt's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value J.B. Hunt reported in the segment note and revenue disclosures of its Form 10-K filed February 24, 2026 (accession 0001437749-26-005294), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are J.B. Hunt's business segments? In its fiscal 2025 Form 10-K, J.B. Hunt reports revenue for JBI, DCS, ICS, FMS and JBT. ### Which part of J.B. Hunt brings in the most revenue? JBI, with $6.0 billion of revenue in fiscal 2025, or 50% of the total. ### Where does J.B. Hunt report its segment results? In the segment note to the financial statements in its Form 10-K, most recently filed February 24, 2026, alongside management's discussion of each segment's results. ## References - [SEC EDGAR: HUNT J B TRANSPORT SERVICES INC Form 10-K filed February 24, 2026](https://www.sec.gov/Archives/edgar/data/728535/000143774926005294/jbht20251231_10k.htm) - [SEC EDGAR: HUNT J B TRANSPORT SERVICES INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=728535&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [J.B. Hunt company dossier](https://www.getswoopr.com/stocks/companies/j-b-hunt/) - [J.B. Hunt financial metrics](https://www.getswoopr.com/stocks/companies/j-b-hunt/metrics/) - [J.B. Hunt financial risk indicators](https://www.getswoopr.com/stocks/companies/j-b-hunt/risks/) - [J.B. Hunt peer comparison](https://www.getswoopr.com/stocks/companies/j-b-hunt/competitors/) - [J.B. Hunt business model and revenue mix](https://www.getswoopr.com/stocks/companies/j-b-hunt/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).