Financial research concept

Freight Broker Adjusted Gross Profit Margin

Freight broker adjusted gross profit margin divides adjusted gross profit by total revenue to show how much customer revenue remains after purchased transportation and related direct costs.

By Lee BaileyPublished Sep 25, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 25, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 19 connected conceptsPart of the reviewed Freight Brokerage & Forwarding Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

C.H. Robinson example
Why the margin moves
Investor use
Source
Part of the Freight Brokerage & Forwarding Economics
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Freight broker adjusted gross profit margin measures adjusted gross profit as a percentage of total revenue.

A simplified form is:

adjusted gross profit margin = adjusted gross profit ÷ total revenue

C.H. Robinson example

C.H. Robinson reported a 16.8% adjusted gross profit margin in 2025, compared with 15.6% in 2024.

The company treats adjusted gross profit as a primary performance measure because it reflects the spread retained after third-party transportation and sourcing costs.

Why the margin moves

The margin can change because of:

customer pricing;
contracted carrier costs;
fuel surcharges;
modal mix;
spot versus contractual freight conditions;
forwarding rate volatility; and
service mix.

A rising margin does not necessarily mean total profit is rising if shipment volume falls or operating expenses increase.

Investor use

Read the margin with absolute adjusted gross profit, service-line volumes, and operating income.

It is an issuer-defined non-GAAP margin, not a standardized transportation-industry gross margin.

Source

C.H. Robinson 2025 Form 10-K

Part of the Freight Brokerage & Forwarding Economics

Connect customer freight activity, purchased transportation, brokerage spread, surface-transport pricing, capacity signals, and forwarding volume and profit to understand asset-light logistics economics.

Browse the full operating model in Company Analysis →

Where this concept fits

Network activity, purchased capacity, and retained spreadCurrent relationship
Shipments managed, freight under management, and contract-carrier scale describe the activity and sourcing network. Purchased transportation is the principal direct capacity cost, while adjusted gross profit and adjusted gross profit margin show the spread retained after buying transportation.
Freight Broker Adjusted Gross ProfitAdjusted Gross Profit MarginCurrent conceptContract Carrier Network Freight Under Management Purchased Transportation Cost Shipments Managed
North American surface pricing, volume, and capacity
Truckload and LTL volume show transaction activity, service-line adjusted gross profit shows retained economics, and customer-versus-carrier linehaul changes frame the truckload pricing spread. Routing-guide depth adds a capacity signal by showing how far a managed load moves through preferred carrier options before acceptance.
LTL Adjusted Gross Profit Broker LTL Volume Growth Routing Guide Depth Truckload Adjusted Gross Profit Carrier Linehaul Cost per Mile Customer Linehaul Rate per Mile Broker Truckload Volume Growth
Global forwarding volume and adjusted gross profit
Ocean, air, and customs volume changes show forwarding activity, while the matching adjusted gross profit measures show whether retained economics move with or diverge from volume as carrier rates, trade conditions, and service mix change.
Air Adjusted Gross Profit Air Volume Growth Customs Adjusted Gross Profit Customs Volume Growth Ocean Adjusted Gross Profit Ocean Volume Growth

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

CHRWOpen operating-model research →19 of 19 reviewed concepts in Freight Brokerage & Forwarding EconomicsNetwork activity, purchased capacity, and retained spread6 of 6 bridge concepts supportedContinue through this bridge:Contract Carrier Network Freight Broker Adjusted Gross Profit Freight Under Management Purchased Transportation Cost Shipments Managed

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