It’s easy to get caught up in the day-to-day hustle: finding loads, keeping up with paperwork, and making sure the wheels keep turning. But there’s one thing that sets successful truckers apart—understanding the numbers behind the scenes.
KPIs (Key Performance Indicators) aren’t just business buzzwords; they’re the dashboard of your business, showing you where you’re on track and where you need to adjust. Tracking the right KPIs gives you the insights you need to stay profitable, avoid surprises, and build a business that lasts.
In this article, we’ll show you how tracking the right KPIs can turn uncertainty into opportunity—and help you thrive, not just survive. Let’s roll!
Numbers Tell a Story—Make Sure It’s the Right One
Running a trucking business without KPIs is like driving without a GPS. You might get there eventually, but you’ll probably waste time, money, and energy along the way.
Tracking your key numbers help you:
- Boost Profitability: Keep an eye on your cost per mile to spot creeping expenses that eat into your profits.
- Spot Inefficiencies: Too many empty miles? High maintenance costs? KPIs flag these issues so you can fix them before they hurt your bottom line.
- Plan for Growth: Knowing your numbers helps you make decisions based on facts—not just gut feelings.
Stay Ahead of Surprises
Unexpected repairs, fuel price hikes, and slow freight seasons can take a significant toll. KPIs like maintenance expense per mile (MAINT) or gross fuel per mile (GFEMIL) flag problems early—giving you time to plan repairs, adjust routes, or budget for new equipment.
When you notice rising maintenance costs, for example, it’s a sign to schedule preventive repairs or review your maintenance strategy before a breakdown sidelines your business.
Profitability is More than Revenue
It’s easy to look at your revenue and think you’re doing great. But what about your operating ratio (OPRAT)? This KPI compares your expenses to your revenue and shows if you’re actually turning a profit. Even a slight increase in costs can eat away at your bottom line. When you track OPRAT, you stay aware of how every dollar you spend affects your business.
Key KPIs Every Trucking Business Should Track
To get a clear picture of your business health, here are some essential KPIs to keep an eye on:
Service KPIs
- On-Time in Full (OTIF): measures the percentage of loads delivered complete and on time, without any problems or documentation issues. This KPI allows carriers to identify their service quality and reliability.
Distance KPIs
- Cost per Mile (CPM): Shows how much it costs to move a load for each mile driven. It’ll help you set rates that actually cover your costs and leave room for profit.
- Maintenance Expense per Mile (MAINT): It calculates the average cost of maintenance per mile. You can use it to see if your maintenance spending is under control. If it’s higher than average, there are some tough decisions to make about your truck or maintenance policy.
- Loaded Miles vs. Empty Miles (LOADM & EMPTY): Compares the miles driven with freight to those without—more loaded miles mean more revenue.
Operational KPIs
- Operating Ratio (OPRAT): Compares expenses to revenue—helps you understand how efficient your operation is and its profitability. A lower OPRAT means you’re keeping more of what you earn.
- Gross Fuel per Mile (GFEMIL) and Gross Fuel Expense (%) (GFEPCT): Tracks fuel efficiency and fuel costs as a percentage of revenue—key to managing your biggest variable expense.
KPIs put you in the driver’s seat. By monitoring these KPIs regularly, you’re not just looking at numbers—you’re taking control of your business’s health, improving efficiency, and planning for growth.
Making KPIs Work for You
The real value of KPIs lies in using them to inform decisions. Maybe you’ll find a truck that costs more than it earns. Or a route that always burns more fuel than it brings in. When you know your numbers, you can adjust your maintenance, renegotiate rates, or shift your strategy to stay profitable.
Don’t let the numbers scare you. KPIs aren’t just for big fleets with fancy software. Even if you’re a single truck owner-operator, tracking these numbers can put you in control. It’s about taking small steps to understand your business better—so you’re not just surviving, you’re thriving.
Summar Financial: A Partner in Growth
At Summar Financial, we know that success in trucking means staying on top of your numbers and cash flow. That’s why our freight factoring services give you fast, reliable payments—so you can cover expenses, pay drivers, and reinvest in your business without waiting weeks or months.
We’re more than just factoring. We’re your partner on the road to growth, with tools like fuel cards, ELD integrations, and real people ready to help you make sense of your finances.
Ready to put your business in the driver’s seat? Let’s talk.