J.B. Hunt Transport Services, Inc. (JBHT)

J.B. Hunt moves containers by rail and by lorry — a combination cheaper than trucking alone.

The main line is intermodal: a container covers the long haul by rail while lorries handle the first and last miles. That is cheaper and more fuel-efficient, but requires an owned container fleet and arrangements with the railways, of which there are few.

The second line is dedicated fleets: the company takes over a customer's transport entirely, providing drivers and vehicles for its needs under a multi-year contract. That income is steady and independent of spot rates, which in this industry swing several times over. Risks: excess capacity in the freight market, fuel and railway reliability. The company pays a dividend.