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All California loans made or arranged pursuant to a California Finance Lenders Law License, CA Finance Lenders License – 60DBO46224 Copyright © 2020 eCapital. All Rights Reserved. eCapital is registered Trademark. Registration Number: 5,098,285

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Cost-per-mile-calculator

Step 1 of 5

20%

  • HOW TO USE THIS CALCULATOR


    In order to operate profitably trucking companies must first know their “all-in” cost-per-mile (CPM). Knowing this cost, is the only way to set a freight rate that will generate enough revenue to pay costs and generate a profit.

    Enter your trucking company’s costs in each of the following fields to calculate CPM. Perform your CPM calculation on a regular basis, at least once per month should be the minimum. Be careful to include all costs, but ensure you don’t duplicate costs by including any one expense in more than one field. To calculate your trucking company's unique cost-per-mile, you must consider both fixed costs and variable costs.

    NOTE: costs are to reflect the period you are reporting (ie: one week, one month, one year)

  • ENTER DATA IN FIELDS:
    Use the data from your company’s accounting books and tax preparation reports to enter data in the fields below. Enter numerical values only (do not enter “$”).
    COST CONVERSIONS:
    Monthly Costs =Annual Cost / 12
    Weekly Costs = Annual Cost / 52
    Weekly Costs = Monthly Cost x12 / 52

  • ENTER YOUR FIXED COSTS

    Fixed costs are static expenses that your company must pay whether your trucks are hauling a load or sitting idle in the yard. Fixed costs include expenses like insurance, property leases, permits and other services. We've included sample monthly fixed cost numbers in each field below. To calculate your company's unique CPM change each value to reflect your company’s actual costs.
  • If you are making lease or loan payments on your truck, then you can enter that expense here. Otherwise, you can enter “0”.
  • If you are making lease or loan payments on your trailer, then you can enter that expense here. Otherwise, you can enter “0”.
  • You can include your truck insurance, health insurance, and drug and alcohol testing expenses here.
  • You can include your annual vehicle inspection, IRP renewal, tractor & trailer registrations, driver's license renewal, state business annual report, UCR and HUVT 2290 expenses here. To get your monthly expenses, just divide the total by 12.
  • You can include your home office expenses or commercial office rent/mortgage payments,. Plus any office personnel wages, supplies, office equipment, utility costs, office phone.
  • You can include your load board, association membership, website marketing expenses, recruiting fees and expenses.
  • You can add your monthly ELD and home parking expenses.
  • You can include your cell phone, landline, and internet expenses here.
  • You can include your accounting software, Amazon Prime or Netflix expenses here.
  • You can include training costs, special event costs and any other miscellaneous expenses.

  • ENTER YOUR Variable Costs

    Variable costs are related directly to the operating of trucks. These expenses include fuel, maintenance, repairs, meals, lodging and other costs incurred while on the road. We've included sample monthly variable cost numbers in each field below. To calculate your company's unique CPM change each value to reflect your company’s actual costs.
  • You can include what you pay your drivers here. If you are an owner-operator, then include your pay here.
  • You can include gross fuel receipts, including taxes and additives minus any fuel surcharge generated for the same period of time.
  • You can include your tires, truck maintenance, truck washes, truck supplies, fuel additives, cleaning supplies, small tools, gloves or sunglasses expenses here.
  • You can include simple/large repairs, body work or corrective action expenses here.
  • You can include all state and federal taxes plus your quarterly IFTA tax. Divide annual taxes by 12 and quarterly taxes by 3 to get a monthly tax amount.
  • You can include hotel/lodging, meals, shower, tolls, fines and paid parking while on the road.
  • You can include lumper fees. broker fees, collection fees, quick pay, advance or factoring fees and any professional services you engaged.
  • You can include any other expenses that you incur while on the road.

  • ENTER YOUR REVENUE & MILES

    To determine your CPM and profits, please enter your monthly revenue and total miles driven.
  • You can add up all your invoices and enter it here.
  • You should maintain a driver’s log book (ELD) that includes the date and total miles driven within a 24-hour period.

  • YOUR RESULTS


    The fields below display the calculation results from your entered data.

  • How Did You Do?

    The two most important financial goals in trucking is to improve profits and maintain positive cash flow to keep your trucks moving. Is your CPM less than your Rate per Mile? The greater the difference, the greater the profits.

    How to Improve Profits


    Tip #1: The most effective way to increase your profit is to reduce your highest variable costs. Negotiate better rates with suppliers. Keep tabs on fuel pricing, supply and demand trends, and other influencers so you are prepared when negotiating rates.

    Tip #2: Provide superior customer service and build relationships with brokers and shippers that offer the best paying loads.

    Tip #3: Be flexible. Consider niche freight or lanes that pay higher rates.

    Learn more about how to improve profits

    How to Improve Cash Flow

    The fastest, easiest way to create and maintain positive cash flow is to factor your invoices to gain immediate access to working capital.

    Learn more about Freight Factoring
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