WERNER ENTERPRISES INC WERN

Industrials SIC 4213 - Trucking (No Local) Nasdaq

We are a transportation and logistics company engaged primarily in transporting truckload shipments of general commodities in both interstate and intrastate commerce. We also provide logistics services through our Werner Logistics segment. We believe we are one of the largest truckload carriers in the United States (based on total operating revenues), and our headquarters are located in Omaha, Nebraska, near the geographic center of our truckload service area. We were founded in 1956 by Clarence L. Werner, who started the business with one truck at the age of 19. We were incorporated in the State of Nebraska in September 1982 and completed our initial public offering in June 1986 with a fleet of 632 trucks as of February 1986. At the end of 2025, our Truckload Transportation Services ("TTS") segment had a fleet of 7,100 trucks, of which 6,785 were company-operated and 315 were owned and operated by independent contractors. Our Werner Logistics segment operated an additional 27 drayage company trucks and 170 Final Mile delivery trucks at the end of 2025. We have historically grown organically, and more recently through a combination of organic growth and business acquisitions (discussed below). Our business acquisitions expanded our fleet size, customer base, geographic market presence, and network of operational facilities. We remain open to considering acquisitions in North America truckload and logistics companies that are both additive to our business and accretive to our earnings.

Last close 40.04 2026-09-04
Market cap $2.40B 2026-06-30 share count
52-week range 23.06 - 47.49

Valuation FY2025 figures against the last close

P/S0.8x
P/E
P/FCF
EV/EBITDA10.7x
Dividend yield1.4%
Diluted EPS-0.24

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.90B$2.96B$3.20B$3.22B$2.73B$2.37B$2.46B$2.46B$2.12B$2.01B
Total operating expenses $2.96B$2.96B$3.11B$2.97B$2.43B$2.14B$2.24B$2.23B$1.97B$1.88B
Operating income $11.7M$66.1M$176.4M$323.1M$309.1M$227.4M$225.5M$224.2M$143.8M$126.1M
Interest expense $39.1M$39.2M$33.5M$11.8M$4.4M$4.2M$6.9M$2.7M$2.2M$2.6M
Pre-tax income -$20.8M$42.5M$147.8M$324.8M$346.0M$224.7M$221.9M$223.9M$144.6M$127.5M
Income tax $2.2M$8.9M$35.5M$79.2M$84.5M$55.6M$55.0M$55.7M$58.3M$48.3M
Net income -$14.4M$34.2M$112.4M$241.3M$259.1M$169.1M$166.9M$168.1M$202.9M$79.1M
EPS, basic -0.240.551.773.763.842.452.402.352.811.10
EPS, diluted -0.240.551.763.743.822.442.382.332.801.09
Shares, diluted (wtd. avg.) $60.6M$62.7M$63.7M$64.6M$67.9M$69.4M$70.0M$72.1M$72.6M$72.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $59.9M$40.8M$61.7M$107.2M$54.2M$29.3M$33.4M$33.9M$15.1M$17.5M
Receivables $394.9M$391.7M$444.9M$518.8M$460.5M$341.1M$322.8M$337.9M$304.2M$261.4M
Inventory $12.1M$14.2M$18.1M$14.5M$11.1M$12.1M$9.2M$10.1M$11.7M$12.8M
Total current assets $612.8M$541.8M$634.6M$762.6M$631.2M$456.9M$466.3M$456.7M$400.2M$373.1M
Property, plant and equipment $1.79B$1.93B$1.97B$1.83B$1.61B$1.54B$1.53B$1.49B$1.35B$1.36B
Goodwill $129.1M$129.1M$129.1M$132.7M$74.6M$0
Other intangibles $44.6M$76.4M$86.5M$81.5M$55.3M$0
Total assets $2.89B$3.05B$3.16B$3.10B$2.60B$2.16B$2.14B$2.08B$1.81B$1.79B
Accounts payable $95.1M$112.4M$136.0M$124.5M$94.0M$83.3M$94.6M$97.8M$73.8M$66.6M
Short-term debt $0$20.0M$2.5M$6.2M$5.0M$25.0M
Total current liabilities $314.8M$355.7M$330.6M$309.5M$268.7M$274.0M$308.8M$310.4M$232.2M$214.9M
Long-term debt $752.0M$630.0M$646.2M$687.5M$422.5M$175.0M
Total liabilities $1.50B$1.56B$1.59B$1.61B$1.24B$961.6M
Retained earnings $1.90B$1.95B$1.95B$1.88B$1.67B$1.44B$1.29B$1.41B$1.27B$1.08B
Total equity $1.36B$1.46B$1.53B$1.44B$1.33B$1.20B$1.11B$1.26B$1.18B$994.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $181.8M$329.7M$474.4M$448.7M$332.8M$445.9M$426.6M$418.2M$282.8M$309.7M
Depreciation and amortisation $276.3M$280.3M$289.2M$273.8M$265.8M$263.3M$249.5M$230.2M$217.6M$209.7M
Stock-based compensation $10.7M$8.9M$11.9M$12.5M$10.8M$8.9M$8.1M$7.4M$4.5M$2.4M
Capital expenditure $250.4M$413.8M$598.8M$507.3M$370.9M$413.1M$420.7M$519.9M$316.3M$537.8M
Investing cash flow -$171.6M-$241.4M-$434.9M-$514.3M-$397.3M-$263.3M-$272.3M-$331.4M-$183.8M-$410.3M
Financing cash flow $7.3M-$105.7M-$87.1M$118.0M$89.7M-$186.0M-$155.2M-$67.6M-$101.4M$83.4M
Dividends paid $34.1M$35.1M$34.2M$32.2M$29.1M$24.9M$286.2M$23.0M$18.8M$17.3M
Buybacks $55.6M$67.1M$0$110.4M$104.4M$56.5M$42.3M$72.2M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000793074-26-000071.

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