Werner Enterprises Inc. (WERN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$0.23	$0.22	-4.3%	—	—	—
Q4 26	-$0.06	$0.02	+133.3%	—	—	—
Q3 26	$0.11	$0.05	-54.5%	—	—	—
Q2 26	$0.13	-$0.03	-123.1%	—	—	—
Q1 26	$0.05	$0.11	+120.0%	—	—	—
Q4 25	$0.12	-$0.12	-200.0%	—	—	—
Q3 25	$0.22	$0.08	-63.6%	—	—	—
Q2 25	$0.21	$0.15	-28.6%	—	—	—
Q1 25	$0.2	$0.17	-15.0%	—	—	—
Q4 24	$0.27	$0.14	-48.1%	—	—	—
Q3 24	$0.44	$0.39	-11.4%	—	—	—
Q2 24	$0.49	$0.42	-14.3%	—	—	—
Q1 24	$0.59	$0.52	-11.9%	—	—	—
Q4 23	$0.71	$0.6	-15.5%	—	—	—
Q3 23	$0.92	$0.99	+7.6%	—	—	—
Q2 23	$0.97	$0.9	-7.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.24	—	—	$3B	—
FY24	—	$0.55	—	—	$3B	—
FY23	—	$1.77	—	—	$3.3B	—
FY22	—	$3.82	—	—	$3.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2B	$2.1B	$2.5B	$2.5B	$2.4B	$2.7B	$3.3B	$3.3B	$3B	$3B
YoY change	-4.04%	+5.36%	+16.1%	+0.24%	-3.71%	+15.3%	+20.3%	-0.2%	-7.71%	-1.84%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2B	2.1B	2.5B	2.5B	2.4B	2.7B	3.3B	3.3B	3B	3B
Cost of revenue	1.7B	1.8B	2B	2B	1.9B	2.3B	2.8B	2.9B	2.7B	2.7B
Gross profit	324.4M	344.9M	418.1M	427.4M	460.9M	477.9M	521.6M	423.7M	338.6M	288.4M
Gross margin	16.1%	16.3%	17%	17.3%	19.4%	17.5%	15.9%	12.9%	11.2%	9.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	100M	96M	114.2M	104.2M	124.3M	112.1M	163.2M	157M	162.6M	131.9M
Operating expenses	112.8M	114.3M	106.5M	106.4M	137.7M	72.7M	100.6M	144.6M	175.3M	142.1M
Operating income	126.1M	143.8M	224.2M	225.5M	227.4M	309.1M	323.1M	176.4M	66.1M	55.9M
Operating margin	6.28%	6.79%	9.12%	9.15%	9.59%	11.3%	9.82%	5.37%	2.18%	1.88%
Non-operating income, net	-191K	-328K	-376K	-38K	-163K	40.1M	11.8M	-1.8M	8.6M	-43.3M
Pretax income	127.5M	144.6M	223.9M	221.9M	224.7M	346M	324.8M	147.8M	42.5M	-20.8M
Income tax	48.3M	-58.3M	55.7M	55M	55.6M	84.5M	79.2M	35.5M	8.9M	2.2M
Net income	79.1M	202.9M	168.1M	166.9M	169.1M	261.5M	245.6M	112.3M	33.6M	-23M
Net margin	3.94%	9.58%	6.84%	6.78%	7.13%	9.56%	7.46%	3.42%	1.11%	-0.77%
EBITDA	339.8M	364.4M	456.7M	478.3M	492.2M	577.8M	604.3M	481.1M	364.2M	348.9M
EPS	1.1	2.8	2.39	2.41	2.49	3.97	3.82	1.77	0.55	-0.24
Diluted EPS	1.09	2.8	2.33	2.38	2.44	3.82	3.74	1.76	0.55	-0.24

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	817.7M	821.9M	769.1M	760.8M	745.7M	754.7M	712.1M	753.1M	771.5M	737.6M	808.6M	933.9M
Cost of revenue	717.7M	718.5M	683M	676.8M	668M	663.8M	642.5M	672.1M	713.6M	657.7M	727.2M	836.2M
Gross profit	100M	103.4M	86.1M	84M	77.7M	90.9M	69.6M	81M	57.9M	79.9M	81.4M	97.7M
Gross margin	12.2%	12.6%	11.2%	11%	10.4%	12%	9.77%	10.8%	7.51%	10.8%	10.1%	10.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	35.8M	38.5M	41.1M	36M	31.9M	53.6M	48.1M	3.7M	42M	44.8M	46.5M	46.3M
Operating expenses	36.2M	39.5M	45.3M	38.9M	36.5M	54.5M	53.1M	-1.6M	47.8M	49.7M	54.6M	53.3M
Operating income	37.9M	37.9M	15.6M	19.6M	17.6M	13.4M	-5.8M	59.5M	-13M	8.4M	4M	21M
Operating margin	4.63%	4.61%	2.03%	2.58%	2.36%	1.77%	-0.82%	7.9%	-1.69%	1.14%	0.49%	2.25%
Non-operating income, net	-428K	-434K	-10K	-223K	208K	8.7M	489K	7.4M	-311K	-44.1M	210K	-3.6M
Pretax income	30.5M	30.2M	9.3M	12.1M	8.5M	12.5M	-13.4M	59.1M	-21.9M	-44.6M	-5.9M	7.3M
Income tax	7M	7M	3.1M	2.9M	2M	910K	-3.2M	15.5M	-822K	-9.3M	-1.5M	2M
Net income	23.5M	23.2M	6.2M	9.2M	6.5M	11.6M	-10.2M	43.6M	-21.1M	-35.3M	-4.5M	5.3M
Net margin	2.87%	2.83%	0.81%	1.21%	0.88%	1.53%	-1.44%	5.79%	-2.73%	-4.79%	-0.55%	0.57%
EBITDA	113.8M	115M	91.7M	93.9M	91.3M	87.3M	66.2M	127.9M	51.2M	83.3M	90.6M	115.4M
EPS	0.37	0.37	0.1	0.15	0.11	0.19	-0.16	0.74	-0.34	-0.46	-0.07	0.11
Diluted EPS	0.37	0.37	0.1	0.15	0.11	0.19	-0.16	0.72	-0.34	-0.46	-0.07	0.11

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.9B	2.8B	2.1B	2.5B	2.7B	3.1B	2.5B	2.7B	2.2B	1.8B	2B
Enterprise value	2.1B	2.9B	2.2B	2.8B	2.8B	3.5B	3.1B	3.3B	2.8B	2.5B	2.9B
Shares outstanding	72.2M	72.4M	70.4M	69.2M	67.9M	65.8M	63.2M	63.4M	61.9M	59.9M	59.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	24.6	13.8	12.4	15.1	15.8	12	10.4	23.9	66.2	—	84.8
P/S	0.97	1.32	0.85	1.02	1.12	1.15	0.77	0.82	0.73	0.6	0.62
P/B	1.96	2.36	1.65	2.27	2.23	2.3	1.72	1.72	1.49	1.29	1.48
EV/EBITDA	6.2	7.91	4.76	5.84	5.76	6.07	5.18	6.81	7.77	7.13	8.55
EV/Sales	1.05	1.36	0.88	1.13	1.2	1.28	0.95	1	0.93	0.84	0.9
Earnings yield	4.07%	7.25%	8.08%	6.63%	6.35%	8.34%	9.65%	4.18%	1.51%	—	1.18%
FCF yield	-11.7%	-1.2%	-4.89%	0.23%	1.23%	-1.21%	-2.3%	-4.63%	-3.78%	-3.81%	3.46%
PEG	—	—	—	—	—	—	—	—	—	—	-0.99

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	16.1%	16.3%	17%	17.3%	19.4%	17.5%	15.9%	12.9%	11.2%	9.7%	10.5%
Operating margin	6.28%	6.79%	9.12%	9.15%	9.59%	11.3%	9.82%	5.37%	2.18%	1.88%	2.59%
Net margin	3.94%	9.58%	6.84%	6.78%	7.13%	9.56%	7.46%	3.42%	1.11%	-0.77%	-1.42%
ROE	7.95%	17.1%	13.3%	15%	14.1%	19.2%	16.6%	7.17%	2.25%	-1.65%	-3.91%
ROA	4.41%	11.2%	8.07%	7.79%	7.84%	10%	7.93%	3.56%	1.1%	-0.8%	0.85%
ROIC	6.76%	11.3%	12.4%	12.3%	12.5%	13.5%	11.8%	6.22%	2.49%	2.68%	0.9%
Return on tangible assets	4.41%	11.2%	8.07%	7.79%	7.84%	11.2%	9.2%	4.12%	1.27%	-0.9%	-2.01%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.74	1.72	1.47	1.51	1.67	2.35	2.46	1.92	1.52	1.95	1.45
Quick ratio	1.68	1.67	1.44	1.48	1.62	2.31	2.42	1.87	1.48	1.91	1.42
Debt / equity	0.18	0.08	0.1	0.27	0.17	0.31	0.47	0.41	0.44	0.54	0.68
Debt / assets	0.1	0.05	0.06	0.14	0.09	0.16	0.22	0.21	0.21	0.26	0.3
Net debt / EBITDA	0.48	0.23	0.2	0.57	0.35	0.65	0.97	1.22	1.67	1.98	2.61
Interest coverage	50.5	65.4	84.1	33.4	54.3	79.2	28.5	5.41	2.08	0.47	-0.5
Effective tax rate	37.9%	0%	24.9%	24.8%	24.8%	24.4%	24.4%	24%	21%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	27.8	29.2	34.9	35.6	34.9	41.6	52	51.8	49	49.7	54.3
EPS (basic)	1.1	2.8	2.39	2.41	2.49	3.97	3.82	1.77	0.55	-0.24	-0.24
EPS (diluted)	1.09	2.8	2.33	2.38	2.44	3.82	3.74	1.76	0.55	-0.24	-0.76
Book value per share	13.8	16.4	18	16	17.6	20.7	23.4	24.7	24.2	23.2	22.6
FCF per share	-3.16	-0.46	-1.44	0.09	0.48	-0.58	-0.93	-1.96	-1.36	-1.14	0.89
Cash per share	0.24	0.19	0.48	0.38	0.43	0.82	1.7	0.97	0.66	1	0.95
Capex per share	5.95	2.75	4.95	4.1	3.92	2.93	5.02	6.44	3.8	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	21.4%	9.39%	14.2%	11.5%	11.2%	7.06%	9.65%	12.4%	7.75%	—	—
Capex / operating cash flow	131.7%	68.7%	78.8%	63.3%	58.2%	44.5%	57.8%	79.3%	66.4%	—	—
Payout ratio	21.8%	9.26%	13.7%	171.4%	14.7%	11.1%	13.1%	30.5%	104.5%	-148.2%	136.6%
Dividend yield	0.89%	0.67%	1.11%	11.4%	0.93%	0.93%	1.26%	1.27%	1.58%	1.9%	1.67%

Yield

1.67%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.14

ex-dividend Oct 5, 2026

Payout ratio

137%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Oct 5, 2026upcoming	$0.14
Jul 6, 2026	$0.14
Apr 13, 2026	$0.14

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$817.7M	$821.9M	$769.1M	$760.8M	$745.7M	$754.7M	$712.1M	$753.1M	$771.5M	$737.6M	$808.6M	$933.9M
YoY change	-1.19%	-4.59%	-7.64%	-6.2%	-8.81%	-8.18%	-7.41%	-1.01%	+3.46%	-2.26%	+13.6%	+24%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	17M	13.6M	33.9M	26.4M	29.3M	54.2M	107.2M	61.7M	40.8M	59.9M
Receivables	261.4M	304.2M	337.9M	322.8M	341.1M	460.5M	518.8M	444.9M	391.7M	394.9M
Inventory	12.8M	11.7M	10.1M	9.2M	12.1M	11.1M	14.5M	18.1M	14.2M	12.1M
Total current assets	373.1M	400.2M	456.7M	466.3M	456.9M	631.2M	762.6M	634.6M	541.8M	612.8M
Property, plant & equipment	1.4B	1.4B	1.5B	1.6B	1.3B	1.3B	1.5B	1.7B	1.6B	1.4B
Goodwill & intangibles	—	—	—	—	0	259.9M	428.4M	431.2M	411M	347.4M
Total assets	1.8B	1.8B	2.1B	2.1B	2.2B	2.6B	3.1B	3.2B	3.1B	2.9B
Accounts payable	66.6M	73.8M	97.8M	94.6M	83.3M	94M	124.5M	136M	112.4M	95.1M
Short-term debt	20M	21.5M	75M	75M	25M	5M	6.3M	2.5M	20M	—
Total current liabilities	214.9M	232.2M	310.4M	308.8M	274M	268.7M	309.5M	330.6M	355.7M	314.8M
Long-term debt	160M	75M	50M	225M	175M	422.5M	687.5M	646.3M	630M	752M
Total liabilities	798.2M	623.2M	818.8M	1B	961.6M	1.2B	1.6B	1.6B	1.6B	1.5B
Shareholders' equity	994.8M	1.2B	1.3B	1.1B	1.2B	1.4B	1.5B	1.6B	1.5B	1.4B
Total debt	180M	96.5M	125M	300M	200M	427.5M	693.8M	648.8M	650M	752M
Net debt	163M	82.9M	91.1M	273.6M	170.7M	373.3M	586.5M	587M	609.2M	692.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	42.8M	61.7M	60.3M	70.4M	54.7M	40.8M	52M	51.4M	51M	59.9M	61.5M	57M
Receivables	449.8M	444.9M	417.5M	410M	384M	391.7M	387.1M	420.5M	437.5M	394.9M	485.5M	490.9M
Inventory	17.3M	18.1M	17.2M	16.3M	15.4M	14.2M	13M	13.2M	11.5M	12.1M	14.4M	14.2M
Total current assets	644.8M	634.6M	597.3M	577.7M	547M	541.8M	538.7M	559.5M	604.8M	612.8M	702.9M	675.3M
Property, plant & equipment	-965.5M	1.7B	-982.8M	-992.1M	-1B	1.6B	-1B	-1.1B	-1.1B	1.4B	2.1B	2B
Goodwill & intangibles	436.2M	431.2M	426.1M	421.1M	416.1M	411M	406M	401M	395.9M	347.4M	407.5M	403M
Total assets	3.2B	3.2B	3.1B	3.1B	3.1B	3.1B	3B	2.9B	3B	2.9B	3.3B	3.2B
Accounts payable	129M	136M	136.2M	142.2M	164.4M	112.4M	113.4M	129.2M	147.3M	95.1M	137.5M	119.1M
Short-term debt	18.4M	2.5M	1.3M	10M	—	20M	—	—	—	—	84.1M	71.6M
Total current liabilities	329.7M	330.6M	314.1M	342.5M	357.7M	355.7M	323.6M	334.3M	373.7M	314.8M	481.9M	466.5M
Long-term debt	686.3M	646.3M	596.3M	660M	690M	630M	640M	725M	725M	752M	957.2M	873.4M
Total liabilities	1.6B	1.6B	1.5B	1.6B	1.6B	1.6B	1.5B	1.5B	1.5B	1.5B	1.9B	1.8B
Shareholders' equity	1.6B	1.6B	1.6B	1.5B	1.5B	1.5B	1.5B	1.5B	1.4B	1.4B	1.4B	1.4B
Total debt	704.7M	648.8M	597.5M	670M	690M	650M	640M	725M	725M	752M	1B	944.9M
Net debt	661.9M	587M	537.2M	599.6M	635.3M	609.2M	588M	673.6M	674M	692.1M	979.8M	887.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	79.1M	202.9M	168.1M	166.9M	169.1M	261.5M	245.6M	112.3M	33.6M	-23M
Depreciation & amortization	209.7M	217.6M	230.2M	249.5M	263.3M	267.7M	279.9M	299.5M	290.4M	286.3M
Stock-based compensation	2.4M	4.5M	7.4M	8.1M	8.9M	10.8M	12.5M	11.9M	8.9M	10.7M
Change in working capital	4.9M	-16.9M	-22.1M	-3.6M	9.1M	-138.3M	-25.5M	96.4M	83M	-48.2M
Operating cash flow	326.1M	289.6M	443.1M	448.2M	457.2M	433.7M	549.5M	515.5M	353.6M	181.8M
Capital expenditure	-429.6M	-198.8M	-349M	-283.9M	-266.2M	-193M	-317.6M	-408.7M	-234.9M	—
Investing cash flow	-410.3M	-183.8M	-331.4M	-272.3M	-263.3M	-397.3M	-514.3M	-434.9M	-241.4M	-8.8M
Dividends paid	-17.3M	-18.8M	-23M	-286.2M	-24.9M	-29.1M	-32.2M	-34.2M	-35.1M	-34.1M
Share repurchases	0	0	-72.2M	-42.3M	-56.5M	-104.4M	-110.4M	0	-67.1M	-55.6M
Financing cash flow	63M	-148.9M	-108.1M	-155.4M	-276M	62.2M	114.3M	-137.1M	-198.2M	-50.7M
Net change in cash	-21.2M	-43.1M	3.6M	20.5M	-82.1M	98.5M	149.4M	-56.5M	-86.1M	122.3M
Free cash flow	-228.2M	-33.5M	-101.7M	5.9M	32.8M	-38M	-58.5M	-124.4M	-84.1M	-68.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	23.5M	23.2M	6.2M	9.2M	6.5M	11.6M	-10.2M	43.6M	-21.1M	-35.3M	-4.5M	5.3M
Depreciation & amortization	74.6M	75.7M	74.3M	72.7M	71.6M	71.9M	70M	66.3M	63.2M	73.3M	84.9M	92.3M
Stock-based compensation	2.4M	3.3M	2.3M	2.4M	2.5M	1.8M	2.4M	2.5M	2.8M	3M	2.8M	3.3M
Change in working capital	-27.7M	35.8M	13.4M	53.6M	841K	15.1M	-3.8M	-15.8M	-9.8M	-8.1M	14.3M	-13.6M
Operating cash flow	83.2M	121.1M	91.9M	111.6M	63.9M	86.2M	32.3M	46M	44.1M	62.3M	83.5M	83.8M
Capital expenditure	-120M	-34.5M	-19M	-99.2M	-87.9M	-28.8M	7.6M	—	—	—	—	—
Investing cash flow	-121.7M	-32.9M	-19.4M	-100M	-87.1M	-35M	2.4M	-664K	-607K	-2.4M	-192M	-2.4M
Dividends paid	-8.9M	-8.9M	-8.9M	-8.9M	-8.7M	-8.7M	-8.7M	-8.7M	-8.4M	-8.4M	-8.4M	-8.4M
Share repurchases	0	0	-6.5M	-60.5M	0	17K	0	-55.6M	0	9K	—	—
Financing cash flow	14.2M	-83.3M	-92M	-8.2M	-28.7M	-69.3M	-30.5M	18.7M	-34.1M	-4.8M	100.1M	-245.9M
Net change in cash	-24.3M	4.9M	-19.5M	3.3M	-51.8M	-18.1M	4.2M	64.1M	9.4M	55.2M	-8.5M	-164.5M
Free cash flow	-94.5M	49.6M	30.4M	-31.2M	-73.4M	-9.8M	5.9M	-42.3M	-8.6M	-23.5M	30.7M	54.8M

Date	Ratio
Oct 1, 2003	5:4
Mar 15, 2002	4:3
May 14, 1998	5:4
Aug 12, 1996	3:2
Sep 22, 1992	2:1

Werner Enterprises Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history