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Werner Enterprises Inc (WERN) stock

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NASDAQ: WERN Nasdaq Cargo Ground Transportation Next results ~January 22, 2027

C Fundamentals grade

Werner Enterprises Inc is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$29

Valuation models combined (5)

Base case. Range ~$17–$44. Weighted average of 5 models (forward price-to-earnings vs peers, residual income, justified price-to-book, forward price-to-sales vs peers, revenue-to-maturity model).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Werner Enterprises Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds162 adding, 104 cuttingOf 45 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Werner Enterprises files

Where Werner Enterprises stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.25bn, up 9.6% on a year earlier, faster than the 3.3% growth a quarter earlier. That growth ranks 2 of 12 among the cargo ground transportation companies we cover. Free-cash-flow margin rose to 1.6% from -4.0% a year earlier. Operating margin narrowed to -0.9% from 3.1%. The diluted share count is down 2.9% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 22, 2027 (estimated)

Werner Enterprises Inc's trailing-twelve-month revenue grew 9.6% year on year, with a free-cash-flow margin of 1.6%. Where it stands out: change in growth rate of +6.4pp ranks 4 of 19 cargo ground transportation companies we cover. Where it lags: net margin of -1.4% ranks 16 of 18 cargo ground transportation companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 9.6% (+6.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 6.4 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 2.9% in a year, so each share owns more of the business.

Things to watch

  • Loss-making. Operating margin is -0.9%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 3.9 points on a year ago.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.4% ranks 12 of 15 cargo ground transportation companies we cover (median 0.3%).
  • Heavily shorted. 10.7% of the shares available to trade are sold short (5.8 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 15.3% over 90 days.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.16 against an average estimate of $0.16: beat by 2.3%
Revenue
$934m, up 24.0% on a year earlier
Share reaction
-4.2% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
October 27, 2026; average EPS estimate $0.25

Werner Enterprises' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.3%
  • 1 week+1.1%
  • 1 month-18.7%
  • This year-3.0%
  • 1 year+11.1%
  • 5 years-33.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.3B
Operating margin
-0.9%
Net margin
-1.4%
EPS (TTM, diluted)
$-0.77

Growth

Revenue growth
+9.6%
Change in growth rate
+6.4 pts
Share count change
−2.9%

Cash

Free cash flow (TTM)
$53.4M
FCF margin
1.6%
Stock pay % of revenue
0.4%

Earnings

Last results
October 27, 2026
Next results (est.)
January 22, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Results
  4. Agreement
  5. Leadership
  6. Announcement
  7. Announcement
  8. Announcement
  9. Announcement
  10. Announcement
  11. Dividend
  12. Announcement
  13. Leadership
  14. Announcement
  15. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Werner Enterprises Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Werner Enterprises Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$31 ~$28–$46 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$19 ~$13–$28 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$17 ~$15–$21 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$44 ~$52–$140 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$41 ~$30–$53 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$29 ~$17–$44 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Werner Enterprises Inc with Cargo Ground Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$18.28$21.27$30.76$23.74$33.13$36.12$44.33$37.94$40.44$34.69$29.53$28.63
Market value$1.3bn$1.5bn$2.2bn$1.7bn$2.3bn$2.5bn$3.0bn$2.5bn$2.6bn$2.2bn$1.8bn$1.7bn
+ Net debt (− = net cash)$43m$163m$61m$91m$274m$196m$373m$587m$587m$609m$692m$736m
Enterprise value$1.4bn$1.7bn$2.3bn$1.8bn$2.6bn$2.7bn$3.4bn$3.0bn$3.2bn$2.8bn$2.5bn$2.5bn
Multiples
Price / sales 0.6x0.8x1.1x0.7x0.9x1.1x1.1x0.7x0.8x0.7x0.6x0.5x
Price / earnings 10.7x19.5x11.0x10.2x13.9x14.8x11.6x10.2x22.9x63.5x——
Price / free cash flow ————n/m76.3x—————32.1x
EV / EBITDA 3.5x5.1x6.3x4.0x5.5x5.5x5.9x5.1x6.8x8.0x8.6x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

41 /100

Weak moat

How hard Werner Enterprises's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Net income has been a median 6.5% of total assets over 10 years.

  • Durability 1 / 20

    Operating margin has been a median 7.6%; its worst year was -0.9%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -1.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 12.9% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.65 +3367% $3.7bn +23%
Next $1.87 +186% $4.0bn +8%

Next year's EPS estimate has moved −15.3% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −39.9% on 90 days ago. In the last 30 days, 3 analysts raised Werner Enterprises Inc's forecast and 7 cut it.

Consensus EPS forecast Werner Enterprises Inc, last 90 days
$0.00 $1.00 $2.00 $3.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.09 Current fiscal year, 60 days ago: $1.09 Current fiscal year, 30 days ago: $1.09 Current fiscal year, 7 days ago: $0.79 Current fiscal year, Now: $0.65 $0.65 Next fiscal year, 90 days ago: $2.21 Next fiscal year, 60 days ago: $2.21 Next fiscal year, 30 days ago: $2.21 Next fiscal year, 7 days ago: $2.09 Next fiscal year, Now: $1.87 $1.87

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.09$2.21
60 days ago $1.09$2.21
30 days ago $1.09$2.21
7 days ago $0.79$2.09
Now $0.65$1.87

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.16 $0.16 +2.3%
Jun 2026 $0.23 $0.22 −4.4%
Mar 2026 −$0.06 $0.02 +132.1%
Dec 2025 $0.11 $0.05 −52.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

16 analysts, Oct 2026
Buy425%
Hold1063%
Sell213%

Monthly trend

  1. Oct 2026310216
  2. Sep 202649216
  3. Aug 202649216
  4. Jul 202649216

Counts of recommendations published by analysts covering Werner Enterprises Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.7%
of tradable shares
Days to cover
5.76
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.1%
of shares
Employees
14,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +11.1%

$25.78 on October 31, 2025 to $28.63

ThenNowEffect
Revenue (last 12 months) $3.0bn $3.3bn +9.6%
P/S multiple 0.5x 0.5x −1.7%
Share count 62m 60m +3.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −18.5%

$35.12 on November 3, 2023 to $28.63

ThenNowEffect
Revenue (last 12 months) $3.3bn $3.3bn −2.4%
P/S multiple 0.7x 0.5x −21.5%
Share count 64m 60m +6.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WERN+23%−14%+7%−14%−15%−3%
Industry peers (median)+38%−12%+16%−9%−12%+14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WERN67%33%42%42%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WERN−13%−24%−27%−19%−39%−42%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 51% from February 2, 2023 to November 20, 2025. Getting back needed a 105% gain, reached on July 21, 2026, 243 days after the low.

Price behaviour

52-week range
$22.78 – $47.10
From 52-week high
−39.2%
vs 50-day average
−16.0%
vs 200-day average
−20.0%
Volatility (1 year)
41%
Beta vs S&P 500
0.80

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±5.0%
After a week
2 up, 9 down
typical move ±5.9%
After a month
4 up, 6 down
typical move ±7.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −4.2% +0.9% — —
October 19, 2026 −9.2% +0.8% −13.7% —
July 28, 2026 −9.3% −1.3% −5.2% −3.8%
April 28, 2026 +6.6% −0.5% +1.6% +21.6%
February 5, 2026 −8.1% +0.6% −13.8% −17.5%
October 30, 2025 −2.6% −0.8% −4.8% −4.0%
July 29, 2025 −3.5% −0.4% −3.6% +0.8%
April 29, 2025 −12.1% +0.7% −10.2% −6.4%
February 6, 2025 −1.1% −0.6% −1.2% −7.7%
October 29, 2024 −2.3% −0.1% −0.2% +6.0%
July 30, 2024 −0.3% +1.1% −5.2% −5.0%
April 30, 2024 +1.3% −1.9% +5.2% +5.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Werner Enterprises Inc in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Werner Enterprises Inc
$2.9B $3B $3.1B $3.2B $3.3B $3.4B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.3B Revenue (TTM), FY23 Q4: $3.3B Revenue (TTM), FY24 Q1: $3.2B Revenue (TTM), FY24 Q2: $3.2B Revenue (TTM), FY24 Q3: $3.1B Revenue (TTM), FY24 Q4: $3B Revenue (TTM), FY25 Q1: $3B Revenue (TTM), FY25 Q2: $3B Revenue (TTM), FY25 Q3: $3B Revenue (TTM), FY25 Q4: $3B Revenue (TTM), FY26 Q1: $3.1B Revenue (TTM), FY26 Q2: $3.3B $3.3B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.3B
FY23 Q4 $3.3B
FY24 Q1 $3.2B
FY24 Q2 $3.2B
FY24 Q3 $3.1B
FY24 Q4 $3B
FY25 Q1 $3B
FY25 Q2 $3B
FY25 Q3 $3B
FY25 Q4 $3B
FY26 Q1 $3.1B
FY26 Q2 $3.3B
Revenue growth, TTM YoY Werner Enterprises Inc
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 4.0% Revenue growth, TTM YoY, FY23 Q4: -0.2% Revenue growth, TTM YoY, FY24 Q1: -4.1% Revenue growth, TTM YoY, FY24 Q2: -4.9% Revenue growth, TTM YoY, FY24 Q3: -6.8% Revenue growth, TTM YoY, FY24 Q4: -7.7% Revenue growth, TTM YoY, FY25 Q1: -7.7% Revenue growth, TTM YoY, FY25 Q2: -6.4% Revenue growth, TTM YoY, FY25 Q3: -3.4% Revenue growth, TTM YoY, FY25 Q4: -1.8% Revenue growth, TTM YoY, FY26 Q1: 3.3% Revenue growth, TTM YoY, FY26 Q2: 9.6% 9.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 4.0%
FY23 Q4 -0.2%
FY24 Q1 -4.1%
FY24 Q2 -4.9%
FY24 Q3 -6.8%
FY24 Q4 -7.7%
FY25 Q1 -7.7%
FY25 Q2 -6.4%
FY25 Q3 -3.4%
FY25 Q4 -1.8%
FY26 Q1 3.3%
FY26 Q2 9.6%
Operating margin (TTM) Werner Enterprises Inc
-2% 0% 2% 4% 6% 8% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 6.8% Operating margin (TTM), FY23 Q4: 5.4% Operating margin (TTM), FY24 Q1: 4.3% Operating margin (TTM), FY24 Q2: 3.5% Operating margin (TTM), FY24 Q3: 2.9% Operating margin (TTM), FY24 Q4: 2.2% Operating margin (TTM), FY25 Q1: 1.5% Operating margin (TTM), FY25 Q2: 3.1% Operating margin (TTM), FY25 Q3: 2.0% Operating margin (TTM), FY25 Q4: 0.4% Operating margin (TTM), FY26 Q1: 0.7% Operating margin (TTM), FY26 Q2: -0.9% -0.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 6.8%
FY23 Q4 5.4%
FY24 Q1 4.3%
FY24 Q2 3.5%
FY24 Q3 2.9%
FY24 Q4 2.2%
FY25 Q1 1.5%
FY25 Q2 3.1%
FY25 Q3 2.0%
FY25 Q4 0.4%
FY26 Q1 0.7%
FY26 Q2 -0.9%
FCF margin (TTM) Werner Enterprises Inc
-6% -4% -2% 0% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -5.6% FCF margin (TTM), FY23 Q4: -3.8% FCF margin (TTM), FY24 Q1: -3.1% FCF margin (TTM), FY24 Q2: -1.4% FCF margin (TTM), FY24 Q3: -0.8% FCF margin (TTM), FY24 Q4: -2.8% FCF margin (TTM), FY25 Q1: -3.7% FCF margin (TTM), FY25 Q2: -4.0% FCF margin (TTM), FY25 Q3: -1.8% FCF margin (TTM), FY25 Q4: -2.3% FCF margin (TTM), FY26 Q1: -1.4% FCF margin (TTM), FY26 Q2: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -5.6%
FY23 Q4 -3.8%
FY24 Q1 -3.1%
FY24 Q2 -1.4%
FY24 Q3 -0.8%
FY24 Q4 -2.8%
FY25 Q1 -3.7%
FY25 Q2 -4.0%
FY25 Q3 -1.8%
FY25 Q4 -2.3%
FY26 Q1 -1.4%
FY26 Q2 1.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,666 1,815 2,003 2,036 2,029 2,139 2,094 2,009 2,117 2,458 2,464 2,372 2,734 3,290 3,283 3,030 2,974 3,252
EBITDA 252 287 332 338 313 337 394 336 361 454 475 491 575 597 466 346 288 —
Operating income 97 135 174 171 140 160 200 126 144 224 225 227 309 323 176 66 12 −28
Net income 57 80 103 103 87 99 124 79 203 168 167 169 259 241 112 34 −14 −46
Diluted EPS $0.79 $1.10 $1.40 $1.40 $1.18 $1.36 $1.71 $1.09 $2.80 $2.33 $2.38 $2.44 $3.82 $3.74 $1.76 $0.55 −$0.24 −$0.77
Growth (year on year)
Revenue −23.0% +8.9% +10.3% +1.7% −0.4% +5.4% −2.1% −4.0% +5.4% +16.1% +0.2% −3.7% +15.3% +20.3% −0.2% −7.7% −1.8% +9.6%
EBITDA −10.1% +13.8% +15.9% +1.8% −7.6% +7.8% +16.8% −14.7% +7.6% +25.7% +4.5% +3.3% +17.2% +3.8% −22.0% −25.6% −16.9% —
Operating income −14.4% +39.2% +29.0% −1.3% −18.5% +14.6% +25.2% −37.1% +14.1% +55.9% +0.6% +0.9% +35.9% +4.5% −45.4% −62.5% −82.4% −130.5%
Net income −16.3% +41.5% +28.4% +0.3% −15.8% +13.7% +25.4% −36.0% +156.4% −17.1% −0.7% +1.3% +53.2% −6.9% −53.4% −69.5% — —
Diluted EPS −16.0% +39.2% +27.3% 0.0% −15.7% +15.3% +25.7% −36.3% +156.9% −16.8% +2.1% +2.5% +56.6% −2.1% −52.9% −68.8% — —
Margins
EBITDA margin 15.1% 15.8% 16.6% 16.6% 15.4% 15.8% 18.8% 16.7% 17.1% 18.5% 19.3% 20.7% 21.0% 18.1% 14.2% 11.4% 9.7% —
Operating margin 5.8% 7.4% 8.7% 8.4% 6.9% 7.5% 9.6% 6.3% 6.8% 9.1% 9.2% 9.6% 11.3% 9.8% 5.4% 2.2% 0.4% −0.9%
Net margin 3.4% 4.4% 5.1% 5.1% 4.3% 4.6% 5.9% 3.9% 9.6% 6.8% 6.8% 7.1% 9.5% 7.3% 3.4% 1.1% −0.5% −1.4%
Free-cash-flow margin 1.0% 2.9% −1.9% −1.5% 1.0% −4.2% −4.0% −11.4% −1.6% −4.1% 0.2% 1.4% −1.4% −1.8% −3.8% −2.8% −2.3% 1.6%
Cash flow
Cash from operations 194 228 264 255 232 207 370 310 283 418 427 446 333 449 474 330 182 274
Capital spending 178 176 302 285 211 297 454 538 316 520 421 413 371 507 599 414 250 220
Free cash flow 17 52 −38 −30 21 −90 −84 −228 −34 −102 6 33 −38 −59 −124 −84 −69 53
Stock-based pay 1 1 3 5 5 6 4 2 5 7 8 9 11 12 12 9 11 12
Free cash flow after stock pay 15 51 −40 −34 16 −96 −88 −231 −38 −109 −2 24 −49 −71 −136 −93 −79 41
Balance sheet
Cash 18 14 12 15 24 23 32 17 14 34 26 29 54 107 62 41 60 57
Total debt 0 0 0 90 40 75 75 180 75 125 300 225 428 694 649 650 752 793
Net debt (negative = net cash) −18 −14 −12 75 16 52 43 163 61 91 274 196 373 587 587 609 692 736
Diluted shares 72m 73m 73m 73m 73m 73m 73m 72m 73m 72m 70m 69m 68m 65m 64m 63m 61m 60m
Returned to shareholders
Dividends 104 131 51 124 15 14 15 17 19 23 286 25 29 32 34 35 34 34
Buybacks 0 0 0 0 20 31 6 0 0 72 42 57 104 110 0 67 56 —
Total returned 104 131 51 124 35 45 22 17 19 95 328 81 134 143 34 102 90 34

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $3.2bn
Short-term assets $675mLonger-term assets $2.5bn
What it owes, and who funded it · $3.1bn
Short-term liabilities $466mLonger-term liabilities $1.3bnShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $675m of assets due within a year against $466m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $675m short-term assets against $1.3bn of longer-dated liabilities.
  • More cash than debt $57m of cash against $793m of debt.
  • Debt below 40% of shareholders' equity Debt is 58% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 32% to 58% over five years.
  • A year's operating cash flow covers at least 20% of debt $274m of operating cash flow against $793m of debt.
  • Operating profit covers interest at least five times over Operating income of −$28m against $43m of interest.

From Werner Enterprises Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$55.6M
Dividends (TTM)
$33.5M
Returned to shareholders
-131%
of free cash flow
Buybacks, last 3 fiscal years
$123M
Diluted share count
−2.9%
year over year
Total shareholder yield
5.2%
dividends 1.9% + buybacks 3.2% of market value
Days sales outstanding
55 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in cargo ground transportation
Last 12 months unless stated WERN SAIA ARCB LSTR ODFL SNDR Median
Revenue, last 12 months $3.3bn $3.5bn $4.2bn $5.3bn $5.6bn $6.0bn $3.5bn
Revenue growth, last 12 months 9.6% 9.3% 3.7% 10.7% −0.6% 6.0% 7.0%
Revenue growth, 3-year average −0.8% 8.3% −3.3% −2.9% −2.0% 1.5% −0.8%
Revenue growth, latest quarter 24.0% 17.0% 15.9% 25.4% 10.4% 9.2% 10.4%
Operating margin −0.9% 10.7% 0.7% 4.1% 25.8% 3.4% 3.2%
Operating margin, 3-year average 1.9% 12.8% 3.4% 4.4% 26.4% 3.1% 3.4%
Net margin −1.4% 8.0% 0.4% 3.0% 19.4% 2.4% 3.0%
Cash from operations / revenue 8.4% 17.5% 6.7% 3.2% 24.9% 9.9% 9.9%
Free-cash-flow margin 1.6% 7.9% 4.1% 3.0% 19.9% 4.3% 3.0%
Free-cash-flow margin, 3-year average −1.3% −1.7% 2.6% 4.3% 17.1% 4.2% 0.9%
Stock pay / revenue 0.4% — 0.2% 0.2% 0.3% 0.3% 0.3%
Change in share count −2.9% 0.0% −4.2% −2.8% −1.9% 0.1% −1.5%

Median of all 19 companies we cover in cargo ground transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

19 cargo ground transportation companies
Measure Company Peer median Rank
Revenue growth Growth 9.6% 7.0% 6 of 19
Change in growth rate Growth +6.4pp +3.0pp 4 of 19
Operating margin Profitability -0.9% 3.4% 14 of 18
Net margin Profitability -1.4% 3.0% 16 of 18
Free-cash-flow margin Cash generation 1.6% 3.0% 12 of 19
Stock pay as % of revenue Cash generation 0.4% 0.3% 12 of 15
Long-term debt as % of assets Balance sheet 25.1% 11.5% 12 of 17
Change in share count Balance sheet -2.9% -1.5% 5 of 18
Days sales outstanding Balance sheet 55 days 49 days 13 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Transportation Services $2.9B 97.5% ▼ 1.9%
Truckload Transportation Services $2B 70.4% ▼ 3.8%
Werner Logistics $857M 29.6% ▲ 3.1%
Otherrevenuerecognitionsegments $74.9M 2.5% ▼ 0.2%
Geography
Region Revenue Share YoY
United States $2.8B 95.5% ▼ 0.5%
Total Foreign Countries $135M 4.5% ▼ 23.5%
Mexico $120M 89.4% ▼ 18.5%
Canada $14.2M 10.6% ▼ 49.7%

From Werner Enterprises Inc's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3B
Institutions reporting
266
Shares held vs prior quarter
▲ 5.6%
Positions opened / closed
60 / 31

Top buyers and sellers, Q2 2026: 162 institutions bought and 104 sold ; the biggest buyer was Blackrock, Inc (+1.6M shares) and the biggest seller Nuance Investments, LLC (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $454M 10.4M 15.2% ▲ 17.7%
Dimensional Fund Advisors LP $167M 3.8M 5.6% ▲ 1.1%
FMR LLC $164M 3.8M 5.5% ▼ 21.7%
Vanguard Portfolio Management LLC $162M 3.7M 5.4% ▲ 5.6%
American Century Companies Inc $133M 3.0M 4.5% ▲ 13.5%
Deprince Race & Zollo Inc $130M 3.0M 4.4% ▼ 2.1%
Vanguard Capital Management LLC $118M 2.7M 4.0% ▲ 4.0%
State Street Corp $115M 2.6M 3.9% ▲ 3.1%
First Trust Advisors LP $92.2M 2.1M 3.1% ▲ 10.0%
Victory Capital Management Inc $87M 2.0M 2.9% ▼ 15.3%
Jacobs Levy Equity Management, Inc $74.9M 1.7M 2.5% ▲ 54.8%
Goldman Sachs Group Inc $71M 1.6M 2.4% ▲ 444.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Werner Enterprises Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $140,285 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $140,285 net selling
Insider Date Trade Shares Price Value
Schelble Jim S Exec VP & Chief Admin Officer June 12, 2026 Sell 933 $43.93 $40,987
Downing Eric J Exec VP and COO February 20, 2026 Sell 1,418 $34.78 $49,318
Downing Eric J Exec VP and COO February 19, 2026 Sell 1,428 $35.00 $49,980

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 22, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • October 19, 2026
  • July 28, 2026
  • April 28, 2026
  • February 5, 2026
  • October 30, 2025

Recent SEC filings

Data status

When each part of this page on Werner Enterprises Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Werner Enterprises Inc in brief

What does Werner Enterprises Inc do?
Werner Enterprises Inc is a US-listed company in the cargo ground transportation industry. Its financial year ends in December.
What is Werner Enterprises Inc's stock ticker?
Werner Enterprises Inc trades under the ticker WERN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Werner Enterprises Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Werner Enterprises Inc reported revenue of $3.3B, 9.6% higher than a year earlier, according to its SEC filings.
What is Werner Enterprises Inc's free cash flow?
Werner Enterprises Inc's free-cash-flow margin is 1.6% of revenue over the trailing twelve months, ranking 12 of the 19 cargo ground transportation companies we cover.
Who are Werner Enterprises Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Werner Enterprises Inc buying back stock, and does it pay a dividend?
Werner Enterprises Inc spent $55.6M on share repurchases over the trailing twelve months, and its diluted share count fell 2.9% over the year.
What is Werner Enterprises Inc's market cap?
On November 2, 2026, Werner Enterprises Inc's market capitalisation was about $1.7B and net debt of $736M. Market figures come from third-party market data and may be delayed.
Does Werner Enterprises Inc pay a dividend?
Yes: Werner Enterprises Inc paid $33.5M in dividends over the trailing twelve months, a dividend yield of 1.95%.
How much debt does Werner Enterprises Inc have?
Werner Enterprises Inc's debt-to-equity ratio is 58.5%, from its latest balance sheet (31.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Werner Enterprises Inc's competitors?
In our Cargo Ground Transportation peer group, the companies closest to Werner Enterprises Inc are Saia Inc, Arcbest Corp, Landstar System Inc, Old Dominion and Schneider National, Inc. The side-by-side comparison below sets their revenue, margins and growth against Werner Enterprises Inc's.
Are insiders buying or selling Werner Enterprises Inc stock?
Over the last 12 months, Werner Enterprises Inc's directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Werner Enterprises Inc's next earnings date?
Around January 22, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Werner Enterprises Inc announces its own schedule.