WERNER ENTERPRISES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WERNER ENTERPRISES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,009	2,117	2,458	2,464	2,372	2,734	3,290	3,283	3,030	2,974
Operating income	126	144	224	225	227	309	323	176	66.1	11.7
Interest expense	2.58	2.24	2.7	6.85	4.22	4.42	11.8	33.5	39.2	39.1
Interest income	4.16	3.31	2.74	3.33	1.63	1.21	1.73	6.7	6.9	5.63
Other non-operating income	1.39	0.74	-0.33	-3.57	-2.74	36.9	1.71	-28.6	-23.7	-32.4
Pre-tax income	127	145	224	222	225	346	325	148	42.5	-20.8
Income tax	48.3	-58.3	55.7	55	55.6	84.5	79.2	35.5	8.91	2.21
Net income to minority interests				0	0	2.43	4.32	-0.09	-0.66	-8.6
Net income	79.1	203	168	167	169	259	241	112	34.2	-14.4
EBITDA	336	361	454	475	491	575	597	466	346	288
EPS, basic	1.10	2.81	2.35	2.40	2.45	3.84	3.76	1.77	0.55	-0.24
EPS, diluted	1.09	2.80	2.33	2.38	2.44	3.82	3.74	1.76	0.55	-0.24
Shares, basic (weighted)	72.1	72.3	71.7	69.6	69	67.4	64.1	63.4	62.5	60.6
Shares, diluted (weighted)	72.4	72.6	72.1	70	69.4	67.9	64.6	63.7	62.7	60.6
Dividend per share	0.24	0.27	0.34	4.11	0.36	0.46	0.51	0.55	0.56	0.56

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	17	13.6	33.9	26.4	29.3	54.2	107	61.7	40.8	59.9
Receivables	261	304	338	323	341	461	519	445	392	395
Inventory	12.8	11.7	10.1	9.24	12.1	11.1	14.5	18.1	14.2	12.1
Other current assets	30	28.3	31.6	38.8	33.7	63.4	74.5	30.1	15.3	35.7
Total current assets	373	400	457	466	457	631	763	635	542	613
Property, plant and equipment	1,363	1,347	1,488	1,526	1,543	1,613	1,825	1,973	1,934	1,791
Lease right-of-use assets				11.4	9.95	28.5	41	34.8	49.6	39.7
Goodwill					0	74.6	133	129	129	129
Intangible assets					0	55.3	81.5	86.5	76.4	44.6
Other non-current assets	57.2	60.9	139	151	157	229	295	335	371	272
Total assets	1,793	1,808	2,084	2,144	2,157	2,604	3,097	3,158	3,052	2,889
Accounts payable	66.6	73.8	97.8	94.6	83.3	94	124	136	112	95.1
Accrued liabilities	26.2	32.5	40.3	11.1	25	28.8	20.4	30.3	18.7	16.2
Short-term debt					25	5	6.25	2.5	20	0
Total current liabilities	215	232	310	309	274	269	310	331	356	315
Long-term debt					175	423	688	646	630	752
Lease liabilities				8.15	6.95	22.6	32.9	27.5	36.4	26.5
Other non-current liabilities	16.7	12.6	10.9	21.1	43.1	43.3	59.7	54.3	66.2	26.1
Total liabilities	798	623	819	1,033	962	1,240	1,615	1,591	1,558	1,498
Total debt					200	428	694	649	650	752
Paid-in capital	101	103	107	113	116	122	130	135	138	145
Retained earnings	1,085	1,268	1,414	1,295	1,439	1,667	1,876	1,953	1,953	1,905
Treasury stock	-175	-171	-241	-282	-338	-442	-552	-551	-617	-671
Other comprehensive income	-16.9	-15.8	-16.1	-14.7	-22.8	-20.6	-11.3	-9.68	-18.4	-16.1
Shareholders' equity	995	1,185	1,265	1,111	1,195	1,328	1,444	1,528	1,456	1,363
Total equity	995	1,185	1,265	1,111	1,195	1,328	1,444	1,528	1,456	1,363
Total liabilities and equity	1,793	1,808	2,084	2,144	2,157	2,604	3,097	3,158	3,052	2,889
Shares outstanding	72.2	72.4	70.4	69.2	67.9	65.8	63.2	63.4	61.9	59.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	79.1	203	168	167	169	261	246	112	33.6	-23
Depreciation and amortization	210	218	230	250	263	266	274	289	280	276
Stock-based compensation	2.38	4.55	7.39	8.08	8.9	10.8	12.5	11.9	8.86	10.7
Deferred income tax	44.6	-101	37.7	16.4	-10.2	29.5	42.6	8.15	-50.2	-2.71
Change in receivables	-10.3	-42.8	-33.8	15.1	-18.3	-101	3.17	73.9	53.3	-3.26
Cash from operations	310	283	418	427	446	333	449	474	330	182
Capital expenditures	-538	-316	-520	-421	-413	-371	-507	-599	-414	-250
Acquisitions				0	0	-202	-184	-0.19	0	0
Cash from investing	-410	-184	-331	-272	-263	-397	-514	-435	-241	-172
Debt issued				275	0	250	370	50	205	425
Debt repaid				-100	-50	0	-100	-90	-221	-320
Stock issued	0.37	2.46	0.48	0.17	0	0
Share buybacks	0	0	-72.2	-42.3	-56.5	-104	-110	0	-67.1	-55.6
Dividends paid	-17.3	-18.8	-23	-286	-24.9	-29.1	-32.2	-34.2	-35.1	-34.1
Cash from financing	83.4	-101	-67.6	-155	-186	89.7	118	-87.1	-106	7.3
Exchange rate effect	-0.38	0.05	-0.37	0.4	-0.78	-0.32	0.63	2.13	-3.54	1.62
Net change in cash	-17.6	-2.35	18.8	-0.49	-4.11	24.9	53	-45.5	-21	19.2
Free cash flow	-228	-33.5	-102	5.9	32.8	-38	-58.5	-124	-84.1	-68.5
Interest paid	2.47	2.49	2.69	6.44	4.42	4.23	11.2	27.2	40.2	40.6
Income taxes paid	4.67	22.1	11.4	49.6	54.2	81.2	40.3	17.9	25.8	38.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $32.89 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-0.9%	Operating income / revenue.
Pre-tax margin	-2.0%	Pre-tax income / revenue.
Net margin	-1.4%	Net income / revenue.
FCF margin	1.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	8.4%	Cash from operations / revenue.
Return on equity (ROE)	-3.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.5%	Net income / average total assets.
Return on invested capital (ROIC)	-1.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.8%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-1.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-82.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-67.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-44.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-16.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-21.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-10.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-142.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-143.6%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-44.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-26.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-16.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-6.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.45x	Current assets / current liabilities.
Quick ratio	1.17x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.12x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.58x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	25.1%	Total debt / total assets.
Liabilities / assets	56.2%	Total liabilities / total assets.
Net debt	$736.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-0.64x	Operating income / interest expense.
Working capital	$208.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	6.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.15B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.03x	Revenue / average total assets.
Fixed asset turnover	1.77x	Revenue / average property, plant and equipment.
Receivables turnover	6.62x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
Capex / operating cash flow	80.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.77	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$53.98	Revenue / diluted weighted shares.
FCF per share	$0.89	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.54	Cash from operations / diluted weighted shares.
Book value per share	$22.61	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.25	Tangible book value / shares outstanding.
Cash per share	$0.95	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	62.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.97B	Share price x shares outstanding.
Enterprise value	$2.71B	Market cap + total debt - cash - short-term investments.
P/S	0.61x	Market cap / revenue.
P/B	1.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.71x	Market cap / tangible book value, when positive.
P/FCF	37.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.21x	Market cap / cash from operations, when positive.
EV/Sales	0.83x	Enterprise value / revenue.
EV/FCF	50.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.7%	Free cash flow / market cap.
Earnings yield	-2.3%	Net income / market cap (the inverse of P/E).
Dividend yield	1.7%	Dividends paid over the period / market cap.
Shareholder yield	1.7%	(Dividends paid + share buybacks) / market cap.

What was WERNER ENTERPRISES INC's revenue in fiscal 2025?

WERNER ENTERPRISES INC reported revenue of $2.97B for fiscal 2025, 1.8% lower than the year before.

Was WERNER ENTERPRISES INC profitable in fiscal 2025?

No. It reported a net loss of $14.4M.

How much free cash flow did WERNER ENTERPRISES INC generate in fiscal 2025?

Cash from operations of $181.8M minus capital expenditures of $250.4M left free cash flow of -$68.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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