Werner Enterprises (WERN) Financials

$27.25 -0.73 (-2.61%)

Closing price 06/20/2025 04:00 PM Eastern

Extended Trading

$27.24 0.00 (-0.02%)

As of 06/20/2025 04:47 PM Eastern

Annual Income Statements for Werner Enterprises

This table shows Werner Enterprises' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	99	124	79	203	168	167	169	259	241	112	34
Consolidated Net Income / (Loss)	99	124	79	203	168	167	169	261	246	112	34
Net Income / (Loss) Continuing Operations	99	124	79	203	168	167	169	261	246	112	34
Total Pre-Tax Income	162	201	127	145	224	222	225	346	325	148	42
Total Operating Income	160	200	126	144	224	225	227	309	323	176	66
Total Gross Profit	1,209	1,249	1,218	1,236	1,422	1,409	1,419	1,593	1,055	980	1,720
Total Revenue	2,139	2,094	2,009	2,117	2,458	2,464	2,372	2,734	3,290	3,283	3,030
Operating Revenue	2,139	2,094	2,009	2,117	2,458	2,464	2,372	2,734	3,290	3,283	3,030
Total Cost of Revenue	930	844	791	880	1,036	1,054	953	1,141	2,235	2,304	1,310
Operating Cost of Revenue	930	844	791	880	1,036	1,054	953	1,141	2,235	2,304	1,310
Total Operating Expenses	1,049	1,049	1,092	1,093	1,198	1,184	1,192	1,284	732	803	1,654
Marketing Expense	80	81	84	80	98	89	110	99	147	139	145
Depreciation Expense	177	193	210	218	230	250	263	268	280	300	290
Other Operating Expenses / (Income)	787	776	785	777	877	843	819	918	304	365	1,218
Total Other Income / (Expense), net	1.69	0.71	1.39	0.74	-0.33	-3.57	-2.74	37	1.71	-29	-24
Interest Expense	0.88	1.97	2.58	2.24	2.70	6.85	4.22	4.42	12	34	39
Interest & Investment Income	2.54	2.88	4.16	3.31	2.74	3.33	1.63	1.21	1.73	5.66	7.45
Other Income / (Expense), net	0.03	-0.20	-0.19	-0.33	-0.38	-0.04	-0.16	40	12	-0.76	8.09
Income Tax Expense	63	77	48	-58	56	55	56	85	79	35	8.91
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	2.43	4.32	-0.09	-0.66
Basic Earnings per Share	$1.37	$1.72	$1.10	$2.81	$2.35	$2.40	$2.45	$3.84	$3.76	$1.77	$0.55
Weighted Average Basic Shares Outstanding	72.12M	71.96M	72.06M	72.27M	71.69M	69.57M	69.02M	67.43M	64.13M	63.37M	62.45M
Diluted Earnings per Share	$1.36	$1.71	$1.09	$2.80	$2.33	$2.38	$2.44	$3.82	$3.74	$1.76	$0.55
Weighted Average Diluted Shares Outstanding	72.74M	72.56M	72.39M	72.56M	72.06M	70.03M	69.43M	67.86M	64.58M	63.72M	62.66M
Weighted Average Basic & Diluted Shares Outstanding	72M	71.90M	71.90M	72.20M	71.60M	69.35M	68.01M	65.80M	63.25M	63.47M	61.87M
Cash Dividends to Common per Share	$0.20	$0.22	$0.24	$0.27	$0.34	$4.11	$0.36	$0.46	$0.51	$0.55	$0.56

This table shows Werner Enterprises' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	55	60	35	30	24	24	6.31	9.47	6.57	12
Consolidated Net Income / (Loss)	56	61	36	30	24	23	6.25	9.20	6.54	12
Net Income / (Loss) Continuing Operations	56	61	36	30	24	23	6.25	9.20	6.54	12
Total Pre-Tax Income	74	81	47	40	31	30	9.32	12	8.54	12
Total Operating Income	76	88	53	47	38	38	16	20	18	13
Total Gross Profit	451	-288	473	467	459	-420	426	429	422	442
Total Revenue	828	861	833	811	818	822	769	761	746	755
Operating Revenue	828	861	833	811	818	822	769	761	746	755
Total Cost of Revenue	376	1,149	360	344	358	1,242	343	332	323	312
Operating Cost of Revenue	376	1,149	360	344	358	1,242	343	332	323	312
Total Operating Expenses	375	-376	420	420	421	-458	410	409	405	429
Marketing Expense	35	44	36	37	31	34	36	32	28	49
Depreciation Expense	70	74	74	75	75	76	74	73	72	72
Other Operating Expenses / (Income)	270	-494	309	308	316	-567	300	305	306	308
Total Other Income / (Expense), net	-2.35	-7.39	-6.45	-7.09	-7.36	-7.73	-6.27	-7.48	-9.05	-0.86
Interest Expense	2.78	5.82	7.92	8.14	8.66	8.82	7.95	9.04	11	11
Interest & Investment Income	0.39	-23	1.47	1.06	1.62	1.51	1.55	1.59	2.09	2.22
Other Income / (Expense), net	0.04	22	-0.01	-0.01	-0.32	-0.42	0.12	-0.03	-0.05	8.05
Income Tax Expense	18	20	11	10	7.03	6.97	3.07	2.93	2.00	0.91
Net Income / (Loss) Attributable to Noncontrolling Interest	0.87	0.85	0.31	0.14	-0.20	-0.34	-0.06	-0.27	-0.03	-0.31
Basic Earnings per Share	$0.87	$0.95	$0.56	$0.47	$0.37	$0.37	$0.10	$0.15	$0.11	$0.19
Weighted Average Basic Shares Outstanding	63.39M	64.13M	63.31M	63.38M	63.39M	63.37M	63.47M	62.71M	61.81M	62.45M
Diluted Earnings per Share	$0.86	$0.94	$0.55	$0.47	$0.37	$0.37	$0.10	$0.15	$0.11	$0.19
Weighted Average Diluted Shares Outstanding	63.78M	64.58M	63.70M	63.69M	63.74M	63.72M	63.73M	62.86M	62.02M	62.66M
Weighted Average Basic & Diluted Shares Outstanding	63.20M	63.25M	63.38M	63.39M	63.39M	63.47M	63.41M	61.81M	61.81M	61.87M

This table details how cash moves in and out of Werner Enterprises' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-1.07	9.23	-18	-2.35	19	-0.49	-4.11	25	53	-46	-21
Net Cash From Operating Activities	207	370	310	283	418	427	446	333	449	474	330
Net Cash From Continuing Operating Activities	207	370	310	283	418	427	446	333	449	474	330
Net Income / (Loss) Continuing Operations	99	124	79	203	168	167	169	261	246	112	34
Consolidated Net Income / (Loss)	99	124	79	203	168	167	169	261	246	112	34
Depreciation Expense	177	193	210	218	230	250	263	268	280	300	290
Non-Cash Adjustments To Reconcile Net Income	-22	-17	-25	-7.86	9.07	0.71	1.05	-84	-81	-34	-18
Changes in Operating Assets and Liabilities, net	-47	71	46	-130	11	9.47	12	-112	3.76	97	23
Net Cash From Investing Activities	-203	-336	-410	-184	-331	-272	-263	-397	-514	-435	-241
Net Cash From Continuing Investing Activities	-203	-336	-410	-184	-331	-272	-263	-397	-514	-435	-241
Purchase of Property, Plant & Equipment	-297	-454	-538	-316	-520	-421	-413	-371	-507	-599	-414
Acquisitions	-	-	-	-	-	0.00	0.00	-202	-184	-3.57	-3.82
Purchase of Investments	-	-	-	-	-	0.00	-5.00	-10	-20	-2.93	-6.04
Sale of Property, Plant & Equipment	84	103	108	117	171	137	147	178	190	190	179
Sale and/or Maturity of Investments	14	20	19	20	21	12	7.97	7.59	7.61	5.26	3.30
Other Investing Activities, net	-5.58	-3.58	0.00	-5.00	-3.30	0.00	-	0.00	0.00	-25	0.00
Net Cash From Financing Activities	-3.67	-25	83	-101	-68	-155	-186	90	118	-87	-106
Net Cash From Continuing Financing Activities	-3.67	-25	83	-101	-68	-155	-186	90	118	-87	-106
Repayment of Debt	-50	-13	-63	-105	-60	-100	-140	-28	-104	-142	-314
Repurchase of Common Equity	-31	-6.44	0.00	0.00	-72	-42	-57	-104	-110	0.00	-67
Payment of Dividends	-14	-15	-17	-19	-23	-286	-25	-29	-34	-34	-35
Issuance of Debt	85	10	165	0.00	110	275	40	255	370	95	315
Other Financing Activities, net	6.36	-0.32	-1.22	22	-22	-1.73	-4.55	-4.27	-4.08	-6.36	-4.83
Effect of Exchange Rate Changes	-0.48	-0.63	-0.38	0.05	-0.37	0.40	-0.78	-0.32	0.63	2.13	-3.54
Cash Interest Paid	0.82	1.98	2.47	2.49	2.69	6.44	4.42	4.23	11	27	40
Cash Income Taxes Paid	77	35	4.67	22	11	50	54	81	40	18	26

This table details how cash moves in and out of Werner Enterprises' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	71	-18	22	-83	-3.75	19	-1.39	10	-16	-14
Net Cash From Operating Activities	65	116	167	115	74	118	89	109	61	71
Net Cash From Continuing Operating Activities	65	116	167	115	74	118	89	109	61	71
Net Income / (Loss) Continuing Operations	56	61	36	30	24	23	6.25	9.20	6.54	12
Consolidated Net Income / (Loss)	56	61	36	30	24	23	6.25	9.20	6.54	12
Depreciation Expense	70	74	74	75	75	76	74	73	72	72
Non-Cash Adjustments To Reconcile Net Income	-22	-14	-14	-14	-8.41	2.13	-5.06	-8.68	0.67	-4.66
Changes in Operating Assets and Liabilities, net	-39	-4.77	71	24	-15	17	13	36	-18	-7.77
Net Cash From Investing Activities	-99	-246	-129	-151	-122	-33	-19	-100	-87	-35
Net Cash From Continuing Investing Activities	-99	-246	-129	-151	-122	-33	-19	-100	-87	-35
Purchase of Property, Plant & Equipment	-153	-127	-162	-200	-169	-69	-58	-140	-134	-81
Acquisitions	-	-185	-2.31	-0.52	-	-0.74	-1.06	-1.30	-	-1.46
Purchase of Investments	-	-	0.00	-	-2.87	-0.07	-0.01	-0.01	-0.01	-6.01
Sale of Property, Plant & Equipment	52	64	59	48	49	34	39	41	47	52
Sale and/or Maturity of Investments	1.58	2.74	0.83	0.88	1.10	2.45	0.70	0.47	0.86	1.27
Net Cash From Financing Activities	105	111	-16	-48	44	-67	-71	3.00	11	-49
Net Cash From Continuing Financing Activities	105	111	-16	-48	44	-67	-71	3.00	11	-49
Repayment of Debt	-2.00	0.75	-2.50	-51	-30	-58	-71	-98	-60	-85
Repurchase of Common Equity	-8.29	-	0.00	-	-	-	-6.55	-61	-	0.02
Payment of Dividends	-8.24	-9.79	-8.22	-8.24	-8.87	-8.88	-8.88	-8.88	-8.65	-8.65
Issuance of Debt	130	120	0.00	-	80	15	20	170	80	45
Other Financing Activities, net	-6.08	-0.38	-5.51	12	3.09	-15	-4.09	-0.09	-	-0.66
Effect of Exchange Rate Changes	-0.25	0.56	0.97	1.02	-0.46	0.61	0.21	-1.96	-1.12	-0.67
Cash Interest Paid	2.43	5.52	8.24	8.40	8.66	1.91	9.33	7.40	11	13
Cash Income Taxes Paid	7.70	1.52	0.22	11	5.70	0.75	1.17	2.42	11	11

This table presents Werner Enterprises' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,480	1,586	1,793	1,808	2,084	2,144	2,157	2,604	3,097	3,158	3,052
Total Current Assets	426	380	373	400	457	466	457	631	763	635	542
Cash & Equivalents	23	32	17	14	34	26	29	54	107	62	41
Accounts Receivable	287	268	277	331	364	375	365	485	549	470	418
Inventories, net	18	16	13	12	10	9.24	12	11	15	18	14
Prepaid Expenses	15	16	15	16	17	17	17	18	18	54	54
Other Current Assets	26	27	30	28	32	39	34	63	74	30	15
Plant, Property, & Equipment, net	1,014	1,154	1,363	1,347	1,488	1,526	1,543	1,613	1,825	1,973	1,934
Plant, Property & Equipment, gross	1,786	1,909	2,110	2,114	2,248	2,344	2,405	2,558	2,886	2,952	2,941
Accumulated Depreciation	772	754	747	767	760	817	862	945	1,060	979	1,007
Total Noncurrent Assets	40	52	57	61	139	151	157	359	509	550	576
Goodwill	-	-	-	-	-	-	0.00	75	133	129	129
Intangible Assets	-	-	-	-	-	-	0.00	55	82	86	76
Other Noncurrent Operating Assets	40	52	57	61	139	151	157	229	295	335	371
Total Liabilities & Shareholders' Equity	1,480	1,586	1,793	1,808	2,084	2,144	2,157	2,604	3,097	3,158	3,052
Total Liabilities	647	650	798	623	819	1,033	962	1,240	1,615	1,591	1,558
Total Current Liabilities	187	184	215	232	310	309	274	269	310	331	356
Short-Term Debt	-	0.00	20	0.00	75	75	25	5.00	6.25	2.50	20
Accounts Payable	65	71	67	74	98	95	83	94	124	136	112
Accrued Expenses	-	-	-	-	-	11	25	29	20	30	19
Current Employee Benefit Liabilities	28	25	26	33	40	38	36	44	50	51	55
Other Current Liabilities	94	88	102	126	97	90	105	97	109	111	150
Total Noncurrent Liabilities	460	466	583	391	508	724	688	972	1,305	1,260	1,203
Long-Term Debt	75	75	160	75	50	225	175	423	688	646	630
Asset Retirement Reserve & Litigation Obligation	123	125	114	108	214	228	232	237	245	240	237
Noncurrent Deferred & Payable Income Tax Liabilities	242	246	293	195	233	250	238	268	313	320	270
Other Noncurrent Operating Liabilities	20	20	17	13	11	21	43	43	60	54	66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	0.00	36	39	39	38
Total Equity & Noncontrolling Interests	834	936	995	1,185	1,265	1,111	1,195	1,328	1,444	1,528	1,456
Total Preferred & Common Equity	834	936	995	1,185	1,265	1,111	1,195	1,328	1,444	1,528	1,456
Total Common Equity	834	936	995	1,185	1,265	1,111	1,195	1,328	1,444	1,528	1,456
Common Stock	103	104	102	103	108	113	117	123	131	136	139
Retained Earnings	915	1,023	1,085	1,268	1,414	1,295	1,439	1,667	1,876	1,953	1,953
Treasury Stock	-174	-178	-175	-171	-241	-282	-338	-442	-552	-551	-617
Accumulated Other Comprehensive Income / (Loss)	-9.38	-13	-17	-16	-16	-15	-23	-21	-11	-9.68	-18

This table presents Werner Enterprises' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	2,859	3,116	3,105	3,194	3,079	3,094	3,122
Total Current Assets	731	710	609	645	597	578	547
Cash & Equivalents	126	130	47	43	60	70	55
Accounts Receivable	518	490	471	476	442	438	409
Inventories, net	13	15	16	17	17	16	15
Prepaid Expenses	8.51	14	8.69	7.93	13	7.90	7.22
Other Current Assets	66	61	67	101	65	45	60
Plant, Property, & Equipment, net	1,719	1,855	1,944	1,987	1,931	1,960	2,021
Plant, Property & Equipment, gross	2,781	2,875	2,976	2,952	2,914	2,952	3,022
Accumulated Depreciation	1,062	1,020	1,032	966	983	992	1,001
Total Noncurrent Assets	410	552	551	563	550	556	554
Goodwill	74	129	129	129	129	129	129
Intangible Assets	51	94	92	89	84	81	79
Other Noncurrent Operating Assets	284	329	331	345	337	345	346
Total Liabilities & Shareholders' Equity	2,859	3,116	3,105	3,194	3,079	3,094	3,122
Total Liabilities	1,434	1,607	1,569	1,643	1,522	1,600	1,635
Total Current Liabilities	303	303	315	330	314	342	358
Short-Term Debt	5.00	5.00	3.75	3.75	1.25	10	0.00
Accounts Payable	116	129	120	129	136	142	164
Accrued Expenses	32	20	19	28	22	23	22
Current Employee Benefit Liabilities	48	44	47	49	48	52	55
Other Current Liabilities	103	106	125	120	106	115	116
Total Noncurrent Liabilities	1,131	1,303	1,254	1,314	1,208	1,258	1,277
Long-Term Debt	569	686	636	686	596	660	690
Asset Retirement Reserve & Litigation Obligation	239	246	240	238	236	227	228
Noncurrent Deferred & Payable Income Tax Liabilities	281	313	322	337	323	308	292
Other Noncurrent Operating Liabilities	43	59	56	53	53	62	67
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	39	39	39	39	39	38	38
Total Equity & Noncontrolling Interests	1,387	1,471	1,497	1,512	1,518	1,455	1,449
Total Preferred & Common Equity	1,387	1,471	1,497	1,512	1,518	1,455	1,449
Total Common Equity	1,387	1,471	1,497	1,512	1,518	1,455	1,449
Common Stock	128	129	131	134	134	136	138
Retained Earnings	1,824	1,903	1,924	1,939	1,951	1,952	1,950
Treasury Stock	-552	-552	-552	-552	-557	-618	-618
Accumulated Other Comprehensive Income / (Loss)	-13	-9.26	-6.62	-8.65	-9.07	-14	-21

This table displays calculated financial ratios and metrics derived from Werner Enterprises' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.43%	-2.14%	-4.04%	5.36%	16.12%	0.24%	-3.71%	15.27%	20.32%	-0.20%	-7.71%
EBITDA Growth	7.73%	16.72%	-14.71%	7.61%	25.71%	4.62%	3.28%	25.76%	-0.34%	-22.71%	-23.26%
EBIT Growth	14.45%	25.07%	-37.14%	13.99%	55.99%	0.71%	0.82%	53.66%	-4.11%	-47.55%	-57.74%
NOPAT Growth	14.09%	26.28%	-36.51%	157.91%	-16.57%	0.73%	0.89%	36.50%	4.57%	-45.13%	-61.01%
Net Income Growth	13.67%	25.41%	-36.04%	156.40%	-17.12%	-0.72%	1.28%	54.65%	-6.08%	-54.28%	-70.10%
EPS Growth	15.25%	25.74%	-36.26%	156.88%	-16.79%	2.15%	2.52%	56.56%	-2.09%	-52.94%	-68.75%
Operating Cash Flow Growth	-11.14%	79.31%	-16.40%	-8.67%	47.85%	2.03%	4.52%	-25.36%	34.82%	5.72%	-30.49%
Free Cash Flow Firm Growth	-99.76%	14,747.34%	-427.97%	212.69%	-48.26%	139.84%	34.91%	-172.35%	36.17%	155.74%	110.80%
Invested Capital Growth	12.35%	10.44%	18.29%	7.63%	8.80%	2.12%	-1.36%	27.17%	19.12%	4.11%	-2.36%
Revenue Q/Q Growth	1.68%	-1.15%	-0.49%	2.35%	3.32%	-0.99%	-0.06%	5.60%	3.01%	-1.19%	-2.17%
EBITDA Q/Q Growth	4.96%	2.53%	-4.46%	2.34%	8.20%	-0.86%	3.13%	7.79%	-0.94%	-12.96%	-5.18%
EBIT Q/Q Growth	11.51%	2.38%	-15.11%	7.58%	15.30%	-3.89%	7.47%	11.89%	-2.44%	-29.26%	-17.83%
NOPAT Q/Q Growth	12.43%	3.13%	-15.80%	142.62%	-33.74%	-2.97%	6.95%	6.79%	-3.63%	-21.82%	-23.31%
Net Income Q/Q Growth	11.95%	3.29%	-15.79%	142.79%	-33.99%	-3.51%	7.68%	7.09%	-6.42%	-25.17%	-25.76%
EPS Q/Q Growth	12.40%	3.64%	-16.15%	143.48%	-33.81%	-2.86%	8.44%	7.30%	-5.08%	-24.46%	-24.66%
Operating Cash Flow Q/Q Growth	-8.83%	14.27%	7.23%	-14.74%	15.48%	-4.73%	1.15%	-5.68%	8.86%	0.50%	-12.55%
Free Cash Flow Firm Q/Q Growth	-99.49%	60.90%	-12.62%	37.19%	460.51%	5.75%	-22.70%	-20.26%	-414.05%	131.84%	-28.60%
Invested Capital Q/Q Growth	6.54%	4.99%	3.87%	11.75%	-0.22%	-1.13%	3.88%	5.40%	10.44%	-2.02%	-0.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.52%	59.66%	60.62%	58.41%	57.87%	57.20%	59.83%	58.28%	32.06%	29.84%	56.76%
EBITDA Margin	15.76%	18.79%	16.71%	17.06%	18.47%	19.28%	20.68%	22.56%	18.69%	14.47%	12.03%
Operating Margin	7.48%	9.58%	6.28%	6.79%	9.12%	9.15%	9.59%	11.31%	9.82%	5.37%	2.18%
EBIT Margin	7.48%	9.57%	6.27%	6.78%	9.11%	9.15%	9.58%	12.77%	10.18%	5.35%	2.45%
Profit (Net Income) Margin	4.61%	5.91%	3.94%	9.59%	6.84%	6.78%	7.13%	9.56%	7.46%	3.42%	1.11%
Tax Burden Percent	60.98%	61.50%	62.08%	140.35%	75.11%	75.23%	75.25%	75.57%	75.61%	75.98%	79.02%
Interest Burden Percent	101.03%	100.45%	101.26%	100.74%	100.02%	98.44%	98.86%	99.08%	96.98%	84.13%	57.22%
Effective Tax Rate	39.02%	38.50%	37.92%	-40.35%	24.89%	24.77%	24.75%	24.43%	24.39%	24.02%	20.98%
Return on Invested Capital (ROIC)	11.66%	13.22%	7.33%	16.79%	12.94%	12.38%	12.45%	15.06%	12.84%	6.35%	2.46%
ROIC Less NNEP Spread (ROIC-NNEP)	14.65%	14.13%	8.16%	17.72%	12.61%	10.91%	11.52%	25.30%	13.11%	2.64%	-0.67%
Return on Net Nonoperating Assets (RNNOA)	0.63%	0.76%	0.87%	1.82%	0.79%	1.67%	2.22%	5.38%	4.42%	1.02%	-0.26%
Return on Equity (ROE)	12.28%	13.98%	8.20%	18.62%	13.73%	14.05%	14.66%	20.44%	17.26%	7.37%	2.19%
Cash Return on Invested Capital (CROIC)	0.02%	3.29%	-9.43%	9.44%	4.51%	10.28%	13.82%	-8.86%	-4.61%	2.32%	4.84%
Operating Return on Assets (OROA)	11.30%	13.06%	7.45%	7.97%	11.50%	10.67%	10.57%	14.67%	11.75%	5.62%	2.39%
Return on Assets (ROA)	6.96%	8.07%	4.68%	11.27%	8.64%	7.90%	7.86%	10.99%	8.62%	3.59%	1.08%
Return on Common Equity (ROCE)	12.28%	13.98%	8.20%	18.62%	13.73%	14.05%	14.66%	20.15%	16.81%	7.18%	2.14%
Return on Equity Simple (ROE_SIMPLE)	11.83%	13.22%	7.95%	17.12%	13.29%	15.03%	14.15%	19.70%	17.01%	7.35%	2.31%
Net Operating Profit after Tax (NOPAT)	98	123	78	202	168	170	171	234	244	134	52
NOPAT Margin	4.56%	5.89%	3.90%	9.54%	6.85%	6.89%	7.21%	8.54%	7.43%	4.08%	1.73%
Net Nonoperating Expense Percent (NNEP)	-2.99%	-0.91%	-0.84%	-0.92%	0.33%	1.47%	0.93%	-10.24%	-0.27%	3.71%	3.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	11.43%	6.16%	2.48%
Cost of Revenue to Revenue	43.48%	40.34%	39.38%	41.59%	42.13%	42.80%	40.17%	41.72%	67.94%	70.16%	43.24%
SG&A Expenses to Revenue	0.23%	-0.05%	0.64%	0.86%	-0.31%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.04%	50.09%	54.34%	51.62%	48.74%	48.05%	50.24%	46.97%	22.24%	24.46%	54.58%
Earnings before Interest and Taxes (EBIT)	160	200	126	143	224	225	227	349	335	176	74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	337	393	336	361	454	475	491	617	615	475	365
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.16	1.46	1.60	1.95	1.39	2.15	2.17	2.32	1.71	1.73	1.52
Price to Tangible Book Value (P/TBV)	2.16	1.46	1.60	1.95	1.39	2.15	2.17	2.57	2.01	2.01	1.77
Price to Revenue (P/Rev)	0.84	0.65	0.79	1.09	0.71	0.97	1.09	1.13	0.75	0.81	0.73
Price to Earnings (P/E)	18.28	11.04	20.13	11.40	10.45	14.28	15.34	11.90	10.25	23.53	64.60
Dividend Yield	0.80%	1.16%	1.09%	0.84%	1.38%	11.93%	0.96%	1.00%	1.30%	1.32%	1.57%
Earnings Yield	5.47%	9.05%	4.97%	8.77%	9.57%	7.00%	6.52%	8.40%	9.75%	4.25%	1.55%
Enterprise Value to Invested Capital (EV/IC)	2.09	1.44	1.52	1.91	1.36	1.92	2.02	2.01	1.50	1.52	1.36
Enterprise Value to Revenue (EV/Rev)	0.87	0.67	0.87	1.12	0.75	1.08	1.17	1.28	0.94	1.00	0.94
Enterprise Value to EBITDA (EV/EBITDA)	5.51	3.58	5.23	6.57	4.07	5.59	5.64	5.66	5.04	6.88	7.84
Enterprise Value to EBIT (EV/EBIT)	11.59	7.04	13.95	16.55	8.26	11.79	12.17	10.00	9.25	18.62	38.51
Enterprise Value to NOPAT (EV/NOPAT)	19.01	11.43	22.44	11.76	10.98	15.67	16.16	14.95	12.68	24.40	54.69
Enterprise Value to Operating Cash Flow (EV/OCF)	8.98	3.81	5.67	8.40	4.42	6.23	6.20	10.49	6.91	6.89	8.67
Enterprise Value to Free Cash Flow (EV/FCFF)	8,971.44	45.89	0.00	20.91	31.47	18.86	14.55	0.00	0.00	66.85	27.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.08	0.18	0.06	0.10	0.27	0.17	0.31	0.47	0.41	0.44
Long-Term Debt to Equity	0.09	0.08	0.16	0.06	0.04	0.20	0.15	0.31	0.46	0.41	0.42
Financial Leverage	0.04	0.05	0.11	0.10	0.06	0.15	0.19	0.21	0.34	0.38	0.39
Leverage Ratio	1.76	1.73	1.75	1.65	1.59	1.78	1.86	1.86	2.00	2.05	2.03
Compound Leverage Factor	1.78	1.74	1.77	1.66	1.59	1.75	1.84	1.84	1.94	1.73	1.16
Debt to Total Capital	8.25%	7.42%	15.32%	5.95%	8.99%	21.26%	14.34%	23.87%	31.88%	29.28%	30.32%
Short-Term Debt to Total Capital	0.00%	0.00%	1.70%	0.00%	5.40%	5.32%	1.79%	0.28%	0.29%	0.11%	0.93%
Long-Term Debt to Total Capital	8.25%	7.42%	13.62%	5.95%	3.60%	15.95%	12.54%	23.59%	31.59%	29.17%	29.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.01%	1.78%	1.74%	1.77%
Common Equity to Total Capital	91.75%	92.58%	84.68%	94.05%	91.01%	78.74%	85.66%	74.12%	66.34%	68.98%	67.91%
Debt to EBITDA	0.45	0.19	0.54	0.21	0.28	0.63	0.41	0.69	1.13	1.37	1.78
Net Debt to EBITDA	0.16	0.11	0.49	0.17	0.20	0.58	0.35	0.61	0.95	1.24	1.67
Long-Term Debt to EBITDA	0.22	0.19	0.48	0.21	0.11	0.47	0.36	0.68	1.12	1.36	1.73
Debt to NOPAT	0.77	0.61	2.30	0.37	0.74	1.77	1.17	1.83	2.84	4.84	12.44
Net Debt to NOPAT	0.54	0.35	2.08	0.30	0.54	1.61	1.00	1.60	2.40	4.38	11.66
Long-Term Debt to NOPAT	0.77	0.61	2.04	0.37	0.30	1.33	1.02	1.81	2.81	4.82	12.05
Altman Z-Score	4.54	4.05	3.50	4.75	3.86	3.81	4.10	4.05	3.36	3.20	2.89
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.41%	2.62%	2.54%	2.50%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.07	1.74	1.72	1.47	1.51	1.67	2.35	2.46	1.92	1.52
Quick Ratio	1.66	1.63	1.37	1.48	1.28	1.30	1.44	2.01	2.12	1.61	1.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.21	31	-101	114	59	141	190	-137	-88	49	103
Operating Cash Flow to CapEx	97.30%	105.38%	72.08%	142.24%	119.83%	150.29%	167.48%	172.40%	141.29%	116.07%	140.38%
Free Cash Flow to Firm to Interest Expense	0.23	15.56	-39.09	50.61	21.79	20.55	45.08	-31.08	-7.42	1.46	2.63
Operating Cash Flow to Interest Expense	234.47	187.64	120.16	126.09	155.16	62.25	105.79	75.25	37.94	14.15	8.41
Operating Cash Flow Less CapEx to Interest Expense	-6.50	9.58	-46.54	37.44	25.67	20.83	42.63	31.60	11.09	1.96	2.42
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.51	1.37	1.19	1.18	1.26	1.17	1.10	1.15	1.15	1.05	0.98
Accounts Receivable Turnover	8.08	7.54	7.38	6.97	7.07	6.66	6.41	6.44	6.37	6.44	6.82
Inventory Turnover	55.42	49.33	54.22	71.97	95.21	109.25	89.46	98.34	174.18	141.32	81.23
Fixed Asset Turnover	2.15	1.93	1.60	1.56	1.73	1.63	1.55	1.73	1.91	1.73	1.55
Accounts Payable Turnover	14.14	12.47	11.53	12.54	12.07	10.96	10.71	12.87	20.46	17.69	10.55
Days Sales Outstanding (DSO)	45.17	48.41	49.49	52.35	51.61	54.78	56.90	56.70	57.34	56.64	53.50
Days Inventory Outstanding (DIO)	6.59	7.40	6.73	5.07	3.83	3.34	4.08	3.71	2.10	2.58	4.49
Days Payable Outstanding (DPO)	25.80	29.28	31.66	29.11	30.24	33.30	34.07	28.35	17.84	20.63	34.60
Cash Conversion Cycle (CCC)	25.95	26.53	24.56	28.31	25.21	24.82	26.92	32.06	41.60	38.59	23.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	886	979	1,158	1,246	1,356	1,385	1,366	1,737	2,069	2,154	2,103
Invested Capital Turnover	2.55	2.25	1.88	1.76	1.89	1.80	1.73	1.76	1.73	1.56	1.42
Increase / (Decrease) in Invested Capital	97	93	179	88	110	29	-19	371	332	85	-51
Enterprise Value (EV)	1,856	1,410	1,756	2,374	1,848	2,657	2,765	3,492	3,099	3,270	2,859
Market Capitalization	1,804	1,366	1,593	2,313	1,757	2,384	2,594	3,082	2,474	2,645	2,211
Book Value per Share	$11.60	$13.01	$13.80	$16.38	$17.76	$16.05	$17.29	$19.85	$22.84	$24.11	$23.56
Tangible Book Value per Share	$11.60	$13.01	$13.80	$16.38	$17.76	$16.05	$17.29	$17.91	$19.45	$20.71	$20.23
Total Capital	909	1,011	1,175	1,260	1,390	1,411	1,395	1,791	2,176	2,216	2,144
Total Debt	75	75	180	75	125	300	200	428	694	649	650
Total Long-Term Debt	75	75	160	75	50	225	175	423	688	646	630
Net Debt	52	43	163	61	91	274	171	373	587	587	609
Capital Expenditures (CapEx)	212	351	430	199	349	284	266	193	318	409	235
Debt-free, Cash-free Net Working Capital (DFCFNWC)	217	164	161	154	187	206	179	313	352	245	165
Debt-free Net Working Capital (DFNWC)	240	196	178	168	221	232	208	368	459	307	206
Net Working Capital (NWC)	240	196	158	168	146	157	183	363	453	304	186
Net Nonoperating Expense (NNE)	-1.03	-0.43	-0.86	-1.03	0.25	2.68	2.06	-28	-1.29	22	19
Net Nonoperating Obligations (NNO)	52	43	163	61	91	274	171	373	587	587	609
Total Depreciation and Amortization (D&A)	177	193	210	218	230	250	263	268	280	300	290
Debt-free, Cash-free Net Working Capital to Revenue	10.15%	7.83%	8.03%	7.30%	7.62%	8.36%	7.53%	11.46%	10.70%	7.46%	5.45%
Debt-free Net Working Capital to Revenue	11.21%	9.35%	8.87%	7.94%	9.00%	9.44%	8.76%	13.44%	13.96%	9.34%	6.80%
Net Working Capital to Revenue	11.21%	9.35%	7.88%	7.94%	5.95%	6.39%	7.71%	13.26%	13.77%	9.26%	6.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.37	$1.72	$1.10	$2.81	$2.35	$2.40	$2.45	$3.84	$3.76	$1.77	$0.55
Adjusted Weighted Average Basic Shares Outstanding	72.12M	71.96M	72.06M	72.27M	71.69M	69.57M	69.02M	67.43M	64.13M	63.37M	62.45M
Adjusted Diluted Earnings per Share	$1.36	$1.71	$1.09	$2.80	$2.33	$2.38	$2.44	$3.82	$3.74	$1.76	$0.55
Adjusted Weighted Average Diluted Shares Outstanding	72.74M	72.56M	72.39M	72.56M	72.06M	70.03M	69.43M	67.86M	64.58M	63.72M	62.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	72.09M	72.04M	72.19M	72.45M	70.49M	69.35M	68.01M	65.80M	63.25M	63.47M	61.87M
Normalized Net Operating Profit after Tax (NOPAT)	98	123	78	101	168	170	171	234	244	134	52
Normalized NOPAT Margin	4.56%	5.89%	3.90%	4.76%	6.85%	6.89%	7.21%	8.54%	7.43%	4.08%	1.73%
Pre Tax Income Margin	7.56%	9.61%	6.34%	6.83%	9.11%	9.01%	9.47%	12.65%	9.87%	4.50%	1.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	181.74	101.45	48.85	63.97	83.06	32.89	53.92	78.96	28.31	5.24	1.89
NOPAT to Interest Expense	110.81	62.45	30.37	89.99	62.49	24.75	40.60	52.82	20.65	4.00	1.33
EBIT Less CapEx to Interest Expense	-59.22	-76.61	-117.86	-24.68	-46.43	-8.53	-9.24	35.31	1.46	-6.95	-4.10
NOPAT Less CapEx to Interest Expense	-130.16	-115.60	-136.34	1.34	-67.00	-16.67	-22.56	9.17	-6.20	-8.19	-4.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	14.64%	12.22%	21.85%	9.26%	13.69%	171.43%	14.72%	11.14%	13.74%	30.46%	104.46%
Augmented Payout Ratio	45.64%	17.42%	21.85%	9.26%	56.60%	196.77%	48.15%	51.08%	58.69%	30.46%	304.24%

This table displays calculated financial ratios and metrics derived from Werner Enterprises' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.74%	12.58%	8.91%	-3.01%	-1.19%	-4.59%	-7.64%	-6.20%	-8.81%	-8.18%
EBITDA Growth	4.87%	-3.06%	-9.35%	-14.78%	-23.54%	-38.46%	-29.53%	-24.44%	-20.54%	-17.61%
EBIT Growth	7.05%	-7.06%	-27.51%	-36.91%	-50.74%	-65.95%	-70.57%	-58.51%	-53.32%	-42.94%
NOPAT Growth	7.35%	-12.20%	-36.27%	-37.60%	-49.45%	-56.18%	-74.13%	-57.90%	-53.83%	-57.57%
Net Income Growth	-14.08%	-21.65%	-35.43%	-59.22%	-57.97%	-61.92%	-82.42%	-69.35%	-72.17%	-50.15%
EPS Growth	-8.51%	-17.54%	-32.93%	-58.04%	-56.98%	-60.64%	-81.82%	-68.09%	-70.27%	-48.65%
Operating Cash Flow Growth	2.05%	45.95%	7.67%	2.11%	13.87%	2.03%	-46.91%	-5.11%	-17.76%	-39.98%
Free Cash Flow Firm Growth	39.91%	10.09%	-18.86%	-3.03%	-76.31%	78.92%	96.57%	116.03%	130.32%	213.01%
Invested Capital Growth	13.69%	19.12%	23.36%	20.12%	17.35%	4.11%	1.09%	-1.72%	-3.47%	-2.36%
Revenue Q/Q Growth	-1.04%	4.09%	-3.34%	-2.60%	0.82%	0.51%	-6.43%	-1.08%	-1.98%	1.20%
EBITDA Q/Q Growth	2.39%	25.42%	-30.60%	-4.39%	-8.13%	0.94%	-20.53%	2.53%	-3.39%	4.66%
EBIT Q/Q Growth	2.01%	44.38%	-51.54%	-11.59%	-20.36%	-0.19%	-58.11%	24.63%	-10.40%	21.99%
NOPAT Q/Q Growth	1.93%	15.39%	-39.29%	-12.60%	-17.43%	0.03%	-64.17%	42.25%	-9.44%	-8.07%
Net Income Q/Q Growth	-24.02%	9.09%	-41.76%	-15.52%	-21.71%	-1.16%	-73.11%	47.25%	-28.91%	77.09%
EPS Q/Q Growth	-23.21%	9.30%	-41.49%	-14.55%	-21.28%	0.00%	-72.97%	50.00%	-26.67%	72.73%
Operating Cash Flow Q/Q Growth	-42.09%	77.94%	43.84%	-31.11%	-35.42%	59.44%	-25.15%	23.13%	-44.03%	16.37%
Free Cash Flow Firm Q/Q Growth	46.19%	-58.15%	-32.52%	8.64%	7.92%	81.09%	78.46%	527.67%	74.12%	-29.53%
Invested Capital Q/Q Growth	5.66%	10.44%	0.11%	2.83%	3.23%	-2.02%	-2.80%	-0.03%	1.39%	-0.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.52%	-33.42%	56.80%	57.57%	56.17%	-51.05%	55.40%	56.39%	56.66%	58.62%
EBITDA Margin	17.73%	21.36%	15.33%	15.05%	13.72%	13.77%	11.70%	12.13%	11.95%	12.36%
Operating Margin	9.21%	10.26%	6.41%	5.82%	4.63%	4.61%	2.03%	2.58%	2.36%	1.77%
EBIT Margin	9.22%	12.79%	6.41%	5.82%	4.60%	4.56%	2.04%	2.57%	2.35%	2.84%
Profit (Net Income) Margin	6.76%	7.08%	4.27%	3.70%	2.87%	2.83%	0.81%	1.21%	0.88%	1.53%
Tax Burden Percent	75.66%	75.33%	75.71%	74.85%	76.97%	76.92%	67.07%	75.84%	76.54%	92.72%
Interest Burden Percent	96.87%	73.52%	87.93%	84.99%	81.26%	80.52%	59.29%	61.95%	48.70%	58.37%
Effective Tax Rate	24.34%	24.67%	24.29%	25.15%	23.03%	23.08%	32.93%	24.16%	23.46%	7.28%
Return on Invested Capital (ROIC)	12.65%	13.36%	8.69%	7.44%	5.82%	5.52%	2.10%	2.93%	2.59%	2.34%
ROIC Less NNEP Spread (ROIC-NNEP)	12.18%	12.20%	7.56%	6.36%	4.79%	4.51%	1.34%	1.98%	1.51%	2.20%
Return on Net Nonoperating Assets (RNNOA)	3.31%	4.12%	2.26%	2.14%	1.76%	1.73%	0.48%	0.78%	0.64%	0.86%
Return on Equity (ROE)	15.96%	17.48%	10.95%	9.58%	7.58%	7.26%	2.58%	3.72%	3.23%	3.20%
Cash Return on Invested Capital (CROIC)	1.59%	-4.61%	-9.11%	-8.03%	-7.55%	2.32%	3.93%	5.72%	6.69%	4.84%
Operating Return on Assets (OROA)	11.03%	14.76%	7.47%	6.51%	5.05%	4.79%	2.12%	2.63%	2.31%	2.77%
Return on Assets (ROA)	8.09%	8.17%	4.97%	4.14%	3.16%	2.97%	0.84%	1.24%	0.86%	1.50%
Return on Common Equity (ROCE)	15.52%	17.02%	10.66%	9.33%	7.39%	7.07%	2.52%	3.62%	3.14%	3.12%
Return on Equity Simple (ROE_SIMPLE)	18.93%	0.00%	15.37%	12.19%	9.92%	0.00%	5.47%	4.27%	3.12%	0.00%
Net Operating Profit after Tax (NOPAT)	58	67	40	35	29	29	10	15	13	12
NOPAT Margin	6.97%	7.73%	4.85%	4.36%	3.57%	3.55%	1.36%	1.95%	1.81%	1.64%
Net Nonoperating Expense Percent (NNEP)	0.47%	1.16%	1.13%	1.08%	1.03%	1.01%	0.77%	0.95%	1.08%	0.13%
Return On Investment Capital (ROIC_SIMPLE)	-	3.12%	-	-	-	1.34%	-	-	-	0.59%
Cost of Revenue to Revenue	45.48%	133.42%	43.20%	42.43%	43.83%	151.05%	44.60%	43.61%	43.34%	41.38%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	45.30%	-43.68%	50.39%	51.76%	51.53%	-55.67%	53.37%	53.82%	54.30%	56.85%
Earnings before Interest and Taxes (EBIT)	76	110	53	47	38	38	16	20	18	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	147	184	128	122	112	113	90	92	89	93
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.68	1.71	1.92	1.84	1.61	1.73	1.62	1.56	1.64	1.52
Price to Tangible Book Value (P/TBV)	1.85	2.01	2.26	2.16	1.88	2.01	1.89	1.82	1.92	1.77
Price to Revenue (P/Rev)	0.73	0.75	0.84	0.83	0.73	0.81	0.76	0.71	0.77	0.73
Price to Earnings (P/E)	9.03	10.25	12.66	15.30	16.33	23.53	29.48	35.89	51.75	64.60
Dividend Yield	1.36%	1.30%	1.14%	1.22%	1.41%	1.32%	1.42%	1.57%	1.46%	1.57%
Earnings Yield	11.07%	9.75%	7.90%	6.53%	6.12%	4.25%	3.39%	2.79%	1.93%	1.55%
Enterprise Value to Invested Capital (EV/IC)	1.50	1.50	1.65	1.59	1.42	1.52	1.45	1.39	1.44	1.36
Enterprise Value to Revenue (EV/Rev)	0.88	0.94	1.02	1.02	0.94	1.00	0.94	0.92	0.98	0.94
Enterprise Value to EBITDA (EV/EBITDA)	4.54	5.04	5.68	5.84	5.71	6.88	6.94	7.12	7.93	7.84
Enterprise Value to EBIT (EV/EBIT)	8.20	9.25	10.87	11.82	12.56	18.62	22.01	26.28	33.75	38.51
Enterprise Value to NOPAT (EV/NOPAT)	11.11	12.68	15.45	16.96	18.19	24.40	29.07	34.53	44.74	54.69
Enterprise Value to Operating Cash Flow (EV/OCF)	6.83	6.91	7.42	7.33	6.61	6.89	7.67	7.43	8.09	8.67
Enterprise Value to Free Cash Flow (EV/FCFF)	100.75	0.00	0.00	0.00	0.00	66.85	37.06	24.04	21.12	27.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.40	0.47	0.46	0.42	0.44	0.41	0.38	0.45	0.46	0.44
Long-Term Debt to Equity	0.40	0.46	0.45	0.41	0.44	0.41	0.38	0.44	0.46	0.42
Financial Leverage	0.27	0.34	0.30	0.34	0.37	0.38	0.36	0.39	0.42	0.39
Leverage Ratio	1.93	2.00	2.00	2.04	2.03	2.05	2.02	2.05	2.08	2.03
Compound Leverage Factor	1.87	1.47	1.76	1.73	1.65	1.65	1.20	1.27	1.01	1.18
Debt to Total Capital	28.70%	31.88%	31.41%	29.41%	30.79%	29.28%	27.74%	30.97%	31.70%	30.32%
Short-Term Debt to Total Capital	0.25%	0.29%	0.23%	0.17%	0.17%	0.11%	0.06%	0.46%	0.00%	0.93%
Long-Term Debt to Total Capital	28.45%	31.59%	31.18%	29.24%	30.62%	29.17%	27.68%	30.51%	31.70%	29.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.93%	1.78%	1.77%	1.80%	1.74%	1.74%	1.79%	1.77%	1.76%	1.77%
Common Equity to Total Capital	69.36%	66.34%	66.82%	68.79%	67.47%	68.98%	70.47%	67.26%	66.54%	67.91%
Debt to EBITDA	0.92	1.13	1.15	1.10	1.26	1.37	1.37	1.64	1.79	1.78
Net Debt to EBITDA	0.72	0.95	0.93	1.02	1.19	1.24	1.23	1.47	1.65	1.67
Long-Term Debt to EBITDA	0.92	1.12	1.14	1.10	1.26	1.36	1.36	1.62	1.79	1.73
Debt to NOPAT	2.26	2.84	3.12	3.20	4.02	4.84	5.72	7.98	10.12	12.44
Net Debt to NOPAT	1.77	2.40	2.54	2.97	3.78	4.38	5.14	7.14	9.32	11.66
Long-Term Debt to NOPAT	2.24	2.81	3.10	3.18	4.00	4.82	5.71	7.86	10.12	12.05
Altman Z-Score	3.25	3.12	3.20	3.16	2.94	3.06	3.03	2.87	2.83	2.84
Noncontrolling Interest Sharing Ratio	2.72%	2.62%	2.64%	2.66%	2.61%	2.54%	2.53%	2.56%	2.54%	2.50%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.41	2.46	2.34	1.93	1.96	1.92	1.90	1.69	1.53	1.52
Quick Ratio	2.13	2.12	2.04	1.64	1.57	1.61	1.60	1.48	1.30	1.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-168	-265	-352	-321	-296	-56	-12	52	90	63
Operating Cash Flow to CapEx	64.77%	182.65%	162.39%	75.90%	61.87%	342.67%	465.38%	109.99%	69.44%	246.80%
Free Cash Flow to Firm to Interest Expense	-60.42	-45.58	-44.44	-39.49	-34.17	-6.34	-1.52	5.70	8.09	5.68
Operating Cash Flow to Interest Expense	23.47	19.92	21.08	14.12	8.57	13.42	11.15	12.06	5.50	6.38
Operating Cash Flow Less CapEx to Interest Expense	-12.76	9.01	8.10	-4.49	-5.28	9.50	8.75	1.10	-2.42	3.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.20	1.15	1.16	1.12	1.10	1.05	1.04	1.02	0.98	0.98
Accounts Receivable Turnover	6.58	6.37	6.95	5.96	6.69	6.44	6.90	6.97	7.00	6.82
Inventory Turnover	113.95	174.18	110.04	101.58	95.30	141.32	87.28	85.94	82.79	81.23
Fixed Asset Turnover	1.92	1.91	1.94	1.84	1.79	1.73	1.70	1.62	1.55	1.55
Accounts Payable Turnover	13.48	20.46	12.26	11.81	11.71	17.69	10.56	10.60	9.22	10.55
Days Sales Outstanding (DSO)	55.46	57.34	52.49	61.23	54.58	56.64	52.88	52.34	52.17	53.50
Days Inventory Outstanding (DIO)	3.20	2.10	3.32	3.59	3.83	2.58	4.18	4.25	4.41	4.49
Days Payable Outstanding (DPO)	27.08	17.84	29.77	30.90	31.16	20.63	34.55	34.42	39.57	34.60
Cash Conversion Cycle (CCC)	31.58	41.60	26.04	33.92	27.25	38.59	22.51	22.16	17.01	23.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,873	2,069	2,071	2,130	2,198	2,154	2,094	2,093	2,122	2,103
Invested Capital Turnover	1.81	1.73	1.79	1.71	1.63	1.56	1.55	1.50	1.43	1.42
Increase / (Decrease) in Invested Capital	226	332	392	357	325	85	23	-37	-76	-51
Enterprise Value (EV)	2,815	3,099	3,419	3,392	3,119	3,270	3,037	2,901	3,050	2,859
Market Capitalization	2,329	2,474	2,819	2,759	2,433	2,645	2,461	2,263	2,376	2,211
Book Value per Share	$21.86	$22.84	$23.25	$23.62	$23.86	$24.11	$23.92	$22.95	$23.44	$23.56
Tangible Book Value per Share	$19.88	$19.45	$19.72	$20.14	$20.42	$20.71	$20.56	$19.63	$20.07	$20.23
Total Capital	1,999	2,176	2,201	2,176	2,241	2,216	2,154	2,164	2,177	2,144
Total Debt	574	694	691	640	690	649	598	670	690	650
Total Long-Term Debt	569	688	686	636	686	646	596	660	690	630
Net Debt	448	587	562	593	647	587	537	600	635	609
Capital Expenditures (CapEx)	101	64	103	151	120	35	19	99	88	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	307	352	282	251	276	245	224	175	135	165
Debt-free Net Working Capital (DFNWC)	433	459	411	298	319	307	285	245	189	206
Net Working Capital (NWC)	428	453	406	294	315	304	283	235	189	186
Net Nonoperating Expense (NNE)	1.78	5.57	4.88	5.31	5.67	5.95	4.21	5.67	6.93	0.80
Net Nonoperating Obligations (NNO)	448	587	562	593	647	587	537	600	635	609
Total Depreciation and Amortization (D&A)	70	74	74	75	75	76	74	73	72	72
Debt-free, Cash-free Net Working Capital to Revenue	9.62%	10.70%	8.39%	7.54%	8.31%	7.46%	6.96%	5.51%	4.35%	5.45%
Debt-free Net Working Capital to Revenue	13.55%	13.96%	12.25%	8.94%	9.60%	9.34%	8.84%	7.74%	6.11%	6.80%
Net Working Capital to Revenue	13.40%	13.77%	12.10%	8.83%	9.48%	9.26%	8.80%	7.42%	6.11%	6.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.87	$0.95	$0.56	$0.47	$0.37	$0.37	$0.10	$0.15	$0.11	$0.19
Adjusted Weighted Average Basic Shares Outstanding	63.39M	64.13M	63.31M	63.38M	63.39M	63.37M	63.47M	62.71M	61.81M	62.45M
Adjusted Diluted Earnings per Share	$0.86	$0.94	$0.55	$0.47	$0.37	$0.37	$0.10	$0.15	$0.11	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	63.78M	64.58M	63.70M	63.69M	63.74M	63.72M	63.73M	62.86M	62.02M	62.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	63.20M	63.25M	63.38M	63.39M	63.39M	63.47M	63.41M	61.81M	61.81M	61.87M
Normalized Net Operating Profit after Tax (NOPAT)	58	67	40	35	29	29	10	15	13	12
Normalized NOPAT Margin	6.97%	7.73%	4.85%	4.36%	3.57%	3.55%	1.36%	1.95%	1.81%	1.64%
Pre Tax Income Margin	8.93%	9.40%	5.64%	4.94%	3.73%	3.67%	1.21%	1.59%	1.15%	1.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	27.47	18.91	6.74	5.80	4.34	4.25	1.98	2.17	1.58	1.92
NOPAT to Interest Expense	20.77	11.43	5.11	4.34	3.37	3.31	1.32	1.64	1.21	1.11
EBIT Less CapEx to Interest Expense	-8.77	8.01	-6.24	-12.81	-9.51	0.34	-0.42	-8.80	-6.34	-0.66
NOPAT Less CapEx to Interest Expense	-15.46	0.53	-7.87	-14.27	-10.48	-0.61	-1.08	-9.32	-6.71	-1.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.20%	13.74%	15.07%	18.90%	23.40%	30.46%	42.01%	57.10%	78.04%	104.46%
Augmented Payout Ratio	73.77%	58.69%	47.89%	23.44%	23.40%	30.46%	49.90%	164.99%	226.39%	304.24%

Key Financial Trends

Werner Enterprises’ Q4 2024 results show solid cash generation and a strong balance sheet, offset by ongoing top‐line pressure and margin compression. Operating revenue declined 8.2% year‐over‐year to $754.7 million, while free cash flow remained healthy. The company maintains low leverage, but profitability metrics remain under stress.

Q4’24 net cash from operating activities of $71.0 million, bolstering liquidity.
Free cash flow to firm of $63.2 million in Q4’24, reflecting strong cash generation.
Net debt/EBITDA ratio of 1.67x in Q4’24, indicating conservative leverage.
Sequential revenue growth of 1.2% in Q4’24, suggesting modest improvement over Q3.
Dividend yield steady at ~1.57%, maintaining shareholder return policy.
Invested capital turnover of ~1.42x, underscoring efficient asset utilization.
Current ratio of 1.52x, ensuring ample coverage of short‐term obligations.
Revenue down 8.18% YoY to $754.7 million, marking continued top‐line pressure.
EBITDA declined 17.6% YoY to $93.3 million, reflecting margin compression.
Net income fell 50.1% YoY to $11.6 million, highlighting strained profitability.

06/23/25 12:51 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Werner Enterprises' Financials

When does Werner Enterprises' fiscal year end?

According to the most recent income statement we have on file, Werner Enterprises' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Werner Enterprises' net income changed over the last 10 years?

Werner Enterprises' net income were at $33.57 million at the end of 2024, a 70.1% decrease from 2023, and a 66.0% decrease since 2014. View Werner Enterprises' forecast to see where analysts expect Werner Enterprises to go next.

What is Werner Enterprises' operating income?

Werner Enterprises' total operating income in 2024 was $66.15 million, based on the following breakdown:

Total Gross Profit: $1.72 billion
Total Operating Expenses: $1.65 billion

How has Werner Enterprises' revenue changed over the last 10 years?

Over the last 10 years, Werner Enterprises' total revenue changed from $2.14 billion in 2014 to $3.03 billion in 2024, a change of 41.6%.

How much debt does Werner Enterprises have?

Werner Enterprises' total liabilities were at $1.56 billion at the end of 2024, a 2.1% decrease from 2023, and a 141.0% increase since 2014.

How much cash does Werner Enterprises have?

In the past 10 years, Werner Enterprises' cash and equivalents has ranged from $13.63 million in 2017 to $107.24 million in 2022, and is currently $40.75 million as of their latest financial filing in 2024.

How has Werner Enterprises' book value per share changed over the last 10 years?

Over the last 10 years, Werner Enterprises' book value per share changed from 11.60 in 2014 to 23.56 in 2024, a change of 103.0%.

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This page (NASDAQ:WERN) was last updated on 6/23/2025 by MarketBeat.com Staff

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Werner Enterprises (WERN) Financials

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Werner Enterprises (WERN) Financials

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