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Werner Enterprises, Inc. (WERN) 10-Year Financial Performance & Capital Metrics

WERN • • Industrial / General
IndustrialsTruckingTruckload CarriersGeneral Truckload Carriers
AboutWerner Enterprises, Inc., a transportation and logistics company, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. It operates through Truckload Transportation Services and Werner Logistics segments. The Truckload Transportation Services segment operates medium-to-long-haul van fleet that transports various consumer nondurable products and other commodities in truckload quantities using dry van trailers; the expedited fleet, which offers time-sensitive truckload services using driver teams; regional short-haul fleet that provides comparable truckload van service in the United States; and temperature controlled fleet, which offers truckload services for temperature sensitive products using temperature-controlled trailers. It transports retail store merchandise, consumer products, food and beverage products, and manufactured products. The Werner Logistics segment provides non-asset-based transportation and logistics services, including truck brokerage; logistics management services and solutions; rail transportation through alliances with rail and drayage providers; and residential and commercial deliveries of large or heavy items using liftgate straight truck. As of December 31, 2021, the company had a fleet of 8,340 trucks, which included 8,050 company-operated, as well as 290 owned and operated by independent contractors;27,225 company-owned trailers that comprised dry vans, flatbeds, temperature-controlled, and other trailers; and 55 intermodal drayage trucks. Werner Enterprises, Inc. was founded in 1956 and is headquartered in Omaha, Nebraska.Show more
  • Revenue $3.03B -7.7%
  • EBITDA $357M -25.1%
  • Net Income $34M -69.5%
  • EPS (Diluted) 0.55 -68.8%
  • Gross Margin 11.18% -13.4%
  • EBITDA Margin 11.77% -18.8%
  • Operating Margin 2.18% -59.4%
  • Net Margin 1.13% -67.0%
  • ROE 2.24% -69.7%
  • ROIC 2.28% -62.9%
  • Debt/Equity 0.47 +7.4%
  • Interest Coverage 1.69 -67.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading at only 1.4x book value

✗Weaknesses

  • ✗Profits declining 27.2% over 5 years
  • ✗Negative free cash flow
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.54%
5Y4.23%
3Y3.48%
TTM-3.42%

Profit (Net Income) CAGR

10Y-10.04%
5Y-27.16%
3Y-49.06%
TTM-44.94%

EPS CAGR

10Y-8.66%
5Y-25.4%
3Y-47.59%
TTM-43.76%

ROCE

10Y Avg10.5%
5Y Avg9.38%
3Y Avg6.94%
Latest2.4%

Peer Comparison

General Truckload Carriers
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Size & Scale
Valuation
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KNXKnight-Swift Transportation Holdings Inc.9.34B57.5178.783.76%1.9%2%0.40
WERNWerner Enterprises, Inc.2.01B33.5460.98-7.71%0.85%1.77%0.47
YGMZMingZhu Logistics Holdings Limited23.08K0.00-0.00-54.57%-15.3%-13.83%0.08
PAMTPamt Corp.252.58M12.07-8.27-11.86%-7.16%-19.16%1.17
HTLDHeartland Express, Inc.826.37M10.67-28.08-13.25%-3.85%-4.56%4.21%0.25

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.09B2.01B2.12B2.46B2.46B2.37B2.73B3.29B3.28B3.03B
Revenue Growth %-0.02%-0.04%0.05%0.16%0%-0.04%0.15%0.2%-0%-0.08%
Cost of Goods Sold+1.71B1.68B1.77B2.04B2.04B1.91B2.26B2.77B2.86B2.69B
COGS % of Revenue0.82%0.84%0.84%0.83%0.83%0.81%0.83%0.84%0.87%0.89%
Gross Profit+385.09M324.42M344.91M418.06M427.41M460.89M477.93M521.59M423.65M338.63M
Gross Margin %0.18%0.16%0.16%0.17%0.17%0.19%0.17%0.16%0.13%0.11%
Gross Profit Growth %0.12%-0.16%0.06%0.21%0.02%0.08%0.04%0.09%-0.19%-0.2%
Operating Expenses+184.63M198.35M201.09M193.84M201.94M233.46M168.79M198.51M247.24M272.48M
OpEx % of Revenue0.09%0.1%0.09%0.08%0.08%0.1%0.06%0.06%0.08%0.09%
Selling, General & Admin95.97M99.97M96.03M114.2M104.22M124.29M112.12M163.22M157M162.59M
SG&A % of Revenue0.05%0.05%0.05%0.05%0.04%0.05%0.04%0.05%0.05%0.05%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses-196K-191K-328K-376K97.72M109.17M56.67M35.29M90.24M109.89M
Operating Income+200.46M126.07M143.82M224.22M225.47M227.44M309.15M323.08M176.42M66.15M
Operating Margin %0.1%0.06%0.07%0.09%0.09%0.1%0.11%0.1%0.05%0.02%
Operating Income Growth %0.25%-0.37%0.14%0.56%0.01%0.01%0.36%0.05%-0.45%-0.63%
EBITDA+393.67M335.8M361.46M454.37M475M490.72M576.85M603M475.93M356.55M
EBITDA Margin %0.19%0.17%0.17%0.18%0.19%0.21%0.21%0.18%0.14%0.12%
EBITDA Growth %0.17%-0.15%0.08%0.26%0.05%0.03%0.18%0.05%-0.21%-0.25%
D&A (Non-Cash Add-back)193.21M209.73M217.64M230.15M249.53M263.29M267.7M279.92M299.51M290.4M
EBIT177.22M130.04M137.02M199.32M228.76M228.91M350.44M336.61M181.32M81.69M
Net Interest Income+901K1.58M1.06M42K-3.53M-2.58M-3.21M-10.1M-26.83M-32.31M
Interest Income2.88M4.16M3.31M2.74M3.33M1.63M1.21M1.73M6.7M6.9M
Interest Expense1.97M2.58M2.24M2.69M6.85M4.21M4.42M11.83M33.53M39.21M
Other Income/Expense705K1.39M737K-334K-3.57M-2.74M36.87M1.71M-28.64M-23.67M
Pretax Income+201.16M127.46M144.56M223.88M221.91M224.69M346.01M324.79M147.78M42.48M
Pretax Margin %0.1%0.06%0.07%0.09%0.09%0.09%0.13%0.1%0.05%0.01%
Income Tax+77.45M48.33M-58.33M55.73M54.96M55.62M84.54M79.21M35.49M8.91M
Effective Tax Rate %0.61%0.62%1.4%0.75%0.75%0.75%0.75%0.74%0.76%0.81%
Net Income+123.71M79.13M202.89M168.15M166.94M169.08M259.05M241.26M112.38M34.23M
Net Margin %0.06%0.04%0.1%0.07%0.07%0.07%0.09%0.07%0.03%0.01%
Net Income Growth %0.25%-0.36%1.56%-0.17%-0.01%0.01%0.53%-0.07%-0.53%-0.7%
Net Income (Continuing)123.71M79.13M202.89M168.15M166.94M169.08M261.48M245.58M112.29M33.57M
Discontinued Operations0000000000
Minority Interest00000035.95M38.7M38.61M37.94M
EPS (Diluted)+1.711.092.802.332.382.443.823.741.760.55
EPS Growth %0.26%-0.36%1.57%-0.17%0.02%0.03%0.57%-0.02%-0.53%-0.69%
EPS (Basic)1.721.102.802.392.402.453.843.761.770.55
Diluted Shares Outstanding72.56M72.39M72.56M72.06M70.03M69.43M67.86M64.58M63.72M62.66M
Basic Shares Outstanding72M72.17M72.41M70.44M69.57M69.02M67.43M64.13M63.44M62.45M
Dividend Payout Ratio0.12%0.22%0.09%0.14%1.71%0.15%0.11%0.13%0.3%1.02%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+407.54M373.13M400.23M456.66M466.33M456.92M631.21M762.62M634.63M541.77M
Cash & Short-Term Investments31.83M16.96M13.63M33.93M33.44M29.33M54.2M107.24M61.72M40.75M
Cash Only31.83M16.96M13.63M33.93M33.44M29.33M54.2M107.24M61.72M40.75M
Short-Term Investments0000000000
Accounts Receivable251.02M276.54M330.67M364.47M386.66M375.3M497.35M560.28M470.42M417.82M
Days Sales Outstanding43.7750.2457.0254.1257.2857.7566.3962.1652.2950.33
Inventory16.41M12.77M11.69M10.06M9.24M12.06M11.14M14.53M18.08M14.18M
Days Inventory Outstanding3.512.772.411.81.662.31.81.922.311.92
Other Current Assets64.57M66.65M54.76M31.58M20.23M22.99M50.98M62.87M67.9M15.33M
Total Non-Current Assets+1.21B1.42B1.41B1.63B1.68B1.78B2.05B2.42B2.52B2.51B
Property, Plant & Equipment1.15B1.36B1.35B1.49B1.54B1.55B1.64B1.87B1.97B1.93B
Fixed Asset Turnover1.81x1.47x1.57x1.65x1.60x1.53x1.67x1.76x1.66x1.57x
Goodwill00000074.62M132.72M129.1M129.1M
Intangible Assets00000055.31M81.5M86.48M76.41M
Long-Term Investments40.39M48.49M46.77M47.67M47.73M44.37M41.1M128.55M-233.7M76.34M
Other Non-Current Assets23.64M-235.53M-134.29M-94.17M92.15M102.18M159.76M125.63M248.29M294.38M
Total Assets+1.61B1.79B1.81B2.08B2.14B2.24B2.68B3.18B3.16B3.05B
Asset Turnover1.30x1.12x1.17x1.18x1.15x1.06x1.02x1.03x1.04x0.99x
Asset Growth %0.09%0.11%0.01%0.15%0.03%0.04%0.2%0.19%-0.01%-0.03%
Total Current Liabilities+183.7M214.86M232.18M310.36M308.84M274.01M268.68M309.52M330.58M355.75M
Accounts Payable70.64M66.62M73.8M97.78M94.63M83.26M93.99M124.48M135.99M112.43M
Days Payables Outstanding15.0914.4315.217.516.9615.915.216.4117.3615.25
Short-Term Debt020M21.54M75M78.58M28.42M11.38M15.65M2.5M20M
Deferred Revenue (Current)01000K1000K1000K000000
Other Current Liabilities87.83M102.05M104.32M30M97.28M126.74M118.98M119.6M132.53M40.95M
Current Ratio2.22x1.74x1.72x1.47x1.51x1.67x2.35x2.46x1.92x1.52x
Quick Ratio2.13x1.68x1.67x1.44x1.48x1.62x2.31x2.42x1.87x1.48x
Cash Conversion Cycle32.1838.5744.2238.4341.9844.1552.9947.6637.2437
Total Non-Current Liabilities+494.33M583.36M391.03M508.39M724.02M768.03M1.05B1.39B1.26B1.2B
Long-Term Debt75M160M75M50M225M175M422.5M687.5M646.25M630M
Capital Lease Obligations00008.15M6.95M22.63M32.9M27.5M36.41M
Deferred Tax Liabilities274.3M292.77M195.19M233.45M249.67M318.28M348.57M397.84M320.18M269.52M
Other Non-Current Liabilities145.03M130.59M120.84M224.94M241.19M267.8M257.9M271.73M266.48M266.69M
Total Liabilities678.03M798.22M623.21M818.75M1.03B1.04B1.32B1.7B1.59B1.56B
Total Debt+75M180M96.54M125M311.74M210.37M456.51M736.04M685.26M701.76M
Net Debt43.17M163.04M82.91M91.07M278.29M181.04M402.32M628.8M623.54M661.01M
Debt / Equity0.08x0.18x0.08x0.10x0.28x0.18x0.33x0.50x0.44x0.47x
Debt / EBITDA0.19x0.54x0.27x0.28x0.66x0.43x0.79x1.22x1.44x1.97x
Net Debt / EBITDA0.11x0.49x0.23x0.20x0.59x0.37x0.70x1.04x1.31x1.85x
Interest Coverage101.55x48.92x64.12x83.20x32.90x53.96x69.90x27.31x5.26x1.69x
Total Equity+935.65M994.79M1.18B1.26B1.11B1.2B1.36B1.48B1.57B1.49B
Equity Growth %0.12%0.06%0.19%0.07%-0.12%0.08%0.14%0.09%0.06%-0.05%
Book Value per Share12.9013.7416.3317.5515.8717.2120.0922.9524.5923.84
Total Shareholders' Equity935.65M994.79M1.18B1.26B1.11B1.2B1.33B1.44B1.53B1.46B
Common Stock805K805K805K805K805K805K805K805K805K805K
Retained Earnings1.02B1.08B1.27B1.41B1.29B1.44B1.67B1.88B1.95B1.95B
Treasury Stock-177.79M-174.93M-170.62M-241.18M-282.33M-337.89M-441.66M-551.59M-551.06M-617.1M
Accumulated OCI-13.06M-16.92M-15.84M-16.07M-14.73M-22.83M-20.6M-11.29M-9.68M-18.44M
Minority Interest00000035.95M38.7M38.61M37.94M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+370.39M312.4M281.84M418.16M426.64M445.91M332.82M448.71M474.37M329.73M
Operating CF Margin %0.18%0.16%0.13%0.17%0.17%0.19%0.12%0.14%0.14%0.11%
Operating CF Growth %0.79%-0.16%-0.1%0.48%0.02%0.05%-0.25%0.35%0.06%-0.3%
Net Income123.71M79.13M202.89M168.15M166.94M169.08M261.48M245.58M112.29M33.57M
Depreciation & Amortization193.21M209.73M217.64M230.15M249.53M263.29M267.7M279.92M299.51M290.4M
Stock-Based Compensation4.36M2.38M4.55M7.39M8.08M8.9M10.81M12.49M11.94M8.86M
Deferred Taxes38.44M44.63M-100.95M37.69M16.4M-10.23M29.49M42.55M8.15M-50.2M
Other Non-Cash Items-12.39M-31.12M-24.36M-3.1M-10.73M5.79M-98.37M-106.33M-53.97M-35.89M
Working Capital Changes23.05M7.65M-17.93M-22.13M-3.58M9.09M-138.29M-25.5M96.44M83M
Change in Receivables15.7M-10.35M-42.8M-33.75M15.08M-18.26M-101.01M3.17M73.92M53.26M
Change in Inventory0000000000
Change in Payables7.26M-5.27M5.83M7.56M-7.54M-2.48M14.74M-3.67M3.29M-10.39M
Cash from Investing+-335.55M-410.25M-183.81M-331.37M-272.31M-263.27M-397.3M-514.33M-434.94M-241.45M
Capital Expenditures-454.1M-537.84M-316.34M-519.87M-420.75M-413.06M-370.85M-507.25M-598.78M-413.8M
CapEx % of Revenue0.22%0.27%0.15%0.21%0.17%0.17%0.14%0.15%0.18%0.14%
Acquisitions----------
Investments----------
Other Investing118.55M127.58M132.53M188.5M11.57M154.79M185.39M197.29M170.34M180.28M
Cash from Financing+-24.99M83.37M-101.42M-67.61M-155.22M-185.96M89.67M118.03M-87.07M-105.72M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-15.12M-17.29M-18.78M-23.01M-286.19M-24.89M-29.08M-32.16M-34.21M-35.07M
Share Repurchases----------
Other Financing-322K608K-22.63M-22.91M-1.9M0-4.3M-5.65M-7.86M-4.83M
Net Change in Cash----------
Free Cash Flow+-83.7M-225.44M-34.51M-101.71M5.9M32.84M-38.03M-58.54M-124.42M-84.06M
FCF Margin %-0.04%-0.11%-0.02%-0.04%0%0.01%-0.01%-0.02%-0.04%-0.03%
FCF Growth %0.07%-1.69%0.85%-1.95%1.06%4.57%-2.16%-0.54%-1.13%0.32%
FCF per Share-1.15-3.11-0.48-1.410.080.47-0.56-0.91-1.95-1.34
FCF Conversion (FCF/Net Income)2.99x3.95x1.39x2.49x2.56x2.64x1.28x1.86x4.22x9.63x
Interest Paid1.98M2.47M2.49M2.69M6.44M4.42M4.23M11.19M27.21M40.16M
Taxes Paid35.2M4.67M22.09M11.36M49.6M54.17M81.19M40.31M17.89M25.83M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)13.98%8.2%18.62%13.73%14.05%14.66%20.25%16.96%7.37%2.24%
Return on Invested Capital (ROIC)16.12%8.85%8.89%12.82%12.32%12.34%14.76%12.5%6.15%2.28%
Gross Margin18.39%16.15%16.29%17.01%17.35%19.43%17.48%15.85%12.9%11.18%
Net Margin5.91%3.94%9.59%6.84%6.78%7.13%9.47%7.33%3.42%1.13%
Debt / Equity0.08x0.18x0.08x0.10x0.28x0.18x0.33x0.50x0.44x0.47x
Interest Coverage101.55x48.92x64.12x83.20x32.90x53.96x69.90x27.31x5.26x1.69x
FCF Conversion2.99x3.95x1.39x2.49x2.56x2.64x1.28x1.86x4.22x9.63x
Revenue Growth-2.14%-4.04%5.36%16.12%0.24%-3.71%15.27%20.32%-0.2%-7.71%

Revenue by Segment

2015201620172018201920202021202220232024
Transportation Services------2.67B3.22B3.2B2.96B
Transportation Services Growth-------20.64%-0.42%-7.75%
Other revenue recognition segments------67.74M73.02M79.95M75.06M
Other revenue recognition segments Growth-------7.80%9.49%-6.12%
Subtotal2.09B2.01B2.12B2.46B2.46B2.37B----
Subtotal Growth--4.05%5.35%16.13%0.20%-3.72%----
Truckload Transportation Services1.64B1.53B1.64B1.88B1.91B1.84B----
Truckload Transportation Services Growth--6.74%6.60%15.05%1.51%-3.49%----
Value Added Services393.17M417.17M417.64M518.08M489.73M469.79M----
Value Added Services Growth-6.10%0.11%24.05%-5.47%-4.07%----
Other54.51M57.06M62.74M56.9M61.85M57.28M----
Other Growth-4.68%9.96%-9.31%8.69%-7.40%----
Corporate2.3M1.75M1.94M2.76M2.59M2.01M----
Corporate Growth--23.86%10.81%42.36%-6.16%-22.40%----
Intersegment Eliminations-1.33M-973K-829K-1.15M-243K-107K----
Intersegment Eliminations Growth-26.73%14.80%-38.60%78.85%55.97%----

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES1.82B1.76B1.84B2.15B2.19B2.14B2.53B3.05B3.09B2.85B
UNITED STATES Growth--3.34%4.39%16.74%2.17%-2.17%18.12%20.49%1.23%-7.61%
MEXICO191.45M183.06M210.23M233.12M197.47M149.44M156.41M191.13M159.17M147.76M
MEXICO Growth--4.38%14.84%10.89%-15.29%-24.32%4.66%22.20%-16.72%-7.17%
Others81.05M65.72M68.98M79.7M74.67M78.64M45.25M47.06M35.12M28.31M
Others Growth--18.92%4.97%15.53%-6.31%5.31%-42.46%4.02%-25.37%-19.39%

Frequently Asked Questions

Valuation & Price

Werner Enterprises, Inc. (WERN) has a price-to-earnings (P/E) ratio of 61.0x. This suggests investors expect higher future growth.

Growth & Financials

Werner Enterprises, Inc. (WERN) reported $2.99B in revenue for fiscal year 2024. This represents a 49% increase from $2.00B in 2011.

Werner Enterprises, Inc. (WERN) saw revenue decline by 7.7% over the past year.

Yes, Werner Enterprises, Inc. (WERN) is profitable, generating $25.3M in net income for fiscal year 2024 (1.1% net margin).

Dividend & Returns

Yes, Werner Enterprises, Inc. (WERN) pays a dividend with a yield of 1.67%. This makes it attractive for income-focused investors.

Werner Enterprises, Inc. (WERN) has a return on equity (ROE) of 2.2%. This is below average, suggesting room for improvement.

Werner Enterprises, Inc. (WERN) had negative free cash flow of $54.8M in fiscal year 2024, likely due to heavy capital investments.

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