Werner Enterprises
Financial Performance
Werner Enterprises Revenue & Financials
Revenue
$3B (FY2025)
Market Cap
$2.2B
Employees
14,500
What is Werner Enterprises's revenue?
Werner Enterprises had $3B in revenue for fiscal year 2025, down 1.8% from 2024. It reported a net loss of $14.4M.
- Latest revenue
- $3B (FY2025)
- Year-over-year
- -1.8%
- Growth rate (CAGR)
- 4.5% over 9 years
- Peak revenue
- $3.3B (FY2022)
- Years of data
- 10
- Employees
- 14,500
- What is Werner Enterprises's operating income?
- Werner Enterprises reported operating income of $11.7M for fiscal year 2025. sec.gov
- How much profit does Werner Enterprises make?
- Werner Enterprises reported a net loss of $14.4M for fiscal year 2025. sec.gov
- How many employees does Werner Enterprises have?
- Werner Enterprises has about 14,500 employees.
Financial Analysis
Operating revenues have fallen from $3.29 billion in FY2022 to $2.97 billion in FY2025 as truckload rates weakened, and FY2025 ended with a $14.4 million net loss attributable to Werner. In 2026 revenue grew again because of FirstFleet: Q2 2026 revenue was $933.9 million, up 24% year over year, with TTS revenue up 36%. GAAP operating income fell to $16.9 million because the prior-year quarter included $53.6 million of favorable liability reversals. Adjusted operating income rose 67% to $27.6 million and adjusted diluted EPS was $0.22.
Revenue Trend Analysis
YoY Change
-1.8%
9-Year CAGR
+4.5%
Peak Year
2022
Trend
Mostly Growing
Werner Enterprises has 10 full fiscal year figures on this page, compounding at +4.5% annually over 9 years. The most recent year saw a 1.8% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $3.3B. Of 9 comparable year-over-year steps, 5 showed growth and 4 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $3B | $11.7M | -$14.4M | -1.8% | Werner Enterprises, Inc. FY2025 Form 10-K (SEC EDGAR) Fiscal year ended 2025-12-31.; net loss attributable to Werner. |
| FY2024 | $3B | $66.1M | $34.2M | -7.7% | Werner Enterprises, Inc. FY2025 Form 10-K (SEC EDGAR) Fiscal year ended 2024-12-31. |
| FY2023 | $3.3B | $176.4M | $112.4M | -0.2% | Werner Enterprises, Inc. FY2025 Form 10-K (SEC EDGAR) Fiscal year ended 2023-12-31. |
| FY2022 | $3.3B | $323.1M | $241.3M | +20.3% | Werner Enterprises, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2022-12-31. |
| FY2021 | $2.7B | $309.1M | $259.1M | +15.3% | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2024-02-26) Fiscal year ended 2021-12-31. |
| FY2020 | $2.4B | $227.4M | $169.1M | -3.7% | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2023-02-27) Fiscal year ended 2020-12-31. |
| FY2019 | $2.5B | $225.5M | $166.9M | +0.2% | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2022-02-28) Fiscal year ended 2019-12-31. |
| FY2018 | $2.5B | $224.2M | $168.1M | +16.1% | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2021-02-24) Fiscal year ended 2018-12-31. |
| FY2017 | $2.1B | $143.8M | $202.9M | +5.4% | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2020-02-27) Fiscal year ended 2017-12-31. |
| FY2016 | $2B | $126.1M | $79.1M | — | Werner Enterprises annual report (Form 10-K, SEC EDGAR, filed 2019-03-01) Fiscal year ended 2016-12-31. |
Click any row to see year details.
Werner Enterprises balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $181.8M | $250.4M | $2.9B | $1.5B | $1.4B | -$68.5M | Form 10-K |
| FY2024ended Dec 31, 2024 | $329.7M | $413.8M | $3.1B | $1.6B | $1.5B | -$84.1M | Form 10-K |
| FY2023ended Dec 31, 2023 | $474.4M | $598.8M | $3.2B | $1.6B | $1.5B | -$124.4M | Form 10-K |
| FY2022ended Dec 31, 2022 | $448.7M | $507.3M | $3.1B | $1.6B | $1.4B | -$58.5M | Form 10-K |
| FY2021ended Dec 31, 2021 | $332.8M | $370.9M | $2.6B | $1.2B | $1.3B | -$38M | Form 10-K |
| FY2020ended Dec 31, 2020 | $445.9M | $413.1M | $2.2B | $961.6M | $1.2B | $32.8M | Form 10-K |
| FY2019ended Dec 31, 2019 | $426.6M | $420.7M | $2.1B | — | $1.1B | $5.9M | Form 10-K |
| FY2018ended Dec 31, 2018 | $418.2M | $519.9M | $2.1B | — | $1.3B | -$101.7M | Form 10-K |
| FY2017ended Dec 31, 2017 | $282.8M | $316.3M | $1.8B | — | $1.2B | -$33.5M | Form 10-K |
| FY2016ended Dec 31, 2016 | $309.7M | $537.8M | $1.8B | — | $994.8M | -$228.2M | Form 10-K |
Keep researching Werner Enterprises
Werner Enterprises Revenue and Financial FAQ
What was Werner Enterprises' total revenue in fiscal year 2025?
Werner Enterprises reported $2.974 billion in total revenues in fiscal year 2025, navigating a cyclical freight downturn while maintaining disciplined cost management across TTS and Logistics.
What is an Operating Ratio (OR) and why is it important for Werner?
Operating Ratio (operating expenses divided by operating revenue) measures trucking efficiency; a lower ratio indicates higher profitability. Werner strives for an adjusted OR in the mid-80s to low-90s.
How did Werner finance the $282.8 million FirstFleet acquisition in 2026?
Werner financed FirstFleet using available cash balances, existing revolving credit facility borrowings, and assumed equipment leases, maintaining a conservative net debt-to-EBITDA ratio.
How long has Werner paid continuous quarterly dividends?
Werner has paid consecutive quarterly cash dividends every single quarter since July 1987, reflecting more than 38 consecutive years of continuous shareholder capital returns.
What was the financial impact of the 2025 accident litigation dismissal?
In Q2 2025, long-running litigation stemming from a 2014 highway accident was dismissed, enabling Werner to reverse $53.6 million in accrued legal liabilities and contingent reserves.
What is Werner's annual net capital expenditure strategy?
Werner invests hundreds of millions annually in net capital expenditures to maintain an exceptionally young fleet (average tractor age under 2.3 years), reducing maintenance downtime and fuel burn.
How much revenue did FirstFleet add to Werner's top line?
FirstFleet brought over $615 million in trailing twelve-month revenue and 2,400 dedicated tractors, targeting $18 million in annual cost synergies across procurement and operations.
What is Werner's liquidity position and balance sheet strength?
Werner maintains over $500 million in available liquidity across cash and undrawn credit facilities, underpinned by valuable owned fleet assets, maintenance terminals, and real estate.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Werner Enterprises Revenue & Financials." CorpDigest, https://corpdigest.com/company/werner/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Werner Enterprises reported $3B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/werner/financials" target="_blank" rel="noopener">CorpDigest — Werner Enterprises financials</a></div>Related Financial Audits
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