WERN (WERN) financial statements
WERN reported revenue of $3.0B in fiscal 2025, up 4.5% a year over 9 years.
Net income was -$14M and the operating margin 0.4%, against 6.3% in 2016.
Free cash flow was -$69M, and the company returned $34M in dividends and $56M in net buybacks.
The diluted share count fell 16% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WERN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B | $2.1B | $2.5B | $2.5B | $2.4B | $2.7B | $3.3B | $3.3B | $3.0B | $3.0B |
| Operating income | $126M | $144M | $224M | $225M | $227M | $309M | $323M | $176M | $66M | $12M |
| Interest expense | $3M | $2M | $3M | $7M | $4M | $4M | $12M | $34M | $39M | $39M |
| Pre-tax income | $127M | $145M | $224M | $222M | $225M | $346M | $325M | $148M | $42M | -$21M |
| Income tax | $48M | -$58M | $56M | $55M | $56M | $85M | $79M | $35M | $9M | $2M |
| Net income | $79M | $203M | $168M | $167M | $169M | $259M | $241M | $112M | $34M | -$14M |
| EPS (diluted) | $1.09 | $2.80 | $2.33 | $2.38 | $2.44 | $3.82 | $3.74 | $1.76 | $0.55 | -$0.24 |
| Diluted shares | 72M | 73M | 72M | 70M | 69M | 68M | 65M | 64M | 63M | 61M |
| Operating margin | 6.3% | 6.8% | 9.1% | 9.2% | 9.6% | 11.3% | 9.8% | 5.4% | 2.2% | 0.4% |
| Net margin | 3.9% | 9.6% | 6.8% | 6.8% | 7.1% | 9.5% | 7.3% | 3.4% | 1.1% | -0.5% |
Balance sheet
Fiscal years, from WERN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $17M | $14M | $34M | $26M | $29M | $54M | $107M | $62M | $41M | $60M |
| Receivables | $261M | $304M | $338M | $323M | $341M | $461M | $519M | $445M | $392M | $395M |
| Inventory | $13M | $12M | $10M | $9M | $12M | $11M | $15M | $18M | $14M | $12M |
| Total current assets | $373M | $400M | $457M | $466M | $457M | $631M | $763M | $635M | $542M | $613M |
| Property, plant and equipment | $1.4B | $1.3B | $1.5B | $1.5B | $1.5B | $1.6B | $1.8B | $2.0B | $1.9B | $1.8B |
| Goodwill | — | — | — | — | $0 | $75M | $133M | $129M | $129M | $129M |
| Total assets | $1.8B | $1.8B | $2.1B | $2.1B | $2.2B | $2.6B | $3.1B | $3.2B | $3.1B | $2.9B |
| Total current liabilities | $215M | $232M | $310M | $309M | $274M | $269M | $310M | $331M | $356M | $315M |
| Long-term debt | — | — | — | — | $175M | $422M | $688M | $646M | $630M | $752M |
| Total liabilities | $798M | $623M | $819M | $1.0B | $962M | $1.2B | $1.6B | $1.6B | $1.6B | $1.5B |
| Shareholders' equity | $995M | $1.2B | $1.3B | $1.1B | $1.2B | $1.3B | $1.4B | $1.5B | $1.5B | $1.4B |
| Net debt | -$17M | -$14M | -$34M | -$26M | $171M | $373M | $587M | $587M | $609M | $692M |
Cash flow
Fiscal years, from WERN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $310M | $283M | $418M | $427M | $446M | $333M | $449M | $474M | $330M | $182M |
| Capital spending | $538M | $316M | $520M | $421M | $413M | $371M | $507M | $599M | $414M | $250M |
| Free cash flow | -$228M | -$34M | -$102M | $6M | $33M | -$38M | -$59M | -$124M | -$84M | -$69M |
| Stock-based compensation | $2M | $5M | $7M | $8M | $9M | $11M | $12M | $12M | $9M | $11M |
| Dividends paid | $17M | $19M | $23M | $286M | $25M | $29M | $32M | $34M | $35M | $34M |
| Share buybacks (net) | $0 | $0 | -$72M | -$42M | -$57M | -$104M | -$110M | $0 | -$67M | -$56M |
| Net borrowing | — | — | — | $175M | -$50M | $250M | $270M | -$40M | -$16M | $105M |
| Free cash flow margin | -11.4% | -1.6% | -4.1% | 0.2% | 1.4% | -1.4% | -1.8% | -3.8% | -2.8% | -2.3% |
| Dividends per share | $0.24 | $0.26 | $0.32 | $4.09 | $0.36 | $0.43 | $0.50 | $0.54 | $0.56 | $0.56 |
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Open WERN in InvestinglyQuestions
What was WERN's revenue in 2025?
$3.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does WERN generate?
-$69M in fiscal 2025 (operating cash flow minus capital spending).
From WERN's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.