Werner Enterprises, Inc. (WERN) Balance Sheet
WERN balance sheet, 2025
December 31, 2025 · U.S. dollars$2.89B assets = $1.50B liabilities + $1.39B equity
Both columns are drawn to the same scale: what WERN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WERN financial health
Descriptive bands, not a rating. Fiscal 2025.
WERN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.79B2016 | $2.89B2025 | +5.4%/yr | |
| Total liabilities | $798.2M2016 | $1.50B2025 | +7.2%/yr | |
| Shareholders’ equity | $994.8M2016 | $1.36B2025 | +3.6%/yr | |
| Cash & short-term investments | $17.0M2016 | $59.9M2025 | +15.1%/yr | |
| Total debt | $180.0M2016 | $752.0M2025 | +17.2%/yr | |
| Net cash (debt) | −$163.0M2016 | −$692.1M2025 | −$529.0M | |
| Working capital | $158.3M2016 | $296.1M2025 | +$137.9M | |
| Book value per share | $13.742016 | $22.492025 | +5.6%/yr | |
| Current ratio | 1.742016 | 1.942025 | +0.20 | |
| Debt / equity | 0.182016 | 0.552025 | +0.37 | |
| Shares outstanding | 72.4M2016 | 60.6M2025 | −2.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WERN assets
WERN liabilities and equity
WERN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WERN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $59.9M | $40.8M | $61.7M | $107.2M | $54.2M | $29.3M | $33.4M | $33.9M | $13.6M | $17.0M |
| Cash & equivalents | $59.9M | $40.8M | $61.7M | $107.2M | $54.2M | $29.3M | $33.4M | $33.9M | $13.6M | $17.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $415.3M | $417.8M | $470.4M | $560.3M | $497.4M | $375.3M | $386.7M | $364.5M | $330.7M | $276.5M |
| Inventory | $12.1M | $14.2M | $18.1M | $14.5M | $11.1M | $12.1M | $9.2M | $10.1M | $11.7M | $12.8M |
| Other current assets | $123.6M | $69.0M | $84.4M | $80.6M | $68.5M | $40.2M | $37.0M | $48.2M | $44.2M | $66.9M |
| Total current assets | $610.9M | $541.8M | $634.6M | $762.6M | $631.2M | $456.9M | $466.3M | $456.7M | $400.2M | $373.1M |
| Property, plant & equipment (net) | $1.83B | $1.93B | $1.97B | $1.87B | $1.64B | $1.55B | $1.54B | $1.49B | $1.35B | $1.36B |
| Goodwill & intangible assets | $173.7M | $205.5M | $215.6M | $214.2M | $129.9M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $271.9M | $370.7M | $334.8M | $338.7M | $280.9M | $227.0M | $139.9M | $139.3M | $60.9M | $57.2M |
| Total assets | $2.89B | $3.05B | $3.16B | $3.18B | $2.68B | $2.24B | $2.14B | $2.08B | $1.81B | $1.79B |
| Liabilities | ||||||||||
| Accounts payable | $95.1M | $112.4M | $136.0M | $124.5M | $94.0M | $83.3M | $94.6M | $97.8M | $73.8M | $66.6M |
| Short-term debt | — | $35.4M | $11.5M | $15.6M | $11.4M | $28.4M | $78.6M | $75.0M | $21.5M | $20.0M |
| Deferred revenue | — | — | $112.1M | $313.3M | $145.7M | $137.5M | $108.2M | $107.6M | $112.2M | $109.6M |
| Total current liabilities | $314.8M | $355.7M | $330.6M | $309.5M | $268.7M | $274.0M | $308.8M | $310.4M | $232.2M | $214.9M |
| Long-term debt | $752.0M | $630.0M | $646.2M | $687.5M | $422.5M | $175.0M | $225.0M | $50.0M | $75.0M | $160.0M |
| Other long-term liabilities | $429.0M | $572.6M | $614.2M | $702.5M | $629.1M | $593.0M | $499.0M | $458.4M | $316.0M | $423.4M |
| Total liabilities | $1.50B | $1.56B | $1.59B | $1.70B | $1.32B | $1.04B | $1.03B | $818.8M | $623.2M | $798.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 |
| Retained earnings (deficit) | $1.90B | $1.95B | $1.95B | $1.88B | $1.67B | $1.44B | $1.29B | $1.41B | $1.27B | $1.08B |
| Treasury stock | — | — | — | — | −$441.7M | −$337.9M | −$282.3M | −$241.2M | −$170.6M | −$174.9M |
| Accumulated other comprehensive income | −$16.1M | −$18.4M | −$9.7M | −$11.3M | −$20.6M | −$22.8M | −$14.7M | −$16.1M | −$15.8M | −$16.9M |
| Minority interest | $28.1M | $37.9M | $38.6M | $38.7M | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.36B | $1.46B | $1.53B | $1.44B | $1.33B | $1.20B | $1.11B | $1.26B | $1.18B | $994.8M |
| Key figures | ||||||||||
| Total debt | $752.0M | $701.8M | $685.3M | $736.0M | $456.5M | $210.4M | $311.7M | $125.0M | $96.5M | $180.0M |
| Net cash (debt) | −$692.1M | −$661.0M | −$623.5M | −$628.8M | −$402.3M | −$181.0M | −$278.3M | −$91.1M | −$82.9M | −$163.0M |
| Working capital | $296.1M | $186.0M | $304.0M | $453.1M | $362.5M | $182.9M | $157.5M | $146.3M | $168.1M | $158.3M |
| Tangible book value | $1.19B | $1.25B | $1.31B | $1.23B | $1.20B | $1.20B | $1.11B | $1.26B | $1.18B | $994.8M |
| Book value per share | $22.49 | $23.23 | $23.99 | $22.35 | $19.56 | $17.21 | $15.87 | $17.55 | $16.33 | $13.74 |
| Shares outstanding | 60.6M | 62.7M | 63.7M | 64.6M | 67.9M | 69.4M | 70.0M | 72.1M | 72.6M | 72.4M |
| Current ratio | 1.94 | 1.52 | 1.92 | 2.46 | 2.35 | 1.67 | 1.51 | 1.47 | 1.72 | 1.74 |
| Quick ratio | 1.51 | 1.29 | 1.61 | 2.16 | 2.05 | 1.48 | 1.36 | 1.28 | 1.48 | 1.37 |
| Debt / equity | 0.55 | 0.48 | 0.45 | 0.51 | 0.34 | 0.18 | 0.28 | 0.10 | 0.08 | 0.18 |
| Equity / assets | 47.2% | 47.7% | 48.4% | 45.4% | 49.5% | 53.4% | 51.8% | 60.7% | 65.5% | 55.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $57.0M | $61.5M | $59.9M | $51.0M | $51.4M | $52.0M | $40.8M | $54.7M | $70.4M | $60.3M | $61.7M | $42.8M |
| Cash & equivalents | $57.0M | $61.5M | $59.9M | $51.0M | $51.4M | $52.0M | $40.8M | $54.7M | $70.4M | $60.3M | $61.7M | $42.8M |
| Receivables | $508.5M | $500.9M | $415.3M | $460.1M | $443.1M | $418.8M | $417.8M | $416.0M | $446.5M | $451.1M | $470.4M | $500.4M |
| Inventory | $14.2M | $14.4M | $12.1M | $11.5M | $13.2M | $13.0M | $14.2M | $15.4M | $16.3M | $17.2M | $18.1M | $17.3M |
| Other current assets | $95.6M | $126.1M | $123.6M | $82.1M | $69.8M | $55.0M | $69.0M | $60.8M | $44.5M | $68.7M | $84.4M | $84.4M |
| Total current assets | $675.3M | $702.9M | $610.9M | $604.8M | $577.5M | $538.7M | $541.8M | $547.0M | $577.7M | $597.3M | $634.6M | $644.8M |
| Property, plant & equipment (net) | $1.88B | $2.06B | $2.90B | $1.90B | $1.88B | $1.91B | $1.93B | $2.06B | $2.00B | $1.97B | $1.97B | $2.02B |
| Goodwill & intangible assets | $201.5M | $209.6M | $173.7M | $198.0M | $200.5M | $203.0M | $205.5M | $208.0M | $210.5M | $213.1M | $215.6M | $218.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $398.4M | $287.2M | $0 | $269.3M | $308.3M | $331.4M | $370.7M | $304.7M | $301.8M | $302.8M | $334.8M | $308.1M |
| Total assets | $3.16B | $3.26B | $2.89B | $2.97B | $2.96B | $2.99B | $3.05B | $3.12B | $3.09B | $3.08B | $3.16B | $3.19B |
| Liabilities | ||||||||||||
| Accounts payable | $119.1M | $137.5M | $95.1M | $147.3M | $129.2M | $113.4M | $112.4M | $164.4M | $142.2M | $136.2M | $136.0M | $129.0M |
| Short-term debt | $72.0M | $84.1M | $15.5M | $15.5M | $15.5M | $15.5M | $35.4M | $10.2M | $20.4M | $10.2M | $11.5M | $27.5M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | $149.8M |
| Total current liabilities | $466.9M | $487.8M | $314.8M | $373.7M | $331.7M | $323.6M | $355.7M | $357.7M | $342.5M | $314.1M | $330.6M | $329.7M |
| Long-term debt | $793.0M | $869.6M | $752.0M | $725.0M | $725.0M | $640.0M | $630.0M | $690.0M | $660.0M | $596.2M | $646.2M | $686.2M |
| Lease obligations | $151.9M | $163.1M | — | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $512.6M | $524.0M | $429.0M | $441.2M | $450.0M | $549.0M | $572.6M | $587.2M | $597.6M | $612.0M | $614.2M | $627.4M |
| Total liabilities | $1.77B | $1.88B | $1.50B | $1.54B | $1.51B | $1.51B | $1.56B | $1.63B | $1.60B | $1.52B | $1.59B | $1.64B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 | $805,000 |
| Retained earnings (deficit) | $1.89B | $1.89B | $1.90B | $1.94B | $1.97B | $1.93B | $1.95B | $1.95B | $1.95B | $1.95B | $1.95B | $1.94B |
| Accumulated other comprehensive income | −$11.9M | −$14.3M | −$16.1M | −$16.9M | −$17.8M | −$19.9M | −$18.4M | −$21.4M | −$14.4M | −$9.1M | −$9.7M | −$8.7M |
| Minority interest | $26.9M | $27.9M | $28.1M | $35.6M | $36.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.36B | $1.35B | $1.36B | $1.40B | $1.42B | $1.44B | $1.46B | $1.45B | $1.46B | $1.52B | $1.53B | $1.51B |
| Key figures | ||||||||||||
| Total debt | $941.9M | $1.04B | $793.9M | $768.1M | $771.6M | $688.9M | $701.8M | $733.1M | $715.3M | $633.5M | $685.3M | $742.9M |
| Net cash (debt) | −$884.9M | −$979.8M | −$734.0M | −$717.2M | −$720.1M | −$637.0M | −$661.0M | −$678.4M | −$644.8M | −$573.2M | −$623.5M | −$700.1M |
| Working capital | $208.4M | $215.1M | $296.1M | $231.1M | $245.9M | $215.1M | $186.0M | $189.3M | $235.2M | $283.3M | $304.0M | $315.1M |
| Tangible book value | $1.15B | $1.14B | $1.19B | $1.20B | $1.22B | $1.23B | $1.25B | $1.24B | $1.24B | $1.30B | $1.31B | $1.29B |
| Book value per share | $22.51 | $22.58 | $22.76 | $22.87 | $23.09 | $23.21 | $23.45 | $23.36 | $23.15 | $23.82 | $23.96 | $23.73 |
| Shares outstanding | 60.2M | 59.9M | 59.9M | 61.0M | 61.5M | 61.9M | 62.1M | 62.0M | 62.9M | 63.7M | 63.8M | 63.7M |
| Current ratio | 1.45 | 1.44 | 1.94 | 1.62 | 1.74 | 1.66 | 1.52 | 1.53 | 1.69 | 1.90 | 1.92 | 1.96 |
| Quick ratio | 1.21 | 1.15 | 1.51 | 1.37 | 1.49 | 1.45 | 1.29 | 1.32 | 1.51 | 1.63 | 1.61 | 1.65 |
| Debt / equity | 0.69 | 0.77 | 0.58 | 0.55 | 0.54 | 0.48 | 0.48 | 0.51 | 0.49 | 0.42 | 0.45 | 0.49 |
| Equity / assets | 43.0% | 41.5% | 47.2% | 47.0% | 47.9% | 48.1% | 47.7% | 46.4% | 47.0% | 49.3% | 48.4% | 47.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
WERN financial position
At the end of fiscal 2025 (December 31, 2025), Werner Enterprises had total assets of $2.9 billion (down 5.4% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $1.4 billion. It held $59.9 million in cash and short-term investments against $752.0 million of debt, net debt of $692.1 million. Its current ratio was 1.94. In the latest quarter (ended June 30, 2026) total assets were $3.2 billion and equity $1.4 billion.
Related: WERN income statement, WERN cash flow statement, WERN key metrics. See the WERN stock overview for the latest quote and news.
WERN balance sheet FAQ
What are Werner Enterprises's total assets?
Werner Enterprises reported total assets of $2.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.1 billion a year earlier.
How much debt does Werner Enterprises have?
Werner Enterprises had $752.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.55.
How much cash does Werner Enterprises have?
Werner Enterprises held $59.9 million in cash and short-term investments at the end of fiscal 2025; with $752.0 million of debt that is net debt of $692.1 million.
What is Werner Enterprises's book value?
Werner Enterprises's shareholders' equity (book value) was $1.4 billion at the end of fiscal 2025, or $22.49 per share.
What is Werner Enterprises's current ratio?
Werner Enterprises had current assets of $610.9 million and current liabilities of $314.8 million, a current ratio of 1.94 (it can cover its short-term obligations).
How much goodwill does Werner Enterprises have?
Werner Enterprises carried $173.7 million of goodwill and intangible assets, 6.0% of total assets, at the end of fiscal 2025.