| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 69 | — | 17.8x | Top tier | |
Growth | 35 | 9.6% | 7.1% | Bottom tier | |
Quality | 42 | -0.8% | 4.5% | Around median | |
Safety | 44 | 2.8x | 2.6x | Around median | |
Capital Return | 35 | 1.50% | 2.12% | Bottom tier | |
Momentum | 73 | 30.6% | 2.9% | Top tier | |
Sentiment | 67 | 10 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Werner Enterprises operates in truck transportation and logistics through two main segments: Truckload Transportation Services TTS, which includes Dedicated and One-Way Truckload, and Logistics, which includes Truckload Brokerage, Intermodal, and Final Mile. In Q2 fiscal 2026, Dedicated represented 76% of TTS trucking revenues and 80% of the segment’s trucks at quarter-end, while Logistics accounted for 23% of the company’s total revenues.
Q2 fiscal 2026 revenues were approximately $934 million, up 24% year over year, and adjusted operating income was $27.6 million, up 67%. The adjusted operating margin increased 80 basis points to 3.0%, and adjusted earnings per share were $0.22, up $0.14, despite gains on sales of property and equipment declining to $1.5 million from $5.9 million in the comparable period.
The TTS segment generated revenues of $703 million, up 36%, and an adjusted operating margin excluding fuel of 5.5%, an increase of 270 basis points. In contrast, Logistics revenues declined 4% to $212 million, and the segment recorded a negative adjusted operating margin of 1.3%, while Intermodal revenues increased 18% and Final Mile revenues increased 14%. EDGAR filings show that the company had recorded Q1 fiscal 2026 revenues of $808.6 million and a net loss of $4.3 million, following a net loss of $14.4 million in fiscal 2025.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $43.56, compared with a wide range of $29 to $55 and a “Neutral” consensus, reflecting meaningful divergence in estimates of the recovery trajectory; the average is also below the 52-week range high of $47.49, while the highest target exceeds that level. No meaningful price-to-earnings ratio is available because of the trailing twelve-month net loss of $8.6 million and negative earnings per share, so the valuation depends heavily on the realization of margin expansion and FirstFleet savings versus the risks of Logistics, driver shortages, and elevated capital expenditures.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Revenues reached $934 million in Q2 fiscal 2026, up 24%, and adjusted operating income increased 67% to $27.6 million. The adjusted operating margin expanded 80 basis points to 3.0%, while adjusted earnings per share increased to $0.22. The increase came from the addition of FirstFleet, improvement in the One-Way Truckload business, and lower insurance and claims expense, despite gains on sales of property and equipment declining to $1.5 million.
Six months after the transaction through July 28, 2026, FirstFleet helped increase the number of Dedicated trucks at quarter-end by 44% compared with the end of fiscal 2025. Werner achieved a 98% renewal rate for more than 80% of the FirstFleet portfolio that was renewed and realized more than $3 million in savings since the beginning of fiscal 2026. The company implemented actions equivalent to $9 million in annual savings, including more than $7 million expected during fiscal 2026, toward a total target of $18 million over 18 months.
Management confirmed during the July 28, 2026 call that the One-Way Truckload business had become profitable after its adjusted operating margin improved by more than 700 basis points in Q2 fiscal 2026. Revenue per truck per week increased 27.7%, miles per truck increased 15.7%, and total revenue per mile increased 10.4%. The company expects total revenue per mile growth of between 10% and 13% during Q3 fiscal 2026 as additional contract increases take effect.
The most significant operating risk is pressure in Logistics, where the segment recorded a negative adjusted operating margin of 1.3% after Truckload Brokerage shipments declined 29%. Driver shortages are another risk, as they led the company to reduce its fiscal 2026 average fleet growth guidance to 16%–18% from 23%–28%. Werner also raised its net capital expenditure guidance to $215–250 million, while debt stood at $841 million at quarter-end.
Werner raised its fiscal 2026 guidance for Dedicated revenue per truck per week growth to 3%–5%, from a previous range of flat to 3%. It set Q3 fiscal 2026 total revenue per mile growth in One-Way Truckload at between 10% and 13%, but reduced its full-year average fleet growth guidance to 16%–18%. It also raised net capital expenditure guidance to $215–250 million and maintained its effective tax rate range at 25.5%–26.5% and net interest expense at $40–45 million.
Werner generated $85 million in operating cash flow in Q2 fiscal 2026, and free cash flow reached $94 million, or 10% of revenues. The company ended the quarter with total liquidity of $657 million, including $57 million in cash and $600 million available through credit facilities. Debt stood at $841 million, but net debt declined $86 million from the prior quarter, and covenant-calculated net leverage was approximately two times the relevant earnings after accounting for results and savings on a pro forma basis.
