What does Werner Enterprises do?

Werner Enterprises moves full truckloads of goods like retail merchandise, food, beverages and manufactured products across the U.S., Mexico and Canada using its own fleet of trucks and trailers. It also arranges freight on other carriers' trucks, rail and delivery networks, including home delivery of large, heavy items.

What is Werner Enterprises's fair value?

On an owner-earnings DCF, Werner Enterprises's most-likely fair value is about $22, versus a recent price near $33. A margin-of-safety estimate, not a price target. Analysis, not advice.

Industrials · Trucking · WERN

What Werner Enterprises Does & How It Makes Money (WERN)

Updated October 2026 · reflects Werner Enterprises's latest reported financials

U.S. truckload carrier offering trucking and logistics services. Werner charges shippers to haul truckload freight on its own fleet.

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How Werner Enterprises makes money

Werner charges shippers to haul truckload freight on its own fleet. It also earns fees and margins by brokering loads to contracted carriers, managing freight, arranging intermodal rail and doing final-mile deliveries. It also makes money selling used trucks and trailers.

What Werner Enterprises does

Founded in 1956 and based in Omaha, Nebraska, Werner Enterprises is a large truckload carrier serving the United States, Mexico and Canada. Its asset-based operations include medium-to-long-haul dry van, regional short-haul, expedited team-driver and temperature-controlled fleets. It hauls retail store merchandise, consumer products, food and beverage, and manufactured goods. As of December 31, 2025, it ran 7,100 trucks (6,785 company-operated and 315 owned by independent contractors) and 28,780 trailers. Werner also runs non-asset-based logistics. It brokers truckload shipments to contracted carriers, provides freight management services, and offers intermodal rail service through rail and drayage partners. Werner Final Mile uses third-party agents and independent contractors to deliver large or heavy items to homes and businesses. The company also sells used trucks and trailers and trades used trucks to manufacturers.

Products & services

One-Way Truckload (dry van)
Dedicated and regional short-haul fleet
Expedited team-driver service
Temperature-controlled truckload
Truckload logistics and brokerage
Intermodal and Werner Final Mile

What is Werner Enterprises worth?

On an owner-earnings DCF, Werner Enterprises's most-likely value is about $22 versus a recent price near $33 (33% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$15) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.

Verdict: Fairly priced — no edge

Owner-earnings fair value · recent price ≈ $33

Fair value (most likely)

$22

Range

$18–$30

No-growth floor

$15

Price

~$33

Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.

⚠ High leverage — net debt is 9.2× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.

Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →

Sector Industrials Industry Trucking HQ United States Ticker WERN Official site

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