WERN Werner Enterprises, Inc. - Common Stock

NASDAQ · Road & Rail · View on SEC EDGAR ↗
$38.71
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026

About Werner Enterprises, Inc. - Common Stock Company overview from Wikipedia

Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.

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Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.

History

In 1956, Clarence "CL" Werner sold his family vehicle for a Ford Motor Company gasoline-powered truck, and began hauling cargo for other companies. In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. In 1977, Werner Enterprises moved its corporate headquarters to its current location in Omaha, Nebraska. By 1999, Werner had expanded its operations into Mexico, reaching one billion dollars in revenue. Werner was among the six largest truckload and less-than-truckload (LTL) carriers in the United States in 2023.

Acquisitions

In July 2021, Werner acquired regional truckload carriers ECM Transport Group (ECM Transport and Motor Carrier Service, LLC), expanding in the Mid-Atlantic, Ohio and Northeast regions.

In November 2021, Werner acquired final mile carrier NEHDS Logistics, LLC.

In October 2022, Werner acquired truckload carrier Baylor Trucking, Inc., expanding in the east central and south-central U.S. truckload markets.

In November 2022, Werner acquired asset-light logistics provider and truckload carrier, ReedTMS Logistics.

Operations

Werner's fleet consists of approximately 8,300 trucks, 30,000 trailers and employs 14,300 employees and independent contractors. The company conducts business in more than 150 countries, with offices in the U.S., Canada and Mexico. It is the largest truckload transportation provider serving the Mexico cross-border market.

Werner's common stock trades on the NASDAQ Global Select Market under the symbol WERN. Werner announced its Werner DRIVE strategy in 2022, which stands for Durable, Results, Innovation, Values and ESG. Building on the "5Ts + S" strategy, Werner DRIVE incorporates sustainability, capital allocation, an outcome-oriented approach to operations, a drive to innovate and a culture that supports and values its team members.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

WERN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$38.71
Market Cap
$2.32B
P/E (TTM)
-161.3
EPS (TTM)
$-0.24
Revenue (TTM)
$2.97B
Div Yield
1.5%
ROE
-1.0%
Debt/Equity
0.6
52W Range
$23 – $47

WERN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $2.97B
10-point trend, +48.1%
2016-12-31 2025-12-31
EPS $-0.24
10-point trend, -122.0%
2016-12-31 2025-12-31
Free Cash Flow $-69M
10-point trend, +69.6%
2016-12-31 2025-12-31
Margins -0.48%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
WERN
Peer Median
P/E (TTM)
5-point trend, -1102.2%
-161.3
80.4
P/S (TTM)
5-point trend, -47.3%
0.8
0.8
P/B
5-point trend, -44.2%
1.7
1.3
EV / EBITDA
5-point trend, +1781.0%
258.2
Price / FCF
5-point trend, +68.2%
-33.8

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
WERN
Peer Median
Operating Margin
5-point trend, -96.6%
0.39%
Net Profit Margin
5-point trend, -105.1%
-0.48%
-0.31%
ROA
5-point trend, -104.4%
-0.48%
-1.1%
ROE
5-point trend, -105.1%
-1.0%
-1.8%
ROIC
5-point trend, -95.4%
0.61%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
WERN
Peer Median
Debt / Equity
5-point trend, +71.4%
0.6
23.4
Current Ratio
5-point trend, -17.1%
1.9
1.4
Quick Ratio
5-point trend, -24.6%
1.4

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
WERN
Peer Median
Revenue YoY
5-point trend, +8.8%
-1.8%
Revenue CAGR 3Y
5-point trend, +8.8%
-3.3%
Revenue CAGR 5Y
5-point trend, +8.8%
4.6%
EPS YoY
5-point trend, -106.3%
-68.8%
Net Income YoY
5-point trend, -105.6%
-69.5%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
WERN
Peer Median
EPS (Diluted)
5-point trend, -106.3%
$-0.24

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
WERN
Peer Median
Payout Ratio
5-point trend, -2207.7%
-236.7%

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
1.5%
Payout Ratio
-236.7%
5Y Div CAGR
Ex-dateAmount
July 6, 2026$0.1400
April 13, 2026$0.1400
Jan. 5, 2026$0.1400
Oct. 6, 2025$0.1400
July 7, 2025$0.1400
April 14, 2025$0.1400
Jan. 2, 2025$0.1400
Oct. 7, 2024$0.1400
July 1, 2024$0.1400
April 12, 2024$0.1400
Dec. 29, 2023$0.1400
Sept. 29, 2023$0.1400
June 30, 2023$0.1400
April 14, 2023$0.1300
Dec. 30, 2022$0.1300
Sept. 30, 2022$0.1300
July 1, 2022$0.1300
April 14, 2022$0.1200
Dec. 31, 2021$0.1200
Oct. 1, 2021$0.1200

WERN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 22 analysts
  • Strong Buy 4 18.2%
  • Buy 6 27.3%
  • Hold 10 45.5%
  • Sell 2 9.1%
  • Strong Sell 0 0.0%

12-Month Price Target

15 analysts · 2026-08-19
Median target $41.00 +5.9%
Mean target $42.67 +10.2%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-0.06%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.22 $0.23 -0.01%
March 31, 2026 $0.02 $-0.05 0.07%
Dec. 31, 2025 $0.05 $0.11 -0.06%
Sept. 30, 2025 $-0.03 $0.14 -0.17%
June 30, 2025 $0.11 $0.05 0.06%
March 31, 2025 $-0.12 $0.12 -0.24%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
WERN $1.80B -125.0 -1.8% -0.48% -1.0%
R $7.54B 16.0 0.23% 3.9% 16.3%
LSTR 44.1 -1.6% 2.4% 13.0%
SNDR 45.0 7.2% 1.8% 3.4%
RXO $2.07B -21.4 26.2% -1.7% -6.4%
ARCB 28.3 -4.0% 1.5% 4.6%
MRTN $928M 54.2 -8.3% 2.0% 2.3%
HTLD $699M -13.5 -23.1% -6.5% -6.8%
CVLG 81.6 2.9% 0.62% 1.8%
ULH $400M -4.0 -15.6% -6.4% -16.7%
PAMT $253M -4.9 -16.3% -8.8% -23.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 14
Annual Income Statement data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Revenue 11-point trend, +42.1% $2.97B $3.03B $3.28B $3.29B $2.73B $2.37B $2.46B $2.46B $2.12B $2.01B $2.09B
Operating Expenses 11-point trend, +56.5% $2.96B $2.96B $3.11B $2.97B $2.43B $2.14B $2.24B $2.23B $1.97B $1.88B $1.89B
Operating Income 11-point trend, -94.2% $12M $66M $176M $323M $309M $227M $225M $224M $144M $126M $200M
Interest Expense 9-point trend, +1598.8% · · $34M $12M $4M $4M $7M $3M $2M $3M $2M
Interest Income 11-point trend, +96.0% $6M $7M $7M $2M $1M $2M $3M $3M $3M $4M $3M
Other Non-op 11-point trend, +296.4% $385.0K $162.0K $-477.0K $-388.0K $-236.0K $-163.0K $-38.0K $-376.0K $-328.0K $-191.0K $-196.0K
Pretax Income 11-point trend, -110.3% $-21M $42M $148M $325M $346M $225M $222M $224M $145M $127M $201M
Income Tax 11-point trend, -97.1% $2M $9M $35M $79M $85M $56M $55M $56M $-58M $48M $77M
Net Income 11-point trend, -111.6% $-14M $34M $112M $241M $259M $169M $167M $168M $203M $79M $124M
EPS (Basic) 11-point trend, -114.0% $-0.24 $0.55 $1.77 $3.76 $3.84 $2.45 $2.40 $2.35 $2.81 $1.10 $1.72
EPS (Diluted) 11-point trend, -114.0% $-0.24 $0.55 $1.76 $3.74 $3.82 $2.44 $2.38 $2.33 $2.80 $1.09 $1.71
Shares (Basic) 11-point trend, -15.8% 60,607,000 62,450,000 63,374,000 64,125,000 67,434,000 69,018,000 69,567,000 71,694,000 72,270,000 72,057,000 71,957,000
Shares (Diluted) 11-point trend, -16.5% 60,607,000 62,662,000 63,718,000 64,579,000 67,855,000 69,427,000 70,026,000 72,057,000 72,558,000 72,393,000 72,556,000
EBITDA 11-point trend, -94.2% $12M $66M $176M $323M $309M $227M $225M $224M $144M $126M $200M
Balance Sheet 29
Annual Balance Sheet data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Cash & Equivalents 11-point trend, +88.2% $60M $41M $62M $107M $54M $29M $26M $34M $14M $17M $32M
Receivables 11-point trend, +57.3% $395M $392M $445M $519M $461M $341M $323M $338M $304M $261M $251M
Inventory 11-point trend, -26.3% $12M $14M $18M $15M $11M $12M $9M $10M $12M $13M $16M
Prepaid Expense 3-point trend, +5.2% $57M $54M $54M · · · · · · · ·
Other Current Assets 11-point trend, +30.7% $36M $15M $30M $74M $63M $34M $39M $32M $28M $30M $27M
Current Assets 11-point trend, +61.5% $613M $542M $635M $763M $631M $457M $466M $457M $400M $373M $380M
PP&E (Net) 11-point trend, +55.1% $1.79B $1.93B $1.97B $1.83B $1.61B $1.54B $1.53B $1.49B $1.35B $1.36B $1.15B
PP&E (Gross) 11-point trend, +52.0% $2.90B $2.94B $2.95B $2.89B $2.56B $2.41B $2.34B $2.25B $2.11B $2.11B $1.91B
Accum. Depreciation 11-point trend, +47.4% $1.11B $1.01B $979M $1.06B $945M $862M $817M $760M $767M $747M $754M
Goodwill 6-point trend, +129104000.00 $129M $129M $129M $133M $75M $0 · · · · ·
Intangibles 6-point trend, +44603000.00 $45M $76M $86M $82M $55M $0 · · · · ·
Other Non-current Assets 11-point trend, +426.2% $272M $371M $335M $295M $229M $157M $151M $139M $61M $57M $52M
Total Assets 11-point trend, +82.2% $2.89B $3.05B $3.16B $3.10B $2.60B $2.16B $2.14B $2.08B $1.81B $1.79B $1.59B
Accounts Payable 11-point trend, +34.6% $95M $112M $136M $124M $94M $83M $95M $98M $74M $67M $71M
Accrued Liabilities 7-point trend, +46.3% $16M $19M $30M $20M $29M $25M $11M · · · ·
Current Liabilities 11-point trend, +71.4% $315M $356M $331M $310M $269M $274M $309M $310M $232M $215M $184M
Capital Leases 7-point trend, +224.7% $26M $36M $27M $33M $23M $7M $8M · · · ·
Deferred Tax 11-point trend, +8.1% $266M $270M $320M $313M $268M $238M $250M $233M $195M $293M $246M
Other Non-current Liabilities 11-point trend, +31.5% $26M $66M $54M $60M $43M $43M $21M $11M $13M $17M $20M
Total Liabilities 6-point trend, +55.7% $1.50B $1.56B $1.59B $1.61B $1.24B $962M · · · · ·
Long-term Debt 6-point trend, +276.0% $752M $650M $649M $694M $428M $200M · · · · ·
Total Debt 5-point trend, +75.9% $752M $650M $649M $694M $428M · · · · · ·
Common Stock Flat — no change across 11 periods $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K $805.0K
Retained Earnings 11-point trend, +86.2% $1.90B $1.95B $1.95B $1.88B $1.67B $1.44B $1.29B $1.41B $1.27B $1.08B $1.02B
Treasury Stock 11-point trend, +277.4% $671M $617M $551M $552M $442M $338M $282M $241M $171M $175M $178M
AOCI 11-point trend, -23.1% $-16M $-18M $-10M $-11M $-21M $-23M $-15M $-16M $-16M $-17M $-13M
Stockholders' Equity 11-point trend, +45.7% $1.36B $1.46B $1.53B $1.44B $1.33B $1.20B $1.11B $1.26B $1.18B $995M $936M
Liabilities + Equity 11-point trend, +82.2% $2.89B $3.05B $3.16B $3.10B $2.60B $2.16B $2.14B $2.08B $1.81B $1.79B $1.59B
Shares Outstanding 11-point trend, -16.8% 59,869,405 61,850,434 63,444,681 63,223,003 65,790,112 67,931,726 69,244,525 70,441,973 72,409,222 72,166,969 71,998,750
Cash Flow 16
Annual Cash Flow data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Stock-based Comp 11-point trend, +145.2% $11M $9M $12M $12M $11M $9M $8M $7M $5M $2M $4M
Deferred Tax 11-point trend, -107.0% $-3M $-50M $8M $43M $29M $-10M $16M $38M $-101M $45M $38M
Amort. of Intangibles 6-point trend, +10100000.00 $10M $10M $10M $6M $2M $0 · · · · ·
Operating Cash Flow 11-point trend, -50.9% $182M $330M $474M $449M $333M $446M $427M $418M $283M $310M $370M
CapEx 11-point trend, -44.9% $250M $414M $599M $507M $371M $413M $421M $520M $316M $538M $454M
Investing Cash Flow 11-point trend, +48.9% $-172M $-241M $-435M $-514M $-397M $-263M $-272M $-331M $-184M $-410M $-336M
Debt Issued 7-point trend, +54.5% $425M $205M $50M $370M $250M $0 $275M · · · ·
Net Debt Issued 5-point trend, -58.0% $105M $-16M $-40M $270M $250M · · · · · ·
Stock Repurchased 11-point trend, +762.9% $56M $67M $0 $110M $104M $57M $42M $72M $0 $0 $6M
Net Stock Activity 11-point trend, -762.9% $-56M $-67M $0 $-110M $-104M $-57M $-42M $-72M $0 $0 $-6M
Dividends Paid 11-point trend, +125.5% $34M $35M $34M $32M $29M $25M $286M $23M $19M $17M $15M
Financing Cash Flow 11-point trend, +129.2% $7M $-106M $-87M $118M $90M $-186M $-155M $-68M $-101M $83M $-25M
Net Change in Cash 11-point trend, +107.7% $19M $-21M $-46M $53M $25M $-4M $-488.0K $19M $-2M $-18M $9M
Taxes Paid 11-point trend, +9.6% $39M $26M $18M $40M $81M $54M $50M $11M $22M $5M $35M
Free Cash Flow 11-point trend, +18.1% $-69M $-84M $-124M $-59M $-38M $33M $6M $-102M $-35M $-225M $-84M
Levered FCF 9-point trend, -76.5% · · $-150M $-67M $-41M $30M $739.6K $-104M $-38M $-227M $-85M
Profitability 7
Annual Profitability data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Operating Margin 11-point trend, -95.9% 0.39% 2.2% 5.4% 9.8% 11.3% 9.6% 9.2% 9.1% 6.8% 6.3% 9.6%
Net Margin 11-point trend, -108.1% -0.48% 1.1% 3.4% 7.3% 9.5% 7.1% 6.8% 6.8% 9.6% 3.9% 5.9%
Pretax Margin 11-point trend, -107.3% -0.70% 1.4% 4.5% 9.9% 12.7% 9.5% 9.0% 9.1% 6.8% 6.3% 9.6%
EBITDA Margin 11-point trend, -95.9% 0.39% 2.2% 5.4% 9.8% 11.3% 9.6% 9.2% 9.1% 6.8% 6.3% 9.6%
ROA 11-point trend, -106.0% -0.48% 1.1% 3.6% 8.5% 10.9% 7.9% 7.9% 8.6% 11.3% 4.7% 8.0%
ROE 11-point trend, -107.4% -1.0% 2.4% 7.4% 17.1% 20.3% 14.5% 15.3% 13.4% 18.6% 8.2% 14.0%
ROIC 11-point trend, -95.4% 0.61% 2.5% 6.2% 11.4% 13.3% 14.3% 15.3% 13.3% 17.0% 7.9% 13.2%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Current Ratio 11-point trend, -12.2% 1.9 1.5 1.9 2.5 2.3 1.7 1.5 1.5 1.7 1.7 2.2
Quick Ratio 11-point trend, -6.2% 1.4 1.2 1.5 2.0 1.9 1.4 1.1 1.2 1.4 1.3 1.5
Debt / Equity 5-point trend, +71.4% 0.6 0.4 0.4 0.5 0.3 · · · · · ·
LT Debt / Equity 5-point trend, +73.4% 0.6 0.4 0.4 0.5 0.3 · · · · · ·
Interest Coverage 9-point trend, -94.8% · · 5.3 27.3 69.9 54.0 32.9 83.2 64.1 48.9 101.5
Efficiency 2
Annual Efficiency data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Asset Turnover 11-point trend, -26.0% 1.0 1.0 1.0 1.2 1.1 1.1 1.2 1.3 1.2 1.2 1.4
Receivables Turnover 11-point trend, -6.5% 7.6 7.2 6.8 6.7 6.8 7.1 7.5 7.7 7.5 7.8 8.1
Per Share 6
Annual Per Share data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Book Value / Share 11-point trend, +75.2% $22.76 $23.54 $24.09 $22.83 $20.18 $17.59 $16.04 $17.95 $16.36 $13.78 $13.00
Revenue / Share 11-point trend, +70.1% $49.08 $48.36 $51.53 $50.95 $40.30 $34.17 $35.18 $34.11 $29.17 $27.75 $28.85
Cash Flow / Share 11-point trend, -41.2% $3.00 $5.26 $7.44 $6.95 $4.90 $6.42 $6.09 $5.80 $3.88 $4.32 $5.10
Cash / Share 11-point trend, +126.4% $1.00 $0.66 $0.97 $1.70 $0.82 $0.43 $0.38 $0.48 $0.19 $0.23 $0.44
Dividend / Share 11-point trend, +154.5% $1 $1 $1 $1 $0 $0 $4 $0 $0 $0 $0
EPS (TTM) 11-point trend, -114.0% $-0.24 $0.55 $1.76 $3.74 $3.82 $2.44 $2.38 $2.33 $2.80 $1.09 $1.71
Growth Rates 8
Annual Growth Rates data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Revenue YoY 5-point trend, -112.0% -1.8% -7.7% -0.20% 20.3% 15.3% · · · · · ·
Revenue CAGR 3Y 3-point trend, -128.9% -3.3% 3.5% 11.5% · · · · · · · ·
Revenue CAGR 5Y 4.6% · · · · · · · · · ·
EPS YoY 4-point trend, -221.6% · -68.8% -52.9% -2.1% 56.6% · · · · · ·
EPS CAGR 3Y 2-point trend, -361.1% · -47.6% -10.3% · · · · · · · ·
Net Income YoY 4-point trend, -230.7% · -69.5% -53.4% -6.9% 53.2% · · · · · ·
Net Income CAGR 3Y 2-point trend, -285.4% · -49.1% -12.7% · · · · · · · ·
Dividend CAGR 5Y 6.5% · · · · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for WERN
Metric Trend 20252024202320222021202020192018201720162015
Revenue TTM 11-point trend, +42.1% $2.97B $3.03B $3.28B $3.29B $2.73B $2.37B $2.46B $2.46B $2.12B $2.01B $2.09B
Net Income TTM 11-point trend, -111.6% $-14M $34M $112M $241M $259M $169M $167M $168M $203M $79M $124M
Market Cap 11-point trend, +6.7% $1.80B $2.22B $2.69B $2.55B $3.14B $2.66B $2.52B $2.08B $2.80B $1.94B $1.68B
Enterprise Value 5-point trend, -29.1% $2.49B $2.83B $3.28B $3.13B $3.51B · · · · · ·
P/E 11-point trend, -1014.2% -125.0 65.3 24.1 10.8 12.5 16.1 15.3 12.7 13.8 24.7 13.7
P/S 11-point trend, -24.9% 0.6 0.7 0.8 0.8 1.1 1.1 1.0 0.8 1.3 1.0 0.8
P/B 11-point trend, -26.8% 1.3 1.5 1.8 1.8 2.4 2.2 2.3 1.6 2.4 2.0 1.8
P / Tangible Book 6-point trend, -32.2% 1.5 1.8 2.0 2.1 2.6 2.2 · · · · ·
P / Cash Flow 11-point trend, +117.3% 9.9 6.7 5.7 5.7 9.4 6.0 5.9 5.0 9.9 6.2 4.5
P / FCF 11-point trend, -30.3% -26.2 -26.4 -21.6 -43.5 -82.4 81.1 427.4 -20.5 -81.1 -8.6 -20.1
EV / EBITDA 5-point trend, +1781.0% 213.5 42.8 18.6 9.7 11.4 · · · · · ·
EV / FCF 5-point trend, +60.6% -36.3 -33.7 -26.3 -53.5 -92.3 · · · · · ·
EV / Revenue 5-point trend, -34.8% 0.8 0.9 1.0 1.0 1.3 · · · · · ·
Dividend Yield 11-point trend, +111.1% 1.9% 1.6% 1.3% 1.3% 0.93% 0.93% 11.4% 1.1% 0.67% 0.89% 0.90%
Earnings Yield 11-point trend, -110.9% -0.80% 1.5% 4.2% 9.3% 8.0% 6.2% 6.5% 7.9% 7.2% 4.0% 7.3%
Payout Ratio 11-point trend, -2036.9% -236.7% 102.4% 30.4% 13.3% 11.2% 14.7% 171.4% 13.7% 9.3% 21.9% 12.2%
Annual Payout 11-point trend, +125.5% $34M $35M $34M $32M $29M $25M $286M $23M $19M $17M $15M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $2.97B$3.03B$3.28B$3.29B$2.73B
Operating Margin % 0.39%2.2%5.4%9.8%11.3%
Net Income $-14M$34M$112M$241M$259M
Diluted EPS $-0.24$0.55$1.76$3.74$3.82
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 0.60.40.40.50.3
Current Ratio 1.91.51.92.52.3
Quick Ratio 1.41.21.52.01.9
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $-69M$-84M$-124M$-59M$-38M

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Institutional owners (13F) 289 filers · $2.0B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
73 (+19 vs prior Q) 28 (0 vs prior Q) 91 (+10 vs prior Q) 73 (+5 vs prior Q) +7.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD PORTFOLIO MANAGEMENT LLC $162,424,268 3,724,473 8.10% Shares
DIMENSIONAL FUND ADVISORS LP $160,767,017 3,686,472 8.01% Shares
AMERICAN CENTURY COMPANIES INC $132,940,288 3,048,390 6.63% Shares
VANGUARD CAPITAL MANAGEMENT LLC $117,868,105 2,702,777 5.88% Shares
STATE STREET CORP $115,003,320 2,637,086 5.73% Shares
FIRST TRUST ADVISORS LP $92,160,402 2,113,286 4.59% Shares
DEPRINCE RACE & ZOLLO INC $89,848,050 3,055,017 4.48% Shares
VICTORY CAPITAL MANAGEMENT INC $87,010,978 1,995,207 4.34% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $74,887,092 1,717,200 3.73% Shares
FMR LLC $67,063,894 1,537,810 3.34% Shares
GEODE CAPITAL MANAGEMENT, LLC $60,295,042 1,382,281 3.01% Shares
Maple Rock Capital Partners Inc. $59,578,543 1,366,167 2.97% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $57,456,786 1,317,514 2.86% Shares
Allianz Asset Management GmbH $48,547,437 1,113,218 2.42% Shares
AMERIPRISE FINANCIAL INC $38,145,709 874,701 1.90% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $38,083,000 873,270 1.90% Shares
MILLENNIUM MANAGEMENT LLC $33,927,315 777,971 1.69% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $32,713,518 750,138 1.63% Shares
Qube Research & Technologies Ltd $30,322,600 695,313 1.51% Shares
GOLDMAN SACHS GROUP INC $27,115,826 621,780 1.35% Shares
NEW YORK STATE COMMON RETIREMENT FUND $27,053,725 620,356 1.35% Shares
Penn Capital Management Company, LLC $21,475,492 491,541 1.07% Shares
WELLINGTON MANAGEMENT GROUP LLP $20,874,930 478,673 1.04% Shares
Russell Investments Group, Ltd. $19,776,350 453,482 0.99% Shares
Balyasny Asset Management L.P. $18,649,250 427,637 0.93% Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC $18,552,043 425,408 0.92% Shares
VANGUARD FIDUCIARY TRUST CO $17,630,782 404,283 0.88% Shares
ROYCE & ASSOCIATES LP $17,143,527 393,110 0.85% Shares
Empowered Funds, LLC $12,557,456 287,949 0.63% Shares
Meros Investment Management, LP $12,205,131 279,870 0.61% Shares
BEACONLIGHT CAPITAL, LLC $12,037,494 276,026 0.60% Shares
BlackRock, Inc. $11,790,530 270,363 0.59% Shares
CITADEL ADVISORS LLC $11,413,784 261,724 0.57% Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC $11,172,838 256,199 0.56% Shares
TWO SIGMA INVESTMENTS, LP $10,103,957 231,689 0.50% Shares
ESSEX INVESTMENT MANAGEMENT CO LLC $10,101,166 231,625 0.50% Shares
BANK OF AMERICA CORP /DE/ $9,360,843 214,649 0.47% Shares
Public Sector Pension Investment Board $8,981,174 205,943 0.45% Shares
KENNEDY CAPITAL MANAGEMENT LLC $8,930,892 204,790 0.45% Shares
PINNACLE ASSOCIATES LTD $8,646,216 198,262 0.43% Shares
NUANCE INVESTMENTS, LLC $8,283,484 189,945 0.41% Shares
CAXTON ASSOCIATES LLP $7,236,120 165,928 0.36% Shares
RHUMBLINE ADVISERS $6,850,277 157,081 0.34% Shares
DEAN INVESTMENT ASSOCIATES, LLC $6,348,264 145,569 0.32% Shares
Swiss National Bank $5,246,283 120,300 0.26% Shares
FEDERATED HERMES, INC. $4,834,038 110,847 0.24% Shares
Dean Capital Management $4,605,085 105,597 0.23% Shares
TWO SIGMA ADVISERS, LP $4,264,421 142,100 0.21% Shares
CastleKnight Management LP $4,251,975 97,500 0.21% Shares
Quantinno Capital Management LP $4,251,898 97,498 0.21% Shares
Legato Capital Management LLC $4,249,489 97,443 0.21% Shares
Moody Aldrich Partners LLC $4,181,109 95,875 0.21% Shares
Legal & General Group Plc $4,005,448 91,847 0.20% Shares
BOOTHBAY FUND MANAGEMENT, LLC $3,829,612 87,815 0.19% Shares
GREAT LAKES ADVISORS, LLC $3,309,040 75,878 0.16% Shares
LOS ANGELES CAPITAL MANAGEMENT LLC $3,231,677 74,104 0.16% Shares
Corient Private Wealth LP $3,143,891 72,091 0.16% Shares
Campbell & CO Investment Adviser LLC $3,142,406 72,057 0.16% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $3,028,627 69,448 0.15% Shares
Hudson Bay Capital Management LP $2,860,249 65,587 0.14% Shares
PRUDENTIAL FINANCIAL INC $2,826,800 64,820 0.14% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,791,040 64,000 0.14% Put option
Verition Fund Management LLC $2,647,476 60,708 0.13% Shares
New Age Alpha Advisors, LLC $2,540,893 58,264 0.13% Shares
Connor, Clark & Lunn Investment Management Ltd. $2,514,771 57,665 0.13% Shares
Holocene Advisors, LP $2,503,301 57,402 0.12% Shares
ROWLANDMILLER & PARTNERS.ADV $2,492,631 57,157 0.12% Shares
VANGUARD ASSET MANAGEMENT, Ltd $2,454,109 56,274 0.12% Shares
UBS Group AG $2,359,301 54,100 0.12% Put option
BARCLAYS PLC $2,307,667 52,916 0.12% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $2,272,342 52,106 0.11% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $2,143,989 72,900 0.11% Shares
INTECH INVESTMENT MANAGEMENT LLC $2,087,131 47,859 0.10% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $2,020,370 46,201 0.10% Shares
ALLIANCEBERNSTEIN L.P. $1,901,121 64,642 0.09% Shares
MIRABELLA FINANCIAL SERVICES LLP $1,875,056 42,996 0.09% Shares
Walleye Capital LLC $1,859,923 42,649 0.09% Shares
ENVESTNET ASSET MANAGEMENT INC $1,746,734 40,054 0.09% Shares
Y-Intercept (Hong Kong) Ltd $1,619,763 37,142 0.08% Shares
Advisors Preferred, LLC $1,547,942 35,832 0.08% Shares
MetLife Investment Management, LLC $1,544,230 35,410 0.08% Shares
State of New Jersey Common Pension Fund D $1,396,697 32,027 0.07% Shares
Illinois Municipal Retirement Fund $1,343,014 30,796 0.07% Shares
CastleKnight Management LP $1,308,300 30,000 0.07% Call option
MANUFACTURERS LIFE INSURANCE COMPANY, THE $1,296,351 29,726 0.06% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $1,214,539 27,850 0.06% Shares
State of Tennessee, Department of Treasury $1,200,235 27,522 0.06% Shares
Louisiana State Employees Retirement System $1,146,943 26,300 0.06% Shares
SummerHaven Investment Management, LLC $1,069,753 24,530 0.05% Shares
Invesco Ltd. $1,054,708 24,185 0.05% Shares
Aquatic Capital Management LLC $1,050,042 24,078 0.05% Shares
Vanguard Global Advisers, LLC $1,027,539 23,562 0.05% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $999,280 22,914 0.05% Shares
Atria Investments, Inc $948,629 21,753 0.05% Shares
GLENMEDE TRUST CO NA $933,951 21,416 0.05% Shares
Mariner, LLC $885,096 20,296 0.04% Shares
HSBC HOLDINGS PLC $856,102 19,877 0.04% Shares
CWM, LLC $841,088 28,599 0.04% Shares
Vanguard Personalized Indexing Management, LLC $812,978 18,642 0.04% Shares
US BANCORP \DE\ $811,233 18,602 0.04% Shares

Company insiders 56 insiders · 34 officers · 20 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Derek J Leathers CEO & Chairman July 13, 2026 J 491,087 8 0 $31,604
Christopher D Wikoff Exec VP - Treasurer & CFO May 9, 2026 F 39,783 0 0 $0
John J Steele Exec VP - Treasurer & CFO Feb. 13, 2023 F 79,161 0 0 $0
Nathan J Meisgeier President and CLO Feb. 23, 2026 F 79,156 8 0 $27,711
Eric J Downing Exec VP and COO Feb. 23, 2026 F 55,365 8 2 $-73,646
Jim S Schelble Exec VP & Chief Admin Officer June 12, 2026 S 70,500 8 1 $-11,338
Daragh P Mahon Executive Vice President & CIO Feb. 23, 2026 F 41,056 8 0 $23,568
Craig T Callahan Exec VP-Chief Commercial Offcr Feb. 23, 2026 F 69,200 8 0 $24,946
James Lynn Johnson Exec VP - Chief Acctg Officer Feb. 23, 2026 F 98,228 8 0 $25,091
Marty H Nordlund Exec VP Strategic Partnerships May 7, 2025 A 60,909 0 0 $0
James A Mullen Exec VP and General Counsel Dec. 1, 2016 F 45,620 0 0 $0
Gary L Werner Vice Chairman Feb. 12, 2016 D 1,642,650 0 0 $0
Robert E Synowicki JR Exec VP-Driver Resources Dec. 1, 2015 F 21,958 0 0 $0
Anthony M Decanti VP-Analysis & Info Systems Sept. 8, 2009 S 1 0 0 $0
John P Story Vice President of Van Network July 27, 2009 S 5 0 0 $0
Richard S Reiser Exec VP-General Counsel Aug. 11, 2008 M 2,923 0 0 $0
Warren L Schollaert JR Sr VP-Brokerage/Intermodal July 31, 2008 A 5,487 0 0 $0
Guy M Welton Vice President - Operations July 25, 2008 M 1 0 0 $0
Craig M Stoffel VP-VAS Global Logistics July 24, 2008 M 516 0 0 $0
Dwayne O Haug Vice President - Maintenance July 23, 2008 M 0 0 0 $0
Larry P Williams VP - Value Added Services July 23, 2008 M 344 0 0 $0
Lance E Dixon VP-Mexico & Canada July 22, 2008 M 683 0 0 $0
Todd A Struble VP-Flatbed/Ded Operations July 22, 2008 M 1 0 0 $0
Matthew E Parry VP-TCU/Ded Operations July 22, 2008 M 987 0 0 $0
Steven Lee Phillips Senior VP - Operations July 22, 2008 M 2,457 0 0 $0
Lee R Easton Former Vice President - MIS April 30, 2008 M 1,044 0 0 $0
Daniel H Cushman Former Sr Exec VP-Chf Mkg Ofcr Feb. 12, 2008 M 877 0 0 $0
Charles R Stevens VP-Risk Mgmt & Corp Svcs. Feb. 5, 2008 M 1,753 0 0 $0
Duane D Henn Former Vice President - Safety Jan. 25, 2008 S 0 0 0 $0
Chris C Neil Vice President - Pricing Nov. 29, 2007 A 863 0 0 $0
Chad R Dittberner VP-Dedicated Operations Nov. 29, 2007 A 0 0 0 $0
Daniel W Flynn VP-Cust. Service & Development Nov. 29, 2007 A 645 0 0 $0
John W Frey VP-Safety Oper. and Compliance Nov. 29, 2007 A 306 0 0 $0
Jeffrey S Paulsen Vice President - Field Sales Oct. 31, 2005 X 0 0 0 $0
Martha Gayle Packer Director May 12, 2026 A 6,731 0 0 $0
Michelle D. Greene Director May 12, 2026 A 10,854 0 0 $0
Michelle Dye Livingstone Director May 12, 2026 A 14,154 0 0 $0
Alexi Wellman Director May 12, 2026 A 15,963 0 0 $0
Diane K Duren Director May 12, 2026 A 30,007 0 0 $0
Scott C Arves Director May 12, 2026 A 17,513 0 0 $0
Carmen A Tapio Director May 13, 2025 A 15,003 0 0 $0
Kenneth M Bird Director May 9, 2023 A 19,637 0 0 $0
Vikram Mansharamani Director May 10, 2022 A 4,119 0 0 $0
Gerald H Timmerman Director May 11, 2021 A 19,853 0 0 $0
Michael L Gallagher Director Aug. 21, 2020 F 6,272 0 0 $0
Clarence L Werner Director June 8, 2020 S 0 0 0 $0
Dwaine J Peetz JR Director May 12, 2020 A 14,144 0 0 $0
Patrick J Jung Director May 12, 2020 A 14,144 0 0 $0
Gregory L Werner Director Dec. 16, 2019 G 3,310,617 0 0 $0
Duane K Sather Director Aug. 15, 2017 F 13,528 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 71 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
PSCI · Invesco Exchange-Traded Fund Trust … 0.67% 34,998 SH Aug. 8, 2026 Daily
RZV · Invesco Exchange-Traded Fund Trust 0.60% 48,709 SH Aug. 8, 2026 Daily
AVUV · AMERICAN CENTURY ETF TRUST 0.38% 2,484,291 NS May 31, 2026 N-PORT
FYT · First Trust Exchange-Traded AlphaDE… 0.30% 14,765 NS April 30, 2026 N-PORT
FNDA · SCHWAB STRATEGIC TRUST 0.29% 628,537 NS May 31, 2026 N-PORT
VIOV · VANGUARD ADMIRAL FUNDS 0.28% 127,210 SH Aug. 8, 2026 Daily
IYT · iShares Trust 0.28% 168,943 SH Aug. 8, 2026 Daily
IJS · iShares Trust 0.24% 533,951 SH Aug. 8, 2026 Daily
TPOR · Direxion Shares ETF Trust 0.22% 1,099 NS April 30, 2026 N-PORT
FYX · First Trust Exchange-Traded AlphaDE… 0.22% 70,818 NS April 30, 2026 N-PORT
SMMV · iShares Trust 0.19% 14,890 SH Aug. 8, 2026 Daily
RWJ · Invesco Exchange-Traded Fund Trust … 0.17% 92,832 SH Aug. 8, 2026 Daily
DFSV · Dimensional ETF Trust 0.16% 326,031 NS April 30, 2026 N-PORT
VIOO · VANGUARD ADMIRAL FUNDS 0.14% 209,715 SH Aug. 8, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.14% 44,742 SH Aug. 8, 2026 Daily
XJR · iShares Trust 0.14% 7,086 SH Aug. 8, 2026 Daily
QVMS · Invesco Exchange-Traded Fund Trust … 0.14% 9,279 SH Aug. 8, 2026 Daily
AVSC · AMERICAN CENTURY ETF TRUST 0.13% 86,748 NS May 31, 2026 N-PORT
IWN · iShares Trust 0.12% 477,398 SH Aug. 8, 2026 Daily
IJR · iShares Trust 0.12% 3,654,127 SH Aug. 8, 2026 Daily
DFAT · Dimensional ETF Trust 0.12% 441,870 NS April 30, 2026 N-PORT
SAA · ProShares Trust 0.11% 716 NS May 31, 2026 N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.11% 20,863 NS April 30, 2026 N-PORT
SHPP · Pacer Funds Trust 0.10% 56 NS April 30, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.08% 349,474 SH Aug. 8, 2026 Daily
IWM · iShares Trust 0.07% 1,553,855 SH Aug. 8, 2026 Daily
ISCG · iShares Trust 0.07% 18,881 SH Aug. 8, 2026 Daily
RSSL · Global X Funds 0.07% 25,143 NS April 30, 2026 N-PORT
FAB · First Trust Exchange-Traded AlphaDE… 0.06% 2,297 NS April 30, 2026 N-PORT
ITWO · ProShares Trust 0.06% 2,729 NS May 31, 2026 N-PORT
VBR · VANGUARD INDEX FUNDS 0.06% 873,242 SH Aug. 8, 2026 Daily
DFAS · Dimensional ETF Trust 0.05% 204,286 NS April 30, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.05% 287,499 NS May 31, 2026 N-PORT
ESML · iShares Trust 0.05% 38,071 SH Aug. 8, 2026 Daily
EBI · RBB Fund Trust 0.04% 6,521 NS May 31, 2026 N-PORT
VIS · VANGUARD WORLD FUND 0.04% 72,928 SH Aug. 8, 2026 Daily
UWM · ProShares Trust 0.04% 2,135 NS May 31, 2026 N-PORT
DXUV · Dimensional ETF Trust 0.04% 3,826 NS April 30, 2026 N-PORT
ISCB · iShares Trust 0.03% 2,627 SH Aug. 8, 2026 Daily
FIDU · FIDELITY COVINGTON TRUST 0.03% 17,630 NS April 30, 2026 N-PORT
GSSC · Goldman Sachs ETF Trust 0.03% 7,282 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.03% 687,971 SH Aug. 8, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.03% 1,375,577 SH Aug. 8, 2026 Daily
OMFS · Invesco Exchange-Traded Self-Indexe… 0.03% 2,299 SH Aug. 8, 2026 Daily
URTY · ProShares Trust 0.03% 2,157 NS May 31, 2026 N-PORT
IWO · iShares Trust 0.02% 87,792 SH Aug. 8, 2026 Daily
FNDB · SCHWAB STRATEGIC TRUST 0.02% 6,929 NS May 31, 2026 N-PORT
ROSC · Lattice Strategies Trust 0.02% 305 NS April 30, 2026 N-PORT
WSML · iShares Trust 0.02% 3,645 SH Aug. 8, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.02% 10,296 SH Aug. 8, 2026 Daily