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Werner Enterprises cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$54.8M in Q2 2026 · $53.4M over twelve months

Operating cash flow$83.8M
Capital spending−$29.0M
Free cash flow+$54.8M
Cash / net income15.7×

Analysis

In Q2 2026, Werner Enterprises generated $83.8M of operating cash flow and spent $29.0M on capital projects, leaving free cash flow of $54.8M. That is $97.1M more than in Q2 2025 (−$42.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was $274M; the largest uses were capital spending ($220M), acquisitions ($185M), dividends ($33.5M); besides operations, cash came from asset & business sales ($124M), net borrowing (+) / repaid (−) ($68.0M); the cash balance rose by $5.6M.

Operating cash flow was $83.8M against net income of $5.3M — 15.7× profit, cash ran ahead of reported earnings. The largest differences: payables −$17.2M, other liabilities +$13.6M, prepaid and other assets +$8.5M.

Free cash flow

Werner Enterprises: free cash flow by quarterWerner Enterprises: free cash flow by quarter−$73.4MQ3 2024−$9.8MQ4 2024$5.9MQ1 2025−$42.3MQ2 2025−$8.6MQ3 2025−$23.5MQ4 2025$30.7MQ1 2026$54.8MQ2 2026
Operating cash flow less capital spending.
Werner Enterprises: operating cash flow against capital spendingWerner Enterprises: operating cash flow against capital spendingOperating cash flowCapital spending$61.0M$134MQ3 2024$71.0M$80.8MQ4 2024$29.4M$23.5MQ1 2025$46.0M$88.3MQ2 2025$44.1M$52.7MQ3 2025$62.3M$85.8MQ4 2025$83.5M$52.8MQ1 2026$83.8M$29.0MQ2 2026
Latest (Q2 2026): Operating cash flow $83.8M, Capital spending $29.0M.

Capital allocation, year by year

Werner Enterprises: where the cash came from (up) and went (down), by fiscal yearWerner Enterprises: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $333MFY2021: Net borrowing $228MFY2021: Asset sales $178MFY2021: Capital spending −$371MFY2021: Acquisitions −$202MFY2021: Buybacks −$104MFY2021: Dividends −$29.1M$738MFY2021FY2022: Operating cash flow $449MFY2022: Net borrowing $266MFY2022: Asset sales $190MFY2022: Capital spending −$507MFY2022: Acquisitions −$184MFY2022: Buybacks −$110MFY2022: Dividends −$32.2M$905MFY2022FY2023: Operating cash flow $474MFY2023: Net borrowing −$45.0MFY2023: Asset sales $190MFY2023: Capital spending −$599MFY2023: Acquisitions −$188KFY2023: Dividends −$34.2M$664MFY2023FY2024: Operating cash flow $330MFY2024: Net borrowing $1.2MFY2024: Asset sales $179MFY2024: Capital spending −$414MFY2024: Buybacks −$67.1MFY2024: Dividends −$35.1M$510MFY2024FY2025: Operating cash flow $182MFY2025: Net borrowing $102MFY2025: Asset sales $87.6MFY2025: Capital spending −$250MFY2025: Buybacks −$55.6MFY2025: Dividends −$34.1M$371MFY2025
Over these 5 years operating cash flow totalled $1.8B; the largest uses were capital spending ($2.1B) and acquisitions ($386M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$57.0M
Debt$793M
Net debt$736M
Due within a year$8.6M

Werner Enterprises funds itself: free cash flow was $53.4M over the last twelve months, and $57.0M of cash and investments stands against $793M of debt ($8.6M due within a year, 6.6× covered by cash).

Werner Enterprises: debt maturities by year (FY2025)Werner Enterprises: debt maturities by year (FY2025)$427MYear 2$325MYear 3
Principal due in each year as disclosed in the annual report, against $57.0M of cash and investments now.

Where the cash came from and went

Werner Enterprises: sources (+) and uses (−) of cash, Q2 2026Werner Enterprises: sources (+) and uses (−) of cash, Q2 2026Net borrowing (+) / repaid (−)−$88.4MOperating cash flow$83.8MAsset & business sales$39.6MCapital spending−$29.0MDividends−$8.4MCash drawn (+) / kept (−)$4.5MOther investing−$2.4MExchange rates$366KTaxes on employees’ shares−$73K
Werner Enterprises: sources (+) and uses (−) of cash, TTM to Q2 2026Werner Enterprises: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$274MCapital spending−$220MAcquisitions−$185MAsset & business sales$124MNet borrowing (+) / repaid (−)$68.0MDividends−$33.5MOther investing−$12.6MOther financing−$7.6MCash drawn (+) / kept (−)−$5.6MTaxes on employees’ shares−$2.6MExchange rates$1.0MBuybacks$9K

From profit to cash

Werner Enterprises: net income to operating cash flow, Q2 2026Werner Enterprises: net income to operating cash flow, Q2 2026Net income$5.3MStock-based pay$3.3MDeferred taxes−$1.7MGains on disposals−$1.5MReceivables−$5.4MPayables−$17.2MPrepaid and other assets$8.5MOther liabilities$13.6MOperating cash flow$83.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$83.8M−$29.0M——−$8.4M−$88.4M$4.5M$54.8M
Q1 2026$83.5M−$52.8M−$185M—−$8.4M$123M−$1.6M$30.7M
Q4 2025$62.3M−$85.8M—$9K−$8.4M$27.0M−$8.9M−$23.5M
Q3 2025$44.1M−$52.7M——−$8.4M—$436K−$8.6M
Q2 2025$46.0M−$88.3M—−$55.6M−$8.7M$85.0M$531K−$42.3M
Q1 2025$29.4M−$23.5M——−$8.7M−$10.0M−$11.2M$5.9M
Q4 2024$71.0M−$80.8M—$17K−$8.7M−$40.0M$13.9M−$9.8M
Q3 2024$61.0M−$134M——−$8.7M$20.0M$15.8M−$73.4M

Werner Enterprises: income statement and cash flow

Werner Enterprises, Q3 2026: revenue $951M (+23% year over year), operating margin 1.8%. The chart follows the revenue to costs, profit and cash.

Werner Enterprises: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.