Werner Enterprises, Inc. — Earnings Quality Grade F
WERN · Industrials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 48 days, change +1 days YoY
AR growth 0.8% vs revenue growth -1.8%
Revenue -1.8%, CFFO -44.9%. Cash follows revenue
Expense Quality
Inventory -14.7% vs COGS -0.2%. Normal
CapEx growth -39.5% vs revenue -1.8%. Normal
SG&A/Gross Profit = 45.7%. Normal
Gross margin 9.7%, change -1.5pp. Stable
Cash Flow Quality
CFFO/NI = -12.63. Below 1.0
FCF < 50% of Net Income for 2 years
Accruals ratio = -6.8%. Low accruals
Cash $0.1B covers only 8% of debt $0.8B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 13% of equity. Manageable
Interest coverage = 1.4x (<2x). Financial stress
Other assets -15.9% vs revenue -1.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -15% YoY. Normal
Manipulation Score
M-Score = -2.78 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25