debt_leverage_profile
0.55x Total Debt / Equity (Moderate leverage)
High
SEC-XBRL
interest_rate_sensitivity
Moderate; ~$800M debt at mixed fixed/variable rates; 200bps rise adds ~$16M annual interest expense, ~8% EPS dilution
Inferred
Agent_Inference
geopolitical_supply_exposure
Medium intensity; US-China trade tariffs on metals and components disrupt supply chains.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
US-Mexico border crossings (cross-border trucking volume) and Mississippi River corridor infrastructure for intermodal freight
Inferred
Agent_Inference
international_expansion_readiness
Minimal exposure; ~5% revenue international, primarily Mexico cross-border; MXN devaluation is primary sovereign currency risk
Inferred
Agent_Inference
geographic_footprint
~95% US domestic revenue; MXN exposure via Mexico cross-border lanes; CAD marginal; sovereign devaluation risk is low overall
Inferred
Agent_Inference
commodity_exposure_profile
Medium intensity; commodities: Steel, Aluminum, Copper, Crude Oil (fuel), Rare Earth Elements, Plastics/Resins; geopolitical: US-China trade tariffs on metals and components disrupt supply chains.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Freightliner/Daimler and Kenworth/PACCAR dominate truck fleet procurement; no single OEM exceeds 30% but switching costs are high mid-cycle
Inferred
Agent_Inference
business_model_type_primary
Asset-based trucking/logistics; minimal cloud dependency; TMS and dispatch systems could migrate in 60-90 days with operational disruption
Inferred
Agent_Inference
business_model_type_secondary
Logistics brokerage and intermodal; cloud disruption would impair load-matching and visibility platforms but core asset operations continue
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; Werner uses proprietary TMS with third-party EDI integrations; no dominant single API provider creates existential lock-in
Inferred
Agent_Inference
howey_test_risk_index
Fails Howey Test; revenue from freight transportation services, not investment contracts; no securities classification risk
Inferred
Agent_Inference
regulatory_burden_tier
Medium
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR exposure given US-centric operations; CCPA applies to California shipper/driver data; compliance posture adequate but not publicly audited
Inferred
Agent_Inference
antitrust_exposure_flag
Low; fragmented trucking market with thousands of carriers; Werner holds ~1% US TL market share; no meaningful antitrust exposure
Inferred
Agent_Inference
regulatory_exposure_profile
Medium burden; regimes: FAA, DOT, OSHA, EPA, ITAR, FTC; Export controls and defense procurement rules create contract concentration risk.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~70% transactional spot/contract freight; ~30% longer-term dedicated contracts providing partial recurring revenue visibility
Inferred
Agent_Inference
monetization_vector
Per-mile and per-load freight charges; dedicated fleet management fees; logistics brokerage commissions; fuel surcharge pass-throughs
Inferred
Agent_Inference
pricing_architecture
Cost-plus per-mile model with fuel surcharge mechanisms; vulnerable to spot rate compression in oversupplied freight markets
Inferred
Agent_Inference
pricing_power_rating
Moderate; dedicated contracts offer stability but spot exposure limits pricing power in downturns; rated 5/10 vs. asset-light peers
Inferred
Agent_Inference
target_gross_margin_bracket
Gross margin ~20-25%; operating ratio typically 88-93%; asset-heavy model structurally constrains margin expansion
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider problem; services are consumed and billed per transaction; dedicated contract stickiness moderate at 1-3 year terms
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is near-headcount-linear; driver hiring scales with truck fleet growth; non-driver overhead grows sublinearly
Inferred
Agent_Inference
marginal_cost_of_growth
High marginal cost; each revenue dollar requires driver, truck, and fuel investment; limited operating leverage vs. asset-light brokers
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Werner operates company-owned fleet model, not a franchise network
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, driver shortage and equipment capex become binding constraints; CAC rises sharply; network density improves lane efficiency marginally
Inferred
Agent_Inference
network_effect_present
Weak network effects; more shippers marginally improve load density and backhaul fill rates but no platform-style compounding network effect
Inferred
Agent_Inference
asset_efficiency_ratio
-0.7% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Tier 3 (cyclical); freight volumes and spot rates decline materially in recessions; 2009 and 2020 showed 10-20% revenue contractions
Inferred
Agent_Inference
customer_segment_primary
Large retailers, consumer goods manufacturers, and food/beverage companies; top 10 customers estimated ~30-40% of revenue
Inferred
Agent_Inference
customer_segment_secondary
Industrial manufacturers, automotive parts suppliers, and e-commerce fulfillment shippers; moderate concentration risk in retail vertical
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "33-0000 Protective Service Occupations", "37-0000 Building and Grounds Cleaning and Maintenance Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "51-0000 Production Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.3 (HIL — ~30% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
8.6% CapEx / Revenue (Moderate-CapEx)
High
SEC-XBRL
sec_cik
0000793074
High
SEC-EDGAR
ticker
WERN
High
SEC-EDGAR