Werner Enterprises Inc (WERN)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	112,382	148,975	180,322	222,731	241,256	257,857	266,567	266,309	259,052	242,841	225,412	192,512	169,078	157,018	149,730	153,916	166,944	173,011	181,481	176,427
Total stockholders’ equity	US$ in thousands	1,528,340	1,512,220	1,497,070	1,470,540	1,443,640	1,386,560	1,343,870	1,341,460	1,327,550	1,306,560	1,296,580	1,227,730	1,195,040	1,180,140	1,136,390	1,102,040	1,111,010	1,064,800	1,032,340	1,275,390
ROE		7.35%	9.85%	12.04%	15.15%	16.71%	18.60%	19.84%	19.85%	19.51%	18.59%	17.39%	15.68%	14.15%	13.31%	13.18%	13.97%	15.03%	16.25%	17.58%	13.83%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $112,382K ÷ $1,528,340K
= 7.35%

The Return on Equity (ROE) of Werner Enterprises, Inc. has shown a declining trend over the past year, decreasing from 16.28% in Q4 2022 to 7.17% in Q4 2023. This indicates that the company's ability to generate profits from its shareholders' equity has weakened.

The ROE was relatively stable in the first three quarters of 2022, ranging between 18.09% and 19.32%. However, starting from Q4 2022, there has been a consistent decrease in ROE.

The downward trend in ROE could be a cause for concern as it suggests that the company may not be effectively utilizing its equity to generate returns for shareholders. Further analysis of the company's financial performance and management efficiency may be needed to identify the factors contributing to the declining ROE and to assess the company's future prospects.