Westinghouse Air Brake Technologies (WAB) Financials

$202.97 +3.90 (+1.96%)

As of 02:13 PM Eastern

Annual Income Statements for Westinghouse Air Brake Technologies

This table shows Westinghouse Air Brake Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,056	815	633	558	414	327	295	262	305	399
Consolidated Net Income / (Loss)	1,067	825	641	565	412	327	292	262	313	399
Net Income / (Loss) Continuing Operations	1,067	825	641	565	412	327	292	262	313	399
Total Pre-Tax Income	1,410	1,092	854	737	557	447	368	352	413	585
Total Operating Income	1,609	1,266	1,011	876	745	663	473	421	457	608
Total Gross Profit	3,366	2,944	2,540	2,369	2,137	2,278	1,234	1,065	924	1,048
Total Revenue	10,387	9,677	8,362	7,822	7,556	8,200	4,364	3,882	2,931	3,308
Operating Revenue	10,387	9,677	8,362	7,822	7,556	8,200	4,364	3,882	2,931	3,308
Total Cost of Revenue	7,021	6,733	5,822	5,453	5,419	5,922	3,130	2,816	2,007	2,260
Operating Cost of Revenue	7,021	6,733	5,822	5,453	5,419	5,922	3,130	2,816	2,007	2,260
Total Operating Expenses	1,757	1,678	1,529	1,493	1,392	1,615	761	644	468	440
Selling, General & Admin Expense	1,248	1,139	1,029	1,030	948	1,167	633	513	374	347
Research & Development Expense	206	218	209	176	162	210	88	95	71	71
Amortization Expense	303	321	291	287	282	238	40	37	23	22
Total Other Income / (Expense), net	-199	-174	-157	-139	-188	-216	-106	-69	-44	-22
Interest Expense	201	218	186	177	199	219	112	78	50	17
Other Income / (Expense), net	2.00	44	29	38	11	3.00	6.40	8.90	6.53	-5.31
Income Tax Expense	343	267	213	172	145	120	76	90	99	187
Net Income / (Loss) Attributable to Noncontrolling Interest	11	10	8.00	7.00	-2.00	0.00	-3.20	0.00	8.52	0.00
Basic Earnings per Share	$6.05	$4.54	$3.46	$2.96	$2.18	$1.91	$3.06	$2.74	$3.37	$4.14
Weighted Average Basic Shares Outstanding	174.10M	178.80M	182.20M	187.70M	189.90M	170.50M	96M	95.50M	90.36M	96.07M
Diluted Earnings per Share	$6.04	$4.53	$3.46	$2.96	$2.17	$1.84	$3.05	$2.72	$3.34	$4.10
Weighted Average Diluted Shares Outstanding	174.80M	179.50M	182.80M	188.10M	190.40M	177.30M	96.50M	96.10M	91.14M	97.01M
Weighted Average Basic & Diluted Shares Outstanding	170.85M	177.03M	180.35M	185.29M	188.90M	383.42M	96.40M	95.70M	90.50M	96.30M
Cash Dividends to Common per Share	$0.80	$0.68	$0.60	$0.48	$0.48	$0.48	$0.48	$0.44	$0.36	$0.28

This table shows Westinghouse Air Brake Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	322	212	283	289	272	215	240	191	169	158	160
Consolidated Net Income / (Loss)	327	213	286	291	277	217	242	193	173	159	163
Net Income / (Loss) Continuing Operations	327	213	286	291	277	217	242	193	173	159	163
Total Pre-Tax Income	426	284	378	385	363	280	320	259	233	210	217
Total Operating Income	474	334	433	430	412	308	370	312	276	247	261
Total Gross Profit	900	797	880	874	815	764	792	723	665	652	648
Total Revenue	2,610	2,583	2,663	2,644	2,497	2,526	2,550	2,407	2,194	2,306	2,081
Operating Revenue	2,610	2,583	2,663	2,644	2,497	2,526	2,550	2,407	2,194	2,306	2,081
Total Cost of Revenue	1,710	1,786	1,783	1,770	1,682	1,762	1,758	1,684	1,529	1,654	1,433
Operating Cost of Revenue	1,710	1,786	1,783	1,770	1,682	1,762	1,758	1,684	1,529	1,654	1,433
Total Operating Expenses	426	463	447	444	403	456	422	411	389	405	387
Selling, General & Admin Expense	307	333	318	316	281	296	295	285	263	272	260
Research & Development Expense	46	51	50	57	48	61	53	53	51	60	54
Amortization Expense	73	79	79	71	74	99	74	73	75	73	73
Total Other Income / (Expense), net	-48	-50	-55	-45	-49	-28	-50	-53	-43	-37	-44
Interest Expense	46	-	-	-	47	-	-	-	48	51	48
Other Income / (Expense), net	-2.00	3.00	-3.00	4.00	-2.00	27	10	2.00	5.00	14	4.00
Income Tax Expense	99	71	92	94	86	63	78	66	60	51	54
Net Income / (Loss) Attributable to Noncontrolling Interest	5.00	1.00	3.00	2.00	5.00	2.00	2.00	2.00	4.00	1.00	3.00
Basic Earnings per Share	$1.88	$1.24	$1.63	$1.64	$1.54	$1.20	$1.34	$1.06	$0.94	$0.87	$0.88
Weighted Average Basic Shares Outstanding	170.50M	174.10M	173.40M	175.40M	176.50M	178.80M	178.60M	178.90M	179.90M	182.20M	181.30M
Diluted Earnings per Share	$1.88	$1.24	$1.63	$1.64	$1.53	$1.21	$1.33	$1.06	$0.93	$0.87	$0.88
Weighted Average Diluted Shares Outstanding	171.30M	174.80M	174.10M	176M	177.20M	179.50M	179.20M	179.40M	180.60M	182.80M	181.90M
Weighted Average Basic & Diluted Shares Outstanding	171.13M	170.85M	171.89M	175.18M	176.38M	177.03M	179.16M	179.13M	179.87M	180.35M	181.87M
Cash Dividends to Common per Share	$0.25	-	$0.20	$0.20	$0.20	-	$0.17	$0.17	$0.17	-	$0.15

This table details how cash moves in and out of Westinghouse Air Brake Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	95	79	68	-126	-5.00	-1,738	2,109	-942	714	-200
Net Cash From Operating Activities	1,834	1,201	1,038	1,073	784	1,016	315	189	451	451
Net Cash From Continuing Operating Activities	1,834	1,201	1,038	1,073	784	1,016	315	189	451	451
Net Income / (Loss) Continuing Operations	1,067	825	641	565	412	327	292	262	313	399
Consolidated Net Income / (Loss)	1,067	825	641	565	412	327	292	262	313	399
Depreciation Expense	503	531	479	491	473	401	109	103	70	65
Amortization Expense	-44	-54	-53	-50	-88	-82	0.00	0.00	-	-
Non-Cash Adjustments To Reconcile Net Income	70	54	44	42	30	66	26	23	21	27
Changes in Operating Assets and Liabilities, net	238	-155	-73	25	-43	304	-113	-200	46	-39
Net Cash From Investing Activities	-343	-492	-235	-540	-155	-3,178	-147	-1,034	-233	-380
Net Cash From Continuing Investing Activities	-343	-492	-235	-540	-155	-3,178	-147	-1,034	-233	-380
Purchase of Property, Plant & Equipment	-207	-186	-149	-130	-136	-186	-93	-90	-50	-49
Acquisitions	-168	-308	-89	-435	-40	-2,996	-51	-945	-183	-130
Sale of Property, Plant & Equipment	13	2.00	3.00	25	21	4.00	11	1.30	0.36	1.78
Divestitures	19	0.00	0.00	-	-	-	-	-	-	-
Net Cash From Financing Activities	-1,371	-633	-708	-653	-619	461	1,978	-97	523	-251
Net Cash From Continuing Financing Activities	-1,371	-633	-708	-653	-619	461	1,978	-97	523	-251
Repayment of Debt	-2,319	-5,519	-6,103	-5,546	-4,082	-3,429	-1,456	-1,270	-1,103	-613
Repurchase of Common Equity	-1,097	-409	-473	-300	-207	0.00	0.00	-	-212	-388
Payment of Dividends	-146	-140	-111	-92	-93	-82	-46	-42	-32	-27
Issuance of Debt	2,258	5,563	6,087	5,391	3,878	3,982	3,481	1,217	1,875	787
Other Financing Activities, net	-67	-128	-108	-106	-115	-10	0.00	-6.80	-6.66	-15
Effect of Exchange Rate Changes	-25	3.00	-27	-6.00	-15	-37	-37	-	-26	-19

This table details how cash moves in and out of Westinghouse Air Brake Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-17	305	-185	-44	19	228	21	-46	-124	27	13
Net Cash From Operating Activities	191	723	542	235	334	686	425	115	-25	410	204
Net Cash From Continuing Operating Activities	191	723	542	235	334	686	425	115	-25	410	204
Net Income / (Loss) Continuing Operations	327	213	286	291	277	217	242	193	173	159	163
Consolidated Net Income / (Loss)	327	213	286	291	277	217	242	193	173	159	163
Depreciation Expense	120	128	134	118	123	160	125	123	123	120	119
Amortization Expense	-10	-10	-11	-12	-11	-15	-13	-14	-12	-14	-14
Non-Cash Adjustments To Reconcile Net Income	17	24	18	14	14	14	15	12	13	9.00	12
Changes in Operating Assets and Liabilities, net	-263	368	115	-176	-69	310	56	-199	-322	136	-76
Net Cash From Investing Activities	-44	-237	-49	-38	-19	-156	-43	-261	-32	-86	-32
Net Cash From Continuing Investing Activities	-44	-237	-49	-38	-19	-156	-43	-261	-32	-86	-32
Purchase of Property, Plant & Equipment	-44	-84	-46	-46	-31	-77	-39	-38	-32	-67	-32
Sale of Property, Plant & Equipment	0.00	-	-7.00	8.00	12	2.00	-	-	0.00	1.00	-
Net Cash From Financing Activities	-172	-162	-686	-234	-289	-310	-353	102	-72	-313	-139
Net Cash From Continuing Financing Activities	-172	-162	-686	-234	-289	-310	-353	102	-72	-313	-139
Repayment of Debt	-193	-390	-73	-834	-1,022	-1,217	-1,709	-1,442	-1,151	-1,628	-1,258
Repurchase of Common Equity	-98	-123	-599	-200	-175	-157	-	-74	-178	-73	-1.00
Payment of Dividends	-43	-34	-40	-36	-36	-36	-30	-43	-31	-28	-28
Issuance of Debt	196	386	69	836	967	1,212	1,387	1,662	1,302	1,520	1,151
Other Financing Activities, net	-34	-1.00	-43	-	-23	-112	-1.00	-1.00	-14	-104	-3.00
Effect of Exchange Rate Changes	8.00	-19	8.00	-7.00	-7.00	8.00	-8.00	-2.00	5.00	16	-20

This table presents Westinghouse Air Brake Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	18,702	18,988	18,516	18,454	18,454	18,944	8,649	6,580	6,581	3,230
Total Current Assets	4,943	4,855	4,327	3,832	3,880	4,192	4,450	2,265	2,868	1,540
Cash & Equivalents	715	620	541	473	599	604	581	233	398	226
Accounts Receivable	1,702	1,684	1,519	1,477	1,412	1,664	1,147	1,167	943	599
Inventories, net	2,314	2,284	2,034	1,689	1,642	1,773	845	743	659	479
Other Current Assets	212	267	233	193	227	151	116	122	868	236
Plant, Property, & Equipment, net	1,447	1,485	1,429	1,497	1,601	1,656	564	574	518	353
Total Noncurrent Assets	12,312	12,648	12,760	13,125	12,973	13,096	3,636	3,741	3,195	1,336
Goodwill	8,710	8,780	8,508	8,587	8,485	8,361	2,397	2,460	2,079	859
Intangible Assets	2,934	3,205	3,402	3,705	3,869	4,104	1,130	1,204	1,054	441
Other Noncurrent Operating Assets	668	663	850	833	619	632	109	76	62	37
Total Liabilities & Shareholders' Equity	18,702	18,988	18,516	18,454	18,454	18,944	8,649	6,580	6,581	3,230
Total Liabilities	8,569	8,464	8,369	8,215	8,301	8,951	5,780	3,751	3,604	1,528
Total Current Liabilities	3,792	4,056	3,467	2,910	3,226	3,258	1,647	1,573	1,447	665
Short-Term Debt	500	781	251	2.00	447	96	64	47	130	0.43
Accounts Payable	1,300	1,250	1,301	1,012	909	1,158	589	553	530	320
Accrued Expenses	874	880	843	932	985	1,057	446	440	385	169
Customer Deposits	693	804	772	629	643	604	374	370	257	106
Current Employee Benefit Liabilities	425	341	300	335	242	344	173	164	145	70
Total Noncurrent Liabilities	4,777	4,408	4,902	5,305	5,075	5,693	4,134	2,178	2,158	863
Long-Term Debt	3,480	3,288	3,751	4,056	3,792	4,334	3,793	1,823	1,763	692
Noncurrent Deferred & Payable Income Tax Liabilities	376	318	326	288	168	145	198	176	246	73
Noncurrent Employee Benefit Liabilities	58	62	57	77	114	113	95	104	111	56
Other Noncurrent Operating Liabilities	863	740	768	884	1,001	1,101	47	75	38	43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Equity & Noncontrolling Interests	10,133	10,524	10,147	10,239	10,153	9,994	2,869	2,829	2,977	1,701
Total Preferred & Common Equity	10,091	10,487	10,102	10,201	10,123	9,957	2,865	2,809	2,206	1,700
Total Common Equity	10,091	10,487	10,102	10,201	10,123	9,957	2,865	2,809	2,206	1,700
Common Stock	8,025	7,979	7,955	7,918	7,883	7,879	916	908	871	471
Retained Earnings	6,185	5,269	4,577	4,055	3,589	3,267	3,022	2,773	2,553	2,281
Treasury Stock	-3,273	-2,171	-1,769	-1,306	-1,010	-807	-816	-827	-839	-775
Accumulated Other Comprehensive Income / (Loss)	-846	-590	-661	-466	-339	-383	-257	-45	-380	-277
Noncontrolling Interest	42	37	45	38	30	37	3.90	20	771	1.73

This table presents Westinghouse Air Brake Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	19,096	18,702	18,644	18,876	18,747	18,988	18,800	18,985	18,669	18,516	18,262
Total Current Assets	5,255	4,943	4,774	5,027	4,799	4,855	4,634	4,663	4,496	4,327	4,199
Cash & Equivalents	698	715	410	595	639	620	392	371	417	541	514
Accounts Receivable	1,932	1,702	1,782	1,801	1,541	1,684	1,714	1,698	1,576	1,519	1,462
Inventories, net	2,378	2,314	2,380	2,364	2,356	2,284	2,246	2,317	2,228	2,034	2,023
Other Current Assets	247	212	202	267	263	267	282	277	275	233	200
Plant, Property, & Equipment, net	1,462	1,447	1,439	1,439	1,445	1,485	1,419	1,443	1,422	1,429	1,402
Total Noncurrent Assets	12,379	12,312	12,431	12,410	12,503	12,648	12,747	12,879	12,751	12,760	12,661
Goodwill	8,787	8,710	8,786	8,706	8,730	8,780	8,590	8,657	8,540	8,508	8,361
Intangible Assets	2,892	2,934	2,996	3,031	3,115	3,205	3,267	3,359	3,333	3,402	3,410
Other Noncurrent Operating Assets	700	668	649	673	658	663	890	863	878	850	890
Total Liabilities & Shareholders' Equity	19,096	18,702	18,644	18,876	18,747	18,988	18,800	18,985	18,669	18,516	18,262
Total Liabilities	8,682	8,569	8,353	8,356	8,243	8,464	8,433	8,758	8,535	8,369	8,337
Total Current Liabilities	3,927	3,792	3,681	3,647	3,153	4,056	3,891	4,173	4,165	3,467	3,328
Short-Term Debt	504	500	500	503	3.00	781	759	989	975	251	251
Accounts Payable	1,324	1,300	1,338	1,331	1,288	1,250	1,243	1,307	1,353	1,301	1,206
Accrued Expenses	884	874	896	887	873	880	902	897	845	843	902
Customer Deposits	796	693	567	646	645	804	679	731	697	772	691
Current Employee Benefit Liabilities	419	425	380	280	344	341	308	249	295	300	278
Total Noncurrent Liabilities	4,755	4,777	4,672	4,709	5,090	4,408	4,542	4,585	4,370	4,902	5,009
Long-Term Debt	3,503	3,480	3,517	3,494	3,997	3,288	3,288	3,401	3,189	3,751	3,824
Noncurrent Deferred & Payable Income Tax Liabilities	390	376	295	323	321	318	355	359	333	326	287
Noncurrent Employee Benefit Liabilities	60	58	62	61	62	62	63	64	58	57	63
Other Noncurrent Operating Liabilities	802	863	798	831	710	740	836	761	790	768	835
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10,414	10,133	10,291	10,520	10,504	10,524	10,367	10,227	10,134	10,147	9,925
Total Preferred & Common Equity	10,368	10,091	10,250	10,477	10,462	10,487	10,326	10,188	10,085	10,102	9,881
Total Common Equity	10,368	10,091	10,250	10,477	10,462	10,487	10,326	10,188	10,085	10,102	9,881
Common Stock	8,010	8,025	8,001	7,983	7,969	7,979	7,967	7,951	7,942	7,955	7,939
Retained Earnings	3,160	6,185	6,007	5,759	5,505	5,269	5,085	4,875	4,715	4,577	4,447
Treasury Stock	-69	-3,273	-3,151	-2,545	-2,345	-2,171	-2,013	-2,014	-1,941	-1,769	-1,697
Accumulated Other Comprehensive Income / (Loss)	-733	-846	-607	-720	-667	-590	-713	-624	-631	-661	-808
Noncontrolling Interest	46	42	41	43	42	37	41	39	49	45	44

This table displays calculated financial ratios and metrics derived from Westinghouse Air Brake Technologies' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.34%	15.73%	6.90%	3.52%	-7.85%	87.92%	12.41%	32.43%	-11.39%	8.66%
EBITDA Growth	15.84%	21.90%	8.19%	18.76%	15.84%	67.20%	10.48%	0.05%	-20.10%	13.69%
EBIT Growth	22.98%	25.96%	13.79%	20.90%	13.51%	38.81%	11.58%	-7.15%	-23.10%	14.62%
NOPAT Growth	27.30%	26.04%	13.00%	21.87%	13.62%	29.11%	19.75%	-9.50%	-16.22%	13.35%
Net Income Growth	29.33%	28.71%	13.45%	37.14%	25.99%	12.10%	11.21%	-16.31%	-21.38%	13.35%
EPS Growth	33.33%	30.92%	16.89%	36.41%	17.93%	-39.67%	12.13%	-18.56%	-18.54%	13.26%
Operating Cash Flow Growth	52.71%	15.70%	-3.26%	36.86%	-22.83%	222.85%	66.68%	-58.09%	-0.07%	-4.56%
Free Cash Flow Firm Growth	203.08%	-39.33%	52.19%	11.06%	106.44%	-2,055.79%	43.38%	116.31%	-1,404.70%	-29.74%
Invested Capital Growth	-4.12%	2.68%	-1.56%	0.22%	-0.19%	215.23%	-1.84%	-0.12%	106.29%	13.85%
Revenue Q/Q Growth	0.55%	2.33%	2.87%	0.64%	33.39%	-10.73%	0.98%	8.85%	-2.43%	0.36%
EBITDA Q/Q Growth	-1.19%	6.75%	-1.28%	9.68%	-2.26%	21.25%	-0.21%	6.71%	-13.37%	1.40%
EBIT Q/Q Growth	0.12%	5.99%	-1.52%	13.71%	-8.07%	26.46%	-0.27%	6.89%	-15.68%	1.51%
NOPAT Q/Q Growth	0.98%	5.76%	-3.87%	17.41%	-9.77%	34.43%	0.00%	-3.71%	-9.05%	1.53%
Net Income Q/Q Growth	-0.37%	7.56%	-5.04%	23.23%	-11.05%	45.87%	-4.84%	1.30%	-15.03%	2.33%
EPS Q/Q Growth	0.50%	8.11%	-4.16%	23.33%	-15.56%	38.35%	-4.69%	3.42%	-16.08%	1.49%
Operating Cash Flow Q/Q Growth	2.06%	29.84%	10.19%	-1.10%	-13.50%	20.32%	57.12%	-17.97%	1.83%	-40.20%
Free Cash Flow Firm Q/Q Growth	34.80%	60.57%	-12.11%	24.62%	-23.12%	-0.72%	288.50%	118.17%	-732.70%	-46.12%
Invested Capital Q/Q Growth	-3.60%	-0.35%	0.90%	0.13%	0.33%	-0.49%	-5.53%	1.90%	94.40%	-2.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.41%	30.42%	30.38%	30.29%	28.28%	27.78%	28.28%	27.44%	31.53%	31.68%
EBITDA Margin	19.93%	18.47%	17.53%	17.32%	15.10%	12.01%	13.50%	13.74%	18.18%	20.16%
Operating Margin	15.49%	13.08%	12.09%	11.20%	9.86%	8.09%	10.85%	10.85%	15.58%	18.37%
EBIT Margin	15.51%	13.54%	12.44%	11.69%	10.01%	8.12%	11.00%	11.08%	15.80%	18.21%
Profit (Net Income) Margin	10.27%	8.53%	7.67%	7.22%	5.45%	3.99%	6.69%	6.76%	10.69%	12.05%
Tax Burden Percent	75.67%	75.55%	75.06%	76.66%	73.97%	73.15%	79.35%	74.50%	75.91%	68.10%
Interest Burden Percent	87.52%	83.36%	82.12%	80.63%	73.68%	67.12%	76.62%	81.88%	89.14%	97.20%
Effective Tax Rate	24.33%	24.45%	24.94%	23.34%	26.03%	26.85%	20.65%	25.50%	24.09%	31.90%
Return on Invested Capital (ROIC)	8.90%	6.94%	5.53%	4.86%	3.99%	5.33%	8.49%	7.02%	10.44%	20.33%
ROIC Less NNEP Spread (ROIC-NNEP)	4.41%	3.13%	2.19%	1.91%	0.27%	-0.59%	3.16%	3.74%	7.05%	14.94%
Return on Net Nonoperating Assets (RNNOA)	1.43%	1.05%	0.76%	0.68%	0.10%	-0.24%	1.75%	2.02%	2.96%	2.39%
Return on Equity (ROE)	10.33%	7.98%	6.29%	5.54%	4.09%	5.08%	10.24%	9.04%	13.40%	22.72%
Cash Return on Invested Capital (CROIC)	13.10%	4.29%	7.11%	4.64%	4.18%	-98.34%	10.34%	7.14%	-58.96%	7.37%
Operating Return on Assets (OROA)	8.55%	6.99%	5.63%	4.95%	4.04%	4.83%	6.30%	6.53%	9.44%	18.44%
Return on Assets (ROA)	5.66%	4.40%	3.47%	3.06%	2.20%	2.37%	3.83%	3.99%	6.39%	12.20%
Return on Common Equity (ROCE)	10.29%	7.95%	6.26%	5.52%	4.08%	5.07%	10.20%	7.81%	11.19%	22.70%
Return on Equity Simple (ROE_SIMPLE)	10.57%	7.87%	6.35%	5.54%	4.07%	3.28%	10.18%	9.34%	14.21%	23.45%
Net Operating Profit after Tax (NOPAT)	1,218	956	759	672	551	485	376	314	347	414
NOPAT Margin	11.72%	9.88%	9.07%	8.59%	7.29%	5.91%	8.61%	8.08%	11.83%	12.51%
Net Nonoperating Expense Percent (NNEP)	4.49%	3.80%	3.34%	2.95%	3.73%	5.92%	5.33%	3.28%	3.39%	5.39%
Return On Investment Capital (ROIC_SIMPLE)	8.63%	6.55%	5.36%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	67.59%	69.58%	69.62%	69.71%	71.72%	72.22%	71.72%	72.56%	68.47%	68.32%
SG&A Expenses to Revenue	12.02%	11.77%	12.31%	13.17%	12.55%	14.23%	14.51%	13.20%	12.74%	10.50%
R&D to Revenue	1.98%	2.25%	2.50%	2.25%	2.14%	2.56%	2.01%	2.45%	2.44%	2.15%
Operating Expenses to Revenue	16.92%	17.34%	18.29%	19.09%	18.42%	19.70%	17.43%	16.60%	15.95%	13.31%
Earnings before Interest and Taxes (EBIT)	1,611	1,310	1,040	914	756	666	480	430	463	602
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,070	1,787	1,466	1,355	1,141	985	589	533	533	667
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.23	2.16	1.78	1.66	1.34	1.45	2.28	2.67	3.19	3.83
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	16.24
Price to Revenue (P/Rev)	3.14	2.34	2.15	2.16	1.80	1.76	1.50	1.93	2.40	1.97
Price to Earnings (P/E)	30.86	27.76	28.35	30.28	32.86	44.21	22.17	28.55	23.10	16.31
Dividend Yield	0.42%	0.54%	0.76%	0.53%	0.67%	0.64%	0.71%	0.56%	0.46%	0.42%
Earnings Yield	3.24%	3.60%	3.53%	3.30%	3.04%	2.26%	4.51%	3.50%	4.33%	6.13%
Enterprise Value to Invested Capital (EV/IC)	2.68	1.87	1.58	1.48	1.25	1.33	1.84	2.05	2.08	3.22
Enterprise Value to Revenue (EV/Rev)	3.46	2.70	2.57	2.62	2.29	2.23	1.85	2.36	3.18	2.11
Enterprise Value to EBITDA (EV/EBITDA)	17.34	14.61	14.63	15.14	15.14	18.60	13.67	17.15	17.47	10.45
Enterprise Value to EBIT (EV/EBIT)	22.28	19.93	20.63	22.45	22.85	27.50	16.79	21.27	20.10	11.57
Enterprise Value to NOPAT (EV/NOPAT)	29.48	27.30	28.27	30.55	31.35	37.77	21.44	29.15	26.86	16.85
Enterprise Value to Operating Cash Flow (EV/OCF)	19.57	21.74	20.67	19.12	22.03	18.03	25.60	48.44	20.66	15.46
Enterprise Value to Free Cash Flow (EV/FCFF)	20.02	44.14	22.01	32.03	29.95	0.00	17.60	28.65	0.00	46.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.39	0.39	0.39	0.40	0.42	0.44	1.34	0.66	0.64	0.41
Long-Term Debt to Equity	0.34	0.31	0.37	0.40	0.37	0.43	1.32	0.64	0.59	0.41
Financial Leverage	0.33	0.33	0.35	0.35	0.37	0.42	0.55	0.54	0.42	0.16
Leverage Ratio	1.82	1.81	1.81	1.81	1.86	2.15	2.67	2.27	2.10	1.86
Compound Leverage Factor	1.60	1.51	1.49	1.46	1.37	1.44	2.05	1.86	1.87	1.81
Debt to Total Capital	28.20%	27.88%	28.28%	28.38%	29.45%	30.71%	57.34%	39.81%	38.87%	28.92%
Short-Term Debt to Total Capital	3.54%	5.35%	1.77%	0.01%	3.11%	0.66%	0.95%	1.01%	2.67%	0.02%
Long-Term Debt to Total Capital	24.66%	22.53%	26.51%	28.37%	26.35%	30.05%	56.39%	38.80%	36.20%	28.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.30%	0.25%	0.32%	0.27%	0.21%	0.26%	0.06%	0.42%	15.83%	0.07%
Common Equity to Total Capital	71.50%	71.86%	71.40%	71.35%	70.34%	69.03%	42.60%	59.78%	45.30%	71.01%
Debt to EBITDA	1.92	2.28	2.73	2.99	3.72	4.50	6.55	3.51	3.55	1.04
Net Debt to EBITDA	1.58	1.93	2.36	2.65	3.19	3.88	2.57	3.07	2.80	0.70
Long-Term Debt to EBITDA	1.68	1.84	2.56	2.99	3.32	4.40	6.44	3.42	3.31	1.04
Debt to NOPAT	3.27	4.25	5.27	6.04	7.69	9.13	10.27	5.96	5.46	1.67
Net Debt to NOPAT	2.68	3.61	4.56	5.34	6.61	7.89	4.03	5.22	4.31	1.13
Long-Term Debt to NOPAT	2.86	3.44	4.94	6.04	6.88	8.94	10.10	5.81	5.09	1.67
Altman Z-Score	3.66	2.78	2.33	2.19	1.84	1.82	2.24	2.72	2.65	5.51
Noncontrolling Interest Sharing Ratio	0.38%	0.40%	0.41%	0.33%	0.33%	0.32%	0.41%	13.62%	16.51%	0.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.30	1.20	1.25	1.32	1.20	1.29	2.70	1.44	1.98	2.32
Quick Ratio	0.64	0.57	0.59	0.67	0.62	0.70	1.05	0.89	0.93	1.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,793	591	975	641	577	-8,950	458	319	-1,957	150
Operating Cash Flow to CapEx	945.36%	652.72%	710.96%	1,021.90%	681.74%	558.24%	383.78%	214.06%	903.72%	946.28%
Free Cash Flow to Firm to Interest Expense	8.92	2.71	5.24	3.62	2.90	-40.87	4.08	4.10	-38.91	8.88
Operating Cash Flow to Interest Expense	9.12	5.51	5.58	6.06	3.94	4.64	2.80	2.42	8.96	26.70
Operating Cash Flow Less CapEx to Interest Expense	8.16	4.67	4.80	5.47	3.36	3.81	2.07	1.29	7.97	23.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.52	0.45	0.42	0.40	0.59	0.57	0.59	0.60	1.01
Accounts Receivable Turnover	6.14	6.04	5.58	5.42	4.91	5.83	3.77	3.68	3.80	5.38
Inventory Turnover	3.05	3.12	3.13	3.27	3.17	4.52	3.94	4.02	3.53	4.57
Fixed Asset Turnover	7.09	6.64	5.72	5.05	4.64	7.39	7.67	7.11	6.73	9.56
Accounts Payable Turnover	5.51	5.28	5.03	5.68	5.24	6.78	5.48	5.20	4.72	6.28
Days Sales Outstanding (DSO)	59.49	60.41	65.39	67.41	74.29	62.56	96.76	99.17	95.96	67.86
Days Inventory Outstanding (DIO)	119.52	117.04	116.70	111.48	115.01	80.68	92.58	90.79	103.40	79.90
Days Payable Outstanding (DPO)	66.28	69.15	72.50	64.29	69.60	53.83	66.59	70.16	77.27	58.09
Cash Conversion Cycle (CCC)	112.73	108.30	109.59	114.59	119.71	89.40	122.75	119.80	122.09	89.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,398	13,973	13,608	13,824	13,793	13,819	4,384	4,466	4,471	2,167
Invested Capital Turnover	0.76	0.70	0.61	0.57	0.55	0.90	0.99	0.87	0.88	1.63
Increase / (Decrease) in Invested Capital	-575	365	-216	31	-26	9,435	-82	-5.46	2,304	264
Enterprise Value (EV)	35,896	26,109	21,453	20,518	17,273	18,318	8,056	9,145	9,309	6,971
Market Capitalization	32,589	22,623	17,947	16,895	13,603	14,456	6,537	7,488	7,044	6,503
Book Value per Share	$58.71	$58.53	$55.55	$54.60	$53.19	$51.94	$29.66	$29.26	$24.77	$17.62
Tangible Book Value per Share	($9.03)	($8.36)	($9.94)	($11.19)	($11.72)	($13.08)	($6.84)	($8.91)	($10.40)	$4.15
Total Capital	14,113	14,593	14,149	14,297	14,392	14,423	6,726	4,699	4,870	2,394
Total Debt	3,980	4,069	4,002	4,058	4,239	4,429	3,857	1,871	1,893	692
Total Long-Term Debt	3,480	3,288	3,751	4,056	3,792	4,334	3,793	1,823	1,763	692
Net Debt	3,265	3,449	3,461	3,585	3,640	3,825	1,515	1,637	1,494	466
Capital Expenditures (CapEx)	194	184	146	105	115	182	82	88	50	48
Debt-free, Cash-free Net Working Capital (DFCFNWC)	936	960	570	451	502	426	525	506	1,152	649
Debt-free Net Working Capital (DFNWC)	1,651	1,580	1,111	924	1,101	1,030	2,867	739	1,551	876
Net Working Capital (NWC)	1,151	799	860	922	654	934	2,803	692	1,421	875
Net Nonoperating Expense (NNE)	151	131	118	107	139	158	84	51	33	15
Net Nonoperating Obligations (NNO)	3,265	3,449	3,461	3,585	3,640	3,825	1,515	1,637	1,494	466
Total Depreciation and Amortization (D&A)	459	477	426	441	385	319	109	103	70	65
Debt-free, Cash-free Net Working Capital to Revenue	9.01%	9.92%	6.82%	5.77%	6.64%	5.19%	12.03%	13.03%	39.31%	19.63%
Debt-free Net Working Capital to Revenue	15.89%	16.33%	13.29%	11.81%	14.57%	12.56%	65.71%	19.04%	52.91%	26.47%
Net Working Capital to Revenue	11.08%	8.26%	10.28%	11.79%	8.66%	11.39%	64.24%	17.82%	48.48%	26.46%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.05	$4.54	$3.46	$2.96	$2.18	$1.91	$3.06	$2.74	$3.37	$4.14
Adjusted Weighted Average Basic Shares Outstanding	174.10M	178.80M	182.20M	187.70M	189.90M	170.50M	95.99M	95.45M	90.36M	96.07M
Adjusted Diluted Earnings per Share	$6.04	$4.53	$3.46	$2.96	$2.17	$1.84	$3.05	$2.72	$3.34	$4.10
Adjusted Weighted Average Diluted Shares Outstanding	174.80M	179.50M	182.80M	188.10M	190.40M	177.30M	96.46M	96.13M	91.14M	97.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	170.85M	177.03M	180.35M	185.29M	188.90M	383.42M	96.61M	96.09M	95.79M	91.93M
Normalized Net Operating Profit after Tax (NOPAT)	1,218	956	759	672	551	485	376	314	347	414
Normalized NOPAT Margin	11.72%	9.88%	9.07%	8.59%	7.29%	5.91%	8.61%	8.08%	11.83%	12.51%
Pre Tax Income Margin	13.57%	11.28%	10.21%	9.42%	7.37%	5.45%	8.42%	9.07%	14.08%	17.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.01	6.01	5.59	5.16	3.80	3.04	4.28	5.52	9.21	35.66
NOPAT to Interest Expense	6.06	4.39	4.08	3.79	2.77	2.21	3.35	4.03	6.89	24.50
EBIT Less CapEx to Interest Expense	7.05	5.17	4.81	4.57	3.22	2.21	3.55	4.39	8.22	32.84
NOPAT Less CapEx to Interest Expense	5.09	3.54	3.29	3.20	2.19	1.38	2.62	2.89	5.90	21.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.68%	16.97%	17.32%	16.28%	22.57%	25.08%	15.87%	16.09%	10.35%	6.76%
Augmented Payout Ratio	116.49%	66.55%	91.11%	69.38%	72.82%	25.08%	15.87%	16.09%	78.05%	104.04%

This table displays calculated financial ratios and metrics derived from Westinghouse Air Brake Technologies' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.53%	2.26%	4.43%	9.85%	13.81%	9.54%	22.54%	17.53%	13.86%	11.24%	9.12%
EBITDA Growth	11.49%	-5.21%	12.40%	27.66%	33.16%	30.79%	32.97%	12.50%	11.05%	-4.92%	14.55%
EBIT Growth	15.12%	0.60%	13.16%	38.22%	45.91%	28.35%	43.40%	15.87%	15.64%	-5.78%	22.12%
NOPAT Growth	15.73%	4.94%	17.08%	39.79%	53.42%	27.64%	42.72%	18.29%	14.32%	-13.75%	19.78%
Net Income Growth	18.05%	-1.84%	18.18%	50.78%	60.12%	36.48%	48.47%	14.20%	15.33%	-17.62%	23.48%
EPS Growth	22.88%	2.48%	22.56%	54.72%	64.52%	39.08%	51.14%	16.48%	16.25%	-14.71%	27.54%
Operating Cash Flow Growth	-42.81%	5.39%	27.53%	104.35%	1,436.00%	67.32%	108.33%	-56.27%	-115.53%	30.57%	-16.39%
Free Cash Flow Firm Growth	53.10%	753.60%	276.28%	283.08%	102.78%	-131.34%	-149.66%	-172.05%	-47.62%	116.89%	388.13%
Invested Capital Growth	-1.02%	-4.12%	-0.88%	-2.27%	-0.12%	2.68%	3.97%	4.30%	0.30%	-1.56%	-2.32%
Revenue Q/Q Growth	1.05%	-3.00%	0.72%	5.89%	-1.15%	-0.94%	5.94%	9.71%	-4.86%	10.81%	1.61%
EBITDA Q/Q Growth	27.91%	-17.72%	2.41%	3.45%	8.75%	-2.44%	16.31%	7.91%	6.81%	-0.81%	-1.60%
EBIT Q/Q Growth	40.06%	-21.63%	-0.92%	5.85%	22.39%	-11.84%	21.02%	11.74%	7.66%	-1.51%	-2.21%
NOPAT Q/Q Growth	45.25%	-23.54%	0.80%	3.38%	31.71%	-14.69%	20.35%	13.45%	9.58%	-4.61%	-0.25%
Net Income Q/Q Growth	53.52%	-25.52%	-1.72%	5.05%	27.65%	-10.33%	25.39%	11.56%	8.81%	-2.45%	-3.55%
EPS Q/Q Growth	51.61%	-23.93%	-0.61%	7.19%	26.45%	-9.02%	25.47%	13.98%	6.90%	-1.14%	-3.30%
Operating Cash Flow Q/Q Growth	-73.58%	33.39%	130.64%	-29.64%	-51.31%	61.41%	269.57%	560.00%	-106.10%	100.98%	-22.43%
Free Cash Flow Firm Q/Q Growth	-38.72%	82.79%	-30.42%	96.44%	361.59%	50.70%	27.73%	-317.59%	-59.57%	-21.87%	4.84%
Invested Capital Q/Q Growth	2.43%	-3.60%	-0.17%	0.41%	-0.77%	-0.35%	-1.57%	2.63%	2.01%	0.90%	-1.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.48%	30.86%	33.05%	33.06%	32.64%	30.25%	31.06%	30.04%	30.31%	28.27%	31.14%
EBITDA Margin	22.30%	17.62%	20.77%	20.42%	20.91%	19.00%	19.29%	17.57%	17.87%	15.92%	17.78%
Operating Margin	18.16%	12.93%	16.26%	16.26%	16.50%	12.19%	14.51%	12.96%	12.58%	10.71%	12.54%
EBIT Margin	18.08%	13.05%	16.15%	16.41%	16.42%	13.26%	14.90%	13.05%	12.81%	11.32%	12.73%
Profit (Net Income) Margin	12.53%	8.25%	10.74%	11.01%	11.09%	8.59%	9.49%	8.02%	7.89%	6.90%	7.83%
Tax Burden Percent	76.76%	75.00%	75.66%	75.58%	76.31%	77.50%	75.63%	74.52%	74.25%	75.71%	75.12%
Interest Burden Percent	90.25%	84.27%	87.91%	88.71%	88.54%	83.58%	84.21%	82.48%	82.92%	80.46%	81.89%
Effective Tax Rate	23.24%	25.00%	24.34%	24.42%	23.69%	22.50%	24.38%	25.48%	25.75%	24.29%	24.88%
Return on Invested Capital (ROIC)	10.61%	7.36%	9.10%	8.92%	9.06%	6.63%	7.54%	6.22%	5.82%	4.94%	5.61%
ROIC Less NNEP Spread (ROIC-NNEP)	9.51%	6.24%	7.96%	8.00%	8.01%	6.00%	6.50%	5.20%	4.96%	4.15%	4.69%
Return on Net Nonoperating Assets (RNNOA)	3.03%	2.03%	2.80%	2.86%	2.76%	2.01%	2.31%	1.99%	1.84%	1.43%	1.67%
Return on Equity (ROE)	13.64%	9.39%	11.90%	11.78%	11.81%	8.64%	9.86%	8.22%	7.66%	6.38%	7.29%
Cash Return on Invested Capital (CROIC)	10.22%	13.10%	9.53%	10.52%	7.80%	4.29%	2.68%	1.67%	5.36%	7.11%	8.13%
Operating Return on Assets (OROA)	10.04%	7.19%	8.91%	8.86%	8.76%	6.84%	7.61%	6.28%	5.96%	5.12%	5.65%
Return on Assets (ROA)	6.95%	4.55%	5.93%	5.94%	5.92%	4.43%	4.84%	3.86%	3.67%	3.12%	3.48%
Return on Common Equity (ROCE)	13.59%	9.35%	11.85%	11.73%	11.76%	8.60%	9.81%	8.18%	7.62%	6.35%	7.26%
Return on Equity Simple (ROE_SIMPLE)	10.77%	0.00%	10.45%	9.80%	8.88%	0.00%	7.43%	6.75%	6.58%	0.00%	6.83%
Net Operating Profit after Tax (NOPAT)	364	251	328	325	314	239	280	232	205	187	196
NOPAT Margin	13.94%	9.70%	12.30%	12.29%	12.59%	9.45%	10.97%	9.66%	9.34%	8.11%	9.42%
Net Nonoperating Expense Percent (NNEP)	1.10%	1.12%	1.15%	0.92%	1.05%	0.63%	1.05%	1.02%	0.85%	0.80%	0.92%
Return On Investment Capital (ROIC_SIMPLE)	2.52%	1.78%	-	-	-	1.64%	-	-	-	1.32%	-
Cost of Revenue to Revenue	65.52%	69.14%	66.95%	66.94%	67.36%	69.75%	68.94%	69.96%	69.69%	71.73%	68.86%
SG&A Expenses to Revenue	11.76%	12.89%	11.94%	11.95%	11.25%	11.72%	11.57%	11.84%	11.99%	11.80%	12.49%
R&D to Revenue	1.76%	1.97%	1.88%	2.16%	1.92%	2.41%	2.08%	2.20%	2.32%	2.60%	2.59%
Operating Expenses to Revenue	16.32%	17.92%	16.79%	16.79%	16.14%	18.05%	16.55%	17.08%	17.73%	17.56%	18.60%
Earnings before Interest and Taxes (EBIT)	472	337	430	434	410	335	380	314	281	261	265
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	582	455	553	540	522	480	492	423	392	367	370
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.99	3.23	3.11	2.66	2.49	2.16	1.83	1.92	1.79	1.78	1.48
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.95	3.14	3.08	2.73	2.61	2.34	2.00	2.18	2.09	2.15	1.80
Price to Earnings (P/E)	28.01	30.86	30.07	27.40	28.36	27.76	24.98	28.89	27.67	28.35	21.95
Dividend Yield	0.47%	0.42%	0.42%	0.47%	0.49%	0.54%	0.77%	0.73%	0.77%	0.76%	0.71%
Earnings Yield	3.57%	3.24%	3.33%	3.65%	3.53%	3.60%	4.00%	3.46%	3.61%	3.53%	4.56%
Enterprise Value to Invested Capital (EV/IC)	2.50	2.68	2.55	2.25	2.12	1.87	1.61	1.66	1.58	1.58	1.35
Enterprise Value to Revenue (EV/Rev)	3.27	3.46	3.44	3.06	2.95	2.70	2.39	2.63	2.53	2.57	2.24
Enterprise Value to EBITDA (EV/EBITDA)	16.12	17.34	16.94	15.38	15.36	14.61	13.52	15.24	14.53	14.63	12.26
Enterprise Value to EBIT (EV/EBIT)	20.53	22.28	22.06	20.07	20.46	19.93	18.31	21.10	20.28	20.63	17.24
Enterprise Value to NOPAT (EV/NOPAT)	27.10	29.48	29.43	27.02	27.62	27.30	25.02	28.82	27.87	28.27	23.06
Enterprise Value to Operating Cash Flow (EV/OCF)	20.31	19.57	19.75	18.62	18.87	21.74	24.46	33.59	25.66	20.67	19.32
Enterprise Value to Free Cash Flow (EV/FCFF)	24.37	20.02	26.69	21.11	27.21	44.14	61.44	101.27	29.45	22.01	16.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.39	0.39	0.38	0.38	0.39	0.39	0.43	0.41	0.39	0.41
Long-Term Debt to Equity	0.34	0.34	0.34	0.33	0.38	0.31	0.32	0.33	0.31	0.37	0.39
Financial Leverage	0.32	0.33	0.35	0.36	0.34	0.33	0.36	0.38	0.37	0.35	0.36
Leverage Ratio	1.81	1.82	1.81	1.82	1.81	1.81	1.83	1.85	1.84	1.81	1.82
Compound Leverage Factor	1.63	1.54	1.59	1.62	1.61	1.52	1.54	1.53	1.52	1.46	1.49
Debt to Total Capital	27.79%	28.20%	28.08%	27.53%	27.58%	27.88%	28.08%	30.03%	29.12%	28.28%	29.11%
Short-Term Debt to Total Capital	3.49%	3.54%	3.49%	3.46%	0.02%	5.35%	5.27%	6.77%	6.82%	1.77%	1.79%
Long-Term Debt to Total Capital	24.29%	24.66%	24.58%	24.07%	27.56%	22.53%	22.81%	23.27%	22.30%	26.51%	27.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.32%	0.30%	0.29%	0.30%	0.29%	0.25%	0.28%	0.27%	0.34%	0.32%	0.31%
Common Equity to Total Capital	71.90%	71.50%	71.64%	72.17%	72.13%	71.86%	71.64%	69.70%	70.53%	71.40%	70.58%
Debt to EBITDA	1.88	1.92	1.92	1.97	2.09	2.28	2.42	2.83	2.77	2.73	2.74
Net Debt to EBITDA	1.55	1.58	1.72	1.67	1.75	1.93	2.18	2.59	2.49	2.36	2.40
Long-Term Debt to EBITDA	1.64	1.68	1.68	1.72	2.09	1.84	1.96	2.19	2.12	2.56	2.58
Debt to NOPAT	3.16	3.27	3.33	3.45	3.75	4.25	4.48	5.35	5.31	5.27	5.16
Net Debt to NOPAT	2.61	2.68	2.99	2.94	3.15	3.61	4.04	4.90	4.78	4.56	4.51
Long-Term Debt to NOPAT	2.76	2.86	2.92	3.02	3.75	3.44	3.64	4.15	4.06	4.94	4.84
Altman Z-Score	3.09	3.43	3.44	3.13	3.02	2.61	2.34	2.26	2.16	2.19	1.94
Noncontrolling Interest Sharing Ratio	0.42%	0.38%	0.40%	0.40%	0.44%	0.40%	0.42%	0.40%	0.44%	0.41%	0.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.34	1.30	1.30	1.38	1.52	1.20	1.19	1.12	1.08	1.25	1.26
Quick Ratio	0.67	0.64	0.60	0.66	0.69	0.57	0.54	0.50	0.48	0.59	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	506	826	452	649	330	-126	-256	-355	163	403	516
Operating Cash Flow to CapEx	434.09%	860.71%	1,022.64%	618.42%	1,757.89%	914.67%	1,089.74%	302.63%	-78.13%	621.21%	637.50%
Free Cash Flow to Firm to Interest Expense	11.00	0.00	0.00	0.00	7.03	0.00	0.00	0.00	3.39	7.90	10.75
Operating Cash Flow to Interest Expense	4.15	0.00	0.00	0.00	7.11	0.00	0.00	0.00	-0.52	8.04	4.25
Operating Cash Flow Less CapEx to Interest Expense	3.20	0.00	0.00	0.00	6.70	0.00	0.00	0.00	-1.19	6.75	3.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.55	0.55	0.54	0.53	0.52	0.51	0.48	0.47	0.45	0.44
Accounts Receivable Turnover	6.05	6.14	5.91	5.84	6.40	6.04	5.96	5.76	5.83	5.58	5.75
Inventory Turnover	2.98	3.05	3.03	2.98	3.00	3.12	3.10	2.98	2.97	3.13	3.01
Fixed Asset Turnover	7.22	7.09	7.23	7.09	6.96	6.64	6.70	6.26	5.97	5.72	5.59
Accounts Payable Turnover	5.40	5.51	5.42	5.29	5.21	5.28	5.41	5.07	4.99	5.03	5.19
Days Sales Outstanding (DSO)	60.36	59.49	61.76	62.50	57.00	60.41	61.29	63.35	62.56	65.39	63.51
Days Inventory Outstanding (DIO)	122.56	119.52	120.66	122.53	121.49	117.04	117.60	122.68	122.98	116.70	121.23
Days Payable Outstanding (DPO)	67.63	66.28	67.32	69.05	69.99	69.15	67.46	71.99	73.10	72.50	70.31
Cash Conversion Cycle (CCC)	115.30	112.73	115.10	115.98	108.49	108.30	111.43	114.05	112.44	109.59	114.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,723	13,398	13,898	13,922	13,865	13,973	14,022	14,246	13,881	13,608	13,486
Invested Capital Turnover	0.76	0.76	0.74	0.73	0.72	0.70	0.69	0.64	0.62	0.61	0.60
Increase / (Decrease) in Invested Capital	-142	-575	-124	-324	-16	365	536	587	42	-216	-320
Enterprise Value (EV)	34,338	35,896	35,491	31,287	29,439	26,109	22,629	23,648	21,864	21,453	18,203
Market Capitalization	30,983	32,589	31,843	27,842	26,036	22,623	18,933	19,590	18,068	17,947	14,598
Book Value per Share	$60.69	$58.71	$58.51	$59.40	$59.27	$58.53	$57.65	$56.64	$55.92	$55.55	$54.33
Tangible Book Value per Share	($7.67)	($9.03)	($8.75)	($7.14)	($7.84)	($8.36)	($8.55)	($10.16)	($9.91)	($9.94)	($10.39)
Total Capital	14,421	14,113	14,308	14,517	14,504	14,593	14,414	14,617	14,298	14,149	14,000
Total Debt	4,007	3,980	4,017	3,997	4,000	4,069	4,047	4,390	4,164	4,002	4,075
Total Long-Term Debt	3,503	3,480	3,517	3,494	3,997	3,288	3,288	3,401	3,189	3,751	3,824
Net Debt	3,309	3,265	3,607	3,402	3,361	3,449	3,655	4,019	3,747	3,461	3,561
Capital Expenditures (CapEx)	44	84	53	38	19	75	39	38	32	66	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,134	936	1,183	1,288	1,010	960	1,110	1,108	889	570	608
Debt-free Net Working Capital (DFNWC)	1,832	1,651	1,593	1,883	1,649	1,580	1,502	1,479	1,306	1,111	1,122
Net Working Capital (NWC)	1,328	1,151	1,093	1,380	1,646	799	743	490	331	860	871
Net Nonoperating Expense (NNE)	37	38	42	34	37	22	38	39	32	28	33
Net Nonoperating Obligations (NNO)	3,309	3,265	3,607	3,402	3,361	3,449	3,655	4,019	3,747	3,461	3,561
Total Depreciation and Amortization (D&A)	110	118	123	106	112	145	112	109	111	106	105
Debt-free, Cash-free Net Working Capital to Revenue	10.80%	9.01%	11.45%	12.61%	10.12%	9.92%	11.74%	12.33%	10.30%	6.82%	7.48%
Debt-free Net Working Capital to Revenue	17.45%	15.89%	15.42%	18.43%	16.52%	16.33%	15.88%	16.46%	15.14%	13.29%	13.80%
Net Working Capital to Revenue	12.65%	11.08%	10.58%	13.51%	16.49%	8.26%	7.86%	5.45%	3.84%	10.28%	10.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.88	$1.24	$1.63	$1.64	$1.54	$1.20	$1.34	$1.06	$0.94	$0.87	$0.88
Adjusted Weighted Average Basic Shares Outstanding	170.50M	174.10M	173.40M	175.40M	176.50M	178.80M	178.60M	178.90M	179.90M	182.20M	181.30M
Adjusted Diluted Earnings per Share	$1.88	$1.24	$1.63	$1.64	$1.53	$1.21	$1.33	$1.06	$0.93	$0.87	$0.88
Adjusted Weighted Average Diluted Shares Outstanding	171.30M	174.80M	174.10M	176M	177.20M	179.50M	179.20M	179.40M	180.60M	182.80M	181.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	171.13M	170.85M	171.89M	175.18M	176.38M	177.03M	179.16M	179.13M	179.87M	180.35M	181.87M
Normalized Net Operating Profit after Tax (NOPAT)	364	251	328	325	314	239	280	232	205	187	196
Normalized NOPAT Margin	13.94%	9.70%	12.30%	12.29%	12.59%	9.45%	10.97%	9.66%	9.34%	8.11%	9.42%
Pre Tax Income Margin	16.32%	11.00%	14.19%	14.56%	14.54%	11.08%	12.55%	10.76%	10.62%	9.11%	10.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.26	0.00	0.00	0.00	8.72	0.00	0.00	0.00	5.85	5.12	5.52
NOPAT to Interest Expense	7.91	0.00	0.00	0.00	6.69	0.00	0.00	0.00	4.27	3.67	4.08
EBIT Less CapEx to Interest Expense	9.30	0.00	0.00	0.00	8.32	0.00	0.00	0.00	5.19	3.82	4.85
NOPAT Less CapEx to Interest Expense	6.95	0.00	0.00	0.00	6.28	0.00	0.00	0.00	3.60	2.37	3.42
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.70%	13.68%	13.82%	13.44%	15.61%	16.97%	17.21%	18.90%	17.17%	17.32%	15.70%
Augmented Payout Ratio	105.01%	116.49%	119.42%	65.24%	59.31%	66.55%	59.58%	66.28%	70.63%	91.11%	89.78%

Frequently Asked Questions About Westinghouse Air Brake Technologies' Financials

When does Westinghouse Air Brake Technologies's fiscal year end?

According to the most recent income statement we have on file, Westinghouse Air Brake Technologies' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Westinghouse Air Brake Technologies' net income changed over the last 9 years?

Westinghouse Air Brake Technologies' net income appears to be on an upward trend, with a most recent value of $1.07 billion in 2024, rising from $398.63 million in 2015. The previous period was $825 million in 2023. View Westinghouse Air Brake Technologies' forecast to see where analysts expect Westinghouse Air Brake Technologies to go next.

What is Westinghouse Air Brake Technologies's operating income?

Westinghouse Air Brake Technologies's total operating income in 2024 was $1.61 billion, based on the following breakdown:

Total Gross Profit: $3.37 billion
Total Operating Expenses: $1.76 billion

How has Westinghouse Air Brake Technologies revenue changed over the last 9 years?

Over the last 9 years, Westinghouse Air Brake Technologies' total revenue changed from $3.31 billion in 2015 to $10.39 billion in 2024, a change of 214.0%.

How much debt does Westinghouse Air Brake Technologies have?

Westinghouse Air Brake Technologies' total liabilities were at $8.57 billion at the end of 2024, a 1.2% increase from 2023, and a 460.7% increase since 2015.

How much cash does Westinghouse Air Brake Technologies have?

In the past 9 years, Westinghouse Air Brake Technologies' cash and equivalents has ranged from $226.19 million in 2015 to $715 million in 2024, and is currently $715 million as of their latest financial filing in 2024.

How has Westinghouse Air Brake Technologies' book value per share changed over the last 9 years?

Over the last 9 years, Westinghouse Air Brake Technologies' book value per share changed from 17.62 in 2015 to 58.71 in 2024, a change of 233.2%.

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This page (NYSE:WAB) was last updated on 5/27/2025 by MarketBeat.com Staff

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Westinghouse Air Brake Technologies (WAB) Financials

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Westinghouse Air Brake Technologies (WAB) Financials

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