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Wabtec (WAB) Financials

Wabtec logo
$259.84 -4.06 (-1.54%)
Closing price 03:59 PM Eastern
Extended Trading
$257.78 -2.06 (-0.79%)
As of 04:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Wabtec

Annual Income Statements for Wabtec

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 399 305 262 295 327 414 558 633 815 1,056 1,170
Consolidated Net Income / (Loss)		 399 313 262 292 327 412 565 641 825 1,067 1,183
Net Income / (Loss) Continuing Operations		 399 313 262 292 327 412 565 641 825 1,067 1,183
Total Pre-Tax Income 		585 413 352 368 447 557 737 854 1,092 1,410 1,592
Total Operating Income		 608 457 421 473 663 745 876 1,011 1,266 1,609 1,793
Total Gross Profit		 1,048 924 1,065 1,234 2,278 2,137 2,369 2,540 2,944 3,366 3,806
Total Revenue		 3,308 2,931 3,882 4,364 8,200 7,556 7,822 8,362 9,677 10,387 11,167
Operating Revenue		 3,308 2,931 3,882 4,364 8,200 7,556 7,822 8,362 9,677 10,387 11,167
Total Cost of Revenue		 2,260 2,007 2,816 3,130 5,922 5,419 5,453 5,822 6,733 7,021 7,361
Operating Cost of Revenue		 2,260 2,007 2,816 3,130 5,922 5,419 5,453 5,822 6,733 7,021 7,361
Total Operating Expenses		 440 468 644 761 1,615 1,392 1,493 1,529 1,678 1,757 2,013
Selling, General & Admin Expense		 347 374 513 633 1,167 948 1,030 1,029 1,139 1,248 1,490
Research & Development Expense		 71 71 95 88 210 162 176 209 218 206 223
Amortization Expense		 22 23 37 40 238 282 287 291 321 303 300
Total Other Income / (Expense), net		 -22 -44 -69 -106 -216 -188 -139 -157 -174 -199 -201
Interest Expense		 17 50 78 112 219 199 177 186 218 201 225
Other Income / (Expense), net		 -5.31 6.53 8.90 6.40 3.00 11 38 29 44 2.00 24
Income Tax Expense		 187 99 90 76 120 145 172 213 267 343 409
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 8.52 0.00 -3.20 0.00 -2.00 7.00 8.00 10 11 13
Basic Earnings per Share		 $4.14 $3.37 $2.74 $3.06 $1.91 $2.18 $2.96 $3.46 $4.54 $6.05 $6.84
Weighted Average Basic Shares Outstanding		 96.07M 90.36M 95.50M 96M 170.50M 189.90M 187.70M 182.20M 178.80M 174.10M 170.50M
Diluted Earnings per Share		 $4.10 $3.34 $2.72 $3.05 $1.84 $2.17 $2.96 $3.46 $4.53 $6.04 $6.83
Weighted Average Diluted Shares Outstanding		 97.01M 91.14M 96.10M 96.50M 177.30M 190.40M 188.10M 182.80M 179.50M 174.80M 171.10M
Weighted Average Basic & Diluted Shares Outstanding		 96.30M 90.50M 95.70M 96.40M 383.42M 188.90M 185.29M 180.35M 177.03M 170.85M 170.52M
Cash Dividends to Common per Share		 $0.28 $0.36 $0.44 $0.48 $0.48 $0.48 $0.48 $0.60 $0.68 $0.80 $1.00

Quarterly Income Statements for Wabtec

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 240 215 272 289 283 212 322 336 310 202 362
Consolidated Net Income / (Loss)		 242 217 277 291 286 213 327 339 313 204 363
Net Income / (Loss) Continuing Operations		 242 217 277 291 286 213 327 339 313 204 363
Total Pre-Tax Income 		320 280 363 385 378 284 426 450 425 291 469
Total Operating Income		 370 308 412 430 433 334 474 472 491 356 517
Total Gross Profit		 792 764 815 874 880 797 900 938 1,002 966 1,061
Total Revenue		 2,550 2,526 2,497 2,644 2,663 2,583 2,610 2,706 2,886 2,965 2,950
Operating Revenue		 2,550 2,526 2,497 2,644 2,663 2,583 2,610 2,706 2,886 2,965 2,950
Total Cost of Revenue		 1,758 1,762 1,682 1,770 1,783 1,786 1,710 1,768 1,884 1,999 1,889
Operating Cost of Revenue		 1,758 1,762 1,682 1,770 1,783 1,786 1,710 1,768 1,884 1,999 1,889
Total Operating Expenses		 422 456 403 444 447 463 426 466 511 610 544
Selling, General & Admin Expense		 295 296 281 316 318 333 307 347 375 461 401
Research & Development Expense		 53 61 48 57 50 51 46 50 59 68 56
Amortization Expense		 74 99 74 71 79 79 73 69 77 81 87
Total Other Income / (Expense), net		 -50 -28 -49 -45 -55 -50 -48 -22 -66 -65 -48
Interest Expense		 - - 47 49 52 - 46 46 65 68 71
Other Income / (Expense), net		 10 27 -2.00 4.00 -3.00 3.00 -2.00 24 -1.00 3.00 23
Income Tax Expense		 78 63 86 94 92 71 99 111 112 87 106
Net Income / (Loss) Attributable to Noncontrolling Interest		 2.00 2.00 5.00 2.00 3.00 1.00 5.00 3.00 3.00 2.00 1.00
Basic Earnings per Share		 $1.34 $1.20 $1.54 $1.64 $1.63 $1.24 $1.88 $1.96 $1.81 $1.19 $2.12
Weighted Average Basic Shares Outstanding		 178.60M 178.80M 176.50M 175.40M 173.40M 174.10M 170.50M 170.60M 170.50M 170.50M 170M
Diluted Earnings per Share		 $1.33 $1.21 $1.53 $1.64 $1.63 $1.24 $1.88 $1.96 $1.81 $1.18 $2.12
Weighted Average Diluted Shares Outstanding		 179.20M 179.50M 177.20M 176M 174.10M 174.80M 171.30M 171.20M 171.10M 171.10M 170.70M
Weighted Average Basic & Diluted Shares Outstanding		 179.16M 177.03M 176.38M 175.18M 171.89M 170.85M 171.13M 170.95M 170.96M 170.52M 169.68M
Cash Dividends to Common per Share		 $0.17 - $0.20 $0.20 - - $0.25 $0.25 - - $0.31

Annual Cash Flow Statements for Wabtec

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -200 714 -942 2,109 -1,738 -5.00 -126 68 79 95 74
Net Cash From Operating Activities		 451 451 189 315 1,016 784 1,073 1,038 1,201 1,834 1,759
Net Cash From Continuing Operating Activities		 451 451 189 315 1,016 784 1,073 1,038 1,201 1,834 1,759
Net Income / (Loss) Continuing Operations		 399 313 262 292 327 412 565 641 825 1,067 1,183
Consolidated Net Income / (Loss)		 399 313 262 292 327 412 565 641 825 1,067 1,183
Depreciation Expense		 65 70 103 109 401 473 491 479 531 503 501
Amortization Expense		 - - 0.00 0.00 -82 -88 -50 -53 -54 -44 -44
Non-Cash Adjustments To Reconcile Net Income		 27 21 23 26 66 30 42 44 54 70 120
Changes in Operating Assets and Liabilities, net		 -39 46 -200 -113 304 -43 25 -73 -155 238 -1.00
Net Cash From Investing Activities		 -380 -233 -1,034 -147 -3,178 -155 -540 -235 -492 -343 -2,747
Net Cash From Continuing Investing Activities		 -380 -233 -1,034 -147 -3,178 -155 -540 -235 -492 -343 -2,747
Purchase of Property, Plant & Equipment		 -49 -50 -90 -93 -186 -136 -130 -149 -186 -207 -260
Acquisitions		 -130 -183 -945 -51 -2,996 -40 -435 -89 -308 -168 -2,520
Purchase of Investments		 - - - - - - - - 0.00 0.00 20
Sale of Property, Plant & Equipment		 1.78 0.36 1.30 11 4.00 21 25 3.00 2.00 13 5.00
Divestitures		 - - - - - - - 0.00 0.00 19 8.00
Net Cash From Financing Activities		 -251 523 -97 1,978 461 -619 -653 -708 -633 -1,371 1,031
Net Cash From Continuing Financing Activities		 -251 523 -97 1,978 461 -619 -653 -708 -633 -1,371 1,031
Repayment of Debt		 -613 -1,103 -1,270 -1,456 -3,429 -4,082 -5,546 -6,103 -5,519 -2,319 -3,235
Repurchase of Common Equity		 -388 -212 - 0.00 0.00 -207 -300 -473 -409 -1,097 -223
Payment of Dividends		 -27 -32 -42 -46 -82 -93 -92 -111 -140 -146 -179
Issuance of Debt		 787 1,875 1,217 3,481 3,982 3,878 5,391 6,087 5,563 2,258 4,708
Other Financing Activities, net		 -15 -6.66 -6.80 0.00 -10 -115 -106 -108 -128 -67 -40
Effect of Exchange Rate Changes		 -19 -26 - -37 -37 -15 -6.00 -27 3.00 -25 31

Quarterly Cash Flow Statements for Wabtec

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 21 228 19 -44 -185 305 -17 801 -971 261 -258
Net Cash From Operating Activities		 425 686 334 235 542 723 191 209 367 992 199
Net Cash From Continuing Operating Activities		 425 686 334 235 542 723 191 209 367 992 199
Net Income / (Loss) Continuing Operations		 242 217 277 291 286 213 327 339 313 204 363
Consolidated Net Income / (Loss)		 242 217 277 291 286 213 327 339 313 204 363
Depreciation Expense		 125 160 123 118 134 128 120 117 128 136 139
Amortization Expense		 -13 -15 -11 -12 -11 -10 -10 -12 -14 -8.00 -10
Non-Cash Adjustments To Reconcile Net Income		 15 14 14 14 18 24 17 19 24 60 22
Changes in Operating Assets and Liabilities, net		 56 310 -69 -176 115 368 -263 -254 -84 600 -315
Net Cash From Investing Activities		 -43 -156 -19 -38 -49 -237 -44 -54 -1,789 -860 -1,105
Net Cash From Continuing Investing Activities		 -43 -156 -19 -38 -49 -237 -44 -54 -1,789 -860 -1,105
Purchase of Property, Plant & Equipment		 -39 -77 -31 -46 -46 -84 -44 -39 -55 -122 -46
Acquisitions		 -4.00 -81 - - -13 -155 0.00 - -1,734 -765 -1,062
Other Investing Activities, net		 - - - - - - 0.00 - - - 3.00
Net Cash From Financing Activities		 -353 -310 -289 -234 -686 -162 -172 626 453 124 656
Net Cash From Continuing Financing Activities		 -353 -310 -289 -234 -686 -162 -172 626 453 124 656
Repayment of Debt		 -1,709 -1,217 -1,022 -834 -73 -390 -193 -1,268 -1,166 -608 -678
Repurchase of Common Equity		 - -157 -175 -200 -599 -123 -98 -50 - -75 -242
Payment of Dividends		 -30 -36 -36 -36 -40 -34 -43 -44 -49 -43 -53
Issuance of Debt		 1,387 1,212 967 836 69 386 196 1,993 1,668 851 1,682
Other Financing Activities, net		 -1.00 -112 -23 - -43 -1.00 -34 -5.00 - -1.00 -53
Effect of Exchange Rate Changes		 -8.00 8.00 -7.00 -7.00 8.00 -19 8.00 20 -2.00 5.00 -8.00

Annual Balance Sheets for Wabtec

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 3,230 6,581 6,580 8,649 18,944 18,454 18,454 18,516 18,988 18,702 22,069
Total Current Assets		 1,540 2,868 2,265 4,450 4,192 3,880 3,832 4,327 4,855 4,943 5,694
Cash & Equivalents		 226 398 233 581 604 599 473 541 620 715 789
Accounts Receivable		 599 943 1,167 1,147 1,664 1,412 1,477 1,519 1,684 1,702 1,897
Inventories, net		 479 659 743 845 1,773 1,642 1,689 2,034 2,284 2,314 2,745
Other Current Assets		 236 868 122 116 151 227 193 233 267 212 263
Plant, Property, & Equipment, net		 353 518 574 564 1,656 1,601 1,497 1,429 1,485 1,447 1,616
Total Noncurrent Assets		 1,336 3,195 3,741 3,636 13,096 12,973 13,125 12,760 12,648 12,312 14,759
Goodwill		 859 2,079 2,460 2,397 8,361 8,485 8,587 8,508 8,780 8,710 10,216
Intangible Assets		 441 1,054 1,204 1,130 4,104 3,869 3,705 3,402 3,205 2,934 3,838
Other Noncurrent Operating Assets		 37 62 76 109 632 619 833 850 663 668 705
Total Liabilities & Shareholders' Equity		 3,230 6,581 6,580 8,649 18,944 18,454 18,454 18,516 18,988 18,702 22,069
Total Liabilities		 1,528 3,604 3,751 5,780 8,951 8,301 8,215 8,369 8,464 8,569 10,879
Total Current Liabilities		 665 1,447 1,573 1,647 3,258 3,226 2,910 3,467 4,056 3,792 5,150
Short-Term Debt		 0.43 130 47 64 96 447 2.00 251 781 500 1,250
Accounts Payable		 320 530 553 589 1,158 909 1,012 1,301 1,250 1,300 1,402
Accrued Expenses		 169 385 440 446 1,057 985 932 843 880 874 993
Customer Deposits		 106 257 370 374 604 643 629 772 804 693 1,015
Current Employee Benefit Liabilities		 70 145 164 173 344 242 335 300 341 425 490
Total Noncurrent Liabilities		 863 2,158 2,178 4,134 5,693 5,075 5,305 4,902 4,408 4,777 5,729
Long-Term Debt		 692 1,763 1,823 3,793 4,334 3,792 4,056 3,751 3,288 3,480 4,291
Noncurrent Deferred & Payable Income Tax Liabilities		 73 246 176 198 145 168 288 326 318 376 606
Other Noncurrent Operating Liabilities		 43 38 75 47 1,101 1,001 884 768 740 921 832
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,701 2,977 2,829 2,869 9,994 10,153 10,239 10,147 10,524 10,133 11,190
Total Preferred & Common Equity		 1,700 2,206 2,809 2,865 9,957 10,123 10,201 10,102 10,487 10,091 11,142
Total Common Equity		 1,700 2,206 2,809 2,865 9,957 10,123 10,201 10,102 10,487 10,091 11,142
Common Stock		 471 871 908 916 7,879 7,883 7,918 7,955 7,979 8,025 8,070
Retained Earnings		 2,281 2,553 2,773 3,022 3,267 3,589 4,055 4,577 5,269 6,185 3,878
Treasury Stock		 -775 -839 -827 -816 -807 -1,010 -1,306 -1,769 -2,171 -3,273 -190
Accumulated Other Comprehensive Income / (Loss)		 -277 -380 -45 -257 -383 -339 -466 -661 -590 -846 -616
Noncontrolling Interest		 1.73 771 20 3.90 37 30 38 45 37 42 48

Quarterly Balance Sheets for Wabtec

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 18,985 18,800 18,988 18,747 18,876 18,644 18,702 19,096 20,391 21,527 23,196
Total Current Assets		 4,663 4,634 4,855 4,799 5,027 4,774 4,943 5,255 6,354 5,788 5,973
Cash & Equivalents		 371 392 620 639 595 410 715 698 1,499 528 531
Accounts Receivable		 1,698 1,714 1,684 1,541 1,801 1,782 1,702 1,932 1,999 2,198 2,252
Inventories, net		 2,317 2,246 2,284 2,356 2,364 2,380 2,314 2,378 2,571 2,747 2,850
Other Current Assets		 277 282 267 263 267 202 212 247 285 315 340
Plant, Property, & Equipment, net		 1,443 1,419 1,485 1,445 1,439 1,439 1,447 1,462 1,476 1,534 1,653
Total Noncurrent Assets		 12,879 12,747 12,648 12,503 12,410 12,431 12,312 12,379 12,561 14,205 15,570
Goodwill		 8,657 8,590 8,780 8,730 8,706 8,786 8,710 8,787 8,936 9,853 10,625
Intangible Assets		 3,359 3,267 3,205 3,115 3,031 2,996 2,934 2,892 2,889 3,546 4,239
Other Noncurrent Operating Assets		 863 890 663 658 673 649 668 700 736 806 706
Total Liabilities & Shareholders' Equity		 18,985 18,800 18,988 18,747 18,876 18,644 18,702 19,096 20,391 21,527 23,196
Total Liabilities		 8,758 8,433 8,464 8,243 8,356 8,353 8,569 8,682 9,546 10,432 12,045
Total Current Liabilities		 4,173 3,891 4,056 3,153 3,647 3,681 3,792 3,927 3,606 4,064 5,835
Short-Term Debt		 989 759 781 3.00 503 500 500 504 0.00 251 1,830
Accounts Payable		 1,307 1,243 1,250 1,288 1,331 1,338 1,300 1,324 1,407 1,429 1,423
Accrued Expenses		 897 902 880 873 887 896 874 884 938 1,020 1,061
Customer Deposits		 731 679 804 645 646 567 693 796 936 940 1,006
Current Employee Benefit Liabilities		 249 308 341 344 280 380 425 419 325 424 515
Total Noncurrent Liabilities		 4,585 4,542 4,408 5,090 4,709 4,672 4,777 4,755 5,940 6,368 6,210
Long-Term Debt		 3,401 3,288 3,288 3,997 3,494 3,517 3,480 3,503 4,784 5,034 4,708
Noncurrent Deferred & Payable Income Tax Liabilities		 359 355 318 321 323 295 376 390 411 553 729
Other Noncurrent Operating Liabilities		 761 836 740 710 831 798 863 802 681 717 773
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		 10,227 10,367 10,524 10,504 10,520 10,291 10,133 10,414 10,845 11,095 11,151
Total Preferred & Common Equity		 10,188 10,326 10,487 10,462 10,477 10,250 10,091 10,368 10,801 11,048 11,103
Total Common Equity		 10,188 10,326 10,487 10,462 10,477 10,250 10,091 10,368 10,801 11,048 11,103
Common Stock		 7,951 7,967 7,979 7,969 7,983 8,001 8,025 8,010 8,026 8,048 8,021
Retained Earnings		 4,875 5,085 5,269 5,505 5,759 6,007 6,185 3,160 3,452 3,719 4,187
Treasury Stock		 -2,014 -2,013 -2,171 -2,345 -2,545 -3,151 -3,273 -69 -116 -115 -416
Accumulated Other Comprehensive Income / (Loss)		 -624 -713 -590 -667 -720 -607 -846 -733 -561 -604 -689
Noncontrolling Interest		 39 41 37 42 43 41 42 46 44 47 48

Annual Metrics And Ratios for Wabtec

This table displays calculated financial ratios and metrics derived from Wabtec's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.66% -11.39% 32.43% 12.41% 87.92% -7.85% 3.52% 6.90% 15.73% 7.34% 7.51%
EBITDA Growth		 13.69% -20.10% 0.05% 10.48% 67.20% 15.84% 18.76% 8.19% 21.90% 15.84% 9.86%
EBIT Growth		 14.62% -23.10% -7.15% 11.58% 38.81% 13.51% 20.90% 13.79% 25.96% 22.98% 12.79%
NOPAT Growth		 13.35% -16.22% -9.50% 19.75% 29.11% 13.62% 21.87% 13.00% 26.04% 27.30% 9.43%
Net Income Growth		 13.35% -21.38% -16.31% 11.21% 12.10% 25.99% 37.14% 13.45% 28.71% 29.33% 10.87%
EPS Growth		 13.26% -18.54% -18.56% 12.13% -39.67% 17.93% 36.41% 16.89% 30.92% 33.33% 13.08%
Operating Cash Flow Growth		 -4.56% -0.07% -58.09% 66.68% 222.85% -22.83% 36.86% -3.26% 15.70% 52.71% -4.09%
Free Cash Flow Firm Growth		 -29.74% -1,404.70% 116.31% 43.38% -2,055.79% 106.44% 11.06% 52.19% -39.33% 203.08% -167.59%
Invested Capital Growth		 13.85% 106.29% -0.12% -1.84% 215.23% -0.19% 0.22% -1.56% 2.68% -4.12% 18.99%
Revenue Q/Q Growth		 0.36% -2.43% 8.85% 0.98% -10.73% 33.39% 0.64% 2.87% 2.33% 0.55% 3.54%
EBITDA Q/Q Growth		 1.40% -13.37% 6.71% -0.21% 21.25% -2.26% 9.68% -1.28% 6.75% -1.19% 1.43%
EBIT Q/Q Growth		 1.51% -15.68% 6.89% -0.27% 26.46% -8.07% 13.71% -1.52% 5.99% 0.12% 1.23%
NOPAT Q/Q Growth		 1.53% -9.05% -3.71% 0.00% 34.43% -9.77% 17.41% -3.87% 5.76% 0.98% 0.04%
Net Income Q/Q Growth		 2.33% -15.03% 1.30% -4.84% 45.87% -11.05% 23.23% -5.04% 7.56% -0.37% -0.76%
EPS Q/Q Growth		 1.49% -16.08% 3.42% -4.69% 38.35% -15.56% 23.33% -4.16% 8.11% 0.50% -0.87%
Operating Cash Flow Q/Q Growth		 -40.20% 1.83% -17.97% 57.12% 20.32% -13.50% -1.10% 10.19% 29.84% 2.06% 18.05%
Free Cash Flow Firm Q/Q Growth		 -46.12% -732.70% 118.17% 288.50% -0.72% -23.12% 24.62% -12.11% 60.57% 34.80% -94.76%
Invested Capital Q/Q Growth		 -2.73% 94.40% 1.90% -5.53% -0.49% 0.33% 0.13% 0.90% -0.35% -3.60% 0.57%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 31.68% 31.53% 27.44% 28.28% 27.78% 28.28% 30.29% 30.38% 30.42% 32.41% 34.08%
EBITDA Margin		 20.16% 18.18% 13.74% 13.50% 12.01% 15.10% 17.32% 17.53% 18.47% 19.93% 20.36%
Operating Margin		 18.37% 15.58% 10.85% 10.85% 8.09% 9.86% 11.20% 12.09% 13.08% 15.49% 16.06%
EBIT Margin		 18.21% 15.80% 11.08% 11.00% 8.12% 10.01% 11.69% 12.44% 13.54% 15.51% 16.27%
Profit (Net Income) Margin		 12.05% 10.69% 6.76% 6.69% 3.99% 5.45% 7.22% 7.67% 8.53% 10.27% 10.59%
Tax Burden Percent		 68.10% 75.91% 74.50% 79.35% 73.15% 73.97% 76.66% 75.06% 75.55% 75.67% 74.31%
Interest Burden Percent		 97.20% 89.14% 81.88% 76.62% 67.12% 73.68% 80.63% 82.12% 83.36% 87.52% 87.62%
Effective Tax Rate		 31.90% 24.09% 25.50% 20.65% 26.85% 26.03% 23.34% 24.94% 24.45% 24.33% 25.69%
Return on Invested Capital (ROIC)		 20.33% 10.44% 7.02% 8.49% 5.33% 3.99% 4.86% 5.53% 6.94% 8.90% 9.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.94% 7.05% 3.74% 3.16% -0.59% 0.27% 1.91% 2.19% 3.13% 4.41% 5.36%
Return on Net Nonoperating Assets (RNNOA)		 2.39% 2.96% 2.02% 1.75% -0.24% 0.10% 0.68% 0.76% 1.05% 1.43% 2.01%
Return on Equity (ROE)		 22.72% 13.40% 9.04% 10.24% 5.08% 4.09% 5.54% 6.29% 7.98% 10.33% 11.10%
Cash Return on Invested Capital (CROIC)		 7.37% -58.96% 7.14% 10.34% -98.34% 4.18% 4.64% 7.11% 4.29% 13.10% -8.26%
Operating Return on Assets (OROA)		 18.44% 9.44% 6.53% 6.30% 4.83% 4.04% 4.95% 5.63% 6.99% 8.55% 8.91%
Return on Assets (ROA)		 12.20% 6.39% 3.99% 3.83% 2.37% 2.20% 3.06% 3.47% 4.40% 5.66% 5.80%
Return on Common Equity (ROCE)		 22.70% 11.19% 7.81% 10.20% 5.07% 4.08% 5.52% 6.26% 7.95% 10.29% 11.05%
Return on Equity Simple (ROE_SIMPLE)		 23.45% 14.21% 9.34% 10.18% 3.28% 4.07% 5.54% 6.35% 7.87% 10.57% 0.00%
Net Operating Profit after Tax (NOPAT)		 414 347 314 376 485 551 672 759 956 1,218 1,332
NOPAT Margin		 12.51% 11.83% 8.08% 8.61% 5.91% 7.29% 8.59% 9.07% 9.88% 11.72% 11.93%
Net Nonoperating Expense Percent (NNEP)		 5.39% 3.39% 3.28% 5.33% 5.92% 3.73% 2.95% 3.34% 3.80% 4.49% 3.73%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 5.36% 6.55% 8.63% 7.96%
Cost of Revenue to Revenue		 68.32% 68.47% 72.56% 71.72% 72.22% 71.72% 69.71% 69.62% 69.58% 67.59% 65.92%
SG&A Expenses to Revenue		 10.50% 12.74% 13.20% 14.51% 14.23% 12.55% 13.17% 12.31% 11.77% 12.02% 13.34%
R&D to Revenue		 2.15% 2.44% 2.45% 2.01% 2.56% 2.14% 2.25% 2.50% 2.25% 1.98% 2.00%
Operating Expenses to Revenue		 13.31% 15.95% 16.60% 17.43% 19.70% 18.42% 19.09% 18.29% 17.34% 16.92% 18.03%
Earnings before Interest and Taxes (EBIT)		 602 463 430 480 666 756 914 1,040 1,310 1,611 1,817
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 667 533 533 589 985 1,141 1,355 1,466 1,787 2,070 2,274
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.83 3.19 2.67 2.28 1.45 1.34 1.66 1.78 2.16 3.23 3.28
Price to Tangible Book Value (P/TBV)		 16.24 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)		 1.97 2.40 1.93 1.50 1.76 1.80 2.16 2.15 2.34 3.14 3.27
Price to Earnings (P/E)		 16.31 23.10 28.55 22.17 44.21 32.86 30.28 28.35 27.76 30.86 31.19
Dividend Yield		 0.42% 0.46% 0.56% 0.71% 0.64% 0.67% 0.53% 0.76% 0.54% 0.42% 0.47%
Earnings Yield		 6.13% 4.33% 3.50% 4.51% 2.26% 3.04% 3.30% 3.53% 3.60% 3.24% 3.21%
Enterprise Value to Invested Capital (EV/IC)		 3.22 2.08 2.05 1.84 1.33 1.25 1.48 1.58 1.87 2.68 2.59
Enterprise Value to Revenue (EV/Rev)		 2.11 3.18 2.36 1.85 2.23 2.29 2.62 2.57 2.70 3.46 3.70
Enterprise Value to EBITDA (EV/EBITDA)		 10.45 17.47 17.15 13.67 18.60 15.14 15.14 14.63 14.61 17.34 18.16
Enterprise Value to EBIT (EV/EBIT)		 11.57 20.10 21.27 16.79 27.50 22.85 22.45 20.63 19.93 22.28 22.72
Enterprise Value to NOPAT (EV/NOPAT)		 16.85 26.86 29.15 21.44 37.77 31.35 30.55 28.27 27.30 29.48 30.99
Enterprise Value to Operating Cash Flow (EV/OCF)		 15.46 20.66 48.44 25.60 18.03 22.03 19.12 20.67 21.74 19.57 23.47
Enterprise Value to Free Cash Flow (EV/FCFF)		 46.47 0.00 28.65 17.60 0.00 29.95 32.03 22.01 44.14 20.02 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.41 0.64 0.66 1.34 0.44 0.42 0.40 0.39 0.39 0.39 0.50
Long-Term Debt to Equity		 0.41 0.59 0.64 1.32 0.43 0.37 0.40 0.37 0.31 0.34 0.38
Financial Leverage		 0.16 0.42 0.54 0.55 0.42 0.37 0.35 0.35 0.33 0.33 0.38
Leverage Ratio		 1.86 2.10 2.27 2.67 2.15 1.86 1.81 1.81 1.81 1.82 1.91
Compound Leverage Factor		 1.81 1.87 1.86 2.05 1.44 1.37 1.46 1.49 1.51 1.60 1.68
Debt to Total Capital		 28.92% 38.87% 39.81% 57.34% 30.71% 29.45% 28.38% 28.28% 27.88% 28.20% 33.12%
Short-Term Debt to Total Capital		 0.02% 2.67% 1.01% 0.95% 0.66% 3.11% 0.01% 1.77% 5.35% 3.54% 7.47%
Long-Term Debt to Total Capital		 28.90% 36.20% 38.80% 56.39% 30.05% 26.35% 28.37% 26.51% 22.53% 24.66% 25.65%
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		 0.07% 15.83% 0.42% 0.06% 0.26% 0.21% 0.27% 0.32% 0.25% 0.30% 0.29%
Common Equity to Total Capital		 71.01% 45.30% 59.78% 42.60% 69.03% 70.34% 71.35% 71.40% 71.86% 71.50% 66.59%
Debt to EBITDA		 1.04 3.55 3.51 6.55 4.50 3.72 2.99 2.73 2.28 1.92 2.44
Net Debt to EBITDA		 0.70 2.80 3.07 2.57 3.88 3.19 2.65 2.36 1.93 1.58 2.09
Long-Term Debt to EBITDA		 1.04 3.31 3.42 6.44 4.40 3.32 2.99 2.56 1.84 1.68 1.89
Debt to NOPAT		 1.67 5.46 5.96 10.27 9.13 7.69 6.04 5.27 4.25 3.27 4.16
Net Debt to NOPAT		 1.13 4.31 5.22 4.03 7.89 6.61 5.34 4.56 3.61 2.68 3.57
Long-Term Debt to NOPAT		 1.67 5.09 5.81 10.10 8.94 6.88 6.04 4.94 3.44 2.86 3.22
Altman Z-Score		 5.51 2.65 2.72 2.24 1.82 1.84 2.19 2.33 2.78 3.66 3.07
Noncontrolling Interest Sharing Ratio		 0.08% 16.51% 13.62% 0.41% 0.32% 0.33% 0.33% 0.41% 0.40% 0.38% 0.42%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.32 1.98 1.44 2.70 1.29 1.20 1.32 1.25 1.20 1.30 1.11
Quick Ratio		 1.24 0.93 0.89 1.05 0.70 0.62 0.67 0.59 0.57 0.64 0.52
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 150 -1,957 319 458 -8,950 577 641 975 591 1,793 -1,212
Operating Cash Flow to CapEx		 946.28% 903.72% 214.06% 383.78% 558.24% 681.74% 1,021.90% 710.96% 652.72% 945.36% 689.80%
Free Cash Flow to Firm to Interest Expense		 8.88 -38.91 4.10 4.08 -40.87 2.90 3.62 5.24 2.71 8.92 -5.39
Operating Cash Flow to Interest Expense		 26.70 8.96 2.42 2.80 4.64 3.94 6.06 5.58 5.51 9.12 7.82
Operating Cash Flow Less CapEx to Interest Expense		 23.87 7.97 1.29 2.07 3.81 3.36 5.47 4.80 4.67 8.16 6.68
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.01 0.60 0.59 0.57 0.59 0.40 0.42 0.45 0.52 0.55 0.55
Accounts Receivable Turnover		 5.38 3.80 3.68 3.77 5.83 4.91 5.42 5.58 6.04 6.14 6.21
Inventory Turnover		 4.57 3.53 4.02 3.94 4.52 3.17 3.27 3.13 3.12 3.05 2.91
Fixed Asset Turnover		 9.56 6.73 7.11 7.67 7.39 4.64 5.05 5.72 6.64 7.09 7.29
Accounts Payable Turnover		 6.28 4.72 5.20 5.48 6.78 5.24 5.68 5.03 5.28 5.51 5.45
Days Sales Outstanding (DSO)		 67.86 95.96 99.17 96.76 62.56 74.29 67.41 65.39 60.41 59.49 58.82
Days Inventory Outstanding (DIO)		 79.90 103.40 90.79 92.58 80.68 115.01 111.48 116.70 117.04 119.52 125.43
Days Payable Outstanding (DPO)		 58.09 77.27 70.16 66.59 53.83 69.60 64.29 72.50 69.15 66.28 66.99
Cash Conversion Cycle (CCC)		 89.67 122.09 119.80 122.75 89.40 119.71 114.59 109.59 108.30 112.73 117.25
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,167 4,471 4,466 4,384 13,819 13,793 13,824 13,608 13,973 13,398 15,942
Invested Capital Turnover		 1.63 0.88 0.87 0.99 0.90 0.55 0.57 0.61 0.70 0.76 0.76
Increase / (Decrease) in Invested Capital		 264 2,304 -5.46 -82 9,435 -26 31 -216 365 -575 2,544
Enterprise Value (EV)		 6,971 9,309 9,145 8,056 18,318 17,273 20,518 21,453 26,109 35,896 41,291
Market Capitalization		 6,503 7,044 7,488 6,537 14,456 13,603 16,895 17,947 22,623 32,589 36,491
Book Value per Share		 $17.62 $24.77 $29.26 $29.66 $51.94 $53.19 $54.60 $55.55 $58.53 $58.71 $65.17
Tangible Book Value per Share		 $4.15 ($10.40) ($8.91) ($6.84) ($13.08) ($11.72) ($11.19) ($9.94) ($8.36) ($9.03) ($17.03)
Total Capital		 2,394 4,870 4,699 6,726 14,423 14,392 14,297 14,149 14,593 14,113 16,731
Total Debt		 692 1,893 1,871 3,857 4,429 4,239 4,058 4,002 4,069 3,980 5,541
Total Long-Term Debt		 692 1,763 1,823 3,793 4,334 3,792 4,056 3,751 3,288 3,480 4,291
Net Debt		 466 1,494 1,637 1,515 3,825 3,640 3,585 3,461 3,449 3,265 4,752
Capital Expenditures (CapEx)		 48 50 88 82 182 115 105 146 184 194 255
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 649 1,152 506 525 426 502 451 570 960 936 1,005
Debt-free Net Working Capital (DFNWC)		 876 1,551 739 2,867 1,030 1,101 924 1,111 1,580 1,651 1,794
Net Working Capital (NWC)		 875 1,421 692 2,803 934 654 922 860 799 1,151 544
Net Nonoperating Expense (NNE)		 15 33 51 84 158 139 107 118 131 151 149
Net Nonoperating Obligations (NNO)		 466 1,494 1,637 1,515 3,825 3,640 3,585 3,461 3,449 3,265 4,752
Total Depreciation and Amortization (D&A)		 65 70 103 109 319 385 441 426 477 459 457
Debt-free, Cash-free Net Working Capital to Revenue		 19.63% 39.31% 13.03% 12.03% 5.19% 6.64% 5.77% 6.82% 9.92% 9.01% 9.00%
Debt-free Net Working Capital to Revenue		 26.47% 52.91% 19.04% 65.71% 12.56% 14.57% 11.81% 13.29% 16.33% 15.89% 16.07%
Net Working Capital to Revenue		 26.46% 48.48% 17.82% 64.24% 11.39% 8.66% 11.79% 10.28% 8.26% 11.08% 4.87%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.14 $3.37 $2.74 $3.06 $1.91 $2.18 $2.96 $3.46 $4.54 $6.05 $6.84
Adjusted Weighted Average Basic Shares Outstanding		 96.07M 90.36M 95.45M 95.99M 170.50M 189.90M 187.70M 182.20M 178.80M 174.10M 170.50M
Adjusted Diluted Earnings per Share		 $4.10 $3.34 $2.72 $3.05 $1.84 $2.17 $2.96 $3.46 $4.53 $6.04 $6.83
Adjusted Weighted Average Diluted Shares Outstanding		 97.01M 91.14M 96.13M 96.46M 177.30M 190.40M 188.10M 182.80M 179.50M 174.80M 171.10M
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		 91.93M 95.79M 96.09M 96.61M 383.42M 188.90M 185.29M 180.35M 177.03M 170.85M 170.52M
Normalized Net Operating Profit after Tax (NOPAT)		 414 347 314 376 485 551 672 759 956 1,218 1,332
Normalized NOPAT Margin		 12.51% 11.83% 8.08% 8.61% 5.91% 7.29% 8.59% 9.07% 9.88% 11.72% 11.93%
Pre Tax Income Margin		 17.70% 14.08% 9.07% 8.42% 5.45% 7.37% 9.42% 10.21% 11.28% 13.57% 14.26%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 35.66 9.21 5.52 4.28 3.04 3.80 5.16 5.59 6.01 8.01 8.08
NOPAT to Interest Expense		 24.50 6.89 4.03 3.35 2.21 2.77 3.79 4.08 4.39 6.06 5.92
EBIT Less CapEx to Interest Expense		 32.84 8.22 4.39 3.55 2.21 3.22 4.57 4.81 5.17 7.05 6.94
NOPAT Less CapEx to Interest Expense		 21.68 5.90 2.89 2.62 1.38 2.19 3.20 3.29 3.54 5.09 4.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 6.76% 10.35% 16.09% 15.87% 25.08% 22.57% 16.28% 17.32% 16.97% 13.68% 15.13%
Augmented Payout Ratio		 104.04% 78.05% 16.09% 15.87% 25.08% 72.82% 69.38% 91.11% 66.55% 116.49% 33.98%

Quarterly Metrics And Ratios for Wabtec

This table displays calculated financial ratios and metrics derived from Wabtec's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 170,517,190.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 170,517,190.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.12
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 22.54% 9.54% 13.81% 9.85% 4.43% 2.26% 4.53% 2.34% 8.37% 14.79% 13.03%
EBITDA Growth		 32.97% 30.79% 33.16% 27.66% 12.40% -5.21% 11.49% 11.30% 9.22% 7.03% 14.95%
EBIT Growth		 43.40% 28.35% 45.91% 38.22% 13.16% 0.60% 15.12% 14.29% 13.95% 6.53% 14.41%
NOPAT Growth		 42.72% 27.64% 53.42% 39.79% 17.08% 4.94% 15.73% 9.40% 10.38% -0.37% 9.98%
Net Income Growth		 48.47% 36.48% 60.12% 50.78% 18.18% -1.84% 18.05% 16.49% 9.44% -4.23% 11.01%
EPS Growth		 51.14% 39.08% 64.52% 54.72% 22.56% 2.48% 22.88% 19.51% 11.04% -4.84% 12.77%
Operating Cash Flow Growth		 108.33% 67.32% 1,436.00% 104.35% 27.53% 5.39% -42.81% -11.06% -32.29% 37.21% 4.19%
Free Cash Flow Firm Growth		 -149.66% -131.34% 102.78% 283.08% 276.28% 753.60% 53.10% -77.26% -452.60% -377.94% -699.96%
Invested Capital Growth		 3.97% 2.68% -0.12% -2.27% -0.88% -4.12% -1.02% 1.49% 14.06% 18.99% 25.03%
Revenue Q/Q Growth		 5.94% -0.94% -1.15% 5.89% 0.72% -3.00% 1.05% 3.68% 6.65% 2.74% -0.51%
EBITDA Q/Q Growth		 16.31% -2.44% 8.75% 3.45% 2.41% -17.72% 27.91% 3.26% 0.50% -19.37% 37.37%
EBIT Q/Q Growth		 21.02% -11.84% 22.39% 5.85% -0.92% -21.63% 40.06% 5.08% -1.21% -26.73% 50.42%
NOPAT Q/Q Growth		 20.35% -14.69% 31.71% 3.38% 0.80% -23.54% 45.25% -2.27% 1.70% -30.98% 60.34%
Net Income Q/Q Growth		 25.39% -10.33% 27.65% 5.05% -1.72% -25.52% 53.52% 3.67% -7.67% -34.82% 77.94%
EPS Q/Q Growth		 25.47% -9.02% 26.45% 7.19% -0.61% -23.93% 51.61% 4.26% -7.65% -34.81% 79.66%
Operating Cash Flow Q/Q Growth		 269.57% 61.41% -51.31% -29.64% 130.64% 33.39% -73.58% 9.42% 75.60% 170.30% -79.94%
Free Cash Flow Firm Q/Q Growth		 27.73% 50.70% 361.59% 96.44% -30.42% 82.79% -38.72% -70.83% -1,179.05% -44.09% -32.27%
Invested Capital Q/Q Growth		 -1.57% -0.35% -0.77% 0.41% -0.17% -3.60% 2.43% 2.97% 12.19% 0.57% 7.63%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 31.06% 30.25% 32.64% 33.06% 33.05% 30.86% 34.48% 34.66% 34.72% 32.58% 35.97%
EBITDA Margin		 19.29% 19.00% 20.91% 20.42% 20.77% 17.62% 22.30% 22.21% 20.93% 16.43% 22.68%
Operating Margin		 14.51% 12.19% 16.50% 16.26% 16.26% 12.93% 18.16% 17.44% 17.01% 12.01% 17.53%
EBIT Margin		 14.90% 13.26% 16.42% 16.41% 16.15% 13.05% 18.08% 18.33% 16.98% 12.11% 18.31%
Profit (Net Income) Margin		 9.49% 8.59% 11.09% 11.01% 10.74% 8.25% 12.53% 12.53% 10.85% 6.88% 12.31%
Tax Burden Percent		 75.63% 77.50% 76.31% 75.58% 75.66% 75.00% 76.76% 75.33% 73.65% 70.10% 77.40%
Interest Burden Percent		 84.21% 83.58% 88.54% 88.71% 87.91% 84.27% 90.25% 90.73% 86.73% 81.06% 86.85%
Effective Tax Rate		 24.38% 22.50% 23.69% 24.42% 24.34% 25.00% 23.24% 24.67% 26.35% 29.90% 22.60%
Return on Invested Capital (ROIC)		 7.54% 6.63% 9.06% 8.92% 9.10% 7.36% 10.61% 9.90% 9.08% 6.41% 10.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.50% 6.00% 8.01% 8.00% 7.96% 6.24% 9.51% 9.40% 7.92% 5.27% 9.31%
Return on Net Nonoperating Assets (RNNOA)		 2.31% 2.01% 2.76% 2.86% 2.80% 2.03% 3.03% 2.94% 3.10% 1.98% 4.02%
Return on Equity (ROE)		 9.86% 8.64% 11.81% 11.78% 11.90% 9.39% 13.64% 12.84% 12.18% 8.39% 14.13%
Cash Return on Invested Capital (CROIC)		 2.68% 4.29% 7.80% 10.52% 9.53% 13.10% 10.22% 7.77% -4.18% -8.26% -13.38%
Operating Return on Assets (OROA)		 7.61% 6.84% 8.76% 8.86% 8.91% 7.19% 10.04% 9.86% 9.12% 6.63% 9.96%
Return on Assets (ROA)		 4.84% 4.43% 5.92% 5.94% 5.93% 4.55% 6.95% 6.74% 5.82% 3.77% 6.70%
Return on Common Equity (ROCE)		 9.81% 8.60% 11.76% 11.73% 11.85% 9.35% 13.59% 12.78% 12.13% 8.35% 14.07%
Return on Equity Simple (ROE_SIMPLE)		 7.43% 0.00% 8.88% 9.80% 10.45% 0.00% 10.77% 10.79% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 280 239 314 325 328 251 364 356 362 250 400
NOPAT Margin		 10.97% 9.45% 12.59% 12.29% 12.30% 9.70% 13.94% 13.14% 12.53% 8.42% 13.56%
Net Nonoperating Expense Percent (NNEP)		 1.05% 0.63% 1.05% 0.92% 1.15% 1.12% 1.10% 0.50% 1.16% 1.14% 0.80%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.64% - - - 1.78% 2.52% 2.28% 2.21% 1.49% 2.26%
Cost of Revenue to Revenue		 68.94% 69.75% 67.36% 66.94% 66.95% 69.14% 65.52% 65.34% 65.28% 67.42% 64.03%
SG&A Expenses to Revenue		 11.57% 11.72% 11.25% 11.95% 11.94% 12.89% 11.76% 12.82% 12.99% 15.55% 13.59%
R&D to Revenue		 2.08% 2.41% 1.92% 2.16% 1.88% 1.97% 1.76% 1.85% 2.04% 2.29% 1.90%
Operating Expenses to Revenue		 16.55% 18.05% 16.14% 16.79% 16.79% 17.92% 16.32% 17.22% 17.71% 20.57% 18.44%
Earnings before Interest and Taxes (EBIT)		 380 335 410 434 430 337 472 496 490 359 540
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 492 480 522 540 553 455 582 601 604 487 669
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.83 2.16 2.49 2.66 3.11 3.23 2.99 3.32 3.10 3.28 3.84
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)		 2.00 2.34 2.61 2.73 3.08 3.14 2.95 3.39 3.18 3.27 3.70
Price to Earnings (P/E)		 24.98 27.76 28.36 27.40 30.07 30.86 28.01 31.07 29.04 31.19 35.22
Dividend Yield		 0.77% 0.54% 0.49% 0.47% 0.42% 0.42% 0.47% 0.43% 0.47% 0.47% 0.42%
Earnings Yield		 4.00% 3.60% 3.53% 3.65% 3.33% 3.24% 3.57% 3.22% 3.44% 3.21% 2.84%
Enterprise Value to Invested Capital (EV/IC)		 1.61 1.87 2.12 2.25 2.55 2.68 2.50 2.77 2.47 2.59 2.84
Enterprise Value to Revenue (EV/Rev)		 2.39 2.70 2.95 3.06 3.44 3.46 3.27 3.71 3.62 3.70 4.23
Enterprise Value to EBITDA (EV/EBITDA)		 13.52 14.61 15.36 15.38 16.94 17.34 16.12 17.87 17.43 18.16 20.61
Enterprise Value to EBIT (EV/EBIT)		 18.31 19.93 20.46 20.07 22.06 22.28 20.53 22.57 21.77 22.72 25.82
Enterprise Value to NOPAT (EV/NOPAT)		 25.02 27.30 27.62 27.02 29.43 29.48 27.10 30.18 29.34 30.99 35.55
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.46 21.74 18.87 18.62 19.75 19.57 20.31 23.52 26.22 23.47 27.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 61.44 44.14 27.21 21.11 26.69 20.02 24.37 35.94 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.39 0.39 0.38 0.38 0.39 0.39 0.38 0.44 0.48 0.50 0.59
Long-Term Debt to Equity		 0.32 0.31 0.38 0.33 0.34 0.34 0.34 0.44 0.45 0.38 0.42
Financial Leverage		 0.36 0.33 0.34 0.36 0.35 0.33 0.32 0.31 0.39 0.38 0.43
Leverage Ratio		 1.83 1.81 1.81 1.82 1.81 1.82 1.81 1.84 1.88 1.91 1.96
Compound Leverage Factor		 1.54 1.52 1.61 1.62 1.59 1.54 1.63 1.67 1.63 1.55 1.70
Debt to Total Capital		 28.08% 27.88% 27.58% 27.53% 28.08% 28.20% 27.79% 30.61% 32.27% 33.12% 36.96%
Short-Term Debt to Total Capital		 5.27% 5.35% 0.02% 3.46% 3.49% 3.54% 3.49% 0.00% 1.53% 7.47% 10.35%
Long-Term Debt to Total Capital		 22.81% 22.53% 27.56% 24.07% 24.58% 24.66% 24.29% 30.61% 30.73% 25.65% 26.62%
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		 0.28% 0.25% 0.29% 0.30% 0.29% 0.30% 0.32% 0.28% 0.29% 0.29% 0.27%
Common Equity to Total Capital		 71.64% 71.86% 72.13% 72.17% 71.64% 71.50% 71.90% 69.11% 67.45% 66.59% 62.77%
Debt to EBITDA		 2.42 2.28 2.09 1.97 1.92 1.92 1.88 2.18 2.36 2.44 2.77
Net Debt to EBITDA		 2.18 1.93 1.75 1.67 1.72 1.58 1.55 1.50 2.12 2.09 2.54
Long-Term Debt to EBITDA		 1.96 1.84 2.09 1.72 1.68 1.68 1.64 2.18 2.25 1.89 1.99
Debt to NOPAT		 4.48 4.25 3.75 3.45 3.33 3.27 3.16 3.69 3.97 4.16 4.78
Net Debt to NOPAT		 4.04 3.61 3.15 2.94 2.99 2.68 2.61 2.53 3.57 3.57 4.39
Long-Term Debt to NOPAT		 3.64 3.44 3.75 3.02 2.92 2.86 2.76 3.69 3.78 3.22 3.44
Altman Z-Score		 2.34 2.61 3.02 3.13 3.44 3.43 3.09 3.25 2.89 2.85 2.96
Noncontrolling Interest Sharing Ratio		 0.42% 0.40% 0.44% 0.40% 0.40% 0.38% 0.42% 0.41% 0.41% 0.42% 0.44%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.19 1.20 1.52 1.38 1.30 1.30 1.34 1.76 1.42 1.11 1.02
Quick Ratio		 0.54 0.57 0.69 0.66 0.60 0.64 0.67 0.97 0.67 0.52 0.48
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -256 -126 330 649 452 826 506 148 -1,592 -2,294 -3,035
Operating Cash Flow to CapEx		 1,089.74% 914.67% 1,757.89% 618.42% 1,022.64% 860.71% 434.09% 633.33% 632.76% 826.67% 432.61%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 7.03 0.00 0.00 0.00 11.00 3.21 -24.50 -33.74 -42.74
Operating Cash Flow to Interest Expense		 0.00 0.00 7.11 0.00 0.00 0.00 4.15 4.54 5.65 14.59 2.80
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 6.70 0.00 0.00 0.00 3.20 3.83 4.75 12.82 2.15
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.51 0.52 0.53 0.54 0.55 0.55 0.55 0.54 0.54 0.55 0.54
Accounts Receivable Turnover		 5.96 6.04 6.40 5.84 5.91 6.14 6.05 5.56 5.42 6.21 5.50
Inventory Turnover		 3.10 3.12 3.00 2.98 3.03 3.05 2.98 2.86 2.79 2.91 2.88
Fixed Asset Turnover		 6.70 6.64 6.96 7.09 7.23 7.09 7.22 7.25 7.26 7.29 7.39
Accounts Payable Turnover		 5.41 5.28 5.21 5.29 5.42 5.51 5.40 5.15 5.17 5.45 5.49
Days Sales Outstanding (DSO)		 61.29 60.41 57.00 62.50 61.76 59.49 60.36 65.66 67.35 58.82 66.36
Days Inventory Outstanding (DIO)		 117.60 117.04 121.49 122.53 120.66 119.52 122.56 127.80 130.90 125.43 126.54
Days Payable Outstanding (DPO)		 67.46 69.15 69.99 69.05 67.32 66.28 67.63 70.91 70.65 66.99 66.49
Cash Conversion Cycle (CCC)		 111.43 108.30 108.49 115.98 115.10 112.73 115.30 122.56 127.60 117.25 126.41
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 14,022 13,973 13,865 13,922 13,898 13,398 13,723 14,130 15,852 15,942 17,158
Invested Capital Turnover		 0.69 0.70 0.72 0.73 0.74 0.76 0.76 0.75 0.73 0.76 0.75
Increase / (Decrease) in Invested Capital		 536 365 -16 -324 -124 -575 -142 208 1,954 2,544 3,435
Enterprise Value (EV)		 22,629 26,109 29,439 31,287 35,491 35,896 34,338 39,154 39,075 41,291 48,669
Market Capitalization		 18,933 22,623 26,036 27,842 31,843 32,589 30,983 35,825 34,271 36,491 42,614
Book Value per Share		 $57.65 $58.53 $59.27 $59.40 $58.51 $58.71 $60.69 $63.12 $64.63 $65.17 $65.11
Tangible Book Value per Share		 ($8.55) ($8.36) ($7.84) ($7.14) ($8.75) ($9.03) ($7.67) ($5.98) ($13.75) ($17.03) ($22.06)
Total Capital		 14,414 14,593 14,504 14,517 14,308 14,113 14,421 15,629 16,380 16,731 17,689
Total Debt		 4,047 4,069 4,000 3,997 4,017 3,980 4,007 4,784 5,285 5,541 6,538
Total Long-Term Debt		 3,288 3,288 3,997 3,494 3,517 3,480 3,503 4,784 5,034 4,291 4,708
Net Debt		 3,655 3,449 3,361 3,402 3,607 3,265 3,309 3,285 4,757 4,752 6,007
Capital Expenditures (CapEx)		 39 75 19 38 53 84 44 33 58 120 46
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,110 960 1,010 1,288 1,183 936 1,134 1,249 1,447 1,005 1,437
Debt-free Net Working Capital (DFNWC)		 1,502 1,580 1,649 1,883 1,593 1,651 1,832 2,748 1,975 1,794 1,968
Net Working Capital (NWC)		 743 799 1,646 1,380 1,093 1,151 1,328 2,748 1,724 544 138
Net Nonoperating Expense (NNE)		 38 22 37 34 42 38 37 17 49 46 37
Net Nonoperating Obligations (NNO)		 3,655 3,449 3,361 3,402 3,607 3,265 3,309 3,285 4,757 4,752 6,007
Total Depreciation and Amortization (D&A)		 112 145 112 106 123 118 110 105 114 128 129
Debt-free, Cash-free Net Working Capital to Revenue		 11.74% 9.92% 10.12% 12.61% 11.45% 9.01% 10.80% 11.83% 13.42% 9.00% 12.49%
Debt-free Net Working Capital to Revenue		 15.88% 16.33% 16.52% 18.43% 15.42% 15.89% 17.45% 26.02% 18.31% 16.07% 17.10%
Net Working Capital to Revenue		 7.86% 8.26% 16.49% 13.51% 10.58% 11.08% 12.65% 26.02% 15.99% 4.87% 1.20%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.34 $1.20 $1.54 $1.64 $1.63 $1.24 $1.88 $1.96 $1.81 $1.19 $2.12
Adjusted Weighted Average Basic Shares Outstanding		 178.60M 178.80M 176.50M 175.40M 173.40M 174.10M 170.50M 170.60M 170.50M 170.50M 170M
Adjusted Diluted Earnings per Share		 $1.33 $1.21 $1.53 $1.64 $1.63 $1.24 $1.88 $1.96 $1.81 $1.18 $2.12
Adjusted Weighted Average Diluted Shares Outstanding		 179.20M 179.50M 177.20M 176M 174.10M 174.80M 171.30M 171.20M 171.10M 171.10M 170.70M
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		 179.16M 177.03M 176.38M 175.18M 171.89M 170.85M 171.13M 170.95M 170.96M 170.52M 169.68M
Normalized Net Operating Profit after Tax (NOPAT)		 280 239 314 325 328 251 364 356 362 250 400
Normalized NOPAT Margin		 10.97% 9.45% 12.59% 12.29% 12.30% 9.70% 13.94% 13.14% 12.53% 8.42% 13.56%
Pre Tax Income Margin		 12.55% 11.08% 14.54% 14.56% 14.19% 11.00% 16.32% 16.63% 14.73% 9.81% 15.90%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 8.72 0.00 0.00 0.00 10.26 10.78 7.54 5.28 7.61
NOPAT to Interest Expense		 0.00 0.00 6.69 0.00 0.00 0.00 7.91 7.73 5.56 3.67 5.64
EBIT Less CapEx to Interest Expense		 0.00 0.00 8.32 0.00 0.00 0.00 9.30 10.07 6.65 3.51 6.96
NOPAT Less CapEx to Interest Expense		 0.00 0.00 6.28 0.00 0.00 0.00 6.95 7.01 4.67 1.91 4.99
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 17.21% 16.97% 15.61% 13.44% 13.82% 13.68% 13.70% 13.91% 14.26% 15.13% 15.50%
Augmented Payout Ratio		 59.58% 66.55% 59.31% 65.24% 119.42% 116.49% 105.01% 88.58% 37.00% 33.98% 45.61%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, data-driven look at Wabtec (NYSE: WAB) using the latest four years of quarterly statements. The focus is on trends in revenue, margins, cash flow, and leverage that may matter to retail investors.

  • Rising revenue with scale growth: Revenue has grown from about $2.31B in Q4 2022 to $2.97B in Q4 2025, a multi-year expansion that includes substantial 2025 acquisitions. The trajectory suggests stronger demand and greater scale over time.
  • Gross margin generally in the low 30s: Gross margin has hovered in the low-to-mid 30s (roughly 32–35%) across recent quarters, indicating ongoing price/cost discipline despite a heavier asset base from acquisitions.
  • Steady, strong operating cash flow with positive free cash flow: Operating cash flow has remained robust, with Q4 2025 near $1.0B from operations and free cash flow (operating cash flow minus capex) around $0.87B, signaling solid cash generation even after capital investments.
  • Consistent quarterly shareholder returns: The company has continued to return capital via dividends (roughly $43–$49M per quarter) and modest share repurchases, which supports shareholder value while funding growth initiatives.
  • Acquisitions boosting the asset base and goodwill: 2025 saw several large acquisitions (e.g., around $0.76B in Q4 and over $1.7B in prior quarters), lifting total assets and goodwill (Goodwill at about $9.85B by Q3 2025). This expansion can support scale but may raise impairment and integration considerations.
  • Debt and financing activity to fund growth: The company issued debt in late 2025 (about $851M) to finance expansions and acquisitions, with corresponding net financing activity contributing to a positive but cautious cash flow mix.
  • Cash balance volatility but overall liquidity remains manageable: Cash and equivalents fluctuated across quarters (e.g., about $528M in Q3 2025 vs. higher levels previously), but operating cash flow generally supports liquidity without relying on one-off financing.
  • Net income and margins show quarter-to-quarter variability: Net income to common declined in Q4 2025 to about $202M from $313M in Q3 2025, contributing to a softer quarterly earnings picture despite higher revenue.
  • Rising interest expense pressure in 2025: Interest expense increased to about $68M in Q4 2025 (from roughly $46M in earlier quarters), which pressures pretax income and net income margins.
  • Higher leverage and financing risk from acquisitions: Ongoing acquisitions and debt issuance have pushed leverage higher, which can magnify sensitivity to interest rates and cyclicality in end markets.
05/18/26 05:19 PM ETAI Generated. May Contain Errors.

Wabtec Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Wabtec's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Wabtec's net income appears to be on an upward trend, with a most recent value of $1.18 billion in 2025, rising from $398.63 million in 2015. The previous period was $1.07 billion in 2024. See Wabtec's forecast for analyst expectations on what's next for the company.

Wabtec's total operating income in 2025 was $1.79 billion, based on the following breakdown:
  • Total Gross Profit: $3.81 billion
  • Total Operating Expenses: $2.01 billion

Over the last 10 years, Wabtec's total revenue changed from $3.31 billion in 2015 to $11.17 billion in 2025, a change of 237.6%.

Wabtec's total liabilities were at $10.88 billion at the end of 2025, a 27.0% increase from 2024, and a 611.9% increase since 2015.

In the past 10 years, Wabtec's cash and equivalents has ranged from $226.19 million in 2015 to $789 million in 2025, and is currently $789 million as of their latest financial filing in 2025.

Over the last 10 years, Wabtec's book value per share changed from 17.62 in 2015 to 65.17 in 2025, a change of 270.0%.


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Financial statements for NYSE:WAB last updated on 4/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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