WAB

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Westinghouse Air Brake Technologies Corp.

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Key Metrics

Previous Close: $292.23
52-Week Range: $184.26 – $306.64
Market Cap: $49.37B
P/E (TTM): 39.39
EPS (TTM): 7.42
Dividend Yield: 0.42%

Advanced Metrics

Price/Book: 4.41
PEG Ratio: 1.37
Return on Equity: 11.55%
Return on Assets: 6.17%
Gross Margin: 35.73%
Operating Margin: 19.19%
Profit Margin: 10.59%
Current Ratio: 1.12
Debt/Equity: 0.62
Total Debt: $6.94B
Free Cash Flow: $1.10B
Revenue Growth: 17.50%
Earnings Growth: 18.90%
Enterprise Value: $55.68B

WAB Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$8.36B	$9.68B	$10.39B	$11.17B
Cost of Revenue	$5.82B	$6.73B	$7.02B	$7.36B
Gross Profit	$2.54B	$2.94B	$3.37B	$3.81B
Research & Development	$209.00M	$218.00M	$206.00M	$223.00M
Selling, General & Admin	$1.03B	$1.14B	$1.25B	$1.49B
Operating Expenses	$1.53B	$1.68B	$1.76B	$2.01B
Operating Income	$1.01B	$1.27B	$1.61B	$1.79B
EBITDA	$1.47B	$1.79B	$2.07B	$2.27B
Pretax Income	$854.00M	$1.09B	$1.41B	$1.59B
Income Tax	$213.00M	$267.00M	$343.00M	$409.00M
Net Income	$633.00M	$815.00M	$1.06B	$1.17B
Diluted EPS	3.46	4.53	6.04	6.83
Diluted Shares	182.80M	179.50M	174.80M	171.10M

WAB Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$541.00M	$620.00M	$715.00M	$764.00M
Receivables	$1.52B	$1.68B	$1.70B	$1.90B
Inventory	$2.03B	$2.28B	$2.31B	$2.75B
Current Assets	$4.33B	$4.86B	$4.94B	$5.69B
Total Assets	$18.52B	$18.99B	$18.70B	$22.07B
Current Liabilities	$3.47B	$4.06B	$3.79B	$5.15B
Long-Term Debt	$3.75B	$3.29B	$3.48B	$4.29B
Total Debt	$4.00B	$4.07B	$3.98B	$5.54B
Total Liabilities	$8.37B	$8.46B	$8.57B	$10.88B
Retained Earnings	$4.58B	$5.27B	$6.18B	$3.88B
Shareholders' Equity	$10.10B	$10.49B	$10.09B	$11.14B
Working Capital	$860.00M	$799.00M	$1.15B	$544.00M
Net Debt	$3.46B	$3.45B	$3.27B	$4.78B

WAB Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.04B	$1.20B	$1.83B	$1.76B
Capital Expenditure	-$149.00M	-$186.00M	-$207.00M	-$260.00M
Free Cash Flow	$889.00M	$1.01B	$1.63B	$1.50B
Depreciation & Amortisation	$426.00M	$477.00M	$459.00M	$457.00M
Stock-Based Compensation	$41.00M	$47.00M	$66.00M	$80.00M
Investing Cash Flow	-$235.00M	-$492.00M	-$343.00M	-$2.75B
Financing Cash Flow	-$708.00M	-$633.00M	-$1.37B	$1.03B
Dividends Paid	-$111.00M	-$123.00M	-$140.00M	-$173.00M
Share Repurchases	-$473.00M	-$409.00M	-$1.10B	-$223.00M
Net Change in Cash	$95.00M	$76.00M	$120.00M	$43.00M

WAB Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$2.71B	$2.89B	$2.96B	$2.95B	$3.18B
Cost of Revenue	$1.77B	$1.88B	$2.00B	$1.89B	$2.02B
Gross Profit	$938.00M	$1.00B	$966.00M	$1.06B	$1.16B
Research & Development	$50.00M	$59.00M	$68.00M	$56.00M	$70.00M
Selling, General & Admin	$347.00M	$375.00M	$461.00M	$401.00M	$400.00M
Operating Expenses	$466.00M	$511.00M	$610.00M	$544.00M	$561.00M
Operating Income	$472.00M	$491.00M	$356.00M	$517.00M	$600.00M
EBITDA	$601.00M	$604.00M	$487.00M	$669.00M	$731.00M
Pretax Income	$450.00M	$425.00M	$291.00M	$469.00M	$518.00M
Income Tax	$111.00M	$112.00M	$87.00M	$106.00M	$122.00M
Net Income	$336.00M	$310.00M	$202.00M	$362.00M	$395.00M
Diluted EPS	1.96	1.81	1.18	2.12	2.33
Diluted Shares	171.20M	171.10M	171.00M	170.70M	169.60M

WAB Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.49B	$500.00M	$764.00M	$531.00M	$670.00M
Receivables	$2.00B	$2.20B	$1.90B	$2.25B	$2.17B
Inventory	$2.57B	$2.75B	$2.75B	$2.85B	$2.86B
Current Assets	$6.35B	$5.79B	$5.69B	$5.97B	$6.04B
Total Assets	$20.39B	$21.53B	$22.07B	$23.20B	$23.13B
Current Liabilities	$3.61B	$4.06B	$5.15B	$5.83B	$5.39B
Long-Term Debt	$4.78B	$5.03B	$4.29B	$4.71B	$4.92B
Total Debt	$4.78B	$5.29B	$5.54B	$6.54B	$6.57B
Total Liabilities	$9.55B	$10.43B	$10.88B	$12.04B	$11.88B
Retained Earnings	$3.45B	$3.72B	$3.88B	$4.19B	$4.53B
Shareholders' Equity	$10.80B	$11.05B	$11.14B	$11.10B	$11.21B
Working Capital	$2.75B	$1.72B	$544.00M	$138.00M	$654.00M
Net Debt	$3.30B	$4.79B	$4.78B	$6.01B	$5.90B

WAB Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$209.00M	$367.00M	$992.00M	$199.00M	$441.00M
Capital Expenditure	-$39.00M	-$55.00M	-$122.00M	-$46.00M	-$62.00M
Free Cash Flow	$170.00M	$312.00M	$870.00M	$153.00M	$379.00M
Depreciation & Amortisation	$105.00M	$114.00M	$128.00M	$129.00M	$133.00M
Stock-Based Compensation	$19.00M	$22.00M	$22.00M	$22.00M	$28.00M
Investing Cash Flow	-$54.00M	-$1.79B	-$860.00M	-$1.10B	-$55.00M
Financing Cash Flow	$626.00M	$453.00M	$124.00M	$656.00M	-$248.00M
Dividends Paid	-$44.00M	-$43.00M	-$43.00M	-$53.00M	-$53.00M
Share Repurchases	-$50.00M	$0.00	-$75.00M	-$242.00M	-$215.00M
Net Change in Cash	$781.00M	-$969.00M	$256.00M	-$250.00M	$138.00M

Market Snapshot

About

Westinghouse Air Brake Technologies (Wabtec) is a global provider of equipment, systems, and services for the freight rail and passenger transit industries. The company manufactures locomotives, brakes, signaling systems, and other rail technology across its Transit and Freight segments.