Wabtec Corporation (WAB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$2.61	$2.76	+5.7%	—	—	—
Q3 26	$2.52	$2.71	+7.5%	—	—	—
Q2 26	$2.28	$2.32	+1.8%	—	—	—
Q1 26	$2.18	$2.27	+4.1%	—	—	—
Q4 25	$2.03	$2.28	+12.3%	—	—	—
Q3 25	$1.73	$1.68	-2.9%	—	—	—
Q2 25	$1.88	$2	+6.4%	—	—	—
Q1 25	$1.87	$1.96	+4.8%	—	—	—
Q4 24	$1.48	$1.89	+27.7%	—	—	—
Q3 24	$1.58	$1.54	-2.5%	—	—	—
Q2 24	$1.46	$1.7	+16.4%	—	—	—
Q1 24	$1.33	$1.41	+6.0%	—	—	—
Q4 23	$1.2	$1.28	+6.7%	—	—	—
Q3 23	$1.28	$1.3	+1.6%	—	—	—
Q2 23	$1.21	$1.22	+0.8%	—	—	—
Q1 23	$1.22	$1.23	+0.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.84	—	—	$11.2B	—
FY24	—	$6.05	—	—	$10.4B	—
FY23	—	$4.54	—	—	$9.7B	—
FY22	—	$3.46	—	—	$8.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.9B	$3.9B	$4.4B	$8.2B	$7.6B	$7.8B	$8.4B	$9.7B	$10.4B	$11.2B
YoY change	-11.4%	+32.4%	+12.4%	+87.9%	-7.85%	+3.52%	+6.9%	+15.7%	+7.34%	+7.51%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.9B	3.9B	4.4B	8.2B	7.6B	7.8B	8.4B	9.7B	10.4B	11.2B
Cost of revenue	2B	2.8B	3.1B	5.9B	5.4B	5.5B	5.8B	6.7B	7B	7.4B
Gross profit	924.2M	1.1B	1.2B	2.3B	2.1B	2.4B	2.5B	2.9B	3.4B	3.8B
Gross margin	31.5%	27.4%	28.3%	27.8%	28.3%	30.3%	30.4%	30.4%	32.4%	34.1%
Research & development	71.4M	95.2M	87.5M	210M	162M	176M	209M	218M	206M	223M
Selling, general & administrative	373.6M	512.5M	633.2M	1.2B	948M	1B	1B	1.1B	1.2B	1.5B
Operating expenses	516.3M	702.9M	808.2M	1.6B	1.3B	1.2B	1.2B	1.4B	1.5B	1.7B
Operating income	456.6M	421.1M	473.4M	663M	745M	876M	1B	1.3B	1.6B	1.8B
Operating margin	15.6%	10.8%	10.8%	8.09%	9.86%	11.2%	12.1%	13.1%	15.5%	16.1%
Non-operating income, net	6.5M	8.9M	6.4M	3M	11M	38M	29M	44M	2M	24M
Pretax income	412.8M	352.1M	367.6M	447M	557M	737M	854M	1.1B	1.4B	1.6B
Income tax	99.4M	89.8M	75.9M	120M	145M	172M	213M	267M	343M	409M
Net income	313.4M	262.3M	291.7M	327M	412M	565M	641M	825M	1.1B	1.2B
Net margin	10.7%	6.76%	6.69%	3.99%	5.45%	7.22%	7.67%	8.53%	10.3%	10.6%
EBITDA	536.9M	539.8M	594.8M	999M	1.1B	1.3B	1.5B	1.8B	2.1B	2.3B
EPS	3.37	2.74	3.06	1.91	2.18	2.96	3.46	4.54	6.05	6.84
Diluted EPS	3.34	2.72	3.05	1.84	2.17	2.96	3.46	4.53	6.04	6.83

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.5B	2.5B	2.5B	2.6B	2.7B	2.6B	2.6B	2.7B	2.9B	3B	3B	3.2B
Cost of revenue	1.8B	1.8B	1.7B	1.8B	1.8B	1.8B	1.7B	1.8B	1.9B	2B	1.9B	2B
Gross profit	792M	764M	815M	874M	880M	797M	900M	938M	1B	966M	1.1B	1.2B
Gross margin	31.1%	30.2%	32.6%	33.1%	33%	30.9%	34.5%	34.7%	34.7%	32.6%	36%	36.5%
Research & development	53M	61M	48M	57M	50M	51M	46M	50M	59M	68M	56M	70M
Selling, general & administrative	295M	296M	281M	314M	318M	333M	307M	347M	375M	461M	401M	400M
Operating expenses	348M	357M	329M	371M	368M	384M	353M	397M	434M	529M	457M	470M
Operating income	370M	308M	412M	432M	433M	334M	474M	472M	491M	356M	517M	600M
Operating margin	14.5%	12.2%	16.5%	16.3%	16.3%	12.9%	18.2%	17.4%	17%	12%	17.5%	18.9%
Non-operating income, net	10M	27M	-2M	2M	-3M	3M	-2M	24M	-1M	3M	23M	-2M
Pretax income	320M	280M	363M	385M	378M	284M	426M	450M	425M	291M	469M	518M
Income tax	78M	63M	86M	94M	92M	71M	99M	111M	112M	87M	106M	122M
Net income	242M	217M	277M	291M	286M	213M	327M	339M	313M	204M	363M	396M
Net margin	9.49%	8.59%	11.1%	11%	10.7%	8.25%	12.5%	12.5%	10.8%	6.88%	12.3%	12.5%
EBITDA	495M	491M	526M	541M	559M	463M	590M	575M	607M	489M	651M	735M
EPS	1.34	1.2	1.54	1.64	1.63	1.23	1.88	1.96	1.81	1.19	2.12	2.33
Diluted EPS	1.33	1.2	1.53	1.64	1.63	1.23	1.88	1.96	1.81	1.18	2.12	2.33

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.5B	7.8B	6.7B	—	—	17.3B	18.2B	22.7B	33B	36.4B	49.4B
Enterprise value	9B	9.4B	10B	—	—	20.9B	21.6B	26.1B	36.3B	41.2B	55B
Shares outstanding	90.4M	95.5M	96M	170.5M	189.9M	187.7M	182.2M	178.8M	174.1M	170.5M	170.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	23.9	29.6	23.1	—	—	30.6	28.4	27.5	30.9	30.8	39.1
P/S	2.56	2	1.55	—	—	2.21	2.17	2.34	3.18	3.26	4.1
P/B	2.52	2.75	2.35	—	—	1.69	1.79	2.16	3.26	3.25	4.38
EV/EBITDA	16.8	17.4	16.8	—	—	15.5	14.8	14.5	17.4	18.2	20.7
EV/Sales	3.07	2.42	2.3	—	—	2.67	2.59	2.7	3.49	3.69	4.59
Earnings yield	4.18%	3.37%	4.33%	—	—	3.27%	3.52%	3.64%	3.23%	3.25%	2.56%
FCF yield	5.34%	1.28%	3.28%	—	—	5.45%	4.89%	4.47%	4.93%	4.12%	2.23%
PEG	—	—	—	—	—	—	—	—	—	—	2.07

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	31.5%	27.4%	28.3%	27.8%	28.3%	30.3%	30.4%	30.4%	32.4%	34.1%	36.5%
Operating margin	15.6%	10.8%	10.8%	8.09%	9.86%	11.2%	12.1%	13.1%	15.5%	16.1%	19.2%
Net margin	10.7%	6.76%	6.69%	3.99%	5.45%	7.22%	7.67%	8.53%	10.3%	10.6%	10.6%
ROE	10.5%	9.27%	10.2%	3.27%	4.06%	5.52%	6.32%	7.84%	10.5%	10.6%	11.6%
ROA	4.76%	3.99%	3.37%	1.73%	2.23%	3.06%	3.46%	4.34%	5.71%	5.36%	6.17%
ROIC	7.75%	7.02%	6.11%	3.51%	4%	4.86%	5.58%	6.85%	9.08%	8.34%	8.58%
Return on tangible assets	99.3%	-35%	18.3%	-5.46%	-6.59%	-9.22%	-12.1%	-16.6%	-23.3%	-19.6%	-20.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.98	1.44	2.7	1.29	1.2	1.32	1.25	1.2	1.3	1.11	1.12
Quick ratio	1.53	0.97	2.19	0.74	0.69	0.74	0.66	0.63	0.69	0.57	0.59
Debt / equity	0.64	0.66	1.34	0.44	0.42	0.4	0.39	0.39	0.39	0.5	0.62
Debt / assets	0.29	0.28	0.45	0.23	0.23	0.22	0.22	0.21	0.21	0.25	0.28
Net debt / EBITDA	2.78	3.03	5.51	3.83	3.17	2.66	2.37	1.91	1.57	2.11	2.38
Interest coverage	9.21	5.52	4.28	3.04	3.8	5.16	5.59	6.01	8.01	8.08	7
Effective tax rate	24.1%	25.5%	20.6%	26.8%	26%	23.3%	24.9%	24.5%	24.3%	25.7%	25.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	32.4	40.7	45.5	48.1	39.8	41.7	45.9	54.1	59.7	65.5	70.5
EPS (basic)	3.37	2.74	3.06	1.91	2.18	2.96	3.46	4.54	6.05	6.84	6.84
EPS (diluted)	3.34	2.72	3.05	1.84	2.17	2.96	3.46	4.53	6.04	6.83	7.43
Book value per share	32.9	29.6	29.9	58.6	53.5	54.5	55.7	58.9	58.2	65.6	66.3
FCF per share	4.43	1.04	2.31	4.87	3.41	5.02	4.88	5.68	9.35	8.79	10.1
Cash per share	4.41	2.45	6.05	3.54	3.15	2.52	2.97	3.47	4.06	4.48	3.91
Capex per share	0.55	0.92	0.85	1.07	0.61	0.56	0.8	1.03	1.11	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.7%	2.27%	1.88%	2.22%	1.52%	1.34%	1.75%	1.9%	1.87%	—	—
Capex / operating cash flow	10.5%	55.8%	29.9%	19.8%	16%	11.1%	15.9%	17.2%	11.5%	—	—
Payout ratio	10.3%	16.1%	15.9%	25.1%	22.6%	16.3%	17.3%	14.9%	13.1%	14.6%	15.1%
Dividend yield	0.43%	0.54%	0.69%	—	—	0.53%	0.61%	0.54%	0.42%	0.48%	0.42%

Yield

0.42%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.31

ex-dividend Aug 18, 2026

Payout ratio

15%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 18, 2026	$0.31
May 22, 2026	$0.31
Feb 17, 2026	$0.31

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.5B	$2.5B	$2.5B	$2.6B	$2.7B	$2.6B	$2.6B	$2.7B	$2.9B	$3B	$3B	$3.2B
YoY change	+22.5%	+9.54%	+13.8%	+9.85%	+4.43%	+2.26%	+4.53%	+2.34%	+8.37%	+14.8%	+13%	+17.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	398.5M	233.4M	580.9M	604.2M	599M	473M	541M	620M	706M	764M
Receivables	667.6M	800.6M	801.2M	1.1B	969M	1.1B	975M	1.2B	1.2B	1.4B
Inventory	658.5M	742.6M	844.9M	1.8B	1.6B	1.7B	2B	2.3B	2.3B	2.7B
Total current assets	2.9B	2.3B	4.4B	4.2B	3.9B	3.8B	4.3B	4.9B	4.9B	5.7B
Property, plant & equipment	293.1M	314.4M	315.7M	881.6M	800M	712M	646M	647M	637M	764M
Goodwill & intangibles	6.3B	7.3B	7.1B	24.9B	24.7B	24.6B	23.8B	24B	23.3B	28.1B
Total assets	6.6B	6.6B	8.6B	18.9B	18.5B	18.5B	18.5B	19B	18.7B	22.1B
Accounts payable	530.2M	552.5M	589.4M	1.2B	909M	1B	1.3B	1.3B	1.3B	1.4B
Short-term debt	129.8M	47.2M	64.1M	95.7M	447M	2M	251M	781M	500M	1.3B
Total current liabilities	1.4B	1.6B	1.6B	3.3B	3.2B	2.9B	3.5B	4.1B	3.8B	5.2B
Long-term debt	1.8B	1.8B	3.8B	4.3B	3.8B	4.1B	3.8B	3.3B	3.5B	4.3B
Total liabilities	3.6B	3.8B	5.8B	9B	8.3B	8.2B	8.4B	8.5B	8.6B	10.9B
Shareholders' equity	3B	2.8B	2.9B	10B	10.2B	10.2B	10.1B	10.5B	10.1B	11.2B
Total debt	1.9B	1.9B	3.9B	4.4B	4.2B	4.1B	4B	4.1B	4B	5.5B
Net debt	1.5B	1.6B	3.3B	3.8B	3.6B	3.6B	3.5B	3.4B	3.3B	4.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	500M	764M	531M	670M
Receivables	—	—	—	—	—	—	—	—	1.7B	1.4B	1.8B	1.7B
Inventory	—	—	—	—	—	—	—	—	2.7B	2.7B	2.9B	2.9B
Total current assets	—	—	—	—	—	—	—	—	5.8B	5.7B	6B	6B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	764M	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	26.8B	28.1B	29.7B	29.4B
Total assets	—	—	—	—	—	—	—	—	21.5B	22.1B	23.2B	23.1B
Accounts payable	—	—	—	—	—	—	—	—	1.4B	1.4B	1.4B	1.4B
Short-term debt	—	—	—	—	—	—	—	—	251M	1.3B	1.8B	1.7B
Total current liabilities	—	—	—	—	—	—	—	—	4.1B	5.2B	5.8B	5.4B
Long-term debt	3.3B	3.3B	4B	3.5B	3.5B	3.5B	3.5B	4.8B	5B	4.3B	4.7B	4.9B
Total liabilities	—	—	—	—	—	—	—	—	10.4B	10.9B	12B	11.9B
Shareholders' equity	—	—	—	—	—	—	—	—	11.1B	11.2B	11.2B	11.2B
Total debt	3.3B	3.3B	4B	3.5B	3.5B	3.5B	3.5B	4.8B	5.3B	5.5B	6.5B	6.6B
Net debt	—	—	—	—	—	—	—	—	4.8B	4.8B	6B	5.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	313.4M	262.3M	291.7M	327M	412M	565M	641M	825M	1.1B	1.2B
Depreciation & amortization	69.8M	103.2M	109.3M	319M	385M	441M	426M	477M	459M	457M
Stock-based compensation	20.8M	21.3M	25.3M	50M	20M	46M	41M	47M	66M	80M
Change in working capital	79.6M	-161.2M	-146.8M	332M	-38M	-143M	-224M	-224M	42M	-35M
Operating cash flow	473.4M	158.2M	274.2M	919M	720M	947M	920M	1.1B	1.7B	1.8B
Capital expenditure	-49.9M	-88.2M	-82M	-182M	-115M	-105M	-146M	-184M	-194M	—
Investing cash flow	-775.1M	-299.5M	-147.3M	-3.2B	-155M	-540M	-235M	-492M	-343M	-2.5B
Dividends paid	-32.4M	-42.2M	-46.3M	-82M	-93M	-92M	-111M	-123M	-140M	-173M
Share repurchases	-212.2M	0	0	0	-207M	-300M	-473M	-409M	-1.1B	-223M
Financing cash flow	521M	-101.8M	2B	461M	-619M	-653M	-708M	-633M	-1.4B	1B
Net change in cash	219.3M	-243.1M	2.1B	-1.8B	-54M	-246M	-23M	-58M	-29M	298M
Free cash flow	400.3M	99.3M	221.4M	830M	648M	943M	889M	1B	1.6B	1.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	242M	217M	277M	291M	286M	213M	327M	339M	313M	204M	363M	396M
Depreciation & amortization	112M	145M	112M	106M	123M	118M	110M	105M	114M	128M	129M	133M
Stock-based compensation	14M	11M	12M	14M	18M	22M	17M	19M	22M	22M	22M	28M
Change in working capital	-53M	247M	26M	53M	221M	33M	-294M	-82M	-238M	579M	-389M	-30M
Operating cash flow	315M	620M	427M	464M	648M	386M	160M	381M	367M	992M	199M	441M
Capital expenditure	-39M	-75M	-19M	-38M	-53M	-84M	-44M	-33M	—	—	—	—
Investing cash flow	-43M	-156M	-19M	-38M	-49M	-237M	-44M	-54M	-1.7B	-760M	-1.1B	0
Dividends paid	-30M	-31M	-36M	-35M	-35M	-34M	-43M	-44M	-43M	-43M	-53M	-53M
Share repurchases	0	-157M	-175M	-200M	-599M	-123M	-98M	-50M	0	-75M	-242M	-215M
Financing cash flow	-353M	-310M	-289M	-234M	-686M	-162M	-172M	626M	453M	124M	656M	-248M
Net change in cash	-81M	154M	119M	192M	-87M	-13M	-56M	953M	-911M	356M	-204M	193M
Free cash flow	386M	609M	303M	189M	496M	639M	147M	170M	312M	870M	153M	379M

Wabtec Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history