Wabash National Corporation (WNC) 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	-$0.56	-$0.53	+5.4%	—	—	—
Q3 26	-$1.01	-$1.17	-15.8%	—	—	—
Q2 26	-$0.76	-$0.93	-22.4%	—	—	—
Q1 26	-$0.39	-$0.51	-30.8%	—	—	—
Q4 25	-$0.34	-$0.15	+55.9%	—	—	—
Q3 25	-$0.28	-$0.58	-107.1%	—	—	—
Q2 25	$0.03	-$0.02	-166.7%	—	—	—
Q1 25	$0.23	$0.19	-17.4%	—	—	—
Q4 24	$0.56	$0.64	+14.3%	—	—	—
Q3 24	$0.46	$0.39	-15.2%	—	—	—
Q2 24	$0.91	$1.07	+17.6%	—	—	—
Q1 24	$1.02	$1.16	+13.7%	—	—	—
Q4 23	$1.32	$1.54	+16.7%	—	—	—
Q3 23	$0.48	$1.04	+116.7%	—	—	—
Q2 23	$0.72	$0.84	+16.7%	—	—	—
Q1 23	$0.57	$0.73	+28.1%	—	—	—

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	—	$5.09	—	—	$1.5B	—
FY24	—	-$6.4	—	—	$1.9B	—
FY23	—	$4.92	—	—	$2.5B	—
FY22	—	$2.31	—	—	$2.5B

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	$1.8B	$1.8B	$2.3B	$2.3B	$1.5B	$1.8B	$2.5B	$2.5B	$1.9B	$1.5B
YoY change	-8.98%	-4.24%	+28.3%	+2.29%	-36.1%	+21.7%	+38.8%	+1.37%	-23.3%	-20.8%

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	1.8B	1.8B	2.3B	2.3B	1.5B	1.8B	2.5B	2.5B	1.9B	1.5B
Cost of revenue	1.5B	1.5B	2B	2B	1.3B	1.6B	2.2B	2B	1.7B	1.5B
Gross profit	325.5M	260.9M	283.7M	306.4M	159.8M	196.5M	322.7M	498.2M	265.1M	69.9M
Gross margin	17.6%	14.8%	12.5%	13.2%	10.8%	10.9%	12.9%	19.6%	13.6%	4.53%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	101.4M	103.4M	128.2M	143.1M	117.8M	112.5M	140.2M	173.2M	608.7M	-262.3M
Operating expenses	103.1M	103.4M	128.2M	143.1M	117.8M	112.5M	140.2M	173.2M	608.7M	-262.3M
Operating income	204.2M	140.4M	136M	142.8M	20M	61.1M	167.3M	312.2M	-355.6M	321.1M
Operating margin	11.1%	7.95%	6%	6.16%	1.35%	3.39%	6.69%	12.3%	-18.3%	20.8%
Non-operating income, net	-3.1M	-1.5M	-11.3M	2.3M	-105M	-36.7M	-367K	2.4M	-1.1M	-16.6M
Pretax income	185.4M	122.5M	96M	117.7M	-109.2M	1.3M	146.4M	294.7M	-376.6M	283.2M
Income tax	66M	11.1M	26.6M	28.2M	-11.8M	126K	33.7M	62.8M	-93.5M	71.5M
Net income	119.4M	111.4M	69.4M	89.6M	-97.4M	1.2M	112.8M	231.9M	-283.1M	211.6M
Net margin	6.47%	6.31%	3.06%	3.86%	-6.57%	0.06%	4.51%	9.14%	-14.5%	13.7%
EBITDA	239.5M	183.6M	190.5M	187.4M	68.5M	100.8M	214.6M	360.1M	-299.3M	376.8M
EPS	1.87	1.88	1.22	1.64	-1.84	0.02	2.31	4.92	-6.4	5.09
Diluted EPS	1.82	1.78	1.19	1.62	-1.84	0.02	2.25	4.81	-6.4	5.07

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	632.8M	596.1M	515.3M	550.6M	464M	416.8M	380.9M	458.8M	381.6M	321.5M	303.2M	417.2M
Cost of revenue	509.9M	487.9M	438.8M	461M	408M	373.9M	361.9M	417.4M	365.9M	327.7M	313.8M	401.9M
Gross profit	122.9M	108.2M	76.4M	89.7M	56M	43M	19M	41.4M	15.7M	-6.2M	-10.6M	15.3M
Gross margin	19.4%	18.2%	14.8%	16.3%	12.1%	10.3%	4.99%	9.02%	4.12%	-1.93%	-3.49%	3.67%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	41.9M	43.8M	43.7M	41.9M	486.2M	36.9M	-298.3M	43.3M	-44.9M	37.6M	39.8M	38.7M
Operating expenses	41.9M	43.8M	43.7M	41.9M	486.2M	36.9M	-298.3M	43.3M	-44.9M	37.6M	39.8M	38.7M
Operating income	77.8M	61.2M	29.6M	44.8M	-433.1M	3.1M	314.5M	-4.7M	57.8M	-46.6M	-53.1M	-26M
Operating margin	12.3%	10.3%	5.74%	8.13%	-93.3%	0.75%	82.6%	-1.03%	15.2%	-14.5%	-17.5%	-6.24%
Non-operating income, net	697K	798K	123K	-840K	-242K	-180K	-197K	-2.3M	-808K	-13.3M	995K	1.3M
Pretax income	73.5M	57M	24.7M	39M	-438.3M	-2M	309.3M	-12.3M	51.7M	-65.5M	-58.3M	-31.5M
Income tax	18.1M	6.5M	6.4M	9.8M	-108.4M	-1.3M	78.1M	-2.7M	11.6M	-15.5M	-13M	-8.9M
Net income	55.5M	50.5M	18.3M	29.2M	-329.9M	-693K	231.2M	-9.6M	40M	-50M	-45.2M	-22.6M
Net margin	8.77%	8.47%	3.55%	5.3%	-71.1%	-0.17%	60.7%	-2.09%	10.5%	-15.6%	-14.9%	-5.42%
EBITDA	91.1M	74.7M	42.4M	58.6M	-419.4M	19.1M	329.3M	7.1M	71.9M	-31.5M	-37.7M	-11.9M
EPS	1.18	1.1	0.4	0.65	-7.53	-0.02	5.41	-0.23	0.98	-1.23	-1.11	-0.56
Diluted EPS	1.16	1.07	0.39	0.64	-7.53	-0.02	5.36	-0.23	0.97	-1.23	-1.11	-0.56

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	1B	1.3B	745.5M	803.5M	912.2M	989.4M	1.1B	1.2B	759.9M	359.1M	515.3M
Enterprise value	1.1B	1.6B	1.1B	1.1B	1.1B	1.3B	1.4B	1.4B	1.1B	783.3M	990.3M
Shares outstanding	63.7M	59.4M	57M	54.7M	52.9M	50.7M	48.6M	47M	44.4M	41.5M	41.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	8.44	11.6	10.7	8.97	—	850	9.75	5.19	—	1.7	1.5
P/S	0.55	0.73	0.33	0.35	0.62	0.55	0.44	0.47	0.39	0.23	0.36
P/B	2.13	2.55	1.57	1.54	2.25	3.04	2.76	2.19	4	0.97	1.76
EV/EBITDA	4.52	8.98	5.87	5.99	16.7	13.4	6.72	3.97	-3.52	2.08	-109.5
EV/Sales	0.59	0.93	0.49	0.48	0.77	0.75	0.58	0.56	0.54	0.51	0.7
Earnings yield	11.8%	8.65%	9.31%	11.1%	—	0.12%	10.3%	19.3%	—	58.9%	66.7%
FCF yield	15.7%	9.19%	10.5%	13.5%	11.4%	-5.72%	6.1%	18.4%	5.93%	-3.63%	28.7%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	17.6%	14.8%	12.5%	13.2%	10.8%	10.9%	12.9%	19.6%	13.6%	4.53%	3.67%
Operating margin	11.1%	7.95%	6%	6.16%	1.35%	3.39%	6.69%	12.3%	-18.3%	20.8%	-6.24%
Net margin	6.47%	6.31%	3.06%	3.86%	-6.57%	0.06%	4.51%	9.14%	-14.5%	13.7%	-5.48%
ROE	25.3%	22%	14.7%	17.2%	-24.1%	0.36%	28.3%	42.1%	-149.1%	57.4%	-22.9%
ROA	13.3%	8.24%	5.32%	6.87%	-8.39%	0.11%	9.37%	17%	-20.1%	18.1%	-3.22%
ROIC	24.1%	14.7%	11.6%	12.9%	3.12%	8.04%	17.4%	31.6%	-73.6%	30.3%	-9.1%
Return on tangible assets	28.9%	45.9%	26.5%	29.6%	-22.7%	0.23%	18%	28.5%	-32%	32%	-11.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.89	2.03	2.02	2.09	2.31	1.83	1.71	1.93	1.93	1.39	1.31
Quick ratio	2.05	1.39	1.34	1.37	1.62	1.01	1	1.17	1.09	0.79	0.8
Debt / equity	0.5	1.09	1.07	0.88	1.12	1.33	1.01	0.74	2.15	1.24	1.86
Debt / assets	0.26	0.41	0.39	0.35	0.39	0.39	0.33	0.3	0.29	0.39	0.42
Net debt / EBITDA	0.31	1.96	1.96	1.71	3.43	3.57	1.6	0.63	-0.98	1.13	-48.4
Interest coverage	12.8	8.47	4.34	5.31	-3.51	1.06	8.13	15.8	-18	14.3	-3.34
Effective tax rate	35.6%	9.07%	27.7%	23.9%	0%	9.77%	23%	21.3%	0%	25.3%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	29	29.8	39.8	42.4	28	35.6	51.5	54	43.9	37.2	34.9
EPS (basic)	1.87	1.88	1.22	1.64	-1.84	0.02	2.31	4.92	-6.4	5.09	5.09
EPS (diluted)	1.82	1.78	1.19	1.62	-1.84	0.02	2.25	4.81	-6.4	5.07	-1.77
Book value per share	7.41	8.53	8.31	9.53	7.65	6.42	8.19	11.7	4.28	8.88	7.18
FCF per share	2.49	1.99	1.38	1.99	1.96	-1.12	1.38	4.71	1.02	-0.31	-0.39
Cash per share	2.57	3.23	2.33	2.57	4.11	1.42	1.2	3.81	2.6	0.77	1.75
Capex per share	0	0.18	0.31	0.01	—	—	—	—	—	0.6	0.37

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0.61%	0.78%	0.03%	—	—	—	—	—	1.6%	1.07%
Capex / operating cash flow	0.01%	7.44%	29.9%	0.52%	—	—	—	—	—	211.8%	-2.1K%
Payout ratio	0%	13.7%	25.6%	19.9%	-17.8%	1.4K%	14.2%	6.84%	-5.22%	6.51%	6.31%
Dividend yield	0%	1.19%	2.38%	2.22%	1.9%	1.66%	1.46%	1.32%	1.94%	3.84%	2.53%

Yield

2.53%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.08

ex-dividend Jul 2, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.08
Apr 2, 2026	$0.08
Jan 8, 2026	$0.08

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	$632.8M	$596.1M	$515.3M	$550.6M	$464M	$416.8M	$380.9M	$458.8M	$381.6M	$321.5M	$303.2M	$417.2M
YoY change	-3.41%	-9.33%	-17%	-19.8%	-26.7%	-30.1%	-26.1%	-16.7%	-17.8%	-22.9%	-20.4%	-9.06%

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	163.5M	191.5M	132.7M	140.5M	217.7M	71.8M	58.2M	179.3M	115.5M	31.9M
Receivables	153.6M	146.8M	181.1M	172.7M	101.3M	176.5M	255.6M	183M	143.9M	119.9M
Inventory	140M	180.7M	184.4M	186.9M	163.8M	237.6M	243.9M	267.6M	258.8M	181.2M
Total current assets	481.4M	576.4M	549.4M	541.4M	545.8M	529.7M	592.6M	681.4M	594.5M	419.1M
Property, plant & equipment	23.3M	55.7M	65.9M	75.1M	60.3M	82.4M	122.1M	166.4M	171.9M	133.8M
Goodwill & intangibles	485.5M	1.1B	1B	1B	732.9M	605.8M	575.3M	549.7M	525.8M	509.6M
Total assets	898.7M	1.4B	1.3B	1.3B	1.2B	1.1B	1.2B	1.4B	1.4B	1.2B
Accounts payable	71.3M	108.4M	153.1M	134.8M	104.4M	173.9M	189.1M	156.6M	146.7M	145.7M
Short-term debt	3M	46.3M	2.2M	4.7M	4.5M	3.6M	6.1M	9M	11.8M	13.3M
Total current liabilities	166.6M	283.7M	271.7M	259.4M	235.8M	289.3M	347.5M	352.2M	308.4M	302.3M
Long-term debt	234.9M	505.1M	503.7M	455.8M	448M	428.3M	395.8M	396.5M	397.1M	442.9M
Total liabilities	426.3M	845.5M	830.5M	783.6M	756.6M	781.5M	805.4M	812.7M	1.2B	802.6M
Shareholders' equity	472.4M	506.1M	473.8M	521M	404.9M	325.5M	398.1M	550.1M	189.8M	368.5M
Total debt	237.8M	551.4M	505.9M	460.5M	452.5M	431.9M	401.9M	405.5M	408.9M	456.2M
Net debt	74.4M	359.9M	373.2M	319.9M	234.8M	360.1M	343.7M	226.2M	293.4M	424.2M

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	105.3M	179.3M	115.8M	77.3M	81.8M	115.5M	81M	57.4M	91.7M	31.9M	43.4M	71.5M
Receivables	—	—	—	—	—	—	—	—	147.2M	119.9M	159.2M	171.8M
Inventory	—	—	—	—	—	—	—	—	219.5M	181.2M	198.3M	192.3M
Total current assets	—	—	—	—	—	—	—	—	603.5M	419.1M	469.3M	491.8M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	133.8M	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	525.4M	509.6M	548.5M	543.1M
Total assets	—	—	—	—	—	—	—	—	1.3B	1.2B	1.2B	1.2B
Accounts payable	—	—	—	—	—	—	—	—	182.8M	145.7M	212.5M	244.2M
Short-term debt	—	—	—	—	—	—	—	—	13M	13.3M	10M	9.7M
Total current liabilities	—	—	—	—	—	—	—	—	447.2M	302.3M	352.7M	374.1M
Long-term debt	—	—	—	—	—	—	—	—	422.7M	442.9M	498M	513.2M
Total liabilities	—	—	—	—	—	—	—	—	929.8M	802.6M	907.4M	944.9M
Shareholders' equity	—	—	—	—	—	—	—	—	420M	368.5M	321.7M	293.9M
Total debt	—	—	—	—	—	—	—	—	435.7M	456.2M	508.1M	522.9M
Net debt	—	—	—	—	—	—	—	—	344M	424.2M	464.6M	451.4M

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	119.4M	111.4M	69.4M	89.6M	-97.4M	1.2M	112.8M	231.9M	-283.1M	211.6M
Depreciation & amortization	36.8M	35.1M	40.7M	42.4M	48M	48.8M	47M	45.3M	57M	58.7M
Stock-based compensation	12M	10.4M	10.2M	9M	4.5M	7.1M	9.7M	11.8M	11.3M	11.5M
Change in working capital	22.5M	10.1M	-58.9M	5.4M	88.1M	-158M	-85.3M	48.8M	47.9M	101.7M
Operating cash flow	196.6M	145.9M	59.5M	150.5M	44.9M	-110.3M	76.2M	323.5M	175.3M	11.7M
Capital expenditure	19K	10.9M	17.8M	785K	—	—	—	—	—	-24.7M
Investing cash flow	3M	-306.2M	38.6M	1.6M	17.1M	22M	1.8M	-7.9M	-22.6M	-92.7M
Dividends paid	0	-15.3M	-17.8M	-17.8M	-17.3M	-16.4M	-16M	-15.9M	-14.8M	-13.8M
Share repurchases	-79.6M	-74.5M	-58.4M	-33.7M	-18.9M	-66.7M	-34.3M	-76.2M	-70.9M	-33.8M
Financing cash flow	-182.3M	209.4M	-160M	-153.5M	-237.4M	-270.2M	-215.1M	-196.9M	-86.3M	-2.6M
Net change in cash	17.3M	49.2M	-61.9M	-1.5M	-175.4M	-358.4M	-137.1M	118.7M	66.5M	-83.6M
Free cash flow	158.4M	118.3M	78.5M	108.6M	104M	-56.6M	67M	221.5M	45.1M	-13M

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	55.5M	50.5M	18.3M	29.2M	-329.9M	-693K	231.2M	-9.6M	40M	-50M	-45.2M	-22.6M
Depreciation & amortization	—	—	—	—	—	—	—	—	14.6M	15M	15M	13.6M
Stock-based compensation	—	—	—	—	—	—	—	—	3.3M	2.6M	3.2M	1.9M
Change in working capital	—	—	—	—	—	—	—	—	75.5M	65.7M	-55.9M	-6.6M
Operating cash flow	55.5M	50.5M	18.3M	29.2M	-329.9M	-693K	231.2M	-9.6M	85.2M	-57.4M	-33.7M	5.1M
Capital expenditure	—	—	—	—	—	—	—	—	-5.3M	-4.5M	-3.4M	-2.1M
Investing cash flow	—	—	—	—	—	—	—	—	-26.5M	-18.4M	-4.3M	11.4M
Dividends paid	—	—	—	—	—	—	—	—	-3.3M	-3.2M	-3.5M	-3.3M
Share repurchases	—	—	—	—	—	—	—	—	-6.2M	-666K	0	0
Financing cash flow	—	—	—	—	—	—	—	—	-24.5M	16.1M	-6.8M	-65.5M
Net change in cash	55.5M	50.5M	18.3M	29.2M	-329.9M	-693K	231.2M	-9.6M	34.3M	-59.8M	-44.8M	-49M
Free cash flow	—	—	—	—	—	—	—	—	79.9M	-61.9M	-37.1M	3.1M

Wabash National 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