WAB · Westinghouse Air Brake Technologies Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.95B | - | $2.89B | $2.71B | $2.61B | - | $2.66B | $2.64B | $2.50B | - |
| Cost of Revenue | $1.89B | - | $1.88B | $1.77B | $1.71B | - | $1.78B | $1.77B | $1.68B | - |
| Gross Profit | $1.06B | - | $1.00B | $938.00M | $900.00M | - | $880.00M | $874.00M | $815.00M | - |
| R&D | $56.00M | - | $59.00M | $50.00M | $46.00M | - | $50.00M | $57.00M | $48.00M | - |
| SG&A | $401.00M | - | $375.00M | $347.00M | $307.00M | - | $318.00M | $316.00M | $281.00M | - |
| Total Operating Expenses | $544.00M | - | $511.00M | $466.00M | $426.00M | - | $447.00M | $444.00M | $403.00M | - |
| D&A | $139.00M | - | $128.00M | $118.00M | $120.00M | - | - | - | $123.00M | - |
| Operating Income | $517.00M | - | $491.00M | $472.00M | $474.00M | - | $433.00M | $430.00M | $412.00M | - |
| Interest Expense | $71.00M | - | $52.00M | $46.00M | $47.00M | - | - | - | - | - |
| Income Tax | $106.00M | - | $112.00M | $111.00M | $99.00M | - | $92.00M | $94.00M | $86.00M | - |
| Net Income | $362.00M | - | $310.00M | $336.00M | $322.00M | - | $283.00M | $289.00M | $272.00M | - |
| EPS - Basic | $2.12 | - | $1.81 | $1.96 | $1.88 | - | $1.63 | $1.64 | $1.54 | - |
| EPS - Diluted | $2.12 | - | $1.81 | $1.96 | $1.88 | - | $1.63 | $1.64 | $1.53 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $531.00M | $789.00M | $528.00M | $1.50B | $698.00M | $715.00M | $410.00M | $595.00M | $639.00M | $620.00M |
| Accounts Receivable | $1.78B | $1.41B | $1.66B | $1.44B | $1.39B | $1.15B | $1.23B | $1.27B | $997.00M | $1.16B |
| Inventory | $2.85B | $2.75B | $2.75B | $2.57B | $2.38B | $2.31B | $2.38B | $2.36B | $2.36B | $2.28B |
| Accounts Payable | $1.42B | $1.40B | $1.43B | $1.41B | $1.32B | $1.30B | $1.34B | $1.33B | $1.29B | $1.25B |
| Current Assets | $5.97B | $5.69B | $5.79B | $6.35B | $5.25B | $4.94B | $4.77B | $5.03B | $4.80B | $4.86B |
| Total Assets | $23.20B | $22.07B | $21.53B | $20.39B | $19.10B | $18.70B | $18.64B | $18.88B | $18.75B | $18.99B |
| Current Liabilities | $5.83B | $5.15B | $4.06B | $3.61B | $3.93B | $3.79B | $3.68B | $3.65B | $3.15B | $4.06B |
| Long-term Debt | $4.71B | $4.29B | $5.03B | $4.78B | $3.50B | $3.48B | $3.52B | $3.49B | $4.00B | $3.29B |
| Total Liabilities | $12.04B | $10.88B | $10.43B | $9.55B | $8.68B | $8.57B | $8.35B | $8.36B | $8.24B | $8.46B |
| Stockholders' Equity | $11.10B | $11.14B | $11.05B | $10.80B | $10.37B | $10.09B | $10.25B | $10.48B | $10.46B | $10.49B |
| Retained Earnings | $4.19B | $3.88B | $3.72B | $3.45B | $3.16B | $6.18B | $6.01B | $5.76B | $5.50B | $5.27B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $199.00M | - | - | - | $191.00M | - | - | - | $334.00M | - |
| Investing Cash Flow | ($1.10B) | - | - | - | ($44.00M) | - | - | - | ($19.00M) | - |
| Financing Cash Flow | $656.00M | - | - | - | ($172.00M) | - | - | - | ($289.00M) | - |
| CapEx | $46.00M | - | - | - | $44.00M | - | - | - | $31.00M | - |
| Free Cash Flow | $153.00M | - | - | - | $147.00M | - | - | - | $303.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 36.0% | - | 34.7% | 34.7% | 34.5% | - | 33.0% | 33.1% | 32.6% | - |
| Operating margin | 17.5% | - | 17.0% | 17.4% | 18.2% | - | 16.3% | 16.3% | 16.5% | - |
| EBITDA margin | 22.2% | - | 21.4% | 21.8% | 22.8% | - | - | - | 21.4% | - |
| Net margin | 12.3% | - | 10.7% | 12.4% | 12.3% | - | 10.6% | 10.9% | 10.9% | - |
| Free cash flow margin | 5.2% | - | - | - | 5.6% | - | - | - | 12.1% | - |
| FCF / Net income | 0.42 | - | - | - | 0.46 | - | - | - | 1.11 | - |
| R&D / Revenue | 1.9% | - | 2.0% | 1.8% | 1.8% | - | 1.9% | 2.2% | 1.9% | - |
| SG&A / Revenue | 13.6% | - | 13.0% | 12.8% | 11.8% | - | 11.9% | 12.0% | 11.3% | - |
| Effective tax rate | 22.6% | - | 26.5% | 24.8% | 23.5% | - | 24.5% | 24.5% | 24.0% | - |
| Return on assets | 1.6% | - | 1.4% | 1.6% | 1.7% | - | 1.5% | 1.5% | 1.5% | - |
| Return on equity | 3.3% | - | 2.8% | 3.1% | 3.1% | - | 2.8% | 2.8% | 2.6% | - |
| Return on invested capital | 2.5% | - | 2.2% | 2.3% | 2.6% | - | 2.4% | 2.3% | 2.2% | - |
| Liquidity | ||||||||||
| Current ratio | 1.02 | 1.11 | 1.42 | 1.76 | 1.34 | 1.30 | 1.30 | 1.38 | 1.52 | 1.20 |
| Quick ratio | 0.54 | 0.57 | 0.75 | 1.05 | 0.73 | 0.69 | 0.65 | 0.73 | 0.77 | 0.63 |
| Cash ratio | 0.09 | 0.15 | 0.13 | 0.42 | 0.18 | 0.19 | 0.11 | 0.16 | 0.20 | 0.15 |
| Leverage | ||||||||||
| Debt / Equity | 0.42 | 0.39 | 0.46 | 0.44 | 0.34 | 0.34 | 0.34 | 0.33 | 0.38 | 0.31 |
| Debt / Assets | 0.20 | 0.19 | 0.23 | 0.23 | 0.18 | 0.19 | 0.19 | 0.19 | 0.21 | 0.17 |
| Debt / EBITDA | 7.18 | - | 8.13 | 8.11 | 5.90 | - | - | - | 7.47 | - |
| Interest coverage | 7.3x | - | 9.4x | 10.3x | 10.1x | - | - | - | - | - |
| Equity multiplier | 2.09 | 1.98 | 1.95 | 1.89 | 1.84 | 1.85 | 1.82 | 1.80 | 1.79 | 1.81 |
| Liabilities / Assets | 0.52 | 0.49 | 0.48 | 0.47 | 0.45 | 0.46 | 0.45 | 0.44 | 0.44 | 0.45 |
| Efficiency | ||||||||||
| Asset turnover | 0.13 | - | 0.13 | 0.13 | 0.14 | - | 0.14 | 0.14 | 0.13 | - |
| Inventory turnover | 0.66 | - | 0.69 | 0.69 | 0.72 | - | 0.75 | 0.75 | 0.71 | - |
| Days sales outstanding | 221d | - | 210d | 194d | 195d | - | 169d | 175d | 146d | - |
| Days inventory outstanding | 551d | - | 532d | 531d | 508d | - | 487d | 487d | 511d | - |
| Days payable outstanding | 275d | - | 277d | 290d | 283d | - | 274d | 274d | 280d | - |
| Cash conversion cycle | 496d | - | 466d | 435d | 420d | - | 382d | 388d | 377d | - |
| Valuation | ||||||||||
| P / E | 117.9x | - | 110.8x | 106.8x | 96.5x | - | 111.5x | 96.4x | 95.2x | - |
| P / B | 3.8x | - | 3.1x | 3.3x | 3.0x | - | 3.1x | 2.7x | 2.5x | - |
| P / S | 14.5x | - | 11.9x | 13.2x | 11.9x | - | 11.9x | 10.5x | 10.3x | - |
| EV / EBITDA | 71.4x | - | 62.7x | 66.3x | 57.0x | - | - | - | 54.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 13.0% | - | 8.4% | 2.3% | 4.5% | - | 4.4% | 9.8% | 13.8% | - |
| Revenue CAGR (3y) | 10.4% | - | 11.5% | 9.7% | 10.6% | - | 11.8% | 9.5% | 10.9% | - |
| Revenue CAGR (5y) | 10.0% | - | 9.1% | 9.3% | 6.2% | - | 5.9% | 3.4% | 9.4% | - |
| Gross profit growth (YoY) | 17.9% | - | 13.9% | 7.3% | 10.4% | - | 11.1% | 20.9% | 22.6% | - |
| Operating income growth (YoY) | 9.1% | - | 13.4% | 9.8% | 15.0% | - | 17.0% | 37.8% | 49.3% | - |
| Net income growth (YoY) | 12.4% | - | 9.5% | 16.3% | 18.4% | - | 17.9% | 51.3% | 60.9% | - |
| EPS growth (YoY) | 12.8% | - | 11.0% | 19.5% | 22.9% | - | 22.6% | 54.7% | 64.5% | - |
| EPS CAGR (3y) | 31.6% | - | 27.2% | 29.1% | 33.0% | - | 33.2% | 35.4% | 37.4% | - |
| EPS CAGR (5y) | 29.2% | - | 22.0% | 33.6% | 26.5% | - | 27.7% | 24.9% | - | - |
| FCF growth (YoY) | 4.1% | - | - | - | -51.5% | - | - | - | - | - |
| FCF CAGR (5y) | -10.5% | - | - | - | - | - | - | - | 184.8% | - |
| Book value growth (YoY) | 7.1% | 10.4% | 7.8% | 3.1% | -0.9% | -3.8% | -0.7% | 2.8% | 3.7% | 3.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$11.17B totalFreight Segment$8.04B · 72.0%
Transit Segment$3.13B · 28.0%
Product / service
$19.28B totalProduct$9.26B · 48.0%
Equipment$2.37B · 12.3%
Service$1.91B · 9.9%
Aftermarket$1.74B · 9.0%
Components$1.59B · 8.2%
OEM$1.39B · 7.2%
Digital Intelligence$1.03B · 5.3%
Geographic
$19.32B totalNorth America$6.19B · 32.1%
US$5.37B · 27.8%
Europe$1.96B · 10.1%
IN$699.00M · 3.6%
Other Europe$663.00M · 3.4%
CA$555.00M · 2.9%
South America$513.00M · 2.7%
Australia And New Zealand$453.00M · 2.3%
Kazakhstan Russia And CIS$431.00M · 2.2%
FR$419.00M · 2.2%
DE$379.00M · 2.0%
Africa$326.00M · 1.7%
GB$313.00M · 1.6%
Other Asia And Middle East$300.00M · 1.6%
CN$297.00M · 1.5%
MX$270.00M · 1.4%
IT$182.00M · 0.9%
Peer comparison
Same SIC group: Railroad Equipment
Comparing WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP against the 4 most active filers in the same SIC group.
Dividends
$1.12/share trailing 12 months · +24.4% YoY
| Ex-date | Per share |
|---|---|
| May 22, 2026 | $0.3100 |
| Feb 17, 2026 | $0.3100 |
| Nov 12, 2025 | $0.2500 |
| Aug 14, 2025 | $0.2500 |
| May 27, 2025 | $0.2500 |
| Feb 21, 2025 | $0.2500 |
| Nov 13, 2024 | $0.2000 |
| Aug 14, 2024 | $0.2000 |
| May 24, 2024 | $0.2000 |
| Feb 22, 2024 | $0.2000 |
| Nov 14, 2023 | $0.1700 |
| Aug 11, 2023 | $0.1700 |
| May 26, 2023 | $0.1700 |
| Feb 23, 2023 | $0.1700 |
| Nov 10, 2022 | $0.1500 |
| Aug 12, 2022 | $0.1500 |
| May 19, 2022 | $0.1500 |
| Feb 24, 2022 | $0.1500 |
| Nov 12, 2021 | $0.1200 |
| Aug 12, 2021 | $0.1200 |
| May 6, 2021 | $0.1200 |
| Feb 11, 2021 | $0.1200 |
| Nov 12, 2020 | $0.1200 |
| Aug 13, 2020 | $0.1200 |