WNC · Wabash National 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.54B | $1.95B | $2.54B | $2.50B | $1.80B | $1.48B |
| Cost of Revenue | $1.47B | $1.68B | $2.04B | $2.18B | $1.61B | $1.32B |
| Gross Profit | $69.91M | $265.07M | $498.19M | $322.69M | $196.47M | $159.75M |
| R&D | $5.90M | $8.60M | $7.50M | $5.30M | $13.60M | $21.90M |
| SG&A | - | $621.18M | $146.66M | $113.08M | $88.81M | $92.74M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $58.73M | $56.98M | $45.32M | $46.97M | $48.84M | $47.97M |
| Operating Income | $307.50M | ($356.10M) | $311.95M | $166.64M | $33.54M | ($85.61M) |
| Interest Expense | $21.32M | $19.84M | $19.85M | $20.52M | $23.13M | $24.19M |
| Income Tax | $71.52M | ($93.52M) | $62.83M | $33.66M | $126.0K | ($11.80M) |
| Net Income | $211.45M | ($284.07M) | $231.25M | $112.26M | $1.16M | ($97.41M) |
| EPS - Basic | $5.09 | ($6.40) | $4.92 | $2.31 | $0.02 | ($1.84) |
| EPS - Diluted | $5.07 | ($6.40) | $4.81 | $2.25 | $0.02 | ($1.84) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $31.92M | $115.48M | $179.27M | $58.24M | $71.78M | $217.68M |
| Accounts Receivable | $119.87M | $143.95M | $182.99M | $255.58M | $176.51M | $101.30M |
| Inventory | $181.15M | $258.82M | $267.63M | $243.87M | $237.62M | $163.75M |
| Accounts Payable | $145.74M | $146.74M | $156.61M | $189.14M | $173.95M | $104.42M |
| Current Assets | $419.09M | $594.49M | $681.35M | $592.62M | $529.71M | $545.76M |
| Total Assets | $1.17B | $1.41B | $1.36B | $1.20B | $1.11B | $1.16B |
| Current Liabilities | $302.30M | $308.41M | $352.21M | $347.47M | $289.32M | $235.75M |
| Long-term Debt | $442.85M | $397.14M | $396.46M | $395.82M | $428.31M | $447.98M |
| Total Liabilities | $802.64M | $1.22B | $812.72M | $805.40M | $781.53M | $756.59M |
| Stockholders' Equity | $367.36M | $188.83M | $549.50M | $397.61M | $325.54M | $404.88M |
| Retained Earnings | $303.62M | $105.63M | $403.92M | $188.24M | $92.11M | $107.23M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.67M | $117.27M | $319.61M | $124.08M | ($7.47M) | $124.13M |
| Investing Cash Flow | ($92.68M) | ($94.79M) | ($106.04M) | ($55.30M) | ($27.08M) | ($3.02M) |
| Financing Cash Flow | ($2.54M) | ($86.27M) | ($92.54M) | ($82.31M) | ($111.35M) | ($43.96M) |
| CapEx | $24.71M | $72.19M | $98.09M | $57.09M | $49.10M | $20.13M |
| Free Cash Flow | ($13.04M) | $45.08M | $221.51M | $67.00M | ($56.58M) | $104.00M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 4.5% | 13.6% | 19.6% | 12.9% | 10.9% | 10.8% |
| Operating margin | 19.9% | -18.3% | 12.3% | 6.7% | 1.9% | -5.8% |
| EBITDA margin | 23.7% | -15.4% | 14.1% | 8.5% | 4.6% | -2.5% |
| Net margin | 13.7% | -14.6% | 9.1% | 4.5% | 0.1% | -6.6% |
| Free cash flow margin | -0.8% | 2.3% | 8.7% | 2.7% | -3.1% | 7.0% |
| FCF / Net income | -0.06 | -0.16 | 0.96 | 0.60 | -48.60 | -1.07 |
| R&D / Revenue | 0.4% | 0.4% | 0.3% | 0.2% | 0.8% | 1.5% |
| SG&A / Revenue | - | 31.9% | 5.8% | 4.5% | 4.9% | 6.3% |
| Effective tax rate | 25.3% | - | 21.4% | 23.1% | 9.8% | - |
| Return on assets | 18.1% | -20.1% | 17.0% | 9.3% | 0.1% | -8.4% |
| Return on equity | 57.6% | -150.4% | 42.1% | 28.2% | 0.4% | -24.1% |
| Return on invested capital | 28.4% | -48.0% | 25.9% | 16.2% | 4.0% | -7.9% |
| Liquidity | ||||||
| Current ratio | 1.39 | 1.93 | 1.93 | 1.71 | 1.83 | 2.31 |
| Quick ratio | 0.79 | 1.09 | 1.17 | 1.00 | 1.01 | 1.62 |
| Cash ratio | 0.11 | 0.37 | 0.51 | 0.17 | 0.25 | 0.92 |
| Leverage | ||||||
| Debt / Equity | 1.21 | 2.10 | 0.72 | 1.00 | 1.32 | 1.11 |
| Debt / Assets | 0.38 | 0.28 | 0.29 | 0.33 | 0.39 | 0.39 |
| Debt / EBITDA | 1.21 | - | 1.11 | 1.85 | 5.20 | - |
| Interest coverage | 14.4x | -17.9x | 15.7x | 8.1x | 1.5x | -3.5x |
| Equity multiplier | 3.19 | 7.48 | 2.48 | 3.03 | 3.40 | 2.87 |
| Liabilities / Assets | 0.69 | 0.87 | 0.60 | 0.67 | 0.71 | 0.65 |
| Efficiency | ||||||
| Asset turnover | 1.32 | 1.38 | 1.86 | 2.08 | 1.63 | 1.28 |
| Inventory turnover | 8.13 | 6.50 | 7.62 | 8.94 | 6.76 | 8.07 |
| Days sales outstanding | 28d | 27d | 26d | 37d | 36d | 25d |
| Days inventory outstanding | 45d | 56d | 48d | 41d | 54d | 45d |
| Days payable outstanding | 36d | 32d | 28d | 32d | 40d | 29d |
| Cash conversion cycle | 37d | 51d | 46d | 46d | 50d | 41d |
| Valuation | ||||||
| P / E | 1.7x | - | 5.3x | 10.0x | 976.0x | - |
| P / B | 1.0x | 4.0x | 2.2x | 2.8x | 3.1x | 2.3x |
| P / S | 0.2x | 0.4x | 0.5x | 0.5x | 0.6x | 0.6x |
| EV / EBITDA | 2.1x | - | 4.1x | 6.9x | 16.6x | - |
| Growth | ||||||
| Revenue growth (YoY) | -20.8% | -23.3% | 1.4% | 38.8% | 21.7% | -36.1% |
| Revenue CAGR (3y) | -14.9% | 2.6% | 19.6% | 2.6% | -0.8% | -5.7% |
| Revenue CAGR (5y) | 0.8% | -3.4% | 6.6% | 7.2% | -0.5% | -6.1% |
| Gross profit growth (YoY) | -73.6% | -46.8% | 54.4% | 64.2% | 23.0% | -47.9% |
| Operating income growth (YoY) | - | - | 87.2% | 396.8% | - | - |
| Net income growth (YoY) | - | - | 106.0% | 9544.2% | - | - |
| EPS growth (YoY) | - | - | 113.8% | 11150.0% | - | - |
| EPS CAGR (3y) | 31.1% | - | - | 11.6% | -74.4% | - |
| EPS CAGR (5y) | - | - | 32.2% | 4.8% | -59.4% | - |
| FCF growth (YoY) | - | -79.6% | 230.6% | - | - | -4.3% |
| FCF CAGR (5y) | - | -16.1% | 23.1% | -15.2% | - | -1.3% |
| Book value growth (YoY) | 94.5% | -65.6% | 38.2% | 22.1% | -19.6% | -22.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.54B totalTransportation Solutions Segment$1.31B · 84.7%
Parts Service Segment$236.02M · 15.3%
Product / service
$1.48B totalNew Trailers$1.05B · 70.8%
Equipmentand Other$298.70M · 20.2%
Components Partsand Services$127.34M · 8.6%
Used Trailers$4.57M · 0.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.61
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Dividends
$0.32/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Apr 2, 2026 | $0.0800 |
| Jan 8, 2026 | $0.0800 |
| Oct 2, 2025 | $0.0800 |
| Jul 3, 2025 | $0.0800 |
| Apr 3, 2025 | $0.0800 |
| Jan 10, 2025 | $0.0800 |
| Oct 10, 2024 | $0.0800 |
| Jul 3, 2024 | $0.0800 |
| Apr 3, 2024 | $0.0800 |
| Jan 3, 2024 | $0.0800 |
| Oct 4, 2023 | $0.0800 |
| Jul 5, 2023 | $0.0800 |
| Apr 5, 2023 | $0.0800 |
| Jan 4, 2023 | $0.0800 |
| Oct 5, 2022 | $0.0800 |
| Jul 6, 2022 | $0.0800 |
| Apr 6, 2022 | $0.0800 |
| Jan 5, 2022 | $0.0800 |
| Oct 6, 2021 | $0.0800 |
| Jul 7, 2021 | $0.0800 |
| Apr 7, 2021 | $0.0800 |
| Jan 6, 2021 | $0.0800 |
| Sep 30, 2020 | $0.0800 |
| Jul 1, 2020 | $0.0800 |