This page shows Wabtec Corp. (WAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Wabtec Corp. has an operating margin of 16.1%, meaning the company retains $16 of operating profit per $100 of revenue. This results in a moderate score of 58/100, indicating healthy but not exceptional operating efficiency. This is up from 15.5% the prior year.
Wabtec Corp.'s revenue grew 7.5% year-over-year to $11.2B, a solid pace of expansion. This earns a growth score of 46/100.
Wabtec Corp. carries a low D/E ratio of 0.39, meaning only $0.39 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
Wabtec Corp.'s current ratio of 1.11 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 17/100, which could limit financial flexibility.
Wabtec Corp. has a free cash flow margin of 13.4%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.
Wabtec Corp.'s ROE of 10.5% shows moderate profitability relative to equity, earning a score of 34/100. This is up from 10.5% the prior year.
Wabtec Corp. scores 3.44, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($43.3B) relative to total liabilities ($10.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Wabtec Corp. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Wabtec Corp. generates $1.50 in operating cash flow ($1.8B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Wabtec Corp. earns $8.0 in operating income for every $1 of interest expense ($1.8B vs $225.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Wabtec Corp. generated $11.2B in revenue in fiscal year 2025. This represents an increase of 7.5% from the prior year.
Wabtec Corp.'s EBITDA was $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.6% from the prior year.
Wabtec Corp. reported $1.2B in net income in fiscal year 2025. This represents an increase of 10.8% from the prior year.
Wabtec Corp. earned $6.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.1% from the prior year.
Cash & Balance Sheet
Wabtec Corp. generated $1.5B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 7.9% from the prior year.
Wabtec Corp. held $789.0M in cash against $4.3B in long-term debt as of fiscal year 2025.
Wabtec Corp. paid $1.00 per share in dividends in fiscal year 2025. This represents an increase of 25.0% from the prior year.
Wabtec Corp. had 171M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.
Margins & Returns
Wabtec Corp.'s gross margin was 34.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Wabtec Corp.'s operating margin was 16.1% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.
Wabtec Corp.'s net profit margin was 10.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
Wabtec Corp.'s ROE was 10.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Capital Allocation
Wabtec Corp. invested $223.0M in research and development in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Wabtec Corp. spent $223.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 79.7% from the prior year.
Wabtec Corp. invested $260.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 25.6% from the prior year.
WAB Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B+2.7% | $2.9B+6.7% | $2.7B+3.7% | $2.6B+1.0% | $2.6B-3.0% | $2.7B+0.7% | $2.6B+5.9% | $2.5B |
| Cost of Revenue | $2.0B+6.1% | $1.9B+6.6% | $1.8B+3.4% | $1.7B-4.3% | $1.8B+0.2% | $1.8B+0.7% | $1.8B+5.2% | $1.7B |
| Gross Profit | $966.0M-3.6% | $1.0B+6.8% | $938.0M+4.2% | $900.0M+12.9% | $797.0M-9.4% | $880.0M+0.7% | $874.0M+7.2% | $815.0M |
| R&D Expenses | $68.0M+15.3% | $59.0M+18.0% | $50.0M+8.7% | $46.0M-9.8% | $51.0M+2.0% | $50.0M-12.3% | $57.0M+18.8% | $48.0M |
| SG&A Expenses | $461.0M+22.9% | $375.0M+8.1% | $347.0M+13.0% | $307.0M-7.8% | $333.0M+4.7% | $318.0M+0.6% | $316.0M+12.5% | $281.0M |
| Operating Income | $356.0M-27.5% | $491.0M+4.0% | $472.0M-0.4% | $474.0M+41.9% | $334.0M-22.9% | $433.0M+0.7% | $430.0M+4.4% | $412.0M |
| Interest Expense | $68.0M+4.6% | $65.0M+41.3% | $46.0M0.0% | $46.0M-13.2% | $53.0M+1.9% | $52.0M+6.1% | $49.0M+4.3% | $47.0M |
| Income Tax | $87.0M-22.3% | $112.0M+0.9% | $111.0M+12.1% | $99.0M+39.4% | $71.0M-22.8% | $92.0M-2.1% | $94.0M+9.3% | $86.0M |
| Net Income | $202.0M-34.8% | $310.0M-7.7% | $336.0M+4.3% | $322.0M+51.9% | $212.0M-25.1% | $283.0M-2.1% | $289.0M+6.3% | $272.0M |
| EPS (Diluted) | N/A | $1.81-7.7% | $1.96+4.3% | $1.88 | N/A | $1.63-0.6% | $1.64+7.2% | $1.53 |
WAB Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $22.1B+2.5% | $21.5B+5.6% | $20.4B+6.8% | $19.1B+2.1% | $18.7B+0.3% | $18.6B-1.2% | $18.9B+0.7% | $18.7B |
| Current Assets | $5.7B-1.6% | $5.8B-8.9% | $6.4B+20.9% | $5.3B+6.3% | $4.9B+3.5% | $4.8B-5.0% | $5.0B+4.8% | $4.8B |
| Cash & Equivalents | $789.0M+49.4% | $528.0M-64.8% | $1.5B+114.8% | $698.0M-2.4% | $715.0M+74.4% | $410.0M-31.1% | $595.0M-6.9% | $639.0M |
| Inventory | $2.7B-0.1% | $2.7B+6.8% | $2.6B+8.1% | $2.4B+2.8% | $2.3B-2.8% | $2.4B+0.7% | $2.4B+0.3% | $2.4B |
| Accounts Receivable | $1.4B-15.2% | $1.7B+15.3% | $1.4B+3.5% | $1.4B+20.8% | $1.2B-6.4% | $1.2B-3.0% | $1.3B+27.3% | $997.0M |
| Goodwill | $10.2B+3.7% | $9.9B+10.3% | $8.9B+1.7% | $8.8B+0.9% | $8.7B-0.9% | $8.8B+0.9% | $8.7B-0.3% | $8.7B |
| Total Liabilities | $10.9B+4.3% | $10.4B+9.3% | $9.5B+10.0% | $8.7B+1.3% | $8.6B+2.6% | $8.4B0.0% | $8.4B+1.4% | $8.2B |
| Current Liabilities | $5.2B+26.7% | $4.1B+12.7% | $3.6B-8.2% | $3.9B+3.6% | $3.8B+3.0% | $3.7B+0.9% | $3.6B+15.7% | $3.2B |
| Long-Term Debt | $4.3B-14.8% | $5.0B+5.2% | $4.8B+36.6% | $3.5B+0.7% | $3.5B-1.1% | $3.5B+0.7% | $3.5B-12.6% | $4.0B |
| Total Equity | $11.1B+0.9% | $11.0B+2.3% | $10.8B+4.2% | $10.4B+2.7% | $10.1B-1.6% | $10.3B-2.2% | $10.5B+0.1% | $10.5B |
| Retained Earnings | $3.9B+4.3% | $3.7B+7.7% | $3.5B+9.2% | $3.2B-48.9% | $6.2B+3.0% | $6.0B+4.3% | $5.8B+4.6% | $5.5B |
WAB Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $992.0M+170.3% | $367.0M+75.6% | $209.0M+9.4% | $191.0M-73.6% | $723.0M+33.4% | $542.0M+130.6% | $235.0M-29.6% | $334.0M |
| Capital Expenditures | $122.0M+121.8% | $55.0M+41.0% | $39.0M-11.4% | $44.0M-47.6% | $84.0M+82.6% | $46.0M0.0% | $46.0M+48.4% | $31.0M |
| Free Cash Flow | $870.0M+178.8% | $312.0M+83.5% | $170.0M+15.6% | $147.0M-77.0% | $639.0M+28.8% | $496.0M+162.4% | $189.0M-37.6% | $303.0M |
| Investing Cash Flow | -$860.0M+51.9% | -$1.8B-3213.0% | -$54.0M-22.7% | -$44.0M+81.4% | -$237.0M-383.7% | -$49.0M-28.9% | -$38.0M-100.0% | -$19.0M |
| Financing Cash Flow | $124.0M-72.6% | $453.0M-27.6% | $626.0M+464.0% | -$172.0M-6.2% | -$162.0M+76.4% | -$686.0M-193.2% | -$234.0M+19.0% | -$289.0M |
| Dividends Paid | $43.0M0.0% | $43.0M-2.3% | $44.0M+2.3% | $43.0M+26.5% | $34.0M-2.9% | $35.0M0.0% | $35.0M-2.8% | $36.0M |
| Share Buybacks | $75.0M | $0-100.0% | $50.0M-49.0% | $98.0M-20.3% | $123.0M-79.5% | $599.0M+199.5% | $200.0M+14.3% | $175.0M |
WAB Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.6%-2.1pp | 34.7%+0.1pp | 34.7%+0.2pp | 34.5%+3.6pp | 30.9%-2.2pp | 33.1%0.0pp | 33.1%+0.4pp | 32.6% |
| Operating Margin | 12.0%-5.0pp | 17.0%-0.4pp | 17.4%-0.7pp | 18.2%+5.2pp | 12.9%-3.3pp | 16.3%0.0pp | 16.3%-0.2pp | 16.5% |
| Net Margin | 6.8%-3.9pp | 10.7%-1.7pp | 12.4%+0.1pp | 12.3%+4.1pp | 8.2%-2.4pp | 10.6%-0.3pp | 10.9%+0.0pp | 10.9% |
| Return on Equity | 1.8%-1.0pp | 2.8%-0.3pp | 3.1%0.0pp | 3.1%+1.0pp | 2.1%-0.7pp | 2.8%0.0pp | 2.8%+0.2pp | 2.6% |
| Return on Assets | 0.9%-0.5pp | 1.4%-0.2pp | 1.7%-0.0pp | 1.7%+0.6pp | 1.1%-0.4pp | 1.5%0.0pp | 1.5%+0.1pp | 1.5% |
| Current Ratio | 1.11-0.3 | 1.42-0.3 | 1.76+0.4 | 1.34+0.0 | 1.300.0 | 1.30-0.1 | 1.38-0.1 | 1.52 |
| Debt-to-Equity | 0.39-0.1 | 0.46+0.0 | 0.44+0.1 | 0.340.0 | 0.340.0 | 0.340.0 | 0.33-0.0 | 0.38 |
| FCF Margin | 29.3%+18.5pp | 10.8%+4.5pp | 6.3%+0.6pp | 5.6%-19.1pp | 24.7%+6.1pp | 18.6%+11.5pp | 7.1%-5.0pp | 12.1% |
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Frequently Asked Questions
What is Wabtec Corp.'s annual revenue?
Wabtec Corp. (WAB) reported $11.2B in total revenue for fiscal year 2025. This represents a 7.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Wabtec Corp.'s revenue growing?
Wabtec Corp. (WAB) revenue grew by 7.5% year-over-year, from $10.4B to $11.2B in fiscal year 2025.
Is Wabtec Corp. profitable?
Yes, Wabtec Corp. (WAB) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 10.5%.
What is Wabtec Corp.'s EBITDA?
Wabtec Corp. (WAB) had EBITDA of $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Wabtec Corp. have?
As of fiscal year 2025, Wabtec Corp. (WAB) had $789.0M in cash and equivalents against $4.3B in long-term debt.
What is Wabtec Corp.'s gross margin?
Wabtec Corp. (WAB) had a gross margin of 34.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wabtec Corp.'s operating margin?
Wabtec Corp. (WAB) had an operating margin of 16.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Wabtec Corp.'s net profit margin?
Wabtec Corp. (WAB) had a net profit margin of 10.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Wabtec Corp. pay dividends?
Yes, Wabtec Corp. (WAB) paid $1.00 per share in dividends during fiscal year 2025.
What is Wabtec Corp.'s return on equity (ROE)?
Wabtec Corp. (WAB) has a return on equity of 10.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Wabtec Corp.'s free cash flow?
Wabtec Corp. (WAB) generated $1.5B in free cash flow during fiscal year 2025. This represents a -7.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Wabtec Corp.'s operating cash flow?
Wabtec Corp. (WAB) generated $1.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Wabtec Corp.'s total assets?
Wabtec Corp. (WAB) had $22.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Wabtec Corp.'s capital expenditures?
Wabtec Corp. (WAB) invested $260.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Wabtec Corp. spend on research and development?
Wabtec Corp. (WAB) invested $223.0M in research and development during fiscal year 2025.
What is Wabtec Corp.'s current ratio?
Wabtec Corp. (WAB) had a current ratio of 1.11 as of fiscal year 2025, which is considered adequate.
What is Wabtec Corp.'s debt-to-equity ratio?
Wabtec Corp. (WAB) had a debt-to-equity ratio of 0.39 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Wabtec Corp.'s return on assets (ROA)?
Wabtec Corp. (WAB) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Wabtec Corp.'s Altman Z-Score?
Wabtec Corp. (WAB) has an Altman Z-Score of 3.44, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Wabtec Corp.'s Piotroski F-Score?
Wabtec Corp. (WAB) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Wabtec Corp.'s earnings high quality?
Wabtec Corp. (WAB) has an earnings quality ratio of 1.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Wabtec Corp. cover its interest payments?
Wabtec Corp. (WAB) has an interest coverage ratio of 8.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Wabtec Corp.?
Wabtec Corp. (WAB) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.