Wabash Natl Corp Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Wabash Natl Corp has an operating margin of -18.3%, meaning the company retains $-18 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 12.3% the prior year.
Wabash Natl Corp's revenue declined 23.3% year-over-year, from $2.5B to $1.9B. This contraction results in a growth score of 0/100.
Wabash Natl Corp has a moderate D/E ratio of 2.10. This balance of debt and equity financing earns a leverage score of 33/100.
Wabash Natl Corp's current ratio of 1.93 indicates adequate short-term liquidity, earning a score of 57/100. The company can meet its near-term obligations, though with limited headroom.
Wabash Natl Corp's free cash flow margin of 2.3% results in a low score of 12/100. Capital expenditures of $72.2M absorb a large share of operating cash flow.
Wabash Natl Corp passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Wabash Natl Corp generates $-0.41 in operating cash flow ($117.3M OCF vs -$284.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Wabash Natl Corp earns $-17.9 in operating income for every $1 of interest expense (-$356.1M vs $19.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Wabash Natl Corp (WNC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
Wabash Natl Corp generated $1.9B in revenue in fiscal year 2024. This represents a decrease of 23.3% from the prior year.
Wabash Natl Corp's EBITDA was -$299.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 183.7% from the prior year.
Wabash Natl Corp generated $45.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 79.6% from the prior year.
Wabash Natl Corp reported -$284.1M in net income in fiscal year 2024. This represents a decrease of 222.8% from the prior year.
Wabash Natl Corp earned $-6.40 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 233.1% from the prior year.
Wabash Natl Corp held $115.5M in cash against $397.1M in long-term debt as of fiscal year 2024.
Wabash Natl Corp paid $0.32 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Wabash Natl Corp had 42M shares outstanding in fiscal year 2024. This represents a decrease of 6.5% from the prior year.
Wabash Natl Corp's gross margin was 13.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 6.0 percentage points from the prior year.
Wabash Natl Corp's operating margin was -18.3% in fiscal year 2024, reflecting core business profitability. This is down 30.6 percentage points from the prior year.
Wabash Natl Corp's net profit margin was -14.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 23.7 percentage points from the prior year.
Wabash Natl Corp invested $8.6M in research and development in fiscal year 2024. This represents an increase of 14.7% from the prior year.
Wabash Natl Corp spent $70.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 6.9% from the prior year.
Wabash Natl Corp invested $72.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 26.4% from the prior year.
WNC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $381.6M-16.8% | $458.8M+20.5% | $380.9M-8.6% | $416.8M-10.2% | $464.0M-15.7% | $550.6M+6.9% | $515.3M-13.6% | $596.1M |
| Cost of Revenue | $365.9M-12.3% | $417.4M+15.3% | $361.9M-3.2% | $373.9M-8.4% | $408.0M-11.5% | $461.0M+5.0% | $438.8M-10.1% | $487.9M |
| Gross Profit | $15.7M-62.1% | $41.4M+117.9% | $19.0M-55.8% | $43.0M-23.3% | $56.0M-37.5% | $89.7M+17.3% | $76.4M-29.4% | $108.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | $71.5M-85.1% | $479.1M+1310.3% | $34.0M-7.4% | $36.7M-52.4% | $77.0M |
| Operating Income | $57.6M+1313.3% | -$4.8M-101.5% | $314.6M+8671.6% | $3.6M+100.8% | -$433.0M-1089.5% | $43.8M+48.0% | $29.6M-51.6% | $61.1M |
| Interest Expense | $5.4M+1.2% | $5.3M+5.6% | $5.0M+1.6% | $4.9M-0.3% | $5.0M+0.2% | $4.9M-0.8% | $5.0M+1.0% | $4.9M |
| Income Tax | $11.6M+532.0% | -$2.7M-103.4% | $78.1M+6071.0% | -$1.3M+98.8% | -$108.4M-1209.8% | $9.8M+52.1% | $6.4M-1.8% | $6.5M |
| Net Income | $40.0M+516.9% | -$9.6M-104.2% | $230.9M+22521.5% | -$1.0M+99.7% | -$330.2M-1240.2% | $29.0M+59.4% | $18.2M-63.9% | $50.4M |
| EPS (Diluted) | $0.97+521.7% | $-0.23-104.3% | $5.36+26900.0% | $-0.02+99.7% | $-7.53-1276.6% | $0.64+64.1% | $0.39-63.6% | $1.07 |
WNC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B-1.9% | $1.4B-2.8% | $1.4B+0.3% | $1.4B-3.0% | $1.5B+8.7% | $1.3B-2.8% | $1.4B+1.2% | $1.4B |
| Current Assets | $603.5M-3.3% | $623.9M-5.1% | $657.6M+10.6% | $594.5M-7.0% | $639.5M-0.7% | $644.0M-6.3% | $687.5M+0.9% | $681.4M |
| Cash & Equivalents | $91.7M+59.6% | $57.4M-29.1% | $81.0M-29.8% | $115.5M+41.1% | $81.8M+5.9% | $77.3M-33.3% | $115.8M-35.4% | $179.3M |
| Inventory | $219.5M-13.1% | $252.5M-9.4% | $278.6M+7.7% | $258.8M-0.7% | $260.6M-4.5% | $272.9M-2.0% | $278.6M+4.1% | $267.6M |
| Accounts Receivable | $147.2M-22.4% | $189.7M+10.5% | $171.7M+19.3% | $143.9M-39.7% | $238.7M-1.9% | $243.2M-1.8% | $247.7M+35.4% | $183.0M |
| Goodwill | $196.6M0.0% | $196.7M0.0% | $196.7M+4.4% | $188.4M0.0% | $188.4M0.0% | $188.4M0.0% | $188.4M0.0% | $188.4M |
| Total Liabilities | $929.8M-6.0% | $989.6M-2.0% | $1.0B-17.3% | $1.2B-2.6% | $1.3B+59.1% | $788.5M-5.3% | $832.3M+2.4% | $812.7M |
| Current Liabilities | $447.2M+20.1% | $372.4M-10.3% | $415.4M+34.7% | $308.4M-9.1% | $339.3M+4.9% | $323.4M-12.3% | $368.6M+4.7% | $352.2M |
| Long-Term Debt | $422.7M-3.4% | $437.5M+4.8% | $417.3M+5.1% | $397.1M0.0% | $397.0M0.0% | $396.8M0.0% | $396.6M0.0% | $396.5M |
| Total Equity | $418.7M+8.7% | $385.2M-4.6% | $403.8M+113.9% | $188.8M-5.8% | $200.5M-63.6% | $550.4M+0.8% | $546.1M-0.6% | $549.5M |
| Retained Earnings | $357.0M+11.5% | $320.3M-3.8% | $333.1M+215.3% | $105.6M-4.0% | $110.0M-75.2% | $443.7M+5.9% | $418.9M+3.7% | $403.9M |
WNC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $85.2M+638.1% | -$15.8M-5721.3% | -$272K-100.3% | $80.9M+89.1% | $42.8M+288.1% | $11.0M+163.3% | -$17.4M-115.1% | $115.0M |
| Capital Expenditures | $5.3M-15.2% | $6.2M-28.4% | $8.7M-59.3% | $21.3M+46.7% | $14.6M-14.9% | $17.1M-10.9% | $19.2M+47.3% | $13.0M |
| Free Cash Flow | $79.9M+462.3% | -$22.1M-145.9% | -$9.0M-115.1% | $59.5M+111.0% | $28.2M+564.1% | -$6.1M+83.4% | -$36.6M-135.9% | $102.0M |
| Investing Cash Flow | -$26.5M-89.6% | -$14.0M+58.7% | -$33.8M+3.8% | -$35.2M-116.4% | -$16.2M+32.9% | -$24.2M-26.2% | -$19.2M-12.8% | -$17.0M |
| Financing Cash Flow | -$24.5M-495.3% | $6.2M+1828.8% | -$358K+97.0% | -$12.1M+45.0% | -$22.0M+13.2% | -$25.3M+5.8% | -$26.9M-12.0% | -$24.0M |
| Dividends Paid | $3.3M-2.9% | $3.4M-12.3% | $3.9M+11.4% | $3.5M-1.8% | $3.5M-2.5% | $3.6M-12.7% | $4.2M+12.1% | $3.7M |
| Share Buybacks | $6.2M-40.7% | $10.4M-36.8% | $16.5M+91.0% | $8.6M-53.1% | $18.4M-15.0% | $21.7M-2.0% | $22.1M+9.0% | $20.3M |
WNC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 4.1%-4.9pp | 9.0%+4.0pp | 5.0%-5.3pp | 10.3%-1.8pp | 12.1%-4.2pp | 16.3%+1.4pp | 14.8%-3.3pp | 18.2% |
| Operating Margin | 15.1%+16.2pp | -1.0%-83.6pp | 82.6%+81.7pp | 0.9%+94.2pp | -93.3%-101.3pp | 8.0%+2.2pp | 5.7%-4.5pp | 10.3% |
| Net Margin | 10.5%+12.6pp | -2.1%-62.7pp | 60.6%+60.9pp | -0.3%+70.9pp | -71.2%-76.4pp | 5.3%+1.7pp | 3.5%-4.9pp | 8.5% |
| Return on Equity | 9.6% | N/A | 57.2% | N/A | N/A | 5.3%+1.9pp | 3.3%-5.8pp | 9.2% |
| Return on Assets | 3.0%+3.7pp | -0.7%-17.0pp | 16.3%+16.4pp | -0.1%+22.6pp | -22.7%-24.9pp | 2.2%+0.8pp | 1.3%-2.4pp | 3.7% |
| Current Ratio | 1.35-0.3 | 1.68+0.1 | 1.58-0.3 | 1.93+0.0 | 1.88-0.1 | 1.99+0.1 | 1.87-0.1 | 1.93 |
| Debt-to-Equity | 1.01-0.1 | 1.14+0.1 | 1.03-1.1 | 2.10+0.1 | 1.98+1.3 | 0.720.0 | 0.730.0 | 0.72 |
| FCF Margin | 20.9%+25.8pp | -4.8%-2.4pp | -2.4%-16.6pp | 14.3%+8.2pp | 6.1%+7.2pp | -1.1%+6.0pp | -7.1%-24.2pp | 17.1% |
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Frequently Asked Questions
What is Wabash Natl Corp's annual revenue?
Wabash Natl Corp (WNC) reported $1.9B in total revenue for fiscal year 2024. This represents a -23.3% 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 Wabash Natl Corp's revenue growing?
Wabash Natl Corp (WNC) revenue declined by 23.3% year-over-year, from $2.5B to $1.9B in fiscal year 2024.
Is Wabash Natl Corp profitable?
No, Wabash Natl Corp (WNC) reported a net income of -$284.1M in fiscal year 2024, with a net profit margin of -14.6%.
What is Wabash Natl Corp's earnings per share (EPS)?
Wabash Natl Corp (WNC) reported diluted earnings per share of $-6.40 for fiscal year 2024. This represents a -233.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Wabash Natl Corp's EBITDA?
Wabash Natl Corp (WNC) had EBITDA of -$299.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Wabash Natl Corp have?
As of fiscal year 2024, Wabash Natl Corp (WNC) had $115.5M in cash and equivalents against $397.1M in long-term debt.
What is Wabash Natl Corp's gross margin?
Wabash Natl Corp (WNC) had a gross margin of 13.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wabash Natl Corp's operating margin?
Wabash Natl Corp (WNC) had an operating margin of -18.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Wabash Natl Corp's net profit margin?
Wabash Natl Corp (WNC) had a net profit margin of -14.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Wabash Natl Corp pay dividends?
Yes, Wabash Natl Corp (WNC) paid $0.32 per share in dividends during fiscal year 2024.
What is Wabash Natl Corp's free cash flow?
Wabash Natl Corp (WNC) generated $45.1M in free cash flow during fiscal year 2024. This represents a -79.6% 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 Wabash Natl Corp's operating cash flow?
Wabash Natl Corp (WNC) generated $117.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Wabash Natl Corp's total assets?
Wabash Natl Corp (WNC) had $1.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Wabash Natl Corp's capital expenditures?
Wabash Natl Corp (WNC) invested $72.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Wabash Natl Corp spend on research and development?
Wabash Natl Corp (WNC) invested $8.6M in research and development during fiscal year 2024.
Does Wabash Natl Corp buy back shares?
Yes, Wabash Natl Corp (WNC) spent $70.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Wabash Natl Corp have outstanding?
Wabash Natl Corp (WNC) had 42M shares outstanding as of fiscal year 2024.
What is Wabash Natl Corp's current ratio?
Wabash Natl Corp (WNC) had a current ratio of 1.93 as of fiscal year 2024, which is generally considered healthy.
What is Wabash Natl Corp's debt-to-equity ratio?
Wabash Natl Corp (WNC) had a debt-to-equity ratio of 2.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Wabash Natl Corp's return on assets (ROA)?
Wabash Natl Corp (WNC) had a return on assets of -20.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Wabash Natl Corp's Piotroski F-Score?
Wabash Natl Corp (WNC) has a Piotroski F-Score of 4 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 Wabash Natl Corp's earnings high quality?
Wabash Natl Corp (WNC) has an earnings quality ratio of -0.41x, considered mixed 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 Wabash Natl Corp cover its interest payments?
Wabash Natl Corp (WNC) has an interest coverage ratio of -17.9x, meaning it can struggle to 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 Wabash Natl Corp?
Wabash Natl Corp (WNC) scores 20 out of 100 on our Financial Profile, indicating weak 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.