What is Wabash National Corp.'s earnings per share (EPS)?

Wabash National Corp. (WNC) reported diluted earnings per share of $5.07 for fiscal year 2025. This represents a 179.2% 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.

Wabash National Corp. (WNC) Financials

WNC

Trailing 12 months to March 31, 2026

Revenue $1.5B -19.2% YoY

Net Income -$64.7M +9.3% YoY

EPS (Diluted) -$1.60 -3.2% YoY

Free Cash Flow -$41.2M -156.6% YoY

Market Cap $558.5M as of Oct 8, 2026

Price / Sales 0.4x on $1.5B revenue, trailing 12 months to March 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to March 31, 2026

Price / Book 1.7x on $320.6M equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 1, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WNC SEC filings page.

Wabash National Corp. (WNC) reported $1.5B in revenue over the twelve months to Mar 31, 2026, down 19.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI WNC FY2025 2026-10-03

Wabash’s reported profitability rebounded in FY2025 even as cash conversion weakened and leverage remained higher than before the downturn.

In FY2025, net income of $211M coexisted with operating cash flow of $12M, so reported earnings did not translate into cash. That reverses FY2023, when operating cash flow of $320M exceeded free cash flow of $222M, making the latest result a cash-conversion break rather than simply a smaller profit.

The profit rebound came despite gross margin falling from 13.6% in FY2024 to 4.5% in FY2025, while operating margin swung from -18.3% to 19.9%. That combination points to a major non-gross-profit operating item or mix effect, not broad improvement in the economics of the reported products.

Debt-to-equity increased from 0.7x in FY2023 to 1.2x in FY2025, reducing the equity cushion behind the business. The current ratio also declined from 1.9x to 1.4x, indicating less short-term balance-sheet flexibility as earnings became more volatile.

Financial Health Signals

Financial Health Score 37/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Wabash National Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Wabash National Corp. has an operating margin of 19.9%, meaning the company retains $20 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is up from -18.3% the prior year.

Growth

Wabash National Corp.'s revenue declined 20.8% year-over-year, from $1.9B to $1.5B. This contraction results in a growth score of 3/100.

Leverage

Wabash National Corp. has a moderate D/E ratio of 1.21. This balance of debt and equity financing earns a leverage score of 45/100.

Liquidity

Wabash National Corp.'s current ratio of 1.39 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Wabash National Corp. generated $11.7M in operating cash flow, capex of $24.7M consumed most of it, leaving -$13.0M in free cash flow. This results in a low score of 33/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Wabash National Corp.'s ROE of 57.6% shows moderate profitability relative to equity, earning a score of 60/100. This is up from -150.4% the prior year.

Altman Z-Score Safe

3.08

Wabash National Corp. scores 3.08, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Wabash National Corp. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.06x

For every $1 of reported earnings, Wabash National Corp. generates $0.06 in operating cash flow ($11.7M OCF vs $211.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

14.43x

Wabash National Corp. earns $14.43 in operating income for every $1 of interest expense ($307.5M vs $21.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$303.2M

YoY-20.4%

QoQ-5.7%

5Y CAGR-5.0%

10Y CAGR-3.8%

Wabash National Corp. generated $303.2M in revenue in Q1 2026. This represents a decrease of 20.4% from the same quarter a year earlier. Against the prior quarter it is down 5.7%.

EBITDA

-$37.3M

YoY-111.3%

Wabash National Corp.'s EBITDA was -$37.3M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 111.3% from the same quarter a year earlier.

Net Income

-$45.2M

YoY-119.6%

QoQ+9.4%

Wabash National Corp. reported -$45.2M in net income in Q1 2026. This represents a decrease of 119.6% from the same quarter a year earlier. Against the prior quarter it is up 9.4%.

EPS (Diluted)

-$1.11

YoY-120.7%

QoQ+9.8%

Wabash National Corp. earned -$1.11 per diluted share (EPS) in Q1 2026. This represents a decrease of 120.7% from the same quarter a year earlier. Against the prior quarter it is up 9.8%.

Cash & Balance Sheet

Free Cash Flow

-$37.1M

YoY-313.3%

QoQ+40.1%

Wabash National Corp. recorded an outflow of $37.1M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 313.3% from the same quarter a year earlier. Against the prior quarter it is up 40.1%.

Cash & Debt

$43.4M

YoY-46.4%

QoQ+36.0%

5Y CAGR-23.8%

10Y CAGR-12.7%

Wabash National Corp. held $43.4M in cash against $498.0M in long-term debt as of Q1 2026.

Dividends Per Share

$0.08

YoY0.0%

QoQ0.0%

5Y CAGR0.0%

Wabash National Corp. paid $0.08 per share in dividends in Q1 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

41M

YoY-2.9%

QoQ+0.6%

5Y CAGR-4.6%

10Y CAGR-4.6%

Wabash National Corp. had 41M shares outstanding in Q1 2026. This represents a decrease of 2.9% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.

Margins & Returns

Gross Margin

-3.5%

YoY-8.5pp

QoQ-1.6pp

5Y change-15.5pp

10Y change-21.3pp

Wabash National Corp.'s gross margin was -3.5% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 8.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.

Operating Margin

-17.3%

YoY-99.8pp

Wabash National Corp.'s operating margin was -17.3% in Q1 2026, reflecting core business profitability. This is down 99.8 percentage points from the same quarter a year earlier.

Net Margin

-14.9%

YoY-75.5pp

QoQ+0.6pp

5Y change-15.7pp

10Y change-21.1pp

Wabash National Corp.'s net profit margin was -14.9% in Q1 2026, showing the share of revenue converted to profit. This is down 75.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Return on Equity

-14.1%

YoY-71.3pp

QoQ-0.5pp

5Y change-14.9pp

10Y change-20.2pp

Wabash National Corp.'s ROE was -14.1% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 71.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.

Capital Allocation

Share Buybacks

YoY-100.0%

QoQ-100.0%

Wabash National Corp. repurchased no shares in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.

Capital Expenditures

$3.4M

YoY-60.6%

QoQ-24.0%

5Y CAGR-3.8%

10Y CAGR+1.4%

Wabash National Corp. invested $3.4M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 60.6% from the same quarter a year earlier. Against the prior quarter it is down 24.0%.

R&D Spending

Not reported for Q1 2026.

WNC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.5B	$1.5B-20.8%	$1.9B-23.3%	$2.5B+1.4%	$2.5B+38.8%	$1.8B+21.7%	$1.5B-36.1%	$2.3B+2.3%	$2.3B+28.3%	$1.8B-4.2%	$1.8B-9.0%	$2.0B+8.8%	$1.9B+13.9%	$1.6B+11.9%	$1.5B+23.1%	$1.2B
Cost of Revenue	N/A	$1.5B-12.4%	$1.7B-17.5%	$2.0B-6.5%	$2.2B+35.6%	$1.6B+21.5%	$1.3B-34.3%	$2.0B+1.5%	$2.0B+31.7%	$1.5B-0.9%	$1.5B-11.8%	$1.7B+5.7%	$1.6B+14.8%	$1.4B+9.4%	$1.3B+15.8%	$1.1B
Gross Profit	$40.3M	$69.9M-73.6%	$265.1M-46.8%	$498.2M+54.4%	$322.7M+64.2%	$196.5M+23.0%	$159.8M-47.9%	$306.4M+8.0%	$283.7M+8.7%	$260.9M-19.9%	$325.5M+7.3%	$303.4M+30.4%	$232.6M+8.1%	$215.1M+31.3%	$163.8M+145.5%	$66.7M
R&D Expenses	N/A	$5.9M-31.4%	$8.6M+14.7%	$7.5M+41.5%	$5.3M-61.0%	$13.6M-37.9%	$21.9M+12.3%	$19.5M+121.6%	$8.8M+125.6%	$3.9M-39.1%	$6.4M+33.3%	$4.8M+182.4%	$1.7M-32.0%	$2.5M+47.1%	$1.7M+70.0%	$1.0M
SG&A Expenses	N/A	$9.2M-98.5%	$621.2M+233.5%	$186.2M+19.3%	$156.0M+75.7%	$88.8M-4.2%	$92.7M-14.3%	$108.3M+13.8%	$95.1M+22.2%	$77.8M+5.0%	$74.1M+0.9%	$73.5M+19.1%	$61.7M+5.2%	$58.7M+31.1%	$44.8M+44.4%	$31.0M
Operating Income	N/A	$307.5M+186.4%	-$356.1M-214.2%	$311.9M+87.2%	$166.6M+396.8%	$33.5M+139.2%	-$85.6M-160.0%	$142.8M+28.7%	$111.0M-15.2%	$130.8M-35.4%	$202.5M+12.3%	$180.4M+47.4%	$122.4M+18.6%	$103.2M+46.4%	$70.5M+256.2%	$19.8M
EBITDA	N/A	$366.2M+222.4%	-$299.1M-183.7%	$357.3M+67.3%	$213.6M+159.3%	$82.4M+318.9%	-$37.6M-120.3%	$185.1M+22.1%	$151.7M-8.6%	$165.9M-30.7%	$239.3M+9.6%	$218.4M+35.5%	$161.2M+13.9%	$141.5M+47.3%	$96.0M+171.5%	$35.4M
Interest Expense	N/A	$21.3M+7.4%	$19.8M-0.1%	$19.9M-3.3%	$20.5M-11.3%	$23.1M-4.4%	$24.2M-11.5%	$27.3M-4.9%	$28.8M+75.4%	$16.4M+4.7%	$15.7M-19.9%	$19.5M-11.8%	$22.2M-15.7%	$26.3M+21.1%	$21.7M+425.2%	$4.1M
Income Tax	N/A	$71.5M+176.5%	-$93.5M-248.9%	$62.8M+86.6%	$33.7M+26618.3%	$126K+101.1%	-$11.8M-141.9%	$28.2M+5.9%	$26.6M+139.1%	$11.1M-83.2%	$66.0M+11.8%	$59.0M+57.3%	$37.5M+20.7%	$31.1M+154.6%	-$57.0M-33414.6%	$171K
Net Income	-$64.7M	$211.5M+174.4%	-$284.1M-222.8%	$231.3M+106.0%	$112.3M+9544.2%	$1.2M+101.2%	-$97.4M-208.7%	$89.6M+29.0%	$69.4M-37.7%	$111.4M-6.7%	$119.4M+14.5%	$104.3M+71.2%	$60.9M+31.0%	$46.5M-56.0%	$105.6M+602.2%	$15.0M
EPS (Basic)	N/A	$5.09+179.5%	-$6.40-230.1%	$4.92+113.0%	$2.31+11450.0%	$0.02+101.1%	-$1.84-212.2%	$1.64+34.4%	$1.22-35.1%	$1.88+0.5%	$1.87+20.6%	$1.55+76.1%	$0.88+31.3%	$0.67-56.2%	$1.53+595.5%	$0.22
EPS (Diluted)	-$1.60	$5.07+179.2%	-$6.40-233.1%	$4.81+113.8%	$2.25+11150.0%	$0.02+101.1%	-$1.84-213.6%	$1.62+36.1%	$1.19-33.1%	$1.78-2.2%	$1.82+21.3%	$1.50+76.5%	$0.85+26.9%	$0.67-56.2%	$1.53+595.5%	$0.22
Diluted Shares (Avg)	N/A	42M-5.9%	44M-7.6%	48M-3.7%	50M-3.3%	52M-2.5%	53M-4.2%	55M-5.4%	58M-6.7%	63M-4.8%	66M-5.2%	69M-2.4%	71M+102769.1%	69,081+0.8%	68,564+0.2%	68,418

Metric	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-K	Q1'2510-Q	Q4'2410-K	Q3'2410-K	Q2'2410-K
Revenue	$303.2M-20.4%	$321.5M-22.9%	$381.6M-17.8%	$458.8M-16.7%	$380.9M-26.1%	$416.8M-30.1%	$464.0M-26.7%	$550.6M-19.8%
Cost of Revenue	$313.8M-13.3%	N/A	$365.9M-10.3%	$417.4M-9.4%	$361.9M-17.5%	N/A	$408.0M-20.0%	$461.0M-13.9%
Gross Profit	-$10.6M-155.6%	-$6.2M-114.4%	$15.7M-72.0%	$41.4M-53.8%	$19.0M-75.1%	$43.0M-60.3%	$56.0M-54.4%	$89.7M-40.6%
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	$479.1M+1236.8%	$34.0M-9.0%
Operating Income	-$52.4M-116.6%	N/A	$57.6M+113.3%	-$4.8M-110.9%	$314.6M+963.6%	N/A	-$433.0M-657.8%	$43.8M-57.6%
EBITDA	-$37.3M-111.3%	N/A	$72.3M+117.2%	$9.3M-83.8%	$329.6M+679.2%	N/A	-$419.1M-564.9%	$57.5M-49.5%
Interest Expense	$6.2M+23.1%	N/A	$5.4M+8.4%	$5.3M+7.3%	$5.0M+0.8%	N/A	$5.0M+0.5%	$4.9M-0.8%
Income Tax	-$13.0M-116.7%	N/A	$11.6M+110.7%	-$2.7M-127.6%	$78.1M+1116.0%	N/A	-$108.4M-700.0%	$9.8M-59.8%
Net Income	-$45.2M-119.6%	-$49.9M-4742.5%	$40.0M+112.1%	-$9.6M-133.1%	$230.9M+1171.2%	-$1.0M-102.0%	-$330.2M-696.7%	$29.0M-61.0%
EPS (Basic)	-$1.11-120.5%	-$1.23-6050.0%	$0.98+113.0%	-$0.23-135.4%	$5.41+1252.5%	-$0.02-101.8%	-$7.53-738.1%	$0.65-58.6%
EPS (Diluted)	-$1.11-120.7%	-$1.23-6050.0%	$0.97+112.9%	-$0.23-135.9%	$5.36+1274.4%	-$0.02-101.9%	-$7.53-749.1%	$0.64-58.4%
Diluted Shares (Avg)	41M-5.4%	N/A	41M-6.1%	42M-8.0%	43M-6.8%	N/A	44M-8.2%	45M-6.2%

Not reported in any period shown, so not listed: R&D Expenses.

WNC Balance Sheet

WNC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$1.2B-17.0%	$1.4B+3.6%	$1.4B+13.2%	$1.2B+8.7%	$1.1B-4.7%	$1.2B-11.0%	$1.3B0.0%	$1.3B-3.5%	$1.4B+50.4%	$898.7M-5.4%	$949.7M+2.4%	$927.4M+1.7%	$912.2M+1.1%	$902.6M+132.6%	$388.1M
Current Assets	$419.1M-29.5%	$594.5M-12.7%	$681.4M+15.0%	$592.6M+11.9%	$529.7M-2.9%	$545.8M+0.8%	$541.4M-1.5%	$549.4M-4.7%	$576.4M+19.7%	$481.4M-9.1%	$529.5M+9.0%	$485.7M+8.2%	$449.0M+7.4%	$418.1M+58.3%	$264.0M
Cash & Equivalents	$31.9M-72.4%	$115.5M-35.6%	$179.3M+207.8%	$58.2M-18.9%	$71.8M-67.0%	$217.7M+54.9%	$140.5M+5.9%	$132.7M-30.7%	$191.5M+17.2%	$163.5M-8.6%	$178.9M+22.4%	$146.1M+29.0%	$113.3M+39.1%	$81.4M+307.7%	$20.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$181.2M-30.0%	$258.8M-3.3%	$267.6M+9.7%	$243.9M+2.6%	$237.6M+45.1%	$163.8M-12.4%	$186.9M+1.4%	$184.4M+2.0%	$180.7M+29.1%	$140.0M-16.2%	$167.0M-5.7%	$177.1M-3.8%	$184.2M-2.8%	$189.5M0.0%	$189.5M
Accounts Receivable	$119.9M-16.7%	$143.9M-21.3%	$183.0M-28.4%	$255.6M+44.8%	$176.5M+74.2%	$101.3M-41.4%	$172.7M-4.6%	$181.1M+23.3%	$146.8M-4.4%	$153.6M+0.5%	$152.8M+13.0%	$135.2M+12.3%	$120.4M+24.6%	$96.6M+85.0%	$52.2M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$191.2M+1.5%	$188.4M0.0%	$188.4M0.0%	$188.4M0.0%	$188.4M-5.6%	$199.6M-35.8%	$311.0M0.0%	$311.1M-2.0%	$317.5M+114.0%	$148.4M-0.9%	$149.7M+0.1%	$149.6M-0.2%	$150.0M+2.4%	$146.4M	$0
Total Liabilities	$802.6M-34.3%	$1.2B+50.3%	$812.7M+0.9%	$805.4M+3.1%	$781.5M+3.3%	$756.6M-3.4%	$783.6M-5.7%	$830.5M-1.8%	$845.5M+98.3%	$426.3M-16.4%	$509.9M-5.0%	$536.6M-9.0%	$589.9M-6.9%	$633.9M+162.3%	$241.7M
Current Liabilities	$302.3M-2.0%	$308.4M-12.4%	$352.2M+1.4%	$347.5M+20.1%	$289.3M+22.7%	$235.8M-9.1%	$259.4M-4.5%	$271.7M-4.2%	$283.7M+70.3%	$166.6M-21.1%	$211.1M+13.0%	$186.9M-13.6%	$216.4M+10.0%	$196.7M+16.7%	$168.5M
Non-Current Liabilities	$500.3M-45.2%	$913.3M+98.3%	$460.5M+0.6%	$457.9M-7.0%	$492.2M-5.5%	$520.8M-0.6%	$524.2M-6.2%	$558.9M-0.5%	$561.8M+116.3%	$259.7M-13.1%	$298.8M-14.6%	$349.8M-6.4%	$373.5M-14.6%	$437.2M+497.4%	$73.2M
Long-Term Debt	$442.9M+11.5%	$397.1M+0.2%	$396.5M+0.2%	$395.8M-7.6%	$428.3M-4.4%	$448.0M-1.6%	$455.4M-9.5%	$503.0M-0.2%	$504.1M+115.9%	$233.5M-15.1%	$274.9M-15.4%	$324.8M-9.5%	$358.9M-13.9%	$416.8M+541.3%	$65.0M
Total Equity	$367.4M+94.5%	$188.8M-65.6%	$549.5M+38.2%	$397.6M+22.1%	$325.5M-19.6%	$404.9M-22.3%	$521.0M+9.9%	$473.8M-6.4%	$506.1M+7.1%	$472.4M+7.4%	$439.8M+12.5%	$390.8M+21.2%	$322.4M+20.0%	$268.7M+83.6%	$146.3M
Retained Earnings	$303.6M+187.4%	$105.6M-73.8%	$403.9M+114.6%	$188.2M+104.4%	$92.1M-14.1%	$107.2M-51.7%	$221.8M+47.7%	$150.2M+52.2%	$98.7M+2649.3%	$3.6M+103.2%	-$111.9M+48.2%	-$216.2M+22.0%	-$277.1M+14.4%	-$323.7M+24.6%	-$429.3M

Metric	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-K	Q1'2510-Q	Q4'2410-K	Q3'2410-K	Q2'2410-K
Total Assets	$1.2B-13.1%	$1.2B-17.0%	$1.3B-7.3%	$1.4B+2.7%	$1.4B+2.7%	$1.4B+3.6%	$1.5B+4.8%	$1.3B-3.3%
Current Assets	$469.3M-28.6%	$419.1M-29.5%	$603.5M-5.6%	$623.9M-3.1%	$657.6M-4.4%	$594.5M-12.7%	$639.5M-11.3%	$644.0M-11.6%
Cash & Equivalents	$43.4M-46.4%	$31.9M-72.4%	$91.7M+12.0%	$57.4M-25.7%	$81.0M-30.0%	$115.5M-35.6%	$81.8M-22.3%	$77.3M-21.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$198.3M-28.8%	$181.2M-30.0%	$219.5M-15.8%	$252.5M-7.5%	$278.6M0.0%	$258.8M-3.3%	$260.6M-24.3%	$272.9M-20.3%
Accounts Receivable	$159.2M-7.3%	$119.9M-16.7%	$147.2M-38.3%	$189.7M-22.0%	$171.7M-30.7%	$143.9M-21.3%	$238.7M+13.0%	$243.2M+5.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$213.3M+8.5%	$191.2M+1.5%	$196.6M+4.4%	$196.7M+4.4%	$196.7M+4.4%	$188.4M0.0%	$188.4M0.0%	$188.4M0.0%
Total Liabilities	$907.4M-10.2%	$802.6M-34.3%	$929.8M-25.9%	$989.6M+25.5%	$1.0B+21.4%	$1.2B+50.3%	$1.3B+44.1%	$788.5M-12.7%
Current Liabilities	$352.7M-15.1%	$302.3M-2.0%	$447.2M+31.8%	$372.4M+15.2%	$415.4M+12.7%	$308.4M-12.4%	$339.3M-13.7%	$323.4M-25.4%
Non-Current Liabilities	$554.6M-6.7%	$500.3M-45.2%	$482.6M-47.3%	$617.2M+32.7%	$594.7M+28.2%	$913.3M+98.3%	$914.9M+91.8%	$465.2M-1.1%
Long-Term Debt	$498.0M+19.3%	$442.9M+11.5%	$422.7M+6.5%	$437.5M+10.3%	$417.3M+5.2%	$397.1M+0.2%	$397.0M+0.2%	$396.8M+0.2%
Total Equity	$320.6M-20.6%	$367.4M+94.5%	$418.7M+108.8%	$385.2M-30.0%	$403.8M-26.0%	$188.8M-65.6%	$200.5M-61.3%	$550.4M+14.4%
Retained Earnings	$255.1M-23.4%	$303.6M+187.4%	$357.0M+224.5%	$320.3M-27.8%	$333.1M-20.5%	$105.6M-73.8%	$110.0M-69.2%	$443.7M+45.1%

WNC Cash Flow Statement

WNC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$21.7M	$11.7M-90.1%	$117.3M-63.3%	$319.6M+157.6%	$124.1M+1761.1%	-$7.5M-106.0%	$124.1M-15.1%	$146.3M+30.1%	$112.5M-22.1%	$144.4M-19.2%	$178.8M+35.6%	$131.8M+42.3%	$92.6M-28.0%	$128.7M+69.3%	$76.0M+6613.9%	-$1.2M
Depreciation & Amortization	N/A	$58.7M+3.1%	$57.0M+25.7%	$45.3M-3.5%	$47.0M-3.8%	$48.8M+1.8%	$48.0M+13.3%	$42.4M+4.1%	$40.7M+16.1%	$35.1M-4.7%	$36.8M-3.2%	$38.0M-2.1%	$38.8M+1.3%	$38.3M+50.0%	$25.6M+64.0%	$15.6M
Stock-Based Compensation	N/A	$11.5M+1.5%	$11.3M-4.2%	$11.8M+21.1%	$9.7M+38.1%	$7.1M+56.6%	$4.5M-50.1%	$9.0M-11.1%	$10.2M-2.5%	$10.4M-13.4%	$12.0M+20.3%	$10.0M+27.8%	$7.8M+4.7%	$7.5M+45.3%	$5.1M+51.5%	$3.4M
Capital Expenditures	$19.4M	$24.7M-65.8%	$72.2M-26.4%	$98.1M+71.8%	$57.1M+16.3%	$49.1M+143.9%	$20.1M-46.5%	$37.6M+10.7%	$34.0M+30.5%	$26.1M+28.1%	$20.3M-2.4%	$20.8M+4.5%	$20.0M+8.7%	$18.4M+23.0%	$14.9M+105.3%	$7.3M
Free Cash Flow	-$41.2M	-$13.0M-128.9%	$45.1M-79.6%	$221.5M+230.6%	$67.0M+218.4%	-$56.6M-154.4%	$104.0M-4.3%	$108.6M+38.5%	$78.5M-33.7%	$118.3M-25.3%	$158.4M+42.8%	$110.9M+52.7%	$72.7M-34.1%	$110.3M+80.5%	$61.1M+824.7%	-$8.4M
Investing Cash Flow	-$63.2M	-$92.7M+2.2%	-$94.8M+10.6%	-$106.0M-91.7%	-$55.3M-104.3%	-$27.1M-797.7%	-$3.0M+91.8%	-$36.9M-179.8%	-$13.2M+96.0%	-$332.2M-1819.5%	-$17.3M-126.4%	-$7.6M	N/A	-$31.5M+91.7%	-$380.8M-5154.9%	-$7.2M
Financing Cash Flow	$47.3M	-$2.5M+97.1%	-$86.3M+6.8%	-$92.5M-12.4%	-$82.3M+26.1%	-$111.4M-153.3%	-$44.0M+56.7%	-$101.6M+35.7%	-$158.1M-173.2%	$215.9M+222.1%	-$176.8M-93.4%	-$91.4M	N/A	-$65.3M-117.8%	$366.3M+4994.3%	$7.2M
Dividends Paid	$13.4M	$13.8M-6.7%	$14.8M-6.8%	$15.9M-1.0%	$16.0M-2.5%	$16.4M-5.1%	$17.3M-2.7%	$17.8M+0.2%	$17.8M+16.0%	$15.3M	$0	$0	N/A	N/A	N/A	N/A
Share Buybacks	$17.3M	$33.8M-52.4%	$70.9M-6.9%	$76.2M+122.3%	$34.3M-48.6%	$66.7M+253.2%	$18.9M-43.9%	$33.7M-42.3%	$58.4M-21.6%	$74.5M-6.4%	$79.6M+28.8%	$61.8M+4025.4%	$1.5M+4177.1%	$35K-93.8%	$564K+5.8%	$533K

Metric	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-K	Q1'2510-Q	Q4'2410-K	Q3'2410-K	Q2'2410-K
Operating Cash Flow	-$33.7M-12272.1%	-$57.4M-171.0%	$85.2M+99.2%	-$15.8M-243.7%	-$272K+98.4%	$80.9M-29.7%	$42.8M-26.6%	$11.0M-85.7%
Depreciation & Amortization	$15.0M0.0%	$15.0M-9.5%	$14.6M+4.9%	$14.1M+2.4%	$15.0M+18.2%	$16.6M	$13.9M+11.3%	$13.7M+31.3%
Stock-Based Compensation	$3.2M-2.4%	N/A	N/A	N/A	$3.2M+0.1%	N/A	N/A	N/A
Capital Expenditures	$3.4M-60.6%	$4.5M-78.9%	$5.3M-63.7%	$6.2M-63.6%	$8.7M-54.7%	$21.3M+63.9%	$14.6M-50.2%	$17.1M-29.9%
Free Cash Flow	-$37.1M-313.3%	-$61.9M-204.0%	$79.9M+183.2%	-$22.1M-262.8%	-$9.0M+75.5%	$59.5M-41.6%	$28.2M-2.7%	-$6.1M-111.6%
Investing Cash Flow	-$4.3M+87.2%	-$18.4M+47.6%	-$26.5M-63.0%	-$14.0M+42.3%	-$33.8M-76.3%	-$35.2M-106.7%	-$16.2M+45.8%	-$24.2M+12.4%
Financing Cash Flow	$49.5M+13920.4%	$16.1M+233.1%	-$24.5M-11.3%	$6.2M+124.4%	-$358K+98.7%	-$12.1M+49.7%	-$22.0M-0.8%	-$25.3M-35.7%
Dividends Paid	$3.5M-10.0%	$3.2M-6.5%	$3.3M-7.0%	$3.4M-6.5%	$3.9M-6.9%	$3.5M-6.3%	$3.5M-6.8%	$3.6M-5.0%
Share Buybacks	$0-100.0%	$666K-92.3%	$6.2M-66.5%	$10.4M-52.0%	$16.5M-25.4%	$8.6M-57.5%	$18.4M+2.4%	$21.7M+51.4%

WNC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WNC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	4.5%-9.1pp	13.6%-6.0pp	19.6%+6.7pp	12.9%+2.0pp	10.9%+0.1pp	10.8%-2.4pp	13.2%+0.7pp	12.5%-2.3pp	14.8%-2.9pp	17.6%+2.7pp	15.0%+2.5pp	12.5%-0.7pp	13.2%+1.9pp	11.2%+5.6pp	5.6%
Operating Margin	19.9%+38.2pp	-18.3%-30.6pp	12.3%+5.6pp	6.7%+4.8pp	1.9%+7.6pp	-5.8%-11.9pp	6.2%+1.3pp	4.9%-2.5pp	7.4%-3.6pp	11.0%+2.1pp	8.9%+2.3pp	6.6%+0.3pp	6.3%+1.5pp	4.8%+3.1pp	1.7%
Net Margin	13.7%+28.3pp	-14.6%-23.7pp	9.1%+4.6pp	4.5%+4.4pp	0.1%+6.6pp	-6.6%-10.4pp	3.9%+0.8pp	3.1%-3.3pp	6.3%-0.2pp	6.5%+1.3pp	5.1%+1.9pp	3.3%+0.4pp	2.8%-4.4pp	7.2%+6.0pp	1.3%
Return on Equity	57.6%+208.0pp	-150.4%-192.5pp	42.1%+13.9pp	28.2%+27.9pp	0.4%+24.4pp	-24.1%-41.3pp	17.2%+2.5pp	14.6%-7.4pp	22.0%-3.3pp	25.3%+1.6pp	23.7%+8.1pp	15.6%+1.2pp	14.4%-24.9pp	39.3%+29.0pp	10.3%
Return on Assets	18.1%+38.2pp	-20.1%-37.1pp	17.0%+7.6pp	9.3%+9.2pp	0.1%+8.5pp	-8.4%-15.3pp	6.9%+1.6pp	5.3%-2.9pp	8.2%-5.0pp	13.3%+2.3pp	11.0%+4.4pp	6.6%+1.5pp	5.1%-6.6pp	11.7%+7.8pp	3.9%
Current Ratio	1.39-0.5x	1.930.0x	1.93+0.2x	1.71-0.1x	1.83-0.5x	2.31+0.2x	2.09+0.1x	2.020.0x	2.03-0.9x	2.89+0.4x	2.51-0.1x	2.60+0.5x	2.08-0.1x	2.13+0.6x	1.57
Debt-to-Equity	1.21-0.9x	2.10+1.4x	0.72-0.3x	1.00-0.3x	1.32+0.2x	1.11+0.2x	0.87-0.2x	1.06+0.1x	1.00+0.5x	0.49-0.1x	0.63-0.2x	0.83-0.3x	1.11-0.4x	1.55+1.1x	0.44
Asset Turnover	1.32-0.1x	1.38-0.5x	1.86-0.2x	2.08+0.5x	1.63+0.4x	1.28-0.5x	1.780.0x	1.74+0.4x	1.31-0.7x	2.05-0.1x	2.13+0.1x	2.01+0.2x	1.79+0.2x	1.62-1.4x	3.06
FCF Margin	-0.9%-3.2pp	2.3%-6.4pp	8.7%+6.0pp	2.7%+5.8pp	-3.1%-10.2pp	7.0%+2.3pp	4.7%+1.2pp	3.5%-3.2pp	6.7%-1.9pp	8.6%+3.1pp	5.5%+1.6pp	3.9%-2.8pp	6.7%+2.6pp	4.2%+4.9pp	-0.7%

Metric	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-K	Q1'2510-Q	Q4'2410-K	Q3'2410-K	Q2'2410-K
Gross Margin	-3.5%-8.5pp	-1.9%-12.2pp	4.1%-8.0pp	9.0%-7.3pp	5.0%-9.8pp	10.3%-7.9pp	12.1%-7.4pp	16.3%-5.7pp
Operating Margin	-17.3%-99.8pp	N/A	15.1%+108.4pp	-1.0%-9.0pp	82.6%+76.8pp	N/A	-93.3%-105.6pp	8.0%-7.1pp
Net Margin	-14.9%-75.5pp	-15.5%-15.3pp	10.5%+81.6pp	-2.1%-7.3pp	60.6%+57.1pp	-0.3%-8.7pp	-71.2%-79.9pp	5.3%-5.6pp
Return on Equity	-14.1%-71.3pp	-13.6%-13.0pp	9.6%+174.2pp	-2.5%-7.8pp	57.2%+53.9pp	-0.5%-9.7pp	-164.7%-175.3pp	5.3%-10.2pp
Return on Assets	-3.7%-20.0pp	-4.3%-4.2pp	3.0%+25.7pp	-0.7%-2.9pp	16.3%+15.0pp	-0.1%-3.8pp	-22.7%-26.7pp	2.2%-3.2pp
Current Ratio	1.33-0.3x	1.39-0.5x	1.35-0.5x	1.68-0.3x	1.58-0.3x	1.930.0x	1.88+0.1x	1.99+0.3x
Debt-to-Equity	1.55+0.5x	1.21-0.9x	1.01-1.0x	1.14+0.4x	1.03+0.3x	2.10+1.4x	1.98+1.2x	0.72-0.1x
Asset Turnover	0.250.0x	0.270.0x	0.280.0x	0.33-0.1x	0.27-0.1x	0.30-0.1x	0.32-0.1x	0.41-0.1x
FCF Margin	-12.2%-9.9pp	-19.3%-33.6pp	20.9%+14.9pp	-4.8%-3.7pp	-2.4%+4.7pp	14.3%-2.8pp	6.1%+1.5pp	-1.1%-8.7pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Wabash National Corp. WNC	FY2025	$1.5B	$211.5M	13.7%	$558.5M	37/100
Columbus McKinnon Corp/NY CMCO	FY2026	$1.2B	-$229.5M	-19.2%	$491.3M	38/100
Titan International, Inc.(Delaware) TWI	FY2025	$1.8B	-$61.2M	-3.4%	$453.7M	39/100
Hyster-Yale, Inc. HY	FY2025	$3.8B	-$60.1M	-1.6%	$576.1M	30/100
The Manitowoc Company, Inc. MTW	FY2025	$2.2B	$7.2M	0.3%	$843.1M	36/100
Lindsay Corporation LNN	FY2025	$676.4M	$74.1M	10.9%	$1.2B	74/100

Where Wabash National Corp. Ranks

Frequently Asked Questions

What is Wabash National Corp.'s annual revenue?

Wabash National Corp. (WNC) reported $1.5B in total revenue for fiscal year 2025. This represents a -20.8% 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 National Corp.'s revenue growing?

Wabash National Corp. (WNC) revenue declined by 20.8% year-over-year, from $1.9B to $1.5B in fiscal year 2025.

Is Wabash National Corp. profitable?

Yes, Wabash National Corp. (WNC) reported a net income of $211.5M in fiscal year 2025, with a net profit margin of 13.7%.

What is Wabash National Corp.'s EBITDA?

Wabash National Corp. (WNC) had EBITDA of $366.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Wabash National Corp. have?

As of fiscal year 2025, Wabash National Corp. (WNC) had $31.9M in cash and equivalents against $442.9M in long-term debt.

What is Wabash National Corp.'s gross margin?

Wabash National Corp. (WNC) had a gross margin of 4.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Wabash National Corp.'s operating margin?

Wabash National Corp. (WNC) had an operating margin of 19.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Wabash National Corp.'s net profit margin?

Wabash National Corp. (WNC) had a net profit margin of 13.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Wabash National Corp. pay dividends?

Yes, Wabash National Corp. (WNC) paid $0.32 per share in dividends during fiscal year 2025.

What is Wabash National Corp.'s return on equity (ROE)?

Wabash National Corp. (WNC) has a return on equity of 57.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Wabash National Corp.'s free cash flow?

Wabash National Corp. (WNC) recorded an outflow of $13.0M in free cash flow during fiscal year 2025. This represents a -128.9% 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 Wabash National Corp.'s operating cash flow?

Wabash National Corp. (WNC) generated $11.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Wabash National Corp.'s total assets?

Wabash National Corp. (WNC) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Wabash National Corp.'s capital expenditures?

Wabash National Corp. (WNC) invested $24.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Wabash National Corp. spend on research and development?

Wabash National Corp. (WNC) invested $5.9M in research and development during fiscal year 2025.

Does Wabash National Corp. buy back shares?

Yes, Wabash National Corp. (WNC) spent $33.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Wabash National Corp. have outstanding?

Wabash National Corp. (WNC) had 40M shares outstanding as of fiscal year 2025.

What is Wabash National Corp.'s current ratio?

Wabash National Corp. (WNC) had a current ratio of 1.39 as of fiscal year 2025, which is considered adequate.

What is Wabash National Corp.'s debt-to-equity ratio?

Wabash National Corp. (WNC) had a debt-to-equity ratio of 1.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Wabash National Corp.'s return on assets (ROA)?

Wabash National Corp. (WNC) had a return on assets of 18.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Wabash National Corp.'s P/E ratio?

Wabash National Corp. (WNC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $558.5M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Wabash National Corp.'s price-to-sales ratio?

Wabash National Corp. (WNC) trades at 0.4x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to March 31, 2026. The market capitalization is $558.5M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Wabash National Corp.'s Altman Z-Score?

Wabash National Corp. (WNC) has an Altman Z-Score of 3.08, 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 Wabash National Corp.'s Piotroski F-Score?

Wabash National 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Wabash National Corp.'s earnings high quality?

Wabash National Corp. (WNC) has an earnings quality ratio of 0.06x, considered low quality (accrual-driven). 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 National Corp. cover its interest payments?

Wabash National Corp. (WNC) has an interest coverage ratio of 14.43x, 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 Wabash National Corp.?

Wabash National Corp. (WNC) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.