Here are the 10-K annual reports from Wabtec Inc. (WAB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow WAB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WAB filings page.
Wabtec Corporation outlines a global rail-focused business spanning freight and passenger transit, supported by about 31,000 employees in over 50 countries. The company supplies locomotives, components, digital solutions and services aimed at improving safety, efficiency and sustainability for rail, mining, marine and industrial customers.
Freight operations generated roughly 72% of 2025 net sales and Transit 28%, both with sizable aftermarket revenue streams. Backlog reached about $27.4 billion at December 31, 2025, with $8.2 billion expected for 2026. Engineering investment was $223 million in 2025, and more than half of sales came from outside the U.S.
Wabtec highlights competitive strengths in technology, digital rail solutions and fuel efficiency, and describes a strategy focused on innovation, expanding its installed base, higher-margin recurring aftermarket revenue and continuous operational improvement. The filing also details extensive risk factors, including cyclicality in rail markets, supply chain pressures, geopolitical and regulatory uncertainty, cybersecurity and climate and ESG-related expectations.