Wabtec

Industrials Construction Machinery & Heavy Transportation Equipment Pittsburgh, Pennsylvania Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$11.2B
                    3y CAGR +10.1%
                    
                    P87
                    
                    +7.5%
                    
                    Net income
                    FY2025
                
$1.2B
                    Net margin +10.5%
                    
                    P37
                    
                    +10.8%
                    
                    Total assets
                    FY2025
                
$22.1B
                    ROA +5.3%
                    
                    P22
                    
                    +18.0%
                    
                    Operating cash flow
                    FY2025
                
$1.8B
                    FCF margin +13.4%
                    
                    P56
                    
                    -4.1%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $22.1B

Total liabilities $10.9B

Shareholders equity $11.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	7.1%	6.9%	6.4%
Accounts Receivable	12.6%	11.1%	12.0%
Inventory	24.6%	22.3%	23.6%
Other Current Assets	6.7%	7.3%	8.2%
Total Current Assets	51.0%	47.6%	50.2%
Property,Plant and Equipment	14.5%	13.9%	15.3%
Goodwill	91.5%	83.9%	90.7%
Intangible Assets	34.4%	28.2%	33.1%
Other Noncurrent Assets	6.3%	6.4%	6.9%
Total Assets	197.6%	180.1%	196.2%
Liabilities
Accounts Payable	12.6%	12.5%	12.9%
Accrued Liabilities	13.3%	12.5%	12.6%
Deferred Revenue	9.1%	6.7%	8.3%
Current Portion of Long Term Debt	11.2%	4.8%	8.1%
Total Current Liabilities	46.1%	36.5%	41.9%
Long Term Debt	38.4%	33.5%	34.0%
Deferred Tax Liabilities	5.4%	3.6%	3.3%
Other Noncurrent Liabilities	7.5%	8.9%	8.3%
Total Liabilities	97.4%	82.5%	87.5%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	72.3%	77.2%	82.4%
Retained Earnings	34.7%	59.5%	54.4%
Treasury Stock	1.7%	31.5%	22.4%
Accumulated Other Comprehensive Income	-5.5%	-8.1%	-6.1%
Total Stockholders Equity	99.8%	97.2%	108.4%
Noncontrolling Interest	0.4%	0.4%	0.4%
Total Liabilitiesand Equity	197.6%	180.1%	196.2%

Income Statement

Revenue, expense, and profitability

18 accounts · 3 years

Revenue $11.2B

Operating income $1.8B

Net income $1.2B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	65.9%	67.6%	69.6%
Other Income Expense Gross Profit	34.1%	32.4%	30.4%
Expenses Research and Development	2.0%	2.0%	2.3%
Expenses Selling,General and Administrative	13.3%	12.0%	11.8%
Expenses Depreciation and Amortization	2.7%	2.9%	3.3%
Expenses Operating Expenses	18.0%	16.9%	17.3%
Other Income Expense Operating Income	16.1%	15.5%	13.1%
Other Income Expense Interest Expense	2.0%	1.9%	2.3%
Other Income Expense Other Income/expense	0.2%	0.0%	0.5%
Other Income Expense Income Before Tax	14.3%	13.6%	11.3%
Income Tax Income Tax Expense	3.7%	3.3%	2.8%
net Income Other Items Below Tax	-0.1%	-0.1%	-0.1%
net Income net Income	10.5%	10.2%	8.4%
net Income Comprehensive Income	12.5%	7.7%	9.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	1.5%	1.7%	1.9%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $1.8B

Investing cash flow $-2.7B

Financing cash flow $1.0B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	10.6%	10.3%	8.5%
Operating Activities Depreciation and Amortization	4.1%	4.4%	4.9%
Operating Activities Stock Based Compensation	0.7%	0.6%	0.5%
Operating Activities Deferred Income Taxes	0.1%	0.5%	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	0.1%	1.8%	-1.0%
Operating Activities Other Non Cash Items	0.2%	0.0%	0.1%
Operating Activities net Cash From Operating Activities	15.8%	17.7%	12.4%
Investing Activities Capital Expenditures	-2.3%	-2.0%	-1.9%
Investing Activities Business Acquisitions	-22.6%	-1.6%	-3.2%
Investing Activities Other Investing Activities	0.3%	0.3%	0.0%
Investing Activities net Cash From Investing Activities	-24.6%	-3.3%	-5.1%
Financing Activities Proceeds From Debt	42.2%	21.7%	57.5%
Financing Activities Repayment of Debt	-28.9%	-22.4%	-57.1%
Financing Activities Repurchase of Common Stock	-2.0%	-10.6%	-4.2%
Financing Activities Dividends Paid	-1.5%	-1.3%	-1.3%
Financing Activities Tax Withholding On Stock Based Compensation	-0.4%	-0.2%	-0.2%
Financing Activities Other Financing Activities	-0.2%	-0.4%	-1.3%
Financing Activities net Cash From Financing Activities	9.2%	-13.2%	-6.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.2%	0.0%
Cash Reconciliation net Change In Cash	0.7%	0.9%	0.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+34.1%	+32.4%	+30.4%
Operating margin	+16.1%	+15.5%	+13.1%
Net margin	+10.5%	+10.2%	+8.4%
FCF margin	+13.4%	+15.7%	+10.5%
Growth
Revenue CAGR (3y)	+10.1%	+9.9%	+8.6%
Returns
ROE	+10.5%	+10.5%	+7.8%
ROA	+5.3%	+5.6%	+4.3%
ROIC	+8.4%	+9.1%	+6.9%
Liquidity
Current ratio	1.11x	1.30x	1.20x
Quick ratio	0.43x	0.49x	0.44x
Leverage
D/E	0.98x	0.85x	0.81x
Interest coverage	7.97x	8.00x	5.81x
Efficiency
Asset turnover	0.51x	0.56x	0.51x
Cash conversion cycle	+113d	+93d	+100d

Valuation

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FY2025 fundamentals · no price

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Wabtec

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