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Earnings transcript
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WAB
Westinghouse Air Brake Technologies Corporation
$298.01
-2.53
(-0.84%)
| Exchange: | NYSE |
| Market Cap: | 50.337B |
| Shares Outstanding: | 80.286M |
Delayed data
About The Company
| Sector: | Industrials | |||||
| Industry: | Railroads | |||||
| CEO: | Rafael Ottoni Santana | |||||
| Full Time Employees: | 31000 | |||||
| Address: |
| |||||
| Website: | https://www.wabteccorp.com |
Westinghouse Air Brake Technologies Corporation (WAB) delivers a comprehensive suite of advanced technological solutions, equipment, and services tailored for the global freight railway and urban mass transit sectors. Its operations are bifurcated into two principal divisions: Freight and Transit. The Freight segment develops, produces, and maintains critical components for both newly manufactured and operational freight carriages and locomotives. This includes constructing brand-new commuter-focused locomotives, undertaking comprehensive rebuilding of freight locomotives, and delivering sophisticated railway electronic systems, positive train control (PTC) technology, signal design expertise, and related engineering provisions. This segment also furnishes essential heat exchange and cooling apparatus. Its clientele encompasses major publicly listed railway operators, equipment leasing firms, original equipment manufacturers (OEMs) of locomotives and freight cars, and various utility companies. The Transit segment is responsible for the production and upkeep of components utilized in both new and existing passenger conveyance systems, including regional and high-speed trains, subway cars, light-rail vehicles, and buses. This division also renovates subway cars and supplies HVAC (heating, ventilation, and air conditioning) systems, alongside doors for both buses and subways. This division caters to public transit agencies, municipal governments, leasing corporations, and manufacturers specializing in subway cars and buses. Beyond these core offerings, the company’s extensive product portfolio further includes advanced electronically controlled pneumatic braking systems, various railway electronic devices, robust freight car undercarriages, crucial draft gears, couplers, and slack adjusters, as well as air compression and drying units. They also offer diverse heat exchange and cooling solutions, track and switch apparatus, and comprehensive railway braking components. WAB manufactures new switcher locomotives, friction products, and provides extensive overhaul, modernization, and refurbishment services for both transit and freight locomotives and cars. Additionally, their offerings extend to platform screen doors, pantographs, window assemblies, specialized couplers, accessibility lifts and ramps for public transport vehicles, and traction motors. Established in 1869, the company maintains its corporate headquarters in Pittsburgh, Pennsylvania.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 9,677,000 | 10,387,000 | 11,167,000 |
| Gross Profit | 2,944,000 | 3,366,000 | 3,515,000 |
| EBITDA | 1,787,000 | 2,070,000 | 2,318,000 |
| Operating Income | 1,266,000 | 1,609,000 | 1,869,000 |
| Net Income | 815,000 | 1,056,000 | 1,170,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 18,988,000 | 18,702,000 | 22,069,000 |
| Total Liabilities | 8,464,000 | 8,569,000 | 10,879,000 |
| Total Stockholders Equity | 10,487,000 | 10,091,000 | 11,142,000 |
| Total Debt | 4,069,000 | 3,980,000 | 5,541,000 |
| Cash and Cash Equivalents | 620,000 | 706,000 | 789,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,201,000 | 1,834,000 | 1,759,000 |
| Capital Expenditure | -186,000 | -207,000 | 0 |
| Free Cash Flow | 1,015,000 | 1,627,000 | 1,759,000 |
| Net Income | 825,000 | 1,067,000 | 1,183,000 |
| Net Change in Cash | 79,000 | 95,000 | 74,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 15,261,058.770 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 15,625,190.415 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 15,460,292.792 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 3,839,911.974 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 3,931,532.974 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 3,890,042.251 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 2,792,914.935 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 2,879,886.776 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 2,840,501.267 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 1,892,424.850 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 1,937,578.452 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 1,917,130.568 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 16.600 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 16.830 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 16.320 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 5 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: WAB reported strong revenue and net income growth in the Q3 2025 earnings call, surpassing analyst expectations. Key financial results highlighted improved operating income and EPS, reflecting operational efficiency and profitability, supported by consistent free cash flow generation as seen in cash flow statements.
- Solid Market Position: As part of the industrial sector and transportation industry, WAB benefits from a stable market cap and a competitive position, evidenced by its performance metrics (perf1y and perf5y) showing consistent growth relative to industry averages (industry_perf1y, industry_perf5y).
- Operational Resilience: The earnings call emphasized effective cost management and operational improvements, contributing to a healthy gross profit margin (grossProfitMarginTTM) and net profit margin (netProfitMarginTTM), positioning WAB favorably against sector peers.
- Strong Liquidity: Balance sheet data indicates a solid current ratio (currentRatioTTM) and quick ratio (quickRatioTTM), alongside significant cash and cash equivalents, providing financial flexibility for strategic initiatives and debt management.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates WAB intrinsic value between $136.96 – $150.83 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about WAB valuation
Is Westinghouse Air Brake Technologies Corporation (WAB) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Westinghouse Air Brake Technologies Corporation (WAB) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is WAB a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether WAB trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is WAB’s P/E ratio?
You can see WAB’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for WAB?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is WAB a good long-term investment?
Whether WAB fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
WAB
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Daily snapshot
-0.84
Trading Metrics:
| Open: | 298.82 | Previous Close: | 300.54 | |
| Day Low: | 296.89 | Day High: | 300.32 | |
| Year Low: | 184.26 | Year High: | 306.64 | |
| Price Avg 50: | 281.85 | Price Avg 200: | 251.45 | |
| Volume: | 12257 | Average Volume: | 970619 |
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Login — it's freeWAB full analysis
Welcome to MARKETSNAP’s SWOT analysis for Westinghouse Air Brake Technologies Corporation, also known as WAB for those tracking the ticker. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into this industrial giant, breaking down its strengths, weaknesses, opportunities, and threats, while sprinkling in some key insights to help you see the bigger picture. Let’s get started with a quick snapshot of who they are and what’s…
