Westinghouse Air Brake Technologies Corp (WAB)
Industrials · Construction Machinery & Heavy Transportation Equipment · US stock · S&P 500 component
$286.82
▼ -0.94 (0.33%)
Fair valueOvervalued
$145 −49.3% to fair value
$73fair band $102–$189$218
Day's range
$285.37 – $291.89
52-week range
$185.20 – $306.32
About Westinghouse Air Brake Technologies Corp
Wabtec, formally Westinghouse Air Brake Technologies, supplies equipment, systems and services to the global rail industry. Its products include locomotives, braking and control systems, components for freight cars and transit vehicles, and digital and signalling technology. Customers are freight railroads, passenger transit agencies, rail equipment makers and mining companies. The business is organised mainly into a freight segment and a transit segment.
Revenue comes from new equipment and from recurring parts, maintenance and service work on locomotives and rail assets already in operation. It totals $12.0 billion over the last twelve months, with growth of 10.1% a year across three years. The operating margin is 16.4%, and the business earns a profit of 8% on the capital invested in it. Wabtec has net debt of 2.5 times EBITDA, and the dividend yield is 0.4%. On the site's X-Ray Score it receives 40 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $185.20 – $306.32Volume 664,300Daily, split-adjusted
Vitals
Market cap$48.6B
52-week range$185.20 – $306.32
Volume (last day)664,300
P/E (TTM)38.6
EBIT / EV yield3.6%
Free-cash-flow yield3.5%
Dividend yield0.4%
Revenue (TTM)$12.0B
Net income (TTM)$1.3B
Operating margin16.4%
Return on capital8.4%
Debt incl. leases$6.9B
Cash & securities$670M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$145model spread $139 – $152
Overvalued
−49.3% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Multiples use through-the-cycle earnings (0.75x of the last twelve months)
Price $287
Undervalued < $102Fair $102 – $189Overvalued > $189
10-year DCF (market-scaled)
$100
Peer multiples
$156
Earnings power floor (not blended)
$38
Fundamentals-adjusted multiple
$180
Growth the price implies
27.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Weak
22/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.6%
Free-cash-flow yield3.5%
Fair value vs price0.5×
Growth
Strong
75/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)10.1%
EPS growth (3y)25.4%
Growth consistency100%
Profitability
Weak
33/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital8.4%
Operating margin16.4%
Gross profitability18.1%
Financial health
Weak
24/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA2.5×
Interest cover6.9×
Dividends
Fair
63/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.4%
Dividends vs free cash flow12%
Dividend growth15.9%
Quarterly results: last 6 quarters
+4.5%
Mar '25
+2.3%
Jun '25
+8.4%
Sep '25
+14.8%
Dec '25
+13.0%
Mar '26
+17.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.2B, diluted EPS $2.33.
Compare with peers
CMI Cummins Inc55 CAT Caterpillar Inc45 PCAR Paccar Inc43Other Construction Machinery & Heavy Transportation Equipment companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 4 Average · ● 9 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 39/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $7.8B | $8.4B | $9.7B | $10.4B | $11.2B |
| Operating income | $876M | $1.0B | $1.3B | $1.6B | $1.8B |
| Net income | $558M | $633M | $815M | $1.1B | $1.2B |
| Operating cash flow | $1.1B | $1.0B | $1.2B | $1.8B | $1.8B |
| Operating margin | 11.2% | 12.1% | 13.1% | 15.5% | 16.1% |
| Free cash flow | $943M | $889M | $1.0B | $1.6B | $1.5B |
| Diluted EPS | $2.96 | $3.46 | $4.53 | $6.04 | $6.83 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 4 neutral · 3 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 286.5 | Bullish |
| EMA 10 | 286.6 | Bullish |
| SMA 20 | 287.7 | Bearish |
| EMA 20 | 286.6 | Bullish |
| SMA 50 | 288.4 | Bearish |
| EMA 50 | 285.5 | Bullish |
| SMA 100 | 280.2 | Bullish |
| EMA 100 | 279.3 | Bullish |
| SMA 200 | 264.6 | Bullish |
| EMA 200 | 264.0 | Bullish |
Oscillators (daily)
| RSI (14) | 50.36 | Neutral |
| MACD (12, 26) | 0.01 | Bullish |
| Momentum (12) | -0.13 | Bearish |
| Stochastic %K (14) | 59.67 | Neutral |
| Williams %R (14) | -40.33 | Neutral |
| CCI (20) | 14.34 | Neutral |
Pivot points (classic, last session)
S3 277.6 | S2 281.5 | S1 284.2 | Pivot 288.0 | R1 290.7 | R2 294.5 | R3 297.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.18 USD
Yield on today's price
0.41%
Frequency
Quarterly
Next ex-dividend date
17 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| 17 Nov 2026 (upcoming) | 0.3100 |
| 18 Aug 2026 | 0.3100 |
| 22 May 2026 | 0.3100 |
| 17 Feb 2026 | 0.3100 |
| 12 Nov 2025 | 0.2500 |
| 14 Aug 2025 | 0.2500 |
| 27 May 2025 | 0.2500 |
| 21 Feb 2025 | 0.2500 |
| 13 Nov 2024 | 0.2000 |
| 14 Aug 2024 | 0.2000 |
| 24 May 2024 | 0.2000 |
| 22 Feb 2024 | 0.2000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
WAB SEC filings
1 Oct 2026
8-KSEC EDGAR
Current report
22 Jul 2026
10-QSEC EDGAR
Quarterly report
22 Jul 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
15 May 2026
8-KSEC EDGAR
Shareholder vote results
22 Apr 2026
10-QSEC EDGAR
Quarterly report
22 Apr 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
31 Mar 2026
DEF 14ASEC EDGAR
Proxy statement
3 Mar 2026
8-KSEC EDGAR
Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.