15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.1% per year over the past 5 years.
Net income has grown faster than revenue (23.1% vs 8.1% per year).
Operating margin has expanded, at 16.1% in the latest year.
Free cash flow has grown 18.3% per year over the past 5 years.
Financial health
Total debt ($5.5B) exceeds cash ($789M); net debt is $4.8B.
Total debt has grown in line with revenue (5.5% vs 8.1% per year).
Operating income covered interest expense 8.0× in the latest year.
Total debt is 2.4× EBITDA.
Shareholder returns
Dividends have been paid for 14 consecutive years, consuming 14.8% of earnings and 11.5% of free cash flow.
The dividend has grown 13.2% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$11.2B
$1.2B
34.1%
16.1%
10.5%
5.3%
$1.5B
$5.5B
$789M
2024
$10.4B
$1.1B
32.4%
15.5%
10.5%
5.6%
$1.6B
$4.0B
$715M
2023
$9.7B
$815M
30.4%
13.1%
7.8%
4.3%
$1.0B
$4.1B
$620M
2022
$8.4B
$633M
30.4%
12.1%
6.3%
3.4%
$889M
$4.0B
$541M
2021
$7.8B
$558M
30.3%
11.2%
5.5%
3.0%
$943M
$4.1B
$473M
2020
$7.6B
$414M
28.3%
9.9%
4.1%
2.2%
$648M
$4.2B
$599M
2019
$8.2B
$327M
27.8%
8.1%
3.3%
1.7%
$830M
$4.4B
$604M
2018
$4.4B
$295M
28.3%
10.8%
10.3%
3.4%
$221M
$3.9B
$2.3B
2017
$3.9B
$262M
27.4%
10.8%
9.3%
4.0%
$99M
—
$233M
2016
$2.9B
$305M
31.5%
15.6%
13.8%
4.6%
$400M
—
$1.1B
2015
—
$399M
—
—
23.5%
12.3%
$401M
—
$429M
2014
—
$352M
—
—
19.5%
10.6%
$425M
—
—
2013
—
$292M
—
—
18.4%
10.4%
$194M
—
—
2012
—
$252M
—
—
19.7%
10.7%
$201M
$318M
—
2011
—
$170M
—
—
16.3%
7.9%
$211M
$396M
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$3.1B
$409M
37.3%
20.0%
3.6%
1.8%
$381M
$6.4B
$489M
Jun '26
$3.2B
$395M
36.5%
18.9%
3.5%
1.7%
$379M
$6.6B
$670M
Mar '26
$3.0B
$362M
36.0%
17.5%
3.3%
1.6%
$153M
$6.5B
$531M
Dec '25
$3.0B
$202M
32.6%
12.0%
1.8%
0.9%
$870M
$5.5B
$789M
Sep '25
$2.9B
$310M
34.7%
17.0%
2.8%
1.4%
$312M
$5.3B
$528M
Jun '25
$2.7B
$336M
34.7%
17.4%
3.1%
1.6%
$170M
$4.8B
$1.5B
Mar '25
$2.6B
$322M
34.5%
18.2%
3.1%
1.7%
$147M
$4.0B
$698M
Dec '24
$2.6B
$212M
30.9%
12.9%
2.1%
1.1%
$639M
$4.0B
$715M
Sep '24
$2.7B
$283M
33.0%
16.3%
2.8%
1.5%
$496M
$4.0B
$410M
Jun '24
$2.6B
$289M
33.1%
16.3%
2.8%
1.5%
$189M
$4.0B
$595M
Mar '24
$2.5B
$272M
32.6%
16.5%
2.6%
1.5%
$303M
$4.0B
$639M
Dec '23
$2.5B
$215M
30.2%
12.2%
2.1%
1.1%
$609M
$4.1B
$620M
Sep '23
$2.5B
$240M
31.1%
14.5%
2.3%
1.3%
$386M
$4.0B
$392M
Jun '23
$2.4B
$191M
30.0%
13.0%
1.9%
1.0%
$77M
$4.4B
$371M
Mar '23
$2.2B
$169M
30.3%
12.6%
1.7%
0.9%
-$57M
$4.2B
$417M
Dec '22
$2.3B
$158M
28.3%
10.7%
1.6%
0.9%
$343M
$4.0B
$541M
Sep '22
$2.1B
$160M
31.1%
12.5%
1.6%
0.9%
$172M
$4.1B
$514M
Jun '22
$2.0B
$166M
31.5%
12.9%
1.7%
0.9%
$233M
$4.2B
$501M
Mar '22
$1.9B
$149M
30.9%
12.4%
1.5%
0.8%
$141M
$4.2B
$488M
Dec '21
$2.1B
$190M
31.5%
12.7%
1.9%
1.0%
$262M
$4.1B
$473M
Valuation over time
How the market has priced WAB against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 26.8× (Mar '23) to 41.1× (Nov '26).
The price-to-sales ratio has risen from 2.0× (Mar '23) to 4.3× (Nov '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.4% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is WAB growing its revenue and profit?
Over the past 5 years, Wabtec's revenue has grown 8.1% per year, and net income grown 23.1% per year. These are computed facts, not advice.
How much debt does WAB have?
As of FY2025, Wabtec reported $5.5B of total debt against $789M of cash; operating income covered interest expense 8.0×.
What is WAB's profit margin?
In FY2025, gross margin was 34.1%, operating margin 16.1%, and net margin 10.5%.
What is WAB's P/E ratio?
Wabtec's P/E (TTM) is 35.19 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the WAB stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 41.1× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.