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
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
FCF
Total debt
Cash
2025
$11.2B
$1.2B
34.1%
16.1%
$1.5B
$5.5B
$789M
2024
$10.4B
$1.1B
32.4%
15.5%
$1.6B
$4.0B
$715M
2023
$9.7B
$815M
30.4%
13.1%
$1.0B
$4.1B
$620M
2022
$8.4B
$633M
30.4%
12.1%
$889M
$4.0B
$541M
2021
$7.8B
$558M
30.3%
11.2%
$943M
$4.1B
$473M
2020
$7.6B
$414M
28.3%
9.9%
$648M
$4.2B
$599M
2019
$8.2B
$327M
27.8%
8.1%
$830M
$4.4B
$604M
2018
$4.4B
$295M
28.3%
10.8%
$221M
$3.9B
$2.3B
2017
$3.9B
$262M
27.4%
10.8%
$99M
—
$233M
2016
$2.9B
$305M
31.5%
15.6%
$400M
—
$1.1B
2015
—
$399M
—
—
$401M
—
$429M
2014
—
$352M
—
—
$425M
—
—
2013
—
$292M
—
—
$194M
—
—
2012
—
$252M
—
—
$201M
$318M
—
2011
—
$170M
—
—
$211M
$396M
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$3.0B
$362M
36.0%
17.5%
$153M
$6.5B
$531M
Dec '25
$3.0B
$202M
32.6%
12.0%
$870M
$5.5B
$789M
Sep '25
$2.9B
$310M
34.7%
17.0%
$312M
$5.3B
$528M
Jun '25
$2.7B
$336M
34.7%
17.4%
$170M
$4.8B
$1.5B
Mar '25
$2.6B
$322M
34.5%
18.2%
$147M
$4.0B
$698M
Dec '24
$2.6B
$212M
30.9%
12.9%
$639M
$4.0B
$715M
Sep '24
$2.7B
$283M
33.0%
16.3%
$496M
$4.0B
$410M
Jun '24
$2.6B
$289M
33.1%
16.3%
$189M
$4.0B
$595M
Mar '24
$2.5B
$272M
32.6%
16.5%
$303M
$4.0B
$639M
Dec '23
$2.5B
$215M
30.2%
12.2%
$609M
$4.1B
$620M
Sep '23
$2.5B
$240M
31.1%
14.5%
$386M
$4.0B
$392M
Jun '23
$2.4B
$191M
30.0%
13.0%
$77M
$4.4B
$371M
Mar '23
$2.2B
$169M
30.3%
12.6%
-$57M
$4.2B
$417M
Dec '22
$2.3B
$158M
28.3%
10.7%
$343M
$4.0B
$541M
Sep '22
$2.1B
$160M
31.1%
12.5%
$172M
$4.1B
$514M
Jun '22
$2.0B
$166M
31.5%
12.9%
$233M
$4.2B
$501M
Mar '22
$1.9B
$149M
30.9%
12.4%
$141M
$4.2B
$488M
Dec '21
$2.1B
$190M
31.5%
12.7%
$262M
$4.1B
$473M
Sep '21
$1.9B
$131M
31.6%
11.4%
$221M
$4.1B
$456M
Jun '21
$2.0B
$125M
28.8%
10.1%
$195M
$4.1B
$454M
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 27.1× (Mar '23) to 41.0× (Jun '26).
The price-to-sales ratio has risen from 2.1× (Mar '23) to 4.3× (Jun '26).
The dividend yield has fallen from 0.6% (Mar '23) to 0.4% (Jun '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?
As of Jun '26, Wabtec traded at a price-to-earnings ratio of about 41.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.