TORVANTA
Industrials · S&P 500 · data as of 2026-10-05

WAB stock analysis: Wabtec

Wabtec (WAB) is an S&P 500 company in Construction Machinery & Heavy Transportation Equipment. It grades strongest on momentum and weakest on profitability and value.

The model's view of WAB · subscribers

Where WAB ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with WAB · updated 2026-10-05 · from prices and SEC filings

WAB price performance

WAB against the S&P 500, one year
+0%+20%+40%+60%WAB +48%S&P 500 +18%2025-09-292026-10-05
Year to date+37.2%S&P 500 +14.5% · ahead by 22.7 pts
1 year+46.6%S&P 500 +17.0% · ahead by 29.5 pts
3 years+190.2%S&P 500 +89.3% · ahead by 100.9 pts
5 years+235.0%S&P 500 +91.3% · ahead by 143.7 pts

Total returns with dividends reinvested.

WAB factor grades

Each grade compares WAB with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

D+ValueP/E 39.2x (sector 27.2x)FCF yield 3.5% (sector 4.0%)
B-GrowthRevenue growth +13% (sector +7%)EPS growth +11% (sector +9%)
C-ProfitabilityOperating margin 16.4% (sector 16.9%)ROIC 8.6% (sector 19.9%)
AMomentum12-month change +47%From 52-wk high -4%

WAB in plain numbers

WAB key statistics

SectorIndustrials
IndustryConstruction Machinery & Heavy Transportation Equipment
IndexS&P 500
Market value$49.3B
Revenue growth (y/y)+13%
Free-cash-flow yield3.5%
Dividend yield0.4%
Next earnings (expected)2026-10-21
Valuation measures
Market value$49.3B
Enterprise value$55.2B
P/E (trailing)39.2x
Forward P/E (Torvanta estimate)37.0x
PEG (Torvanta estimate)6.22
Price / sales4.1x
Price / book4.4x
EV / revenue4.6x
EV / EBITDA22.0x
Financial highlights
Revenue, last 12 months$12.0B
Net income, last 12 months$1.3B
EPS, last 12 months (GAAP)$7.45
Gross margin35.0%
Operating margin16.4%
Net margin10.6%
Return on equity11.5%
Return on invested capital8.6%
Cash$670.0M
Total debt$6.6B
Debt / equity0.59x
Free cash flow, last 12 months$1.7B
Interest cover6.9x
Current ratio1.12x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

WAB earnings trends

Revenue vs earnings
$0$794.8M$1.6B$2.4B$3.2BSep 2024 Revenue: $2.7BDec 2024 Revenue: $2.6BMar 2025 Revenue: $2.6BJun 2025 Revenue: $2.7BSep 2025 Revenue: $2.9BDec 2025 Revenue: $3.0BMar 2026 Revenue: $3.0BJun 2026 Revenue: $3.2BSep 2024 Net income: $283.0MDec 2024 Net income: $212.0MMar 2025 Net income: $322.0MJun 2025 Net income: $336.0MSep 2025 Net income: $310.0MDec 2025 Net income: $202.0MMar 2026 Net income: $362.0MJun 2026 Net income: $395.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 10.6%Net margin: 8.2%Net margin: 12.3%Net margin: 12.4%Net margin: 10.7%Net margin: 6.8%Net margin: 12.3%Net margin: 12.4%0%6%12%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.6$1.2$1.8$2.3Sep 2024 EPS (GAAP, diluted): $1.6Dec 2024 EPS (GAAP, diluted): $1.2Mar 2025 EPS (GAAP, diluted): $1.9Jun 2025 EPS (GAAP, diluted): $2.0Sep 2025 EPS (GAAP, diluted): $1.8Dec 2025 EPS (GAAP, diluted): $1.2Mar 2026 EPS (GAAP, diluted): $2.1Jun 2026 EPS (GAAP, diluted): $2.3Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +11% · Dec 2025 -4% · Mar 2026 +13% · Jun 2026 +19%

From the company's 10-Q and 10-K filings with the SEC.

Wabtec financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$7.8B$8.4B$9.7B$10.4B$11.2B
Net income$558.0M$633.0M$815.0M$1.1B$1.2B
EPS (GAAP)$2.95$3.46$4.52$6.04$6.84
Free cash flow$943.0M$889.0M$1.0B$1.6B$1.5B

WAB earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-22$2.33+19%+17%+14.4%
2026-04-22$2.12+13%+13%+4.0%
2026-02-11$1.19-4%+15%+4.5%
2025-10-22$1.81+11%+8%-0.6%
2025-07-24$1.96+20%+2%-8.5%
2025-04-23$1.88+23%+5%+4.2%

About Wabtec

HeadquartersPittsburgh, PA
Industry (SEC code)Railroad Equipment
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyWABTEC CORP, WESTINGHOUSE AIR BRAKE CO /DE/

From the company's SEC registration record.

Companies similar to WAB

CompanyMarket valueP/ERevenue growthOperating margin12-month change
WAB Wabtec$49.3B39.2x+13%16.4%+47%
PCAR PACCAR$57.6B23.0x-11%n/a+14%compare
CMI Cummins$72.0B26.7x+3%11.2%+23%compare
CAT Caterpillar$389.9B36.5x+18%17.5%+72%compare

All Industrials stock ratings

Frequently asked questions

Is WAB stock a buy?

Torvanta does not tell individuals what to buy. Its grades for WAB are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is WAB's P/E ratio?

WAB trades at about 39.2 times its last 12 months of GAAP earnings reported to the SEC, and about 37.0 times Torvanta's own estimate of the next 12 months.

When does WAB report earnings next?

Based on its filing history, Torvanta expects Wabtec to report around 2026-10-21.

Does WAB pay a dividend?

Yes. Its dividend yield is about 0.4%, and it has raised its dividend 4 years in a row.

How has WAB performed against the S&P 500?

Over the past year WAB returned +46.6%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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