Westinghouse Air Brake Technolo (WAB) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Westinghouse Air Brake Technolo

NYSE•Industrials•Railroads

$278.82+2.45(0.01%)After hours

Market Cap

$47.15B

P/E

37.2x

P/S

3.9x

P/B

4.2x

Westinghouse Air Brake Technologies Corporation provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates in two segments, Freight and Transit. It offers diesel-electric and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products. The company also offers positive train control equipment; electronically controlled pneumatic braking products; railway electronics; signal design and engineering services; distributed locomotive power, and train cruise and remote controls; industrial/mobile Internet of Things hardware and software, edge-to-cloud, on and off-board analytics and rules, and asset performance management solutions; rail and shipper transportation management, and port visibility and optimization solutions; and network optimization solutions. In addition, it provides freight car trucks, braking equipment, and related components; air compressors and dryers, as well as heating, ventilation, and air conditioning (HVAC) systems; heat transfer components and systems; custom engineered burners and combustion systems; rail gear, signaling, and switch products; and turbochargers. Further, it offers freight locomotive overhauls, modernizations, and refurbishment; locomotive and car maintenance; transit locomotive and car overhaul; unit exchange of locomotive components; long-term parts arrangements; and way equipment maintenance services. Additionally, it provides railway and freight braking equipment and related components; brake shoes, discs, and pads; HVAC equipment; access and platform screen doors; pantographs; power converters and battery chargers; passenger information systems and closed-circuit television; signaling and railway electric relays; and doors, window assemblies, accessibility lifts, ramps, and electric charging solutions for buses. The company was founded in 1869 and is headquartered in Pittsburgh, Pennsylvania.

How this company scores

ExcellentMetricSide Score: 80/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability20/25

Growth21/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowStrong marginsLow leverageConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 37.2x5y range 22.3x – 37.2x

Currently above its 20-quarter median.

P/S · 3.9x5y range 1.8x – 3.9x

Currently above its 20-quarter median.

P/B · 4.2x5y range 1.5x – 4.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $47.15B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $11.98B
Q. Revenue: $3.18B
TTM EBITDA: $2.51B
TTM Op. Income: $1.96B
Q. Op. Income: $600.00M
TTM Net Income: $1.27B
Q. Net Income: $395.00M
EPS: $2.33
Shares Out.: $169.10M

$11.98B in TTM revenue grew 13.4% YoY, reaching $3.18B last quarter. TTM EBITDA of $2.51B and TTM operating income of $1.96B show growth is flowing through to the bottom line. TTM net income of $1.27B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 36.5%
EBITDA Margin: 23.4%
Op. Margin: 18.9%
Net Margin: 12.4%

Op. margin of 18.9% is up 1.4% YoY — cost efficiency is improving. Net margin at 12.4% and gross margin of 36.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 37.2x
P/S Ratio: 3.9x
P/B Ratio: 4.2x

At 37.2x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 3.9x and P/B of 4.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $23.13B
Cash: $670.00M
Long-Term Debt: $4.92B
Book Value: $11.21B
D/E Ratio: 0.4
Debt/EBITDA: 6.6

With $23.13B in assets and $4.92B in long-term debt, D/E is 0.4and book value is $11.21B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $441.00M
TTM Free Cash Flow: $1.71B
FCF Margin: 14.3%
FCF / Net Income: 1.4

TTM FCF of $1.71B on $441.00M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.