Westinghouse Air Brake Technologies Corporation (WAB)

NYSE: WAB · USD

$282

+3.40 (+1.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-02

Our latest published analysis: WAB rated Sell

Westinghouse Air Brake Technologies Corporation's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$188 / share

Potential value

$240 / share

Upside to FV

-34.7%

from $282

Moat

8/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$48.6B
Revenue (ttm)	12.2B
Net income (ttm)	1.4B
EPS (ttm)	$8.04
Shares out	167.8M
P/E (trailing)	35.1x
P/E (forward)	23.8x
Dividend	$1.24 (0.44%)
Volume	654,842
Beta	0.92

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 12.2B
Net income (ttm): 1.4B
EPS (ttm): $8.04
P/E (trailing): 35.1x
P/E (forward): 23.8x
Market cap: $48.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$7.82B	$8.36B	$9.68B	$10.39B	$11.17B	+9.3%
Gross profit	$2.37B	$2.54B	$2.94B	$3.37B	$3.81B	+12.6%
Operating income	$876.0M	$1.01B	$1.27B	$1.61B	$1.79B	+19.6%
Net income	$558.0M	$633.0M	$815.0M	$1.06B	$1.17B	+20.3%
EPS (diluted)	$2.96	$3.46	$4.53	$6.04	$6.83	+23.2%
EBITDA	$1.36B	$1.47B	$1.79B	$2.07B	$2.32B	+14.4%
R&D	$176.0M	$209.0M	$218.0M	$206.0M	$223.0M	+6.1%
SG&A	$1.03B	$1.03B	$1.14B	$1.25B	$1.49B	+9.7%

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AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	보유
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	보유

Base and Bull scenarios

Base60%

Price target

$187.77

-34.7% from spot

The base case represents the modal compounding trajectory, where the Freight segment maintains its market leadership and steady aftermarket service growth. Operating margins expand moderately through ongoing efficiency gains and contract escalation clauses, while low capital intensity supports steady share repurchases across the forecast horizon.

Mid-single digit annual revenue growth supported by locomotive installed base maintenance and transit recovery
Operating margins expanding steadily toward long-term targets through pricing escalation and lean initiatives
Capital expenditures remaining disciplined at low single-digit percentages of revenue
Terminal exit valuation multiple aligning with normalized mature industrial compounder benchmarks

Bull20%

Price target

$239.57

-16.7% from spot

The bull case envisions accelerated modernization of global locomotive fleets, strong international contract conversion such as large-scale deliveries, and deepening operating leverage across the Transit segment. Under this trajectory, pricing power and integration initiatives expand operating margins well beyond historical peaks, while disciplined capital intensity fuels strong free cash conversion to support elevated valuation.

Double-digit revenue expansion driven by Tier IV fleet modernizations and international locomotive deliveries
Consolidated operating margins expanding beyond historical highs via pricing power and integration efficiencies
Disciplined capital intensity driving free cash flow conversion to new peaks
Forward valuation multiple expanding toward premium capital goods peer multiples

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($187.77). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.1%	$201	$205	$209	$213	$218
8.6%	$191	$194	$197	$201	$205
9.1%	$182	$184	$188	$190	$193
9.6%	$174	$176	$178	$181	$184
10.1%	$167	$169	$171	$173	$175

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E23.8

P25 n/aP50 n/aP75 n/a

Trailing P/E38.6

P25 n/aP50 n/aP75 n/a

ROE12.2

P25 n/aP50 n/aP75 n/a

ROIC9.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All WAB indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000943452
Company name	Westinghouse Air Brake Technologies Corporation
Country	United States
Country code	US
CUSIP number	929740108
Earnings date	2026-10-21
Earnings time	bmo
Employees	31,000
Employees change	1,500
Employees growth	5.08%
Enterprise value	$53.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1869
In index	SP500
Industry	Railroads
IPO date	1995-06-20
Is primary listing	Yes
Is SPAC	No
ISIN number	US9297401088
Last 10-K release date	2026-02-13
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Last stock split date	2013-06-12
Last stock split type	Forward
Market cap	$47.4B
Market cap category	Large-Cap
Next earnings date	2027-02-10
Options	Yes
Price	$282.36
Price currency	USD
Sector	Industrials
SIC code	3743
Stock price date	2026-10-28
Symbol	WAB
U.S. state	Pennsylvania
Website	https://www.wabteccorp.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	27.15x
Average P/E ratio (10Y)	32.21x
Average P/E ratio (3Y)	30.95x
Average P/E ratio (5Y)	29.44x
Earnings yield	2.85%
EV/Earnings	39.18x
EV/EBIT	23.84x
EV/EBITDA	19.35x
EV/FCF	30.02x
EV/Sales	4.38x
FCF / EV yield	3.33%
FCF yield	3.78%
Forward EV/Sales	4.09x
Forward P/E	23.33x
Forward P/S	3.61x
Graham number	110.49191
Graham upside	-60.74%
Industry forward P/E	22.29x
Industry P/E	25.65x
Lynch fair value	$197.58
Lynch upside	-29.79%
P/(FCF - SBC) ratio	28.01x
P/(OCF - SBC) ratio	23.73x
P/B ratio	4.14x
P/E ratio	35.1x
P/FCF ratio	26.48x
P/OCF ratio	22.63x
P/S ratio	3.87x
PEG ratio	1.41x
Price/EBITDA ratio	17.07x
Sector forward P/E	26.03x
Sector P/E	40.37x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	18.38%
EBITDA margin	22.65%
Effective tax rate	25.12%
FCF margin	14.6%
Gross margin	36.17%
Operating margin	18.38%
Pretax margin	15.02%
Profit margin	11.2%
Profit per employee	$44,065
Profitable quarters	30
Profitable years	23
Revenue per employee	$394,000
ROA	6.28%
ROA (5Y)	4.52%
ROCE	12.73%
ROE	12.24%
ROE (5Y)	8.25%
ROIC	9.56%
ROIC (5Y)	7.41%
SBC / revenue	0.79%
Tax / revenue	3.77%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	17.05%
EPS growth (Q)	33.7%
EPS growth (QoQ)	3.86%
EPS growth 10Y	7.31%
EPS growth 3Y	24.21%
EPS growth 5Y	27.27%
EPS growth quarters	3
EPS growth years	6
FCF growth	40.62%
FCF growth (Q)	22.12%
FCF growth (QoQ)	0.53%
FCF growth 3Y	33.52%
FCF growth 5Y	12.96%
Gross profit growth	19.83%
Gross profit growth (Q)	13.42%
Gross profit growth 3Y	15.22%
Gross profit growth 5Y	14.02%
Net income growth	15.93%
Net income growth (Q)	31.94%
Net income growth (QoQ)	3.81%
Net income growth 3Y	21.69%
Net income growth 5Y	24.56%
Net income growth quarters	3
Net income growth years	8
OCF growth	40.07%
OCF growth (Q)	23.98%
OCF growth (QoQ)	3.17%
OCF growth 10Y	16.85%
OCF growth 3Y	31.16%
OCF growth 5Y	13.98%
Operating income growth	18.28%
Operating income growth (Q)	18.39%
Operating income growth 3Y	20.94%
Operating income growth 5Y	19.65%
Revenue growth	13.25%
Revenue growth (Q)	8.11%
Revenue growth (QoQ)	-1.86%
Revenue growth 10Y	15.06%
Revenue growth 3Y	8.9%
Revenue growth 5Y	9.46%
Revenue growth quarters	22
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-304M
Depreciation and amortization	$521M
EBIT	$2.2B
EBITDA	$2.8B
EPS	$8.04
FCF per share	$10.63
Financing cash flow	$-23M
Free cash flow	$1.8B
Free cash flow minus SBC	$1.7B
Gross profit	$4.4B
Income taxes	$461M
Investing cash flow	$-2.1B
Net borrowing	$1.1B
Net cash flow	$-39M
Net income	$1.4B
Operating cash flow minus SBC	$2B
Operating income	$2.2B
Revenue	$12.2B
Stock-based compensation	$97M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.33
Book value per share	$67.46
Debt / EBITDA	2.31
Debt / equity	0.6
Debt / FCF	3.8
Goodwill	$10.6B
Interest coverage	7.51
Long-term assets	$17.1B
Long-term liabilities	$6.3B
Net cash (debt)	$-6.3B
Net cash / market cap	-13.33%
Net debt / EBITDA	2.28
Net debt / equity	0.55
Net debt / FCF	3.53
Piotroski F-Score	7
Property, plant and equipment	$1.7B
Shareholders' equity	$11.4B
Tangible book value	$-3.3B
Tangible book value per share	$-19.76
Total assets	$23.1B
Total cash	$478M
Total debt	$6.8B
Total liabilities	$11.8B
WACC	8.54%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.55
Current assets	$6.1B
Current liabilities	$5.5B
Current ratio	1.1
Inventory turnover	2.74
Net working capital	$1.8B
Quick ratio	0.5
Working capital	$551M
Working capital turnover	10.74

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.85%
Dividend growth	24%
Dividend growth (10Y)	13.16%
Dividend growth (3Y)	22.17%
Dividend growth (5Y)	20.9%
Dividend growth years	4
Dividend payment date	2026-12-01
Dividend payment years	32
Dividend payout frequency	Quarterly
Dividend per share	$1.24
Dividend yield	0.44%
Ex-dividend date	2026-11-17
FCF payout ratio	11.67%
Last dividend	$0.31
Payout ratio	15.42%
Shareholder yield	1.29%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	266.56%
10Y return CAGR	14.54%
10Y total return	288.42%
150-day SMA	$275.02
15Y price change	719.27%
15Y return CAGR	15.61%
15Y total return	780.48%
1D price change	1.22%
1M price change	-1.96%
1M total return	-1.96%
1W price change	-2.28%
1W total return	-2.28%
1Y price change	40.94%
1Y return CAGR	41.63%
1Y total return	41.6%
20-day SMA	$284.37
200-day SMA	$267.41
20Y price change	1,653.79%
20Y return CAGR	15.85%
20Y total return	1,794.86%
3M price change	-6.16%
3M total return	-6.06%
3Y price change	171.5%
3Y return CAGR	40.19%
3Y total return	175.59%
50-day SMA	$285.96
50-day SMA vs 200-day SMA	50over200
52-week high	$306.64
52-week high date	2026-07-29
52-week low	$194.93
52-week low date	2025-11-21
5Y price change	217.58%
5Y return CAGR	26.7%
5Y total return	226.48%
6M price change	5.67%
6M total return	5.9%
All-time high	$306.64
All-time high date	2026-07-29
All-time low	$3.91
All-time low date	2000-10-10
Average true range (ATR)	$7.17
Average volume	1M
Beta (1Y)	0.41
Beta (2Y)	0.95
Beta (5Y)	0.92
Change from 52-week high	-7.92%
Change from 52-week low	44.85%
Change from all-time high	-7.92%
Change from all-time low	7,128.88%
Change from open	0.36%
Day's gap	0.86%
Dollar volume	$184.9M
High price	$285.12
Low price	$280.81
Monthly RSI	71.1
Open price	$281.35
Position in 52-week range	35.96%
Premarket change	0.49%
Premarket close	$278.95
Premarket price	$280.31
Previous close	$278.95
Price vs 150-day SMA	2.67%
Price vs 20-day SMA	-0.71%
Price vs 200-day SMA	5.59%
Price vs 50-day SMA	-1.26%
Relative volume	0.65
RSI	48.21
Sharpe ratio	1.3
Sharpe ratio (3Y)	1.38
Sharpe ratio (5Y)	0.84
Sortino ratio	2.36
Sortino ratio (3Y)	2.36
Sortino ratio (5Y)	1.5
Volume	654.8K
Weekly RSI	54.9
YTD price change	32.28%
YTD total return	32.74%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	165.7M
Float percentage	98.77%
Shares change (QoQ)	-0.47%
Shares change (YoY)	-0.85%
Shares held by insiders	0.71%
Shares held by institutions	95.31%
Shares outstanding	167.8M
Short % of float	2.13%
Short % of shares	2.11%
Short ratio	4.4 days

Deeper analysis on WAB

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WAB report

What is the latest published WAB stock rating?

Westinghouse Air Brake Technologies Corporation is shown with Sell in the latest published report, analyzed 2026-10-02. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WAB analysis?

The full latest published report, analyzed 2026-10-02, lives at /stocks/WAB/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WAB?

The latest published report analyzed 2026-10-02 gives WAB a fair value of USD 188 and a potential value of USD 240. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WAB page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-02). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellWAB · Fair value $188-34.7%

Read full analysis →

Westinghouse Air Brake Technologies Corporation (WAB)

Our latest published analysis: WAB rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · WAB

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WAB indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on WAB

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	6.0
Profitability	5.5
Revenue Growth	7.5
Risk Assessment	6.5
Competitive Moat	8.0
Earnings Quality	8.0
Capital Efficiency	5.5