Westinghouse Air Brake Technologies Corporation
Rank #377Capital ReturnWatchlistCompare with other stocksWAB · NYSE · Industrials
Westinghouse Air Brake Technologies Corporation (WAB) — Rank #377 by gross profitability (GP/assets 0.16) · ROE 10.3% · Piotroski F-Score 5 / 9.
As-of 2026-10-30 · CIK 0000943452 · all metrics point-in-time as of the filing date.
About
Westinghouse Air Brake Technologies Corporation provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide.
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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.
- Industry
- Railroads
- Sector
- Industrials
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- wabteccorp.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
31,000
Industry
Railroads
Exchange
NYSE
11/12
Flags passed
WAB fails 1 critical flag
Passes 11 of 12 quality flags
- FAILBalance sheet deteriorating
Net cash collapsed with receivables or inventory outpacing revenue
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 30th percentile of 21 SIC 37 peers
Gross profitability (GP / assets)
0.16
Primary signal (Novy-Marx).
30th pctl of 21 SIC 37 peers
Return on equity
10.3%
Gross margin
34.1%
75th pctl of 21 SIC 37 peers
Revenue growth (YoY)
7.5%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
10.1%
Revenue CAGR (5Y)
8.1%
Earnings CAGR (3Y)
22.7%
FCF CAGR (3Y)
19.0%
Cash Flow Health
Is the cash real?
No warning flags · FCF 28% above net income
Free cash flow
$1.50B
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
28.1%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.7%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
Warning: Balance sheet deteriorating · net debt $5.89B, F-Score 5/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.04
47th pctl of 20 SIC 37 peers (best = lowest)
Current ratio
1.10×
0th pctl of 21 SIC 37 peers
Quick ratio
0.42×
Net cash
-$5.89B
Cash & equivalents minus total debt.
Piotroski F-Score
5 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.2 / 5
Capital allocation quality
Composite score
2.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports