WAB
Westinghouse Air Brake Technologies CorporationStock · IndustrialsS&P 500 0.07% · Russell 1000 0.07% · US Stock Market 0.06% · Russell 3000 0.06% · MSCI World 0.05% · MSCI ACWI 0.05%$283.22+1.05%
as of market close, Sep 11, 2026
☾ AH — —
WAB financial statements
The full income statement, balance sheet, and cash-flow statement for Westinghouse Air Brake Technologies Corporation (WAB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 175.2M2024-09 171.9M2024-12 170.8M2025-03 171.1M2025-06 171.0M2025-09 171.0M2025-12 170.5M2026-03 169.7M2026-06 168.9M-3.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 11.2B+7.5% | 10.4B+7.3% | 9.68B+15.7% | 8.36B+6.9% | 7.82B+3.5% | |
| 3.81B+13.1% | 3.37B+14.3% | 2.94B+15.9% | 2.54B+7.2% | 2.37B+10.9% | ||
| Cost of revenue | 7.36B+4.8% | 7.02B+4.3% | 6.73B+15.6% | 5.82B+6.8% | 5.45B+0.6% | |
| 2.01B+14.6% | 1.76B+4.7% | 1.68B+9.7% | 1.53B+2.4% | 1.49B+7.3% | ||
| Research & development | 223M+8.3% | 206M-5.5% | 218M+4.3% | 209M+18.8% | 176M+8.6% | |
| Selling, general & administrative | 1.49B+19.4% | 1.25B+9.6% | 1.14B+10.7% | 1.03B-0.1% | 1.03B+8.6% | |
| Restructuring | — | 28.0M-42.9% | 49.0M+6.5% | 46.0M | — | |
| Amortization of intangibles | 300M-1.0% | 303M-5.6% | 321M+10.3% | 291M+1.4% | 287M+1.8% | |
| Provision for credit losses | 32.0M-11.1% | 36.0M+16.1% | 31.0M+10.7% | 28.0M-12.5% | 32.0M-13.5% | |
| Operating income | 1.79B+11.4% | 1.61B+27.1% | 1.27B+25.2% | 1.01B+15.4% | 876M+17.6% | |
| Interest expense | 225M+11.9% | 201M-7.8% | 218M+17.2% | 186M | — | |
| Net interest income | — | — | -218M-17.2% | -186M-5.1% | -177M+11.1% | |
| Other non-operating income | -2.00M-200.0% | 2.00M-93.8% | 32.0M+3300.0% | -1.00M-200.0% | 1.00M+200.0% | |
| Equity-method income | 2.00M-75.0% | 8.00M-68.0% | 25.0M+47.1% | 17.0M-15.0% | 20.0M+100.0% | |
| Pre-tax income | 1.59B+12.9% | 1.41B+29.1% | 1.09B+27.9% | 854M+15.9% | 737M+32.3% | |
| Income tax | 409M+19.2% | 343M+28.5% | 267M+25.4% | 213M+23.8% | 172M+18.6% | |
| 1.17B+10.8% | 1.06B+29.6% | 815M+28.8% | 633M+13.4% | 558M+34.8% | ||
| Net income to non-controlling interest | 13.0M+18.2% | 11.0M+10.0% | 10.0M+25.0% | 8.00M+14.3% | 7.00M+450.0% | |
| Preferred dividends | — | — | — | — | 0.00 | |
| Net income to common | 1.17B+10.8% | 1.05B+29.5% | 813M+28.8% | 631M+13.5% | 556M+34.6% | |
| $6.83+13.1% | $6.04+33.3% | $4.53+30.9% | $3.46+16.9% | $2.96+36.4% | ||
| EPS (basic) | $6.84+13.1% | $6.05+33.3% | $4.54+31.2% | $3.46+16.9% | $2.96+35.8% | |
| Weighted-avg shares (basic) | 171M-2.1% | 174M-2.6% | 179M-1.9% | 182M-2.9% | 188M-1.2% | |
| Weighted-avg shares (diluted) | 171M-2.1% | 175M-2.6% | 180M-1.8% | 183M-2.8% | 188M-1.2% | |
| Dividends per share | $1.00+25.0% | $0.80+17.6% | $0.68+13.3% | $0.60+25.0% | $0.48+0.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.69B+15.2% | 4.94B+1.8% | 4.86B+12.2% | 4.33B+12.9% | 3.83B-1.2% | ||
| Cash & equivalents | 789M+10.3% | 715M+15.3% | 620M+14.6% | 541M+14.4% | 473M-21.0% | |
| Accounts receivable | 1.41B+22.4% | 1.15B-0.7% | 1.16B+19.0% | 975M-10.1% | 1.08B+12.0% | |
| Inventory | 2.75B+18.6% | 2.31B+1.3% | 2.28B+12.3% | 2.03B+20.4% | 1.69B+2.9% | |
| Other current assets | 263M+24.1% | 212M-20.6% | 267M+14.6% | 233M+20.7% | 193M-15.0% | |
| 22.1B+18.0% | 18.7B-1.5% | 19.0B+2.5% | 18.5B+0.3% | 18.5B+0.0% | ||
| Property, plant & equipment | 1.62B+11.7% | 1.45B-2.6% | 1.49B+3.9% | 1.43B-4.5% | 1.50B-6.5% | |
| Goodwill | 10.2B+17.3% | 8.71B-0.8% | 8.78B+3.2% | 8.51B-0.9% | 8.59B+1.2% | |
| Intangible assets | 3.84B+30.8% | 2.93B-8.5% | 3.21B-5.8% | 3.40B-8.2% | 3.71B-4.2% | |
| Other non-current assets | 705M+5.5% | 668M+0.8% | 663M-22.0% | 850M+2.0% | 833M+34.6% | |
| Total non-current assets | 16.4B+19.0% | 13.8B-2.6% | 14.1B-0.4% | 14.2B-3.0% | 14.6B+0.3% | |
| 5.15B+35.8% | 3.79B-6.5% | 4.06B+17.0% | 3.47B+19.1% | 2.91B-9.8% | ||
| Accounts payable | 1.40B+7.8% | 1.30B+4.0% | 1.25B-3.9% | 1.30B+28.6% | 1.01B+11.3% | |
| Deferred revenue | 1.01B+46.5% | 693M-13.8% | 804M+4.1% | 772M+22.7% | 629M-2.2% | |
| Short-term & current debt | 1.25B+150.0% | 500M-36.0% | 781M+211.2% | 251M+12450.0% | 2.00M-99.6% | |
| 10.9B+27.0% | 8.57B+1.2% | 8.46B+1.1% | 8.37B+1.9% | 8.21B-1.0% | ||
| Long-term debt | 4.29B+23.3% | 3.48B+5.8% | 3.29B-12.3% | 3.75B-7.5% | 4.06B+7.0% | |
| Deferred revenue (non-current) | 259M-33.4% | 389M+123.6% | 174M+102.3% | 86.0M-2.3% | 88.0M+10.0% | |
| Operating lease liability (total) | 392M+27.3% | 308M-1.6% | 313M-6.3% | 334M+5.0% | 318M+7.9% | |
| Deferred tax liabilities | 606M+61.2% | 376M+18.2% | 318M-2.5% | 326M+13.2% | 288M+71.4% | |
| Other non-current liabilities | 832M-9.7% | 921M+24.5% | 740M+2.6% | 721M-3.0% | 743M-5.1% | |
| 11.1B+10.4% | 10.1B-3.8% | 10.5B+3.8% | 10.1B-1.0% | 10.2B+0.8% | ||
| Common stock | 1.00M-50.0% | 2.00M+0.0% | 2.00M+0.0% | 2.00M+0.0% | 2.00M+0.0% | |
| Additional paid-in capital | 8.07B+0.6% | 8.02B+0.6% | 7.98B+0.3% | 7.95B+0.5% | 7.92B+0.4% | |
| Retained earnings | 3.88B-37.3% | 6.18B+17.4% | 5.27B+15.1% | 4.58B+12.9% | 4.05B+13.0% | |
| Treasury stock | 190M-94.2% | 3.27B+50.8% | 2.17B+22.7% | 1.77B+35.5% | 1.31B+29.3% | |
| Accumulated other comprehensive income | -616M+27.2% | -846M-43.4% | -590M+10.7% | -661M-41.8% | -466M-37.5% | |
| Non-controlling interest | 48.0M+14.3% | 42.0M+13.5% | 37.0M-17.8% | 45.0M+18.4% | 38.0M+26.7% | |
| Total equity incl. non-controlling | 11.2B+10.4% | 10.1B-3.7% | 10.5B+3.7% | 10.1B-0.9% | 10.2B+0.8% | |
| Total liabilities & equity | 22.1B+18.0% | 18.7B-1.5% | 19.0B+2.5% | 18.5B+0.3% | 18.5B+0.0% | |
| Common shares issued | 172M-24.2% | 227M+0.0% | 227M+0.0% | 227M+0.0% | 227M+0.0% | |
| Common shares outstanding | 171M-0.4% | 171M-3.7% | 178M-1.9% | 181M-2.5% | 186M-1.6% | |
| Shares outstanding (cover) | 171M-0.2% | 171M-3.5% | 177M-1.8% | 180M-2.7% | 185M-1.9% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.76B-4.1% | 1.83B+52.7% | 1.20B+15.7% | 1.04B-3.3% | 1.07B+36.9% | ||
| Depreciation & amortization | 501M-0.4% | 503M-5.3% | 531M+10.9% | 479M-2.4% | 491M+3.8% | |
| Intangible amortization | 300M-1.0% | 303M-5.6% | 321M+10.3% | 291M+1.4% | 287M+1.8% | |
| Share-based compensation | 80.0M+21.2% | 66.0M+40.4% | 47.0M+14.6% | 41.0M-10.9% | 46.0M+130.0% | |
| Deferred income taxes | 11.0M-78.4% | 51.0M+187.9% | -58.0M-261.1% | 36.0M-59.1% | 88.0M+203.4% | |
| Change in receivables | 36.0M+5.9% | 34.0M-82.6% | 195M+275.0% | 52.0M-31.6% | 76.0M+124.1% | |
| Change in inventory | 182M+55.6% | 117M+101.7% | 58.0M-84.2% | 368M+797.6% | 41.0M+122.7% | |
| Change in payables | 34.0M-51.4% | 70.0M+220.7% | -58.0M-119.0% | 306M+180.7% | 109M+140.5% | |
| -2.75B-700.9% | -343M+30.3% | -492M-109.4% | -235M+56.5% | -540M-248.4% | ||
| Capital expenditure | 260M+25.6% | 207M+11.3% | 186M+24.8% | 149M+14.6% | 130M-4.4% | |
| Free cash flow | 1.50B-7.9% | 1.63B+60.3% | 1.01B+14.2% | 889M-5.7% | 943M+45.5% | |
| Acquisitions | 2.52B+1400.0% | 168M-45.5% | 308M+246.1% | 89.0M-79.5% | 435M+987.5% | |
| Proceeds from sale of PP&E | 5.00M-61.5% | 13.0M+550.0% | 2.00M-33.3% | 3.00M-88.0% | 25.0M+19.0% | |
| 1.03B+175.2% | -1.37B-116.6% | -633M+10.6% | -708M-8.4% | -653M-5.5% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 223M-79.7% | 1.10B+168.2% | 409M-13.5% | 473M+57.7% | 300M+44.9% | |
| Dividends paid | 173M+23.6% | 140M+13.8% | 123M+10.8% | 111M+20.7% | 92.0M-1.1% | |
| Other financing activities | -11.0M-466.7% | 3.00M+50.0% | 2.00M-85.7% | 14.0M+133.3% | 6.00M+220.0% | |
| Net change in cash | 74.0M-22.1% | 95.0M+20.3% | 79.0M+16.2% | 68.0M+154.0% | -126M-2420.0% | |
| Interest paid | 219M+21.0% | 181M-13.8% | 210M+17.3% | 179M+9.1% | 164M-5.7% | |
| Income taxes paid | 342M+44.3% | 237M+1.7% | 233M+48.4% | 157M+27.6% | 123M-4.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 36.4B+12.4% | 32.4B+42.5% | 22.7B+25.2% | 18.2B+6.4% | 17.1B+23.4% | |
| P/E | 31.1×+1.4% | 30.7×+2.3% | 30.0×+9.9% | 27.3×-10.8% | 30.6×-8.4% | |
| P/S | 3.3×+4.5% | 3.1×+29.7% | 2.4×+7.7% | 2.2×+2.3% | 2.2×+19.2% | |
| P/B | 3.3×+1.8% | 3.2×+45.8% | 2.2×+19.9% | 1.8×+9.8% | 1.7×+22.5% | |
| P/FCF | 24.3×+22.0% | 19.9×-34.4% | 30.4×+35.1% | 22.5×+24.1% | 18.1×-15.2% | |
| Earnings yield | 3.2%-1.4% | 3.3%-2.2% | 3.3%-9.0% | 3.7%+12.1% | 3.3%+9.2% | |
| FCF yield | 4.1%-18.0% | 5.0%+52.5% | 3.3%-26.0% | 4.5%-19.4% | 5.5%+17.9% | |
| Dividend yield | 0.47%+11.0% | 0.42%-21.3% | 0.54%-10.9% | 0.60%+15.4% | 0.52%-20.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: WAB’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WAB filings on SEC EDGAR → Not investment advice.