Wabtec (WAB) stock
Industrials · Construction Machinery & Heavy Transportation Equipment
Wabtec (WAB) is a Construction Machinery & Heavy Transportation Equipment company in the Industrials sector, headquartered in Pittsburgh, Pennsylvania. As of October 23, 2026, WAB closed at $272.35, a market capitalization of $46.00 billion, the 247th largest company in the S&P 500. The stock trades at 33.8x trailing earnings and 21.6x forward earnings.
- 1-year total return: +38.9% (dividends reinvested)
- 5-year return: +24.8% a year
- 52-week range: $194.93 – $306.64
- Dividend yield: 0.46%, 4 straight years of increases
- FI Handbook report card: B- across 4 metrics
- 44th largest of 83 Industrials stocks in the S&P 500
WAB price chart
1Y price change: +38.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| WAB | -6.8% | +28.0% | +38.9% | +40.9% | +24.8% | +13.3% | +12.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1995.
WAB key statistics
- Market cap
- $46.0B
- #247 in S&P 500
- P/E (TTM)
- 33.8x
- Forward P/E
- 21.6x
- EPS (TTM)
- —
- Revenue (TTM)
- —
- Free cash flow
- $1.7B
- Gross margin
- —
- Operating margin
- —
- Return on equity
- —
- Dividend yield
- 0.46%
- 52-week range
- $194.93 – $306.64
- Beta
- —
- Price / sales
- —
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- —
WAB report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth——
- Gross margin——
- Operating margin——
- FCF margin——
- Return on equity——
- Net debt / EBITDA0.0xA
- Forward P/E21.6xC
- PEG ratio——
- Shareholder yield0.9%D
- Share count change / yr-2.1%A
Westinghouse Air Brake Technolo financials
Revenue went from $2.9B in fiscal 2016 to $11.2B in fiscal 2025, growing 16.0% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.9B | $3.9B | $4.4B | $8.2B | $7.6B | $7.8B | $8.4B | $9.7B | $10.4B | $11.2B |
| Gross profit | $924.2M | $1.1B | $1.2B | $2.3B | $2.1B | $2.4B | $2.5B | $2.9B | $3.4B | $3.8B |
| Operating income | $456.6M | $421.1M | $473.4M | $663.0M | $745.0M | $876.0M | $1.0B | $1.3B | $1.6B | $1.8B |
| Net income | $304.9M | $262.3M | $294.9M | $327.0M | $414.0M | $558.0M | $633.0M | $815.0M | $1.1B | $1.2B |
| EPS (diluted) | $3.34 | $2.72 | $3.05 | $1.84 | $2.17 | $2.96 | $3.46 | $4.53 | $6.04 | $6.83 |
| Free cash flow | $400.3M | $99.3M | $221.4M | $830.0M | $648.0M | $943.0M | $889.0M | $1.0B | $1.6B | $1.5B |
| Buybacks | $212.2M | $0 | $0 | $0 | $207.0M | $300.0M | $473.0M | $409.0M | $1.1B | $223.0M |
| Dividends paid | $32.4M | $42.2M | $46.3M | $82.0M | $93.0M | $92.0M | $111.0M | $123.0M | $140.0M | $173.0M |
| Diluted shares | 91.1M | 96.1M | 96.5M | 177.3M | 190.4M | 188.1M | 182.8M | 179.5M | 174.8M | 171.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into WAB?
A reverse DCF asks what growth the current price requires. With an enterprise value of $46.0B and $1.7B of trailing free cash flow, Westinghouse Air Brake Technolo needs to grow free cash flow about 18.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 18.3% a year over the last five years.
P/E ratio history
Current 39.9x vs. median 26.8x (10th–90th percentile 18.7x–39.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
WAB dividend
- Dividend yield
- 0.46%
- Annual dividend
- $1.24
- Years of increases
- 4
- 5-yr dividend growth
- 15.8%
- per year
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
WAB analyst price targets
12 analysts' average 12-month target is $332.08 (+22% vs. $272.35). Targets range from $292.00 to $355.00. 83% rate it a buy.
WAB earnings
Next report: February 10, 2027. Westinghouse Air Brake Technolo has beaten EPS estimates 7 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 21, 2026 | $2.73 | $2.83 | +3.5% |
| Jul 22, 2026 | $2.61 | $2.76 | +5.9% |
| Apr 22, 2026 | $2.52 | $2.71 | +7.5% |
| Feb 11, 2026 | $2.08 | $2.10 | +0.9% |
| Oct 22, 2025 | $2.28 | $2.32 | +2.0% |
| Jul 24, 2025 | $2.18 | $2.27 | +4.1% |
| Apr 23, 2025 | $2.03 | $2.28 | +12.5% |
| Feb 12, 2025 | $1.73 | $1.68 | -3.0% |
Stocks like WAB
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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 PCAR PACCAR | -2.40% | +10% | $56.3B | 22.5x | Compare |
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
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 DE Deere & | +0.39% | +39% | $174.2B | 35.9x | Compare |
 UNP Union Pacific | -1.75% | +36% | $174.0B | 22.8x | Compare |
WAB news
- WAB Q3 deep dive: margin expansion and backlog growth offset revenue shortfall · Oct 22, 2026
- Wabtec (WAB) Q3 Earnings Power Margin Gains Above Premium P E · Oct 22, 2026
- Westinghouse Air Brake Technologies: 3 Key Takeaways for Long-Term Investors · Oct 21, 2026
- Wabtec (WAB) Q3 2026 Earnings Call Transcript · Oct 21, 2026
- Westinghouse Air Brake Technologies Corporation Q3 2026 Earnings Call Summary · Oct 21, 2026
WAB stock FAQ
What is WAB's market cap?
Wabtec's market capitalization is $46.00 billion as of October 23, 2026, ranking 247th in the S&P 500.
What is WAB's P/E ratio?
WAB trades at a trailing price-to-earnings ratio of 33.8x and a forward P/E of 21.6x. Its median P/E over the period we track is 26.8x.
Does WAB pay a dividend?
Yes. Wabtec pays $1.24 per share a year, a 0.46% yield. It has raised its dividend 4 years in a row. Dividends grew 15.8% a year over the last five years.
How much has WAB stock returned?
Including reinvested dividends, WAB returned +38.9% over one year, +24.8% a year over five years, +13.3% a year over ten years through October 23, 2026.
Is WAB stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Wabtec must grow free cash flow about 18% a year for the next decade. Its free cash flow grew 18% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the WAB price target?
12 analysts cover WAB with an average 12-month price target of $332.08, +22% from the current price. 83% of them rate it a buy.
When does WAB report earnings?
Wabtec is expected to report earnings on February 10, 2027. It has beaten EPS estimates 7 quarters in a row.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology