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MARKETS / NYSE / WAB
NYSE · RAILROAD EQUIPMENT · LARGE CAP

Westinghouse AIR Brake Technologies Corp. WAB

18 fiscal years on record · USD · FY2025 reported · SEC filings only
4 YEARS OF DIVIDEND GROWTH
$11.2B
▲ 7.5% YoY
$1.2B
▲ 10.8% YoY
$1.5B
▼ 7.9% YoY
In brief

What this company does

Wabtec is a global provider of value-added, technology-based locomotives, equipment, systems and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets and applications. Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, is a Delaware corporation with headquarters at 30 Isabella Street in Pittsburgh, Pennsylvania. Wabtec has approximately 31,000 employees, excluding contingent workers, and operations in over 50 countries. It provides its products and services through two principal business segments, the Freight Segment and the Transit Segment. The Freight Segment primarily manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives, and provides components to new and existing freight cars, and it accounted for approximately 72% of Wabtec's total net sales in 2025. The Transit Segment primarily manufactures and services components for new and existing passenger transit vehicles, such as regional trains, high speed trains, subway cars, light-rail vehicles and buses, and it accounted for approximately 28% of total net sales in 2025. George Westinghouse founded the original Westinghouse Air Brake Co. in 1869, and the company went public on the New York Stock Exchange in 1995.

Written from the business description in WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP's annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth
USD 11.2B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 11.2 · Net income 1.2
4B8B2008201120142017202020232025
Compound annual growth
+10.1%
+8.1%
+12.9%
+14.3%
+22.7%
+23.1%
+11.4%
+16.2%
+25.4%
+25.8%
+18.6%
+15.8%
−12.1%
+5.7%
−0.5%
+42.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.1% a year over five years — but profit grew faster: net income at +23.1%, earnings per share at +25.8%.

The share count fell from 0.19B to 0.17B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 16.1% · Net 10.6%
5%10%15%2008201120142017202020232025
ROE
FY2025 · ROE 11.0%
10%20%2008201120142017202020232025

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders
USD 396.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.5
0.8B1.6B2008201120142017202020232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.2 · Net buybacks 0.2
0.5B1.0BDividendsNet buybacks2008201120142017202020232025

USD 173.0M in dividends and USD 223.0M in buybacks — 34% of the year's profit went back to shareholders.

Total assetsUSD 22.1B
EquityUSD 11.1B
CashUSD 789.0M
Gross debtUSD 5.5B
Net debtUSD 4.8B
Current ratio1.11×

Net debt stands at 43% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B11.210.49.78.47.87.68.24.43.92.93.33.02.62.42.01.51.41.6
Operating income $B1.81.61.31.00.90.70.70.50.40.50.60.50.40.40.30.20.20.2
EBITDA $B2.01.81.51.21.10.90.80.50.50.50.70.60.50.40.30.20.2·
Income tax $B0.40.30.30.20.20.10.10.10.10.10.20.20.10.10.10.10.00.1
Net income $B1.21.10.80.60.60.40.30.30.30.30.40.40.30.30.20.10.10.1
Free cash flow $B1.51.61.00.90.90.60.80.20.10.40.40.40.20.20.20.20.10.1
EPS, diluted $6.836.044.533.462.962.171.843.052.723.344.103.623.012.601.762.562.392.66
Dividend / sh $1.000.800.680.600.480.480.480.480.440.360.280.200.130.080.040.040.040.04
Payout %1513151816222516161175432221
ROE %11.010.37.96.25.54.15.110.410.515.622.720.720.421.717.514.716.220.2
Shares out B0.170.170.180.180.190.198.700.100.100.100.090.100.100.100.050.050.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRailroad Equipment
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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