MARKETS / NYSE / WNC

NYSE · TRUCK TRAILERS · MID CAP

Wabash National Corp. WNC

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$1.5B

▼ 20.8% YoY

Net income

$211.5M

Free cash flow

$-13.0M

▼ 128.9% YoY

In brief

What this company does

Wabash National Corporation designs, manufactures, and services a diverse range of products supporting first-to-final mile operations, including dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade processing equipment. As of December 31, 2025, it had approximately 4,700 Wabash employees, essentially all of whom were non-union throughout 2025. The Company manages its business in two operating and reportable segments: Transportation Solutions and Parts & Services. Wabash was founded in 1985 and incorporated as a corporation in Delaware in 1991, with its principal executive offices in Lafayette, Indiana, as a dry van trailer manufacturer.

Written from the business description in WABASH NATIONAL CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.5B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 1.5 · Net income 0.2

Compound annual growth

Revenue

−14.9%

+0.8%

−2.7%

+6.0%

Net income

+23.5%

+7.3%

EPS, diluted

+31.1%

+13.0%

Dividend / share

+0.0%

Returned to shareholders

−4.9%

−4.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +0.8% a year over five years.

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

14 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 19.9% · Net 13.7%

ROE

FY2025 · ROE 76.0%

Gross margin4.5%

Operating margin19.9%

Net margin13.7%

Return on assets16.4%

EBITDAUSD 355.1M

Each USD of equity produced 76 cents of profit this year.

Cash & shareholders

USD 13.8M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF -13.0

Net buybacks $M Dividends $M

FY2025 · Dividends 13.8 · Net buybacks —

Dividends paidUSD 13.8M

Net buybacks—

Share of profit6.5%

Consecutive raises—

USD 13.8M in dividends — 7% of the year's profit went back to shareholders.

Total assetsUSD 1.2B

EquityUSD 367.4M

CashUSD 31.9M

Gross debtUSD 442.9M

Net debtUSD 410.9M

Current ratio1.39×

Net debt stands at 112% of equity.

The 17-year record

17 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	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	1.5	1.9	2.5	2.5	1.8	1.5	2.3	2.3	1.8	1.8	2.0	1.9	1.6	1.5	1.2	0.6	0.3
Operating income $B	0.3	−0.4	0.3	0.2	0.0	−0.1	0.1	0.1	0.1	0.2	0.2	0.1	0.1	0.1	0.0	−0.0	−0.1
EBITDA $B	0.4	−0.3	0.3	0.2	0.1	−0.1	0.2	0.1	0.1	0.2	0.2	0.1	0.1	0.1	0.0	−0.0	·
Income tax $B	0.1	−0.1	0.1	0.0	0.0	−0.0	0.0	0.0	0.0	0.1	0.1	0.0	0.0	−0.1	0.0	−0.0	−0.0
Net income $B	0.2	−0.3	0.2	0.1	0.0	−0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.0	−0.1	−0.1
Free cash flow $B	−0.0	0.0	0.2	0.1	−0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0.1	0.1	−0.0	−0.0	−0.0
EPS, diluted $	5.07	−6.40	4.81	2.25	0.02	−1.84	1.62	1.19	1.78	1.82	1.50	0.85	0.67	1.53	0.22	−3.36	−3.48
Dividend / sh $	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.30	0.26	0.06	0.00	·	·	·	·	·	·
Payout %	7	−5	7	14	1412	−18	20	26	14	0	0	·	·	·	·	·	·
ROE %	76.0	−77.0	48.8	31.0	0.3	−21.0	18.0	14.2	22.8	26.2	25.1	17.1	15.7	50.9	10.9	−155.3	−190.3
Shares out B	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.07	·

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 · 1 failures in 82 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 13 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures

ActivityTruck Trailers

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009