Westinghouse Air Brake Technologies Corp
WAB- Exchange
- NYSE
- Industry
- Railroad Equipment
- SEC CIK
- 0000943452
In the last 90 days, Westinghouse Air Brake Technologies Corp insiders filed 0 open-market purchases and 6 sales; 1,201 institutions reported holding it in 13F filings for Q2 2026, worth $42.2B in total; Duquesne Family Office is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 22, 2026, 1:07 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 11, 2026 | Jan 14, 2025 | Feb 14, 2024 | Feb 15, 2023 | Feb 16, 2022 |
| Revenue | $11.2B | $10.4B | $9.68B | $8.36B | $7.82B |
| Cost of revenue | $7.36B | $7.02B | $6.73B | $5.82B | $5.45B |
| Gross profit | $3.81B | $3.37B | $2.94B | $2.54B | $2.37B |
| Operating expenses | $2.01B | $1.76B | $1.68B | $1.53B | $1.49B |
| Research and development | $223.0M | $206.0M | $218.0M | $209.0M | $176.0M |
| Selling, general and administrative | $1.49B | $1.25B | $1.14B | $1.03B | $1.03B |
| Operating income | $1.79B | $1.61B | $1.27B | $1.01B | $876.0M |
| Income tax | $409.0M | $343.0M | $267.0M | $213.0M | $172.0M |
| Net income | $1.17B | $1.06B | $815.0M | $633.0M | $558.0M |
| EPS, basic | $6.84 | $6.05 | $4.54 | $3.46 | $2.96 |
| EPS, diluted | $6.83 | $6.04 | $4.53 | $3.46 | $2.96 |
| Weighted shares, basic | 170.5M | 174.1M | 178.8M | 182.2M | 187.7M |
| Weighted shares, diluted | 171.1M | 174.8M | 179.5M | 182.8M | 188.1M |
| Margins and growth | |||||
| Gross margin | 34.1% | 32.4% | 30.4% | 30.4% | 30.3% |
| Operating margin | 16.1% | 15.5% | 13.1% | 12.1% | 11.2% |
| Net margin | 10.5% | 10.2% | 8.4% | 7.6% | 7.1% |
| Revenue growth, year over year | +7.5% | +7.3% | +15.7% | +6.9% | +3.5% |
| Net income growth, year over year | +10.8% | +29.6% | +28.8% | +13.4% | +34.7% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 11, 2026 | Jan 14, 2025 | Feb 14, 2024 | Feb 15, 2023 | Feb 16, 2022 |
| Cash and equivalents | – | – | – | – | $473.0M |
| Accounts receivable | $1.41B | $1.15B | $1.16B | $975.0M | $1.08B |
| Inventory | $2.75B | $2.31B | $2.28B | $2.03B | $1.69B |
| Total current assets | $5.69B | $4.94B | $4.86B | $4.33B | $3.83B |
| Property, plant and equipment | $1.62B | $1.45B | $1.49B | $1.43B | $1.50B |
| Goodwill | $10.2B | $8.71B | $8.78B | $8.51B | $8.59B |
| Intangible assets | $3.84B | $2.93B | $3.21B | $3.40B | $3.71B |
| Total assets | $22.1B | $18.7B | $19.0B | $18.5B | $18.5B |
| Accounts payable | $1.40B | $1.30B | $1.25B | $1.30B | $1.01B |
| Short-term debt | $1.25B | $500.0M | $781.0M | $251.0M | $2.00M |
| Total current liabilities | $5.15B | $3.79B | $4.06B | $3.47B | $2.91B |
| Long-term debt | $4.29B | $3.48B | $3.29B | $3.75B | $4.06B |
| Total liabilities | $10.9B | $8.57B | $8.46B | $8.37B | $8.21B |
| Shareholders' equity | $11.2B | $10.1B | $10.5B | $10.1B | $10.2B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 11, 2026 | Jan 14, 2025 | Feb 14, 2024 | Feb 15, 2023 | Feb 16, 2022 |
| Operating cash flow | $1.76B | $1.83B | $1.20B | $1.04B | $1.07B |
| Capital expenditures | $260.0M | $207.0M | $186.0M | $149.0M | $130.0M |
| Free cash flow | $1.50B | $1.63B | $1.01B | $889.0M | $943.0M |
| Depreciation and amortization | $501.0M | $503.0M | $531.0M | $479.0M | $491.0M |
| Stock-based compensation | $80.0M | $66.0M | $47.0M | $41.0M | $46.0M |
| Dividends paid | $173.0M | $140.0M | $123.0M | $111.0M | $92.0M |
| Share buybacks | $223.0M | $1.10B | $409.0M | $473.0M | $300.0M |
| Investing cash flow | -$2.75B | -$343.0M | -$492.0M | -$235.0M | -$540.0M |
| Financing cash flow | $1.03B | -$1.37B | -$633.0M | -$708.0M | -$653.0M |
| Net change in cash | $74.0M | $95.0M | $79.0M | $68.0M | -$126.0M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.7% | 0.6% | 0.5% | 0.5% | 0.6% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 16, 2026 | 167.8M | −1.8% | SEC |
| Jul 17, 2026 | 168.9M | −1.2% | SEC |
| Apr 17, 2026 | 169.7M | −0.8% | SEC |
| Feb 9, 2026 | 170.5M | −0.2% | SEC |
| Oct 17, 2025 | 171.0M | −0.5% | SEC |
| Jul 21, 2025 | 171.0M | −2.4% | SEC |
| Apr 18, 2025 | 171.1M | −3.0% | SEC |
| Feb 7, 2025 | 170.8M | −3.5% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.