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Westinghouse Air Brake Technologies Corp (WAB) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Construction Machinery & Heavy Transportation Equipment · DATA UPDATED 2026-07-14

Westinghouse Air Brake Technologies Corp (WAB) operates in the Construction Machinery & Heavy Transportation Equipment industry and is headquartered in Pittsburgh, United States with about 31,000 employees. Its market capitalization is roughly $51 billion. In the fiscal year ended 2025-12-31, WAB reported $11.2B in revenue and $1.2B in net income.

Westinghouse Air Brake Technologies Corporation provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates in two segments, Freight and Transit.

Interactive charts & full statements → Open the WAB valuation workbench →

WAB Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$11.5B	$11.2B	$10.4B	$9.7B	$8.4B	$7.8B	$7.6B	$8.2B	$4.4B	$3.9B	$2.9B	$3.3B	$3.0B	$2.6B	$2.4B	$2.0B	$1.5B	$1.4B	$1.6B	$1.4B	$1.1B
Gross Profit	$3.9B	$3.5B	$3.4B	$2.9B	$2.5B	$2.4B	$2.1B	$2.3B	$1.2B	$1.1B	$924M	$1.0B	$936M	$764M	$695M	$570M	$449M	$393M	$427M	$370M	$297M
Gross Margin %	33.8%	31.5%	32.4%	30.4%	30.4%	30.3%	28.3%	27.8%	28.3%	27.4%	31.5%	31.7%	30.7%	29.8%	29.0%	29.0%	29.8%	28.1%	27.1%	27.2%	27.3%
Operating Income (EBIT)	$1.9B	$1.9B	$1.6B	$1.3B	$1.0B	$876M	$745M	$663M	$473M	$421M	$457M	$608M	$527M	$437M	$392M	$271M	$203M	$180M	$213M	$180M	$130M
Operating Margin %	16.1%	16.7%	15.5%	13.1%	12.1%	11.2%	9.9%	8.1%	10.8%	10.8%	15.6%	18.4%	17.3%	17.0%	16.4%	13.8%	13.5%	12.8%	13.5%	13.2%	12.0%
Net Income	$1.2B	$1.2B	$1.1B	$815M	$633M	$558M	$414M	$327M	$295M	$262M	$305M	$399M	$352M	$292M	$252M	$170M	$123M	$115M	$131M	$110M	$85M
Net Margin %	10.5%	10.5%	10.2%	8.4%	7.6%	7.1%	5.5%	4.0%	6.8%	6.8%	10.4%	12.0%	11.6%	11.4%	10.5%	8.6%	8.2%	8.2%	8.3%	8.1%	7.8%
EBITDA	$2.3B	$2.3B	$2.1B	$1.8B	$1.5B	$1.4B	$1.1B	$985M	$589M	$533M	$533M	$667M	$587M	$488M	$436M	$315M	$241M	$216M	$242M	$209M	$156M
Earnings Per Share (EPS)	$7.08	$6.84	$6.04	$4.54	$3.46	$2.97	$2.17	$1.84	$3.06	$2.73	$3.35	$4.11	$3.63	$3.02	$2.60	$1.76	$1.28	$1.20	$1.34	$1.11	$0.86
Shares Outstanding (M)	171M	171M	175M	180M	183M	188M	190M	177M	96M	96M	91M	97M	97M	97M	97M	97M	96M	96M	98M	98M	98M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WAB Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$3.0B	$3.0B	$2.9B	$2.7B	$2.6B	$2.6B	$2.7B	$2.6B
Gross Profit	$1.1B	$889M	$1.0B	$938M	$900M	$797M	$880M	$874M
Gross Margin %	36.0%	30.0%	34.7%	34.7%	34.5%	30.9%	33.1%	33.1%
Operating Income (EBIT)	$517M	$373M	$491M	$472M	$474M	$334M	$433M	$430M
Operating Margin %	17.5%	12.6%	17.0%	17.4%	18.2%	12.9%	16.3%	16.3%
Net Income	$362M	$202M	$310M	$336M	$322M	$212M	$283M	$289M
Net Margin %	12.3%	6.8%	10.7%	12.4%	12.3%	8.2%	10.6%	10.9%
EBITDA	$581M	$495M	$640M	$601M	$582M	$455M	$553M	$540M
Earnings Per Share (EPS)	$2.12	$1.18	$1.81	$1.96	$1.88	$1.23	$1.63	$1.64
Shares Outstanding (M)	171M	171M	171M	171M	171M	172M	174M	176M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WAB Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.8B	$1.8B	$1.8B	$1.2B	$1.0B	$1.1B	$784M	$1.0B	$315M	$189M	$449M	$448M	$472M	$236M	$237M	$249M	$176M	$161M	$159M	$143M	$151M
Capital Expenditures (CapEx)	$290M	$260M	$207M	$186M	$149M	$130M	$136M	$185M	$93M	$89M	$50M	$49M	$48M	$41M	$36M	$38M	$21M	$18M	$20M	$20M	$21M
Free Cash Flow (FCF)	$1.5B	$1.5B	$1.6B	$1.0B	$889M	$943M	$647M	$830M	$221M	$99M	$399M	$399M	$425M	$194M	$201M	$211M	$155M	$142M	$140M	$122M	$130M
FCF Margin %	12.8%	13.4%	15.7%	10.5%	10.6%	12.1%	8.6%	10.1%	5.1%	2.6%	13.6%	12.1%	14.0%	7.6%	8.4%	10.7%	10.3%	10.2%	8.9%	9.0%	12.0%
Dividends Paid	$183M	$173M	$140M	$123M	$111M	$92M	$92M	$82M	$46M	$42M	$32M	$27M	$19M	$13M	$8M	$4M	$2M	$2M	$2M	$2M	$2M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WAB Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$199M	$992M	$367M	$209M	$191M	$723M	$542M	$235M
Capital Expenditures (CapEx)	$46M	$122M	$83M	$39M	$44M	$84M	$46M	$46M
Free Cash Flow (FCF)	$153M	$870M	$284M	$170M	$147M	$639M	$496M	$189M
FCF Margin %	5.2%	29.3%	9.8%	6.3%	5.6%	24.7%	18.6%	7.1%
Dividends Paid	$53M	$43M	$43M	$44M	$43M	$34M	$35M	$35M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WAB Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$23.2B	$22.1B	$18.7B	$19.0B	$18.5B	$18.5B	$18.5B	$18.9B	$8.6B	$6.6B	$6.6B	$3.3B	$3.3B	$2.8B	$2.4B	$2.2B	$1.8B	$1.6B	$1.5B	$1.2B	$973M
Cash & Cash Equivalents	$531M	$789M	$706M	$620M	$541M	$473M	$599M	$604M	$581M	$233M	$398M	$226M	$426M	$286M	$216M	$286M	$237M	$189M	$142M	$235M	$188M
Total Liabilities	$12.0B	$10.9B	$8.6B	$8.5B	$8.4B	$8.2B	$8.3B	$8.9B	$5.8B	$3.8B	$3.6B	$1.6B	$1.5B	$1.2B	$1.1B	$1.1B	$900M	$807M	$862M	$541M	$503M
Total Debt (Short + Long-Term)	$6.6B	$5.5B	$4.0B	$4.1B	$4.0B	$4.1B	$4.2B	$4.4B	$3.9B	$1.9B	$1.9B	$692M	$521M	$451M	$318M	$396M	$422M	$392M	$387M	$150M	$151M
Total Shareholders' Equity	$11.2B	$11.1B	$10.1B	$10.5B	$10.1B	$10.2B	$10.2B	$10.0B	$2.9B	$2.8B	$2.2B	$1.7B	$1.8B	$1.6B	$1.3B	$1.0B	$900M	$777M	$645M	$617M	$470M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive WAB viewer.

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