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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 2026-09-13

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 $47 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.

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WAB Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	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	$12.0B	$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	$4.1B	$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 %	34.3%	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)	$2.0B	$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 %	16.5%	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	$1.3B	$1.2B	$1.1B	$815M	$633M	$558M	$414M	$327M	$295M	$262M	$305M	$399M	$352M	$292M	$252M	$170M	$123M	$115M	$131M	$110M	$85M
Net Margin %	10.6%	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	$2.4B	$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)	$7.43	$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)	170M	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	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$3.2B	$3.0B	$3.0B	$2.9B	$2.7B	$2.6B	$2.6B	$2.7B
Gross Profit	$1.2B	$1.1B	$889M	$1.0B	$938M	$900M	$797M	$880M
Gross Margin %	36.5%	36.0%	30.0%	34.7%	34.7%	34.5%	30.9%	33.1%
Operating Income (EBIT)	$600M	$517M	$373M	$491M	$472M	$474M	$334M	$433M
Operating Margin %	18.9%	17.5%	12.6%	17.0%	17.4%	18.2%	12.9%	16.3%
Net Income	$395M	$362M	$202M	$310M	$336M	$322M	$212M	$283M
Net Margin %	12.4%	12.3%	6.8%	10.7%	12.4%	12.3%	8.2%	10.6%
EBITDA	$731M	$581M	$495M	$640M	$601M	$582M	$455M	$553M
Earnings Per Share (EPS)	$2.32	$2.12	$1.18	$1.81	$1.96	$1.88	$1.23	$1.63
Shares Outstanding (M)	170M	171M	171M	171M	171M	171M	172M	174M

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

WAB Free Cash Flow History

Cash flow	TTM → 2026-06-30	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)	$2.0B	$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)	$313M	$260M	$207M	$186M	$149M	$130M	$136M	$185M	$93M	$89M	$50M	$49M	$48M	$41M	$36M	$38M	$21M	$18M	$20M	$20M	$21M
Free Cash Flow (FCF)	$1.7B	$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 %	14.1%	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	$192M	$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	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$441M	$199M	$992M	$367M	$209M	$191M	$723M	$542M
Capital Expenditures (CapEx)	$62M	$46M	$122M	$83M	$39M	$44M	$84M	$46M
Free Cash Flow (FCF)	$379M	$153M	$870M	$284M	$170M	$147M	$639M	$496M
FCF Margin %	11.9%	5.2%	29.3%	9.8%	6.3%	5.6%	24.7%	18.6%
Dividends Paid	$53M	$53M	$43M	$43M	$44M	$43M	$34M	$35M

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

WAB Balance Sheet History

Balance sheet	2026-06-30	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	$23.1B	$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	$670M	$789M	$706M	$620M	$541M	$473M	$599M	$604M	$581M	$233M	$398M	$226M	$426M	$286M	$216M	$286M	$237M	$189M	$142M	$235M	$188M
Total Liabilities	$11.9B	$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.

WAB Metric Deep Dives

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