W

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION

WAB · CIK 0000943452

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$11.17B7.5%
FY2025
Net income (FY)
$1.17B10.8%
FY2025
Free cash flow (FY)
$1.50B7.9%
FY2025
Diluted EPS (FY)
$6.8313.1%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10BFY2008 · Revenue $1.57B · Net income $130.6M · 0001193125-11-046939 · filed 2011-02-25FY08Revenue $1.57BNet income $130.6M0001193125-11-046939 · filed 2011-02-25FY2009 · Revenue $1.40B · Net income $115.1M · 0001193125-12-077488 · filed 2012-02-24FY09Revenue $1.40BNet income $115.1M0001193125-12-077488 · filed 2012-02-24FY2010 · Revenue $1.51B · Net income $123.1M · 0001193125-13-071115 · filed 2013-02-22FY10Revenue $1.51BNet income $123.1M0001193125-13-071115 · filed 2013-02-22FY2011 · Revenue $1.97B · Net income $170.1M · 0001193125-13-071115 · filed 2013-02-22 · 0001564590-14-000306 · filed 2014-02-21FY11Revenue $1.97BNet income $170.1M0001193125-13-071115 · filed 2013-02-22 · 0001564590-14-000306 · filed 2014-02-21FY2012 · Revenue $2.39B · Net income $251.7M · 0001193125-13-071115 · filed 2013-02-22 · 0001564590-15-000794 · filed 2015-02-20FY12Revenue $2.39BNet income $251.7M0001193125-13-071115 · filed 2013-02-22 · 0001564590-15-000794 · filed 2015-02-20FY2013 · Revenue $2.57B · Net income $292.2M · 0001628280-16-011421 · filed 2016-02-19FY13Revenue $2.57BNet income $292.2M0001628280-16-011421 · filed 2016-02-19FY2014 · Revenue $3.04B · Net income $351.7M · 0001628280-17-001863 · filed 2017-02-28FY14Revenue $3.04BNet income $351.7M0001628280-17-001863 · filed 2017-02-28FY2015 · Revenue $3.31B · Net income $398.6M · 0001628280-18-002245 · filed 2018-02-26FY15Revenue $3.31BNet income $398.6M0001628280-18-002245 · filed 2018-02-26FY2016 · Revenue $2.93B · Net income $304.9M · 0001628280-19-002095 · filed 2019-02-27FY16Revenue $2.93BNet income $304.9M0001628280-19-002095 · filed 2019-02-27FY2017 · Revenue $3.88B · Net income $262.3M · 0001628280-20-002098 · filed 2020-02-24FY17Revenue $3.88BNet income $262.3M0001628280-20-002098 · filed 2020-02-24FY2018 · Revenue $4.36B · Net income $294.9M · 0001628280-21-002557 · filed 2021-02-19FY18Revenue $4.36BNet income $294.9M0001628280-21-002557 · filed 2021-02-19FY2019 · Revenue $8.20B · Net income $327.0M · 0001628280-22-002997 · filed 2022-02-17FY19Revenue $8.20BNet income $327.0M0001628280-22-002997 · filed 2022-02-17FY2020 · Revenue $7.56B · Net income $414.0M · 0001628280-23-003675 · filed 2023-02-15FY20Revenue $7.56BNet income $414.0M0001628280-23-003675 · filed 2023-02-15FY2021 · Revenue $7.82B · Net income $558.0M · 0001628280-24-004774 · filed 2024-02-14FY21Revenue $7.82BNet income $558.0M0001628280-24-004774 · filed 2024-02-14FY2022 · Revenue $8.36B · Net income $633.0M · 0001628280-25-005100 · filed 2025-02-12FY22Revenue $8.36BNet income $633.0M0001628280-25-005100 · filed 2025-02-12FY2023 · Revenue $9.68B · Net income $815.0M · 0001628280-26-008067 · filed 2026-02-13FY23Revenue $9.68BNet income $815.0M0001628280-26-008067 · filed 2026-02-13FY2024 · Revenue $10.39B · Net income $1.06B · 0001628280-26-008067 · filed 2026-02-13FY24Revenue $10.39BNet income $1.06B0001628280-26-008067 · filed 2026-02-13FY2025 · Revenue $11.17B · Net income $1.17B · 0001628280-26-008067 · filed 2026-02-13FY25Revenue $11.17BNet income $1.17B0001628280-26-008067 · filed 2026-02-13FY25Revenue $11.17BNet income $1.17B0001628280-26-008067 · filed 2026-02-13FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 7.1× since FY2008 · net margin 8.3% → 10.5%

MarginsNet marginFCF margin
0%5%10%15%FY2008 · Net margin 8.3% · FCF margin 8.6%FY08Net margin 8.3%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 8.2% · FCF margin 10.3%FY09Net margin 8.2%FCF margin 10.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 8.2% · FCF margin 10.3%FY10Net margin 8.2%FCF margin 10.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 8.6% · FCF margin 10.7%FY11Net margin 8.6%FCF margin 10.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 10.5% · FCF margin 8.4%FY12Net margin 10.5%FCF margin 8.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 11.4% · FCF margin 7.6%FY13Net margin 11.4%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 11.6% · FCF margin 14.0%FY14Net margin 11.6%FCF margin 14.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 12.1% · FCF margin 12.1%FY15Net margin 12.1%FCF margin 12.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 10.4% · FCF margin 13.7%FY16Net margin 10.4%FCF margin 13.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 6.8% · FCF margin 2.6%FY17Net margin 6.8%FCF margin 2.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 6.8% · FCF margin 5.1%FY18Net margin 6.8%FCF margin 5.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 4.0% · FCF margin 10.1%FY19Net margin 4.0%FCF margin 10.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 5.5% · FCF margin 8.6%FY20Net margin 5.5%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 7.1% · FCF margin 12.1%FY21Net margin 7.1%FCF margin 12.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 7.6% · FCF margin 10.6%FY22Net margin 7.6%FCF margin 10.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 8.4% · FCF margin 10.5%FY23Net margin 8.4%FCF margin 10.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 10.2% · FCF margin 15.7%FY24Net margin 10.2%FCF margin 15.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 10.5% · FCF margin 13.4%FY25Net margin 10.5%FCF margin 13.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 10.5%FCF margin 13.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 10.5% · free cash flow 13.4% of revenue

Cash engineOperating cash flowFree cash flow
$0$500M$1B$1.5BFY2008 · OCF $155.8M · FCF $136.1M · 0001193125-11-046939 · filed 2011-02-25FY08OCF $155.8MFCF $136.1M0001193125-11-046939 · filed 2011-02-25FY2009 · OCF $162.3M · FCF $144.0M · 0001193125-12-077488 · filed 2012-02-24FY09OCF $162.3MFCF $144.0M0001193125-12-077488 · filed 2012-02-24FY2010 · OCF $176.1M · FCF $155.3M · 0001193125-13-071115 · filed 2013-02-22FY10OCF $176.1MFCF $155.3M0001193125-13-071115 · filed 2013-02-22FY2011 · OCF $248.6M · FCF $210.7M · 0001564590-14-000306 · filed 2014-02-21FY11OCF $248.6MFCF $210.7M0001564590-14-000306 · filed 2014-02-21FY2012 · OCF $237.4M · FCF $201.4M · 0001564590-14-000306 · filed 2014-02-21FY12OCF $237.4MFCF $201.4M0001564590-14-000306 · filed 2014-02-21FY2013 · OCF $235.7M · FCF $194.4M · 0001564590-14-000306 · filed 2014-02-21FY13OCF $235.7MFCF $194.4M0001564590-14-000306 · filed 2014-02-21FY2014 · OCF $472.4M · FCF $424.7M · 0001628280-17-001863 · filed 2017-02-28FY14OCF $472.4MFCF $424.7M0001628280-17-001863 · filed 2017-02-28FY2015 · OCF $450.8M · FCF $401.4M · 0001628280-18-002245 · filed 2018-02-26FY15OCF $450.8MFCF $401.4M0001628280-18-002245 · filed 2018-02-26FY2016 · OCF $450.5M · FCF $400.3M · 0001628280-19-002095 · filed 2019-02-27FY16OCF $450.5MFCF $400.3M0001628280-19-002095 · filed 2019-02-27FY2017 · OCF $188.8M · FCF $99.3M · 0001628280-20-002098 · filed 2020-02-24FY17OCF $188.8MFCF $99.3M0001628280-20-002098 · filed 2020-02-24FY2018 · OCF $314.7M · FCF $221.4M · 0001628280-21-002557 · filed 2021-02-19FY18OCF $314.7MFCF $221.4M0001628280-21-002557 · filed 2021-02-19FY2019 · OCF $1.02B · FCF $830.0M · 0001628280-22-002997 · filed 2022-02-17FY19OCF $1.02BFCF $830.0M0001628280-22-002997 · filed 2022-02-17FY2020 · OCF $784.0M · FCF $648.0M · 0001628280-23-003675 · filed 2023-02-15FY20OCF $784.0MFCF $648.0M0001628280-23-003675 · filed 2023-02-15FY2021 · OCF $1.07B · FCF $943.0M · 0001628280-24-004774 · filed 2024-02-14FY21OCF $1.07BFCF $943.0M0001628280-24-004774 · filed 2024-02-14FY2022 · OCF $1.04B · FCF $889.0M · 0001628280-25-005100 · filed 2025-02-12FY22OCF $1.04BFCF $889.0M0001628280-25-005100 · filed 2025-02-12FY2023 · OCF $1.20B · FCF $1.01B · 0001628280-26-008067 · filed 2026-02-13FY23OCF $1.20BFCF $1.01B0001628280-26-008067 · filed 2026-02-13FY2024 · OCF $1.83B · FCF $1.63B · 0001628280-26-008067 · filed 2026-02-13FY24OCF $1.83BFCF $1.63B0001628280-26-008067 · filed 2026-02-13FY2025 · OCF $1.76B · FCF $1.50B · 0001628280-26-008067 · filed 2026-02-13FY25OCF $1.76BFCF $1.50B0001628280-26-008067 · filed 2026-02-13FY25OCF $1.76BFCF $1.50B0001628280-26-008067 · filed 2026-02-13’09’13’17’21’25

FY2025: $1.76B operating cash − $260.0M capex = $1.50B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%FY2009 · ROE 14.8% · ROA 7.3%FY09ROE 14.8%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 13.7% · ROA 6.8%FY10ROE 13.7%ROA 6.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 16.3% · ROA 7.9%FY11ROE 16.3%ROA 7.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 19.7% · ROA 10.7%FY12ROE 19.7%ROA 10.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 18.4% · ROA 10.4%FY13ROE 18.4%ROA 10.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 19.5% · ROA 10.6%FY14ROE 19.5%ROA 10.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 23.5% · ROA 12.3%FY15ROE 23.5%ROA 12.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 13.8% · ROA 4.6%FY16ROE 13.8%ROA 4.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 9.3% · ROA 4.0%FY17ROE 9.3%ROA 4.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 10.3% · ROA 3.4%FY18ROE 10.3%ROA 3.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 3.3% · ROA 1.7%FY19ROE 3.3%ROA 1.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 4.1% · ROA 2.2%FY20ROE 4.1%ROA 2.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 5.5% · ROA 3.0%FY21ROE 5.5%ROA 3.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 6.3% · ROA 3.4%FY22ROE 6.3%ROA 3.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 7.8% · ROA 4.3%FY23ROE 7.8%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 10.5% · ROA 5.6%FY24ROE 10.5%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 10.5% · ROA 5.3%FY25ROE 10.5%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 10.5%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 15% (FY2009) → 11% (FY2025) · on assets 5.3%

Balance sheetLiabilitiesEquity
$0$10B$20BFY2009 · Liabilities $806.9M · Equity $776.9MFY09Liabilities $806.9MEquity $776.9M0001193125-11-046939 · filed 2011-02-25FY2010 · Liabilities $899.7M · Equity $899.8MFY10Liabilities $899.7MEquity $899.8M0001193125-12-077488 · filed 2012-02-24FY2011 · Liabilities $1.11B · Equity $1.05BFY11Liabilities $1.11BEquity $1.05B0001193125-13-071115 · filed 2013-02-22FY2012 · Liabilities $1.07B · Equity $1.28BFY12Liabilities $1.07BEquity $1.28B0001564590-14-000306 · filed 2014-02-21FY2013 · Liabilities $1.23B · Equity $1.59BFY13Liabilities $1.23BEquity $1.59B0001564590-15-000794 · filed 2015-02-20FY2014 · Liabilities $1.50B · Equity $1.81BFY14Liabilities $1.50BEquity $1.81B0001628280-16-011421 · filed 2016-02-19FY2015 · Liabilities $1.53B · Equity $1.70BFY15Liabilities $1.53BEquity $1.70B0001628280-17-001863 · filed 2017-02-28FY2016 · Liabilities $3.60B · Equity $2.21BFY16Liabilities $3.60BEquity $2.21B0001628280-18-002245 · filed 2018-02-26FY2017 · Liabilities $3.75B · Equity $2.81BFY17Liabilities $3.75BEquity $2.81B0001628280-19-002095 · filed 2019-02-27FY2018 · Liabilities $5.78B · Equity $2.87BFY18Liabilities $5.78BEquity $2.87B0001628280-20-002098 · filed 2020-02-24FY2019 · Liabilities $8.95B · Equity $9.96BFY19Liabilities $8.95BEquity $9.96B0001628280-21-002557 · filed 2021-02-19FY2020 · Liabilities $8.30B · Equity $10.12BFY20Liabilities $8.30BEquity $10.12B0001628280-22-002997 · filed 2022-02-17FY2021 · Liabilities $8.21B · Equity $10.20BFY21Liabilities $8.21BEquity $10.20B0001628280-23-003675 · filed 2023-02-15FY2022 · Liabilities $8.37B · Equity $10.10BFY22Liabilities $8.37BEquity $10.10B0001628280-24-004774 · filed 2024-02-14FY2023 · Liabilities $8.46B · Equity $10.49BFY23Liabilities $8.46BEquity $10.49B0001628280-25-005100 · filed 2025-02-12FY2024 · Liabilities $8.57B · Equity $10.09BFY24Liabilities $8.57BEquity $10.09B0001628280-26-008067 · filed 2026-02-13FY2025 · Liabilities $10.88B · Equity $11.14BFY25Liabilities $10.88BEquity $11.14B0001628280-26-008067 · filed 2026-02-13FY25Liabilities $10.88BEquity $11.14B0001628280-26-008067 · filed 2026-02-13’09’13’17’21’25

FY2025: $22.07B assets · $10.88B liabilities · $11.14B equity

The receipts