Westinghouse AIR Brake Technologies Corp. (WAB)

Name: Westinghouse AIR Brake Technologies Corp. (WAB): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

Compare with another name

Westinghouse AIR Brake Technologies Corp. (WAB) reported revenue of $3.2 billion for Q2 FY2026, the quarter ended 30 June 2026, up 17.5% on the same quarter a year earlier. Net income was $395 million, up 17.6% on the year, and diluted earnings per share $2.33. The figures are the company's own, from the 10-Q it filed with the SEC on 22 July 2026.

Revenue$3.2 billionup 17.5%

Net income$395 millionup 17.6%

Diluted EPS$2.33

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE11.3%

ROCE11.0%

Operating margin16.4%

Net margin10.6%

FCF margin14.3%

Interest cover6.92

Debt to equity0.59

Cash conversion1.58

Share count, 1 year-1.1%

Sales CAGR, 3 years10.1%

Profit CAGR, 3 years22.7%

EPS, TTM$7.44

At the close of 21 September 2026

Price$283.38

Market cap$47.9 billion

Stock P/E38.09

Price to book4.27

EV / EBITDA21.44

Dividend yield0.4%

Market cap / sales4.00

52-week high$305.79

52-week low$191.03

Price, 1 year50.2%

Price CAGR, 3 years38.7%

Price CAGR, 5 years26.7%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Westinghouse AIR Brake Technologies Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Show

50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on WAB

Filings	15 in twelve months: 6 current reports (8-K), about 5 regulation fd disclosure; 4 results of operations; 1 shareholder vote
Planned insider sales	29 Form 144 notices in twelve months, $44.6 million; latest 1 September 2026
Options tape	put/call 1.5 by open interest on 23 September 2026; the straddle prices a 4.9% move to 16 October 2026
Holders	9 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading	81 sales and 0 purchases on Form 4 in twelve months
Congress	9 House trades disclosed in six months
Short interest	3.3 million shares short, 4.03 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	2,550	2,526	2,497	2,644	2,663	2,583	2,610	2,706	2,886	2,965	2,950	3,179
Cost of revenue	1,758	1,762	1,682	1,770	1,783	1,786	1,710	1,768	1,884	1,999	1,889	2,018
Gross profit	792	764	815	874	880	797	900	938	1,002	966	1,061	1,161
Gross margin	31%	30%	33%	33%	33%	31%	34%	35%	35%	33%	36%	37%
R&D	53.0	61.0	48.0	57.0	50.0	51.0	46.0	50.0	59.0	68.0	56.0	70.0
SG&A	295	296	281	316	318	333	307	347	375	461	401	400
Operating income	370	308	412	430	433	334	474	472	491	356	517	600
Operating margin	15%	12%	16%	16%	16%	13%	18%	17%	17%	12%	18%	19%
Interest expense	n/a	n/a	47.0	49.0	52.0	53.0	46.0	46.0	65.0	68.0	71.0	80.0
Pre-tax income	320	280	363	385	378	284	426	450	425	291	469	518
Tax rate	24%	22%	24%	24%	24%	25%	23%	25%	26%	30%	23%	24%
Net income	240	215	272	289	283	212	322	336	310	202	362	395
Net margin	9%	9%	11%	11%	11%	8%	12%	12%	11%	7%	12%	12%
Diluted EPS	$1.33	$1.21	$1.53	$1.64	$1.63	$1.24	$1.88	$1.96	$1.81	$1.18	$2.12	$2.33
Operating cash flow	425	686	334	235	542	723	191	209	367	992	199	441
Capital expenditure	39.0	77.0	31.0	46.0	46.0	84.0	44.0	39.0	55.0	122	46.0	62.0
Free cash flow	386	609	303	189	496	639	147	170	312	870	153	379
Buybacks	0.0	157	175	200	599	123	98.0	50.0	0.0	75.0	242	215
Dividends paid	30.0	31.0	36.0	35.0	35.0	34.0	43.0	44.0	43.0	43.0	53.0	53.0
Shares outstanding	179m	178m	177m	176m	172m	171m	171m	171m	171m	171m	170m	169m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014	FY2015 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Revenue	3,044	3,308	2,931	3,882	4,364	8,200	7,556	7,822	8,362	9,677	10,387	11,167	11,980
Cost of revenue	2,108	2,260	2,007	2,816	3,130	5,922	5,419	5,453	5,822	6,733	7,021	7,361	7,790
Gross profit	936	1,048	924	1,065	1,234	2,278	2,137	2,369	2,540	2,944	3,366	3,806	4,190
Gross margin	30.7%	31.7%	31.5%	27.4%	28.3%	27.8%	28.3%	30.3%	30.4%	30.4%	32.4%	34.1%	35.0%
Research and development	61.9	71.2	71.4	95.2	87.5	210	162	176	209	218	206	223	253
Selling, general and administrative	325	347	374	512	633	1,167	948	1,030	1,029	1,139	1,248	1,490	1,637
Operating income	527	608	457	422	473	663	744	876	1,011	1,266	1,609	1,793	1,964
Operating margin	17.3%	18.4%	15.6%	10.9%	10.8%	8.1%	9.9%	11.2%	12.1%	13.1%	15.5%	16.1%	16.4%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	186	218	201	225	284
Pre-tax income	508	585	413	352	368	447	557	737	854	1,092	1,410	1,592	1,703
Income tax	156	187	99.4	89.8	75.9	120	145	172	213	267	343	409	427
Effective tax rate	30.8%	31.9%	24.1%	25.5%	20.6%	26.9%	26.0%	23.3%	24.9%	24.5%	24.3%	25.7%	25.1%
Net income	352	399	305	262	295	327	414	558	633	815	1,056	1,170	1,269
Net margin	11.6%	12.1%	10.4%	6.8%	6.8%	4.0%	5.5%	7.1%	7.6%	8.4%	10.2%	10.5%	10.6%
Diluted EPS	$3.62	$4.10	$3.34	$2.72	$3.05	$1.84	$2.17	$2.96	$3.46	$4.53	$6.04	$6.83	$7.44
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014	FY2015 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Operating cash flow	472	451	451	189	315	1,016	784	1,073	1,038	1,201	1,834	1,759	1,999
Capital expenditure	47.7	49.4	50.2	89.5	93.3	186	136	130	149	186	207	260	285
Free cash flow	425	401	400	99.3	221	830	648	943	889	1,015	1,627	1,499	1,714
Free cash flow margin	14.0%	12.1%	13.7%	2.6%	5.1%	10.1%	8.6%	12.1%	10.6%	10.5%	15.7%	13.4%	14.3%
Depreciation and amortisation	61.3	64.7	69.8	103	109	401	473	491	479	531	503	501	546
Share-based compensation	26.1	26.0	20.8	21.3	25.3	50.0	20.0	46.0	41.0	47.0	66.0	80.0	100
Buybacks	26.8	388	212	0.0	0.0	0.0	207	300	473	409	1,097	223	532
Dividends paid	19.2	27.0	32.4	42.2	46.3	82.0	93.0	92.0	111	123	140	173	192
Dividend per share	$0.20	$0.28	$0.36	$0.44	$0.48	$0.48	$0.48	$0.48	$0.60	$0.68	$0.80	$1.00	n/a
Diluted shares, weighted	97m	97m	91m	96m	96m	177m	190m	188m	183m	180m	175m	171m	170m
Shares outstanding at period end	96m	92m	95m	96m	97m	192m	189m	186m	181m	178m	171m	171m	169m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014	FY2015 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Total assets	3,304	3,230	6,581	6,580	8,649	18,944	18,454	18,454	18,516	18,988	18,702	22,069	23,128
Cash and equivalents	426	226	398	233	581	604	599	473	541	620	715	789	670
Receivables	443	495	668	801	801	1,150	969	1,085	975	1,160	1,152	1,410	1,720
Inventory	511	479	659	743	845	1,773	1,642	1,689	2,034	2,284	2,314	2,745	2,857
Goodwill	862	859	2,079	2,460	2,397	8,361	8,485	8,587	8,508	8,780	8,710	10,216	10,603
Long-term debt	n/a	n/a	n/a	n/a	3,857	4,429	4,239	4,058	4,002	4,069	3,980	5,541	6,571
Long-term debt including finance leases	520	692	1,763	1,823	3,793	4,334	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Borrowings, as the company tags them	n/a	n/a	n/a	n/a	n/a	n/a	n/a	4,081	4,023	4,084	3,995	5,567	n/a
Shareholders' equity	1,807	1,700	2,206	2,809	2,865	9,956	10,122	10,201	10,102	10,487	10,091	11,142	11,214
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	12.9%	8.1%	10.1%	13.4%
Profit growth, compounded	11.4%	23.1%	22.7%	10.1%
Return on equity, average	8.1%	8.1%	9.6%	10.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	22 July 2026	EDGAR
10-Q	31 March 2026	22 April 2026	EDGAR
10-K	31 December 2025	13 February 2026	EDGAR
10-Q	30 September 2025	22 October 2025	EDGAR
10-Q	30 June 2025	24 July 2025	EDGAR
10-Q	31 March 2025	23 April 2025	EDGAR
10-K	31 December 2024	12 February 2025	EDGAR
10-Q	30 September 2024	23 October 2024	EDGAR
10-Q	30 June 2024	24 July 2024	EDGAR
10-Q	31 March 2024	24 April 2024	EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install