Westinghouse Air Brake Technologies (WAB) Financials

$173.33 +1.58 (+0.92%)

As of 03:58 PM Eastern

Annual Income Statements for Westinghouse Air Brake Technologies

This table shows Westinghouse Air Brake Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	399	305	262	295	327	414	558	633	815	1,056
Consolidated Net Income / (Loss)	399	313	262	292	327	412	565	641	825	1,067
Net Income / (Loss) Continuing Operations	399	313	262	292	327	412	565	641	825	1,067
Total Pre-Tax Income	585	413	352	368	447	557	737	854	1,092	1,410
Total Operating Income	608	457	421	473	663	745	876	1,011	1,266	1,609
Total Gross Profit	1,048	924	1,065	1,234	2,278	2,137	2,369	2,540	2,944	3,366
Total Revenue	3,308	2,931	3,882	4,364	8,200	7,556	7,822	8,362	9,677	10,387
Operating Revenue	3,308	2,931	3,882	4,364	8,200	7,556	7,822	8,362	9,677	10,387
Total Cost of Revenue	2,260	2,007	2,816	3,130	5,922	5,419	5,453	5,822	6,733	7,021
Operating Cost of Revenue	2,260	2,007	2,816	3,130	5,922	5,419	5,453	5,822	6,733	7,021
Total Operating Expenses	440	468	644	761	1,615	1,392	1,493	1,529	1,678	1,757
Selling, General & Admin Expense	347	374	513	633	1,167	948	1,030	1,029	1,139	1,248
Research & Development Expense	71	71	95	88	210	162	176	209	218	206
Amortization Expense	22	23	37	40	238	282	287	291	321	303
Total Other Income / (Expense), net	-22	-44	-69	-106	-216	-188	-139	-157	-174	-199
Interest Expense	17	50	78	112	219	199	177	186	218	201
Other Income / (Expense), net	-5.31	6.53	8.90	6.40	3.00	11	38	29	44	2.00
Income Tax Expense	187	99	90	76	120	145	172	213	267	343
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	8.52	0.00	-3.20	0.00	-2.00	7.00	8.00	10	11
Basic Earnings per Share	$4.14	$3.37	$2.74	$3.06	$1.91	$2.18	$2.96	$3.46	$4.54	$6.05
Weighted Average Basic Shares Outstanding	96.07M	90.36M	95.50M	96M	170.50M	189.90M	187.70M	182.20M	178.80M	174.10M
Diluted Earnings per Share	$4.10	$3.34	$2.72	$3.05	$1.84	$2.17	$2.96	$3.46	$4.53	$6.04
Weighted Average Diluted Shares Outstanding	97.01M	91.14M	96.10M	96.50M	177.30M	190.40M	188.10M	182.80M	179.50M	174.80M
Weighted Average Basic & Diluted Shares Outstanding	96.30M	90.50M	95.70M	96.40M	383.42M	188.90M	185.29M	180.35M	177.03M	170.85M
Cash Dividends to Common per Share	$0.28	$0.36	$0.44	$0.48	$0.48	$0.48	$0.48	$0.60	$0.68	$0.80

This table shows Westinghouse Air Brake Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	160	158	169	191	240	215	272	289	283	212
Consolidated Net Income / (Loss)	163	159	173	193	242	217	277	291	286	213
Net Income / (Loss) Continuing Operations	163	159	173	193	242	217	277	291	286	213
Total Pre-Tax Income	217	210	233	259	320	280	363	385	378	284
Total Operating Income	261	247	276	312	370	308	412	430	433	334
Total Gross Profit	648	652	665	723	792	764	815	874	880	797
Total Revenue	2,081	2,306	2,194	2,407	2,550	2,526	2,497	2,644	2,663	2,583
Operating Revenue	2,081	2,306	2,194	2,407	2,550	2,526	2,497	2,644	2,663	2,583
Total Cost of Revenue	1,433	1,654	1,529	1,684	1,758	1,762	1,682	1,770	1,783	1,786
Operating Cost of Revenue	1,433	1,654	1,529	1,684	1,758	1,762	1,682	1,770	1,783	1,786
Total Operating Expenses	387	405	389	411	422	456	403	444	447	463
Selling, General & Admin Expense	260	272	263	285	295	296	281	316	318	333
Research & Development Expense	54	60	51	53	53	61	48	57	50	51
Amortization Expense	73	73	75	73	74	99	74	71	79	79
Total Other Income / (Expense), net	-44	-37	-43	-53	-50	-28	-49	-45	-55	-50
Other Income / (Expense), net	4.00	14	5.00	2.00	10	27	-2.00	4.00	-3.00	3.00
Income Tax Expense	54	51	60	66	78	63	86	94	92	71
Net Income / (Loss) Attributable to Noncontrolling Interest	3.00	1.00	4.00	2.00	2.00	2.00	5.00	2.00	3.00	1.00
Basic Earnings per Share	$0.88	$0.87	$0.94	$1.06	$1.34	$1.20	$1.54	$1.64	$1.63	$1.24
Weighted Average Basic Shares Outstanding	181.30M	182.20M	179.90M	178.90M	178.60M	178.80M	176.50M	175.40M	173.40M	174.10M
Diluted Earnings per Share	$0.88	$0.87	$0.93	$1.06	$1.33	$1.21	$1.53	$1.64	$1.63	$1.24
Weighted Average Diluted Shares Outstanding	181.90M	182.80M	180.60M	179.40M	179.20M	179.50M	177.20M	176M	174.10M	174.80M
Weighted Average Basic & Diluted Shares Outstanding	181.87M	180.35M	179.87M	179.13M	179.16M	177.03M	176.38M	175.18M	171.89M	170.85M

This table details how cash moves in and out of Westinghouse Air Brake Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-200	714	-942	2,109	-1,738	-5.00	-126	68	79	95
Net Cash From Operating Activities	451	451	189	315	1,016	784	1,073	1,038	1,201	1,834
Net Cash From Continuing Operating Activities	451	451	189	315	1,016	784	1,073	1,038	1,201	1,834
Net Income / (Loss) Continuing Operations	399	313	262	292	327	412	565	641	825	1,067
Consolidated Net Income / (Loss)	399	313	262	292	327	412	565	641	825	1,067
Depreciation Expense	65	70	103	109	401	473	491	479	531	503
Amortization Expense	-	-	0.00	0.00	-82	-88	-50	-53	-54	-44
Non-Cash Adjustments To Reconcile Net Income	27	21	23	26	66	30	42	44	54	70
Changes in Operating Assets and Liabilities, net	-39	46	-200	-113	304	-43	25	-73	-155	238
Net Cash From Investing Activities	-380	-233	-1,034	-147	-3,178	-155	-540	-235	-492	-343
Net Cash From Continuing Investing Activities	-380	-233	-1,034	-147	-3,178	-155	-540	-235	-492	-343
Purchase of Property, Plant & Equipment	-49	-50	-90	-93	-186	-136	-130	-149	-186	-207
Acquisitions	-130	-183	-945	-51	-2,996	-40	-435	-89	-308	-168
Sale of Property, Plant & Equipment	1.78	0.36	1.30	11	4.00	21	25	3.00	2.00	13
Divestitures	-	-	-	-	-	-	-	0.00	0.00	19
Net Cash From Financing Activities	-251	523	-97	1,978	461	-619	-653	-708	-633	-1,371
Net Cash From Continuing Financing Activities	-251	523	-97	1,978	461	-619	-653	-708	-633	-1,371
Repayment of Debt	-613	-1,103	-1,270	-1,456	-3,429	-4,082	-5,546	-6,103	-5,519	-2,319
Repurchase of Common Equity	-388	-212	-	0.00	0.00	-207	-300	-473	-409	-1,097
Payment of Dividends	-27	-32	-42	-46	-82	-93	-92	-111	-140	-146
Issuance of Debt	787	1,875	1,217	3,481	3,982	3,878	5,391	6,087	5,563	2,258
Other Financing Activities, net	-15	-6.66	-6.80	0.00	-10	-115	-106	-108	-128	-67
Effect of Exchange Rate Changes	-19	-26	-	-37	-37	-15	-6.00	-27	3.00	-25

This table details how cash moves in and out of Westinghouse Air Brake Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	13	27	-124	-46	21	228	19	-44	-185	305
Net Cash From Operating Activities	204	410	-25	115	425	686	334	235	542	723
Net Cash From Continuing Operating Activities	204	410	-25	115	425	686	334	235	542	723
Net Income / (Loss) Continuing Operations	163	159	173	193	242	217	277	291	286	213
Consolidated Net Income / (Loss)	163	159	173	193	242	217	277	291	286	213
Depreciation Expense	119	120	123	123	125	160	123	118	134	128
Amortization Expense	-14	-14	-12	-14	-13	-15	-11	-12	-11	-10
Non-Cash Adjustments To Reconcile Net Income	12	9.00	13	12	15	14	14	14	18	24
Changes in Operating Assets and Liabilities, net	-76	136	-322	-199	56	310	-69	-176	115	368
Net Cash From Investing Activities	-32	-86	-32	-261	-43	-156	-19	-38	-49	-237
Net Cash From Continuing Investing Activities	-32	-86	-32	-261	-43	-156	-19	-38	-49	-237
Purchase of Property, Plant & Equipment	-32	-67	-32	-38	-39	-77	-31	-46	-46	-84
Acquisitions	-	-20	-	-	-4.00	-81	-	-	-13	-155
Divestitures	-	-	-	-	-	-	-	-	-	2.00
Net Cash From Financing Activities	-139	-313	-72	102	-353	-310	-289	-234	-686	-162
Net Cash From Continuing Financing Activities	-139	-313	-72	102	-353	-310	-289	-234	-686	-162
Repayment of Debt	-1,258	-1,628	-1,151	-1,442	-1,709	-1,217	-1,022	-834	-73	-390
Repurchase of Common Equity	-1.00	-73	-178	-74	-	-157	-175	-200	-599	-123
Payment of Dividends	-28	-28	-31	-43	-30	-36	-36	-36	-40	-34
Issuance of Debt	1,151	1,520	1,302	1,662	1,387	1,212	967	836	69	386
Other Financing Activities, net	-3.00	-104	-14	-1.00	-1.00	-112	-23	-	-43	-1.00
Effect of Exchange Rate Changes	-20	16	5.00	-2.00	-8.00	8.00	-7.00	-7.00	8.00	-19

This table presents Westinghouse Air Brake Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	3,230	6,581	6,580	8,649	18,944	18,454	18,454	18,516	18,988	18,702
Total Current Assets	1,540	2,868	2,265	4,450	4,192	3,880	3,832	4,327	4,855	4,943
Cash & Equivalents	226	398	233	581	604	599	473	541	620	715
Accounts Receivable	599	943	1,167	1,147	1,664	1,412	1,477	1,519	1,684	1,702
Inventories, net	479	659	743	845	1,773	1,642	1,689	2,034	2,284	2,314
Other Current Assets	236	868	122	116	151	227	193	233	267	212
Plant, Property, & Equipment, net	353	518	574	564	1,656	1,601	1,497	1,429	1,485	1,447
Total Noncurrent Assets	1,336	3,195	3,741	3,636	13,096	12,973	13,125	12,760	12,648	12,312
Goodwill	859	2,079	2,460	2,397	8,361	8,485	8,587	8,508	8,780	8,710
Intangible Assets	441	1,054	1,204	1,130	4,104	3,869	3,705	3,402	3,205	2,934
Other Noncurrent Operating Assets	37	62	76	109	632	619	833	850	663	668
Total Liabilities & Shareholders' Equity	3,230	6,581	6,580	8,649	18,944	18,454	18,454	18,516	18,988	18,702
Total Liabilities	1,528	3,604	3,751	5,780	8,951	8,301	8,215	8,369	8,464	8,569
Total Current Liabilities	665	1,447	1,573	1,647	3,258	3,226	2,910	3,467	4,056	3,792
Short-Term Debt	0.43	130	47	64	96	447	2.00	251	781	500
Accounts Payable	320	530	553	589	1,158	909	1,012	1,301	1,250	1,300
Accrued Expenses	169	385	440	446	1,057	985	932	843	880	874
Customer Deposits	106	257	370	374	604	643	629	772	804	693
Current Employee Benefit Liabilities	70	145	164	173	344	242	335	300	341	425
Total Noncurrent Liabilities	863	2,158	2,178	4,134	5,693	5,075	5,305	4,902	4,408	4,777
Long-Term Debt	692	1,763	1,823	3,793	4,334	3,792	4,056	3,751	3,288	3,480
Noncurrent Deferred & Payable Income Tax Liabilities	73	246	176	198	145	168	288	326	318	376
Noncurrent Employee Benefit Liabilities	56	111	104	95	113	114	77	57	62	58
Other Noncurrent Operating Liabilities	43	38	75	47	1,101	1,001	884	768	740	863
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,701	2,977	2,829	2,869	9,994	10,153	10,239	10,147	10,524	10,133
Total Preferred & Common Equity	1,700	2,206	2,809	2,865	9,957	10,123	10,201	10,102	10,487	10,091
Total Common Equity	1,700	2,206	2,809	2,865	9,957	10,123	10,201	10,102	10,487	10,091
Common Stock	471	871	908	916	7,879	7,883	7,918	7,955	7,979	8,025
Retained Earnings	2,281	2,553	2,773	3,022	3,267	3,589	4,055	4,577	5,269	6,185
Treasury Stock	-775	-839	-827	-816	-807	-1,010	-1,306	-1,769	-2,171	-3,273
Accumulated Other Comprehensive Income / (Loss)	-277	-380	-45	-257	-383	-339	-466	-661	-590	-846
Noncontrolling Interest	1.73	771	20	3.90	37	30	38	45	37	42

This table presents Westinghouse Air Brake Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	18,262	18,516	18,669	18,985	18,800	18,988	18,747	18,876	18,644	18,702
Total Current Assets	4,199	4,327	4,496	4,663	4,634	4,855	4,799	5,027	4,774	4,943
Cash & Equivalents	514	541	417	371	392	620	639	595	410	715
Accounts Receivable	1,462	1,519	1,576	1,698	1,714	1,684	1,541	1,801	1,782	1,702
Inventories, net	2,023	2,034	2,228	2,317	2,246	2,284	2,356	2,364	2,380	2,314
Other Current Assets	200	233	275	277	282	267	263	267	202	212
Plant, Property, & Equipment, net	1,402	1,429	1,422	1,443	1,419	1,485	1,445	1,439	1,439	1,447
Total Noncurrent Assets	12,661	12,760	12,751	12,879	12,747	12,648	12,503	12,410	12,431	12,312
Goodwill	8,361	8,508	8,540	8,657	8,590	8,780	8,730	8,706	8,786	8,710
Intangible Assets	3,410	3,402	3,333	3,359	3,267	3,205	3,115	3,031	2,996	2,934
Other Noncurrent Operating Assets	890	850	878	863	890	663	658	673	649	668
Total Liabilities & Shareholders' Equity	18,262	18,516	18,669	18,985	18,800	18,988	18,747	18,876	18,644	18,702
Total Liabilities	8,337	8,369	8,535	8,758	8,433	8,464	8,243	8,356	8,353	8,569
Total Current Liabilities	3,328	3,467	4,165	4,173	3,891	4,056	3,153	3,647	3,681	3,792
Short-Term Debt	251	251	975	989	759	781	3.00	503	500	500
Accounts Payable	1,206	1,301	1,353	1,307	1,243	1,250	1,288	1,331	1,338	1,300
Accrued Expenses	902	843	845	897	902	880	873	887	896	874
Customer Deposits	691	772	697	731	679	804	645	646	567	693
Current Employee Benefit Liabilities	278	300	295	249	308	341	344	280	380	425
Total Noncurrent Liabilities	5,009	4,902	4,370	4,585	4,542	4,408	5,090	4,709	4,672	4,777
Long-Term Debt	3,824	3,751	3,189	3,401	3,288	3,288	3,997	3,494	3,517	3,480
Noncurrent Deferred & Payable Income Tax Liabilities	287	326	333	359	355	318	321	323	295	376
Noncurrent Employee Benefit Liabilities	63	57	58	64	63	62	62	61	62	58
Other Noncurrent Operating Liabilities	835	768	790	761	836	740	710	831	798	863
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,925	10,147	10,134	10,227	10,367	10,524	10,504	10,520	10,291	10,133
Total Preferred & Common Equity	9,881	10,102	10,085	10,188	10,326	10,487	10,462	10,477	10,250	10,091
Total Common Equity	9,881	10,102	10,085	10,188	10,326	10,487	10,462	10,477	10,250	10,091
Common Stock	7,939	7,955	7,942	7,951	7,967	7,979	7,969	7,983	8,001	8,025
Retained Earnings	4,447	4,577	4,715	4,875	5,085	5,269	5,505	5,759	6,007	6,185
Treasury Stock	-1,697	-1,769	-1,941	-2,014	-2,013	-2,171	-2,345	-2,545	-3,151	-3,273
Accumulated Other Comprehensive Income / (Loss)	-808	-661	-631	-624	-713	-590	-667	-720	-607	-846
Noncontrolling Interest	44	45	49	39	41	37	42	43	41	42

This table displays calculated financial ratios and metrics derived from Westinghouse Air Brake Technologies' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.66%	-11.39%	32.43%	12.41%	87.92%	-7.85%	3.52%	6.90%	15.73%	7.34%
EBITDA Growth	13.69%	-20.10%	0.05%	10.48%	67.20%	15.84%	18.76%	8.19%	21.90%	15.84%
EBIT Growth	14.62%	-23.10%	-7.15%	11.58%	38.81%	13.51%	20.90%	13.79%	25.96%	22.98%
NOPAT Growth	13.35%	-16.22%	-9.50%	19.75%	29.11%	13.62%	21.87%	13.00%	26.04%	27.30%
Net Income Growth	13.35%	-21.38%	-16.31%	11.21%	12.10%	25.99%	37.14%	13.45%	28.71%	29.33%
EPS Growth	13.26%	-18.54%	-18.56%	12.13%	-39.67%	17.93%	36.41%	16.89%	30.92%	33.33%
Operating Cash Flow Growth	-4.56%	-0.07%	-58.09%	66.68%	222.85%	-22.83%	36.86%	-3.26%	15.70%	52.71%
Free Cash Flow Firm Growth	-29.74%	-1,404.70%	116.31%	43.38%	-2,055.79%	106.44%	11.06%	52.19%	-39.33%	203.08%
Invested Capital Growth	13.85%	106.29%	-0.12%	-1.84%	215.23%	-0.19%	0.22%	-1.56%	2.68%	-4.12%
Revenue Q/Q Growth	0.36%	-2.43%	8.85%	0.98%	-10.73%	33.39%	0.64%	2.87%	2.33%	0.55%
EBITDA Q/Q Growth	1.40%	-13.37%	6.71%	-0.21%	21.25%	-2.26%	9.68%	-1.28%	6.75%	-1.19%
EBIT Q/Q Growth	1.51%	-15.68%	6.89%	-0.27%	26.46%	-8.07%	13.71%	-1.52%	5.99%	0.12%
NOPAT Q/Q Growth	1.53%	-9.05%	-3.71%	0.00%	34.43%	-9.77%	17.41%	-3.87%	5.76%	0.98%
Net Income Q/Q Growth	2.33%	-15.03%	1.30%	-4.84%	45.87%	-11.05%	23.23%	-5.04%	7.56%	-0.37%
EPS Q/Q Growth	1.49%	-16.08%	3.42%	-4.69%	38.35%	-15.56%	23.33%	-4.16%	8.11%	0.50%
Operating Cash Flow Q/Q Growth	-40.20%	1.83%	-17.97%	57.12%	20.32%	-13.50%	-1.10%	10.19%	29.84%	2.06%
Free Cash Flow Firm Q/Q Growth	-46.12%	-732.70%	118.17%	288.50%	-0.72%	-23.12%	24.62%	-12.11%	60.57%	34.80%
Invested Capital Q/Q Growth	-2.73%	94.40%	1.90%	-5.53%	-0.49%	0.33%	0.13%	0.90%	-0.35%	-3.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.68%	31.53%	27.44%	28.28%	27.78%	28.28%	30.29%	30.38%	30.42%	32.41%
EBITDA Margin	20.16%	18.18%	13.74%	13.50%	12.01%	15.10%	17.32%	17.53%	18.47%	19.93%
Operating Margin	18.37%	15.58%	10.85%	10.85%	8.09%	9.86%	11.20%	12.09%	13.08%	15.49%
EBIT Margin	18.21%	15.80%	11.08%	11.00%	8.12%	10.01%	11.69%	12.44%	13.54%	15.51%
Profit (Net Income) Margin	12.05%	10.69%	6.76%	6.69%	3.99%	5.45%	7.22%	7.67%	8.53%	10.27%
Tax Burden Percent	68.10%	75.91%	74.50%	79.35%	73.15%	73.97%	76.66%	75.06%	75.55%	75.67%
Interest Burden Percent	97.20%	89.14%	81.88%	76.62%	67.12%	73.68%	80.63%	82.12%	83.36%	87.52%
Effective Tax Rate	31.90%	24.09%	25.50%	20.65%	26.85%	26.03%	23.34%	24.94%	24.45%	24.33%
Return on Invested Capital (ROIC)	20.33%	10.44%	7.02%	8.49%	5.33%	3.99%	4.86%	5.53%	6.94%	8.90%
ROIC Less NNEP Spread (ROIC-NNEP)	14.94%	7.05%	3.74%	3.16%	-0.59%	0.27%	1.91%	2.19%	3.13%	4.41%
Return on Net Nonoperating Assets (RNNOA)	2.39%	2.96%	2.02%	1.75%	-0.24%	0.10%	0.68%	0.76%	1.05%	1.43%
Return on Equity (ROE)	22.72%	13.40%	9.04%	10.24%	5.08%	4.09%	5.54%	6.29%	7.98%	10.33%
Cash Return on Invested Capital (CROIC)	7.37%	-58.96%	7.14%	10.34%	-98.34%	4.18%	4.64%	7.11%	4.29%	13.10%
Operating Return on Assets (OROA)	18.44%	9.44%	6.53%	6.30%	4.83%	4.04%	4.95%	5.63%	6.99%	8.55%
Return on Assets (ROA)	12.20%	6.39%	3.99%	3.83%	2.37%	2.20%	3.06%	3.47%	4.40%	5.66%
Return on Common Equity (ROCE)	22.70%	11.19%	7.81%	10.20%	5.07%	4.08%	5.52%	6.26%	7.95%	10.29%
Return on Equity Simple (ROE_SIMPLE)	23.45%	14.21%	9.34%	10.18%	3.28%	4.07%	5.54%	6.35%	7.87%	10.57%
Net Operating Profit after Tax (NOPAT)	414	347	314	376	485	551	672	759	956	1,218
NOPAT Margin	12.51%	11.83%	8.08%	8.61%	5.91%	7.29%	8.59%	9.07%	9.88%	11.72%
Net Nonoperating Expense Percent (NNEP)	5.39%	3.39%	3.28%	5.33%	5.92%	3.73%	2.95%	3.34%	3.80%	4.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.36%	6.55%	8.63%
Cost of Revenue to Revenue	68.32%	68.47%	72.56%	71.72%	72.22%	71.72%	69.71%	69.62%	69.58%	67.59%
SG&A Expenses to Revenue	10.50%	12.74%	13.20%	14.51%	14.23%	12.55%	13.17%	12.31%	11.77%	12.02%
R&D to Revenue	2.15%	2.44%	2.45%	2.01%	2.56%	2.14%	2.25%	2.50%	2.25%	1.98%
Operating Expenses to Revenue	13.31%	15.95%	16.60%	17.43%	19.70%	18.42%	19.09%	18.29%	17.34%	16.92%
Earnings before Interest and Taxes (EBIT)	602	463	430	480	666	756	914	1,040	1,310	1,611
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	667	533	533	589	985	1,141	1,355	1,466	1,787	2,070
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.83	3.19	2.67	2.28	1.45	1.34	1.66	1.78	2.16	3.23
Price to Tangible Book Value (P/TBV)	16.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.97	2.40	1.93	1.50	1.76	1.80	2.16	2.15	2.34	3.14
Price to Earnings (P/E)	16.31	23.10	28.55	22.17	44.21	32.86	30.28	28.35	27.76	30.86
Dividend Yield	0.42%	0.46%	0.56%	0.71%	0.64%	0.67%	0.53%	0.76%	0.54%	0.42%
Earnings Yield	6.13%	4.33%	3.50%	4.51%	2.26%	3.04%	3.30%	3.53%	3.60%	3.24%
Enterprise Value to Invested Capital (EV/IC)	3.22	2.08	2.05	1.84	1.33	1.25	1.48	1.58	1.87	2.68
Enterprise Value to Revenue (EV/Rev)	2.11	3.18	2.36	1.85	2.23	2.29	2.62	2.57	2.70	3.46
Enterprise Value to EBITDA (EV/EBITDA)	10.45	17.47	17.15	13.67	18.60	15.14	15.14	14.63	14.61	17.34
Enterprise Value to EBIT (EV/EBIT)	11.57	20.10	21.27	16.79	27.50	22.85	22.45	20.63	19.93	22.28
Enterprise Value to NOPAT (EV/NOPAT)	16.85	26.86	29.15	21.44	37.77	31.35	30.55	28.27	27.30	29.48
Enterprise Value to Operating Cash Flow (EV/OCF)	15.46	20.66	48.44	25.60	18.03	22.03	19.12	20.67	21.74	19.57
Enterprise Value to Free Cash Flow (EV/FCFF)	46.47	0.00	28.65	17.60	0.00	29.95	32.03	22.01	44.14	20.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.64	0.66	1.34	0.44	0.42	0.40	0.39	0.39	0.39
Long-Term Debt to Equity	0.41	0.59	0.64	1.32	0.43	0.37	0.40	0.37	0.31	0.34
Financial Leverage	0.16	0.42	0.54	0.55	0.42	0.37	0.35	0.35	0.33	0.33
Leverage Ratio	1.86	2.10	2.27	2.67	2.15	1.86	1.81	1.81	1.81	1.82
Compound Leverage Factor	1.81	1.87	1.86	2.05	1.44	1.37	1.46	1.49	1.51	1.60
Debt to Total Capital	28.92%	38.87%	39.81%	57.34%	30.71%	29.45%	28.38%	28.28%	27.88%	28.20%
Short-Term Debt to Total Capital	0.02%	2.67%	1.01%	0.95%	0.66%	3.11%	0.01%	1.77%	5.35%	3.54%
Long-Term Debt to Total Capital	28.90%	36.20%	38.80%	56.39%	30.05%	26.35%	28.37%	26.51%	22.53%	24.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	15.83%	0.42%	0.06%	0.26%	0.21%	0.27%	0.32%	0.25%	0.30%
Common Equity to Total Capital	71.01%	45.30%	59.78%	42.60%	69.03%	70.34%	71.35%	71.40%	71.86%	71.50%
Debt to EBITDA	1.04	3.55	3.51	6.55	4.50	3.72	2.99	2.73	2.28	1.92
Net Debt to EBITDA	0.70	2.80	3.07	2.57	3.88	3.19	2.65	2.36	1.93	1.58
Long-Term Debt to EBITDA	1.04	3.31	3.42	6.44	4.40	3.32	2.99	2.56	1.84	1.68
Debt to NOPAT	1.67	5.46	5.96	10.27	9.13	7.69	6.04	5.27	4.25	3.27
Net Debt to NOPAT	1.13	4.31	5.22	4.03	7.89	6.61	5.34	4.56	3.61	2.68
Long-Term Debt to NOPAT	1.67	5.09	5.81	10.10	8.94	6.88	6.04	4.94	3.44	2.86
Altman Z-Score	5.51	2.65	2.72	2.24	1.82	1.84	2.19	2.33	2.78	3.66
Noncontrolling Interest Sharing Ratio	0.08%	16.51%	13.62%	0.41%	0.32%	0.33%	0.33%	0.41%	0.40%	0.38%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.32	1.98	1.44	2.70	1.29	1.20	1.32	1.25	1.20	1.30
Quick Ratio	1.24	0.93	0.89	1.05	0.70	0.62	0.67	0.59	0.57	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	150	-1,957	319	458	-8,950	577	641	975	591	1,793
Operating Cash Flow to CapEx	946.28%	903.72%	214.06%	383.78%	558.24%	681.74%	1,021.90%	710.96%	652.72%	945.36%
Free Cash Flow to Firm to Interest Expense	8.88	-38.91	4.10	4.08	-40.87	2.90	3.62	5.24	2.71	8.92
Operating Cash Flow to Interest Expense	26.70	8.96	2.42	2.80	4.64	3.94	6.06	5.58	5.51	9.12
Operating Cash Flow Less CapEx to Interest Expense	23.87	7.97	1.29	2.07	3.81	3.36	5.47	4.80	4.67	8.16
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	0.60	0.59	0.57	0.59	0.40	0.42	0.45	0.52	0.55
Accounts Receivable Turnover	5.38	3.80	3.68	3.77	5.83	4.91	5.42	5.58	6.04	6.14
Inventory Turnover	4.57	3.53	4.02	3.94	4.52	3.17	3.27	3.13	3.12	3.05
Fixed Asset Turnover	9.56	6.73	7.11	7.67	7.39	4.64	5.05	5.72	6.64	7.09
Accounts Payable Turnover	6.28	4.72	5.20	5.48	6.78	5.24	5.68	5.03	5.28	5.51
Days Sales Outstanding (DSO)	67.86	95.96	99.17	96.76	62.56	74.29	67.41	65.39	60.41	59.49
Days Inventory Outstanding (DIO)	79.90	103.40	90.79	92.58	80.68	115.01	111.48	116.70	117.04	119.52
Days Payable Outstanding (DPO)	58.09	77.27	70.16	66.59	53.83	69.60	64.29	72.50	69.15	66.28
Cash Conversion Cycle (CCC)	89.67	122.09	119.80	122.75	89.40	119.71	114.59	109.59	108.30	112.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,167	4,471	4,466	4,384	13,819	13,793	13,824	13,608	13,973	13,398
Invested Capital Turnover	1.63	0.88	0.87	0.99	0.90	0.55	0.57	0.61	0.70	0.76
Increase / (Decrease) in Invested Capital	264	2,304	-5.46	-82	9,435	-26	31	-216	365	-575
Enterprise Value (EV)	6,971	9,309	9,145	8,056	18,318	17,273	20,518	21,453	26,109	35,896
Market Capitalization	6,503	7,044	7,488	6,537	14,456	13,603	16,895	17,947	22,623	32,589
Book Value per Share	$17.62	$24.77	$29.26	$29.66	$51.94	$53.19	$54.60	$55.55	$58.53	$58.71
Tangible Book Value per Share	$4.15	($10.40)	($8.91)	($6.84)	($13.08)	($11.72)	($11.19)	($9.94)	($8.36)	($9.03)
Total Capital	2,394	4,870	4,699	6,726	14,423	14,392	14,297	14,149	14,593	14,113
Total Debt	692	1,893	1,871	3,857	4,429	4,239	4,058	4,002	4,069	3,980
Total Long-Term Debt	692	1,763	1,823	3,793	4,334	3,792	4,056	3,751	3,288	3,480
Net Debt	466	1,494	1,637	1,515	3,825	3,640	3,585	3,461	3,449	3,265
Capital Expenditures (CapEx)	48	50	88	82	182	115	105	146	184	194
Debt-free, Cash-free Net Working Capital (DFCFNWC)	649	1,152	506	525	426	502	451	570	960	936
Debt-free Net Working Capital (DFNWC)	876	1,551	739	2,867	1,030	1,101	924	1,111	1,580	1,651
Net Working Capital (NWC)	875	1,421	692	2,803	934	654	922	860	799	1,151
Net Nonoperating Expense (NNE)	15	33	51	84	158	139	107	118	131	151
Net Nonoperating Obligations (NNO)	466	1,494	1,637	1,515	3,825	3,640	3,585	3,461	3,449	3,265
Total Depreciation and Amortization (D&A)	65	70	103	109	319	385	441	426	477	459
Debt-free, Cash-free Net Working Capital to Revenue	19.63%	39.31%	13.03%	12.03%	5.19%	6.64%	5.77%	6.82%	9.92%	9.01%
Debt-free Net Working Capital to Revenue	26.47%	52.91%	19.04%	65.71%	12.56%	14.57%	11.81%	13.29%	16.33%	15.89%
Net Working Capital to Revenue	26.46%	48.48%	17.82%	64.24%	11.39%	8.66%	11.79%	10.28%	8.26%	11.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.14	$3.37	$2.74	$3.06	$1.91	$2.18	$2.96	$3.46	$4.54	$6.05
Adjusted Weighted Average Basic Shares Outstanding	96.07M	90.36M	95.45M	95.99M	170.50M	189.90M	187.70M	182.20M	178.80M	174.10M
Adjusted Diluted Earnings per Share	$4.10	$3.34	$2.72	$3.05	$1.84	$2.17	$2.96	$3.46	$4.53	$6.04
Adjusted Weighted Average Diluted Shares Outstanding	97.01M	91.14M	96.13M	96.46M	177.30M	190.40M	188.10M	182.80M	179.50M	174.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	91.93M	95.79M	96.09M	96.61M	383.42M	188.90M	185.29M	180.35M	177.03M	170.85M
Normalized Net Operating Profit after Tax (NOPAT)	414	347	314	376	485	551	672	759	956	1,218
Normalized NOPAT Margin	12.51%	11.83%	8.08%	8.61%	5.91%	7.29%	8.59%	9.07%	9.88%	11.72%
Pre Tax Income Margin	17.70%	14.08%	9.07%	8.42%	5.45%	7.37%	9.42%	10.21%	11.28%	13.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	35.66	9.21	5.52	4.28	3.04	3.80	5.16	5.59	6.01	8.01
NOPAT to Interest Expense	24.50	6.89	4.03	3.35	2.21	2.77	3.79	4.08	4.39	6.06
EBIT Less CapEx to Interest Expense	32.84	8.22	4.39	3.55	2.21	3.22	4.57	4.81	5.17	7.05
NOPAT Less CapEx to Interest Expense	21.68	5.90	2.89	2.62	1.38	2.19	3.20	3.29	3.54	5.09
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.76%	10.35%	16.09%	15.87%	25.08%	22.57%	16.28%	17.32%	16.97%	13.68%
Augmented Payout Ratio	104.04%	78.05%	16.09%	15.87%	25.08%	72.82%	69.38%	91.11%	66.55%	116.49%

This table displays calculated financial ratios and metrics derived from Westinghouse Air Brake Technologies' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.12%	11.24%	13.86%	17.53%	22.54%	9.54%	13.81%	9.85%	4.43%	2.26%
EBITDA Growth	14.55%	-4.92%	11.05%	12.50%	32.97%	30.79%	33.16%	27.66%	12.40%	-5.21%
EBIT Growth	22.12%	-5.78%	15.64%	15.87%	43.40%	28.35%	45.91%	38.22%	13.16%	0.60%
NOPAT Growth	19.78%	-13.75%	14.32%	18.29%	42.72%	27.64%	53.42%	39.79%	17.08%	4.94%
Net Income Growth	23.48%	-17.62%	15.33%	14.20%	48.47%	36.48%	60.12%	50.78%	18.18%	-1.84%
EPS Growth	27.54%	-14.71%	16.25%	16.48%	51.14%	39.08%	64.52%	54.72%	22.56%	2.48%
Operating Cash Flow Growth	-16.39%	30.57%	-115.53%	-56.27%	108.33%	67.32%	1,436.00%	104.35%	27.53%	5.39%
Free Cash Flow Firm Growth	388.13%	116.89%	-47.62%	-172.05%	-149.66%	-131.34%	102.78%	283.08%	276.28%	753.60%
Invested Capital Growth	-2.32%	-1.56%	0.30%	4.30%	3.97%	2.68%	-0.12%	-2.27%	-0.88%	-4.12%
Revenue Q/Q Growth	1.61%	10.81%	-4.86%	9.71%	5.94%	-0.94%	-1.15%	5.89%	0.72%	-3.00%
EBITDA Q/Q Growth	-1.60%	-0.81%	6.81%	7.91%	16.31%	-2.44%	8.75%	3.45%	2.41%	-17.72%
EBIT Q/Q Growth	-2.21%	-1.51%	7.66%	11.74%	21.02%	-11.84%	22.39%	5.85%	-0.92%	-21.63%
NOPAT Q/Q Growth	-0.25%	-4.61%	9.58%	13.45%	20.35%	-14.69%	31.71%	3.38%	0.80%	-23.54%
Net Income Q/Q Growth	-3.55%	-2.45%	8.81%	11.56%	25.39%	-10.33%	27.65%	5.05%	-1.72%	-25.52%
EPS Q/Q Growth	-3.30%	-1.14%	6.90%	13.98%	25.47%	-9.02%	26.45%	7.19%	-0.61%	-23.93%
Operating Cash Flow Q/Q Growth	-22.43%	100.98%	-106.10%	560.00%	269.57%	61.41%	-51.31%	-29.64%	130.64%	33.39%
Free Cash Flow Firm Q/Q Growth	4.84%	-21.87%	-59.57%	-317.59%	27.73%	50.70%	361.59%	96.44%	-30.42%	82.79%
Invested Capital Q/Q Growth	-1.27%	0.90%	2.01%	2.63%	-1.57%	-0.35%	-0.77%	0.41%	-0.17%	-3.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.14%	28.27%	30.31%	30.04%	31.06%	30.25%	32.64%	33.06%	33.05%	30.86%
EBITDA Margin	17.78%	15.92%	17.87%	17.57%	19.29%	19.00%	20.91%	20.42%	20.77%	17.62%
Operating Margin	12.54%	10.71%	12.58%	12.96%	14.51%	12.19%	16.50%	16.26%	16.26%	12.93%
EBIT Margin	12.73%	11.32%	12.81%	13.05%	14.90%	13.26%	16.42%	16.41%	16.15%	13.05%
Profit (Net Income) Margin	7.83%	6.90%	7.89%	8.02%	9.49%	8.59%	11.09%	11.01%	10.74%	8.25%
Tax Burden Percent	75.12%	75.71%	74.25%	74.52%	75.63%	77.50%	76.31%	75.58%	75.66%	75.00%
Interest Burden Percent	81.89%	80.46%	82.92%	82.48%	84.21%	83.58%	88.54%	88.71%	87.91%	84.27%
Effective Tax Rate	24.88%	24.29%	25.75%	25.48%	24.38%	22.50%	23.69%	24.42%	24.34%	25.00%
Return on Invested Capital (ROIC)	5.61%	4.94%	5.82%	6.22%	7.54%	6.63%	9.06%	8.92%	9.10%	7.36%
ROIC Less NNEP Spread (ROIC-NNEP)	4.69%	4.15%	4.96%	5.20%	6.50%	6.00%	8.01%	8.00%	7.96%	6.24%
Return on Net Nonoperating Assets (RNNOA)	1.67%	1.43%	1.84%	1.99%	2.31%	2.01%	2.76%	2.86%	2.80%	2.03%
Return on Equity (ROE)	7.29%	6.38%	7.66%	8.22%	9.86%	8.64%	11.81%	11.78%	11.90%	9.39%
Cash Return on Invested Capital (CROIC)	8.13%	7.11%	5.36%	1.67%	2.68%	4.29%	7.80%	10.52%	9.53%	13.10%
Operating Return on Assets (OROA)	5.65%	5.12%	5.96%	6.28%	7.61%	6.84%	8.76%	8.86%	8.91%	7.19%
Return on Assets (ROA)	3.48%	3.12%	3.67%	3.86%	4.84%	4.43%	5.92%	5.94%	5.93%	4.55%
Return on Common Equity (ROCE)	7.26%	6.35%	7.62%	8.18%	9.81%	8.60%	11.76%	11.73%	11.85%	9.35%
Return on Equity Simple (ROE_SIMPLE)	6.83%	0.00%	6.58%	6.75%	7.43%	0.00%	8.88%	9.80%	10.45%	0.00%
Net Operating Profit after Tax (NOPAT)	196	187	205	232	280	239	314	325	328	251
NOPAT Margin	9.42%	8.11%	9.34%	9.66%	10.97%	9.45%	12.59%	12.29%	12.30%	9.70%
Net Nonoperating Expense Percent (NNEP)	0.92%	0.80%	0.85%	1.02%	1.05%	0.63%	1.05%	0.92%	1.15%	1.12%
Return On Investment Capital (ROIC_SIMPLE)	-	1.32%	-	-	-	1.64%	-	-	-	1.78%
Cost of Revenue to Revenue	68.86%	71.73%	69.69%	69.96%	68.94%	69.75%	67.36%	66.94%	66.95%	69.14%
SG&A Expenses to Revenue	12.49%	11.80%	11.99%	11.84%	11.57%	11.72%	11.25%	11.95%	11.94%	12.89%
R&D to Revenue	2.59%	2.60%	2.32%	2.20%	2.08%	2.41%	1.92%	2.16%	1.88%	1.97%
Operating Expenses to Revenue	18.60%	17.56%	17.73%	17.08%	16.55%	18.05%	16.14%	16.79%	16.79%	17.92%
Earnings before Interest and Taxes (EBIT)	265	261	281	314	380	335	410	434	430	337
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	370	367	392	423	492	480	522	540	553	455
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.48	1.78	1.79	1.92	1.83	2.16	2.49	2.66	3.11	3.23
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.80	2.15	2.09	2.18	2.00	2.34	2.61	2.73	3.08	3.14
Price to Earnings (P/E)	21.95	28.35	27.67	28.89	24.98	27.76	28.36	27.40	30.07	30.86
Dividend Yield	0.71%	0.76%	0.77%	0.73%	0.77%	0.54%	0.49%	0.47%	0.42%	0.42%
Earnings Yield	4.56%	3.53%	3.61%	3.46%	4.00%	3.60%	3.53%	3.65%	3.33%	3.24%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.58	1.58	1.66	1.61	1.87	2.12	2.25	2.55	2.68
Enterprise Value to Revenue (EV/Rev)	2.24	2.57	2.53	2.63	2.39	2.70	2.95	3.06	3.44	3.46
Enterprise Value to EBITDA (EV/EBITDA)	12.26	14.63	14.53	15.24	13.52	14.61	15.36	15.38	16.94	17.34
Enterprise Value to EBIT (EV/EBIT)	17.24	20.63	20.28	21.10	18.31	19.93	20.46	20.07	22.06	22.28
Enterprise Value to NOPAT (EV/NOPAT)	23.06	28.27	27.87	28.82	25.02	27.30	27.62	27.02	29.43	29.48
Enterprise Value to Operating Cash Flow (EV/OCF)	19.32	20.67	25.66	33.59	24.46	21.74	18.87	18.62	19.75	19.57
Enterprise Value to Free Cash Flow (EV/FCFF)	16.41	22.01	29.45	101.27	61.44	44.14	27.21	21.11	26.69	20.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.39	0.41	0.43	0.39	0.39	0.38	0.38	0.39	0.39
Long-Term Debt to Equity	0.39	0.37	0.31	0.33	0.32	0.31	0.38	0.33	0.34	0.34
Financial Leverage	0.36	0.35	0.37	0.38	0.36	0.33	0.34	0.36	0.35	0.33
Leverage Ratio	1.82	1.81	1.84	1.85	1.83	1.81	1.81	1.82	1.81	1.82
Compound Leverage Factor	1.49	1.46	1.52	1.53	1.54	1.52	1.61	1.62	1.59	1.54
Debt to Total Capital	29.11%	28.28%	29.12%	30.03%	28.08%	27.88%	27.58%	27.53%	28.08%	28.20%
Short-Term Debt to Total Capital	1.79%	1.77%	6.82%	6.77%	5.27%	5.35%	0.02%	3.46%	3.49%	3.54%
Long-Term Debt to Total Capital	27.31%	26.51%	22.30%	23.27%	22.81%	22.53%	27.56%	24.07%	24.58%	24.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.31%	0.32%	0.34%	0.27%	0.28%	0.25%	0.29%	0.30%	0.29%	0.30%
Common Equity to Total Capital	70.58%	71.40%	70.53%	69.70%	71.64%	71.86%	72.13%	72.17%	71.64%	71.50%
Debt to EBITDA	2.74	2.73	2.77	2.83	2.42	2.28	2.09	1.97	1.92	1.92
Net Debt to EBITDA	2.40	2.36	2.49	2.59	2.18	1.93	1.75	1.67	1.72	1.58
Long-Term Debt to EBITDA	2.58	2.56	2.12	2.19	1.96	1.84	2.09	1.72	1.68	1.68
Debt to NOPAT	5.16	5.27	5.31	5.35	4.48	4.25	3.75	3.45	3.33	3.27
Net Debt to NOPAT	4.51	4.56	4.78	4.90	4.04	3.61	3.15	2.94	2.99	2.68
Long-Term Debt to NOPAT	4.84	4.94	4.06	4.15	3.64	3.44	3.75	3.02	2.92	2.86
Altman Z-Score	1.94	2.19	2.16	2.26	2.34	2.61	3.02	3.13	3.44	3.43
Noncontrolling Interest Sharing Ratio	0.39%	0.41%	0.44%	0.40%	0.42%	0.40%	0.44%	0.40%	0.40%	0.38%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.25	1.08	1.12	1.19	1.20	1.52	1.38	1.30	1.30
Quick Ratio	0.59	0.59	0.48	0.50	0.54	0.57	0.69	0.66	0.60	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	516	403	163	-355	-256	-126	330	649	452	826
Operating Cash Flow to CapEx	637.50%	621.21%	-78.13%	302.63%	1,089.74%	914.67%	1,757.89%	618.42%	1,022.64%	860.71%
Free Cash Flow to Firm to Interest Expense	10.75	7.90	3.39	0.00	0.00	0.00	7.03	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	4.25	8.04	-0.52	0.00	0.00	0.00	7.11	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	3.58	6.75	-1.19	0.00	0.00	0.00	6.70	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.44	0.45	0.47	0.48	0.51	0.52	0.53	0.54	0.55	0.55
Accounts Receivable Turnover	5.75	5.58	5.83	5.76	5.96	6.04	6.40	5.84	5.91	6.14
Inventory Turnover	3.01	3.13	2.97	2.98	3.10	3.12	3.00	2.98	3.03	3.05
Fixed Asset Turnover	5.59	5.72	5.97	6.26	6.70	6.64	6.96	7.09	7.23	7.09
Accounts Payable Turnover	5.19	5.03	4.99	5.07	5.41	5.28	5.21	5.29	5.42	5.51
Days Sales Outstanding (DSO)	63.51	65.39	62.56	63.35	61.29	60.41	57.00	62.50	61.76	59.49
Days Inventory Outstanding (DIO)	121.23	116.70	122.98	122.68	117.60	117.04	121.49	122.53	120.66	119.52
Days Payable Outstanding (DPO)	70.31	72.50	73.10	71.99	67.46	69.15	69.99	69.05	67.32	66.28
Cash Conversion Cycle (CCC)	114.43	109.59	112.44	114.05	111.43	108.30	108.49	115.98	115.10	112.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,486	13,608	13,881	14,246	14,022	13,973	13,865	13,922	13,898	13,398
Invested Capital Turnover	0.60	0.61	0.62	0.64	0.69	0.70	0.72	0.73	0.74	0.76
Increase / (Decrease) in Invested Capital	-320	-216	42	587	536	365	-16	-324	-124	-575
Enterprise Value (EV)	18,203	21,453	21,864	23,648	22,629	26,109	29,439	31,287	35,491	35,896
Market Capitalization	14,598	17,947	18,068	19,590	18,933	22,623	26,036	27,842	31,843	32,589
Book Value per Share	$54.33	$55.55	$55.92	$56.64	$57.65	$58.53	$59.27	$59.40	$58.51	$58.71
Tangible Book Value per Share	($10.39)	($9.94)	($9.91)	($10.16)	($8.55)	($8.36)	($7.84)	($7.14)	($8.75)	($9.03)
Total Capital	14,000	14,149	14,298	14,617	14,414	14,593	14,504	14,517	14,308	14,113
Total Debt	4,075	4,002	4,164	4,390	4,047	4,069	4,000	3,997	4,017	3,980
Total Long-Term Debt	3,824	3,751	3,189	3,401	3,288	3,288	3,997	3,494	3,517	3,480
Net Debt	3,561	3,461	3,747	4,019	3,655	3,449	3,361	3,402	3,607	3,265
Capital Expenditures (CapEx)	32	66	32	38	39	75	19	38	53	84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	608	570	889	1,108	1,110	960	1,010	1,288	1,183	936
Debt-free Net Working Capital (DFNWC)	1,122	1,111	1,306	1,479	1,502	1,580	1,649	1,883	1,593	1,651
Net Working Capital (NWC)	871	860	331	490	743	799	1,646	1,380	1,093	1,151
Net Nonoperating Expense (NNE)	33	28	32	39	38	22	37	34	42	38
Net Nonoperating Obligations (NNO)	3,561	3,461	3,747	4,019	3,655	3,449	3,361	3,402	3,607	3,265
Total Depreciation and Amortization (D&A)	105	106	111	109	112	145	112	106	123	118
Debt-free, Cash-free Net Working Capital to Revenue	7.48%	6.82%	10.30%	12.33%	11.74%	9.92%	10.12%	12.61%	11.45%	9.01%
Debt-free Net Working Capital to Revenue	13.80%	13.29%	15.14%	16.46%	15.88%	16.33%	16.52%	18.43%	15.42%	15.89%
Net Working Capital to Revenue	10.71%	10.28%	3.84%	5.45%	7.86%	8.26%	16.49%	13.51%	10.58%	11.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.88	$0.87	$0.94	$1.06	$1.34	$1.20	$1.54	$1.64	$1.63	$1.24
Adjusted Weighted Average Basic Shares Outstanding	181.30M	182.20M	179.90M	178.90M	178.60M	178.80M	176.50M	175.40M	173.40M	174.10M
Adjusted Diluted Earnings per Share	$0.88	$0.87	$0.93	$1.06	$1.33	$1.21	$1.53	$1.64	$1.63	$1.24
Adjusted Weighted Average Diluted Shares Outstanding	181.90M	182.80M	180.60M	179.40M	179.20M	179.50M	177.20M	176M	174.10M	174.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	181.87M	180.35M	179.87M	179.13M	179.16M	177.03M	176.38M	175.18M	171.89M	170.85M
Normalized Net Operating Profit after Tax (NOPAT)	196	187	205	232	280	239	314	325	328	251
Normalized NOPAT Margin	9.42%	8.11%	9.34%	9.66%	10.97%	9.45%	12.59%	12.29%	12.30%	9.70%
Pre Tax Income Margin	10.43%	9.11%	10.62%	10.76%	12.55%	11.08%	14.54%	14.56%	14.19%	11.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.52	5.12	5.85	0.00	0.00	0.00	8.72	0.00	0.00	0.00
NOPAT to Interest Expense	4.08	3.67	4.27	0.00	0.00	0.00	6.69	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	4.85	3.82	5.19	0.00	0.00	0.00	8.32	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.42	2.37	3.60	0.00	0.00	0.00	6.28	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.70%	17.32%	17.17%	18.90%	17.21%	16.97%	15.61%	13.44%	13.82%	13.68%
Augmented Payout Ratio	89.78%	91.11%	70.63%	66.28%	59.58%	66.55%	59.31%	65.24%	119.42%	116.49%

Frequently Asked Questions About Westinghouse Air Brake Technologies' Financials

When does Westinghouse Air Brake Technologies's financial year end?

According to the most recent income statement we have on file, Westinghouse Air Brake Technologies' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Westinghouse Air Brake Technologies' net income changed over the last 9 years?

Westinghouse Air Brake Technologies' net income appears to be on an upward trend, with a most recent value of $1.07 billion in 2024, rising from $398.63 million in 2015. The previous period was $825 million in 2023.

What is Westinghouse Air Brake Technologies's operating income?

Westinghouse Air Brake Technologies's total operating income in 2024 was $1.61 billion, based on the following breakdown:

Total Gross Profit: $3.37 billion
Total Operating Expenses: $1.76 billion

How has Westinghouse Air Brake Technologies revenue changed over the last 9 years?

Over the last 9 years, Westinghouse Air Brake Technologies' total revenue changed from $3.31 billion in 2015 to $10.39 billion in 2024, a change of 214.0%.

How much debt does Westinghouse Air Brake Technologies have?

Westinghouse Air Brake Technologies' total liabilities were at $8.57 billion at the end of 2024, a 1.2% increase from 2023, and a 460.7% increase since 2015.

How much cash does Westinghouse Air Brake Technologies have?

In the past 9 years, Westinghouse Air Brake Technologies' cash and equivalents has ranged from $226.19 million in 2015 to $715 million in 2024, and is currently $715 million as of their latest financial filing in 2024.

How has Westinghouse Air Brake Technologies' book value per share changed over the last 9 years?

Over the last 9 years, Westinghouse Air Brake Technologies' book value per share changed from 17.62 in 2015 to 58.71 in 2024, a change of 233.2%.

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This page (NYSE:WAB) was last updated on 4/14/2025 by MarketBeat.com Staff

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Westinghouse Air Brake Technologies (WAB) Financials

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Westinghouse Air Brake Technologies (WAB) Financials

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