Wabash National (WNC) Financials

$9.96 +0.79 (+8.62%)

As of 03:58 PM Eastern

Annual Income Statements for Wabash National

This table shows Wabash National's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	112	231	-284
Consolidated Net Income / (Loss)	113	232	-283
Net Income / (Loss) Continuing Operations	113	232	-283
Total Pre-Tax Income	146	295	-377
Total Operating Income	167	312	-356
Total Gross Profit	323	498	265
Total Revenue	2,502	2,537	1,947
Operating Revenue	2,502	2,537	1,947
Total Cost of Revenue	2,179	2,038	1,682
Operating Cost of Revenue	2,179	2,038	1,682
Total Operating Expenses	156	186	621
Selling, General & Admin Expense	140	173	609
Amortization Expense	15	13	12
Impairment Charge	0.69	0.24	0.48
Total Other Income / (Expense), net	-20	-17	-20
Interest Expense	21	20	20
Interest & Investment Income	0.00	-0.80	-6.09
Other Income / (Expense), net	0.32	3.39	5.43
Income Tax Expense	34	63	-94
Net Income / (Loss) Attributable to Noncontrolling Interest	0.51	0.60	1.00
Basic Earnings per Share	$2.31	$4.92	($6.40)
Weighted Average Basic Shares Outstanding	48.63M	47.01M	44.36M
Diluted Earnings per Share	$2.25	$4.81	($6.40)
Weighted Average Diluted Shares Outstanding	49.88M	48.03M	44.36M
Weighted Average Basic & Diluted Shares Outstanding	47.51M	45.09M	42.45M
Cash Dividends to Common per Share	$0.32	$0.32	$0.32

This table shows Wabash National's 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	36	41	51	74	55	50	18	29	-330	-1.03
Consolidated Net Income / (Loss)	36	42	51	74	55	51	18	29	-330	-0.69
Net Income / (Loss) Continuing Operations	36	42	51	74	55	51	18	29	-330	-0.69
Total Pre-Tax Income	47	53	65	99	74	57	25	39	-438	-2.00
Total Operating Income	53	58	70	103	78	61	30	44	-433	3.59
Total Gross Profit	92	95	116	151	123	108	76	90	56	43
Total Revenue	655	657	621	687	633	596	515	551	464	417
Operating Revenue	655	657	621	687	633	596	515	551	464	417
Total Cost of Revenue	563	563	505	536	510	488	439	461	408	374
Operating Cost of Revenue	563	563	505	536	510	488	439	461	408	374
Total Operating Expenses	39	37	46	48	45	47	47	46	489	39
Selling, General & Admin Expense	36	34	43	45	42	44	44	42	486	37
Amortization Expense	3.18	3.19	3.20	3.20	3.20	3.20	3.16	2.99	2.91	2.91
Total Other Income / (Expense), net	-5.39	-4.29	-4.61	-4.51	-4.09	-4.06	-4.87	-4.79	-5.25	-5.59
Interest Expense	5.21	5.18	4.99	4.99	4.93	4.94	4.99	4.95	4.96	4.95
Interest & Investment Income	-	-	0.00	0.00	0.00	-0.80	-1.49	-1.42	-1.68	-1.51
Other Income / (Expense), net	-0.18	0.90	0.39	0.48	0.84	1.69	1.61	1.57	1.38	0.87
Income Tax Expense	11	12	14	24	18	6.54	6.42	9.77	-108	-1.31
Net Income / (Loss) Attributable to Noncontrolling Interest	0.19	0.14	0.18	0.15	0.15	0.12	0.12	0.25	0.29	0.34
Basic Earnings per Share	$0.75	$0.85	$1.07	$1.57	$1.18	$1.10	$0.40	$0.65	($7.53)	$0.08
Weighted Average Basic Shares Outstanding	48.52M	48.63M	47.77M	47.45M	46.91M	47.01M	45.38M	44.90M	43.83M	44.36M
Diluted Earnings per Share	$0.73	$0.82	$1.04	$1.54	$1.16	$1.07	$0.39	$0.64	($7.53)	$0.10
Weighted Average Diluted Shares Outstanding	49.40M	49.88M	49.14M	48.37M	47.76M	48.03M	46.25M	45.37M	43.83M	44.36M
Weighted Average Basic & Diluted Shares Outstanding	47.94M	47.51M	47.48M	47.00M	46.09M	45.09M	45.02M	44.00M	43.34M	42.45M
Cash Dividends to Common per Share	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08

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

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-14	121	-64
Net Cash From Operating Activities	124	320	117
Net Cash From Continuing Operating Activities	124	320	117
Net Income / (Loss) Continuing Operations	113	232	-283
Consolidated Net Income / (Loss)	113	232	-283
Depreciation Expense	32	33	45
Amortization Expense	15	13	12
Non-Cash Adjustments To Reconcile Net Income	11	14	19
Changes in Operating Assets and Liabilities, net	-47	29	325
Net Cash From Investing Activities	-55	-106	-95
Net Cash From Continuing Investing Activities	-55	-106	-95
Purchase of Property, Plant & Equipment	-57	-104	-79
Acquisitions	0.00	-2.45	-20
Other Investing Activities, net	1.78	0.15	4.45
Net Cash From Financing Activities	-82	-93	-86
Net Cash From Continuing Financing Activities	-82	-93	-86
Repayment of Debt	-132	-104	-0.89
Repurchase of Common Equity	-34	-76	-71
Payment of Dividends	-16	-16	-15
Issuance of Debt	98	104	0.88
Other Financing Activities, net	2.17	0.16	0.03
Cash Interest Paid	20	19	19
Cash Income Taxes Paid	18	83	30

This table details how cash moves in and out of Wabash National's 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	-57	-23	10	31	6.50	74	-63	-39	4.56	34
Net Cash From Operating Activities	-11	52	69	77	58	115	-17	11	43	81
Net Cash From Continuing Operating Activities	-11	52	69	77	58	115	-17	11	43	81
Net Income / (Loss) Continuing Operations	36	42	51	74	55	51	18	29	-330	-0.69
Consolidated Net Income / (Loss)	36	42	51	74	55	51	18	29	-330	-0.69
Depreciation Expense	8.76	6.52	6.49	7.27	9.32	9.43	9.58	11	11	14
Amortization Expense	3.18	3.19	3.20	3.20	3.20	3.20	3.16	2.99	2.91	2.91
Non-Cash Adjustments To Reconcile Net Income	3.30	2.60	3.01	3.15	3.51	4.11	4.97	5.03	6.18	2.69
Changes in Operating Assets and Liabilities, net	-62	-1.98	5.38	-11	-13	48	-53	-37	353	62
Net Cash From Investing Activities	-20	-14	-31	-28	-30	-17	-19	-24	-16	-35
Net Cash From Continuing Investing Activities	-20	-14	-31	-28	-30	-17	-19	-24	-16	-35
Purchase of Property, Plant & Equipment	-20	-15	-31	-28	-30	-15	-19	-17	-16	-27
Acquisitions	-	-	-	-	-	-2.45	-	-	-3.10	-9.90
Other Investing Activities, net	-	0.34	-	-	-	0.15	-	-	-	1.60
Net Cash From Financing Activities	-27	-61	-28	-19	-22	-24	-27	-25	-22	-12
Net Cash From Continuing Financing Activities	-27	-61	-28	-19	-22	-24	-27	-25	-22	-12
Repayment of Debt	-27	-73	-43	-60	-0.27	-0.21	-0.24	-0.20	-0.26	-0.20
Repurchase of Common Equity	-11	-9.74	-24	-14	-18	-20	-22	-22	-18	-8.64
Payment of Dividends	-3.90	-3.84	-4.55	-4.33	-3.79	-3.70	-4.75	-3.62	-3.53	-3.47
Issuance of Debt	16	25	43	60	0.26	0.21	0.23	0.20	0.26	0.20
Other Financing Activities, net	0.51	0.98	0.14	0.01	-	-	0.01	-	-	0.02
Cash Interest Paid	0.50	9.45	0.23	9.31	0.20	9.20	0.20	9.20	0.20	9.19
Cash Income Taxes Paid	5.24	16	-0.02	41	29	13	-0.04	24	12	-5.63

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

Metric	2022	2023	2024
Total Assets	1,204	1,363	1,412
Total Current Assets	593	681	594
Cash & Equivalents	58	179	115
Accounts Receivable	256	183	144
Inventories, net	244	268	259
Prepaid Expenses	35	51	76
Plant, Property, & Equipment, net	271	325	339
Total Noncurrent Assets	340	356	478
Long-Term Investments	0.00	1.65	7.25
Goodwill	188	188	188
Intangible Assets	99	86	74
Noncurrent Deferred & Refundable Income Taxes	-	0.00	95
Other Noncurrent Operating Assets	52	80	113
Total Liabilities & Shareholders' Equity	1,204	1,363	1,412
Total Liabilities	805	813	1,222
Total Current Liabilities	347	352	308
Short-Term Debt	0.00	0.00	0.00
Accounts Payable	189	157	147
Accrued Expenses	158	196	162
Total Noncurrent Liabilities	458	461	913
Long-Term Debt	396	396	397
Noncurrent Deferred & Payable Income Tax Liabilities	28	17	0.00
Other Noncurrent Operating Liabilities	34	47	516
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	398	550	190
Total Preferred & Common Equity	398	549	189
Total Common Equity	398	549	189
Common Stock	667	679	690
Retained Earnings	188	404	106
Treasury Stock	-456	-533	-604
Accumulated Other Comprehensive Income / (Loss)	-0.88	-0.43	-3.23
Noncontrolling Interest	0.51	0.60	1.00

This table presents Wabash National's 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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,269	1,309	1,385	1,389	1,379	1,339	1,455
Total Current Assets	675	683	728	721	687	644	639
Cash & Equivalents	81	68	99	105	116	77	82
Accounts Receivable	248	257	232	211	248	243	239
Inventories, net	310	316	342	344	279	273	261
Prepaid Expenses	35	42	55	60	45	51	58
Plant, Property, & Equipment, net	252	289	314	319	336	332	343
Total Noncurrent Assets	342	337	342	349	355	364	473
Long-Term Investments	-	-	-	-	0.16	0.00	0.00
Goodwill	188	188	188	188	188	188	188
Intangible Assets	102	96	93	90	83	80	77
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	98
Other Noncurrent Operating Assets	52	53	61	71	84	95	109
Total Liabilities & Shareholders' Equity	1,269	1,309	1,385	1,389	1,379	1,339	1,455
Total Liabilities	909	884	904	870	832	789	1,254
Total Current Liabilities	397	424	433	393	369	323	339
Short-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable	239	251	231	205	212	175	188
Accrued Expenses	158	174	202	188	157	148	152
Total Noncurrent Liabilities	511	460	470	477	464	465	915
Long-Term Debt	444	396	396	396	397	397	397
Noncurrent Deferred & Payable Income Tax Liabilities	33	28	33	37	14	13	0.00
Other Noncurrent Operating Liabilities	35	36	41	44	54	55	518
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	360	425	481	519	546	551	201
Total Preferred & Common Equity	360	424	481	519	546	550	201
Total Common Equity	360	424	481	519	546	550	201
Common Stock	663	670	673	676	682	685	689
Retained Earnings	151	235	306	357	419	444	110
Treasury Stock	-447	-480	-494	-512	-555	-576	-595
Accumulated Other Comprehensive Income / (Loss)	-7.47	-0.55	-3.00	-1.93	0.03	-2.10	-3.13
Noncontrolling Interest	0.37	0.70	0.33	0.48	0.12	0.37	0.66

This table displays calculated financial ratios and metrics derived from Wabash National's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	38.76%	1.37%	-23.25%
EBITDA Growth	192.01%	68.59%	-181.43%
EBIT Growth	583.76%	88.87%	-211.20%
NOPAT Growth	324.01%	91.25%	-201.56%
Net Income Growth	9,588.14%	105.60%	-222.09%
EPS Growth	11,150.00%	113.78%	-233.06%
Operating Cash Flow Growth	1,761.10%	157.57%	-63.31%
Free Cash Flow Firm Growth	550.08%	188.44%	-75.80%
Invested Capital Growth	7.86%	4.07%	-39.37%
Revenue Q/Q Growth	7.67%	-2.36%	-8.43%
EBITDA Q/Q Growth	64.46%	2.01%	-22.72%
EBIT Q/Q Growth	106.65%	1.34%	-19.95%
NOPAT Q/Q Growth	87.05%	3.84%	-19.26%
Net Income Q/Q Growth	145.92%	3.99%	-22.08%
EPS Q/Q Growth	141.94%	5.48%	-17.86%
Operating Cash Flow Q/Q Growth	-10.68%	24.59%	-22.54%
Free Cash Flow Firm Q/Q Growth	-26.68%	44.79%	-38.56%
Invested Capital Q/Q Growth	1.80%	-5.50%	-10.09%
Profitability Metrics	-	-	-
Gross Margin	12.90%	19.64%	13.62%
EBITDA Margin	8.55%	14.22%	-15.09%
Operating Margin	6.66%	12.30%	-18.29%
EBIT Margin	6.67%	12.43%	-18.01%
Profit (Net Income) Margin	4.51%	9.14%	-14.54%
Tax Burden Percent	77.01%	78.68%	75.17%
Interest Burden Percent	87.71%	93.45%	107.39%
Effective Tax Rate	22.99%	21.32%	0.00%
Return on Invested Capital (ROIC)	18.10%	32.70%	-40.54%
ROIC Less NNEP Spread (ROIC-NNEP)	13.62%	27.78%	-54.33%
Return on Net Nonoperating Assets (RNNOA)	13.06%	16.21%	-35.98%
Return on Equity (ROE)	31.17%	48.90%	-76.51%
Cash Return on Invested Capital (CROIC)	10.54%	28.71%	8.48%
Operating Return on Assets (OROA)	14.45%	24.58%	-25.28%
Return on Assets (ROA)	9.76%	18.07%	-20.41%
Return on Common Equity (ROCE)	31.14%	48.85%	-76.35%
Return on Equity Simple (ROE_SIMPLE)	28.36%	42.19%	-149.91%
Net Operating Profit after Tax (NOPAT)	128	245	-249
NOPAT Margin	5.13%	9.68%	-12.80%
Net Nonoperating Expense Percent (NNEP)	4.48%	4.91%	13.80%
Return On Investment Capital (ROIC_SIMPLE)	16.16%	25.93%	-42.47%
Cost of Revenue to Revenue	87.10%	80.36%	86.38%
SG&A Expenses to Revenue	5.60%	6.83%	31.27%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.24%	7.34%	31.91%
Earnings before Interest and Taxes (EBIT)	167	315	-351
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	214	361	-294
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.64	2.11	3.91
Price to Tangible Book Value (P/TBV)	9.54	4.22	0.00
Price to Revenue (P/Rev)	0.42	0.46	0.38
Price to Earnings (P/E)	9.34	5.01	0.00
Dividend Yield	1.46%	1.27%	2.35%
Earnings Yield	10.70%	19.96%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.89	1.80	2.18
Enterprise Value to Revenue (EV/Rev)	0.55	0.54	0.52
Enterprise Value to EBITDA (EV/EBITDA)	6.48	3.81	0.00
Enterprise Value to EBIT (EV/EBIT)	8.31	4.36	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.81	5.60	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.18	4.30	8.65
Enterprise Value to Free Cash Flow (EV/FCFF)	18.56	6.38	19.45
Leverage & Solvency	-	-	-
Debt to Equity	0.99	0.72	2.09
Long-Term Debt to Equity	0.99	0.72	2.09
Financial Leverage	0.96	0.58	0.66
Leverage Ratio	3.19	2.71	3.75
Compound Leverage Factor	2.80	2.53	4.03
Debt to Total Capital	49.85%	41.88%	67.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	49.85%	41.88%	67.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.06%	0.06%	0.17%
Common Equity to Total Capital	50.08%	58.05%	32.17%
Debt to EBITDA	1.85	1.10	-1.35
Net Debt to EBITDA	1.58	0.60	-0.93
Long-Term Debt to EBITDA	1.85	1.10	-1.35
Debt to NOPAT	3.08	1.62	-1.59
Net Debt to NOPAT	2.63	0.88	-1.10
Long-Term Debt to NOPAT	3.08	1.62	-1.59
Altman Z-Score	3.78	4.19	1.27
Noncontrolling Interest Sharing Ratio	0.07%	0.12%	0.22%
Liquidity Ratios	-	-	-
Current Ratio	1.71	1.93	1.93
Quick Ratio	0.90	1.03	0.84
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	75	215	52
Operating Cash Flow to CapEx	217.36%	308.07%	148.19%
Free Cash Flow to Firm to Interest Expense	3.64	10.85	2.63
Operating Cash Flow to Interest Expense	6.05	16.10	5.91
Operating Cash Flow Less CapEx to Interest Expense	3.26	10.87	1.92
Efficiency Ratios	-	-	-
Asset Turnover	2.17	1.98	1.40
Accounts Receivable Turnover	11.58	11.57	11.91
Inventory Turnover	9.05	7.97	6.39
Fixed Asset Turnover	9.94	8.50	5.86
Accounts Payable Turnover	12.00	11.79	11.09
Days Sales Outstanding (DSO)	31.52	31.55	30.65
Days Inventory Outstanding (DIO)	40.32	45.80	57.13
Days Payable Outstanding (DPO)	30.40	30.96	32.92
Cash Conversion Cycle (CCC)	41.43	46.40	54.86
Capital & Investment Metrics	-	-	-
Invested Capital	736	766	464
Invested Capital Turnover	3.53	3.38	3.17
Increase / (Decrease) in Invested Capital	54	30	-301
Enterprise Value (EV)	1,387	1,375	1,014
Market Capitalization	1,049	1,159	739
Book Value per Share	$8.29	$11.92	$4.36
Tangible Book Value per Share	$2.29	$5.96	($1.71)
Total Capital	794	947	587
Total Debt	396	396	397
Total Long-Term Debt	396	396	397
Net Debt	338	216	274
Capital Expenditures (CapEx)	57	104	79
Debt-free, Cash-free Net Working Capital (DFCFNWC)	187	150	171
Debt-free Net Working Capital (DFNWC)	245	329	286
Net Working Capital (NWC)	245	329	286
Net Nonoperating Expense (NNE)	16	14	34
Net Nonoperating Obligations (NNO)	338	216	274
Total Depreciation and Amortization (D&A)	47	45	57
Debt-free, Cash-free Net Working Capital to Revenue	7.47%	5.91%	8.76%
Debt-free Net Working Capital to Revenue	9.80%	12.98%	14.70%
Net Working Capital to Revenue	9.80%	12.98%	14.70%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$2.31	$4.92	($6.40)
Adjusted Weighted Average Basic Shares Outstanding	48.63M	47.01M	44.36M
Adjusted Diluted Earnings per Share	$2.25	$4.81	($6.40)
Adjusted Weighted Average Diluted Shares Outstanding	49.88M	48.03M	44.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.51M	45.09M	42.45M
Normalized Net Operating Profit after Tax (NOPAT)	129	246	-249
Normalized NOPAT Margin	5.15%	9.68%	-12.79%
Pre Tax Income Margin	5.85%	11.62%	-19.35%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	8.13	15.88	-17.68
NOPAT to Interest Expense	6.25	12.36	-12.56
EBIT Less CapEx to Interest Expense	5.35	10.66	-21.66
NOPAT Less CapEx to Interest Expense	3.47	7.14	-16.55
Payout Ratios	-	-	-
Dividend Payout Ratio	14.21%	7.06%	-5.43%
Augmented Payout Ratio	44.61%	39.93%	-30.48%

This table displays calculated financial ratios and metrics derived from Wabash National's 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	35.76%	37.18%	13.57%	6.82%	-3.41%	-9.33%	-17.02%	-19.81%	-26.67%	-30.08%
EBITDA Growth	109.60%	540.00%	139.99%	139.82%	40.79%	10.39%	-45.09%	-48.31%	-559.02%	-72.10%
EBIT Growth	184.92%	312.78%	250.31%	191.69%	48.93%	7.11%	-55.63%	-56.32%	-650.00%	-92.90%
NOPAT Growth	154.68%	444.79%	242.91%	189.59%	44.67%	20.37%	-60.22%	-57.89%	-617.58%	-95.36%
Net Income Growth	230.27%	264.35%	325.68%	227.52%	52.60%	21.40%	-64.42%	-60.79%	-694.57%	-101.37%
EPS Growth	231.82%	264.00%	333.33%	234.78%	58.90%	30.49%	-62.50%	-58.44%	-749.14%	-90.65%
Operating Cash Flow Growth	82.80%	-22.22%	301.01%	-34.45%	653.97%	121.48%	-125.06%	-85.66%	-26.59%	-29.67%
Free Cash Flow Firm Growth	174.02%	85.51%	199.69%	-181.46%	-139.25%	378.14%	-193.15%	-26.63%	68.07%	1,158.59%
Invested Capital Growth	-4.40%	7.86%	-0.13%	19.00%	12.11%	4.07%	9.83%	11.76%	-36.27%	-39.37%
Revenue Q/Q Growth	1.93%	0.35%	-5.55%	10.58%	-7.83%	-5.80%	-13.56%	6.86%	-15.72%	-10.18%
EBITDA Q/Q Growth	35.68%	5.70%	17.07%	42.85%	-20.35%	-17.12%	-41.77%	34.46%	-807.33%	105.04%
EBIT Q/Q Growth	48.10%	11.24%	19.90%	47.66%	-24.38%	-19.99%	-50.34%	45.38%	-1,052.12%	101.03%
NOPAT Q/Q Growth	50.54%	11.01%	22.44%	41.53%	-24.80%	-7.63%	-59.54%	49.83%	-1,024.31%	100.83%
Net Income Q/Q Growth	59.88%	14.43%	23.55%	44.90%	-25.50%	-8.97%	-63.79%	59.70%	-1,229.55%	99.79%
EPS Q/Q Growth	58.70%	12.33%	26.83%	48.08%	-24.68%	-7.76%	-63.55%	64.10%	-1,276.56%	101.33%
Operating Cash Flow Q/Q Growth	-108.97%	593.71%	33.81%	10.60%	-24.18%	97.38%	-115.14%	163.31%	288.10%	89.09%
Free Cash Flow Firm Q/Q Growth	29.39%	-111.77%	744.62%	-182.99%	37.65%	183.39%	-315.89%	-12.81%	84.28%	3,386.85%
Invested Capital Q/Q Growth	10.43%	1.80%	2.33%	3.43%	4.04%	-5.50%	8.00%	5.25%	-40.68%	-10.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.04%	14.39%	18.69%	22.00%	19.42%	18.16%	14.84%	16.28%	12.07%	10.31%
EBITDA Margin	9.87%	10.39%	12.88%	16.64%	14.38%	12.65%	8.52%	10.73%	-90.01%	5.05%
Operating Margin	8.07%	8.78%	11.26%	15.05%	12.27%	10.25%	5.74%	7.95%	-93.32%	0.86%
EBIT Margin	8.04%	8.92%	11.32%	15.12%	12.40%	10.53%	6.05%	8.23%	-93.02%	1.07%
Profit (Net Income) Margin	5.55%	6.33%	8.28%	10.85%	8.77%	8.47%	3.55%	5.30%	-71.09%	-0.17%
Tax Burden Percent	76.56%	77.85%	78.72%	75.38%	75.43%	88.53%	74.01%	74.94%	75.27%	34.63%
Interest Burden Percent	90.11%	91.16%	92.89%	95.19%	93.72%	90.85%	79.24%	85.96%	101.54%	-44.92%
Effective Tax Rate	23.44%	22.15%	21.28%	24.62%	24.57%	11.47%	25.99%	25.06%	0.00%	0.00%
Return on Invested Capital (ROIC)	19.42%	24.13%	30.30%	41.47%	31.37%	30.66%	13.07%	16.58%	-209.39%	1.91%
ROIC Less NNEP Spread (ROIC-NNEP)	18.30%	23.17%	29.32%	40.36%	30.42%	29.37%	11.89%	15.41%	-218.22%	0.60%
Return on Net Nonoperating Assets (RNNOA)	17.94%	22.22%	28.25%	30.20%	22.59%	17.13%	7.45%	9.21%	-183.62%	0.40%
Return on Equity (ROE)	37.36%	46.35%	58.55%	71.68%	53.96%	47.79%	20.52%	25.79%	-393.01%	2.30%
Cash Return on Invested Capital (CROIC)	13.78%	10.54%	22.35%	13.11%	19.42%	28.71%	17.53%	9.21%	12.79%	8.48%
Operating Return on Assets (OROA)	15.32%	19.31%	22.64%	29.61%	24.24%	20.82%	10.95%	13.87%	-139.04%	1.50%
Return on Assets (ROA)	10.57%	13.70%	16.56%	21.25%	17.13%	16.75%	6.42%	8.94%	-106.26%	-0.23%
Return on Common Equity (ROCE)	37.34%	46.31%	58.50%	71.63%	53.91%	47.74%	20.50%	25.77%	-392.39%	2.30%
Return on Equity Simple (ROE_SIMPLE)	12.73%	0.00%	35.83%	42.37%	42.98%	0.00%	36.39%	27.88%	-115.64%	0.00%
Net Operating Profit after Tax (NOPAT)	40	45	55	78	59	54	22	33	-303	2.51
NOPAT Margin	6.18%	6.84%	8.86%	11.34%	9.25%	9.08%	4.25%	5.96%	-65.32%	0.60%
Net Nonoperating Expense Percent (NNEP)	1.13%	0.96%	0.98%	1.11%	0.94%	1.30%	1.18%	1.16%	8.83%	1.31%
Return On Investment Capital (ROIC_SIMPLE)	-	5.66%	-	-	-	5.72%	-	-	-	0.43%
Cost of Revenue to Revenue	85.96%	85.61%	81.31%	78.00%	80.58%	81.84%	85.16%	83.72%	87.93%	89.69%
SG&A Expenses to Revenue	5.43%	5.13%	6.91%	6.48%	6.62%	7.35%	8.48%	7.61%	104.77%	8.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.92%	5.66%	7.43%	6.95%	7.13%	7.93%	9.10%	8.34%	105.39%	9.45%
Earnings before Interest and Taxes (EBIT)	53	59	70	104	78	63	31	45	-432	4.46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	65	68	80	114	91	75	44	59	-418	21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.04	2.64	2.70	2.49	1.88	2.11	2.51	1.78	4.19	3.91
Price to Tangible Book Value (P/TBV)	10.60	9.54	8.18	5.99	4.05	4.22	5.00	3.48	0.00	0.00
Price to Revenue (P/Rev)	0.32	0.42	0.44	0.46	0.38	0.46	0.56	0.43	0.40	0.38
Price to Earnings (P/E)	16.15	9.34	7.56	5.89	4.39	5.01	6.92	6.41	0.00	0.00
Dividend Yield	2.12%	1.46%	1.33%	1.27%	1.54%	1.27%	1.08%	1.47%	2.09%	2.35%
Earnings Yield	6.19%	10.70%	13.22%	16.97%	22.80%	19.96%	14.46%	15.60%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.52	1.89	1.96	1.92	1.56	1.80	2.00	1.49	2.24	2.18
Enterprise Value to Revenue (EV/Rev)	0.47	0.55	0.57	0.57	0.49	0.54	0.68	0.57	0.54	0.52
Enterprise Value to EBITDA (EV/EBITDA)	8.43	6.48	5.65	4.57	3.58	3.81	5.09	4.82	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	13.58	8.31	6.78	5.24	4.07	4.36	5.98	5.97	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	15.99	10.81	8.80	6.85	5.36	5.60	7.77	7.76	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	7.90	11.18	6.46	7.96	4.94	4.30	7.10	7.79	7.64	8.65
Enterprise Value to Free Cash Flow (EV/FCFF)	10.76	18.56	8.75	15.91	8.51	6.38	11.93	17.11	13.63	19.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.23	0.99	0.93	0.82	0.76	0.72	0.73	0.72	1.97	2.09
Long-Term Debt to Equity	1.23	0.99	0.93	0.82	0.76	0.72	0.73	0.72	1.97	2.09
Financial Leverage	0.98	0.96	0.96	0.75	0.74	0.58	0.63	0.60	0.84	0.66
Leverage Ratio	3.27	3.19	3.36	3.26	3.02	2.71	2.77	2.64	3.95	3.75
Compound Leverage Factor	2.95	2.91	3.12	3.11	2.83	2.46	2.19	2.27	4.01	-1.68
Debt to Total Capital	55.17%	49.85%	48.22%	45.14%	43.29%	41.88%	42.07%	41.87%	66.37%	67.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	55.17%	49.85%	48.22%	45.14%	43.29%	41.88%	42.07%	41.87%	66.37%	67.66%
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	0.05%	0.06%	0.08%	0.04%	0.05%	0.06%	0.01%	0.04%	0.11%	0.17%
Common Equity to Total Capital	44.78%	50.08%	51.69%	54.82%	56.66%	58.05%	57.92%	58.09%	33.52%	32.17%
Debt to EBITDA	3.41	1.85	1.52	1.21	1.12	1.10	1.22	1.47	-1.66	-1.35
Net Debt to EBITDA	2.78	1.58	1.26	0.91	0.82	0.60	0.86	1.19	-1.32	-0.93
Long-Term Debt to EBITDA	3.41	1.85	1.52	1.21	1.12	1.10	1.22	1.47	-1.66	-1.35
Debt to NOPAT	6.47	3.08	2.37	1.81	1.68	1.62	1.87	2.37	-1.90	-1.59
Net Debt to NOPAT	5.28	2.63	1.96	1.36	1.23	0.88	1.32	1.91	-1.51	-1.10
Long-Term Debt to NOPAT	6.47	3.08	2.37	1.81	1.68	1.62	1.87	2.37	-1.90	-1.59
Altman Z-Score	2.88	3.48	3.41	3.50	3.37	3.57	3.53	3.32	1.24	2.10
Noncontrolling Interest Sharing Ratio	0.05%	0.07%	0.09%	0.06%	0.10%	0.12%	0.08%	0.07%	0.16%	0.22%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.70	1.71	1.61	1.68	1.83	1.93	1.87	1.99	1.88	1.93
Quick Ratio	0.83	0.90	0.77	0.76	0.80	1.03	0.99	0.99	0.94	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	74	-8.68	56	-46	-29	24	-52	-59	-9.25	304
Operating Cash Flow to CapEx	-52.76%	351.29%	221.12%	278.02%	194.43%	781.78%	-90.75%	64.44%	267.52%	301.15%
Free Cash Flow to Firm to Interest Expense	14.16	-1.67	11.21	-9.31	-5.87	4.89	-10.45	-11.89	-1.87	61.46
Operating Cash Flow to Interest Expense	-2.02	10.02	13.91	15.41	11.81	23.28	-3.49	2.23	8.63	16.36
Operating Cash Flow Less CapEx to Interest Expense	-5.85	7.17	7.62	9.87	5.74	20.30	-7.34	-1.23	5.40	10.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.90	2.17	2.00	1.96	1.95	1.98	1.81	1.68	1.49	1.40
Accounts Receivable Turnover	10.06	11.58	9.43	11.31	11.31	11.57	9.64	9.66	9.45	11.91
Inventory Turnover	7.21	9.05	7.29	6.69	6.46	7.97	6.64	6.17	5.94	6.39
Fixed Asset Turnover	0.00	9.94	9.89	0.00	9.09	8.50	7.79	7.11	6.42	5.86
Accounts Payable Turnover	9.77	12.00	8.62	8.09	9.51	11.79	8.53	9.34	9.14	11.09
Days Sales Outstanding (DSO)	36.27	31.52	38.72	32.27	32.26	31.55	37.86	37.78	38.61	30.65
Days Inventory Outstanding (DIO)	50.61	40.32	50.07	54.57	56.48	45.80	54.98	59.19	61.48	57.13
Days Payable Outstanding (DPO)	37.36	30.40	42.32	45.13	38.37	30.96	42.79	39.10	39.93	32.92
Cash Conversion Cycle (CCC)	49.52	41.43	46.47	41.71	50.37	46.40	50.06	57.86	60.16	54.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	723	736	753	779	810	766	827	870	516	464
Invested Capital Turnover	3.14	3.53	3.42	3.66	3.39	3.38	3.08	2.78	3.21	3.17
Increase / (Decrease) in Invested Capital	-33	54	-0.94	124	88	30	74	92	-294	-301
Enterprise Value (EV)	1,097	1,387	1,474	1,495	1,266	1,375	1,652	1,300	1,156	1,014
Market Capitalization	734	1,049	1,145	1,197	975	1,159	1,371	980	841	739
Book Value per Share	$7.42	$8.29	$8.93	$10.13	$11.04	$11.92	$12.03	$12.23	$4.56	$4.36
Tangible Book Value per Share	$1.43	$2.29	$2.95	$4.21	$5.12	$5.96	$6.05	$6.26	($1.48)	($1.71)
Total Capital	804	794	821	877	915	947	943	948	598	587
Total Debt	444	396	396	396	396	396	397	397	397	397
Total Long-Term Debt	444	396	396	396	396	396	397	397	397	397
Net Debt	362	338	328	297	291	216	281	320	315	274
Capital Expenditures (CapEx)	20	15	31	28	30	15	19	17	16	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	196	187	190	196	223	150	203	243	218	171
Debt-free Net Working Capital (DFNWC)	277	245	259	295	328	329	319	321	300	286
Net Working Capital (NWC)	277	245	259	295	328	329	319	321	300	286
Net Nonoperating Expense (NNE)	4.13	3.34	3.63	3.40	3.08	3.59	3.60	3.59	27	3.20
Net Nonoperating Obligations (NNO)	362	338	328	297	291	216	281	320	315	274
Total Depreciation and Amortization (D&A)	12	9.70	9.70	10	13	13	13	14	14	17
Debt-free, Cash-free Net Working Capital to Revenue	8.42%	7.47%	7.39%	7.49%	8.57%	5.91%	8.36%	10.60%	10.27%	8.76%
Debt-free Net Working Capital to Revenue	11.93%	9.80%	10.03%	11.26%	12.62%	12.98%	13.12%	13.97%	14.12%	14.70%
Net Working Capital to Revenue	11.93%	9.80%	10.03%	11.26%	12.62%	12.98%	13.12%	13.97%	14.12%	14.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.75	$0.85	$1.07	$1.57	$1.18	$1.10	$0.40	$0.65	($7.53)	$0.08
Adjusted Weighted Average Basic Shares Outstanding	48.52M	48.63M	47.77M	47.45M	46.91M	47.01M	45.38M	44.90M	43.83M	44.36M
Adjusted Diluted Earnings per Share	$0.73	$0.82	$1.04	$1.54	$1.16	$1.07	$0.39	$0.64	($7.53)	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	49.40M	49.88M	49.14M	48.37M	47.76M	48.03M	46.25M	45.37M	43.83M	44.36M
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	47.94M	47.51M	47.48M	47.00M	46.09M	45.09M	45.02M	44.00M	43.34M	42.45M
Normalized Net Operating Profit after Tax (NOPAT)	40	45	55	78	59	54	22	34	-303	2.51
Normalized NOPAT Margin	6.18%	6.84%	8.86%	11.34%	9.25%	9.08%	4.25%	6.09%	-65.33%	0.60%
Pre Tax Income Margin	7.25%	8.13%	10.52%	14.39%	11.62%	9.57%	4.80%	7.08%	-94.45%	-0.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.11	11.31	14.07	20.81	15.91	12.71	6.25	9.16	-87.06	0.90
NOPAT to Interest Expense	7.77	8.67	11.02	15.62	11.87	10.95	4.39	6.63	-61.14	0.51
EBIT Less CapEx to Interest Expense	6.29	8.46	7.78	15.27	9.84	9.73	2.41	5.71	-90.29	-4.53
NOPAT Less CapEx to Interest Expense	3.94	5.82	4.73	10.07	5.80	7.97	0.54	3.17	-64.36	-4.92
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.20%	14.21%	10.67%	8.15%	7.41%	7.06%	8.34%	10.34%	-6.73%	-5.43%
Augmented Payout Ratio	114.27%	44.61%	43.44%	37.03%	36.85%	39.93%	45.97%	63.86%	-42.35%	-30.48%

Frequently Asked Questions About Wabash National's Financials

When does Wabash National's financial year end?

According to the most recent income statement we have on file, Wabash National's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Wabash National's net income changed over the last 2 years?

Wabash National's net income appears to be on a downward trend, with a most recent value of -$283.08 million in 2024, falling from $112.77 million in 2022. The previous period was $231.86 million in 2023.

What is Wabash National's operating income?

Wabash National's total operating income in 2024 was -$356.10 million, based on the following breakdown:

Total Gross Profit: $265.07 million
Total Operating Expenses: $621.18 million

How has Wabash National revenue changed over the last 2 years?

Over the last 2 years, Wabash National's total revenue changed from $2.50 billion in 2022 to $1.95 billion in 2024, a change of -22.2%.

How much debt does Wabash National have?

Wabash National's total liabilities were at $1.22 billion at the end of 2024, a 50.3% increase from 2023, and a 51.7% increase since 2022.

How much cash does Wabash National have?

In the past 2 years, Wabash National's cash and equivalents has ranged from $58.25 million in 2022 to $179.27 million in 2023, and is currently $115.48 million as of their latest financial filing in 2024.

How has Wabash National's book value per share changed over the last 2 years?

Over the last 2 years, Wabash National's book value per share changed from 8.29 in 2022 to 4.36 in 2024, a change of -47.5%.

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This page (NYSE:WNC) was last updated on 4/16/2025 by MarketBeat.com Staff

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