WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

10-K & 10-Q Filings

Wabtec Corporation, doing business as Wabtec, is a global provider of value-added, technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets. The company was founded in 1869 by George Westinghouse and has since grown through strategic acquisitions, including Faiveley Transport in 2017 and GE Transportation in 2019. Wabtec's business strategy includes accelerating innovation of scalable technologies, growing and refreshing its expansive installed base, leading the decarbonization of rail, and expanding high-margin recurring revenue streams. The company's products and services include diesel-electric, battery, and liquid natural gas powered locomotives, engines, electric motors, digital intelligence products, and components. Wabtec's website is located at www.wabteccorp.com, and its ticker symbol is WAB. The company's total backlog was approximately $22 billion at December 31, 2023.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$1952.63
2376.87
2551.05
3026.88
3291.11
2888.63
3813.05
4251.31
8200.00
7556.10
7822.00
8362.00
9677.00
2194.00
2497.00
14.27%13.81%Cost of Revenue (-)
$1397.21
1682.30
1802.37
2108.47
2260.18
2006.95
2816.44
3129.66
5922.00
5419.00
5453.00
5822.00
6733.00
1529.00
1682.00
14.00%10.01%Gross Profit (+)
$570.42
694.57
764.03
935.98
1047.82
924.24
1065.31
1233.88
2278.00
2137.10
2369.00
2540.00
2944.00
665.00
815.00
14.66%22.56%Selling, General & Administrative (-)
$247.53
245.71
262.72
324.54
347.37
371.81
511.90
633.24
1166.60
948.10
1030.00
1029.00
1139.00
263.00
281.00
13.56%6.84%Research & Development (-)
$37.19
41.31
46.29
61.89
71.20
71.38
95.20
87.45
209.90
162.10
176.00
209.00
218.00
51.00
48.00
15.88%-5.88%Depreciation & Amortization (-)
$15.00
15.27
17.71
22.45
21.66
22.70
36.52
39.75
238.40
282.40
287.00
291.00
321.00
75.00
74.00
29.09%-1.33%Operating Expenses (-)
$299.72
302.29
326.72
408.87
440.25
465.88
643.58
760.45
1614.90
1392.60
1493.00
1529.00
1678.00
389.00
403.00
15.44%3.60%Costs & Expenses (Total) (-)
$1696.94
1998.84
2129.08
2517.35
2700.42
2472.83
3460.06
3890.11
7536.90
6811.60
6946.00
7351.00
8411.00
1918.00
2085.00
14.27%8.71%Operating Income/Loss (+)
$270.70
392.28
437.31
527.11
607.57
458.36
421.73
473.44
663.10
744.50
876.00
1011.00
1266.00
276.00
412.00
13.72%49.28%Non-operating Income/Expense (+)
$-0.38
-0.67
-0.88
-1.68
-5.31
-2.96
-0.97
6.38
2.80
11.60
38.00
29.00
44.00
5.00
-2.00
-140.00%Earnings before Tax (+)
$255.31
377.36
421.09
507.86
585.37
412.84
352.06
367.58
446.80
557.20
737.00
854.00
1092.00
233.00
363.00
12.87%55.79%Tax Expense (-)
$85.17
125.63
128.85
156.18
186.74
99.43
89.77
75.88
120.30
144.90
172.00
213.00
267.00
60.00
86.00
9.99%43.33%Income/Loss (Continuing Operations) (+)
$170.15
251.73
292.24
351.68
398.63
313.40
262.29
291.70
326.50
412.30
565.00
641.00
825.00
173.00
277.00
14.06%60.12%Profit/Loss (+)
$
313.40
262.29
291.70
326.50
412.30
565.00
641.00
825.00
173.00
277.00
60.12%Net Income/Loss (NCI) (-)
$
8.52
0.03
-3.24
-0.20
-2.10
7.00
8.00
10.00
4.00
5.00
25.00%Net Income/Loss (+)
$170.15
251.73
292.24
351.68
398.63
304.89
262.26
294.94
326.70
414.40
558.00
633.00
815.00
169.00
272.00
13.94%60.95%Net Income/Loss (Common) (+)
$170.15
251.73
292.24
351.68
398.63
304.89
262.26
294.94
326.70
414.40
558.00
633.00
815.00
169.00
272.00
13.94%60.95%EPS (Basic)
$3.54
5.24
3.05
3.66
4.14
3.37
2.74
3.06
1.91
2.18
2.96
3.46
4.54
0.94
1.54
2.09%63.83%EPS (Diluted)
$3.51
5.19
3.01
3.62
4.10
3.34
2.72
3.05
1.84
2.17
2.96
3.46
4.53
0.93
1.53
2.15%64.52%Weighted Avg Shares (Basic)
47.82
47.73
95.46
95.78
96.07
90.36
95.45
95.99
170.50
189.90
187.70
182.20
178.80
179.90
176.50
11.62%-1.89%Weighted Avg Shares (Diluted)
48.33
48.37
96.83
96.89
97.01
91.14
96.13
96.46
177.30
190.40
188.10
182.80
179.50
180.60
177.20
11.55%-1.88%Cash
$285.62
215.77
285.76
425.85
429.13
1143.23
233.40
2342.35
604.20
598.70
473.00
541.00
620.00
417.00
639.00
6.67%53.24%Receivables
$346.28
389.92
554.50
631.23
598.79
942.51
1166.79
1146.78
1149.90
969.30
1085.00
975.00
1160.00
956.00
997.00
10.60%4.29%Inventory
$348.17
407.04
403.23
510.95
478.57
658.51
742.63
844.89
2287.10
2085.30
2081.00
2578.00
2808.00
2848.00
2900.00
19.00%1.83%Other Assets (Current)
$75.71
80.22
89.56
69.84
105.95
123.38
122.29
115.65
150.90
226.50
193.00
233.00
267.00
275.00
263.00
11.07%-4.36%Assets (Current)
$1055.78
1092.94
1333.05
1637.86
1612.45
2867.63
2265.11
4449.67
4192.10
3879.80
3832.00
4327.00
4855.00
4496.00
4799.00
13.56%6.74%Property, Plant & Equipment (Net)
$222.02
244.09
276.08
339.11
353.19
518.38
573.97
563.74
1655.80
1601.60
1497.00
1429.00
1485.00
1422.00
1445.00
17.16%1.62%Accumulated Depreciation
$291.09
311.84
321.66
343.92
364.10
393.85
452.07
472.81
560.20
Goodwill & Intangibles
$844.89
974.34
1172.11
1285.15
1299.07
3132.63
3664.53
3526.42
12464.60
12354.40
12292.00
11910.00
11985.00
11873.00
11845.00
24.73%-0.24%Other Assets
$36.26
40.17
40.76
41.72
35.63
62.39
76.36
109.41
71.50
618.70
833.00
850.00
663.00
878.00
658.00
27.40%-25.06%Assets (Non-current)
$1103.17
1258.60
1488.95
1665.98
1687.89
3713.39
4314.87
4199.57
14752.10
14574.70
14622.00
14189.00
14133.00
14173.00
13948.00
23.68%-1.59%Assets (Total)
$2158.95
2351.54
2822.00
3303.84
3300.34
6581.02
6579.98
8649.23
18944.20
18454.50
18454.00
18516.00
18988.00
18669.00
18747.00
19.86%0.42%Accounts Payable
$293.21
301.81
383.72
470.70
389.42
675.54
716.74
762.63
1501.30
1151.70
1347.00
1601.00
1591.00
1648.00
1632.00
15.13%-0.97%Debt (Current)
$0.07
0.04
0.42
0.79
0.43
129.81
47.23
64.10
95.70
447.20
2.00
251.00
781.00
975.00
3.00
117.94%-99.69%Other Liabilities (Current)
$248.10
251.20
195.25
267.31
274.93
641.30
809.37
819.96
1661.00
1627.40
1561.00
1615.00
1684.00
1542.00
1518.00
17.30%-1.56%Liabilities (Current)
$541.38
553.06
579.40
738.80
664.78
1446.64
1573.33
1646.69
3258.00
3226.30
2910.00
3467.00
4056.00
4165.00
3153.00
18.27%-24.30%Debt (Non-current)
$395.81
317.85
520.40
695.29
1762.97
1823.30
3792.77
4333.60
3792.20
4056.00
3751.00
3288.00
3189.00
3997.00
19.29%25.34%Other Liabilities
$174.12
198.61
655.43
236.34
238.93
394.59
354.81
340.69
1359.00
1283.30
1249.00
1151.00
1120.00
1181.00
1093.00
16.78%-7.45%Liabilities (Non-current)
$569.92
516.47
655.43
756.74
934.22
2157.55
2178.12
4133.47
5692.60
5075.50
5305.00
4902.00
4408.00
4370.00
5090.00
18.59%16.48%Liabilities (Total)
$1111.31
1069.53
1234.83
1495.54
1599.00
3604.19
3751.45
5780.16
8950.60
8301.80
8215.00
8369.00
8464.00
8535.00
8243.00
18.43%-3.42%Treasury Stock
$309.20
349.39
372.97
392.26
775.12
838.95
827.38
816.14
807.10
1010.10
1306.00
1769.00
2171.00
1941.00
2345.00
17.63%20.81%Retained Earnings
$1053.71
1297.77
1576.70
1909.14
2280.80
2553.26
2773.30
3021.97
3267.00
3588.90
4055.00
4577.00
5269.00
4715.00
5505.00
14.35%16.76%AOCI
$-60.90
-53.56
-34.86
-159.49
-276.72
-379.61
-44.99
-256.58
-382.60
-339.10
-466.00
-661.00
-590.00
-631.00
-667.00
-5.71%Shareholder's Equity
$1047.64
1282.02
1587.17
1808.30
1701.34
2976.82
2828.53
2869.07
9993.60
10152.70
10239.00
10147.00
10524.00
10134.00
10504.00
21.20%3.65%Liabilities & Equity
$2158.95
2351.54
2822.00
3303.84
3300.34
6581.02
6579.98
8649.23
18944.20
18454.50
18454.00
18516.00
18988.00
18669.00
18747.00
19.86%0.42%Net Income/Loss
$170.15
251.73
292.24
351.68
398.63
313.40
262.29
291.70
326.50
412.30
565.00
641.00
825.00
173.00
277.00
14.06%60.12%Depreciation & Amortization
$44.85
44.14
51.19
61.26
64.73
69.80
103.25
109.30
401.40
473.30
491.00
479.00
531.00
123.00
123.00
22.87%0.00%Increase/Decrease in Working Capital
$-34.80
76.85
142.85
-42.57
44.11
-56.51
132.50
107.24
-331.20
72.20
63.00
109.00
97.00
322.00
69.00
-78.57%Share-based Compensation
$18.65
19.85
24.11
26.13
26.02
20.81
21.29
25.32
50.00
19.50
46.00
41.00
47.00
10.00
12.00
8.01%20.00%Adjustments to Reconcile Net Income
$78.48
-14.29
-56.58
120.71
49.63
135.90
-73.48
22.97
689.00
371.40
508.00
397.00
376.00
-198.00
57.00
13.95%128.79%Net Cash (Operating)
$248.63
237.44
235.65
472.38
448.26
449.31
188.81
314.67
1015.50
783.70
1073.00
1038.00
1201.00
-25.00
334.00
14.02%1436.00%Capital Expenditure
$146.18
184.94
258.69
347.68
177.19
232.97
1009.71
133.17
3177.80
155.40
540.00
235.00
492.00
32.00
31.00
10.64%-3.13%Net Cash (Investing)
$-146.18
-184.94
-258.69
-347.68
-380.14
-775.07
-275.73
-147.29
-3177.80
-155.40
-540.00
-235.00
-492.00
-32.00
-19.00
40.63%Increase/Decrease in Debt
$-26.20
-78.06
129.23
69.58
174.72
772.25
-52.80
2026.75
558.80
-199.30
-161.00
-30.00
42.00
154.00
-58.00
-137.66%Increase/Decrease in Equity
$-26.02
-46.56
-33.00
-23.42
-384.69
-210.19
4.43
9.96
0.80
-207.20
-300.00
-473.00
-409.00
-178.00
-175.00
1.69%Dividends Paid
$3.85
7.67
12.64
19.25
26.96
32.43
42.22
46.28
81.70
92.50
92.00
111.00
123.00
31.00
36.00
33.47%16.13%Net Cash (Financing)
$-46.76
-124.72
93.01
25.51
-248.91
524.19
-97.43
1978.11
461.50
-619.00
-653.00
-708.00
-633.00
-72.00
-289.00
-301.39%Effect of Exchange Rate
$-7.01
2.38
0.02
-10.12
-18.87
-26.14
19.27
-36.54
-37.30
-14.80
-6.00
-27.00
3.00
5.00
-7.00
-240.00%Increase/Decrease in Cash
$48.67
-69.85
69.99
140.09
-199.66
172.29
-165.08
2108.95
-1738.10
-5.50
-126.00
68.00
79.00
-124.00
19.00
4.12%115.32%Cash (Beginning)
$236.94
285.62
215.77
285.76
425.85
226.19
398.48
233.40
2342.30
604.20
599.00
473.00
541.00
541.00
620.00
7.12%14.60%Cash (Ending)
$285.62
215.77
285.76
425.85
226.19
398.48
233.40
2342.35
604.20
598.70
473.00
541.00
620.00
417.00
639.00
6.67%53.24%NOPAT
$180.40
261.69
303.49
365.01
413.75
347.96
314.19
375.71
484.56
550.89
671.56
758.84
956.46
204.93
314.39
14.91%53.42%Gross Margin %
29.21%
29.22%
29.95%
30.92%
31.84%
32.00%
27.94%
29.02%
27.78%
28.28%
30.29%
30.38%
30.42%
30.31%
32.64%
Operating Margin %
13.86%
16.50%
17.14%
17.41%
18.46%
15.87%
11.06%
11.14%
8.09%
9.85%
11.20%
12.09%
13.08%
12.58%
16.50%
NOPAT Margin %
9.24%
11.01%
11.90%
12.06%
12.57%
12.05%
8.24%
8.84%
5.91%
7.29%
8.59%
9.07%
9.88%
9.34%
12.59%
Net Margin %
8.71%
10.59%
11.46%
11.62%
12.11%
10.55%
6.88%
6.94%
3.98%
5.48%
7.13%
7.57%
8.42%
7.70%
10.89%
Tax Rate %
33.36%
33.29%
30.60%
30.75%
31.90%
24.09%
25.50%
20.64%
26.92%
26.01%
23.34%
24.94%
24.45%
25.75%
23.69%
ROA
8.36%
11.13%
10.75%
11.05%
12.54%
5.29%
4.78%
4.34%
2.56%
2.99%
3.64%
4.10%
5.04%
1.10%
1.68%
ROE
17.22%
20.41%
19.12%
20.19%
24.32%
11.69%
11.11%
13.10%
4.85%
5.43%
6.56%
7.48%
9.09%
2.02%
2.99%
ROIC
11.72%
14.51%
13.92%
14.81%
16.34%
7.66%
5.97%
7.04%
3.06%
3.52%
4.39%
5.05%
6.12%
1.38%
2.09%
Asset Turnover
0.90
1.01
0.90
0.92
1.00
0.44
0.58
0.49
0.43
0.41
0.42
0.45
0.51
0.12
0.13
Inventory Turnover
4.01
4.13
4.47
4.13
4.72
3.05
3.79
3.70
2.59
2.60
2.62
2.26
2.40
0.54
0.58
Equity Multiplier
2.06
1.83
1.78
1.83
1.94
2.21
2.33
3.01
1.90
1.82
1.80
1.82
1.80
1.84
1.78
Current Ratio
1.95
1.98
2.30
2.22
2.43
1.98
1.44
2.70
1.29
1.20
1.32
1.25
1.20
1.08
1.52
Quick Ratio
1.17
1.10
1.45
1.43
1.55
1.44
0.89
2.12
0.54
0.49
0.54
0.44
0.44
0.33
0.52
Debt/Equity Ratio
0.38
0.25
0.00
0.29
0.41
0.64
0.66
1.34
0.44
0.42
0.40
0.39
0.39
0.41
0.38
Working Capital/Sales
0.24
0.25
0.29
0.28
0.27
0.31
0.27
0.29
0.21
0.22
0.19
0.20
0.22
0.73
0.70
R&D/Sales
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.02
0.02
0.02
0.02
0.02
0.02
Dividend Payout Ratio %
2.13%
2.93%
4.17%
5.27%
6.52%
9.32%
13.44%
12.32%
16.86%
16.79%
13.70%
14.63%
12.86%
15.13%
11.45%
Total Payout
$56.07
132.28
-83.58
-26.91
236.93
-529.63
90.59
-1990.43
-477.90
499.00
553.00
614.00
490.00
55.00
269.00
19.80%389.09%Payout Ratio %
31.08%
50.55%
-27.54%
-7.37%
57.27%
-152.21%
28.83%
-529.78%
-98.63%
90.58%
82.35%
80.91%
51.23%
26.84%
85.56%