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WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

EDGAR
WAB Current report (8-K) · filed 2026-10-21

Annual consolidated revenue for 2025: about USD 11.17B, using the latest reported figures. The previous period, 2024, was about USD 10.39B.

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Watchlist

Latest quarter

Revenue

3.12 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 3120000000 USD Source

Operating margin

20.03%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 625000000 USD Source
  • Revenue: 3120000000 USD Source

Operating cash flow

455 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1095000000 USD Source
  • Operating Cash Flow: 640000000 USD Source

Free cash flow

381 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1095000000 USD Source
  • Operating Cash Flow: 640000000 USD Source
  • Capital Expenditure: 182000000 USD Source
  • Capital Expenditure: 108000000 USD Source
Cash and cash equivalents
514 million USD Source
Exact value

514000000 USD

Long-term debt including current maturities
6.38 billion USD Source
Exact value

6379000000 USD

Shares outstanding
168 million shares Source
Exact value

168000000 shares

Reported share-count change

-1.70% · -2.9 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 170900000 shares · 2025-09-30· Source
  • 168000000 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

12.2 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 11167000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 8202000000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 2950000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 3179000000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 3120000000 USD · 2026-07-01 – 2026-09-30 Source

Net income

1.37 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 1170000000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 968000000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 362000000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 395000000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 409000000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

2.09 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 1759000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 767000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 199000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 640000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 199000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1095000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 640000000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

304 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 260000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 138000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 46000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 108000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 46000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 182000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 108000000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

1.78 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 1759000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 767000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 199000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 640000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 199000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1095000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 640000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 260000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 138000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 46000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 108000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 46000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 182000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 108000000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-21.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 7 of 11 periods available· newest 2021-12-31
  • Long-term debt including current maturities: 8 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +7.5%

    Prior period

    USD 10.39 billion

    –

    Current period

    USD 11.17 billion

    –

    Exact inputs and evidence

    11167000000 − 10387000000 = 780000000 USD

    10387000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    11167000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +10.8%

    Prior period

    USD 1.06 billion

    –

    Current period

    USD 1.17 billion

    –

    Exact inputs and evidence

    1170000000 − 1056000000 = 114000000 USD

    1056000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1170000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -4.1%

    Prior period

    USD 1.83 billion

    –

    Current period

    USD 1.76 billion

    –

    Exact inputs and evidence

    1759000000 − 1834000000 = -75000000 USD

    1834000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1759000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +25.6%

    Prior period

    USD 207 million

    –

    Current period

    USD 260 million

    –

    Exact inputs and evidence

    260000000 − 207000000 = 53000000 USD

    207000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    260000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 11.17 billion 100% of revenue
  • Cost of revenue USD 7.36 billion 66% of revenue
  • Operating expenses USD 2.01 billion 18% of revenue
  • Operating income USD 1.79 billion 16% of revenue
  • Tax, interest and other Derived USD 623 million 5.6% of revenue
  • Net income USD 1.17 billion 10% of revenue

Cash

  • Operating cash flow USD 1.76 billion 16% of revenue
  • Capital expenditure USD 260 million 2.3% of revenue
  • Free cash flow Derived USD 1.5 billion 13% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 10%84%
  • 2017 89%
  • 2018 89%
  • 2019 92%
  • 2020 90%
  • 2021 89%
  • 2022 88%
  • 2023 87%
  • 2024 10%85%
  • 2025 10%84%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-312931188000 2474581000 Derived 456607000 151720000 Derived 304887000 400314000 Derived
Source
2017 2017-01-01 – 2017-12-313881700000 3460600000 Derived 421100000 158800000 Derived 262300000 99300000 Derived
Source
2018 2018-01-01 – 2018-12-314363500000 3890100000 Derived 473400000 178500000 Derived 294900000 221400000 Derived
Source
2019 2019-01-01 – 2019-12-318200000000 7537000000 Derived 663000000 336000000 Derived 327000000 830000000 Derived
Source
2020 2020-01-01 – 2020-12-317556000000 6811000000 Derived 745000000 331000000 Derived 414000000 648000000 Derived
Source
2021 2021-01-01 – 2021-12-317822000000 6946000000 Derived 876000000 318000000 Derived 558000000 943000000 Derived
Source
2022 2022-01-01 – 2022-12-318362000000 7351000000 Derived 1011000000 378000000 Derived 633000000 889000000 Derived
Source
2023 2023-01-01 – 2023-12-319677000000 8411000000 Derived 1266000000 451000000 Derived 815000000 1015000000 Derived
Source
2024 2024-01-01 – 2024-12-3110387000000 8778000000 Derived 1609000000 553000000 Derived 1056000000 1627000000 Derived
Source
2025 2025-01-01 – 2025-12-3111167000000 9374000000 Derived 1793000000 623000000 Derived 1170000000 1499000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 11.2B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.12.1B9.0B6.0B3.0B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue2931188000
2017Revenue3881700000
2018Revenue4363500000
2019Revenue8200000000
2020Revenue7556000000
2021Revenue7822000000
2022Revenue8362000000
2023Revenue9677000000
2024Revenue10387000000
2025Revenue11167000000

Revenue growth

Change in revenue from the same financial period one year earlier.

7.5% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.96%67%38%9%-19%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year-11.4%
2017Year over year32.4%
2018Year over year12.4%
2019Year over year87.9%
2020Year over year-7.9%
2021Year over year3.5%
2022Year over year6.9%
2023Year over year15.7%
2024Year over year7.3%
2025Year over year7.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 16.1% 2025
Net margin 10.5% 2025
Free cash flow margin 13.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.17.3%13.0%8.7%4.3%0.0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin15.6%
2017Operating margin10.8%
2018Operating margin10.8%
2019Operating margin8.1%
2020Operating margin9.9%
2021Operating margin11.2%
2022Operating margin12.1%
2023Operating margin13.1%
2024Operating margin15.5%
2025Operating margin16.1%
2016Net margin10.4%
2017Net margin6.8%
2018Net margin6.8%
2019Net margin4%
2020Net margin5.5%
2021Net margin7.1%
2022Net margin7.6%
2023Net margin8.4%
2024Net margin10.2%
2025Net margin10.5%
2016Free cash flow margin13.7%
2017Free cash flow margin2.6%
2018Free cash flow margin5.1%
2019Free cash flow margin10.1%
2020Free cash flow margin8.6%
2021Free cash flow margin12.1%
2022Free cash flow margin10.6%
2023Free cash flow margin10.5%
2024Free cash flow margin15.7%
2025Free cash flow margin13.4%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 1.8B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.0B1.5B990.4M495.2M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow450530000
2017Operating cash flow188800000
2018Operating cash flow314700000
2019Operating cash flow1016000000
2020Operating cash flow784000000
2021Operating cash flow1073000000
2022Operating cash flow1038000000
2023Operating cash flow1201000000
2024Operating cash flow1834000000
2025Operating cash flow1759000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 1.5B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.8B1.3B878.6M439.3M0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow400314000
2017Free cash flow99300000
2018Free cash flow221400000
2019Free cash flow830000000
2020Free cash flow648000000
2021Free cash flow943000000
2022Free cash flow889000000
2023Free cash flow1015000000
2024Free cash flow1627000000
2025Free cash flow1499000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

49.3% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.72%54%36%18%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets54.8%
2017Liabilities / assets57%
2018Liabilities / assets66.8%
2019Liabilities / assets47.2%
2020Liabilities / assets45%
2021Liabilities / assets44.5%
2022Liabilities / assets45.2%
2023Liabilities / assets44.6%
2024Liabilities / assets45.8%
2025Liabilities / assets49.3%

Current assets to current liabilities

Current assets divided by current liabilities.

1.11× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.92×2.19×1.46×0.73×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities1.98×
2017Current assets / current liabilities1.44×
2018Current assets / current liabilities2.7×
2019Current assets / current liabilities1.29×
2020Current assets / current liabilities1.2×
2021Current assets / current liabilities1.32×
2022Current assets / current liabilities1.25×
2023Current assets / current liabilities1.2×
2024Current assets / current liabilities1.3×
2025Current assets / current liabilities1.11×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 304.89 million
Exact value

Exact value: 304887000 USD

2016-01-01 – 2016-12-31: 304887000 USD Inspect Net Income Open source
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USD 450.53 million
Exact value

Exact value: 450530000 USD

2016-01-01 – 2016-12-31: 450530000 USD Inspect Operating Cash Flow Open source
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USD 50.22 million
Exact value

Exact value: 50216000 USD

2016-01-01 – 2016-12-31: 50216000 USD Inspect Capital Expenditure Open source
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USD 400.31 million
Calculation and evidence

450530000 − 50216000 USD

Exact free cash flow: 400314000 USD

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2017 2017-01-01 – 2017-12-31
USD 262.3 million
Exact value

Exact value: 262300000 USD

2017-01-01 – 2017-12-31: 262300000 USD Inspect Net Income Open source
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USD 188.8 million
Exact value

Exact value: 188800000 USD

2017-01-01 – 2017-12-31: 188800000 USD Inspect Operating Cash Flow Open source
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USD 89.5 million
Exact value

Exact value: 89500000 USD

2017-01-01 – 2017-12-31: 89500000 USD Inspect Capital Expenditure Open source
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USD 99.3 million
Calculation and evidence

188800000 − 89500000 USD

Exact free cash flow: 99300000 USD

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2018 2018-01-01 – 2018-12-31
USD 294.9 million
Exact value

Exact value: 294900000 USD

2018-01-01 – 2018-12-31: 294900000 USD Inspect Net Income Open source
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USD 314.7 million
Exact value

Exact value: 314700000 USD

2018-01-01 – 2018-12-31: 314700000 USD Inspect Operating Cash Flow Open source
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USD 93.3 million
Exact value

Exact value: 93300000 USD

2018-01-01 – 2018-12-31: 93300000 USD Inspect Capital Expenditure Open source
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USD 221.4 million
Calculation and evidence

314700000 − 93300000 USD

Exact free cash flow: 221400000 USD

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2019 2019-01-01 – 2019-12-31
USD 327 million
Exact value

Exact value: 327000000 USD

2019-01-01 – 2019-12-31: 327000000 USD Inspect Net Income Open source
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USD 1.02 billion
Exact value

Exact value: 1016000000 USD

2019-01-01 – 2019-12-31: 1016000000 USD Inspect Operating Cash Flow Open source
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USD 186 million
Exact value

Exact value: 186000000 USD

2019-01-01 – 2019-12-31: 186000000 USD Inspect Capital Expenditure Open source
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USD 830 million
Calculation and evidence

1016000000 − 186000000 USD

Exact free cash flow: 830000000 USD

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2020 2020-01-01 – 2020-12-31
USD 414 million
Exact value

Exact value: 414000000 USD

2020-01-01 – 2020-12-31: 414000000 USD Inspect Net Income Open source
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USD 784 million
Exact value

Exact value: 784000000 USD

2020-01-01 – 2020-12-31: 784000000 USD Inspect Operating Cash Flow Open source
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USD 136 million
Exact value

Exact value: 136000000 USD

2020-01-01 – 2020-12-31: 136000000 USD Inspect Capital Expenditure Open source
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USD 648 million
Calculation and evidence

784000000 − 136000000 USD

Exact free cash flow: 648000000 USD

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2021 2021-01-01 – 2021-12-31
USD 558 million
Exact value

Exact value: 558000000 USD

2021-01-01 – 2021-12-31: 558000000 USD Inspect Net Income Open source
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USD 1.07 billion
Exact value

Exact value: 1073000000 USD

2021-01-01 – 2021-12-31: 1073000000 USD Inspect Operating Cash Flow Open source
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USD 130 million
Exact value

Exact value: 130000000 USD

2021-01-01 – 2021-12-31: 130000000 USD Inspect Capital Expenditure Open source
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USD 943 million
Calculation and evidence

1073000000 − 130000000 USD

Exact free cash flow: 943000000 USD

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2022 2022-01-01 – 2022-12-31
USD 633 million
Exact value

Exact value: 633000000 USD

2022-01-01 – 2022-12-31: 633000000 USD Inspect Net Income Open source
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USD 1.04 billion
Exact value

Exact value: 1038000000 USD

2022-01-01 – 2022-12-31: 1038000000 USD Inspect Operating Cash Flow Open source
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USD 149 million
Exact value

Exact value: 149000000 USD

2022-01-01 – 2022-12-31: 149000000 USD Inspect Capital Expenditure Open source
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USD 889 million
Calculation and evidence

1038000000 − 149000000 USD

Exact free cash flow: 889000000 USD

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2023 2023-01-01 – 2023-12-31
USD 815 million
Exact value

Exact value: 815000000 USD

2023-01-01 – 2023-12-31: 815000000 USD Inspect Net Income Open source
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USD 1.2 billion
Exact value

Exact value: 1201000000 USD

2023-01-01 – 2023-12-31: 1201000000 USD Inspect Operating Cash Flow Open source
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USD 186 million
Exact value

Exact value: 186000000 USD

2023-01-01 – 2023-12-31: 186000000 USD Inspect Capital Expenditure Open source
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USD 1.02 billion
Calculation and evidence

1201000000 − 186000000 USD

Exact free cash flow: 1015000000 USD

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2024 2024-01-01 – 2024-12-31
USD 1.06 billion
Exact value

Exact value: 1056000000 USD

2024-01-01 – 2024-12-31: 1056000000 USD Inspect Net Income Open source
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USD 1.83 billion
Exact value

Exact value: 1834000000 USD

2024-01-01 – 2024-12-31: 1834000000 USD Inspect Operating Cash Flow Open source
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USD 207 million
Exact value

Exact value: 207000000 USD

2024-01-01 – 2024-12-31: 207000000 USD Inspect Capital Expenditure Open source
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USD 1.63 billion
Calculation and evidence

1834000000 − 207000000 USD

Exact free cash flow: 1627000000 USD

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2025 2025-01-01 – 2025-12-31
USD 1.17 billion
Exact value

Exact value: 1170000000 USD

2025-01-01 – 2025-12-31: 1170000000 USD Inspect Net Income Open source
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USD 1.76 billion
Exact value

Exact value: 1759000000 USD

2025-01-01 – 2025-12-31: 1759000000 USD Inspect Operating Cash Flow Open source
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USD 260 million
Exact value

Exact value: 260000000 USD

2025-01-01 – 2025-12-31: 260000000 USD Inspect Capital Expenditure Open source
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USD 1.5 billion
Calculation and evidence

1759000000 − 260000000 USD

Exact free cash flow: 1499000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

157 filings · 12,407 latest values · 12,407 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000943452, 943452, WAB, edgar:943452

Also known as WABTEC CORP, WESTINGHOUSE AIR BRAKE CO /DE/, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION, WESTINGHOUSE AIR BRAKE TECHNOLOGIESCORP