WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

WAB 10-K · Q4 2025

WAB Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 2,965 2,583 +14.8%
Show Product Lines breakouts
Aftermarket · Transit Segment 491 450 +9.1%
Components · Freight Segment 429 386 +11.1%
Digital Intelligence · Freight Segment 361 207 +74.4%
Equipment · Freight Segment 666 499 +33.5%
Original Equipment Manufacturer · Transit Segment 351 339 +3.5%
Product 2,453 2,111 +16.2%
Service 512 472 +8.5%
Service · Freight Segment 667 702 -5.0%
Show Business Segments breakouts
Freight Segment 2,123 1,794 +18.3%
Freight Segment · Intersegment Elimination 11 11 0.0%
Freight Segment · Operating Segments 2,123 1,794 +18.3%
Transit Segment 842 789 +6.7%
Transit Segment · Intersegment Elimination 13 15 -13.3%
Transit Segment · Operating Segments 842 789 +6.7%
Show Consolidation Items breakouts
Intersegment Elimination -24 -26 +7.7%
Cost of Revenue -1,999 -1,786 -11.9%
Show Product Lines breakouts
Product -1,696 -1,505 -12.7%
Service -303 -281 -7.8%
Show Business Segments breakouts
Freight Segment · Operating Segments -1,420 -1,238 -14.7%
Transit Segment · Operating Segments -579 -548 -5.7%
Gross Profit 966 797 +21.2%
Show Business Segments breakouts
Freight Segment · Operating Segments 703 556 +26.4%
Transit Segment · Operating Segments 263 241 +9.1%
Selling, General & Administrative -461 -333 -38.4%
Show Business Segments breakouts
Freight Segment · Operating Segments -259 -176 -47.2%
Transit Segment · Operating Segments -132 -115 -14.8%
Show Consolidation Items breakouts
Corporate Non Segment -70 -42 -66.7%
Research & Development -68 -51 -33.3%
Show Business Segments breakouts
Freight Segment · Operating Segments -51 -41 -24.4%
Transit Segment · Operating Segments -17 -10 -70.0%
Amortization Of Intangible Assets -81 -79 -2.5%
Show Business Segments breakouts
Freight Segment · Operating Segments -75 -66 -13.6%
Transit Segment · Operating Segments -6 -13 +53.8%
Operating Expenses -610 -463 -31.7%
Operating Income 356 334 +6.6%
Show Business Segments breakouts
Freight Segment · Operating Segments 318 273 +16.5%
Transit Segment · Operating Segments 108 103 +4.9%
Show Consolidation Items breakouts
Corporate Non Segment -70 -42 -66.7%
Interest Expense -68 -53 -28.3%
Non-Operating Income (Expense) 3 3 0.0%
Income Before Taxes 291 284 +2.5%
Show Business Segments breakouts
Freight Segment · Operating Segments 318 273 +16.5%
Transit Segment · Operating Segments 108 103 +4.9%
Show Consolidation Items breakouts
Corporate Non Segment -135 -92 -46.7%
Income Tax Expense (Benefit) -87 -71 -22.5%
Net Income 204 213 -4.2%
Net Income Loss Attributable To Noncontrolling Interest -2 -1 -100.0%
Net Income 202 212 -4.7%
EPS (Basic) 1.18 1.24 -4.8%
EPS (Diluted) 1.19 1.24 -4.0%
Wtd Avg Shares (Basic) 0 -1 +100.0%
Wtd Avg Shares (Diluted) -0.1 -0.9 +88.9%
Comprehensive Income 190 -27 +803.7%
Other Comprehensive Income -12 -239 +95.0%
Net Income Loss Available To Common Stockholders Basic 202 211 -4.3%
Income Loss From Equity Method Investments 1 5 -80.0%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 789 715 +10.3%
Accounts Receivable 1,410 1,152 +22.4%
Show Collateral breakouts
Collateral Pledged 623 693 -10.1%
Contract With Customer Asset Net Current 487 550 -11.5%
Inventory 2,745 2,314 +18.6%
Other Assets Current 263 212 +24.1%
Total Current Assets 5,694 4,943 +15.2%
Non-Current Assets
Property, Plant & Equipment 1,616 1,447 +11.7%
Goodwill 10,216 8,710 +17.3%
Show Business Segments breakouts
Freight Segment 8,567 7,248 +18.2%
Transit Segment 1,649 1,462 +12.8%
Other Non-Current Assets 705 668 +5.5%
Assets Noncurrent 16,375 13,759 +19.0%
Total Assets 22,069 18,702 +18.0%
Show Business Segments breakouts
Freight Segment · Operating Segments 16,049 13,176 +21.8%
Transit Segment · Operating Segments 4,344 3,861 +12.5%
Show Consolidation Items breakouts
Corporate Non Segment 1,676 1,665 +0.7%
Intangible Assets 2,987 2,339 +27.7%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 1,450 849 +70.8%
Order Or Production Backlog 698 786 -11.2%
Technology Based Intangible Assets 839 704 +19.2%
Other Assets
Intangible Assets Net Excluding Goodwill 3,838 2,934 +30.8%
Current Liabilities
Accounts Payable 1,402 1,300 +7.8%
Deferred Revenue (Current) 1,015 693 +46.5%
Employee Related Liabilities Current 490 425 +15.3%
Product Warranty Accrual Classified Current 266 248 +7.3%
Current Portion of Long-Term Debt 1,250 500 +150.0%
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure 1,246 496 +151.2%
Other Accrued Liabilities Current 727 626 +16.1%
Total Current Liabilities 5,150 3,792 +35.8%
Non-Current Liabilities
Long-Term Debt 4,291 3,480 +23.3%
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure 4,392 3,448 +27.4%
Deferred Tax Liabilities 606 376 +61.2%
Other Non-Current Liabilities 832 921 -9.7%
Total Liabilities 10,879 8,569 +27.0%
Long-Term Debt 5,541 3,980 +39.2%
Show Debt Instrument breakouts
1.25% Senior Notes (EUR), due 2027 · Estimate Of Fair Value Fair Value Disclosure 575 495 +16.2%
1.25% Senior Notes (EUR), due 2027 · Senior Notes 583 514 +13.4%
2025 Credit Agreement · Secured Debt 721
2025 Credit Agreement · Secured Debt 725
2025 Term Credit Agreement · Secured Debt 500
2025 Term Credit Agreement · Secured Debt 500
3.45% Senior Notes, due 2026 · Estimate Of Fair Value Fair Value Disclosure 746 732 +1.9%
3.45% Senior Notes, due 2026 · Senior Notes 750 750 0.0%
4.70% Senior Notes, due 2028 · Estimate Of Fair Value Fair Value Disclosure 1,266 1,239 +2.2%
4.70% Senior Notes, due 2028 · Senior Notes 1,247 1,246 +0.1%
4.90% Senior Notes, due 2030 · Estimate Of Fair Value Fair Value Disclosure 512
4.90% Senior Notes, due 2030 · Senior Notes 496
5.50% Senior Notes, due 2035 · Estimate Of Fair Value Fair Value Disclosure 783
5.50% Senior Notes, due 2035 · Senior Notes 743
5.611% Senior Notes, due 2034 · Estimate Of Fair Value Fair Value Disclosure 526 507 +3.7%
5.611% Senior Notes, due 2034 · Senior Notes 496 496 0.0%
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure 5,638 3,944 +43.0%
Estimate Of Fair Value Fair Value Disclosure · Other Debt Securities 5
Show Long-Term Debt Type breakouts
Other Debt Securities 5
Contract With Customer Liability Noncurrent 259 389 -33.4%
Stockholders' Equity
Common Stock 1 2 -50.0%
Additional Paid In Capital Common Stock 8,069 8,023 +0.6%
Treasury Stock Common Value -190 -3,273 +94.2%
Retained Earnings 3,878 6,185 -37.3%
Accumulated Other Comprehensive Income -616 -846 +27.2%
Total Stockholders' Equity 11,142 10,091 +10.4%
Minority Interest 48 42 +14.3%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 11,190 10,133 +10.4%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -48 -45 -6.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent 21 17 +23.5%
Accumulated Other Comprehensive Income -616 -846 +27.2%
Accumulated Translation Adjustment -589 -818 +28.0%
Additional Paid In Capital 8,069 8,023 +0.6%
Common Stock 1 2 -50.0%
Noncontrolling Interest 48 42 +14.3%
Retained Earnings 3,878 6,185 -37.3%
Treasury Stock Common -190 -3,273 +94.2%
Total Liabilities & Equity 22,069 18,702 +18.0%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation And Amortization 136 128 +6.2%
Show Business Segments breakouts
Freight Segment · Operating Segments 114 101 +12.9%
Transit Segment · Operating Segments 19 23 -17.4%
Show Consolidation Items breakouts
Corporate Non Segment 3 4 -25.0%
Stock-Based Compensation 22 22 0.0%
Amortization Of Intangible Liability -8 -10 +20.0%
Gain Loss On Sale Of Property Plant Equipment 0 2 -100.0%
Change in Accounts Receivable 332 58 +472.4%
Change in Inventory 46 -2 +2400.0%
Change in Accounts Payable -42 -17 -147.1%
Increase Decrease In Accrued Income Taxes Payable -61 -12 -408.3%
Change in Deferred Revenue 145 200 -27.5%
Increase Decrease In Accrued Liabilities 60 63 -4.8%
Increase Decrease In Other Operating Capital Net 98 27 +263.0%
Net Cash from Operations 992 723 +37.2%
Investing Activities
Payments To Acquire Businesses Net Of Cash Acquired -765 -155 -393.5%
Capital Expenditures -122 -84 -45.2%
Proceeds From Sale Of Property Plant And Equipment 2 0
Net Cash from Investing -860 -237 -262.9%
Financing Activities
Proceeds From Issuance Of Long Term Debt And Capital Securities Net 851 386 +120.5%
Repayments Of Long Term Debt And Capital Securities -602 -388 -55.2%
Share Repurchases -75 -123 +39.0%
Payments Of Dividends Common Stock -43 -34 -26.5%
Tax Withholding for Share Compensation -1 -1 0.0%
Payments To Minority Shareholders 0 0
Proceeds From Payments For Other Financing Activities -6 -2 -200.0%
Net Cash from Financing 124 -162 +176.5%
Other Cash Flow
Net Change in Cash 261 305 -14.4%

Values in millions USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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