Westinghouse Air Brake Technologies Corporation (WAB) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 2.95B | 2.96B | 2.89B | 2.71B | 2.61B | 2.58B | 2.66B | 2.64B | 2.5B | 2.53B | 2.55B | 2.41B | 2.19B | 2.31B | 2.08B | 2.05B | 1.93B | 2.07B | 1.91B | 2.01B |
| Revenue Growth % | 13.03% | 14.79% | 8.37% | 2.34% | 4.53% | 2.26% | 4.43% | 9.85% | 13.81% | 9.54% | 22.54% | 17.53% | 13.86% | 11.26% | 9.12% | 1.79% | 5.3% | 2.42% | 2.25% | 15.81% |
| Cost of Goods Sold | 1.89B | 2.08B | 1.88B | 1.77B | 1.71B | 1.79B | 1.78B | 1.77B | 1.68B | 1.76B | 1.76B | 1.68B | 1.53B | 1.65B | 1.43B | 1.4B | 1.33B | 1.42B | 1.3B | 1.43B |
| COGS % of Revenue | 64.03% | 70.02% | 65.28% | 65.34% | 65.52% | 69.14% | 66.95% | 66.94% | 67.36% | 69.75% | 68.94% | 69.96% | 69.69% | 71.73% | 68.86% | 68.51% | 69.12% | 68.52% | 68.38% | 71.17% |
| Gross Profit | 1.06B | 889M | 1B | 938M | 900M | 797M | 880M | 874M | 815M | 764M | 792M | 723M | 665M | 652M | 648M | 645M | 595M | 652.4M | 603M | 580M |
| Gross Margin % | 35.97% | 29.98% | 34.72% | 34.66% | 34.48% | 30.86% | 33.05% | 33.06% | 32.64% | 30.25% | 31.06% | 30.04% | 30.31% | 28.27% | 31.14% | 31.49% | 30.88% | 31.48% | 31.62% | 28.83% |
| Gross Profit Growth % | 17.89% | 11.54% | 13.86% | 7.32% | 10.43% | 4.32% | 11.11% | 20.89% | 22.56% | 17.18% | 22.22% | 12.09% | 11.76% | -0.06% | 7.46% | 11.21% | 11.42% | 29.06% | 6.5% | 19.17% |
| Operating Expenses | 544M | 516M | 511M | 466M | 426M | 463M | 447M | 444M | 403M | 456M | 422M | 411M | 389M | 405M | 387M | 381M | 356M | 388.3M | 386M | 377M |
| OpEx % of Revenue | 18.44% | 17.4% | 17.71% | 17.22% | 16.32% | 17.92% | 16.79% | 16.79% | 16.14% | 18.05% | 16.55% | 17.08% | 17.73% | 17.56% | 18.6% | 18.6% | 18.47% | 18.73% | 20.24% | 18.74% |
| Selling, General & Admin | 401M | 448M | 375M | 347M | 307M | 333M | 318M | 316M | 281M | 296M | 295M | 284M | 263M | 272M | 260M | 259M | 238M | 263.5M | 269M | 263M |
| SG&A % of Revenue | 13.59% | 15.11% | 12.99% | 12.82% | 11.76% | 12.89% | 11.94% | 11.95% | 11.25% | 11.72% | 11.57% | 11.8% | 11.99% | 11.8% | 12.49% | 12.65% | 12.35% | 12.71% | 14.11% | 13.07% |
| Research & Development | 56M | 68M | 59M | 50M | 46M | 51M | 50M | 57M | 48M | 61M | 53M | 53M | 51M | 60M | 54M | 50M | 45M | 52M | 43.8M | 42M |
| R&D % of Revenue | 1.9% | 2.29% | 2.04% | 1.85% | 1.76% | 1.97% | 1.88% | 2.16% | 1.92% | 2.41% | 2.08% | 2.2% | 2.32% | 2.6% | 2.59% | 2.44% | 2.34% | 2.51% | 2.3% | 2.09% |
| Other Operating Expenses | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 517M | 373M | 491M | 472M | 474M | 334M | 433M | 430M | 412M | 308M | 370M | 312M | 276M | 247M | 261M | 264M | 239M | 264.1M | 217M | 203M |
| Operating Margin % | 17.53% | 12.58% | 17.01% | 17.44% | 18.16% | 12.93% | 16.26% | 16.26% | 16.5% | 12.19% | 14.51% | 12.96% | 12.58% | 10.71% | 12.54% | 12.89% | 12.4% | 12.74% | 11.38% | 10.09% |
| Operating Income Growth % | 9.07% | 11.68% | 13.39% | 9.77% | 15.05% | 8.44% | 17.03% | 37.82% | 49.28% | 24.7% | 41.76% | 18.18% | 15.48% | -6.47% | 20.28% | 30.05% | 24.48% | 63.94% | 4.98% | 27.35% |
| EBITDA | 604M | 509M | 641M | 577M | 584M | 452M | 556M | 536M | 524M | 453M | 482M | 421M | 387M | 353M | 366M | 369M | 349M | 372.7M | 323M | 322M |
| EBITDA Margin % | 20.47% | 17.17% | 22.21% | 21.32% | 22.38% | 17.5% | 20.88% | 20.27% | 20.99% | 17.93% | 18.9% | 17.49% | 17.64% | 15.31% | 17.59% | 18.02% | 18.11% | 17.98% | 16.94% | 16% |
| EBITDA Growth % | 3.42% | 12.61% | 15.29% | 7.65% | 11.45% | -0.22% | 15.35% | 27.32% | 35.4% | 28.33% | 31.69% | 14.09% | 10.89% | -5.29% | 13.31% | 14.6% | 16.72% | 42.91% | 2.93% | 24.08% |
| D&A (Non-Cash Add-back) | 87M | 136M | 150M | 105M | 110M | 118M | 123M | 106M | 112M | 145M | 112M | 109M | 111M | 106M | 105M | 105M | 110M | 108.6M | 106M | 119M |
| EBIT | 494M | 373M | 490M | 496M | 472M | 337M | 430M | 434M | 410M | 335M | 380M | 314M | 281M | 261M | 265M | 271M | 243M | 277.1M | 217M | 214M |
| Net Interest Income | -71M | -68M | -65M | -46M | -46M | -53M | -52M | -49M | -47M | -55M | -60M | -55M | -48M | -51M | -48M | -44M | -43M | -42.3M | -42M | -45M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 71M | 68M | 65M | 46M | 46M | 53M | 52M | 49M | 47M | 55M | 60M | 55M | 48M | 51M | 48M | 44M | 43M | 42.3M | 42M | 45M |
| Other Income/Expense | -48M | -82M | -66M | -22M | -48M | -50M | -55M | -45M | -49M | -28M | -50M | -53M | -43M | -37M | -44M | -37M | -39M | -29.3M | -42M | -34M |
| Pretax Income | 469M | 291M | 425M | 450M | 426M | 284M | 378M | 385M | 363M | 280M | 320M | 259M | 233M | 210M | 217M | 227M | 200M | 234.8M | 175M | 169M |
| Pretax Margin % | 15.9% | 9.81% | 14.73% | 16.63% | 16.32% | 11% | 14.19% | 14.56% | 14.54% | 11.08% | 12.55% | 10.76% | 10.62% | 9.11% | 10.43% | 11.08% | 10.38% | 11.33% | 9.18% | 8.4% |
| Income Tax | 106M | 87M | 112M | 111M | 99M | 71M | 92M | 94M | 86M | 63M | 78M | 66M | 60M | 51M | 54M | 58M | 50M | 41.5M | 43M | 44M |
| Effective Tax Rate % | 22.6% | 29.9% | 26.35% | 24.67% | 23.24% | 25% | 24.34% | 24.42% | 23.69% | 22.5% | 24.38% | 25.48% | 25.75% | 24.29% | 24.88% | 25.55% | 25% | 17.67% | 24.57% | 26.04% |
| Net Income | 362M | 202M | 310M | 336M | 322M | 212M | 283M | 289M | 272M | 215M | 240M | 191M | 169M | 158M | 160M | 166M | 149M | 190.2M | 131M | 125M |
| Net Margin % | 12.27% | 6.81% | 10.74% | 12.42% | 12.34% | 8.21% | 10.63% | 10.93% | 10.89% | 8.51% | 9.41% | 7.94% | 7.7% | 6.85% | 7.69% | 8.11% | 7.73% | 9.18% | 6.87% | 6.21% |
| Net Income Growth % | 12.42% | -4.72% | 9.54% | 16.26% | 18.38% | -1.4% | 17.92% | 51.31% | 60.95% | 36.08% | 50% | 15.06% | 13.42% | -16.93% | 22.14% | 32.8% | 33.04% | 116.38% | 2.26% | 44.01% |
| Net Income (Continuing) | 363M | 204M | 313M | 339M | 327M | 213M | 286M | 291M | 277M | 217M | 242M | 193M | 173M | 159M | 163M | 169M | 150M | 193.3M | 132M | 125M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 48M | 48M | 47M | 44M | 46M | 42M | 41M | 43M | 42M | 37M | 41M | 39M | 49M | 45M | 44M | 42M | 39M | 38M | 34.6M | 33.4M |
| EPS (Diluted) | 2.12 | 1.18 | 1.81 | 1.96 | 1.88 | 1.23 | 1.63 | 1.64 | 1.53 | 1.20 | 1.34 | 1.06 | 0.94 | 0.87 | 0.88 | 0.91 | 0.81 | 1.02 | 0.69 | 0.66 |
| EPS Growth % | 12.77% | -4.06% | 11.04% | 19.51% | 22.88% | 2.5% | 21.64% | 54.72% | 62.77% | 37.93% | 52.27% | 16.48% | 16.05% | -14.71% | 27.54% | 37.88% | 37.29% | 121.74% | 2.99% | 43.48% |
| EPS (Basic) | 2.12 | 1.19 | 1.81 | 1.96 | 1.88 | 1.24 | 1.63 | 1.64 | 1.54 | 1.21 | 1.34 | 1.07 | 0.94 | 0.87 | 0.88 | 0.91 | 0.81 | 1.02 | 0.69 | 0.66 |
| Diluted Shares Outstanding | 170.7M | 171M | 171.2M | 171.2M | 171.3M | 172M | 174.1M | 176M | 177.2M | 178.8M | 179.2M | 179.4M | 180.6M | 182.35M | 181.9M | 182.4M | 185M | 186.5M | 188M | 188.9M |
| Basic Shares Outstanding | 170M | 170.3M | 170.5M | 170.6M | 170.5M | 171.2M | 173.4M | 175.4M | 176.5M | 178M | 178.6M | 178.9M | 179.9M | 181.75M | 181.3M | 181.9M | 184.5M | 186M | 187.6M | 188.6M |
| Dividend Payout Ratio | 14.64% | 21.29% | 13.87% | 13.1% | 13.35% | 16.04% | 12.37% | 12.11% | 13.24% | 14.42% | 12.5% | 16.23% | 18.34% | 17.72% | 17.5% | 16.27% | 18.79% | 12.15% | 17.56% | 18.4% |