Wabash National Corporation (WNC) 10-Year Financial Performance & Capital Metrics

WNC • • Industrial / General

IndustrialsAgricultural MachineryTransportation & Vehicle EquipmentCommercial Vehicles & Trailers

AboutWabash National Corporation designs, manufactures, and distributes engineered solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products. This segment also offers stainless steel and aluminum tank trailers for the dairy, food and beverage, oil, gas, and chemical end markets; dry bulk trailers; and fiberglass reinforced poly tank trailers. The Parts & Services segment provides aftermarket parts and services; aluminum and steel flatbed bodies, shelving for package delivery, partitions, roof racks, hitches, liftgates, and thermal solutions; and door repair and replacement, collision repair, and basic maintenance services. This segment also offers stainless steel storage tanks and silos, mixers, and processors for the dairy, food and beverage, pharmaceutical, chemical, craft brewing, and biotech end markets; and composite products, including truck bodies, overhead doors, and other industrial application products. The company offers its products under the Wabash, DuraPlate, DuraPlateHD, DuraPlate AeroSkirt, and AeroSkirt CX brands, as well as EcoNex brand. It distributes its products directly, as well as through its retail operations and independent dealers to truckload common carriers, leasing companies, private fleet carriers, less-than-truckload common carriers, and package carriers. The company was founded in 1985 and is headquartered in Lafayette, Indiana.Show more

Revenue $1.95B -23.3%
EBITDA -$299M -183.7%
Net Income -$284M -222.8%
EPS (Diluted) -6.40 -233.1%
Gross Margin 13.62% -30.7%
EBITDA Margin -15.37% -209.1%
Operating Margin -18.29% -248.7%
Net Margin -14.59% -260.1%
ROE -76.78% -257.4%
ROIC -40.86% -236.1%
Debt/Equity 2.28 +193.1%
Interest Coverage -17.95 -214.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.1%
✓Share count reduced 7.6% through buybacks
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗High debt to equity ratio of 2.3x
✗Weak 3Y average ROE of 1.0%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.44%

5Y-3.44%

3Y2.58%

TTM-22.95%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM211.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM211.9%

ROCE

10Y Avg10.53%

5Y Avg2.91%

3Y Avg6.47%

Latest-33.69%

Peer Comparison

Commercial Vehicles & Trailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
REVGREV Group, Inc.	3.35B	68.55	36.27	3.5%	4.51%	27.89%	5.68%	0.13
PCARPACCAR Inc	64.03B	121.92	15.43	-4.29%	9.65%	13.89%	4.52%	0.91
OSKOshkosh Corporation	9.7B	153.36	14.77	11.1%	6.45%	14.68%	2.77%	0.23
XOSXos, Inc.	25.39M	2.24	-0.33	25.69%	-66.13%	-111.23%		1.28
WNCWabash National Corporation	439.61M	10.85	-1.70	-23.25%	15.89%	61.98%	10.26%	2.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.03B	1.85B	1.77B	2.27B	2.32B	1.48B	1.8B	2.5B	2.54B	1.95B
Revenue Growth %	0.09%	-0.09%	-0.04%	0.28%	0.02%	-0.36%	0.22%	0.39%	0.01%	-0.23%
Cost of Goods Sold+	1.72B	1.52B	1.51B	1.98B	2.01B	1.32B	1.61B	2.18B	2.04B	1.68B
COGS % of Revenue	0.85%	0.82%	0.85%	0.87%	0.87%	0.89%	0.89%	0.87%	0.8%	0.86%
Gross Profit+	303.44M	325.53M	260.88M	283.65M	306.38M	159.75M	196.47M	322.69M	498.19M	265.07M
Gross Margin %	0.15%	0.18%	0.15%	0.13%	0.13%	0.11%	0.11%	0.13%	0.2%	0.14%
Gross Profit Growth %	0.3%	0.07%	-0.2%	0.09%	0.08%	-0.48%	0.23%	0.64%	0.54%	-0.47%
Operating Expenses+	123.07M	123M	120.45M	147.63M	163.6M	245.36M	162.93M	155.36M	186.24M	621.18M
OpEx % of Revenue	0.06%	0.07%	0.07%	0.07%	0.07%	0.17%	0.09%	0.06%	0.07%	0.32%
Selling, General & Admin	100.73M	101.4M	103.41M	128.16M	143.13M	117.82M	112.5M	140.15M	173.19M	608.72M
SG&A % of Revenue	0.05%	0.05%	0.06%	0.06%	0.06%	0.08%	0.06%	0.06%	0.07%	0.31%
Research & Development	4.8M	6.4M	3.9M	8.8M	19.5M	21.9M	13.6M	5.3M	0	0
R&D % of Revenue	0%	0%	0%	0%	0.01%	0.01%	0.01%	0%	-	-
Other Operating Expenses	2.49M	-1.45M	8.12M	13.78M	971K	105.64M	36.83M	9.91M	13.05M	12.46M
Operating Income+	180.37M	202.53M	130.82M	110.99M	142.79M	-85.61M	33.54M	166.64M	311.95M	-356.1M
Operating Margin %	0.09%	0.11%	0.07%	0.05%	0.06%	-0.06%	0.02%	0.07%	0.12%	-0.18%
Operating Income Growth %	0.47%	0.12%	-0.35%	-0.15%	0.29%	-1.6%	1.39%	3.97%	0.87%	-2.14%
EBITDA+	218.37M	239.3M	165.87M	151.67M	185.19M	-37.64M	82.38M	213.61M	357.27M	-299.12M
EBITDA Margin %	0.11%	0.13%	0.09%	0.07%	0.08%	-0.03%	0.05%	0.09%	0.14%	-0.15%
EBITDA Growth %	0.35%	0.1%	-0.31%	-0.09%	0.22%	-1.2%	3.19%	1.59%	0.67%	-1.84%
D&A (Non-Cash Add-back)	38M	36.77M	35.05M	40.68M	42.4M	47.97M	48.84M	46.97M	45.32M	56.98M
EBIT	182.86M	201.08M	138.94M	124.76M	142.79M	-85.02M	24.42M	167.28M	314.54M	-356.76M
Net Interest Income+	-19.55M	-15.66M	-16.4M	-28.76M	-27.34M	-24.19M	-23.13M	-20.52M	-19.85M	-19.84M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	19.55M	15.66M	16.4M	28.76M	27.34M	24.19M	23.13M	20.52M	19.85M	19.84M
Other Income/Expense	-17.06M	-17.11M	-8.28M	-14.98M	-25.05M	-23.61M	-32.25M	-20.21M	-17.26M	-20.49M
Pretax Income+	163.31M	185.42M	122.54M	96M	117.73M	-109.21M	1.29M	146.44M	294.69M	-376.6M
Pretax Margin %	0.08%	0.1%	0.07%	0.04%	0.05%	-0.07%	0%	0.06%	0.12%	-0.19%
Income Tax+	59.02M	65.98M	11.12M	26.58M	28.16M	-11.8M	126K	33.66M	62.83M	-93.52M
Effective Tax Rate %	0.64%	0.64%	0.91%	0.72%	0.76%	0.89%	0.9%	0.77%	0.78%	0.75%
Net Income+	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.26M	231.25M	-284.07M
Net Margin %	0.05%	0.06%	0.06%	0.03%	0.04%	-0.07%	0%	0.04%	0.09%	-0.15%
Net Income Growth %	0.71%	0.15%	-0.07%	-0.38%	0.29%	-2.09%	1.01%	95.44%	1.06%	-2.23%
Net Income (Continuing)	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.77M	231.85M	-283.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	512K	603K	996K
EPS (Diluted)+	1.50	1.82	1.78	1.19	1.62	-1.84	0.02	2.25	4.81	-6.40
EPS Growth %	0.76%	0.21%	-0.02%	-0.33%	0.36%	-2.14%	1.01%	98.56%	1.14%	-2.33%
EPS (Basic)	1.55	1.87	1.88	1.22	1.64	-1.84	0.02	2.31	4.92	-6.40
Diluted Shares Outstanding	69.37M	65.76M	62.6M	58.43M	55.29M	52.95M	51.61M	49.88M	48.03M	44.36M
Basic Shares Outstanding	67.2M	63.73M	59.36M	57M	54.7M	52.95M	50.68M	48.63M	47.01M	44.36M
Dividend Payout Ratio	-	-	0.14%	0.26%	0.2%	-	14.12%	0.14%	0.07%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	529.51M	481.4M	576.39M	549.42M	541.39M	545.76M	529.71M	592.62M	681.35M	594.49M
Cash & Short-Term Investments	178.85M	163.47M	191.52M	132.69M	140.52M	217.68M	71.78M	58.24M	179.27M	115.48M
Cash Only	178.85M	163.47M	191.52M	132.69M	140.52M	217.68M	71.78M	58.24M	179.27M	115.48M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	152.82M	153.63M	146.84M	181.06M	172.74M	119.37M	186.9M	257.94M	194.83M	154.22M
Days Sales Outstanding	27.51	30.39	30.33	29.15	27.19	29.4	37.83	37.63	28.04	28.91
Inventory	166.98M	139.95M	180.74M	184.4M	186.91M	163.75M	237.62M	243.87M	267.63M	258.82M
Days Inventory Outstanding	35.35	33.61	43.8	33.93	33.9	45.21	53.98	40.84	47.93	56.18
Other Current Assets	22.43M	24.35M	50.44M	47.95M	38.01M	44.96M	33.41M	28.62M	33.72M	3.26M
Total Non-Current Assets+	420.62M	417.33M	775.12M	754.97M	763.2M	634.17M	598.04M	610.9M	681.46M	817.04M
Property, Plant & Equipment	140.44M	134.14M	195.36M	206.99M	221.35M	220.52M	243.8M	271.12M	325.44M	339.25M
Fixed Asset Turnover	14.44x	13.76x	9.05x	10.95x	10.48x	6.72x	7.40x	9.23x	7.79x	5.74x
Goodwill	149.72M	148.37M	317.46M	311.08M	311.03M	199.56M	188.44M	188.43M	188.41M	188.44M
Intangible Assets	114.62M	94.41M	237.03M	210.33M	189.9M	172.99M	118.64M	99.23M	94.42M	74.44M
Long-Term Investments	0	0	-36.95M	-34.91M	-37.58M	0	0	-36.03M	1.65M	7.25M
Other Non-Current Assets	14.49M	20.07M	25.27M	26.57M	40.93M	22.64M	26.48M	60.4M	31.32M	112.78M
Total Assets+	950.13M	898.73M	1.35B	1.3B	1.3B	1.18B	1.13B	1.2B	1.36B	1.41B
Asset Turnover	2.13x	2.05x	1.31x	1.74x	1.78x	1.26x	1.60x	2.08x	1.86x	1.38x
Asset Growth %	0.02%	-0.05%	0.5%	-0.03%	0%	-0.1%	-0.04%	0.07%	0.13%	0.04%
Total Current Liabilities+	211.08M	166.61M	283.67M	271.68M	259.38M	235.75M	289.32M	347.47M	352.21M	308.41M
Accounts Payable	79.62M	71.34M	108.45M	153.11M	134.82M	104.42M	173.95M	189.14M	156.61M	146.74M
Days Payables Outstanding	16.86	17.13	26.28	28.17	24.45	28.83	39.51	31.68	28.04	31.85
Short-Term Debt	38.42M	2.96M	46.31M	2.18M	0	4.46M	3.57M	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	0	0	1000K	0	0
Other Current Liabilities	57.81M	65.03M	73.45M	75.36M	35.61M	105.91M	87.7M	29.22M	146.29M	149.89M
Current Ratio	2.51x	2.89x	2.03x	2.02x	2.09x	2.31x	1.83x	1.71x	1.93x	1.93x
Quick Ratio	1.72x	2.05x	1.39x	1.34x	1.37x	1.62x	1.01x	1.00x	1.17x	1.09x
Cash Conversion Cycle	46.01	46.86	47.84	34.91	36.63	45.78	52.29	46.79	47.92	53.24
Total Non-Current Liabilities+	299.24M	259.73M	561.78M	558.87M	524.23M	539.3M	512.88M	457.93M	460.51M	913.29M
Long-Term Debt	274.88M	233.47M	504.09M	503.02M	455.39M	447.98M	428.31M	395.82M	396.46M	397.14M
Capital Lease Obligations	1.88M	1.41M	1.01M	714K	10.42M	7M	7.87M	16.88M	23.17M	24.64M
Deferred Tax Liabilities	1.5M	499K	36.95M	34.91M	37.58M	65.24M	56.69M	27.76M	0	0
Other Non-Current Liabilities	20.52M	24.36M	19.72M	20.23M	20.84M	19.08M	20M	17.47M	40.87M	491.51M
Total Liabilities	510.31M	426.34M	845.45M	830.54M	783.6M	775.05M	802.21M	805.4M	812.72M	1.22B
Total Debt+	315.63M	237.84M	551.41M	505.91M	470.5M	459.44M	439.75M	418.82M	428.68M	433.56M
Net Debt	136.78M	74.37M	359.89M	373.22M	329.99M	241.76M	367.98M	360.58M	249.41M	318.08M
Debt / Equity	0.72x	0.50x	1.09x	1.07x	0.90x	1.13x	1.35x	1.05x	0.78x	2.28x
Debt / EBITDA	1.45x	0.99x	3.32x	3.34x	2.54x	-	5.34x	1.96x	1.20x	-
Net Debt / EBITDA	0.63x	0.31x	2.17x	2.46x	1.78x	-	4.47x	1.69x	0.70x	-
Interest Coverage	9.23x	12.93x	7.98x	3.86x	5.22x	-3.54x	1.45x	8.12x	15.71x	-17.95x
Total Equity+	439.81M	472.39M	506.06M	473.85M	520.99M	404.88M	325.54M	398.13M	550.1M	189.83M
Equity Growth %	0.13%	0.07%	0.07%	-0.06%	0.1%	-0.22%	-0.2%	0.22%	0.38%	-0.65%
Book Value per Share	6.34	7.18	8.08	8.11	9.42	7.65	6.31	7.98	11.45	4.28
Total Shareholders' Equity	439.81M	472.39M	506.06M	473.85M	520.99M	404.88M	325.54M	397.61M	549.5M	188.83M
Common Stock	715K	725K	737K	744K	750K	755K	759K	766K	774K	781K
Retained Earnings	-111.91M	3.59M	98.73M	150.24M	221.84M	107.23M	92.11M	188.24M	403.92M	105.63M
Treasury Stock	-90.41M	-169.96M	-244.45M	-302.83M	-336.54M	-355.44M	-422.17M	-456.45M	-532.66M	-603.57M
Accumulated OCI	-1.5M	-2.85M	-2.38M	-3.34M	-3.98M	7.63M	859K	-882K	-428K	-3.23M
Minority Interest	0	0	0	0	0	0	0	512K	603K	996K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	131.79M	178.75M	144.38M	112.47M	146.28M	124.13M	-7.47M	124.08M	319.61M	117.27M
Operating CF Margin %	0.07%	0.1%	0.08%	0.05%	0.06%	0.08%	-0%	0.05%	0.13%	0.06%
Operating CF Growth %	0.42%	0.36%	-0.19%	-0.22%	0.3%	-0.15%	-1.06%	17.61%	1.58%	-0.63%
Net Income	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.77M	231.25M	-284.07M
Depreciation & Amortization	38M	36.77M	35.05M	40.68M	42.36M	47.97M	48.84M	46.97M	45.32M	56.98M
Stock-Based Compensation	10.01M	12.04M	10.43M	10.17M	9.04M	4.51M	7.06M	9.75M	11.8M	0
Deferred Taxes	-7.75M	2.45M	-14.81M	-1.98M	3.42M	5.02M	-8.15M	-7.61M	-13.46M	-111.68M
Other Non-Cash Items	5.16M	7.05M	-13.52M	15.23M	705K	102.66M	38.16M	374K	824K	19.86M
Working Capital Changes	-17.91M	1.01M	15.81M	-21.05M	1.19M	61.39M	-94.54M	-38.16M	43.87M	436.18M
Change in Receivables	-17.62M	-809K	31.94M	-39.54M	8.33M	71.44M	-80.88M	-79.07M	72.59M	39.04M
Change in Inventory	10.16M	24.97M	-13.16M	-18.71M	-2.51M	21.1M	-74.8M	-6.25M	-23.77M	8.81M
Change in Payables	-12.24M	-13M	-963K	37.2M	0	0	54.86M	46.09M	5.78M	-68.69M
Cash from Investing+	-7.64M	-17.31M	-332.24M	-13.17M	-36.86M	-3.02M	-27.08M	-55.3M	-106.04M	-94.79M
Capital Expenditures	-20.85M	-20.34M	-26.06M	-34.01M	-37.65M	-20.13M	-49.1M	-57.09M	-98.09M	-79.14M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.03%	0.02%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13.2M	3.03M	17.3M	20.84M	785K	17.11M	0	1.78M	-3.05M	0
Cash from Financing+	-91.41M	-176.83M	215.91M	-158.13M	-101.6M	-43.96M	-111.35M	-82.31M	-92.54M	-86.27M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-15.31M	-17.77M	-17.8M	-17.32M	-16.43M	-16.02M	-15.86M	-14.78M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-575K	4.83M	-993K	485K	684K	482K	-7.07M	1.09M	-357K	-603K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	110.95M	158.41M	118.32M	78.46M	108.64M	104M	-56.58M	67M	221.51M	45.08M
FCF Margin %	0.05%	0.09%	0.07%	0.03%	0.05%	0.07%	-0.03%	0.03%	0.09%	0.02%
FCF Growth %	0.53%	0.43%	-0.25%	-0.34%	0.38%	-0.04%	-1.54%	2.18%	2.31%	-0.8%
FCF per Share	1.60	2.41	1.89	1.34	1.96	1.96	-1.10	1.34	4.61	1.02
FCF Conversion (FCF/Net Income)	1.26x	1.50x	1.30x	1.62x	1.63x	-1.27x	-6.42x	1.11x	1.38x	-0.41x
Interest Paid	14.58M	12.66M	9.48M	27.39M	26.23M	23.41M	22.04M	20.13M	0	0
Taxes Paid	66.28M	68.87M	41.39M	24.24M	20.38M	0	467K	18.33M	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	25.11%	26.19%	22.78%	14.17%	18.01%	-21.04%	0.32%	31.02%	48.78%	-76.78%
Return on Invested Capital (ROIC)	23.45%	27.04%	13.89%	9.72%	12.61%	-8.57%	3.75%	17.21%	30.03%	-40.86%
Gross Margin	14.97%	17.64%	14.76%	12.51%	13.21%	10.78%	10.9%	12.9%	19.64%	13.62%
Net Margin	5.14%	6.47%	6.31%	3.06%	3.86%	-6.57%	0.06%	4.49%	9.12%	-14.59%
Debt / Equity	0.72x	0.50x	1.09x	1.07x	0.90x	1.13x	1.35x	1.05x	0.78x	2.28x
Interest Coverage	9.23x	12.93x	7.98x	3.86x	5.22x	-3.54x	1.45x	8.12x	15.71x	-17.95x
FCF Conversion	1.26x	1.50x	1.30x	1.62x	1.63x	-1.27x	-6.42x	1.11x	1.38x	-0.41x
Revenue Growth	8.81%	-8.98%	-4.24%	28.3%	2.29%	-36.1%	21.69%	38.76%	1.37%	-23.25%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
New Trailers	-	-	-	1.64B	1.66B	1.09B	1.35B	2.01B	1.92B	1.33B
New Trailers Growth	-	-	-	-	1.48%	-34.57%	24.50%	48.62%	-4.67%	-30.59%
Equipment and Other	-	-	-	470.52M	513.49M	271.63M	314.45M	346.6M	464.47M	482.24M
Equipment and Other Growth	-	-	-	-	9.13%	-47.10%	15.76%	10.22%	34.01%	3.83%
Components, Parts and Services	-	-	-	145.25M	140.49M	114.05M	131.93M	139.76M	148.26M	128.56M
Components, Parts and Services Growth	-	-	-	-	-3.28%	-18.82%	15.68%	5.94%	6.08%	-13.28%
Used Trailers	-	-	-	13.13M	2.48M	8.39M	2.51M	2.9M	4.98M	4.01M
Used Trailers Growth	-	-	-	-	-81.12%	238.28%	-70.02%	15.55%	71.36%	-19.41%
Product One	1.69B	1.55B	1.41B	-	-	-	-	-	-	-
Product One Growth	-	-8.34%	-8.86%	-	-	-	-	-	-	-
Product Four	131.13M	124.38M	184.95M	-	-	-	-	-	-	-
Product Four Growth	-	-5.15%	48.70%	-	-	-	-	-	-	-
Product Three	168.55M	154.75M	154.53M	-	-	-	-	-	-	-
Product Three Growth	-	-8.18%	-0.15%	-	-	-	-	-	-	-
Product Two	35.58M	15.17M	14M	-	-	-	-	-	-	-
Product Two Growth	-	-57.35%	-7.75%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Wabash National Corporation (WNC) reported $1.64B in revenue for fiscal year 2024. This represents a 38% increase from $1.19B in 2011.

Wabash National Corporation (WNC) saw revenue decline by 23.3% over the past year.

Yes, Wabash National Corporation (WNC) is profitable, generating $260.3M in net income for fiscal year 2024 (-14.6% net margin).

Dividend & Returns

Yes, Wabash National Corporation (WNC) pays a dividend with a yield of 3.07%. This makes it attractive for income-focused investors.

Wabash National Corporation (WNC) has a return on equity (ROE) of -76.8%. Negative ROE indicates the company is unprofitable.

Wabash National Corporation (WNC) generated $108.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Wabash National Corporation (WNC) 10-Year Financial Performance & Capital Metrics

WNC • • Industrial / General

IndustrialsAgricultural MachineryTransportation & Vehicle EquipmentCommercial Vehicles & Trailers

Revenue $1.95B -23.3%
EBITDA -$299M -183.7%
Net Income -$284M -222.8%
EPS (Diluted) -6.40 -233.1%
Gross Margin 13.62% -30.7%
EBITDA Margin -15.37% -209.1%
Operating Margin -18.29% -248.7%
Net Margin -14.59% -260.1%
ROE -76.78% -257.4%
ROIC -40.86% -236.1%
Debt/Equity 2.28 +193.1%
Interest Coverage -17.95 -214.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.1%
✓Share count reduced 7.6% through buybacks
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗High debt to equity ratio of 2.3x
✗Weak 3Y average ROE of 1.0%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.44%

5Y-3.44%

3Y2.58%

TTM-22.95%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM211.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM211.9%

ROCE

10Y Avg10.53%

5Y Avg2.91%

3Y Avg6.47%

Latest-33.69%

Peer Comparison

Commercial Vehicles & Trailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
REVGREV Group, Inc.	3.35B	68.55	36.27	3.5%	4.51%	27.89%	5.68%	0.13
PCARPACCAR Inc	64.03B	121.92	15.43	-4.29%	9.65%	13.89%	4.52%	0.91
OSKOshkosh Corporation	9.7B	153.36	14.77	11.1%	6.45%	14.68%	2.77%	0.23
XOSXos, Inc.	25.39M	2.24	-0.33	25.69%	-66.13%	-111.23%		1.28
WNCWabash National Corporation	439.61M	10.85	-1.70	-23.25%	15.89%	61.98%	10.26%	2.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.03B	1.85B	1.77B	2.27B	2.32B	1.48B	1.8B	2.5B	2.54B	1.95B
Revenue Growth %	0.09%	-0.09%	-0.04%	0.28%	0.02%	-0.36%	0.22%	0.39%	0.01%	-0.23%
Cost of Goods Sold+	1.72B	1.52B	1.51B	1.98B	2.01B	1.32B	1.61B	2.18B	2.04B	1.68B
COGS % of Revenue	0.85%	0.82%	0.85%	0.87%	0.87%	0.89%	0.89%	0.87%	0.8%	0.86%
Gross Profit+	303.44M	325.53M	260.88M	283.65M	306.38M	159.75M	196.47M	322.69M	498.19M	265.07M
Gross Margin %	0.15%	0.18%	0.15%	0.13%	0.13%	0.11%	0.11%	0.13%	0.2%	0.14%
Gross Profit Growth %	0.3%	0.07%	-0.2%	0.09%	0.08%	-0.48%	0.23%	0.64%	0.54%	-0.47%
Operating Expenses+	123.07M	123M	120.45M	147.63M	163.6M	245.36M	162.93M	155.36M	186.24M	621.18M
OpEx % of Revenue	0.06%	0.07%	0.07%	0.07%	0.07%	0.17%	0.09%	0.06%	0.07%	0.32%
Selling, General & Admin	100.73M	101.4M	103.41M	128.16M	143.13M	117.82M	112.5M	140.15M	173.19M	608.72M
SG&A % of Revenue	0.05%	0.05%	0.06%	0.06%	0.06%	0.08%	0.06%	0.06%	0.07%	0.31%
Research & Development	4.8M	6.4M	3.9M	8.8M	19.5M	21.9M	13.6M	5.3M	0	0
R&D % of Revenue	0%	0%	0%	0%	0.01%	0.01%	0.01%	0%	-	-
Other Operating Expenses	2.49M	-1.45M	8.12M	13.78M	971K	105.64M	36.83M	9.91M	13.05M	12.46M
Operating Income+	180.37M	202.53M	130.82M	110.99M	142.79M	-85.61M	33.54M	166.64M	311.95M	-356.1M
Operating Margin %	0.09%	0.11%	0.07%	0.05%	0.06%	-0.06%	0.02%	0.07%	0.12%	-0.18%
Operating Income Growth %	0.47%	0.12%	-0.35%	-0.15%	0.29%	-1.6%	1.39%	3.97%	0.87%	-2.14%
EBITDA+	218.37M	239.3M	165.87M	151.67M	185.19M	-37.64M	82.38M	213.61M	357.27M	-299.12M
EBITDA Margin %	0.11%	0.13%	0.09%	0.07%	0.08%	-0.03%	0.05%	0.09%	0.14%	-0.15%
EBITDA Growth %	0.35%	0.1%	-0.31%	-0.09%	0.22%	-1.2%	3.19%	1.59%	0.67%	-1.84%
D&A (Non-Cash Add-back)	38M	36.77M	35.05M	40.68M	42.4M	47.97M	48.84M	46.97M	45.32M	56.98M
EBIT	182.86M	201.08M	138.94M	124.76M	142.79M	-85.02M	24.42M	167.28M	314.54M	-356.76M
Net Interest Income+	-19.55M	-15.66M	-16.4M	-28.76M	-27.34M	-24.19M	-23.13M	-20.52M	-19.85M	-19.84M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	19.55M	15.66M	16.4M	28.76M	27.34M	24.19M	23.13M	20.52M	19.85M	19.84M
Other Income/Expense	-17.06M	-17.11M	-8.28M	-14.98M	-25.05M	-23.61M	-32.25M	-20.21M	-17.26M	-20.49M
Pretax Income+	163.31M	185.42M	122.54M	96M	117.73M	-109.21M	1.29M	146.44M	294.69M	-376.6M
Pretax Margin %	0.08%	0.1%	0.07%	0.04%	0.05%	-0.07%	0%	0.06%	0.12%	-0.19%
Income Tax+	59.02M	65.98M	11.12M	26.58M	28.16M	-11.8M	126K	33.66M	62.83M	-93.52M
Effective Tax Rate %	0.64%	0.64%	0.91%	0.72%	0.76%	0.89%	0.9%	0.77%	0.78%	0.75%
Net Income+	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.26M	231.25M	-284.07M
Net Margin %	0.05%	0.06%	0.06%	0.03%	0.04%	-0.07%	0%	0.04%	0.09%	-0.15%
Net Income Growth %	0.71%	0.15%	-0.07%	-0.38%	0.29%	-2.09%	1.01%	95.44%	1.06%	-2.23%
Net Income (Continuing)	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.77M	231.85M	-283.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	512K	603K	996K
EPS (Diluted)+	1.50	1.82	1.78	1.19	1.62	-1.84	0.02	2.25	4.81	-6.40
EPS Growth %	0.76%	0.21%	-0.02%	-0.33%	0.36%	-2.14%	1.01%	98.56%	1.14%	-2.33%
EPS (Basic)	1.55	1.87	1.88	1.22	1.64	-1.84	0.02	2.31	4.92	-6.40
Diluted Shares Outstanding	69.37M	65.76M	62.6M	58.43M	55.29M	52.95M	51.61M	49.88M	48.03M	44.36M
Basic Shares Outstanding	67.2M	63.73M	59.36M	57M	54.7M	52.95M	50.68M	48.63M	47.01M	44.36M
Dividend Payout Ratio	-	-	0.14%	0.26%	0.2%	-	14.12%	0.14%	0.07%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	529.51M	481.4M	576.39M	549.42M	541.39M	545.76M	529.71M	592.62M	681.35M	594.49M
Cash & Short-Term Investments	178.85M	163.47M	191.52M	132.69M	140.52M	217.68M	71.78M	58.24M	179.27M	115.48M
Cash Only	178.85M	163.47M	191.52M	132.69M	140.52M	217.68M	71.78M	58.24M	179.27M	115.48M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	152.82M	153.63M	146.84M	181.06M	172.74M	119.37M	186.9M	257.94M	194.83M	154.22M
Days Sales Outstanding	27.51	30.39	30.33	29.15	27.19	29.4	37.83	37.63	28.04	28.91
Inventory	166.98M	139.95M	180.74M	184.4M	186.91M	163.75M	237.62M	243.87M	267.63M	258.82M
Days Inventory Outstanding	35.35	33.61	43.8	33.93	33.9	45.21	53.98	40.84	47.93	56.18
Other Current Assets	22.43M	24.35M	50.44M	47.95M	38.01M	44.96M	33.41M	28.62M	33.72M	3.26M
Total Non-Current Assets+	420.62M	417.33M	775.12M	754.97M	763.2M	634.17M	598.04M	610.9M	681.46M	817.04M
Property, Plant & Equipment	140.44M	134.14M	195.36M	206.99M	221.35M	220.52M	243.8M	271.12M	325.44M	339.25M
Fixed Asset Turnover	14.44x	13.76x	9.05x	10.95x	10.48x	6.72x	7.40x	9.23x	7.79x	5.74x
Goodwill	149.72M	148.37M	317.46M	311.08M	311.03M	199.56M	188.44M	188.43M	188.41M	188.44M
Intangible Assets	114.62M	94.41M	237.03M	210.33M	189.9M	172.99M	118.64M	99.23M	94.42M	74.44M
Long-Term Investments	0	0	-36.95M	-34.91M	-37.58M	0	0	-36.03M	1.65M	7.25M
Other Non-Current Assets	14.49M	20.07M	25.27M	26.57M	40.93M	22.64M	26.48M	60.4M	31.32M	112.78M
Total Assets+	950.13M	898.73M	1.35B	1.3B	1.3B	1.18B	1.13B	1.2B	1.36B	1.41B
Asset Turnover	2.13x	2.05x	1.31x	1.74x	1.78x	1.26x	1.60x	2.08x	1.86x	1.38x
Asset Growth %	0.02%	-0.05%	0.5%	-0.03%	0%	-0.1%	-0.04%	0.07%	0.13%	0.04%
Total Current Liabilities+	211.08M	166.61M	283.67M	271.68M	259.38M	235.75M	289.32M	347.47M	352.21M	308.41M
Accounts Payable	79.62M	71.34M	108.45M	153.11M	134.82M	104.42M	173.95M	189.14M	156.61M	146.74M
Days Payables Outstanding	16.86	17.13	26.28	28.17	24.45	28.83	39.51	31.68	28.04	31.85
Short-Term Debt	38.42M	2.96M	46.31M	2.18M	0	4.46M	3.57M	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	0	0	1000K	0	0
Other Current Liabilities	57.81M	65.03M	73.45M	75.36M	35.61M	105.91M	87.7M	29.22M	146.29M	149.89M
Current Ratio	2.51x	2.89x	2.03x	2.02x	2.09x	2.31x	1.83x	1.71x	1.93x	1.93x
Quick Ratio	1.72x	2.05x	1.39x	1.34x	1.37x	1.62x	1.01x	1.00x	1.17x	1.09x
Cash Conversion Cycle	46.01	46.86	47.84	34.91	36.63	45.78	52.29	46.79	47.92	53.24
Total Non-Current Liabilities+	299.24M	259.73M	561.78M	558.87M	524.23M	539.3M	512.88M	457.93M	460.51M	913.29M
Long-Term Debt	274.88M	233.47M	504.09M	503.02M	455.39M	447.98M	428.31M	395.82M	396.46M	397.14M
Capital Lease Obligations	1.88M	1.41M	1.01M	714K	10.42M	7M	7.87M	16.88M	23.17M	24.64M
Deferred Tax Liabilities	1.5M	499K	36.95M	34.91M	37.58M	65.24M	56.69M	27.76M	0	0
Other Non-Current Liabilities	20.52M	24.36M	19.72M	20.23M	20.84M	19.08M	20M	17.47M	40.87M	491.51M
Total Liabilities	510.31M	426.34M	845.45M	830.54M	783.6M	775.05M	802.21M	805.4M	812.72M	1.22B
Total Debt+	315.63M	237.84M	551.41M	505.91M	470.5M	459.44M	439.75M	418.82M	428.68M	433.56M
Net Debt	136.78M	74.37M	359.89M	373.22M	329.99M	241.76M	367.98M	360.58M	249.41M	318.08M
Debt / Equity	0.72x	0.50x	1.09x	1.07x	0.90x	1.13x	1.35x	1.05x	0.78x	2.28x
Debt / EBITDA	1.45x	0.99x	3.32x	3.34x	2.54x	-	5.34x	1.96x	1.20x	-
Net Debt / EBITDA	0.63x	0.31x	2.17x	2.46x	1.78x	-	4.47x	1.69x	0.70x	-
Interest Coverage	9.23x	12.93x	7.98x	3.86x	5.22x	-3.54x	1.45x	8.12x	15.71x	-17.95x
Total Equity+	439.81M	472.39M	506.06M	473.85M	520.99M	404.88M	325.54M	398.13M	550.1M	189.83M
Equity Growth %	0.13%	0.07%	0.07%	-0.06%	0.1%	-0.22%	-0.2%	0.22%	0.38%	-0.65%
Book Value per Share	6.34	7.18	8.08	8.11	9.42	7.65	6.31	7.98	11.45	4.28
Total Shareholders' Equity	439.81M	472.39M	506.06M	473.85M	520.99M	404.88M	325.54M	397.61M	549.5M	188.83M
Common Stock	715K	725K	737K	744K	750K	755K	759K	766K	774K	781K
Retained Earnings	-111.91M	3.59M	98.73M	150.24M	221.84M	107.23M	92.11M	188.24M	403.92M	105.63M
Treasury Stock	-90.41M	-169.96M	-244.45M	-302.83M	-336.54M	-355.44M	-422.17M	-456.45M	-532.66M	-603.57M
Accumulated OCI	-1.5M	-2.85M	-2.38M	-3.34M	-3.98M	7.63M	859K	-882K	-428K	-3.23M
Minority Interest	0	0	0	0	0	0	0	512K	603K	996K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	131.79M	178.75M	144.38M	112.47M	146.28M	124.13M	-7.47M	124.08M	319.61M	117.27M
Operating CF Margin %	0.07%	0.1%	0.08%	0.05%	0.06%	0.08%	-0%	0.05%	0.13%	0.06%
Operating CF Growth %	0.42%	0.36%	-0.19%	-0.22%	0.3%	-0.15%	-1.06%	17.61%	1.58%	-0.63%
Net Income	104.29M	119.43M	111.42M	69.42M	89.58M	-97.41M	1.16M	112.77M	231.25M	-284.07M
Depreciation & Amortization	38M	36.77M	35.05M	40.68M	42.36M	47.97M	48.84M	46.97M	45.32M	56.98M
Stock-Based Compensation	10.01M	12.04M	10.43M	10.17M	9.04M	4.51M	7.06M	9.75M	11.8M	0
Deferred Taxes	-7.75M	2.45M	-14.81M	-1.98M	3.42M	5.02M	-8.15M	-7.61M	-13.46M	-111.68M
Other Non-Cash Items	5.16M	7.05M	-13.52M	15.23M	705K	102.66M	38.16M	374K	824K	19.86M
Working Capital Changes	-17.91M	1.01M	15.81M	-21.05M	1.19M	61.39M	-94.54M	-38.16M	43.87M	436.18M
Change in Receivables	-17.62M	-809K	31.94M	-39.54M	8.33M	71.44M	-80.88M	-79.07M	72.59M	39.04M
Change in Inventory	10.16M	24.97M	-13.16M	-18.71M	-2.51M	21.1M	-74.8M	-6.25M	-23.77M	8.81M
Change in Payables	-12.24M	-13M	-963K	37.2M	0	0	54.86M	46.09M	5.78M	-68.69M
Cash from Investing+	-7.64M	-17.31M	-332.24M	-13.17M	-36.86M	-3.02M	-27.08M	-55.3M	-106.04M	-94.79M
Capital Expenditures	-20.85M	-20.34M	-26.06M	-34.01M	-37.65M	-20.13M	-49.1M	-57.09M	-98.09M	-79.14M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.03%	0.02%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13.2M	3.03M	17.3M	20.84M	785K	17.11M	0	1.78M	-3.05M	0
Cash from Financing+	-91.41M	-176.83M	215.91M	-158.13M	-101.6M	-43.96M	-111.35M	-82.31M	-92.54M	-86.27M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-15.31M	-17.77M	-17.8M	-17.32M	-16.43M	-16.02M	-15.86M	-14.78M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-575K	4.83M	-993K	485K	684K	482K	-7.07M	1.09M	-357K	-603K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	110.95M	158.41M	118.32M	78.46M	108.64M	104M	-56.58M	67M	221.51M	45.08M
FCF Margin %	0.05%	0.09%	0.07%	0.03%	0.05%	0.07%	-0.03%	0.03%	0.09%	0.02%
FCF Growth %	0.53%	0.43%	-0.25%	-0.34%	0.38%	-0.04%	-1.54%	2.18%	2.31%	-0.8%
FCF per Share	1.60	2.41	1.89	1.34	1.96	1.96	-1.10	1.34	4.61	1.02
FCF Conversion (FCF/Net Income)	1.26x	1.50x	1.30x	1.62x	1.63x	-1.27x	-6.42x	1.11x	1.38x	-0.41x
Interest Paid	14.58M	12.66M	9.48M	27.39M	26.23M	23.41M	22.04M	20.13M	0	0
Taxes Paid	66.28M	68.87M	41.39M	24.24M	20.38M	0	467K	18.33M	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	25.11%	26.19%	22.78%	14.17%	18.01%	-21.04%	0.32%	31.02%	48.78%	-76.78%
Return on Invested Capital (ROIC)	23.45%	27.04%	13.89%	9.72%	12.61%	-8.57%	3.75%	17.21%	30.03%	-40.86%
Gross Margin	14.97%	17.64%	14.76%	12.51%	13.21%	10.78%	10.9%	12.9%	19.64%	13.62%
Net Margin	5.14%	6.47%	6.31%	3.06%	3.86%	-6.57%	0.06%	4.49%	9.12%	-14.59%
Debt / Equity	0.72x	0.50x	1.09x	1.07x	0.90x	1.13x	1.35x	1.05x	0.78x	2.28x
Interest Coverage	9.23x	12.93x	7.98x	3.86x	5.22x	-3.54x	1.45x	8.12x	15.71x	-17.95x
FCF Conversion	1.26x	1.50x	1.30x	1.62x	1.63x	-1.27x	-6.42x	1.11x	1.38x	-0.41x
Revenue Growth	8.81%	-8.98%	-4.24%	28.3%	2.29%	-36.1%	21.69%	38.76%	1.37%	-23.25%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
New Trailers	-	-	-	1.64B	1.66B	1.09B	1.35B	2.01B	1.92B	1.33B
New Trailers Growth	-	-	-	-	1.48%	-34.57%	24.50%	48.62%	-4.67%	-30.59%
Equipment and Other	-	-	-	470.52M	513.49M	271.63M	314.45M	346.6M	464.47M	482.24M
Equipment and Other Growth	-	-	-	-	9.13%	-47.10%	15.76%	10.22%	34.01%	3.83%
Components, Parts and Services	-	-	-	145.25M	140.49M	114.05M	131.93M	139.76M	148.26M	128.56M
Components, Parts and Services Growth	-	-	-	-	-3.28%	-18.82%	15.68%	5.94%	6.08%	-13.28%
Used Trailers	-	-	-	13.13M	2.48M	8.39M	2.51M	2.9M	4.98M	4.01M
Used Trailers Growth	-	-	-	-	-81.12%	238.28%	-70.02%	15.55%	71.36%	-19.41%
Product One	1.69B	1.55B	1.41B	-	-	-	-	-	-	-
Product One Growth	-	-8.34%	-8.86%	-	-	-	-	-	-	-
Product Four	131.13M	124.38M	184.95M	-	-	-	-	-	-	-
Product Four Growth	-	-5.15%	48.70%	-	-	-	-	-	-	-
Product Three	168.55M	154.75M	154.53M	-	-	-	-	-	-	-
Product Three Growth	-	-8.18%	-0.15%	-	-	-	-	-	-	-
Product Two	35.58M	15.17M	14M	-	-	-	-	-	-	-
Product Two Growth	-	-57.35%	-7.75%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Wabash National Corporation (WNC) reported $1.64B in revenue for fiscal year 2024. This represents a 38% increase from $1.19B in 2011.

Wabash National Corporation (WNC) saw revenue decline by 23.3% over the past year.

Yes, Wabash National Corporation (WNC) is profitable, generating $260.3M in net income for fiscal year 2024 (-14.6% net margin).

Dividend & Returns

Yes, Wabash National Corporation (WNC) pays a dividend with a yield of 3.07%. This makes it attractive for income-focused investors.

Wabash National Corporation (WNC) has a return on equity (ROE) of -76.8%. Negative ROE indicates the company is unprofitable.

Wabash National Corporation (WNC) generated $108.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.