Wabash National Corporation (WNC) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Agricultural - Machinery
EV/EBITDA
↓
1.89
↓-75% vs avg
5yr avg: 7.46
30Y Low2.0·High65.7
P/FCF
↑
N/A
—
5yr avg: 13.08
30Y Low2.2·High35.2
P/B Ratio
↓
0.86
↓-67% vs avg
5yr avg: 2.63
30Y Low0.5·High34.1
ROE
↑
75.7%
↓+379% vs avg
5yr avg: 15.8%
30Y Low-155%·High76%
Debt/EBITDA
↓
1.17
↓-52% vs avg
5yr avg: 2.42
30Y Low1.0·High44.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Wabash National Corporation trades at 1.5x earnings, 99% below its 5-year average of 220.2x, sitting at the 0th percentile of its historical range. Compared to the Industrials sector median P/E of 25.7x, the stock trades at a discount of 94%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $308M | $361M | $760M | $1.2B | $1.1B | $1.0B | $912M | $812M | $764M | $1.4B | $1.0B |
| Enterprise Value | $719M | $772M | $1.1B | $1.5B | $1.5B | $1.4B | $1.2B | $1.1B | $1.1B | $1.7B | $1.1B |
| P/E Ratio → | 1.50 | 1.71 | — | 5.33 | 10.04 | 863.72 | — | 9.07 | 10.99 | 12.19 | 8.69 |
| P/S Ratio | 0.20 | 0.23 | 0.39 | 0.49 | 0.45 | 0.56 | 0.62 | 0.35 | 0.34 | 0.77 | 0.56 |
| P/B Ratio | 0.86 | 0.98 | 4.00 | 2.24 | 2.83 | 3.09 | 2.25 | 1.56 | 1.61 | 2.68 | 2.20 |
| P/FCF | — | — | 16.85 | 5.56 | 16.83 | — | 8.77 | 7.48 | 9.74 | 11.48 | 6.57 |
| P/OCF | 26.43 | 30.95 | 6.48 | 3.85 | 9.09 | — | 7.35 | 5.55 | 6.80 | 9.41 | 5.82 |
P/E links to full P/E history page with 30-year chart
WNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Wabash National Corporation's enterprise value stands at 1.9x EBITDA, 75% below its 5-year average of 7.5x. The Industrials sector median is 13.7x, placing the stock at a 86% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.50 | 0.55 | 0.58 | 0.59 | 0.76 | 0.78 | 0.49 | 0.50 | 0.97 | 0.60 |
| EV / EBITDA | 1.89 | 2.03 | — | 4.14 | 6.97 | 16.69 | — | 6.17 | 7.50 | 10.36 | 4.66 |
| EV / EBIT | 2.24 | 2.54 | — | 4.71 | 8.89 | 56.33 | — | 8.00 | 9.12 | 12.37 | 5.54 |
| EV / FCF | — | — | 23.91 | 6.68 | 22.21 | — | 11.10 | 10.51 | 14.50 | 14.52 | 7.04 |
WNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Wabash National Corporation earns an operating margin of 20.8%, significantly above the Industrials sector average of 4.7%. Operating margins have expanded from 12.3% to 20.8% over the past 3 years, signaling improving operational efficiency. Return on equity of 75.7% is exceptionally high — well above the sector median of 8.2%. ROIC of 37.4% represents excellent returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.8% | 3.8% | 13.6% | 19.6% | 12.9% | 10.9% | 10.8% | 13.2% | 12.5% | 14.8% | 17.6% |
| Operating Margin | 20.8% | 20.8% | -18.3% | 12.3% | 6.7% | 1.9% | -5.8% | 6.2% | 4.9% | 7.4% | 11.0% |
| Net Profit Margin | 13.7% | 13.7% | -14.6% | 9.1% | 4.5% | 0.1% | -6.6% | 3.9% | 3.1% | 6.3% | 6.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 75.7% | 75.7% | -76.8% | 48.8% | 31.0% | 0.3% | -21.0% | 18.0% | 14.2% | 22.8% | 26.2% |
| ROA | 16.4% | 16.4% | -20.5% | 18.0% | 9.6% | 0.1% | -7.8% | 6.9% | 5.2% | 9.9% | 12.9% |
| ROIC | 37.4% | 37.4% | -40.9% | 30.0% | 17.2% | 3.8% | -8.6% | 12.6% | 9.7% | 13.9% | 27.0% |
| ROCE | 32.6% | 32.6% | -33.7% | 33.4% | 19.7% | 3.8% | -8.6% | 13.7% | 10.6% | 14.5% | 27.5% |
WNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Wabash National Corporation carries a Debt/EBITDA ratio of 1.2x, which is manageable (62% below the sector average of 3.1x). Net debt stands at $411M ($443M total debt minus $32M cash). Interest coverage of 14.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.20 | 1.20 | 2.28 | 0.78 | 1.05 | 1.35 | 1.13 | 0.90 | 1.07 | 1.09 | 0.50 |
| Debt / EBITDA | 1.17 | 1.17 | — | 1.20 | 1.96 | 5.34 | — | 2.54 | 3.34 | 3.32 | 0.99 |
| Net Debt / Equity | — | 1.12 | 1.68 | 0.45 | 0.91 | 1.13 | 0.60 | 0.63 | 0.79 | 0.71 | 0.16 |
| Net Debt / EBITDA | 1.08 | 1.08 | — | 0.70 | 1.69 | 4.47 | — | 1.78 | 2.46 | 2.17 | 0.31 |
| Debt / FCF | — | — | 7.06 | 1.13 | 5.38 | — | 2.32 | 3.04 | 4.76 | 3.04 | 0.47 |
| Interest Coverage | 14.28 | 14.28 | -17.98 | 15.84 | 8.15 | 1.06 | -3.51 | 5.22 | 4.34 | 8.47 | 12.84 |
WNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.39x means Wabash National Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.79x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.93x to 1.39x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.39 | 1.39 | 1.93 | 1.93 | 1.71 | 1.83 | 2.31 | 2.09 | 2.02 | 2.03 | 2.89 |
| Quick Ratio | 0.79 | 0.79 | 1.09 | 1.17 | 1.00 | 1.01 | 1.62 | 1.37 | 1.34 | 1.39 | 2.05 |
| Cash Ratio | 0.11 | 0.11 | 0.37 | 0.51 | 0.17 | 0.25 | 0.92 | 0.54 | 0.49 | 0.68 | 0.98 |
| Asset Turnover | — | 1.32 | 1.38 | 1.86 | 2.08 | 1.60 | 1.26 | 1.78 | 1.74 | 1.31 | 2.05 |
| Inventory Turnover | 8.19 | 8.19 | 6.50 | 7.62 | 8.94 | 6.76 | 8.07 | 10.77 | 10.76 | 8.33 | 10.86 |
| Days Sales Outstanding | — | 28.36 | 28.91 | 28.04 | 37.63 | 37.83 | 29.40 | 27.19 | 29.15 | 30.33 | 30.39 |
WNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Wabash National Corporation returns 15.3% to shareholders annually — split between a 4.4% dividend yield and 11.0% buyback yield. The payout ratio of 6.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 66.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.4% | 3.8% | 1.9% | 1.3% | 1.4% | 1.6% | 1.9% | 2.2% | 2.3% | 1.1% | — |
| Payout Ratio | 6.5% | 6.5% | — | 6.9% | 14.3% | 1411.9% | — | 19.9% | 25.6% | 13.7% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 66.9% | 58.6% | — | 18.8% | 10.0% | 0.1% | — | 11.0% | 9.1% | 8.2% | 11.5% |
| FCF Yield | — | — | 5.9% | 18.0% | 5.9% | — | 11.4% | 13.4% | 10.3% | 8.7% | 15.2% |
| Buyback Yield | 11.0% | 9.4% | 9.3% | 6.2% | 3.0% | 6.6% | 2.1% | 4.2% | 7.6% | 5.5% | 7.6% |
| Total Shareholder Yield | 15.3% | 13.2% | 11.3% | 7.5% | 4.5% | 8.3% | 4.0% | 6.3% | 10.0% | 6.6% | 7.6% |
| Shares Outstanding | — | $42M | $44M | $48M | $50M | $52M | $53M | $55M | $58M | $63M | $66M |
Peer Comparison
Compare WNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WNCYou | $308M | 1.5 | 1.9 | — | 3.8% | 20.8% | 75.7% | 37.4% | 1.2 |
 WLFC | $2B | 14.9 | 13.5 | — | 65.7% | 32.3% | 17.8% | 5.3% | 8.2 |
 GNSS | $89M | -4.9 | — | — | 41.6% | -41.2% | -183.6% | -56.7% | — |
 THR | $2B | 44.4 | 23.5 | 43.3 | 44.7% | 16.0% | 11.0% | 9.8% | 1.5 |
 ELME | $192M | -1.2 | — | 3.1 | — | — | -23.3% | -15.3% | — |
 HYLN | $434M | -7.0 | — | — | 4.9% | -1886.4% | -26.2% | -23.7% | — |
 PCAR | $60B | 25.1 | 13.3 | 19.7 | 16.2% | 10.4% | 12.9% | 12.2% | — |
 CMC | $8B | 94.3 | 10.0 | 24.8 | 15.6% | 6.7% | 2.0% | 8.5% | 1.7 |
 ATRO | $3B | 91.1 | 32.6 | 65.8 | 29.9% | 8.9% | 14.8% | 12.2% | 3.9 |
 ARCB | $3B | 45.1 | 12.3 | 23.1 | 2.3% | 2.3% | 4.6% | 3.9% | 2.6 |
 NUE | $53B | 30.9 | 13.9 | — | 11.9% | 8.2% | 8.0% | 7.7% | 1.7 |
| Industrials Median | — | 25.7 | 13.7 | 21.2 | 33.0% | 4.7% | 8.2% | 6.3% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonWNC — Frequently Asked Questions
Quick answers to the most common questions about buying WNC stock.
What is Wabash National Corporation's P/E ratio?
Wabash National Corporation's current P/E ratio is 1.5x. The historical average is 19.6x.
What is Wabash National Corporation's EV/EBITDA?
Wabash National Corporation's current EV/EBITDA is 1.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
What is Wabash National Corporation's ROE?
Wabash National Corporation's return on equity (ROE) is 75.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -5.7%.
Is WNC stock overvalued?
Based on historical data, Wabash National Corporation is trading at a P/E of 1.5x. Compare with industry peers and growth rates for a complete picture.
What is Wabash National Corporation's dividend yield?
Wabash National Corporation's current dividend yield is 4.36% with a payout ratio of 6.5%.
What are Wabash National Corporation's profit margins?
Wabash National Corporation has 3.8% gross margin and 20.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Wabash National Corporation have?
Wabash National Corporation's Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.