Reading the tape
NYSE: WAB
Westinghouse Air Brake Technologies Corporation
Industrials · Railroads
Market Cap
$45.08B
52w High
$275.84
52w Low
$184.26
P/E
37.33
Volume
503.44K
Outstanding Shares
169.68M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inHigh confidence
1Y Price: 38.57%Revenue (TTM): 9.59%FCF (TTM): 11.69%P/FCF: 78th pct
What changed
The stock rose 38.57% over the last year. Revenue grew 9.59% over the trailing twelve months. Operating margin moved from 15.91% to 16.1%. Free cash flow grew 11.69% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (78th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 16.1% — continued expansion would be needed to justify the premium. Revenue growth of 9.59% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Westinghouse Air Brake Technologies Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit industries worldwide.
CEORafael Ottoni Santana
SectorIndustrials
IndustryRailroads
Employees29,500
IPO dateJun 16, 1995
Valuation
Forward P/E—
EV/EBITDA17.36
Enterprise value$41.15B
Stock splits
Jun 12, 2013↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth13.03%
Gross margin33.81%▼2.87%vs FY2024
Operating margin16.1%▲8.05%vs FY2024
ROE10.5%▲0.34%vs FY2024
Analyst consensus
RatingBuy
Target price$291.00▲9.52%
21
Buy
12
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 23, 2026
Q3 FY26 · EPS est $2.63 · Revenue est $3.07B
View
Dividends
$1.06/shareQuarterlyDividend Aristocrat · 29yrSafeWAB pays a dividend with a 0.4% dividend yield, 29 consecutive years of growth, growing at 17.17% annually, covered 8.7× by free cash flow.
Dividend Yield
0.4%
Annual Div / Share
$1.06
5yr CAGR
+17.17%
Doubles every ~4.4yr
Payout Ratio
15.12%
Safe
Dividend Growth Rate
3yr CAGR
+19.57%
5yr CAGR
+17.17%
10yr CAGR
+13.45%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$1.06+24.7%
2024$0.85+19.7%
2023$0.71+14.5%
2022$0.62+21.6%
2021$0.51+6.3%
2020$0.48+0.0%
2019$0.48+0.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$4/yr
$0/mo
In 5 yrs
$7/yr+76%
$1/mo
In 10 yrs
$12/yr+211%
$1/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$4/yr $0/mo | $7/yr+76% $1/mo | $12/yr+211% $1/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 0.4% → 1.24% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
WAB has raised its dividend for 29 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 8.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 17.17% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.
Congressional Activity
Congress Trades in WAB
STOCK Act disclosures from senators and representatives.
Rick Larsen
WAhouseDemocratPurchase2026-04-07$1,001 - $15,000+9d to disclose