Freightcar America, Inc.
RAIL Industrials Railroads
Freightcar America, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $501.0 million, down 10.4% from fiscal 2024. In the quarter to June 2026, revenue fell 4.62%, EPS fell 361.1%, free cash flow grew 33.4% and total debt fell 32.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
Follow RAIL
Freightcar America, Inc. (RAIL) Altman Z-score
Freightcar America, Inc.'s Altman Z-score for fiscal 2025 is 2.07, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.07 | (0.38) |
| FY2024 | 2.45 | 1.36 |
| FY2023 | 1.09 | 0.00 |
| FY2022 | 1.09 | 0.38 |
| FY2021 | 0.71 | 1.41 |
| FY2020 | −0.70 | (1.30) |
| FY2019 | 0.60 | (1.62) |
| FY2018 | 2.21 | (2.19) |
| FY2017 | 4.40 | (0.06) |
| FY2016 | 4.47 | 0.13 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.26 | — | 0.31 | |
| Retained earnings / total assets | (0.63) | — | −0.88 | |
| EBIT / total assets | 0.12 | — | 0.39 | |
| Market value of equity / total liabilities | 0.89 | — | 0.53 | |
| Sales / total assets | 1.73 | — | 1.73 | |
| Altman Z-score | Grey zone | 2.07 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.13 | ||
Z and Z″ put Freightcar America, Inc. in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RVSN Rail Vision Ltd. compare | 136× |
| FSTR L.B. Foster Company compare | 3.9× |
| WAB Wabtec compare | 3.1× |
| NSC Norfolk Southern Corporation compare | 2.3× |
| CP Canadian Pacific Kansas City Limited compare | 2.1× |
| RAIL Freightcar America, Inc. | 2.1× |
| GBX Greenbrier Companies, Inc. (The) compare | 2.0× |
| TRN Trinity Industries, Inc. compare | 0.9× |
| SWVL Swvl Holdings Corp. compare | −21.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets