| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | 1 |
| total | individual payouts | |
|---|---|---|
| 2027 | ‡‡‡‡ |
|
| 2026 | 0.32 |
—
—
—
—
|
| 2025 | 0.32 |
—
—
—
—
|
| 2024 | 0.32 |
—
—
—
—
|
| 2023 | 0.32 |
—
—
—
—
|
| 2022 | 0.32 |
—
—
—
—
|
| 2021 | 0.32 |
—
—
—
—
|
| 2020 | 0.24 |
—
—
—
|
| 2019 | 0.40 |
—
—
—
—
—
|
| 2018 | 0.30 |
—
—
—
—
|
| 2017 | 0.24 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 179.27 | 115.48 | 31.92 | 71.50 |
| Receivables | 182.99 | 143.95 | 119.87 | 171.82 |
| Inventory | 267.64 | 258.83 | 181.15 | 192.26 |
| Other | — | — | — | — |
| 681.35 | 594.49 | 419.09 | 491.75 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 156.61 | 146.74 | 145.74 | 244.19 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 352.21 | 308.41 | 302.30 | 374.15 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 303.23 | 417.24 | — | — |
—
|
| ’25 | 380.89 | 458.82 | 381.60 | 321.45 |
1,542.75
|
| ’24 | 515.28 | 550.61 | 464.04 | 416.81 |
1,946.74
|
| ’23 | 620.95 | 686.62 | 632.83 | 596.10 |
2,536.50
|
| ’22 | 546.76 | 642.77 | 655.15 | 657.45 |
2,502.13
|
| ’21 | 392.00 | 449.42 | 482.57 | 479.28 |
1,803.27
|
| ’20 | 387.07 | 339.15 | 351.58 | 404.08 |
1,481.89
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (33.65) | 5.14 | — | — |
—
|
| ’25 | (0.27) | (15.83) | 85.21 | (57.43) |
11.67
|
| ’24 | (17.41) | 11.02 | 42.78 | 80.88 |
117.27
|
| ’23 | 69.48 | 76.85 | 58.27 | 115.01 |
319.61
|
| ’22 | (34.57) | 117.24 | (10.52) | 51.93 |
124.08
|
| ’21 | (22.40) | 9.32 | (61.14) | 66.76 |
(7.47)
|
| ’20 | (10.05) | 32.71 | 84.45 | 17.04 |
124.13
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (28.69) | 16.54 | — | — |
—
|
| ’25 | (8.93) | (22.06) | 80.02 | (61.94) |
(12.91)
|
| ’24 | (36.59) | (6.08) | 31.07 | 61.14 |
49.53
|
| ’23 | 38.06 | 52.45 | 29.02 | 102.14 |
221.67
|
| ’22 | (43.07) | 104.82 | (30.45) | 37.48 |
68.78
|
| ’21 | (26.37) | 23.20 | (69.28) | 37.91 |
(34.55)
|
| ’20 | (16.31) | 30.77 | 81.65 | 25.01 |
121.12
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (1.11) | (0.56) | — | — |
—
|
| ’25 | 5.36 | (0.23) | 0.97 | (1.23) |
5.07
|
| ’24 | 0.39 | 0.64 | (7.53) | (0.02) |
(6.40)
|
| ’23 | 1.04 | 1.54 | 1.16 | 1.07 |
4.81
|
| ’22 | 0.24 | 0.46 | 0.73 | 0.84 |
2.25
|
| ’21 | 0.06 | 0.24 | 0.22 | (0.51) |
0.02
|
| ’20 | (2.01) | 0.00 | 0.07 | 0.10 |
(1.84)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 12.23 | 20.09 | 15.94 | 6.78 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.21 | 30.10 | 30.07 | 17.55 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,900 | 6,700 | 6,000 | 4,700 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.36 | 0.38 | 0.32 | 0.33 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,502.13 | 2,536.50 | 1,946.74 | 1,542.75 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.90% | 19.64% | 13.62% | 4.53% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 146.44 | 294.69 | (376.60) | 283.16 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.85% | 11.62% | (19.35%) | 18.35% | ‡‡‡ | ‡‡‡ | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 112.77 | 231.86 | (283.07) | 211.64 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 46.97 | 45.32 | 56.99 | 58.74 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 51.46 | 53.96 | 43.89 | 37.16 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 2.31 | 4.92 | (6.40) | 5.09 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.55 | 6.80 | 2.64 | 0.28 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.14) | (2.08) | (1.53) | (0.59) | ‡‡‡ | ‡‡‡ | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.41 | 4.72 | 1.12 | (0.31) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.18 | 11.69 | 4.28 | 8.88 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 48.63 | 47.01 | 44.36 | 41.51 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 9.97 | 5.15 | 0.00 | 1.75 | ‡‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.45 | 0.47 | 0.39 | 0.23 | ‡‡‡ | ‡‡‡ | — |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.83 | 2.17 | 4.00 | 0.98 | ‡‡‡ | ‡‡‡ | — |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.59 | 0.56 | 0.54 | 0.50 | ‡‡‡‡ | ‡‡‡‡ | — |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.35 | 6.39 | 21.19 | (60.28) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 124.08 | 319.61 | 117.27 | 11.67 | ‡‡‡ | ‡‡‡ | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (55.30) | (97.94) | (67.74) | (24.57) | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 68.78 | 221.67 | 49.53 | (12.91) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 245.15 | 329.14 | 286.08 | 116.79 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 401.82 | 396.47 | 397.14 | 442.85 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 343.57 | 217.19 | 281.66 | 410.93 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 397.61 | 549.50 | 189.83 | 368.54 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.72% | 18.02% | (20.48%) | 16.37% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.05% | 25.43% | (47.21%) | 24.66% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.05% | 48.83% | (76.85%) | 75.74% | — | — | — |
ROE
|
Wabash National Corporation (WNC), a leading trailer manufacturer, exemplifies the trucking industry’s boom-bust cycles, with revenue surging 28% to $2.54 billion in 2023 amid post-COVID demand before plunging 23% to $1.95 billion in 2024 and further declines through 2026, setting up a projected 25% rebound in 2027. The 2021 acquisition of Supreme Industries diversified its portfolio but couldn’t shield it from softening freight rates, excess inventory, and high interest rates, leading to sharp drops in revenue per share and employee productivity.
Profitability flipped dramatically from 11.6% EBT margins and $232 million net income in 2023 to a $283 million loss and -19.4% margins in 2024, with ROE cratering from 48.8% to -77%; cash flow per share peaked at $6.80 before tumbling 83%, though a resilient balance sheet—steady $400 million debt and robust working capital—offers stability. Valuation metrics scream value, with PS ratios at historical lows of 0.39 and EV/sales at 0.54, trading near multi-year lows despite analysts’ 22% mean upside (up to 52% high target).
Is WNC a beaten-down cyclical bargain poised for recovery with lower rates and infrastructure tailwinds, or a freight recession trap? Stock prices have mirrored these swings closely, rewarding patient investors in past upcycles with 50-100% gains—track upcoming earnings for the next turn.
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