Sunday 11 October 2026
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Wabash National Corporation
WNC Industrials Farm & Heavy Construction Machinery
Wabash National Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 20.8% from fiscal 2024. In the quarter to June 2026, revenue fell 9.06%, EPS fell 143.5%, free cash flow grew 175.0% and total debt rose 17.3%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
13.20
0.21
−1.57%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
8.72 | 11.69 | 10.81 | 8.96 | 0.00 | 1,952.00 | 9.97 | 5.15 | 0.00 | 1.75 |
Piotroski F-Score |
8 | 4 | 6 | 9 | 4 | 5 | 8 | 8 | 4 | 4 |
P/S ratio |
0.56 | 0.74 | 0.33 | 0.35 | 0.62 | 0.55 | 0.45 | 0.47 | 0.39 | 0.23 |
Altman Z-Score |
4.64 | 2.90 | 2.97 | 3.25 | 2.21 | 2.87 | 3.82 | 4.21 | 1.27 | 2.93 |
Altman Z″-Score (non-manufacturers) |
4.99 | 2.94 | 2.94 | 3.41 | 2.12 | 2.34 | 3.29 | 4.80 | 0.04 | 3.75 |
P/FCF ratio |
6.52 | 10.10 | 7.75 | 7.34 | 7.53 | 0.00 | 16.35 | 5.37 | 15.34 | 0.00 |
Beneish M-Score |
(2.80) | (2.44) | (2.37) | (2.69) | (3.80) | (1.89) | (2.20) | (3.23) | (4.24) | (0.54) |
P/Operating CF |
14.19 | 15.67 | 13.36 | 11.47 | 53.55 | 14.82 | 21.66 | 10.36 | 9.39 | (6.25) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 57 |
P/B ratio |
2.19 | 2.58 | 1.57 | 1.54 | 2.25 | 3.04 | 2.83 | 2.17 | 4.00 | 0.98 |
Price to Tangible BV |
4.50 | 0.00 | 0.00 | 40.05 | 23.74 | 43.67 | 10.23 | 4.34 | 0.00 | 3.19 |
EV/Sales |
0.60 | 0.94 | 0.49 | 0.49 | 0.77 | 0.75 | 0.59 | 0.56 | 0.54 | 0.50 |
EV/EBITDA |
4.59 | 10.03 | 6.33 | 6.12 | 0.00 | 16.36 | 6.85 | 3.95 | 0.00 | 2.11 |
EV/Operating CF |
6.19 | 11.53 | 9.94 | 7.75 | 9.22 | (180.37) | 11.80 | 4.41 | 8.89 | 66.13 |
EV/FCF |
6.99 | 12.88 | 11.62 | 10.36 | 9.45 | (39.00) | 21.28 | 6.36 | 21.06 | (59.77) |
Quick Ratio |
1.90 | 1.19 | 1.15 | 1.21 | 1.35 | 0.86 | 0.90 | 1.03 | 0.84 | 0.50 |
Current Ratio |
2.89 | 2.03 | 2.02 | 2.09 | 2.32 | 1.83 | 1.71 | 1.93 | 1.93 | 1.39 |
Net Debt/EBITDA |
0.31 | 2.17 | 2.11 | 1.70 | (6.12) | 4.33 | 1.58 | 0.61 | (0.94) | 1.12 |
Debt/Assets |
26.41% | 40.78% | 38.76% | 34.94% | 38.57% | 38.69% | 32.89% | 29.09% | 28.14% | 37.81% |
Debt/Equity |
0.50 | 1.09 | 1.07 | 0.87 | 1.11 | 1.32 | 1.00 | 0.72 | 2.09 | 1.20 |
Asset Turnover |
2.00 | 1.57 | 1.71 | 1.78 | 1.20 | 1.59 | 2.17 | 1.98 | 1.40 | 1.19 |
Operating CF/Net income |
1.50 | 1.30 | 1.62 | 1.63 | (1.27) | (6.42) | 1.11 | 1.38 | (0.41) | 0.06 |
Capex/Depreciation |
(0.53) | (0.43) | (0.25) | (0.87) | (0.06) | (0.55) | (1.18) | (2.16) | (1.19) | (0.42) |
Interest Coverage |
12.93 | 7.98 | 3.86 | 5.22 | (3.54) | 1.45 | 8.12 | 15.71 | (17.95) | 14.43 |
| 26.19% | 22.78% | 14.17% | 18.01% | (21.04%) | 0.32% | 31.05% | 48.83% | (76.85%) | 75.74% | |
| 12.92% | 9.90% | 5.23% | 6.87% | (7.90%) | 0.10% | 9.72% | 18.02% | (20.48%) | 16.37% | |
ROIC |
23.17% | 9.44% | 8.19% | 10.67% | (8.42%) | 3.07% | 14.17% | 25.43% | (47.21%) | 24.66% |
Return on Tangible Assets |
26.60% | 22.83% | 14.32% | 17.80% | (18.74%) | 0.25% | 21.74% | 35.33% | (45.43%) | 50.68% |
Average Days of Receivables |
30.39 | 30.33 | 29.15 | 27.19 | 24.95 | 35.73 | 37.28 | 26.33 | 26.99 | 28.36 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
5.49% | 5.85% | 5.65% | 6.17% | 7.95% | 6.24% | 5.60% | 6.83% | 31.27% | (17.00%) |
Intangible Assets out of Total Assets |
0.27 | 0.41 | 0.40 | 0.38 | 0.32 | 0.27 | 0.24 | 0.20 | 0.19 | 0.22 |
Share Based Compensation of Revenue |
0.65% | 0.59% | 0.45% | 0.39% | 0.30% | 0.39% | 0.39% | 0.47% | 0.58% | 0.74% |
Graham Net Nets |
0.05 | (0.21) | (0.38) | (0.30) | (0.23) | (0.25) | (0.19) | (0.11) | (0.83) | (1.07) |
Graham Number |
17.61 | 18.99 | 15.04 | 18.75 | 0.00 | 1.20 | 20.66 | 35.97 | 0.00 | 31.33 |
Earnings Yield |
11.47% | 8.55% | 9.25% | 11.16% | (10.70%) | 0.05% | 10.03% | 19.42% | (37.95%) | 56.99% |
Free Cash Flow Yield |
15.34% | 9.90% | 12.91% | 13.62% | 13.28% | (3.49%) | 6.12% | 18.61% | 6.52% | (3.59%) |
Revenue per Share |
28.96 | 29.77 | 39.78 | 42.40 | 27.99 | 35.58 | 51.46 | 53.96 | 43.89 | 37.16 |
Operating CF per Share |
2.80 | 2.43 | 1.97 | 2.67 | 2.34 | (0.15) | 2.55 | 6.80 | 2.64 | 0.28 |
Capex per Share |
(0.32) | (0.26) | (0.28) | (0.67) | (0.06) | (0.53) | (1.14) | (2.08) | (1.53) | (0.59) |
Free Cash Flow per Share |
2.49 | 2.18 | 1.69 | 2.00 | 2.29 | (0.68) | 1.41 | 4.72 | 1.12 | (0.31) |
Cash per Share |
2.57 | 3.23 | 2.33 | 2.57 | 4.11 | 1.42 | 1.20 | 3.81 | 2.60 | 0.77 |
Shareholders Equity per Share |
7.41 | 8.53 | 8.31 | 9.53 | 7.65 | 6.42 | 8.18 | 11.69 | 4.28 | 8.88 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
7.41 | 8.53 | 8.31 | 9.53 | 7.65 | 6.42 | 8.18 | 11.69 | 4.28 | 8.88 |
Free Cash Flow |
158.43 | 129.18 | 96.24 | 109.42 | 121.12 | (34.55) | 68.78 | 221.67 | 49.53 | (12.91) |
Working Capital |
314.79 | 292.72 | 277.74 | 282.01 | 310.01 | 240.38 | 245.15 | 329.14 | 286.08 | 116.79 |
Capital Expenditures |
(20.32) | (15.20) | (16.23) | (36.86) | (3.02) | (27.08) | (55.30) | (97.94) | (67.74) | (24.57) |
Net Current Asset Value |
55.06 | (269.06) | (281.12) | (242.21) | (210.83) | (251.83) | (213.29) | (131.96) | (627.21) | (383.55) |
EV/EBIT |
5.47 | 12.72 | 10.08 | 7.94 | 0.00 | 40.17 | 8.78 | 4.52 | 0.00 | 2.51 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.02 | 0.00 | 0.02 | 0.02 | 0.04 | 0.03 | 0.02 |
Price to Operating Income |
5.10 | 9.97 | 6.72 | 5.63 | 0.00 | 29.50 | 6.75 | 3.82 | 0.00 | 1.17 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.29 | 0.18 | 0.32 | 0.19 | 0.23 | 0.21 | 0.17 | 0.14 | 0.17 | 0.20 |
Cash ROIC |
18.14% | 10.35% | 8.65% | 9.79% | 11.31% | (4.18%) | 8.08% | 19.70% | 7.05% | (1.53%) |
Accounts Receivable Turnover |
12.04 | 11.76 | 13.83 | 13.11 | 10.82 | 12.98 | 11.58 | 11.57 | 11.91 | 11.70 |
Accounts Payable Turnover |
20.14 | 16.76 | 15.17 | 13.98 | 11.05 | 11.54 | 12.00 | 11.79 | 11.09 | 10.07 |
Inventory Turnover |
9.90 | 9.39 | 10.87 | 10.84 | 7.54 | 8.01 | 9.05 | 7.97 | 6.39 | 6.70 |
Average Days of Payables |
17.13 | 26.28 | 28.17 | 24.45 | 28.83 | 39.51 | 31.68 | 28.04 | 31.85 | 36.12 |
Days of Inventory on Hand |
33.61 | 43.80 | 33.93 | 33.90 | 45.21 | 53.98 | 40.84 | 47.93 | 56.18 | 44.89 |
Average Receivables |
153.23 | 150.24 | 163.95 | 176.90 | 137.02 | 138.91 | 216.04 | 219.28 | 163.47 | 131.91 |
Average Payables |
75.48 | 89.89 | 130.78 | 143.97 | 119.62 | 139.19 | 181.55 | 172.87 | 151.67 | 146.24 |
Average Inventory |
153.47 | 160.34 | 182.57 | 185.66 | 175.33 | 200.69 | 240.75 | 255.75 | 263.23 | 219.99 |
Average Assets |
924.20 | 1,125.12 | 1,327.95 | 1,304.49 | 1,233.03 | 1,134.27 | 1,155.30 | 1,283.17 | 1,387.17 | 1,291.36 |
Average Common Equity |
456.10 | 489.23 | 489.96 | 497.42 | 462.93 | 365.21 | 361.58 | 473.55 | 369.66 | 279.18 |
Columns are period end dates