WNCNYSETruck TrailersFiscal year ends December 31
WABASH NATIONAL Corp
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$12.26−0.10 (-0.81%)
Close on Oct 19, 2026
- Market cap
- $499.46M
- P/E (TTM)
- –
- Dividend yield
- 2.61%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
4.5%−6.2 pts over 5 years
Operating margin
19.9%+25.7 pts over 5 years
Net margin
13.7%+20.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -20.8% | -14.9% | +0.8% | -2.7% | |
| Gross profit | -73.6% | -39.9% | -15.2% | -13.7% | |
| Operating income | – | +22.7% | – | +5.5% | |
| Net income | – | +23.5% | – | +7.3% | |
| EPS, diluted | – | +31.1% | – | +13.0% | |
| Dividend per share | 0.0% | 0.0% | 0.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 26.2% | -21.0% | 76.0% | |
| Return on assets | 12.9% | -7.9% | 16.4% | |
| Current ratio | 2.89 | 2.31 | 1.39 | |
| Debt to equity | 0.50 | 1.11 | 1.21 | |
| Net debt to EBITDA | 0.30× | -6.12× | 1.12× | |
| Interest coverage | 12.9× | -3.5× | 14.4× | |
| Inventory turnover | 9.9× | 7.5× | 6.7× | |
| Capex to revenue | 1.1% | 1.4% | 1.6% | |
| Diluted shares | 66M | 53M | 42M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Wabash National generated $580.10M from operations and spent $659.97M on capital expenditure, dividends and share buybacks. 46% of that went back into the business.
Generated
$580.10M
Used
$659.97M
Capital expenditure$301.18M46%Dividends$76.88M12%Share buybacks$281.91M43%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.7%
×Asset turnover1.19×
×Equity multiplier4.64×
=Return on equity, FY202576.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.7% | 1.19× | 4.64× | 76.0% |
| FY2024 | -14.6% | 1.40× | 3.76× | -77.0% |
| FY2023 | 9.1% | 1.98× | 2.71× | 48.8% |
| FY2022 | 4.5% | 2.17× | 3.20× | 31.0% |
| FY2021 | 0.1% | 1.59× | 3.11× | 0.3% |
| FY2020 | -6.6% | 1.20× | 2.66× | -21.0% |
| FY2019 | 3.9% | 1.78× | 2.62× | 18.0% |
| FY2018 | 3.1% | 1.71× | 2.71× | 14.2% |
| FY2017 | 6.3% | 1.57× | 2.30× | 22.8% |
| FY2016 | 6.5% | 2.00× | 2.03× | 26.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$211.45M
- Cash generatingOperating cash flow above zero$11.67M
- Return on assets improvedROA up on the prior year-20.8% → 15.0%
- Earnings backed by cashOperating cash flow above net income$11.67M vs $211.45M
- Less leverageLong-term debt to assets fell28.1% → 37.8%
- Better liquidityCurrent ratio rose1.93 → 1.39
- No dilutionShare count did not rise44M → 42M
- Gross margin improvedGross margin up on the prior year13.62% → 4.53%
- More efficientAsset turnover rose1.43 → 1.09