WABASH NATIONAL Corp (WNC) stock analysis

P/E against its history

Not enough price and earnings history to compare.

P/E against the industry

Needs positive earnings and enough profitable companies in the industry.

EV/EBITDA against its history

Needs positive EBITDA and price history.

P/B above the industry

Wabash National's price-to-book of 1.81 is above the Motor Vehicles and Motor Vehicle Equipment median of 1.56.

Trading below fair value

The share price of $12.03 is below our fair value estimate of $21.02.

Margin of safety over 20%

The price is 42.8% below fair value, more than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew -14.9% a year over the last three fiscal years, short of the 10% we look for.

EPS growing 10%+ a year

Diluted EPS grew 31.1% a year over the last three fiscal years.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing slower than the industry

Revenue grew -7.3% over the last twelve months; the Motor Vehicles and Motor Vehicle Equipment median is 5.5%.

Guidance issued

The latest outlook (fourth quarter of 2026 revenue, Oct 29, 2026) was issued for the first time, so it neither adds nor takes away points.

Gross margin slipping

Gross margin was 0.9% over the last twelve months, against 7.3% a year earlier.

Return on equity under 15%

Return on equity was -40.2% over the last twelve months and averaged 15.9% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was -16.7%, below the 10% that usually covers the cost of capital.

Return on equity below the industry

Wabash National's return on equity of -40.2% is below the Motor Vehicles and Motor Vehicle Equipment median of 3.5%.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin below its 5-year average

Net margin was -9.1% over the last twelve months, against a 5-year average of 2.6%.

Net margin below the industry

Wabash National's net margin of -9.1% is below the Motor Vehicles and Motor Vehicle Equipment median of 1.9%.

High debt

Debt is 199% of shareholders' equity, above the 40% we consider low.

Debt rising against equity

Debt to equity rose from 111% five years ago to 199%.

Debt not well covered by cash flow

Operating cash flow over the last twelve months equals -22.8% of total debt; we look for at least 20%.

Interest not well covered

Operating income covers interest expense -6.2 times; we look for at least 5.

Short-term assets cover short-term debts

Current assets are 1.38 times current liabilities.

Elevated bankruptcy risk

The Altman Z-score is 1.48; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Wabash National paid dividends worth 2.7% of the share price over the last twelve months.

Yield below Treasuries

The 2.7% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Wabash National yields 2.7%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 10 fiscal years.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.