WAB
IndustrialsWestinghouse Air Brake Technologies Corporation · Railroads · $44B
What is Westinghouse Air Brake Technologies Corporation?
Westinghouse Air Brake Technologies Corporation — known as Wabtec — is a global provider of technology-based equipment, systems, and services for the freight rail and passenger transit industries. Headquartered in Pittsburgh, the company serves customers across six continents.
Wabtec operates through two segments: Freight and Transit. The Freight segment manufactures and services components for freight cars and locomotives, supplies railway electronics, positive train control systems, and provides heat exchange and cooling solutions. The Transit segment focuses on passenger rail vehicles — including subway cars, high-speed trains, light-rail vehicles, and buses — offering braking systems, HVAC equipment, and refurbishment services. Revenue is generated through both equipment sales and long-cycle aftermarket services.
Wabtec was founded in 1995 and is headquartered in Pittsburgh, Pennsylvania.
- Freight locomotive components and rebuilding services
- Positive train control and railway electronics
- Passenger transit braking and HVAC systems
- Freight car trucks, couplers, and draft gears
- Subway car refurbishment and door systems
Is WAB a Good Stock to Buy?
UQS Score rates WAB as Good overall, reflecting a balanced profile across the five quality pillars.
The Growth pillar stands out as the clearest positive, suggesting Wabtec is expanding at a pace that compares favorably within the Industrials sector. The company's diversified revenue mix — spanning both new equipment and recurring aftermarket services — supports that trajectory.
Quality, Moat, Risk, and Valuation all register as Neutral, meaning none of these dimensions currently stand out as either a clear strength or a significant red flag relative to sector peers.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does WAB pay dividends?
Yes — Westinghouse Air Brake Technologies Corporation pays a dividend.
Wabtec pays a regular dividend, which is relatively uncommon among industrial technology companies that also pursue active acquisition strategies. The dividend reflects the company's ability to generate consistent cash flow from its aftermarket services business while still investing in growth. Income-oriented investors may view this as a modest but meaningful signal of financial discipline.
When does WAB report earnings?
Westinghouse Air Brake Technologies reports earnings on a quarterly cadence, consistent with standard practice for US-listed large-cap equities.
Wabtec's results have generally reflected the strength of its aftermarket services business alongside demand trends in both freight and passenger transit markets. Segment-level performance between Freight and Transit can vary depending on capital spending cycles at railroads and transit authorities.
For the most recent quarter's results and guidance updates, visit Wabtec's official investor relations page.
WAB Price History
+219.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Westinghouse Air Brake Technologies Corporation?
Based on Westinghouse Air Brake Technologies Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
WAB Long-term Outlook
Wabtec's Good Growth pillar rating points to a business with identifiable expansion drivers, particularly in technology-enabled rail solutions and international transit markets. The Neutral Risk profile suggests the outlook is neither unusually stable nor unusually volatile — typical for an industrial company with long-cycle contracts and exposure to infrastructure spending. Valuation is also Neutral, indicating the market is pricing in a reasonable but not deeply discounted growth scenario.
Growth drivers
- Rising global demand for freight rail efficiency and decarbonization technology
- International expansion in passenger transit systems and refurbishment contracts
- Recurring aftermarket services revenue tied to the installed base of locomotives and transit vehicles
Key risks
- Cyclical capital spending by freight railroads and public transit authorities
- Integration complexity from past acquisitions affecting operational efficiency
- Neutral Valuation leaves limited margin of safety if growth slows
WAB vs Peers
Wabtec operates in the broader rail ecosystem alongside major freight railroad operators, though its role as a technology and equipment supplier distinguishes it from pure-play carriers.
CNI is a Class I railroad operator and a major customer segment for Wabtec's freight equipment, rather than a direct technology competitor.
Norfolk Southern operates freight rail networks across the eastern US and represents the type of railroad customer that purchases and maintains Wabtec's locomotive and braking systems.
CPKC is a transcontinental freight railroad whose fleet modernization and efficiency initiatives create ongoing demand for Wabtec's technology solutions.
Frequently Asked Questions
What does Westinghouse Air Brake Technologies do?
Wabtec provides technology-based equipment, systems, and services for the global freight rail and passenger transit industries. Its two segments — Freight and Transit — cover everything from locomotive components and railway electronics to subway car refurbishment and bus door systems. The company also generates recurring revenue through aftermarket services tied to its large installed base.
Does WAB pay dividends?
Yes, Wabtec pays a regular dividend. This is notable for an industrial technology company that also pursues acquisitions and capital investment. The dividend is supported by the company's recurring aftermarket services cash flows. For current yield and payment details, check Wabtec's investor relations page or your brokerage platform.
When does WAB report earnings?
Wabtec reports earnings on a quarterly cadence, in line with standard US-listed large-cap practice. Exact dates shift each quarter. For the most current schedule, refer to Wabtec's investor relations page.
Is WAB a good stock to buy?
UQS Score rates WAB as Good overall. The Growth pillar is the standout positive, while Quality, Moat, Risk, and Valuation are all Neutral. Whether WAB fits your portfolio depends on your own investment criteria. The full pillar breakdown is available to UQS Pro members.
Is WAB overvalued?
WAB's Valuation pillar is rated Neutral, suggesting the stock is neither deeply discounted nor significantly stretched relative to sector peers. This means the current price appears to reflect a reasonable growth expectation. Pro members can view the underlying valuation metrics that inform this rating.
How does WAB compare to its competitors?
Wabtec's primary listed peers — CNI, NSC, and CPKC — are freight railroad operators rather than equipment suppliers, which means they are more accurately described as major customers than direct competitors. Wabtec's technology and services positioning differentiates it from pure-play rail carriers. UQS Score provides side-by-side pillar comparisons for Pro members.
What is WAB's market cap bracket?
Wabtec is classified as a large-cap company. This places it among the more established players in the Industrials sector, with the scale to serve major freight railroads and public transit authorities globally.
Who founded Westinghouse Air Brake Technologies?
Wabtec was formed in 1995 through the merger of Westinghouse Air Brake Company and Motive Power Industries. The Westinghouse Air Brake lineage traces back to George Westinghouse, who invented the railway air brake in the 19th century. Full founding history is widely available through public sources.
Is WAB a long-term quality stock?
As a long-term quality indicator, WAB's Good UQS Score reflects a business with identifiable growth drivers and a recurring aftermarket revenue base — both characteristics that long-term investors tend to value. The Neutral readings across Quality, Moat, and Risk suggest the company is solid but not exceptional on those dimensions. Pro members can track pillar changes over time.
What is the main competitive advantage of Wabtec?
Wabtec's primary advantage lies in its deep integration into rail infrastructure through a large installed base of components and systems. Aftermarket services tied to that installed base create switching costs and recurring revenue. The company's positive train control and locomotive technology also require specialized expertise that takes years to develop.
What sector does WAB belong to?
WAB is classified in the Industrials sector, specifically within the rail equipment and technology subsegment. Investors interested in infrastructure, transportation technology, or industrial services often consider Wabtec alongside other rail and transit-related holdings. See our [Industrials sector page](/sector/industrials) for more context.
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Pro Analysis
WAB — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 20, 2026 | 54.3 | 54.3 | 42.0 | 73.0 | 44.8 | 59.6 | -0.8 |
| May 7, 2026 | 55.1 | 54.2 | 42.0 | 72.9 | 49.6 | 60.0 | 0.0 |
| May 3, 2026 | 55.1 | 54.2 | 42.0 | 72.9 | 49.6 | 60.5 | 0.0 |
| May 1, 2026 | 55.1 | 54.2 | 42.0 | 72.9 | 49.6 | 60.4 | +0.1 |
| Apr 26, 2026 | 55.0 | 54.2 | 42.0 | 72.4 | 49.6 | 60.3 | +0.1 |
| Apr 25, 2026 | 54.9 | 54.2 | 42.0 | 72.4 | 49.6 | 59.6 | +0.2 |
| Apr 24, 2026 | 54.7 | 54.2 | 42.0 | 71.4 | 49.6 | 59.5 | +0.1 |
| Apr 23, 2026 | 54.6 | 54.2 | 42.0 | 70.9 | 49.6 | 59.4 | +0.1 |
| Apr 19, 2026 | 54.5 | 54.2 | 42.0 | 70.7 | 49.6 | 59.4 | -0.1 |
| Apr 18, 2026 | 54.6 | 54.2 | 42.0 | 70.7 | 49.6 | 59.8 | -1.0 |
WAB — Pillar Breakdown
Quality
— 54.3/100 (25%)Westinghouse Air Brake Technologies Corporation has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 73.0/100 (20%)Westinghouse Air Brake Technologies Corporation demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 44.8/100 (15%)Westinghouse Air Brake Technologies Corporation has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 59.6/100 (15%)Westinghouse Air Brake Technologies Corporation trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 42/100 (25%)Westinghouse Air Brake Technologies Corporation possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for WAB.
Score Composition
Financial Data
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How is the WAB UQS Score Calculated?
The UQS (Unified Quality Score) for Westinghouse Air Brake Technologies Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Westinghouse Air Brake Technologies Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Westinghouse Air Brake Technologies Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.