Wabtec (WAB)
Builds rail locomotives, transit systems and recurring aftermarket services worldwide.
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Builds locomotives, freight-car components, passenger-rail systems and digital train-control tools, then earns aftermarket revenue from parts, modernizations and service. Freight provides most sales, while a large installed base and global Transit operations create recurring maintenance demand.
Builds and services locomotives, freight-car components and digital rail-control systems through the Freight segment. The Transit segment supplies brakes, couplers and gangways, doors, HVAC, pantographs, signaling and other systems for passenger rail and buses, with aftermarket parts and maintenance across both segments.
Pairs new equipment with modernization, overhaul, replacement parts and long-term service around an installed base of nearly 24,600 locomotives and a broad global transit fleet. Freight is centered in the United States, while Transit is predominantly international; roughly half of total sales come from outside the country.
Revenue therefore blends project-driven original equipment with recurring aftermarket work. Demand follows freight-railroad traffic and capital spending, passenger ridership, transit-agency funding and fleet-renewal cycles, while products face country-specific testing, certification and safety requirements.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 23, 2026 | Stephens | Reiterate | Rating: —Target: $205 | Target: $330 |
| Jul 23, 2026 | KeyBanc | Reiterate | Rating: —Target: $308 | Target: $340 |
| Jul 23, 2026 | Susquehanna | Reiterate | Rating: —Target: $305 | Target: $340 |
| Jul 23, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $318 | Target: $355 |
| Apr 27, 2026 | Morgan Stanley | Target | Target: $315 | Target: $318 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $670.0M · Total debt $6.94B · Total assets $23.13B · Shareholders' equity $11.24B
- Revenue
- $3.18B
- Operating income
- $600.0M
- Net income
- $395.0M
HistoryDividendAnnual yield
| Institutions | 93.42% | 157.79M shares | |
|---|---|---|---|
| 1,210 holders · as of Jun 30, 2026 | |||
| Insiders | 3.60% | 6.08M shares | |
| 26 holders · as of Sep 3, 2026 | |||
| Strategic holders | 1.21% | 2.05M shares | |
| 1 holder · as of Aug 12, 2019 | |||
| Other | 1.77% | 2.99M shares | |
| remainder | |||
168.91M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 12.66% | 21.38M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.22% | 13.88M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.56% | 11.08M | as of Jun 30, 2026 |
Pzena Investment Management, LLCInstitution | 5.34% | 9.02M | filed Aug 5, 2022 |
State Street CorpInstitution | 4.68% | 7.91M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Rafael Santana | director, officer: President and CEO | −1,087 | $280.30 |
| Sep 1, 2026 | Rafael Santana | director, officer: President and CEO | −1,096 | $280.08 |
| Aug 21, 2026 | Rogerio Mendonca | officer: President, Equipment Group | −2,919 | $297.05 |
| Aug 20, 2026 | Michael Fetsko | officer: Pres., Freight Components Grp. | −3,250 | $293.22 |
| Aug 17, 2026 | Gregory Sbrocco | officer: EVP Operations | −952 | $300.00 |
- Caterpillar
Only other North American mainline locomotive OEM; named rival in Wabtec's 10-K.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Wabtec | $285.06 | +0.59% | $47.86B | 38.1 | 24.9 | 4.0 | +17.5% |
| Caterpillar | $808.31 | −1.00% | $376.11B | 35.1 | 28.1 | 5.0 | +24.0% |
| Median | 35.1 | 28.1 | 5.0 | +24.0% |