Westinghouse Air Brake Technologies Corp (WAB) Fair Value & Analysis
Industrials · US · Market cap $44.5B · ISIN US9297401088
What is Westinghouse Air Brake Technologies Corp really worth?
Westinghouse Air Brake Technologies Corp
WAB · US
A solid business, but trading 94% above our fair value of $144.80.
Strengths
Risks
For context
Fair value as of: Aug 23, 2026
From 24 valuation models · updated 13 days ago
Share price −6.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($181.01). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($87.86 to $181.01) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range $75.49 – $305.79 · fair‑value band $87.86 – $181.01 · the $280.83 price screens above the $144.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Westinghouse Air Brake Technologies Corp (WAB) currently trades at $280.83, while our model-based Fair Value estimate is $144.80, implying the stock looks roughly 93.9% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $158.56 per share, and 0 of the 24 models we run sit above the $280.83 price. Bear case: the Asset-Based group reads lowest at $44.00, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Westinghouse Air Brake Technologies Corp generated revenue of $11.5B at a net margin of 10.5%. Revenue grew 13.0% year over year. It earns a return on equity of 11.3%. Net debt stands at $4.8B. Fundamentals as of Aug 23, 2026
Our scenario range runs from $87.86 (bear case) to $181.01 (bull case); at $280.83, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −48%, WAB screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.06 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models ($158.56) versus Asset-Based ($44.00). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 75
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Westinghouse Air Brake Technologies Corporation provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates in two segments, Freight and Transit.
Full company description
Westinghouse Air Brake Technologies Corporation provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates in two segments, Freight and Transit. It offers diesel-electric and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products. The company also offers positive train control equipment; electronically controlled pneumatic braking products; railway electronics; signal design and engineering services; distributed locomotive power, and train cruise and remote controls; industrial/mobile Internet of Things hardware and software, edge-to-cloud, on and off-board analytics and rules, and asset performance management solutions; rail and shipper transportation management, and port visibility and optimization solutions; and network optimization solutions. In addition, it provides freight car trucks, braking equipment, and related components; air compressors and dryers, as well as heating, ventilation, and air conditioning (HVAC) systems; heat transfer components and systems; custom engineered burners and combustion systems; rail gear, signaling, and switch products; and turbochargers. Further, it offers freight locomotive overhauls, modernizations, and refurbishment; locomotive and car maintenance; transit locomotive and car overhaul; unit exchange of locomotive components; long-term parts arrangements; and way equipment maintenance services. Additionally, it provides railway and freight braking equipment and related components; brake shoes, discs, and pads; HVAC equipment; access and platform screen doors; pantographs; power converters and battery chargers; passenger information systems and closed-circuit television; signaling and railway electric relays; and doors, window assemblies, accessibility lifts, ramps, and electric charging solutions for buses. The company was founded in 1869 and is headquartered in Pittsburgh, Pennsylvania.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Westinghouse Air Brake Technologies Corp reported revenue of $11.2B in FY2025 versus $7.8B in FY2021, a compound +9.3%/yr. Reported net income was $1.2B in FY2025, compounding +20.3%/yr from FY2021.
of which total revenue +14.4 % · buybacks/dilution −6.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
WAB screens 94% overvalued. Compare with Union Pacific Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Westinghouse Air Brake EVP Sbrocco Sells 952 Shares for $285,600
- Is Westinghouse Air Brake Technologies (WAB) Above Fair Value Today?
Peer Group
Railroads · 111 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Railroads median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Railroads stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Union Pacific Corporation UNP | $307.41 | $141.29 | −54% |
| CSX Corporation CSX | $48.99 | $12.62 | −74% |
| Canadian Pacific Kansas City Limited CP | $94.12 | $34.33 | −64% |
| Canadian National Railway Company CNR | C$175.06 | C$92.68 | −47% |
| Norfolk Southern Corporation NSC | $332.96 | $114.36 | −66% |
| Beijing-Shanghai High-Speed Railway Co 601816 | ¥4.87 | ¥5.65 | +16% |
| MTR Corporation 0066 | HK$32.04 | HK$17.85 | −44% |
| CRRC Corporation 601766 | ¥5.98 | ¥9.53 | +59% |
| Daqin Railway Co 601006 | ¥4.72 | ¥6.22 | +32% |
| Hyundai Rotem Company 064350 | 146,900 KRW | 125,182 KRW | −15% |
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