A Business at a Glance
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WABASH NATIONAL Corp
WNC
$556M
Mkt Cap
$13.34
+0.30%
WABASH NATIONAL Corp (WNC) has a current P/E ratio of 2.6, compared to its historical median P/E of 7.8. The stock is currently considered Cheap based on its historical valuation range.
WABASH NATIONAL Corp (WNC) has a 5-year average return on invested capital (ROIC) of 10.6%. This indicates solid capital allocation.
WABASH NATIONAL Corp (WNC) has a market capitalization of $543M. It is classified as a small-cap stock.
Yes, WABASH NATIONAL Corp (WNC) pays a dividend with a trailing twelve-month yield of 2.47%. The company also returns capital through share buybacks, with a buyback yield of 3.18%.
Based on historical P/E analysis, WABASH NATIONAL Corp (WNC) appears cheap. The current P/E of 2.6 is 66% below its historical median of 7.8. The estimated fair value CAGR (P/E method) is 27.7%.
WABASH NATIONAL Corp (WNC) operates in the Truck Trailers industry, within the Consumer Cyclical sector.
WABASH NATIONAL Corp (WNC) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Wabash National Corporation, which we refer to herein as “Wabash,” the “Company,” “us,” “we,” or “our,” is Changing How the World Reaches You®. Wabash was founded in 1985 and incorporated as a corporation in Delaware in 1991, with its principal executive offices in Lafayette, Indiana, as a dry van trailer manufacturer. Today we combine physical and digital technologies to deliver innovative, end-to-end solutions that optimize supply chains across transportation, logistics, and infrastructure markets. To that end, we design, manufacture, and service a diverse range of products supporting first-to-final mile operations, including dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade processing equipment.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.9B | 2.5B | 2.5B | 1.8B |
| Net Income | -65M | 211M | -284M | 231M | 112M | 1.2M |
| EPS | $-1.59 | $5.07 | $-6.40 | $4.81 | $2.25 | $0.02 |
| Free Cash Flow | -41M | -13M | 45M | 222M | 67M | -57M |
| ROIC | -6.1% | 35.8% | -37.1% | 32.0% | 17.8% | 4.6% |
| Gross Margin | 2.8% | 4.5% | 13.6% | 19.6% | 12.9% | 10.9% |
| Debt/Equity | 1.55 | 1.30 | 2.30 | 0.78 | 1.05 | 1.35 |
| Dividends/Share | $0.33 | $0.32 | $0.32 | $0.32 | $0.32 | $0.32 |
| Operating Income | -59M | 308M | -356M | 312M | 167M | 34M |
| Operating Margin | -4.1% | 19.9% | -18.3% | 12.3% | 6.7% | 1.9% |
| ROE | -20.2% | 76.0% | -77.0% | 48.8% | 31.0% | 0.3% |
| Shares Outstanding | 41M | 42M | 44M | 48M | 50M | 58M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.9B | 2.0B | 1.8B | 1.8B | 2.3B | 2.3B | 1.5B | 1.8B | 2.5B | 2.5B | 1.9B | 1.5B | 1.5B |
| Gross Margin | 12.5% | 15.0% | 17.6% | 14.8% | 12.5% | 13.2% | 10.8% | 10.9% | 12.9% | 19.6% | 13.6% | 4.5% | 2.8% |
| R&D | 1.7M | 4.8M | 6.4M | 3.9M | 8.8M | 20M | 22M | 14M | 5.3M | 7.5M | 8.6M | 5.9M | 5.9M |
| SG&A | 62M | 73M | 74M | 78M | 95M | 108M | 93M | 89M | 156M | 186M | 621M | 24M | 26M |
| EBIT | 122M | 180M | 203M | 131M | 111M | 143M | -86M | 34M | 167M | 312M | -356M | 308M | -59M |
| Op. Margin | 6.6% | 8.9% | 11.0% | 7.4% | 4.9% | 6.2% | -5.8% | 1.9% | 6.7% | 12.3% | -18.3% | 19.9% | -4.1% |
| Net Income | 61M | 104M | 119M | 111M | 69M | 90M | -97M | 1.2M | 112M | 231M | -284M | 211M | -65M |
| Net Margin | 3.3% | 5.1% | 6.5% | 6.3% | 3.1% | 3.9% | -6.6% | 0.1% | 4.5% | 9.1% | -14.6% | 13.7% | -4.4% |
| Non-Recurring | -13K | 9.4M | 1.6M | 8.0M | 15M | 109K | 108M | 31M | 2.0M | -235K | 1.5M | 13M | 13M |
| Returns on Capital | |||||||||||||
| ROIC | 13.3% | 20.1% | 23.3% | 16.9% | 9.3% | 12.8% | -10.7% | 4.6% | 17.8% | 32.0% | -37.1% | 35.8% | -6.1% |
| ROE | 17.1% | 25.1% | 26.2% | 22.8% | 14.2% | 18.0% | -21.0% | 0.3% | 31.0% | 48.8% | -77.0% | 76.0% | -20.2% |
| ROA | 6.6% | 11.1% | 12.9% | 9.9% | 5.2% | 6.9% | -7.9% | 0.1% | 9.7% | 18.0% | -20.5% | 16.4% | -5.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 93M | 132M | 179M | 144M | 112M | 146M | 124M | -7.5M | 124M | 320M | 117M | 12M | -22M |
| Free Cash Flow | 73M | 111M | 158M | 118M | 78M | 109M | 104M | -57M | 67M | 222M | 45M | -13M | -41M |
| Owner Earnings | 46M | 84M | 130M | 99M | 62M | 95M | 72M | -63M | 67M | 262M | 49M | -59M | -92M |
| CapEx | 20M | 21M | 20M | 26M | 34M | 38M | 20M | 49M | 57M | 98M | 72M | 25M | 19M |
| Maint. CapEx | 39M | 38M | 37M | 35M | 41M | 42M | 48M | 49M | 47M | 45M | 57M | 59M | 59M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 263K | 10M | 53M | 15M | 0 | 0 |
| D&A | 39M | 38M | 37M | 35M | 41M | 42M | 48M | 49M | 47M | 45M | 57M | 59M | 59M |
| CapEx/OCF | 21.5% | 15.8% | 11.4% | 18.0% | 30.2% | 25.7% | 16.2% | N/A | 46.0% | 30.7% | 61.6% | 211.8% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 15M | 18M | 18M | 17M | 16M | 16M | 16M | 15M | 14M | 13M |
| Dividend Yield | N/A | N/A | N/A | 1.4% | 1.9% | 2.5% | 3.1% | 1.9% | 2.0% | 1.5% | 1.6% | 3.2% | 2.5% |
| Share Buybacks | 1.5M | 62M | 80M | 74M | 58M | 34M | 19M | 67M | 34M | 76M | 71M | 34M | 17M |
| Buyback Yield | 0.2% | 8.9% | 9.2% | 6.5% | 9.1% | 4.8% | 2.3% | 6.3% | 3.2% | 6.5% | 9.6% | 9.2% | 3.2% |
| Stock-Based Comp | 7.8M | 10M | 12M | 10M | 10M | 9.0M | 4.5M | 7.1M | 9.7M | 12M | 11M | 11M | 11M |
| Debt Repayment | 475K | 496K | 473K | 583K | 93K | 0 | 0 | 139M | 1.1M | 117K | 5K | 1K | 1K |
| Balance Sheet | |||||||||||||
| Net Debt | 179M | 134M | 72M | 359M | 372M | 329M | 241M | 368M | 361M | 249M | 318M | 447M | 455M |
| Cash & Equiv. | 146M | 179M | 163M | 192M | 133M | 141M | 218M | 72M | 58M | 179M | 115M | 32M | 43M |
| Long-Term Debt | 325M | 275M | 233M | 504M | 503M | 455M | 448M | 428M | 396M | 396M | 397M | 443M | 498M |
| Debt/Equity | 0.83 | 0.71 | 0.50 | 1.09 | 1.07 | 0.90 | 1.13 | 1.35 | 1.05 | 0.78 | 2.30 | 1.30 | 1.55 |
| Interest Coverage | 5.5 | 9.2 | 12.9 | 8.0 | 3.9 | 5.2 | -3.5 | 1.5 | 8.1 | 15.7 | -17.9 | 14.4 | 14.4 |
| Equity | 391M | 440M | 472M | 506M | 474M | 521M | 405M | 326M | 398M | 549M | 189M | 367M | 321M |
| Total Assets | 927M | 950M | 899M | 1.4B | 1.3B | 1.3B | 1.2B | 1.1B | 1.2B | 1.4B | 1.4B | 1.2B | 1.2B |
| Total Liabilities | 537M | 510M | 426M | 845M | 831M | 784M | 757M | 782M | 805M | 813M | 1.2B | 803M | 907M |
| Intangibles | 137M | 115M | 94M | 237M | 210M | 190M | 167M | 114M | 99M | 86M | 74M | 64M | 61M |
| Retained Earnings | -216M | -112M | 3.6M | 99M | 150M | 222M | 107M | 92M | 188M | 404M | 106M | 304M | 255M |
| Working Capital | 299M | 318M | 315M | 293M | 278M | 282M | 310M | 240M | 245M | 329M | 286M | 117M | 117M |
| Current Assets | 486M | 530M | 481M | 576M | 549M | 541M | 546M | 530M | 593M | 681M | 594M | 419M | 469M |
| Current Liabilities | 187M | 211M | 167M | 284M | 272M | 259M | 236M | 289M | 347M | 352M | 308M | 302M | 353M |
| Per Share Data | |||||||||||||
| EPS | 0.85 | 1.50 | 1.82 | 1.78 | 1.19 | 1.62 | -1.84 | 0.02 | 2.25 | 4.81 | -6.40 | 5.07 | -1.59 |
| Owner EPS | 0.64 | 1.21 | 1.98 | 1.58 | 1.06 | 1.72 | 1.35 | -1.09 | 1.35 | 5.46 | 1.10 | -1.40 | -2.26 |
| Book Value | 5.45 | 6.33 | 7.20 | 8.08 | 8.12 | 9.42 | 7.65 | 5.59 | 7.97 | 11.43 | 4.25 | 8.81 | 7.88 |
| Cash Flow/Share | 1.29 | 1.90 | 2.72 | 2.31 | 1.93 | 2.65 | 2.34 | -0.13 | 2.49 | 6.65 | 2.64 | 0.28 | -0.15 |
| Dividends/Share | N/A | 0.00 | 0.06 | 0.26 | 0.31 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.33 |
| Shares Out. | 71.7M | 69.5M | 65.6M | 62.6M | 58.3M | 55.3M | 52.9M | 58.2M | 49.9M | 48.1M | 44.4M | 41.7M | 40.7M |
| Valuation | |||||||||||||
| P/E Ratio | 12.1 | 6.6 | 7.2 | 10.3 | 9.3 | 7.8 | N/A | 904.6 | 9.5 | 5.1 | N/A | 1.7 | -8.4 |
| P/FCF | 10.1 | 6.2 | 5.5 | 9.7 | 8.2 | 6.4 | 8.0 | N/A | 16.0 | 5.3 | 16.4 | N/A | N/A |
| EV/EBIT | 6.3 | 3.8 | 3.8 | 10.4 | 8.0 | 6.1 | N/A | 39.9 | 8.1 | 3.9 | N/A | 2.4 | N/A |
| Price/Book | 1.9 | 1.6 | 1.8 | 2.3 | 1.4 | 1.3 | 2.0 | 3.2 | 2.7 | 2.1 | 3.9 | 1.0 | 1.7 |
| Price/Sales | 0.4 | 0.4 | 0.4 | 0.6 | 0.4 | 0.3 | 0.4 | 0.5 | 0.3 | 0.4 | 0.5 | 0.3 | 0.4 |
| FCF Yield | 9.9% | 16.0% | 18.3% | 10.3% | 12.2% | 15.6% | 12.6% | -5.4% | 6.3% | 18.8% | 6.1% | -3.6% | -7.6% |
| Market Cap | 735M | 693M | 864M | 1.1B | 645M | 698M | 828M | 1.1B | 1.1B | 1.2B | 741M | 367M | 543M |
| Avg. Price | 10.86 | 10.71 | 10.88 | 17.26 | 16.24 | 12.68 | 10.68 | 15.24 | 16.32 | 22.70 | 21.22 | 10.42 | 13.34 |
| Year-End Price | 10.26 | 9.97 | 13.16 | 18.28 | 11.05 | 12.62 | 15.63 | 18.09 | 21.47 | 24.49 | 16.70 | 8.80 | 13.34 |
WABASH NATIONAL Corp passes 6 of 9 quality checks, suggesting mixed fundamentals.
WABASH NATIONAL Corp trades at 2.6x trailing earnings, compared to its 15-year median P/E of 7.8x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 10.6% with a gross margin of 12.3%. Total shareholder yield (dividends + buybacks) is 5.7%. At current prices, the estimated annualized return to fair value is +6.9%.
WABASH NATIONAL Corp (WNC) has a net profit margin of 13.7%. This is a healthy margin.
WABASH NATIONAL Corp (WNC) generated $-13 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
WABASH NATIONAL Corp (WNC) has a debt-to-equity ratio of 1.30. This indicates moderate leverage.
WABASH NATIONAL Corp (WNC) reported earnings per share (EPS) of $5.07 in its most recent fiscal year.
WABASH NATIONAL Corp (WNC) has a return on equity (ROE) of 76.0%. This indicates the company generates strong returns for shareholders.
WABASH NATIONAL Corp (WNC) has a 5-year average gross margin of 12.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for WABASH NATIONAL Corp (WNC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WABASH NATIONAL Corp (WNC) has a book value per share of $8.81, based on its most recent annual SEC filing.
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