Westinghouse Air Brake Technologies Corporation

WABNYSEIndustrials● Active

$259.63

$-0.77(-0.30%)

Market Cap$44.1B

P/E Ratio—

52W High$275.84

52W Low$184.26

Avg Volume979K

Open$262.92

Beta0.94

Free Cash Flow Financials Revenue

Westinghouse Air Brake Technologies Corporation (WAB) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WAB · free cash flow · updated Jun 8, 2026

Core FCF metrics

WAB · FCF · TTM · margin & CAGR

Free cash flow was $1.50B for FY2025 (fiscal year ending 2025-12-31), down 7.9% year-over-year The FCF margin was 13.4%. Five-year CAGR stands at +18.3%.

FY2025 Free Cash Flow$1.50B▼ -7.9% YoY

Trailing 12M (TTM)$1.64Btrailing 4 quarters sum

FCF Margin13.4%$1.50B ÷ revenue

3-Year CAGR+19.0%FY2022 → FY2025

5-Year CAGR+18.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WAB · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.76B(260M)$1.50B▼ 7.9%13.4%

FY2024$1.83B(207M)$1.63B▲ +60.3%15.7%

FY2023$1.20B(186M)$1.01B▲ +14.2%10.5%

FY2022$1.04B(149M)$889.0M▼ 5.7%10.6%

FY2021$1.07B(130M)$943.0M▲ +45.7%12.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WAB · P/FCF · FCF yield · FCF per share

Westinghouse Air Brake Technologies Corporation (WAB) trades at a FCF yield of 3.68% and a price-to-free-cash-flow ratio of 26.9x. FCF per share stands at $9.64, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.68%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$9.64

TTM FCF ÷ Shares Outstanding

Price / FCF

x26.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x31.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

WAB · cash flow statement · operating / investing / financing

For FY2025, Westinghouse Air Brake Technologies Corporation generated $1.76B in operating cash flow and spent 260M in capital expenditures, yielding $1.50B in free cash flow.

Operating Activities

+$1.76B

Cash from core business operations

2025-12-31

Investing Activities

−$2.75B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.03B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.76B) − |CapEx| (260M) = FCF ($1.50B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

WAB vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Westinghouse Air Brake Technologies CorporationYOU

WAB

$1.50B-7.9%13.4%

15%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Westinghouse Air Brake Technologies Corporation (WAB) reported free cash flow of $1.50B for FY2025 (fiscal year ending 2025-12-31), down 7.9% year-over-year. The FCF margin was 13.4%.

Based on available data, Westinghouse Air Brake Technologies Corporation has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.63B in FY2024. The 5-year CAGR stands at +18.3%.

Westinghouse Air Brake Technologies Corporation's FCF yield is 3.68% and price-to-FCF ratio is 26.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WAB free cash flow · 8 questions

Westinghouse Air Brake Technologies Corporation free cash flow was $1.50B for FY2025, down 7.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.64B.

WAB free cash flowWAB FCFWAB FCF 2025WAB free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Westinghouse Air Brake Technologies Corporation · Westinghouse Air Brake Technologies Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026