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Stocks · Consumer discretionary · Truck Trailers

WABASH NATIONAL Corp

WNC Clue Score45
United States Fiscal year ends December CIK 0000879526
$13.20 -1.57% Close, 9 Oct 2026
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Price $13.20 −15.71% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,845.4Operating income202.5Net income119.4EPS, diluted1.82Fiscal year 2017Revenue1,767.2 −4.2%Operating income130.8Net income111.4 −6.7%EPS, diluted1.78 −2.2%Fiscal year 2018Revenue2,267.3 +28.3%Operating income111.0Net income69.4 −37.7%EPS, diluted1.19 −33.1%Fiscal year 2019Revenue2,319.1 +2.3%Operating income142.8Net income89.6 +29.0%EPS, diluted1.62 +36.1%Fiscal year 2020Revenue1,481.9 −36.1%Operating income−85.6Net income−97.4 −208.7%EPS, diluted−1.84 −213.6%Fiscal year 2021Revenue1,803.3 +21.7%Operating income33.5Net income1.2EPS, diluted0.02Fiscal year 2022Revenue2,502.1 +38.8%Operating income166.6Net income112.3 +9,544.2%EPS, diluted2.25 +11,150.0%Fiscal year 2023Revenue2,536.5 +1.4%Operating income311.9Net income231.3 +106.0%EPS, diluted4.81 +113.8%Fiscal year 2024Revenue1,946.7 −23.3%Operating income−356.1Net income−284.1 −222.8%EPS, diluted−6.40 −233.1%Fiscal year 2025Revenue1,542.8 −20.8%Operating income307.5Net income211.5EPS, diluted5.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,845.4 1,767.2 2,267.3 2,319.1 1,481.9 1,803.3 2,502.1 2,536.5 1,946.7 1,542.8
Growth −4.2% +28.3% +2.3% −36.1% +21.7% +38.8% +1.4% −23.3% −20.8%
Operating income 202.5 130.8 111.0 142.8 −85.6 33.5 166.6 311.9 −356.1 307.5
Net income 119.4 111.4 69.4 89.6 −97.4 1.2 112.3 231.3 −284.1 211.5
Growth −6.7% −37.7% +29.0% −208.7% +9,544.2% +106.0% −222.8%
EPS, diluted 1.82 1.78 1.19 1.62 −1.84 0.02 2.25 4.81 −6.40 5.07
Growth −2.2% −33.1% +36.1% −213.6% +11,150.0% +113.8% −233.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin17.6%Operating margin11.0%Net margin6.5%Free cash flow margin8.6%Fiscal year 2017Gross margin14.8%Operating margin7.4%Net margin6.3%Free cash flow margin6.7%Fiscal year 2018Gross margin12.5%Operating margin4.9%Net margin3.1%Free cash flow margin3.5%Fiscal year 2019Gross margin13.2%Operating margin6.2%Net margin3.9%Free cash flow margin4.7%Fiscal year 2020Gross margin10.8%Operating margin−5.8%Net margin−6.6%Free cash flow margin7.0%Fiscal year 2021Gross margin10.9%Operating margin1.9%Net margin0.1%Free cash flow margin−3.1%Fiscal year 2022Gross margin12.9%Operating margin6.7%Net margin4.5%Free cash flow margin2.7%Fiscal year 2023Gross margin19.6%Operating margin12.3%Net margin9.1%Free cash flow margin8.7%Fiscal year 2024Gross margin13.6%Operating margin−18.3%Net margin−14.6%Free cash flow margin2.3%Fiscal year 2025Gross margin4.5%Operating margin19.9%Net margin13.7%Free cash flow margin−0.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 17.6% 14.8% 12.5% 13.2% 10.8% 10.9% 12.9% 19.6% 13.6% 4.5%
Operating margin 11.0% 7.4% 4.9% 6.2% −5.8% 1.9% 6.7% 12.3% −18.3% 19.9%
Net margin 6.5% 6.3% 3.1% 3.9% −6.6% 0.1% 4.5% 9.1% −14.6% 13.7%
Free cash flow margin 8.6% 6.7% 3.5% 4.7% 7.0% −3.1% 2.7% 8.7% 2.3% −0.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow178.8Capital expenditure−20.3Free cash flow158.4Dividends paid0.0Fiscal year 2017Operating cash flow144.4Capital expenditure−26.1Free cash flow118.3 −25.3%Dividends paid−15.3Fiscal year 2018Operating cash flow112.5Capital expenditure−34.0Free cash flow78.5 −33.7%Dividends paid−17.8Fiscal year 2019Operating cash flow146.3Capital expenditure−37.6Free cash flow108.6 +38.5%Dividends paid−17.8Fiscal year 2020Operating cash flow124.1Capital expenditure−20.1Free cash flow104.0 −4.3%Dividends paid−17.3Fiscal year 2021Operating cash flow−7.5Capital expenditure−49.1Free cash flow−56.6 −154.4%Dividends paid−16.4Fiscal year 2022Operating cash flow124.1Capital expenditure−57.1Free cash flow67.0Dividends paid−16.0Fiscal year 2023Operating cash flow319.6Capital expenditure−98.1Free cash flow221.5 +230.6%Dividends paid−15.9Fiscal year 2024Operating cash flow117.3Capital expenditure−72.2Free cash flow45.1 −79.6%Dividends paid−14.8Fiscal year 2025Operating cash flow11.7Capital expenditure−24.7Free cash flow−13.0 −128.9%Dividends paid−13.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 178.8 144.4 112.5 146.3 124.1 −7.5 124.1 319.6 117.3 11.7
Capital expenditure −20.3 −26.1 −34.0 −37.6 −20.1 −49.1 −57.1 −98.1 −72.2 −24.7
Free cash flow 158.4 118.3 78.5 108.6 104.0 −56.6 67.0 221.5 45.1 −13.0
Growth −25.3% −33.7% +38.5% −4.3% −154.4% +230.6% −79.6% −128.9%
Dividends paid 0.0 −15.3 −17.8 −17.8 −17.3 −16.4 −16.0 −15.9 −14.8 −13.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash163.5Total debt235.9Net cash (debt)−72.5Shareholders’ equity472.4Debt to equity0.50Fiscal year 2017Cash191.5Total debt550.1Net cash (debt)−358.6Shareholders’ equity506.1Debt to equity1.09Fiscal year 2018Cash132.7Total debt504.9Net cash (debt)−372.2Shareholders’ equity473.8Debt to equity1.07Fiscal year 2019Cash140.5Total debt455.4Net cash (debt)−314.9Shareholders’ equity521.0Debt to equity0.87Fiscal year 2020Cash217.7Total debt448.0Net cash (debt)−230.3Shareholders’ equity404.9Debt to equity1.11Fiscal year 2021Cash71.8Total debt428.3Net cash (debt)−356.5Shareholders’ equity325.5Debt to equity1.32Fiscal year 2022Cash58.2Total debt395.8Net cash (debt)−337.6Shareholders’ equity397.6Debt to equity1.00Fiscal year 2023Cash179.3Total debt396.5Net cash (debt)−217.2Shareholders’ equity549.5Debt to equity0.72Fiscal year 2024Cash115.5Total debt397.1Net cash (debt)−281.7Shareholders’ equity188.8Debt to equity2.10Fiscal year 2025Cash31.9Total debt442.9Net cash (debt)−410.9Shareholders’ equity367.4Debt to equity1.21
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 163.5 191.5 132.7 140.5 217.7 71.8 58.2 179.3 115.5 31.9
Total debt 235.9 550.1 504.9 455.4 448.0 428.3 395.8 396.5 397.1 442.9
Net cash (debt) −72.5 −358.6 −372.2 −314.9 −230.3 −356.5 −337.6 −217.2 −281.7 −410.9
Shareholders’ equity 472.4 506.1 473.8 521.0 404.9 325.5 397.6 549.5 188.8 367.4
Debt to equity 0.50 1.09 1.07 0.87 1.11 1.32 1.00 0.72 2.10 1.21

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,845.4 1,767.2 2,267.3 2,319.1 1,481.9 1,803.3 2,502.1 2,536.5 1,946.7 1,542.8
Growth −4.2% +28.3% +2.3% −36.1% +21.7% +38.8% +1.4% −23.3% −20.8%
1,519.9 1,506.3 1,983.6 2,012.8 1,322.1 1,606.8 2,179.4 2,038.3 1,681.7 1,472.8
325.5 260.9 283.7 306.4 159.8 196.5 322.7 498.2 265.1 69.9
Growth −19.9% +8.7% +8.0% −47.9% +23.0% +64.2% +54.4% −46.8% −73.6%
6.4 3.9 8.8 19.5 21.9 13.6 5.3 7.5 8.6 5.9
74.1 77.8 95.1 108.3 92.7 88.8 156.0 186.2 621.2 n/a
202.5 130.8 111.0 142.8 −85.6 33.5 166.6 311.9 −356.1 307.5
Growth −35.4% −15.2% +28.7% −160.0% +396.8% +87.2% −214.2%
185.4 122.5 96.0 117.7 −109.2 1.3 146.4 294.7 −376.6 283.2
66.0 11.1 26.6 28.2 −11.8 0.1 33.7 62.8 −93.5 71.5
119.4 111.4 69.4 89.6 −97.4 1.2 112.3 231.3 −284.1 211.5
Growth −6.7% −37.7% +29.0% −208.7% +9,544.2% +106.0% −222.8%
Per share
1.87 1.88 1.22 1.64 −1.84 0.02 2.31 4.92 −6.40 5.09
1.82 1.78 1.19 1.62 −1.84 0.02 2.25 4.81 −6.40 5.07
Growth −2.2% −33.1% +36.1% −213.6% +11,150.0% +113.8% −233.1%
63.7 59.4 57.0 54.7 52.9 50.7 48.6 47.0 44.4 41.5
65.8 62.6 58.4 55.3 52.9 51.6 49.9 48.0 44.4 41.7
Growth −4.8% −6.7% −5.4% −4.2% −2.5% −3.3% −3.7% −7.6% −5.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 0.8% a year over five years.
  • The diluted share count fell 21.2% in five years, so buybacks did some of the work per share.
  • Operating margin is up 25.7 points on five years ago, at 19.9%.
  • A net loss in 2 of 10 years on file.