WAB (Westinghouse Air Brake Technologies) Operating Income: $1,836 Mil (TTM As of Mar. 2026)

What is Westinghouse Air Brake Technologies Operating Income?

Westinghouse Air Brake Technologies WAB +0.55% 90 Operating Income is $1,836 Mil as of Mar. 2026. GuruFocus rates WAB with a GF Score™ of 90/100 and a GF Value™ of $213.66 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Westinghouse Air Brake Technologies's Operating Income for the three months ended in Mar. 2026 was $517 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,836 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Westinghouse Air Brake Technologies's Operating Income for the three months ended in Mar. 2026 was $517 Mil. Westinghouse Air Brake Technologies's Revenue for the three months ended in Mar. 2026 was $2,950 Mil. Therefore, Westinghouse Air Brake Technologies's Operating Margin % for the quarter that ended in Mar. 2026 was 17.53%.

Good Sign:

Westinghouse Air Brake Technologies Corp operating margin is expanding. Margin expansion is usually a good sign.

Westinghouse Air Brake Technologies's 5-Year average Growth Rate for Operating Margin % was 10.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Westinghouse Air Brake Technologies's annualized ROC % for the quarter that ended in Mar. 2026 was 8.06%. Westinghouse Air Brake Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 90.36%.

Westinghouse Air Brake Technologies (NYSE:WAB) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Westinghouse Air Brake Technologies's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	2068 * ( 1 - 22.6% )	/	( (19130	+	20574)	/ 2 )
=	1600.632	/	19852
=	8.06 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	22069	-	2395	-	( 764	-	max(0, 5150	-	5694	+	764	))
=	19130

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	23196	-	2484	-	( 531	-	max(0, 5835	-	5973	+	531	))
=	20574

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Westinghouse Air Brake Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	2160	/	( ( (1616 + max(543, 0))	+	(1653 + max(969, 0)) )	/	2 )
=	2160	/	( ( 2159	+	2622 )	/	2 )
=	2160	/	2390.5
=	90.36 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1410	+	2745	+	288)	-	(2395	+	1015	+	490)
=	543

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1784	+	2850	+	340)	-	(2484	+	1006	+	515)
=	969

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Westinghouse Air Brake Technologies's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	517	/	2950
	=	17.53 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Westinghouse Air Brake Technologies Operating Income Related Terms

Westinghouse Air Brake Technologies Operating Income Historical Data

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The historical data trend for Westinghouse Air Brake Technologies's Operating Income can be seen below:

Westinghouse Air Brake Technologies Operating Income Chart

Westinghouse Air Brake Technologies Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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876.00

1,011.00

1,266.00

1,609.00

1,793.00

Westinghouse Air Brake Technologies Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															474.00	472.00	491.00	356.00	517.00

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Westinghouse Air Brake Technologies Corp WAB

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Westinghouse Air Brake Technologies Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,836 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $1,836 Mil mean?

Westinghouse Air Brake Technologies (WAB) has a Operating Income of $1,836 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Westinghouse Air Brake Technologies and its competitors.

Is Westinghouse Air Brake Technologies' Operating Income too high?

Westinghouse Air Brake Technologies' current Operating Income is $1,836 Mil. Overall, Westinghouse Air Brake Technologies has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Westinghouse Air Brake Technologies' Operating Income compare to NSC and CSX?

Westinghouse Air Brake Technologies' Operating Income of $1,836 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Transportation company?

A good Operating Income depends on the Transportation industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Westinghouse Air Brake Technologies and its competitors. Westinghouse Air Brake Technologies's current Operating Income is $1,836 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Westinghouse Air Brake Technologies stock overvalued right now?

Based on GuruFocus' analysis, Westinghouse Air Brake Technologies (WAB) is currently considered Modestly Overvalued. The stock's GF Value™ is $213.66, compared to a current price of $261.21 — trading 22.3% above its estimated fair value. The current Operating Income is $1,836 Mil. Westinghouse Air Brake Technologies' overall GF Score™ is 90/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Westinghouse Air Brake Technologies (WAB), the current Operating Income is $1,836 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Westinghouse Air Brake Technologies (WAB) Overvalued in 2026?

Based on GuruFocus' analysis, Westinghouse Air Brake Technologies stock appears to be overvalued. The current stock price of $261.21 is trading 22.3% above its estimated GF Value™ of $213.66. GuruFocus considers Westinghouse Air Brake Technologies to be Modestly Overvalued.

Key valuation signals for WAB:

Operating Income: $1,836 Mil
GF Value™: $213.66 vs. price of $261.21 (22.3% above fair value)
GF Score™: 90/100 with 8 warning signs

No single metric tells the full story. See the WAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Westinghouse Air Brake Technologies Business Description

Industry Industrials Transportation

Comparable Companies NSC CSX TRN GBX FSTR RAIL SWVL RVSN PNYG UNP TSX:CP TSX:CNR SHSE:601816 HKSE:00066 TSE:9020 HKSE:01766 TSE:9022 SHSE:601006 XKRX:064350 XPAR:GET

Other Exchanges WAB:Mexico 0A7Y:UK WB2:Germany

Address 30 Isabella Street, Pittsburgh, PA, USA, 15212

Website https://www.wabteccorp.com

Westinghouse Air Brake Technologies Corp provides value-added, technology-based products and services for the freight rail and passenger transit industries and the mining, marine, and industrial markets. It provides its products and services through two main business segments: Freight and Transit. The company generates maximum revenue from the Freight segment, which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives, provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products, including electronics, positive train control equipment, signal design, and engineering services. Geographically, it generates a majority of its revenue from the United States.

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$261.21

Price

$213.66

GF Value

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