Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 8, 2026

Westinghouse Air Brake Technologies Corp (WAB)

A forensic read on Westinghouse Air Brake Technologies Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

6.0

Distress distance

Clean

Earnings quality

Forensic signals

39.3

P / E (ttm)

10.5%

ROE

$49.3B

Market cap

0.42%

Dividend yield

7.5%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Westinghouse Air Brake Technologies Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 6.0, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+17.0%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +17.0% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +22% against revenue +8% and inventory up +19% against +5% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 4% of net operating assets, diverging from the balance-sheet accrual read.

125d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 120 to 125 FY2024→FY2025 (against cost of goods sold; inventory +19% vs +5% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

7.3%

FY2025

Return on invested capital. Return on invested capital is 7.3% in the latest fiscal year and rising from 5% — slightly below its ~9% cost of capital — reinvestment is roughly a wash.

Key fundamentals

Latest Revenue$11.17B

Revenue Growth YoY+7.5%

Revenue CAGR (3yr)+10.1%

Net Margin10.5%

Free Cash Flow$1.50B

Return on Equity10.5%

Debt / Equity0.50x

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Data from SEC EDGAR public filings · metrics as of Aug 8, 2026. Forensic signals flag probability, not certainty.