Industrials · Agricultural - Machinery
Price
$14.05
Market Cap
$571.5M
Employees
6,000
Beta
1.54
Avg Volume
778,840
CEO
Brent L. Yeagy
Business Description
Wabash National Corporation (WNC) specializes in the engineering, manufacturing, and supply of diverse solutions for the transportation, logistics, and distribution industries, primarily serving the United States market. The company operates through two distinct divisions: Transportation Solutions and Parts & Services. The Transportation Solutions segment delivers a wide array of products, including various trailer types such such as dry van, platform, and refrigerated models, along with converter dollies. This division also produces an assortment of truck bodies for applications like dry-freight, commercial cutaway, service, insulated, stake, and refrigerated hauling, in addition to offering used trailers and laminated hardwood oak flooring. Moreover, it fabricates specialized tank trailers from stainless steel, aluminum, and fiberglass-reinforced polymer, designed for transporting dairy products, food, beverages, oil, gas, chemicals, and dry bulk goods. The Parts & Services segment concentrates on aftermarket support, providing components and services such as door repair, collision repair, and routine maintenance. This division also supplies aluminum and steel flatbed bodies, shelving systems for package delivery, internal partitions, roof racks, hitches, liftgates, and thermal control solutions. Furthermore, it produces stainless steel storage tanks, silos, mixers, and processors for the dairy, food and beverage, pharmaceutical, chemical, craft brewing, and biotechnology sectors, alongside composite products like truck bodies and overhead doors for various industrial applications. Wabash National markets its offerings under prominent brands including Wabash, DuraPlate, DuraPlateHD, DuraPlate AeroSkirt, AeroSkirt CX, and EcoNex. Its products are distributed directly, through company-owned retail operations, and via an independent dealer network, serving customers such as truckload and less-than-truckload common carriers, leasing companies, private fleet operators, and package carriers. Founded in 1985, the corporation's headquarters are located in Lafayette, Indiana.
Business History
Price Overview
Last updated: Jun 27, 2026 10:09am (just now)$14.05
+0.11 (+0.79%)
Day Range
$13.63 – $14.32
52-Week Range
$6.63 – $14.32
50-Day MA
$8.69
200-Day MA
$9.25
Volume
849,613.00
Analyst Price Targets
Low
$20.00
Consensus
$20.00
High
$20.00
(12 analysts)
Share Structure
Outstanding
40,673,967.00
Float
37,285,826.00
Free Float
91.7%
High free float
— 91.7% of shares trade freely, ~8.3% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
2.76
Stock Price: $14.05
EPS (Diluted): 5.09
EPS (Diluted): 5.09
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.98
Stock Price: $14.05
Total Equity: $367.36M
Shares: 41,746,000
Total Equity: $367.36M
Shares: 41,746,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-332.91
Market Cap: $571.47M
Total Debt: $442.85M
Cash: $31.92M
EBITDA: $363.21M
Total Debt: $442.85M
Cash: $31.92M
EBITDA: $363.21M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$770.0M
Market Cap: $571.47M
Total Debt: $442.85M
Cash: $31.92M
Total Debt: $442.85M
Cash: $31.92M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
3.8%
Gross Profit: $58.73M
Revenue: $1.54B
Revenue: $1.54B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
20.8%
Operating Income: $321.06M
Revenue: $1.54B
Revenue: $1.54B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
13.7%
Net Income: $211.45M
Revenue: $1.54B
Revenue: $1.54B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-17.3%
Net Income: $211.45M
Total Equity: $367.36M
Total Equity: $367.36M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-4.1%
Operating Income: $321.06M
Tax Rate: 25.3%
Equity: $367.36M
Total Debt: $442.85M
Cash: $31.92M
Tax Rate: 25.3%
Equity: $367.36M
Total Debt: $442.85M
Cash: $31.92M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.39
Current Assets: $419.09M
Current Liabilities: $302.36M
Current Liabilities: $302.36M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
1.21
Short-Term Debt: $0.00
Long-Term Debt: $442.85M
Total Debt: $442.85M
Total Equity: $367.36M
Long-Term Debt: $442.85M
Total Debt: $442.85M
Total Equity: $367.36M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$36.96
Revenue: $1.54B
Shares: 41,746,000
Shares: 41,746,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$8.80
Total Equity: $367.36M
Shares: 41,746,000
Shares: 41,746,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.31
Operating CF: $11.67M
CapEx: -$24.71M
Shares: 41,746,000
CapEx: -$24.71M
Shares: 41,746,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
3.8%
Last Dividend: N/A
Stock Price: $14.05
Stock Price: $14.05
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $211.45M
Net Income: $211.45M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares WNC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 1:28am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $2.5B | $2.5B | $1.9B | $1.5B |
| Cost of Revenue | $1.6B | $2.2B | $2.0B | $1.7B | $1.5B |
| Gross Profit | $196.5M | $322.7M | $498.2M | $265.1M | $58.7M |
| Operating Expenses | $162.9M | $155.4M | $186.2M | $621.2M | -$262.3M |
| Operating Income | $33.5M | $166.6M | $311.9M | -$356.1M | $321.1M |
| Net Income | $1.2M | $112.3M | $231.3M | -$284.1M | $211.5M |
| EBITDA | $73.3M | $214.3M | $359.9M | -$299.8M | $363.2M |
| EPS | $0.02 | $2.31 | $4.92 | $-6.40 | $5.09 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 1:28am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $71.8M | $58.2M | $179.3M | $115.5M | $31.9M |
| Total Current Assets | $529.7M | $592.6M | $681.4M | $594.5M | $419.1M |
| Total Assets | $1.1B | $1.2B | $1.4B | $1.4B | $1.2B |
| Current Liabilities | $289.3M | $347.5M | $352.2M | $308.4M | $302.4M |
| Long-Term Debt | $428.3M | $395.8M | $396.5M | $397.1M | $442.9M |
| Total Liabilities | $802.2M | $805.4M | $812.7M | $1.2B | $802.7M |
| Total Equity | $325.5M | $397.6M | $549.5M | $188.8M | $367.4M |
| Retained Earnings | $92.1M | $188.2M | $403.9M | $105.6M | $303.6M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 1:28am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$7.5M | $124.1M | $319.6M | $117.3M | $11.7M |
| Capital Expenditure | -$49.1M | -$57.1M | -$98.1M | -$72.2M | -$24.7M |
| Free Cash Flow | -$56.6M | $67.0M | $221.5M | $45.1M | -$13.0M |
| Acquisitions (net) | $0 | $0 | -$2.5M | -$20.1M | -$20.6M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$66.7M | -$34.3M | -$76.2M | -$70.9M | -$33.8M |
| Net Change in Cash | -$145.9M | -$13.5M | $121.0M | -$63.8M | -$83.6M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 10:09am (just now)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$1.9B $1.9B – $2.0B
|
$1.5B $1.5B – $1.6B
|
$1.5B $1.5B – $1.5B
|
$2.0B $2.0B – $2.0B
|
| EBITDA |
$135.9M $135.1M – $136.7M
|
$108.1M $107.3M – $108.9M
|
$104.2M $104.2M – $104.2M
|
$138.2M $138.2M – $138.2M
|
| Net Income |
$53.6M $53.6M – $53.6M
|
-$82.2M -$83.4M – -$80.9M
|
-$73.1M -$73.1M – -$73.1M
|
$65.5M $65.5M – $65.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 1:28am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +38.8% | +1.4% | -23.3% | -20.8% |
| Gross Profit Growth | +64.2% | +54.4% | -46.8% | -77.8% |
| Operating Income Growth | +396.8% | +87.2% | -214.2% | +190.2% |
| Net Income Growth | +9,544.2% | +106.0% | -222.8% | +174.4% |
| EBITDA Growth | +192.5% | +68.0% | -183.3% | +221.2% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-13 | SORENSEN SCOTT K | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | Broberg Trent | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | BASSETT THERESE M | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | Magee Larry J | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | Boss John G. | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | Murtlow Ann D. | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | TAYLOR STUART A II | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-05-13 | Sudhanshu Priyadarshi | A-Award | 21,866.00 | $0.00 | $0 |
| 2026-04-29 | Winston Donald Adrian | F-InKind | 1,086.00 | $8.34 | $9,057 |
| 2025-05-14 | Murtlow Ann D. | 0.00 | $0.00 | $0 | |
| 2026-02-14 | Winston Donald Adrian | F-InKind | 857.00 | $11.86 | $10,164 |
| 2026-02-14 | Schwartzhoff Drew John | F-InKind | 595.00 | $11.86 | $7,057 |
| 2026-02-14 | Keslin Patrick Joseph | F-InKind | 621.00 | $11.86 | $7,365 |
| 2026-02-15 | Keslin Patrick Joseph | F-InKind | 484.00 | $11.86 | $5,740 |
| 2026-02-14 | Pettit Michael N | F-InKind | 3,367.00 | $11.86 | $39,933 |
| 2026-02-15 | Pettit Michael N | F-InKind | 7,439.00 | $11.86 | $88,227 |
| 2026-02-14 | Yeagy Brent L | F-InKind | 10,224.00 | $11.86 | $121,257 |
| 2026-02-15 | Yeagy Brent L | F-InKind | 28,651.00 | $11.86 | $339,801 |
| 2026-02-14 | Glazner Mary Kristin | F-InKind | 2,220.00 | $11.86 | $26,329 |
| 2026-02-15 | Glazner Mary Kristin | F-InKind | 5,778.00 | $11.86 | $68,527 |
Dividend History (Last 20)
Last updated: Jun 24, 2026 1:28am (3d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-07-02 | $0.08 | 2026-05-13 | 2026-07-02 | 2026-07-23 |
| 2026-04-02 | $0.08 | 2026-02-11 | 2026-04-02 | 2026-04-23 |
| 2026-01-08 | $0.08 | 2025-11-20 | 2026-01-08 | 2026-01-29 |
| 2025-10-02 | $0.08 | 2025-08-20 | 2025-10-02 | 2025-10-23 |
| 2025-07-03 | $0.08 | 2025-05-15 | 2025-07-03 | 2025-07-24 |
| 2025-04-03 | $0.08 | 2025-02-13 | 2025-04-03 | 2025-04-24 |
| 2025-01-10 | $0.08 | 2024-11-21 | 2025-01-10 | 2025-01-30 |
| 2024-10-10 | $0.08 | 2024-08-15 | 2024-10-10 | 2024-10-31 |
| 2024-07-03 | $0.08 | 2024-05-21 | 2024-07-03 | 2024-07-25 |
| 2024-04-03 | $0.08 | 2024-02-15 | 2024-04-04 | 2024-04-25 |
| 2024-01-03 | $0.08 | 2023-11-30 | 2024-01-04 | 2024-01-25 |
| 2023-10-04 | $0.08 | 2023-08-17 | 2023-10-05 | 2023-10-26 |
| 2023-07-05 | $0.08 | 2023-05-11 | 2023-07-06 | 2023-07-27 |
| 2023-04-05 | $0.08 | 2023-02-16 | 2023-04-06 | 2023-04-27 |
| 2023-01-04 | $0.08 | 2022-11-18 | 2023-01-05 | 2023-01-26 |
| 2022-10-05 | $0.08 | 2022-08-17 | 2022-10-06 | 2022-10-27 |
| 2022-07-06 | $0.08 | 2022-05-13 | 2022-07-07 | 2022-07-28 |
| 2022-04-06 | $0.08 | 2022-02-21 | 2022-04-07 | 2022-04-28 |
| 2022-01-05 | $0.08 | 2021-11-18 | 2022-01-06 | 2022-01-27 |
| 2021-10-06 | $0.08 | 2021-08-18 | 2021-10-07 | 2021-10-28 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for WNC — it's generated by the pipeline (
market-narrative step).
No community reviews yet for WNC.
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30