(WNC) Wabash National - Overview
Sector: Industrials | Industry: Farm & Heavy Construction Machinery | Exchange: NYSE (USA) | Market Cap: 316m USD | Total Return: -7.1% in 12m
Avg Turnover: 5.80M
Qual. Beats: -2
Rev. Trend: -99.1%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -1.2 is critical
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Extended 1w Choppy
Tailwinds
No distinct edge detected
Wabash National Corporation (NYSE: WNC) is a specialized manufacturer of transportation, logistics, and infrastructure equipment headquartered in Lafayette, Indiana. The company operates through two primary segments: Transportation Solutions and Parts & Services. Its product portfolio includes diverse trailer types, truck bodies, and high-performance components such as laminated oak flooring and DuraPlate composite panels. Beyond equipment manufacturing, Wabash provides aftermarket maintenance, repair services, and liquid-processing equipment for the food, pharmaceutical, and chemical industries.
The company operates within the cyclical heavy transportation equipment sector, where demand is closely tied to North American freight volumes and fleet replacement cycles. To diversify revenue, Wabash has expanded its business model to include Trailers as a Service (TaaS) and digital marketplace initiatives, shifting toward recurring service-based income. Further data on valuation trends and peer comparisons are available on ValueRay for those conducting deeper analysis. As a vertically integrated producer, Wabash controls key aspects of its supply chain, including the production of proprietary composite materials used to improve trailer durability and thermal efficiency.
- Cyclical demand for dry van and refrigerated trailers dictates top-line revenue growth
- Fluctuating steel and aluminum input costs directly impact manufacturing gross margins
- Expansion of aftermarket parts and services segment reduces cyclical earnings volatility
- Freight market capacity and carrier profitability drive fleet replacement and expansion cycles
- Transition toward cold chain logistics increases demand for specialized thermal truck bodies
| Net Income: -64.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -8.49 > 1.0 |
| NWC/Revenue: 7.95% < 20% (prev 13.36%; Δ -5.41% < -1%) |
| CFO/TA -0.02 > 3% & CFO -21.7m > Net Income -64.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (40.7m) vs 12m ago -5.45% < -2% |
| Gross Margin: 1.74% > 18% (prev 0.11%; Δ 162.5% > 0.5%) |
| Asset Turnover: 110.8% > 50% (prev 128.1%; Δ -17.25% > 0%) |
| Interest Coverage Ratio: -1.22 > 6 (EBITDA TTM -5.17m / Interest Expense TTM 52.6m) |
| A: 0.09 (Total Current Assets 469.3m - Total Current Liabilities 352.7m) / Total Assets 1.23b |
| B: 0.21 (Retained Earnings 255.1m / Total Assets 1.23b) |
| C: -0.05 (EBIT TTM -63.9m / Avg Total Assets 1.32b) |
| D: 0.28 (Book Value of Equity 256.2m / Total Liabilities 907.4m) |
| Altman-Z'' = 1.27 = BB |
| DSRI: 1.04 (Receivables 160.2m/190.6m, Revenue 1.47b/1.81b) |
| GMI: 6.59 (GM 1.74% / 11.46%) |
| AQI: 1.28 (AQ_t 0.38 / AQ_t-1 0.30) |
| SGI: 0.81 (Revenue 1.47b / 1.81b) |
| TATA: -0.03 (NI -64.6m - CFO -21.7m) / TA 1.23b) |
| Beneish M = 2.06 (Cap -4..+1) = D |
As of May 27, 2026, the stock is trading at USD 8.04 with a total of 493,019 shares traded.
Over the past week, the price has changed by +18.24%,
over one month by -8.32%,
over three months by -19.96% and
over the past year by -7.14%.
Wabash National has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy WNC.
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 8.5 | 5.7% |
P/E Forward = 8.5616
P/S = 0.2157
P/B = 0.9857
P/EG = 0.725
Revenue TTM = 1.47b USD
EBIT TTM = -63.9m USD
EBITDA TTM = -5.17m USD
Long Term Debt = 498.0m USD (from longTermDebt, last quarter)
Short Term Debt = 10.0m USD (from shortTermDebt, last quarter)
Debt = 541.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 10.0m
Net Debt = 497.5m USD (calculated: Debt 541.0m - CCE 43.4m)
Enterprise Value = 813.6m USD (316.0m + Debt 541.0m - CCE 43.4m)
Interest Coverage Ratio = -1.22 (Ebit TTM -63.9m / Interest Expense TTM 52.6m)
EV/FCF = -19.77x (Enterprise Value 813.6m / FCF TTM -41.2m)
FCF Yield = -5.06% (FCF TTM -41.2m / Enterprise Value 813.6m)
FCF Margin = -2.81% (FCF TTM -41.2m / Revenue TTM 1.47b)
Net Margin = -4.41% (Net Income TTM -64.6m / Revenue TTM 1.47b)
Gross Margin = 1.74% ((Revenue TTM 1.47b - Cost of Revenue TTM 1.44b) / Revenue TTM)
Gross Margin QoQ = -4.70% (prev -5.41%)
Tobins Q-Ratio = 0.66 (Enterprise Value 813.6m / Total Assets 1.23b)
Interest Expense / Debt = 9.72% (Interest Expense 52.6m / Debt 541.0m)
Taxrate = 25.26% (71.5m / 283.2m)
NOPAT = -47.8m (EBIT -63.9m * (1 - 25.26%)) [loss with tax shield]
Current Ratio = 1.33 (Total Current Assets 469.3m / Total Current Liabilities 352.7m)
Debt / Equity = 1.69 (Debt 541.0m / totalStockholderEquity, last quarter 320.6m)
Debt / EBITDA = -96.24 (negative EBITDA) (Net Debt 497.5m / EBITDA -5.17m)
Debt / FCF = -12.09 (negative FCF - burning cash) (Net Debt 497.5m / FCF TTM -41.2m)
Total Stockholder Equity = 373.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.89% (Net Income -64.6m / Total Assets 1.23b)
RoE = -17.32% (Net Income TTM -64.6m / Total Stockholder Equity 373.0m)
RoCE = -7.34% (EBIT -63.9m / Capital Employed (Equity 373.0m + L.T.Debt 498.0m))
RoIC = -5.67% (negative operating profit) (NOPAT -47.8m / Invested Capital 843.0m)
WACC = 8.26% (E(316.0m)/V(857.0m) * Re(9.95%) + D(541.0m)/V(857.0m) * Rd(9.72%) * (1-Tc(0.25)))
Discount Rate = 9.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -6.09%
[DCF] Fair Price = unknown (Cash Flow -41.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.07 | # QB: -2
Revenue Correlation: -99.11 | Revenue CAGR: -20.80% | SUE: -0.75 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.44 | Chg30d=-43.84% | Revisions=-33% | Analysts=1
EPS next Quarter (2026-09-30): EPS=-0.16 | Chg30d=-54.89% | Revisions=-33% | Analysts=1
EPS current Year (2026-12-31): EPS=-1.69 | Chg30d=-13.56% | Revisions=+0% | GrowthEPS=+21.4% | GrowthRev=-3.4%
EPS next Year (2027-12-31): EPS=1.57 | Chg30d=+30.63% | Revisions=+0% | GrowthEPS=+192.9% | GrowthRev=+32.6%