Company Valuation: Westinghouse Air Brake Technologies Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 17,208 18,152 22,735 32,589 36,491 41,942 - -
Change - 5.49% 25.25% 43.34% 11.97% 14.94% - -
Enterprise Value (EV) 1 20,791 21,362 25,403 35,354 39,993 46,536 46,206 45,231
Change - 2.75% 18.92% 39.17% 13.12% 16.36% -0.71% -2.11%
P/E ratio 31.1x 28.8x 28x 31.4x 31.3x 26.8x 23.5x 21x
PBR 1.69x 1.8x 2.16x 3.28x 3.28x 3.67x 3.53x 3.29x
PEG - 1.7x 0.9x 0.9x 2.4x 0.8x 1.7x 1.7x
Capitalization / Revenue 2.2x 2.17x 2.35x 3.14x 3.27x 3.4x 3.21x 3.03x
EV / Revenue 2.66x 2.55x 2.63x 3.4x 3.58x 3.77x 3.53x 3.27x
EV / EBITDA 14.1x 13.7x 13.8x 16.5x 16.2x 16.2x 14.6x 13.4x
EV / EBIT 16.8x 15.8x 15.5x 18x 17.6x 17.9x 16.1x 14.7x
EV / FCF 22x 24x 25x 21.7x - 31.8x 21x 20.6x
FCF Yield 4.54% 4.16% 4% 4.6% - 3.15% 4.76% 4.86%
Dividend per Share 2 0.48 0.6 0.68 0.8 - 1.217 1.329 1.15
Rate of return 0.52% 0.6% 0.54% 0.42% - 0.49% 0.54% 0.47%
EPS 2 2.96 3.46 4.53 6.04 6.83 9.194 10.46 11.72
Distribution rate 16.2% 17.3% 15% 13.2% - 13.2% 12.7% 9.81%
Net sales 1 7,822 8,362 9,677 10,387 11,167 12,330 13,075 13,824
EBITDA 1 1,477 1,562 1,842 2,148 2,464 2,868 3,155 3,383
EBIT 1 1,241 1,354 1,643 1,967 2,267 2,605 2,869 3,070
Net income 1 558 633 815 1,056 1,170 1,569 1,741 1,922
Net Debt 1 3,583 3,210 2,668 2,765 3,502 4,594 4,264 3,289
Reference price 2 92.11 99.81 126.90 189.59 213.45 245.97 245.97 245.97
Nbr of stocks (in thousands) 186,821 181,868 179,159 171,890 170,957 170,517 - -
Announcement Date 2/16/22 2/15/23 2/14/24 2/12/25 2/11/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.75x3.77x16.23x0.49% 41.94B
12.37x0.42x4.23x3.93% 25.84B
27.61x3.53x18.73x0.12% 15B
15.4x3.6x9.87x3.83% 2.46B
18.15x0.59x7.36x3.04% 2.37B
13.17x0.5x6.28x2.74% 2.31B
13.03x1.08x8.41x2.2% 1.66B
23.29x1.46x10.95x1.61% 1.64B
Average 18.72x 1.87x 10.26x 2.25% 11.65B
Weighted average by Cap. 21.74x 2.55x 12.43x 1.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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