For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Westinghouse Air Brake Technologies (WAB) ten years ago? It may not have been easy to hold on to WAB for all that time, but if you did, how much would your investment be worth today?
Westinghouse Air Brake Technologies' Business In-Depth
With that in mind, let's take a look at Westinghouse Air Brake Technologies' main business drivers.
Westinghouse Air Brake Technologies Corporation provides value-added, technology-based locomotives, equipment, systems and services for the freight rail and passenger transit industries, as well as the mining, marine and industrial markets, across the globe. Its products are designed to enhance safety, improve productivity and reduce maintenance costs for customers. The company’s products can be found on most locomotives, freight cars, passenger transit cars and buses worldwide.
The company, which has operations in over 50 countries, functions under the name Wabtec Corporation and is headquartered in Pittsburgh, PA. Following the merger with GE Transportation in February 2019, Wabtec was included in the S&P 500 index. Wabtec employed about 31,000 people as of year-end 2025. Net sales in 2025 increased to $11.17 billion.
Wabtec primarily serves the global freight rail and passenger transit industries and operates under two business segments: Transit and Freight.
The Freight unit contributed about 72% of 2025 net sales and manufactures new and modernized locomotives. It also provides aftermarket parts and services to existing locomotives, supplies components for new and existing freight cars, and offers rail control and infrastructure products. Its Digital Intelligence portfolio includes Positive Train Control equipment, software-enabled solutions and inspection and sensing technologies. Wabtec has an installed base of nearly 24,600 locomotives, supporting recurring services and parts demand. In 2025, about 60% of Freight net sales came from the United States and about 58% were generated in the aftermarket.
The Transit segment represented about 28% of 2025 net sales and manufactures and services components for new and existing passenger transit vehicles such as regional and high-speed trains, subway cars and buses. It also supplies rail control and infrastructure products.
In 2025, about 17% of Transit net sales came from the United States and about 56% were generated in the aftermarket. Across the company, aftermarket sales represent roughly 60% of total net sales. Wabtec’s fiscal year coincides with the calendar year. Backlog and acquisitions support multi-year growth.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Westinghouse Air Brake Technologies, if you bought shares a decade ago, you're likely feeling really good about your investment today.
A $1000 investment made in August 2016 would be worth $4,020.19, or a gain of 302.02%, as of August 19, 2026, according to our calculations. This return excludes dividends but includes price appreciation.
In comparison, the S&P 500's gained 251.70% and the price of gold went up 208.69% over the same time frame.
Looking ahead, analysts are expecting more upside for WAB.
Wabtec benefits from a large installed base and long-cycle freight and transit spending, supporting recurring aftermarket demand. Backlog expansion and recent wins in rail modernization, mining, and transit equipment improve multi-year revenue visibility. Recent acquisitions broaden the Digital Intelligence and Transit portfolios, and early integration progress underpins management's higher full-year adjusted EPS outlook. Dividends and buybacks continue, supported by operating cash flow and manageable leverage. Offsets include tariff and manufacturing cost pressure, timing swings in services and components, and earnings volatility from foreign exchange and macro uncertainty. With positives and risks in better balance after the stock's move, we see limited near-term upside and keep a Neutral view on the stock for now.
Over the past four weeks, shares have rallied 11.84%, and there have been 3 higher earnings estimate revisions in the past two months for fiscal 2026 compared to none lower. The consensus estimate has moved up as well.
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Wabtec (WAB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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