Wabash National (WNC) AI Stock Analysis

• Market Cap: $415.11M
• Dividend Yield: 3.35%
• Average Volume (3M): 839.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.77
• Revenue Growth: -25.02%
• EPS Growth: -171.64%
• Country: US
• Employees: 6,000
• Sector: Industrials
• Sector Strength: 84
• Industry: Agricultural - Machinery
• EPS (TTM): -0.15
• Shares Outstanding: 40,938,225
• 10 Day Avg. Volume: 892,112
• 30 Day Avg. Volume: 839,973
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 2.07
• Enterprise Value/Revenue: 0.50
• Enterprise Value/Gross Profit: 5.39
• Enterprise Value/Ebitda: -6.65
• 1Y Price Target: $9.50
• Price Target Upside: -6.31% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 48 Neutral
• Price Target: $10.00 ▼(-1.38% Downside)

Wabash National's overall stock score of 48 reflects significant financial challenges, particularly in profitability and leverage, as well as a concerning valuation with negative earnings. While there are some positive aspects in cash flow and strategic initiatives, the economic environment and revised guidance weigh heavily on the outlook. Technical indicators suggest a lack of clear momentum, further contributing to the cautious score.

Wabash National Business Overview & Revenue Model

Company Description

Wabash National Corporation designs, manufactures, and distributes engineered solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products. This segment also offers stainless steel and aluminum tank trailers for the dairy, food and beverage, oil, gas, and chemical end markets; dry bulk trailers; and fiberglass reinforced poly tank trailers. The Parts & Services segment provides aftermarket parts and services; aluminum and steel flatbed bodies, shelving for package delivery, partitions, roof racks, hitches, liftgates, and thermal solutions; and door repair and replacement, collision repair, and basic maintenance services. This segment also offers stainless steel storage tanks and silos, mixers, and processors for the dairy, food and beverage, pharmaceutical, chemical, craft brewing, and biotech end markets; and composite products, including truck bodies, overhead doors, and other industrial application products. The company offers its products under the Wabash, DuraPlate, DuraPlateHD, DuraPlate AeroSkirt, and AeroSkirt CX brands, as well as EcoNex brand. It distributes its products directly, as well as through its retail operations and independent dealers to truckload common carriers, leasing companies, private fleet carriers, less-than-truckload common carriers, and package carriers. The company was founded in 1985 and is headquartered in Lafayette, Indiana.

How the Company Makes Money

Wabash National Corporation generates revenue primarily through the sale of its manufactured transportation equipment, including trailers, truck bodies, and related components. The company's revenue streams are primarily derived from its commercial trailer products and diversified industrial products segments. Wabash National also engages in strategic partnerships and collaborations with key stakeholders in the transportation and logistics sectors, which can enhance its market reach and operational efficiency. Additionally, the company may benefit from aftermarket sales, providing parts and services to maintain and repair its products. These diverse revenue streams and strategic alliances contribute to Wabash National's financial performance and market position in the commercial transportation industry.

Wabash National Financial Statement Overview

Summary

Wabash National's financial performance is under pressure, with a negative EBIT and net income reflecting operational inefficiencies. The balance sheet shows moderate leverage, but declining equity and negative return on equity raise concerns. Cash flow remains a relative strength, yet inefficiencies in cash flow to net income ratios need addressing.

Income Statement

Wabash National's income statement reflects significant challenges, with declining revenues and profitability. The TTM (Trailing-Twelve-Months) shows a drop in total revenue from the previous annual period, with a negative EBIT and net income indicating operational inefficiencies and loss-making activities. EBITDA margin is negative, highlighting the lack of operating leverage. The gross profit margin has narrowed, and the net profit margin has turned negative, raising concerns about the company's ability to manage costs and generate revenue efficiently.

Balance Sheet

The balance sheet reveals a moderately leveraged position, with a debt-to-equity ratio of approximately 1.14 in the TTM, indicating reliance on debt financing. Stockholders' equity has fluctuated, reflecting operational losses. The equity ratio is around 28%, suggesting that a significant portion of assets is financed by equity, offering some stability. However, the declining net income has impacted the return on equity, which is negative, raising red flags about the company's ability to generate returns for shareholders.

Cash Flow

The cash flow statement indicates some positive aspects, with a positive operating cash flow in the TTM, suggesting that core business operations are generating cash. Free cash flow has grown from the previous period, which is a positive sign for liquidity. However, the operating cash flow to net income ratio indicates inefficiencies, as net income is negative. The free cash flow to net income ratio also reflects operational challenges. The company must address these inefficiencies to maintain positive cash flows.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.95B	2.54B	2.50B	1.80B	1.48B
Gross Profit	265.07M	498.19M	322.69M	196.47M	159.75M
EBITDA	-299.77M	359.86M	214.25M	73.26M	-37.05M
Net Income	-284.07M	231.25M	112.26M	1.16M	-97.41M
Balance Sheet
Total Assets	1.41B	1.36B	1.20B	1.11B	1.16B
Cash, Cash Equivalents and Short-Term Investments	115.48M	179.27M	58.24M	71.78M	217.68M
Total Debt	433.56M	428.68M	418.82M	439.75M	459.44M
Total Liabilities	1.22B	812.72M	805.40M	781.53M	756.59M
Stockholders Equity	188.83M	549.50M	397.61M	325.54M	404.88M
Cash Flow
Free Cash Flow	45.08M	221.51M	67.00M	-56.58M	104.00M
Operating Cash Flow	117.27M	319.61M	124.08M	-7.47M	124.13M
Investing Cash Flow	-94.79M	-106.04M	-55.30M	-27.08M	-3.02M
Financing Cash Flow	-86.27M	-92.54M	-82.31M	-111.35M	-43.96M

Wabash National Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 10.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WNC, the sentiment is Neutral. The current price of 10.14 is below the 20-day moving average (MA) of 10.21, above the 50-day MA of 10.09, and below the 200-day MA of 13.07, indicating a neutral trend. The MACD of -0.11 indicates Positive momentum. The RSI at 49.49 is Neutral, neither overbought nor oversold. The STOCH value of 25.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for WNC.

Wabash National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTW	72 Outperform	$446.59M	9.89	7.21%	―	-2.75%	65.38%
ASTE	65 Neutral	$923.60M	61.41	7.02%	1.29%	1.17%	―
Sector *	63 Neutral	$10.64B	16.04	5.48%	2.12%	2.73%	-23.95%
HY	58 Neutral	$747.22M	33.87	4.39%	3.50%	-7.11%	-87.41%
TWI	55 Neutral	$535.44M	―	-3.75%	―	-1.29%	-171.86%
WNC	48 Neutral	$415.11M	―	-23.48%	3.35%	-25.02%	-171.64%

Wabash National Corporate Events

Wabash National Highlights Strategic Growth at Investor Conference

On June 3, 2025, Wabash National Corporation presented at an investor conference, highlighting its strategic growth plans and the challenges faced in 2025 due to difficult operating conditions and tariff uncertainties. The company emphasized its ability to generate cash and maintain liquidity despite these challenges, leveraging its broad portfolio and patient debt structure. The presentation also included forward-looking statements about the company’s outlook for trailer and truck body shipments, demand levels, and financial performance, while acknowledging risks and uncertainties that could impact actual results.

The most recent analyst rating on (WNC) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Wabash National stock, see the WNC Stock Forecast page.

Wabash National Approves 2025 Omnibus Incentive Plan

On May 14, 2025, Wabash National Corporation’s stockholders approved the 2025 Omnibus Incentive Plan, authorizing the issuance of up to 2,190,570 shares of common stock. During the same annual meeting, stockholders elected nine directors, approved executive compensation, and ratified Ernst & Young LLP as the independent auditor for 2025. These decisions reflect strategic moves to strengthen governance and financial oversight, potentially impacting the company’s operational and market positioning.

The most recent analyst rating on (WNC) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Wabash National stock, see the WNC Stock Forecast page.